Back then and Now, lesson learnt

[Doranile432]

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

Mining is a waste of energy? Many people probably said the same thing when you can use a Pentium 4 Computer to mine 10 or more Bitcoin per day in 2010, it was the same story with ethereum, many become a whale today because the mine Bitcoin and Ethereum when they are easier to acquire, mining new coins is not a waste of energy, you just have to figure out which coin is good enough to mine

[iTradeChips]

3 years ago I was also fond of many coins, especially the ones that are proof of stake. I spend time making sure all of the wallets work and are making a few coins. Now all except one are no longer working but I still have their files so I can basically get them and then run them on another computer. It was an interesting experience because you learn more about the working of cryptocurrency and I would suggest new to cryptocurrencies to give shitcoins and proof of stake coins a shot as well - not for financial freedom reasons but as a learning experience.

[Towerbreeze]

Everyone thought it was that easy to make money by mining new coins, they thought they can get rich fast because many lose opportunities when Bitcoin and litecoin was easy to mine, what they don't know is scammers are in the game now, it's hard to mine a new coin that will survive nowadays

[Lordhermes]

Back then and now, not only mining with CPU and GPU, or something. Participating in Airdrop makese think and realized that I have made a mistake of tasking for shitcoins all the time leaving a wide varieties of valueless coin in my wallet. I learnt from my experience and I hope so therefore newbies will also learn from their experience.

[Zotak337]

You don't waste any time OP, in fact you've have more experience about crypto and how it works using proof of work Algorithm, what you did wrong here is holding the wrong crypto coins, I mined few good altcoins myself, just more luckier than you

1. Karbowanec
2. Intense coin ( Leviar )
3. Crepcoin

I made good dollars out of this coins, I would have make more but my mining setup was too old

[crustycrab666]

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.
~

Many of my friends used this method. Some are valuable and some are not. In the past, this method was quite effective and profitable, the situation at that time was very different from now. Even though it looks like a pump and dump coin, but if we can get the right timing it will get a lot of profit. I saw that proof from friends' success. However, this method seems less effective now.
Even projects that look promising can end up being scams and we get nothing. An in-depth analysis is needed regarding the product and its functionality.

[Chuky92]

Seriously use case is the most important thing to check first before even thinking of investing in any project. Most project's ideas only exists on whitepaper where the team can appropriately state how they are going to carryout their development and all that, but once fundraising is concluded, the team will end up building a different thing altogether, that is, if at all they will even build any. So therefore, it is wise identifying the use case within any project and making sure to check if it can be applied in the world and to successfully ascertain this, the experiences and skills of the team needs to be taken into account.

[Perfect35]

Gone are the days that mining was in vogue. Whenever a project, then, introduces this feature, people tend to believe more in its potentials, to the point that, most of them started introducing it more to theirs. Today, something else is working more for people, not even masternode, which is the easier version of mining. So, many projects are no longing to bring that in, which means that the crypto community is after much more interesting features.

[Lanatsa]

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 cant really blame of myself if indeed do those kind of mistakes because we do had in mind that those coins might really soar up like other alts did when its still starting up.

When we do mine on earliest days then tendency on making yourself rich is there but with some mix of sort of luck if i were to say.It all matters with the potential

and dont blame out yourself because it is indeed part of experience that we should gonna learn and realize things up.

[IvugeoEvolutionCoin]

Some of us into mining wayback still have useless coins which are dead presently, this doesn't mean one should blame himself for keeping the coins hoping it worth something tangible in future. This conception actually worked for a few coins, and was profitable for those whose major intention was to sell off and not to hold. Lesson learnt anyway, we move.

[StephenJH]

Everyone thought it was that easy to make money by mining new coins, they thought they can get rich fast because many lose opportunities when Bitcoin and litecoin was easy to mine, what they don't know is scammers are in the game now, it's hard to mine a new coin that will survive nowadays

There are a lot of people, who think that it is easy to earn profit from mining. If you can be enough patient, you can get profit from mining, but it will not so quick money as think. But it is not easy as expected, before everything you need to have good knowledge about that and also great equipment. Scammers are also a huge problem, but more than that l think it is more important to choose coin for mining. That is why coin which useless can be wasting time for mining.

[NS-Soul]

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 in newbies they are always think is how much they can get on the profit and they will calculated it and they will hype their self on it which is not a good idea, sometimes they will be hype by their friends because of the profit return but they didn't realize if it is true or not, being a newbie is very hard but after newbie and you learn some it was a good experience.

[Jating]

Everyone thought it was that easy to make money by mining new coins, they thought they can get rich fast because many lose opportunities when Bitcoin and litecoin was easy to mine, what they don't know is scammers are in the game now, it's hard to mine a new coin that will survive nowadays

There are a lot of people, who think that it is easy to earn profit from mining. If you can be enough patient, you can get profit from mining, but it will not so quick money as think. But it is not easy as expected, before everything you need to have good knowledge about that and also great equipment. Scammers are also a huge problem, but more than that l think it is more important to choose coin for mining. That is why coin which useless can be wasting time for mining.

I almost fell for this mining and all the money that you are going to earn in the past. Good thing is that I research everything and I said that this is no longer profitable and it's really hard to earn. And if you are going to get some profits, it is still miserable as compare to the investments and initial capital that you are going to pour in, not good.

But majority of newbies are falling for the trap and not doing some proper investigations and simply believed that crypto mining is a money making machine, it is not.

[TastyChillySauce00]

Everyone thought it was that easy to make money by mining new coins, they thought they can get rich fast because many lose opportunities when Bitcoin and litecoin was easy to mine, what they don't know is scammers are in the game now, it's hard to mine a new coin that will survive nowadays

I guess they know about the scam coins but they have no choice rather than try to mine new coins and bet on it. So many times the small miners were getting deceived by new scam coin. They were searching for the hype that usually happened with new coins.

[SlimShadyMmp]

I was in that trap too heating my computer up for the next Ethereum is what i kept doing acquiring some flashy coins that are just useless trophies now but the truth is market have seriously changed now and obviously investor are more depth focused than before

[pilosopotasyo]

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


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'm not yet active on Cryptocurrency when these CPU mine coins are ruling the industry, but I read that many coins have died down or become obsolete because there is nothing on those coins that will give them value and people have matured that they are now looking for usage.

[Taufik blackspade team]

I'm not yet active on Cryptocurrency when these CPU mine coins are ruling the industry, but I read that many coins have died down or become obsolete because there is nothing on those coins that will give them value and people have matured that they are now looking for usage.

You are right, there are many coins from mining to date, even some that have no value. something bad when mining is done to obtain assets that are meaningless even for a long time.

[Mpamaegbu]

The OP paid a price in exchange for experience. I don't think there's any veteran member here who didn't make a silly investment mistake too as a newbie. We all did. And that's the badge of honour we got in exchange for the experience we share today. So, it's left for the newbies to borrow a leaf from that or go ahead and make their own mistakes themselves. It's the same way you won't catch me dead playing faucets.

On OP's last line, the use-case or utility of a project is what informs my judgment this day going into any crypto investment. Any project without a use-case won't get my attention, no matter what hype it attracts.

[isaac_clarke22]

I never heard any of those coins you mentioned but looking  from how you invested for those, it seems like you learned your lesson from it.
I earned some quite few tokens back then realizing they're also dead coins right now.
This shows that the variation of the coins in the market doesn't really give too much opportunity to invest at.
Plenty of opportunity is kind of a overstatement, because most of them ended up to be a shitcoin anyway.

[JHORN]

Too many new CPU and GPU coins died since 2017 and today on very few survived, electroneum is one of the few projects that survive, mining new coins is like looking for new projects to invest on today, it's almost same kinda risks, you can never tell which one will survive years later, mining new coins is not that encouraging