Stop wasting your electricity

[FanEagle]

All these coins are now abandoned and dead, no update since 2018, I'm sharing this today to warn those who still believes in petty coins like these, stop wasting electricity and mine better coins like Monero, Haven Protocol and other popular cryptonight coins or regret later on

Very sad to hear your story. You might have checked those coins' market prices and your profitability levels time to time to avoid such a big disappointment after years of wasting your resources. When ETH was trading around my friend were mining it and when its price was falling down then they switch to some other coins. If you do not have daily or at least weekly based self-evaluation of your mining process then no one could help you all of sudden.

There are lots of online calculators available to choose the highly profitable coin for mining. You must be aware of all of these things. I was mining dogecoins by 2014 then I stopped it when I was paying more current bill than my monthly saving then I sold my dogecoin savings by 2018 when its prices peaked up to 110 stoshi and I still hold that BTC to encash.

I mean mining must be a long process to realize its actual worth. So far, many people shared like mining may be profitable for future prices but not sure then why we need to mine instead of buying them directly from exchanges for the same costs of electricity bills.

[1714036809]

1714036809

[1714036809]

1714036809

[1714036809]

1714036809

[1714036809]

1714036809

[skeleto88]

I do not know about any of a coin what have you listed here amd you should also leave them all because what is the value behind the coins? PoW is the best consensus what we have, it brings a real value to the coin because miners have to spent something to get a coin.

I do too. I don't know why he gambled on those coins without any assurance of getting them successful, in the first place he already knew Monero and Haven Protocol why he had not mined these instead of choosing new coins. Atleast you have learned your lesson and know what coins to mined next time around.

[slashz9]

This is the risk of mining small shitcoins and if I have a chance to mine I will always go for the top coins because that is more profitable and can cover all your expenses. Mining is not easy mate, so you should know what you’re doing and if you think you’re not earning in mining anymore, start looking for a better alternatives.

I wonder if mining more valuable coins like BTC will cost more money like electricity or the like, compared to mining new coins which of course have fewer blocks and will be easier to obtain?
are the costs used to mine the same for both?

[Slow death]

I think the saddest part of all this is knowing that there are still hundreds of altcoins that the creators give up on the project and end up creating great losses to the people who mined the altcoins and to make matters worse we know that new altcoins will appear that will do the same thing: the Dev's will withdraw from the project and will cause losses to people who mine the altcoin. If people do not become too demanding in their project choices, we will not have an honest altcoin market with honest and good quality projects.

[Vishnu.Reang]

Well.. I can understand the sentiment of the OP. For the last 3-4 years, I have tried mining different altcoins, and I have even tried mining Bitcoin in 2017. Ethereum, Litecoin, Deep Onion.etc are some of the cryptocurrencies that I have mined/staked. In the end, I got hardy any returns. Gave up mining/staking in 2019. Mining is not for part-timers like me, who have only 1-2 hours of spare time per day.

[bluebit25]

I am the same as you, but I invest in a few masternodes. In 2017, their price fluctuated at $ 20-40 but over 2018 it dropped to $ 0.1. It was a terrible experience for me and I lost a lot with them.

[Gunday_07]

I've been sleeping on a false hope for a very long time, I was a fan of new cryptonote coins and I've spend years gathering them, thinking I will be rich one way or the other, I mined coins like

1. Mask Coin
2. Goro Coin
3. Snowflake
4. Recoal
5. Tokl
6. Festival Coin
7. Btor

All these coins are now abandoned and dead, no update since 2018, I'm sharing this today to warn those who still believes in petty coins like these, stop wasting electricity and mine better coins like Monero, Haven Protocol and other popular cryptonight coins or regret later on

I think mining new coins can bring big profits if you jump in on quality new coins, many make fortune mining new coins like

Dero
Karbowanec
Iridium
Graft
Sumokoin

The problem is you failed to choose the right projects, it's not too late, if you still have your rigs just mine coins that has future and good team, the only way to know is by doing good research

[Jamesdila1]

Some of the coins that you've mentioned are shit coins and some that I don't know
You should always invistigate before you make a decision like that and waste your electricity, see if the project has a long term strategy / future potential or not
Anyway mixed opinions are around mining, many say that mining is done and only big companies can profit from mining

[dragon695]

I've been sleeping on a false hope for a very long time, I was a fan of new cryptonote coins and I've spend years gathering them, thinking I will be rich one way or the other, I mined coins like

1. Mask Coin
2. Goro Coin
3. Snowflake
4. Recoal
5. Tokl
6. Festival Coin
7. Btor

All these coins are now abandoned and dead, no update since 2018, I'm sharing this today to warn those who still believes in petty coins like these, stop wasting electricity and mine better coins like Monero, Haven Protocol and other popular cryptonight coins or regret later on

I think mining new coins can bring big profits if you jump in on quality new coins, many make fortune mining new coins like

Dero
Karbowanec
Iridium
Graft
Sumokoin

The problem is you failed to choose the right projects, it's not too late, if you still have your rigs just mine coins that has future and good team, the only way to know is by doing good research

You're right! The very first step you should do is doing research about the token that you're about mining. In my opinion, involving in shit coins doesn't necessarily mean that you are wasting electricity. Let's think about it as a lesson that you learn the hard way! It helps you built the experience and the awareness that you gonna need in this market!

[X-ray]

If you are mining those coins you are most likely to a loss. Try mining good coins. Dyor first for the coin to mine.

That's why the big miners are only trying to use small power to bet on the new coins caused by this. They didn't wanna try to waste their power to mine the crap coins. There are so many good coins that have no a lot of competitors in the blockchain and it looks like he can start again to mine it. He must learn a lot from this it's the worst thing to mine shitcoin.

[shaheer001]

I never heard nor read about these coins. Mining is still good but for good coins like Bitcoin in only one condition if you have free electricity or the electricity cost is very low. Always search the good project before investment otherwise you will lose all your precious money.

[luckyflop]

This is the risk of mining small shitcoins and if I have a chance to mine I will always go for the top coins because that is more profitable and can cover all your expenses. Mining is not easy mate, so you should know what you’re doing and if you think you’re not earning in mining anymore, start looking for a better alternatives.

I wonder if mining more valuable coins like BTC will cost more money like electricity or the like, compared to mining new coins which of course have fewer blocks and will be easier to obtain?
are the costs used to mine the same for both?

I think its algorithm will be harder and require your device to be powerful enough to handle it. That's why many people choose to mine small altcoins in this market, but mining small altcoins in this market is risky because they can die and have no liquidity.

[shoreno]

This is the risk of mining small shitcoins and if I have a chance to mine I will always go for the top coins because that is more profitable and can cover all your expenses. Mining is not easy mate, so you should know what you’re doing and if you think you’re not earning in mining anymore, start looking for a better alternatives.

I wonder if mining more valuable coins like BTC will cost more money like electricity or the like, compared to mining new coins which of course have fewer blocks and will be easier to obtain?
are the costs used to mine the same for both?

I think its algorithm will be harder and require your device to be powerful enough to handle it. That's why many people choose to mine small altcoins in this market, but mining small altcoins in this market is risky because they can die and have no liquidity.

yeah thats what i hear before  .  that is the advantage and the second advantage is that those coins can also pump hard so it would be easy money for you if you got lucky  but if not then you loose electricty and effort but its okay if your electric consumption is small or free at all to some   . bigger coins like btc are harder so not all miners prefer them but the only advantage is that they are more surer   .  you can earn less or big with them if their value pump or if you have a small to free electricity fee

[Nitt371]

Yes, you should learn from the mistakes of others.
It is better to ignore noname cryptocurrency and reduce risks because mining is really expensive, you need to carefully calculate your strength.

[Greatchu]

People mine new coins to become the early whales with big bags and yes you aim for the right way to make money in crypto space but you choose the wrong coins, damn of you have mined sumokoin or dero when they came out you will have thousands of dollars right now, these coins don't know how to quit, some coins are really good but not popular, just learn from your mistake, it happens

[OasisDre]

Mask coin looks fresh when it came out, it's a shame it end up dead, would have been a very good privacy coin and bit better than Monero features, if I were you I won't give up, just because these coins fail has nothing to do with luck, no one believe in Loki, Bitcoal, Conceal, can bring profits for miner like they did now, lucky are those who mined them very early when difficulty was low

[jossiel]

While reading the names of those altcoins, I have found no hope in it. Never heard any of them and it's safe to say that you have learned from those altcoins not to mine anymore with such coins. I have an idea that you mined those coins because you have heard or read successful miners that have mined new coins and sold it at a profitable price.

Monero and other good coins, no debate on it and I agree that you should have instead allocated your time, electricity and effort on those coins rather than that ones on the list.

[TheGreatPython]

For many reasons I have stopped my cryptocurrency mining process some few years back itself. Some of my friends had suggested me not to stop because they were calculating profits in mining with the future prices but I was struggling to continue my mining with respect to current reward/profit levels. A business model must support us in terms of covering all the running costs along with saving some for the future unfortunately mining is not the kind of business model and this is the core reason why I decided to quit it completely.

OP's situation seems different. I'm not sure how people will be mining a coin until it will get delisted from exchanges. Because you need to check the profit level of your mining with respect to current exchange prices of that coin. I am not sure how OP had missed that. Due to heavy competition I guess now onward people may simply go buying rather than risking in mining.

[TopT3ns]

I never heard nor read about these coins. Mining is still good but for good coins like Bitcoin in only one condition if you have free electricity or the electricity cost is very low. Always search the good project before investment otherwise you will lose all your precious money.

I think mining coins in 2020 and the increasing number of years it will be less profitable because it is very high electricity costs with the results obtained that are not too much will only make a loss, it is better to directly buy coins at the exchange.

[leea-1334]

now focus on altcoin that's on the top list or with a considerable profit when you mine them.

Basically in this sense I would forget anything that was created after 2016,,, because it will all end up a waste of electricity to mine them hoping for next altbull that may or may not come. Same as staking. Waste of space and effort and I have been there so I know!