I fell for FOMO

[Nasonn]

We have all been a victim of fomo in our trade at one point or another. It becomes very difficult when you're a daily trader, sometimes the moment you fomo into a coin the coin comes crashing reking you in the process.

[Danslip]

Way back to 2017, the situation was different and we need a different level of crypto ecosystem versions. Fomo is good in the bull markets and missing the key answer is the best answer to the FOMO.

[South Park]

Back in December 2017 when mining coins are still damn profitable a friend told me about how much he was making from mining and I decided to check it out, I was hooked and I can't keep my mind off it so I venture into setting up my own, the first coin I started mining was electroneum but unfortunately I wasnt able to recover half of ROI back before bears take over the market and now mining seems hopeless, my question to miners like me out here is how are you guys managing? Will mining be profitable again when bulls return???

The problem with mining is that there is always new hardware being developed which is better than the last models and it is likely that when the bull market appears your mining hardware will not be adequate and profitable anymore, if you had bought coins instead of that mining equipment you will have a better chance to recover your money since whatever coins you had could always recover thanks to hype alone, but since you did not do that your situation is very complex and only an experienced miner could get out of it with profits.

[jhongzjhong]

Way back to 2017, the situation was different and we need a different level of crypto ecosystem versions. Fomo is good in the bull markets and missing the key answer is the best answer to the FOMO.

I remember these days, I really feel FOMO before and it is different things before than at this present. FOMO it needs a massive adoption and has a huge pump up the price. I think the word FOMO now is nearly happening we saw progress even there is a small correction but when it comes resistance it is continuously growing up since by then.

[Hans Groober]

Back in December 2017 when mining coins are still damn profitable a friend told me about how much he was making from mining and I decided to check it out, I was hooked and I can't keep my mind off it so I venture into setting up my own, the first coin I started mining was electroneum but unfortunately I wasnt able to recover half of ROI back before bears take over the market and now mining seems hopeless, my question to miners like me out here is how are you guys managing? Will mining be profitable again when bulls return???

Mining brought and brings profit. It all depends on your equipment and the cost of electricity. It is important to choose the coins for mining, which are best mined on your equipment. There are specialized sites for rebounds.

[fosco333]

Back in December 2017 when mining coins are still damn profitable a friend told me about how much he was making from mining and I decided to check it out, I was hooked and I can't keep my mind off it so I venture into setting up my own, the first coin I started mining was electroneum but unfortunately I wasnt able to recover half of ROI back before bears take over the market and now mining seems hopeless, my question to miners like me out here is how are you guys managing? Will mining be profitable again when bulls return???

Not only you, there were many peoples coming to buying cryptocurrency in 2017 when it was skyrocketing.
I think this has happened every year. When bitcoin and altcoins was going up very fast and hit the new All time high, peoples were come to join the train.
Maybe you can expect some bull again few years later and the FOMO will happening again.

[lionheart78]

Back in December 2017 when mining coins are still damn profitable a friend told me about how much he was making from mining and I decided to check it out, I was hooked and I can't keep my mind off it so I venture into setting up my own, the first coin I started mining was electroneum but unfortunately I wasnt able to recover half of ROI back before bears take over the market and now mining seems hopeless, my question to miners like me out here is how are you guys managing? Will mining be profitable again when bulls return???

I tried to mine through renting and I find it profitable if we choose the right coins to mine. Mining this days is kinda hard since difficulty is getting higher and if we have no adequate equipment, we will be just wasting our resources.  Aside from that majority of token or coins now a day are premined and only a few that use POW.


I believe mining will be profitable once the bulls return.  You see, we can sell our coins in  a higher price with the same amount of capital for our mining activity.

[LogitechMouse]

You are just saying this because the current situation of the market is bearish. When the bull run happens, mining will be profitable once again. Now the question is when will the bull run happen.

Nobody knows when it will happen but one thing is for sure, IT WILL HAPPEN anytime so if you are mining at this moment just continue to mine because there will be a time that you will get your profit because mining altcoins are profitable because they are more volatile compare to Bitcoin.

[Whosdaddy]

Back in December 2017 when mining coins are still damn profitable a friend told me about how much he was making from mining and I decided to check it out, I was hooked and I can't keep my mind off it so I venture into setting up my own, the first coin I started mining was electroneum but unfortunately I wasnt able to recover half of ROI back before bears take over the market and now mining seems hopeless, my question to miners like me out here is how are you guys managing? Will mining be profitable again when bulls return???

I understand that it is really getting difficult for miners to really make profit now because of the bear market situation, but now that we are gradually leaving the red arena, I think miners should start seeing some improvement, especially when mining the major coins responding to the green market.

You know the coin being mined too matters in this, Though BTC is very quiet capital intensive to mine now and very costly, I believe that the complaints BTC miners will have, cannot be as much as what other people mining some coins that are not rising in value will have. But I typically believe that the next bull run will favor all miners.

[samcrypto]

Way back to 2017, the situation was different and we need a different level of crypto ecosystem versions. Fomo is good in the bull markets and missing the key answer is the best answer to the FOMO.

Its great to enter in a bull but the risk is high and you don't know if the price will stop to pump. FOMO is not good at all, because it looks like you are panicking to buy and you don't have any study about that coin and the result will too costly for you. Many newbies are trap on the peak because of FOMO, they don't even have the chance to sold their token because they don't have a plan so its risky and better not to feel FOMO again.

[slaman29]

Don't worry about it. I think all of us here at some point fell for it. Some of us got lucky and fell for it early, and made good profits. Some of us missed boats it was just a matter of luck and timing not so much skill.

Mining can be profitable for alts I think so, but only long term. IT isn't like Bitcoin where you sell as you mine, because it is cheaper you mine and hold hoping for even 5% increase in price to make up for the cost.

[baigreen]

Well, if there is a bull, the profit will cover the costs. But now is not the time for home farms. Who would not say, I think that this is not profitable for many years. A small profit in the replacement of the permanent control equipment, with the risk of fire. I think that there are many ways and without production.

[davinchi]

Back in December 2017 when mining coins are still damn profitable a friend told me about how much he was making from mining and I decided to check it out, I was hooked and I can't keep my mind off it so I venture into setting up my own, the first coin I started mining was electroneum but unfortunately I wasnt able to recover half of ROI back before bears take over the market and now mining seems hopeless, my question to miners like me out here is how are you guys managing? Will mining be profitable again when bulls return???

I started to mine ethereum by the same time you've mentioned. By that time it calculated to give an earning of 0.5eth after meeting all my electricity bills. Later as the price began to drop I was unable to settle my electricity bills, further I shut the mining rig. Hope the price will recover so that somehow I can get back the investment back.

Every time cannot be rosy, I think mining is also a seasonal thing, just like the price of coins are, we experience bear market for a while, and then bull market, I think everything or crypto success is tied to the bull market, all investors, traders, miners and many more are being affected by the bull market.

We just have to wait for the market to recover completely, so that we can have more demands, then miners will definitely get back to business, so it means that everyone in crypto as a role to play, spread the good news always so it can get to those that we need to push the price of Bitcoin into the bull run, especially, large scale institutions.

[cryptobae10]

I fell as well to fomo and rushed the then xmrg moneto gold token on coinexchange.io only to be left red faced
As they ended up as a scam exit and went away with my investments
But I have learnt which is all that matters; learn the lesson, move on and be better than before

[daarul50]

Holding on to all the proceeds from mining is the best way I do now as a miner. I believe a bull will be present someday and when that happens we just need to harvest the results from our mining that we have been holding.

Maybe out there many people decide to stop mining because they think that when bearish market conditions like this they do not make any profit except the losses they get because the mining process costs are not balanced with the results of mine. However, I do not recommend such a thing because after all if we are not patient to wait for the right time then the mining results will not be profitable.

[Psynthax]

I fell as well to fomo and rushed the then xmrg moneto gold token on coinexchange.io only to be left red faced
As they ended up as a scam exit and went away with my investments
But I have learnt which is all that matters; learn the lesson, move on and be better than before

You should not rush to buy shitcoin dude. Why you buy monero gold when you are able to buy a real one like monero? Anycoin that called themselves as the fork from the major coin is a scam and mark my words. i hope you can learn from there. Fork coin is a scam.

[Jrfranco]

Back in December 2017 when mining coins are still damn profitable a friend told me about how much he was making from mining and I decided to check it out, I was hooked and I can't keep my mind off it so I venture into setting up my own, the first coin I started mining was electroneum but unfortunately I wasnt able to recover half of ROI back before bears take over the market and now mining seems hopeless, my question to miners like me out here is how are you guys managing? Will mining be profitable again when bulls return???

Mining is still profitable but depending on what types of coin you gonna mined, FOMO are everywhere and it happens to all types of opportunities, but i were you, i should not try if you have a limited amount of knowledge you have, id rather do trading than mining, mining takes time and effort, while trading is somewhat kind of energetic and excitement, but remember, trending is a friend of trading.

[jcarlo]

Back in December 2017 when mining coins are still damn profitable a friend told me about how much he was making from mining and I decided to check it out, I was hooked and I can't keep my mind off it so I venture into setting up my own, the first coin I started mining was electroneum but unfortunately I wasnt able to recover half of ROI back before bears take over the market and now mining seems hopeless, my question to miners like me out here is how are you guys managing? Will mining be profitable again when bulls return???

I think its still profitable after bitcoin price increase to $5000. But compare 2017, its more profitable for miner in 2017 because bitcoin price above $10k. But it also depends on electricity costs and I think it is still profitable even though it is less than before

[Petchant]

I think you're not using the right equipment and not mining the right coin because mining is still very profitable. Maybe you need to sell those devices and research about profitable mining equipment and profitable coins to mine before getting involved again.

[South Park]

You are just saying this because the current situation of the market is bearish. When the bull run happens, mining will be profitable once again. Now the question is when will the bull run happen.

Nobody knows when it will happen but one thing is for sure, IT WILL HAPPEN anytime so if you are mining at this moment just continue to mine because there will be a time that you will get your profit because mining altcoins are profitable because they are more volatile compare to Bitcoin.

What you are saying is true but big miners had the chance of mining during the moment when the market was bullish and probably sold their coins at that moment meaning they have a huge amount of cash in their pockets which they can use to absorb any losses they may have now, but if you began mining just before the market crashed then that means you do not have those cash reserves and it will be way more difficult to keep mining for a loss for long.