Back then and Now, lesson learnt

[ven7net]

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

I believe that you did everything right, you wanted to earn money and for this you chose a lot of different projections and cryptocurrencies. It is worth noting that earlier the crypto sphere was only gaining momentum and almost all coins gave good profit, but there is a moment. Many, including you, were waiting for a huge income to get rich and therefore kept these coins. Now they are worth nothing and you have not received the expected profit. I went the other way. I participated in various companies and immediately sold the coins I received. He left only a small part and did it right. It gave me the opportunity to make good money. I think that waiting too long is also bad.

[Byakuga]

I hate to break this to you, most new mining coins are built by upcoming developers who aren't pro yet, they are just testing out how to make coins works and in the end they pump and dump the coins, that's the end, no more development or such.

[OasisDre]

Mining new coins can be profitable at times but make sure you are selling them off instantly as you are getting paid, mine new coins to sell don't mine to hold, you can easily convert them to Bitcoin or litecoin, most new coins never planned to stay long, they are just short term opportunities

[Samayuki]

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

These coins are all trading in the past, you should have sell them for better coins, why did you hold them? They aren't that good for long term holding, these coins are perfect for those who don't have high end mining setups, you can easily mine them with mediocre CPU and GPU, anyways you've learned your lesson and that's the most important

[makishart]

Mining new coins can be profitable at times but make sure you are selling them off instantly as you are getting paid, mine new coins to sell don't mine to hold, you can easily convert them to Bitcoin or litecoin, most new coins never planned to stay long, they are just short term opportunities

The problem is when your coin is not even listed on a single exchange site and how you able to sell your coin? this is the main question caused by mostly new coins that already mined have not yet traded on the exchange site. You should aware if these even have a lot of possibilities to be rejected by exchange site.

[Greatdev]

Mining new coins can be profitable at times but make sure you are selling them off instantly as you are getting paid, mine new coins to sell don't mine to hold, you can easily convert them to Bitcoin or litecoin, most new coins never planned to stay long, they are just short term opportunities

The problem is when your coin is not even listed on a single exchange site and how you able to sell your coin? this is the main question caused by mostly new coins that already mined have not yet traded on the exchange site. You should aware if these even have a lot of possibilities to be rejected by exchange site.

Worktips was once listed on tradeogre, gadcoin and marketcash was listed too but not anymore today, I guess they are delisted from exchanges because of too low trading volumes, op shouldn't have hold them, mining and selling is the best way to make profit with new coins

[Deeshawn]

Over years, have learnt my lessons regarding holding altcoins, held alot of altcoins 3 years ago in which worth nothing currently, I was holding with the mindset it will pump more and I will later cash out big, not knowing the project is not a solid one to hold for a long time. I hope newbies learn from this, anytime you earned token that worth something in the current market, is better to sell it and invest the cash made from it on top coins.

[Pamadar]

Mistakes will help us to find out new things in crypto, of course, even I have faced many challenges while choosing crypto and lost a lot of money.

Learning from how you experienced things will give you much better looks with another project to invest your money and time. With such
previous mistakes you'll be able to enhance your criteria in picking your participations.

Instead of investing in ICO's and IEO's better trade already listed coins which have already launched their main net and it will help the coin to generate some decent volume.

There also traders who do both, while investing with IEO's  they also dealing with trading.

[fuer44]

besides the use case, there are many more that we must pay attention to if we want to buy or mine new coins. such as the soft cap and hard cap from the development team that sometimes they give false info, then where will they slag their coins. because in the end the coin will be successful if it is successful in listing to an exchange that has a high market cap and a high coin exchange rate. luqidity is also very important here.

[Jannyh]

Thanks for this information, atleast it's a wake up call for newbies and every other person to do research before investing his or her time and money in any project and to know that some projects are just for profit taking while some are for long term hold, so choose wisely and know what to hold.

[Anonylz]

Most of the project in the market are mostly for short term, the team do not have the intention to maintain this project long term, this is among the reason why some coins will just appear to be dead or completely dead and abandoned, they have already achieve their goals and will leave the project,
So it is very necessary to always do a bit of research and ensure that the team behind the project are active, project have a good approach in blockchain with a use case.

[kindbtc]

It is sad to see that people learn the hard way by wasting time and money on obviously useless projects and coins, i am not singling out anyone so do not feel bad we are all in the same league and have been scammed in one form or the other, so for newbies who are entering the market i will just suggest to stay in btc because you will not be able to absorb all market data instantly rather it will take a lot of time so till you learn and know the facts fo not take a leap and invest in shiny looking coins it is a friendly suggestion.

[Ifemini]

The word lesson learnt goes a long way in the crypto currency space today; it means that we have survived a dump, or missed out on a valuable project; and we have taken a step back to find out why, fix it, and then proceed to make the most of today; be researching and having a better knowledge of crypto currency.  Everyone should do this, be it a trader, bounty hunter or an hodler.

[Balladtony77]

Lack of knowledge can make you do stupid things at time but to achieve knowledge sometimes there will be losses, I'm glad you've learnt your mistakes, I mined some coins in 2017 and I hold unto them even when they surge in January 2018 in the last altcoin season, this is my biggest mistake that I regretted big time, now most of those coins are dead, they aren't very good but just got pumped because of the bullrun

[jahepahit]

the reason why people fall prey for minning coins is because of easy access and projects usually use it to get more people engaged as its free. majority of the newbies dont know that the real profitable mining comes with real investment while the regular mining with computer takes longer time to bring anything reasonable.

[Fredomago]

the reason why people fall prey for mining coins is because of easy access and projects usually use it to get more people engaged as its free.

To attract more involvement inside the project, developers bring this venue for people who wanted to receive shares using their personal devices
for those who don't know much the value is far lower than the amount of energy cost from their devices.

majority of the newbies dont know that the real profitable mining comes with real investment while the regular mining with computer takes longer time to bring anything reasonable.

You need to have a good understanding regarding to the coin that you'll going to mine, you need to research which coin do have real potential in case you'll be taking it as long term investment, long hold for much higher outcome once the project achieved its goal and receive more investors interest.

[jessyj48]

the reason why people fall prey for minning coins is because of easy access and projects usually use it to get more people engaged as its free. majority of the newbies dont know that the real profitable mining comes with real investment while the regular mining with computer takes longer time to bring anything reasonable.

You got it wrong, you're making mining sounds like a trap, new coins have less difficulty rate, ethereum was once so easy to mine, OP chooses wrong coins, I can name few new altcoins in 2018 to 2019 that still have good value till date like Havven, Loki, dero, electroneum and many more, if you can mine them very early you will have many quantities of the coin

[abeecrypto]

Yeah, I have got friends who did that. They were going all-in because the coins were cheap to mine and they hoped the prices would go up in the future. And they did little or no research on those projects before putting time to mine such coins. I was almost falling into this hole. A project without a real use case is potentially a shitty project.

[Kelvinid]

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Yeah, I have got friends who did that. They were going all-in because the coins were cheap to mine and they hoped the prices would go up in the future. And they did little or no research on those projects before putting time to mine such coins. I was almost falling into this hole. A project without a real use case is potentially a shitty project.

Likewise, people who don't understand what they are doing will actually be brought to nowhere and probably got lost. Mining is really profitable 2016-2017 because the market is already in the surge, in fact, a lot of people jump into mining. But unfortunately, it was the year (2017) that also make them suffer losses as the situation drastically out in the performance after the surge.  
People are keep expecting it recovers shortly but somehow, and until today, we don't even see some glimpse of it. It was then that mining getting worse makes small mining companies getting paralyzed.

[shoreno]

same happen to me when i was starting my career on crypto . i got interested of mining on my own using only the gadgets that i have because they say its possible but idk why i never proceeded . it automatically written on my head that ill only got crap coins so its not worth it  .  now you prove it here that my decision back before are correct . mining is a waste of energy if if your mining a bad coin , next time if we want to mine we should get the right equipment first to be able to mine the best coins  only