I believe I made the right choice

[S_Therapist]

Maybe it’s a good decision because market is on good move although we have seen significant drop today. But if there’s a long time bearish season, you may regret on your decision because you may have to sell on low price with panic. I would rather prefer keeping my rigs and mine some coins with potential good future.

[1715558410]

1715558410

[Lore06]

I have some friends in the fb group who have also sold their mining rigs but they did it about a month ago, I'm not sure if they also sell their mining rigs for the same reasons as you do, but what is clear is that they do it because the results of mining are no longer relevant. Hopefully they won't keep their money too long and pick the right choice as you did.

[militiariko]

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

Only you can boldly say that you have made the right choice; no one else can say that on your behalf. Do you know why ?
Because no one else where there when your set up your investment hub, you did not disclose in your thread when  you bought or got your rig; Neither did you state your selling point or when you took profit.

Nothing lasts forever; but the altcoin season will come and go and bring profits at those intervals; key question is do you take your chances.

[VDraci]

Since the rigs aren't profitable anymore you have no choice than to sell, even if there is no any bullrun currently its still a better idea, to keep mining for good profits you have to constantly upgrade your mining setup to current rigs, you did the right thing, also don't forget to have a price aim for the altcoins you buy, do not allow greed to consume you.

[santouao]

Right choice is up to you if either you will recover losses or you will end up with crypto,since bull run Starts and many projects are now profitable and also eth pumping continues to rise this is the right time to decide that we need to continue the business and get back on crypto.

[mamesso]

Very good decision, I believe you have made the right choice, you are making the most of the altcoin season. You can go mining at any time, while the altcoin season is unpredictable when it will come, after the altcoin season is over, you can go back to mining as you did before.

[Rebisco]

Very good decision, I believe you have made the right choice, you are making the most of the altcoin season. You can go mining at any time, while the altcoin season is unpredictable when it will come, after the altcoin season is over, you can go back to mining as you did before.

Altcoin season is coming, make sure that you have now positions in order to anticipate the rally of many altcoins. The volatility is now showing up and it is a sign that the trend is becoming more stronger than before, I hope that the trend will not yet snap and the prices of altcoins will create more base and of course market structure that indicates uptrend.

[Cling18]

That's already a good choice. You worked hard for it and earning a good profit out of it is already a good thing. They say that altcoin season could go better in the coming days but at least you have handled your mined coins well during this time. At least you already have an assurance of a good profit from your mining rigs. It's up to you if you still want to use it to invest more for future profit.

[Furryball]

With or without altcoin season mining isn't a profitable investment right now unless you have free electricity and your electricity is stable 24hrs everyday, some countries have epileptic electricity most especially african countries, it's way better to make money buying to altcoins and staking them or hold for good market time

[lionheart78]

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

Well said,  it is best to sell gadgets before it become obsolete(in this case mining rigs) because when it happens, it will become worthless.  I also agree that trading, or buying directly on the exchange will give us an option to get a profit immediately if we know what we are doing. 

With or without altcoin season mining isn't a profitable investment right now unless you have free electricity and your electricity is stable 24hrs everyday, some countries have epileptic electricity most especially african countries, it's way better to make money buying to altcoins and staking them or hold for good market time

If it isn't profitable then why are people still mining?  It may not give an immediate profit but eventually it will give  a good ROI (assuming the machine won't break at all)

[gabbie2010]

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

Its obvious that the cost of electricity in setting up and maintaining those mining ring is high while advancement in technology is rendering most of these mining rigs obsolete, you made up your mind in selling them off at the right when altcoins had began to be worthy of investing on, I believed you will recoup your investment within the shortest period of time, I also believe other miners will follow-suit your decision based on the fact that crypto mining is becoming capital intensive and very competitive.

[prince V]

There's no doubt you've made a smart decision and you made it at the right time, because the market is currently red and you have the opportunity to determine when you get in and determine which altcoins you choose.
With your decision, you have opened up opportunities for profit and you can use it to upgrade your mining rigs later.

[judeafante]

You made the right decision and you analyze it correctly, mining is not profitable anymore there are only few Bitcoin to mine and it's much easier and you can save time and electricity by just buying coins, a lot of miners when the halving ends that sold their mining rigs because it's not worth it anymore and miners are vying for a few coins to mine.

[Eddyc]

To have a good result with mining, we need a lot of computational power and also live in a country where the energy cost is considerable for you to pay. Right now when we hire mining platforms the amount of profit is not very pleasant in comparison when doing some trade on exchanges. So the best way to profit is the Daily trading.

Daily trading platforms are the way to increase your investments.

[isaac_clarke22]

~

Kinda thinking of the same back then aside from mining Bitcoins as well.
I guess the setup is already a hard investment for me because rigs these days are kind of insane actually just as much as I dreamed of having a gaming rig.
And yeah, you mentioned the maintenance

[adzino]

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

You did the right thing. Sometimes it is not worth mining coins. There are those electricity and maintenance costs that makes mining not profitable at all. And yeah, with new rigs coming and people upgrading, older rigs becomes useless. Good thing you realized this and sold your rigs to buy coins and hold them. Holding coins isn't as fun as mining, but it is a lot easier to maintain and if you invest in those right coins, chances are you will be making some good profits.

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

True, and it is a good thing it doesn't last forever. You can always start buying again when the so called "altcoins season" ends and make profit again the next time.

[krisnajsadrak]

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

i like your decision, and you do the right buddy
because in my opinion trading will always better then mining, and you choose the right altcoins too,
just wait, this corrections will over soon my friend

[NewRanger]

You made the right decision and you analyze it correctly, mining is not profitable anymore there are only few Bitcoin to mine and it's much easier and you can save time and electricity by just buying coins, a lot of miners when the halving ends that sold their mining rigs because it's not worth it anymore and miners are vying for a few coins to mine.

that's happen when bitcoin price below $10k dude , its true mining was not profitable . but when bitcoin price now raise above $16k is it not worth to mine bitcoin or altcoin ? for small scale i think yes, but for big scale it will very worth with current price. some times mining need strategy and not just work , we must use special strategy to get maximum  result.

To have a good result with mining, we need a lot of computational power and also live in a country where the energy cost is considerable for you to pay. Right now when we hire mining platforms the amount of profit is not very pleasant in comparison when doing some trade on exchanges. So the best way to profit is the Daily trading.

Daily trading platforms are the way to increase your investments.

for some people they do agree with your opinion and some of them not. miner have their own strategy to get alot profit even bigger than daily trading. have we ever heard they mine unpopular coin that not listed in cmc or coingecko yet? this kind coin will give them huge profits when its start launched in popular exchanges. it just simple strategy for miner that still exist .

[Anyobsss]

I just hope you don't regret your decision when alts get rekted again. The energy in the altcoin market isn't as strong like previously which got me wondering if they'll still perform like they did earlier this year that saw the birth of DeFi bull run.

I just hope that the OP pulled out his funds before the dip, else he must be crying right now if he bought at the high.

[MCobian]

What you have done selling mining rigs is a very good decision, because right now mining is no longer profitable. And we have to be
able to see other opportunities, which are more profitable. So I wonder if someone says you are stupid, because of your decision to
sell the mining rigs you have. I feel that your decision is correct, and now the altcoins have corrected their prices. So the money from
selling mining rigs can be bought immediately for altcoins that do have good potential.