I believe I made the right choice

[Greatdev]

I ended up selling all my mining rigs to to advantage of this altcoin season, some could say it's a stupid move but I did this because it's the best option right now, the profits I'm making from my miners are not that much anymore, it's more like my setups can't keep up anymore, instead of investing on new miners i decide to buy top altcoins like Ethereum, LTC, XRP, BNB, Chainlink among the rest

If you have some old rigs or about to go obsolete setups I suggest you do the same before altcoins reach a new all time high


altcoin season won't last forever but I can make ROI faster than waiting for months or even years to recover my invested money on miners and electricity

[Tomiwa_akin]

It's a good choice for you. But have you considered going back to the mining when you feel the altcoin season is done.?

[Teraboy]

that's the best choice. If you are a small miners and you have no choice than sold all of your mining rigs and use the capital return as the main way to get more profit from the market.
Everytime the difficulty will increase and if you are not adding more and more mining rig and you will get nothing from your mining activities.
This time those who have bought ripple last week can get 100% return instantly.

[Dariusburst]

You made the best choice OP, you can still go back to the mining thing once you made enough money from altcoin this year or next year, I'm sure you will be able to buy better miners that will last you for years and also have some money left too, I like the fact that top altcoins are your choice, XRP is already very bullish right now and bitcoin is still going over 19,000$

[mu_enrico]

Yes, mining is only suitable for a business in a dedicated facility to be profitable since you will get a special rate for electricity and the hardware (if you purchase in a large quantity). I used to try mining, but the ROI was not good, and the hassle of maintaining the rig was too much.

Selling hardware that still has some salvage value certainly a good thing, but it is also a difficult decision. Who knows if the hardware price will skyrocket just like the last alt season?

[angrybirdy]

You made the right choice. And if you believe that this is something that you will never regret in the future, you have nothing to worry about yourdecision anymore. You have made the right choice by realizing that you can have more profit if you will take advantage of this altcoin season, you can really make more money as long as you have a lot of invested altcoin than mining as of now.

[joseyphil82]

Yes, mining is only suitable for a business in a dedicated facility to be profitable since you will get a special rate for electricity and the hardware (if you purchase in a large quantity). I used to try mining, but the ROI was not good, and the hassle of maintaining the rig was too much.

Selling hardware that still has some salvage value certainly a good thing, but it is also a difficult decision. Who knows if the hardware price will skyrocket just like the last alt season?

Mining ROI is only good if you have free electricity but still not close to the benefit one can get from altcoin season, OP made the right choice to invest in top altcoins instead of buying new miners right now, he will be able to afford new miners later and still have good profits in hold, he is a wise man and I hope others learn from him, to get back a ROI mining with GPU will take you a whole year and half while altcoin season will only be around for few weeks or two months judging from 2017

[SyndicateLabs]

I think your decision was very positive to succeed in the altcoin season, and what has happened over the past week, you can most clearly see in the top 5 where XRP has increased by more than 100%. That is a very good sign for altcoins, there are a lot of coins going up and going up.

[john_nautica]

I think that's a good choice. For what I think right now it's better to take advantage on the altcoins season than rig mining. Well I didn't expect that the altcoin bull run will be this quick I was hoping that it would continue especially the XRP.

[cryptoknightt]

a wise choice and everyone has the right to make their own choices.
We know that some altcoins or even BTC will hit the new ATH in time (only a matter of time).
and after ETH changed its version to 2.0 I think mining is no longer needed because it has used a POS system which is usually POW.
a little advice from me buying BTC is also not a bad choice for now.

[minatour]

You did well, that's a good step to make more money from this bull run season, investing on top altcoins now will surely yield good profit with time and before the end of the year, you will definitely be smiling at your income.

[Psynthax]

I personally think that's the right choice considering a small individual miners nowaday don't make that much anymore not to mention big coin like ethereum which usually is preferred to mine now switching to POS. Just switch over to staking instead of mining you will never think about maintenance, electricity or any of that kind.

Also everytime new GPU which produces higher hashrate comes out there goes your portion of reward it's just not viable option for small miners.

Without mining atleast you won't think or get stressed with all the technical things.

[coin-investor]

I ended up selling all my mining rigs to to advantage of this altcoin season, some could say it's a stupid move but I did this because it's the best option right now, the profits I'm making from my miners are not that much anymore, it's more like my setups can't keep up anymore, instead of investing on new miners i decide to buy top altcoins like Ethereum, LTC, XRP, BNB, Chainlink among the rest

If you have some old rigs or about to go obsolete setups I suggest you do the same before altcoins reach a new all time high


altcoin season won't last forever but I can make ROI faster than waiting for months or even years to recover my invested money on miners and electricity

Yes you made the right decision, you are not only saving time and electricity but you are also saving worry because there's no money to be made anymore in mining if you are a small-time miner, some other miners right after the halving sold their mining rigs and turn to buying coins instead, it's not yet late to do what other miners are doing now, especially now that we are in the bull market.

[ningrum]

buying top altcoins like XRP, LTC or Ethereum is indeed a good choice,
when the price of Bitcoin goes up, the top altcoins will also go up, and look at the fact that top altcoins go up high,
even XRP is up 100% more.

[electronicash]

if that is what you say so. isnt mining a co tinius earnjng than investing to altcoin which you have to wait to profit. the bullrun isn't going to make altcoins shoot up over night. you will still have to spend every day too.

i hope you have sort other source of income other than mining. because holding altciins will take months to wait substantial profit.

[jessyj48]

It's definitely the time to invest on altcoins instead of mining altcoins, if you are smart you'd know that it will take you days to make insane ROI if you invest on top altcoins compared to mining 24hrs with electricity that won't make a difference until you recover your ROI, that's gonna take you a very long time and there is a chance that your miners would die in the process or become obsolete

[toast]

i'm not really sure about mining since i'm not into that field. i'm not sure which can we earn more mining or trading? so i'm not really sure if your decision was right or wrong but as i can see you think it's a good choice then that's really good to know.

[Novatech8]

It would have been a different case if mining is becoming more profitable as the market is growing day by day but unfortunately the gains from mining stays the same, in this case it's better to sell off obsolete miners and graphics card and buy some promising altcoins instead, leave mining for later, that's the best move right now

[awakpane]

In my opinion, the steps you take are good at making the best choice, especially considering the current developments it should be to buy the top altcoins that are experiencing a significant price increase in the crypto market.

[ethereumhunter]

I like what you did with your mining rigs. You can use the money to buy any coins you mention before that coins in your list will increase. With the altcoin in your list, you can make a profit, especially if the altcoin season will come to us so soon. You will see that the altcoin will increase one by one, and many of them will give you a profit.