Back then and Now, lesson learnt

[wozzek23]

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

If you look into our usual life, there are similar lessons we can find out. I mean everything we must do only after finding out the reasons and anything without proper due diligence will always end up in vain. So, if you would have found time to analyse on finding out high-quality projects then you might have saved all your time and energy by this time. You simply rushed toward the core part of work by missing out what is actually needed. This can be compared like putting all out efforts for a company which is about to be bankrupted.

I have also mined few coins but I sold them time to time so that I could cover my running costs. This could be the reason why I am finding myself safer even I have engaged with shitcoins in the past. I mean saving for long-term must be good idea but when you are saving a shitcoin for long term then this kind of situation is unavoidable. Simply, due diligence on the worth of the coin is key here.

[chanc3r]

I assume low risk low return or even no return at all, these coins which can be easily mined also means that the coin has no miner and not so popular, that's why they are really easy to obtain but if it's gonna be useless at the end i will prefer not to mine at all.
in the past there are many new coin making innovation and one of them could be mined from a smartphone but turns out the project is dead.

[Savemore]

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.

There is a popular quote and for sure you heard about it and it is "learn from the mistakes of the others". We can avoid a lot of mistakes if we will try to listen to other people's experienced and mistakes. Of course it is a waste of time if we are going to not listen to them and to make the some mistakes that they did. For those people who will make investment, make sure you know what you are doing and be aware on the risks that you are taking.

[Festac]

A popular minable coin will only go on with low difficulty for just days or week, if you don't join in time the difficulty rate will become so higher this making your result to be low, be careful with low difficulty coins, the reason why they are easy to mine still is because the project is not good, I remember in 2017 when electroneum came around the Mining difficulty surged up in just few days

[South Park]

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

Mining coins especially new coins is always risky, however the risk can be lowered somewhat if you decide to mine many coins at the same time, this is going to reduce your potential profits if one of the coins skyrockets but it is also going to make it less likely that you completely waste your time as you are bound to at least get some money in return for your efforts, the problem is that it is difficult to predict if you would turn profitable as it will probably take years before you can sell your coins for profit.

[Looper_U]

I enjoyed mining new coins in 2018, 70% of the new coins I mined ends very well but I sold real too quick, I mined coins like Havven and Leviar which are cryptonote Algorithm coins and I mined few bad coins, OP shouldn't blame himself too much, he just mined the bad coins

[Paycoinzzz]

I have also wasted my time on bad projects. Although it is time for bitcoin to be in the uptrend season, there are still many scam projects or failures. Since then, I have learned that lesson is to take the time to learn about the market and how to evaluate a project. Your time and effort will never be a waste if you try to find a good project. Most of the bounty hunters here rarely check projects, they only participate in projects with reputable bounty managers without knowing the project. Don't be like the crowd, working hard will help us be more productive and make more money.

[KaratX]

So many people are still gathering such coins now all in the name of raindrop or faucet. Many of them believed that when bull run come they can make their millions just because they are holding these coins in millions, but I bet you, those coins will die without a trace.

Faucets can't get one rich no matter how hard they try, it's better to avoid new minable coins unless you really see a project with good potential like how I spotted electroneum in 2017, etn team already abandoned cryptonight Algorithm so you can't mine it anymore, take your time to do research on projects before anything

[Grenee]

Have learnt different lessons in this cryptocurrency space back then with just airdrop you can earn good cash before I totally move to Bounty. you hodl altcoins and make profit but my lessons throughout 2019 really shows holding is a pretty scam.. Many of the project I work for later exit scam..

[flagpara]

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

Mining is very easy work to do if we have enough space, but it will be sad if you choose a scam coin. Earlier in the day, most of the coins were easier to mine, even Ethereum. I have had enough experience with these Electroneum and Hdac coins but I didn't mine. The next plan is mining but only top coins Ethereum ( Before launch Ethereum 2.0 ) and Bitcoin.

[Yatsan]

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, it seems like you have done that years before and maybe you were just a newbie way back then. Then, what you have done was just a normal initiative for a newbie that wanted to explore the whole cryptocurrency world. Many are doing mining those coins that are really easy to acquire thinking that earning lots of coins can make them have a lot of capabilities to earn more income by doing such thing. That is when the hype of projects are still which might be on year 2017 to 2018. Well, having such an experience is just fine because we do learn from every single thing we have in the past and apply it into the current situation we have. At least you have learned the importance of every coin you were earning and lead you to conclusion that not because it is easy to be mined, income will be easy to come. This will just really come into realization of what you have done before might be right or wrong but then at least whatever it is, you have learn already what is the best thing to do. There is always a lesson for every single thing we do because what we experience can be something to be treasured.

[Kelvinid]

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

Mining is very easy work to do if we have enough space, but it will be sad if you choose a scam coin. Earlier in the day, most of the coins were easier to mine, even Ethereum. I have had enough experience with these Electroneum and Hdac coins but I didn't mine. The next plan is mining but only top coins Ethereum ( Before launch Ethereum 2.0 ) and Bitcoin.

With relevant to the current situation, I would say that mining, especially for altcoins it seems to have a big risk and most probably having a losing ends. To know that mining is not really profitable this time, in fact, a lot of mining industries had to stop their operation because of their huge expenses and more on losses. Quite to say that it is much better to be just holding potential coins rather than to take the risk in mining that obviously we got nothing in the end. We're not supposed to think that way, we wanted to make money not to lose it either.

Well, that would be the best option before but taking into account that the trend is changing and we really know the harsh situation, how was impossible to generate income with that. No nothing.

[South Park]

I enjoyed mining new coins in 2018, 70% of the new coins I mined ends very well but I sold real too quick, I mined coins like Havven and Leviar which are cryptonote Algorithm coins and I mined few bad coins, OP shouldn't blame himself too much, he just mined the bad coins

Since there are some people like you that were able to get profits out of their time mining new coins and for the most part the only decision you need to take as a miner is which coin to choose to mine then all the responsibility lies with you when you fail to make profits, after all you cannot really blame anyone else since no one forces people to mine coins and they do it believing that down the road they will obtain some profits as such it is better to own our mistakes so we can improve upon them in the future.

[ahmia39]

I enjoyed mining new coins in 2018, 70% of the new coins I mined ends very well but I sold real too quick, I mined coins like Havven and Leviar which are cryptonote Algorithm coins and I mined few bad coins, OP shouldn't blame himself too much, he just mined the bad coins

Blaming yourself is even better than blaming others, coin mining is also almost the same as choosing a bounty or airdrop campaign, because not all coins we mine can get good results, as well as bounty and airdrop campaigns, everyone must be right really filter it first so they don't get stuck in bad coins.

[PerfectCircle]

I enjoyed mining new coins in 2018, 70% of the new coins I mined ends very well but I sold real too quick, I mined coins like Havven and Leviar which are cryptonote Algorithm coins and I mined few bad coins, OP shouldn't blame himself too much, he just mined the bad coins

Blaming yourself is even better than blaming others, coin mining is also almost the same as choosing a bounty or airdrop campaign, because not all coins we mine can get good results, as well as bounty and airdrop campaigns, everyone must be right really filter it first so they don't get stuck in bad coins.

Good one, Mining new coins is just as risky as joining bounties and airdrops, it's all about trying your luck over and over, what OP did wrong is giving up, if I were him I would keep mining them shitcoins, one will eventually turn good, having bad results is a thing but not giving up is another

[rahmathidayat93]

Good one, Mining new coins is just as risky as joining bounties and airdrops, it's all about trying your luck over and over, what OP did wrong is giving up, if I were him I would keep mining them shitcoins, one will eventually turn good, having bad results is a thing but not giving up is another

If you continue to mine the shitcoin, then your time and energy will be in vain, because there are no bad people who turn out well in cryptocurrency, if they are scammers, then they will always be scammers in crypto.

[Rowenta]

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

You put aside research and start mining this coins because you are interested only in how many quantities of the coins you will get, I believe that's why you couldn't sell off even when they are trading on exchanges, I'm pretty sure you've learn one or two lessons here, apply the lesson learnt and don't give up, good new projects still shows up

[adzino]

I assume low risk low return or even no return at all, these coins which can be easily mined also means that the coin has no miner and not so popular, that's why they are really easy to obtain but if it's gonna be useless at the end i will prefer not to mine at all.
in the past there are many new coin making innovation and one of them could be mined from a smartphone but turns out the project is dead.

All those "new coins" that can be mined through smartphones are scam! They are mainly a pyramid scheme. You will notice one common trends with them. They will tell you to invite your friends to get some free coins. I remember one of those coin (it was probably something called pi coin).
They run on the background not for mining any coins, but to collect your data and sell them.

[ned.ryerson]

I assume low risk low return or even no return at all, these coins which can be easily mined also means that the coin has no miner and not so popular, that's why they are really easy to obtain but if it's gonna be useless at the end i will prefer not to mine at all.
in the past there are many new coin making innovation and one of them could be mined from a smartphone but turns out the project is dead.

All those "new coins" that can be mined through smartphones are scam! They are mainly a pyramid scheme. You will notice one common trends with them. They will tell you to invite your friends to get some free coins. I remember one of those coin (it was probably something called pi coin).
They run on the background not for mining any coins, but to collect your data and sell them.

you are right about the pyramid scheme, but this is not always bad. If we look at the price growth algorithm of any coin, then we can see exactly the same scheme. the more people buy a coin, the higher its price.

[SistaFista]

I think the most important thing other than the real use case from the coin is, the team behind the coin.
The developers of the coin should maintain the coin, use the premine for listing and marketing activities, engage with community, and other things they can do to create the value of the coin.