I believe I made the right choice

[trauchot]

Of course, mining still brings good income, but of course you will have to spend a lot of money for mining, so you did the right thing by simply investing in various top altcoins and now you just need to wait until the altcoins in which you invested will start to grow in price in order to fix the profit.

[kpierce77]

If the rig you are using is old, I will definitely think about selling it. But I don't think buying an affordable top coin is a wise choice (at least for me), for example, Ethereum, which already has a high price. I think you can get a pretty good ROI if you try affordable top coins

[smyslov]

well, that's true, there are many altcoins that you can mine,
you can mine Bitcoin, Ethereum or Idena which have recently become popular,
or maybe you can make your profit by investing again with the staking feature, then you will get passive income again.

Of the three Idena is the easiest way to mine, it's a proof of human validation, where you can take a test every 15 days of the week so you can mine IDENA, you cannot mine it, unless you pass the validation this coin has a good potential you can even mine it using a VPS

https://www.coingecko.com/en/coins/idena

[Balladtony77]

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

You won't dare sell your mining rigs if they are profitable I believe so only you know what's better for you and judging from the market sentimental right now it's still very bullish, I would only consider crypto mining if I can afford the best miners or if I have access to free electricity, investing and holding is better choice right now

[heztida3]

I think that's a good choice. Because everyone has the right to make their own choices.and that is a decent advance to get more cash-flow from this bull run season.

[konflikkastil]

In my humble opinion, I think you have made the right choice now. Investiting in these altcoins is a very good move. I considered it smart move. Instead of leaving your money is a place that won't yield much profit. I will also advise you to be watching these altcoins closely, because anything can happen at anytime. To be sure you are not going to lose all you money or having it reduced to something smaller than what you have invested. I'm sure you are very familiar with the rig mining Investment very, it's season will soon come, so you can take the advantage and invest back in it. It is always good to work smart.

[lebregone]

As long as your mining rigs are not giving you a good amount of profit already then selling it will be a wise move but I am not so sure if other miners will do the same not unless if they have obsolete setups.

The movement of the market right now is pretty interesting and you have made a good decision in buying the top currencies are they are the safest option to store your money while waiting for your target profit before selling your assets. There is a big possibility that we can see a new ATH to most of the popular currencies maybe by next year if this movement will continue and there are no big decrease of crypto prices.

[articlecity]

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

That is something i suggested to my friends quite sometime ago, mining has just become outdated especially after eth 2.0 there is no real use of mining unless we get some highly efficient miners with low energy requirements and higher yields which are not available as of yet so it is better to hold top coins than to mine as profits will be much higher.

[SektorPiii]

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 agree with you, this is the best choice for you at the moment. You need to always monitor the situation, if I understand correctly, now your manners are not profitable, in this case you are doing everything right. After the growth of altcoins is over, you may well be able to return to mining, using the profit received.

[sayaya17]

If sustaining mining for now is less profitable anymore or with a bad ROI, indeed we should move on to other more promising investments.
And I’m going to do the same thing you did. For now mining is less profitable, especially if the cost of electricity in a country is very expensive.
I would agree with your idea of diverting investment to altcoin trading or investment. The coins you mentioned have good potential.
These are coins popular among other altcoins. Your choice is right, I think.

[StephenJH]

Of course, you have made the right choice but nailing it will take time. The alt season will be in the near months if the BTC price can touch $21000 and stay above the green zone. The traders have to take care of risky trading decisions, especially in the bull market because a single short can stay underwater if the bulls continue to buy more BTC. Being on the wrong side of the trend is suicide because the trend is the best friend of any trader. Nothing can change the market cycles but we can change ourselves as a trader for learning from our past mistakes. So don't repeat the same mistakes we did on the last bull market in 2017.

[odukoyaewatomi27]

I imagine that is a good decision. For what I think right presently it's smarter to exploit on the altcoins season than rig mining. Well I didn't expect that the altcoin bull run will be this brisk I was trusting that it would proceed particularly the XRP

[kayvie]

You made the right choice if you think that you will not regret this action in the future. If you are thinking of getting along in the wave of altcoin season, then there is no question about that since everyone wants to be profitable with the altcoin season. However, have you considered your rigs can be used in long term? Because this altcoin season will not happen all the time, you might consider going back to mining in this case.

[FinneysTrueVision]

There is too much competition right now that it might not be worth it anymore for miners with a small hashrate. If you do not have the newest equipment then you will quickly be priced out. Cashing out and buying altcoins seems like a smart move. I'm not much of an altcoin trader but I can't disagree if you think this is the correct choice since all cryptos are benefitting from the bull market.

[Kocret02]

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 think it's a good choice of yours, as this may seem very stupid to people. But in my opinion mining is just a waste of money because mining is no longer like last season, where the profit was big. but the profit is small and the costs incurred are large.

[maximumcoin]

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 think this is a wise decision at right now because there are some Altcoins may multiple 2,3x just after a few days and I think this is just a beginning of Altcoin season. There will be a lot of chances if you focus research and invest right now.

[carriebee]

If I have mining rig, I will do as you do. If you remember about 3 days ago, all coins are dump and if you buy it at that time, you already earn so many profits. Do solo mining is hard, not only hard to choose coin but also is hard about the electric cost. I support your decision and I don't say that is a stupid move but people must smart to take advantage of the circumstances

The best choice he made switching into investing in altcoins. We do have a lot of options on how we can grow our money that will earn a profit. Investing in altcoins only on those legitimate projects. A mining rig is not also profitable because of the high cost of electricity so we should do a nice move investing in crypto.

[Aldrinx00]

That's a great choice because if it's not profitable for you to mine anymore why continue right? Altcoin season is on its way and you will surely get huge profit from your wise decision.

[Festac]

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

If altcoin season just disappear right now will you go back to mining again? I don't think it's a smart move mate, you should have sold some part of your rigs and leave the rest, everything in crypto space is seasonal, few months ago mining was so profitable that miners are making huge money with Ethereum because of high gas fee

[hannahB4]

You have made the right choice because we must roll together with the market, it is for the altcoin now and later the mining will come along. Let enjoy the pump while it last and make positive use of it