Back then and Now, lesson learnt

[Sanugarid]

The importance of real use case

this has been the first question I ask myself when I see a new project or existing projects.

If we are talking the use-case of a coin there is no better than that with ethereum because of its smart contracts. There has been some massive speculation that the ethereum will be bigger that it is now, might be bigger than bitcoin because of adoptation we're going to make with it in the future. I even read that reddit is testing some reward system with ethereum, once they are able to do that I'm sure many social platforms will do the same.

I think I got hooked on that phrase: "does this project have real use?". But being honest with you there are few projects that, even with some real use, can be very successful, maybe it is the lack of dedication of the project team, and imagine projects that have no real use? there are times when I look at 20 projects and I don't find 1 useful at least

Some of the investors just compute the profit they are getting "if" the project succeed. Not even thinking of its use in the future *facepalm*

 There's no doubt why we can't move on with the scam projects back then  

[Ryushin]

Many projects have good real use cases but many still don't survive, use cases ain't the only thing to focus on when picking coins, some use case aren't supposed to be on blockchain because no one needs them, know the type of use cases that will survive in crypto space first, don't just pick because they have use case

[Ryushin]

I don't know if some newbies are still doing this today, if you are you'd better stop right now. Many new coins can be easily mined through a single CPU or GPU but 90% of them are trash coins, you need to understand how important use cases are.

In the old days, three to four years back I was so obsessed with new coins simply because they are easy to acquire, mining them is easy and difficulty are low, this got me blind so I started mining coins without getting into good research first, I ended up with coins like

1. MarketCash
2. NiobioCash
3. Worktips
4. Spotme
5. Gadcoin

And so on.....
These coins are all dead or useless right now, few are trading back then but I was too dump to sell and buy better coins.

Today I asked myself why did I do that back then, I guess it's because I never knew the difference of high quality projects and why some coins make it to top 100, If you are reading this make this your targets

The importance of real use case

All the coins you choose to mine are all shitcoins, you should have sell them off while they are still trading on exchanges, I know niobiocash and it's still trading on exchange but the value have gone down alot and worktips was abandoned, another team took over but doesn't still work out

[memed97]

Many projects have good real use cases but many still don't survive, use cases ain't the only thing to focus on when picking coins, some use case aren't supposed to be on blockchain because no one needs them, know the type of use cases that will survive in crypto space first, don't just pick because they have use case

Very smart thinking, but you also have to be smarter in turning your own mind, if a project that has a real use case is not safe, then a project that does not have a real use product will be even more destroyed in the crypto world, this is a terms of comparison between a good project with a project that is not good.

[FireBallex]

I don't know if some newbies are still doing this today, if you are you'd better stop right now. Many new coins can be easily mined through a single CPU or GPU but 90% of them are trash coins, you need to understand how important use cases are.

In the old days, three to four years back I was so obsessed with new coins simply because they are easy to acquire, mining them is easy and difficulty are low, this got me blind so I started mining coins without getting into good research first, I ended up with coins like

1. MarketCash
2. NiobioCash
3. Worktips
4. Spotme
5. Gadcoin

And so on.....
These coins are all dead or useless right now, few are trading back then but I was too dump to sell and buy better coins.

Today I asked myself why did I do that back then, I guess it's because I never knew the difference of high quality projects and why some coins make it to top 100, If you are reading this make this your targets

The importance of real use case

To me all these coins are just experiments for the developers, they are never damn serious about them, I remember gadcoin, it was created in 2018 but it offers nothing than just mining and selling, you can easily detect that the team aren't serious, anyways you've learnt your lesson and that's what important right now

[ethereumhunter]

I don't know if mining the new coin still profitable or not, but if I see that the amount to get from the mining process can be big, but unfortunately, that coin will not have a good price at the market or that coin don't have a market. If you want to try to mine back the new coin, you should search which coin that has a good future and have the potential to increase in the future. But I don't think that will be easy because it's like to find the gem in the ocean.

[Furryball]

I mined some coins too because of low mining difficulty at the time but many of these coins are disappointments, I mined
1. Stellite
2. Solace
3. BBScoin
4. Qwertycoin
5. NXboost
6. Kepl

I find out later that all these coins are just short time pump and dump coins, they died before I was even able to sell them off

[matchi2011]

I don't know if mining the new coin still profitable or not, but if I see that the amount to get from the mining process can be big, but unfortunately, that coin will not have a good price at the market or that coin don't have a market.

A very good question that's needed to review upon before mining new coin market and listing should be one of the basis.

If you want to try to mine back the new coin, you should search which coin that has a good future and have the potential to increase in the future.

Indeed. You should take time to investigate with the project if there's really potential that you will see in the future.

But I don't think that will be easy because it's like to find the gem in the ocean.

But still possible, doing your homework will not waste your time and your miners energy.

[danherbias07]

Any tips of what is better since you can now differentiate what a good coin to mine or not?
You are still mining right?

Or, should we just stay with the new kind which is staking although it may cost a lot of investing in a larger portion to be more beneficial.

[junkerr]

I mined some coins too because of low mining difficulty at the time but many of these coins are disappointments, I mined
1. Stellite
2. Solace
3. BBScoin
4. Qwertycoin
5. NXboost
6. Kepl

I find out later that all these coins are just short time pump and dump coins, they died before I was even able to sell them off

they don't have a clear product. the coins will obviously die soon and they will come back clear and then do the same. Try to find a coin that is better for you to mine. or you can try to participate in several stake programs from several exchange platforms.

[rahmathidayat93]

I mined some coins too because of low mining difficulty at the time but many of these coins are disappointments, I mined
1. Stellite
2. Solace
3. BBScoin
4. Qwertycoin
5. NXboost
6. Kepl

I find out later that all these coins are just short time pump and dump coins, they died before I was even able to sell them off

they don't have a clear product. the coins will obviously die soon and they will come back clear and then do the same. Try to find a coin that is better for you to mine. or you can try to participate in several stake programs from several exchange platforms.

He showed the coins he had mined in the past, where he did not know that the coins he mined had no real products, so that until now he had no value and even had died, so he only explained about the time then, not choosing coins to have at the moment.

[Psynthax]

I don't know if mining the new coin still profitable or not, but if I see that the amount to get from the mining process can be big, but unfortunately, that coin will not have a good price at the market or that coin don't have a market. If you want to try to mine back the new coin, you should search which coin that has a good future and have the potential to increase in the future. But I don't think that will be easy because it's like to find the gem in the ocean.

As long as you were choosing the legit coin and you will get profit based on how much your hash power. it looks like from this case we can learn if the small miners were looking for the instant profit and that's why the majority of small miners interested to bet on the crapcoin.

[Surrapatt]

we are experiencing the same problem, I also have a lot of worthless mining coins in the past but since 2019 I no longer trust coin mining because I think it is detrimental and a waste of time

Yes, if the coins that are mined are coins that have no quality or value, then it will obviously be detrimental and a waste of time, so whatever the main thing to look at is the selling value of a product, if the product is clear, then the value there will also be sales and it can even be very expensive, as well as in the case of coins or tokens.

[South Park]

I don't know if some newbies are still doing this today, if you are you'd better stop right now. Many new coins can be easily mined through a single CPU or GPU but 90% of them are trash coins, you need to understand how important use cases are.

In the old days, three to four years back I was so obsessed with new coins simply because they are easy to acquire, mining them is easy and difficulty are low, this got me blind so I started mining coins without getting into good research first, I ended up with coins like

1. MarketCash
2. NiobioCash
3. Worktips
4. Spotme
5. Gadcoin

And so on.....
These coins are all dead or useless right now, few are trading back then but I was too dump to sell and buy better coins.

Today I asked myself why did I do that back then, I guess it's because I never knew the difference of high quality projects and why some coins make it to top 100, If you are reading this make this your targets

The importance of real use case

Well, at least you did not bought specialized equipment to mine those coins so your only loss was that you wasted your time and some electricity which is very tame considered that some newbies have lost their whole savings to scammers before, however I agree with your overall message, people should stop for some time and look at the use case of the coin, if there is nothing particular useful there move on because you are on the presence of a shitcoin.

[JeotQ]

Before mining any new coins you have to do research on the projects first just as you would with ICO and IEO projects, minable coins hardly raise funds like ICO but they are very good and creating hypes and dumping on attracted investors

[sujonali1819]

It's a very normal IMO. Because many of us did this job in the past mainly during 2017. At that time market don't care about the quality project. Most of the project at that time was HOT on the market. Only a few coins that had not enough support from the project team itself were destroyed. So I want to say you were very unlucky then.

[xZork]

I guess you did that before is because that most of the projects that comes out are being bought by the investors.

In 2017 nearly all new projects achieved success, investors missed bitcoin and Eth tried to invest in nearly all new projects in the hope of making a profit from it.
But that soon passed, and people realized that it was trash projects and focused on the top coins in the market.

[ameliana]

maybe at that time you were so obsessed and have high self-confidence that some coins that have been mined will produce good results for the future, but unfortunately not all new coins benefit you. and it's also one of the important experiences not to be obsessed with new, easily mined coins.

[TutorShow]

The ease of getting something means it is cheap. people find it hard to earn gold and oil so it have value.
you can find garbage for free, but it is rubbish that no one needs.
Easy mining means that everyone will participate and the profits will be divided among many people.
there may not be any profits other than wasting sources and power

[pixie85]

This is normal that you need to invest a lot of money to be able to gain money from it.

When a coin is easily mined it means there's no competition between miners and the network is very small. Don't expect cheap coin to do wonders for you.