I DONT UNDERSTAND WHY NEWBIES KEEP ASKING THE SAME QUESTIONS !MUST TO READ !

[xxcsu]

Posted this topic almost 3.5 years ago... There is the brand new, 2021 updated version

There is the Original Link for my topic from 2017 HERE

The same thing happening now what happened in (2016) 2017, ppl got crazy about mining, investing money into GPU's, ASIC's, hoping a big profit in a short time, GPU's, ASIC's price are crazy high, but really no one know what's coming in the future.

Lot of us know what happened in 2018, some of us was able to make a great profit with mining ( mostly those guys who started mining before crazy GPU prices ), and some of the unlucky ones come back to this forum and cried for they Money, said just bad things about mining ( mostly those guys who paid 3x, 4x, 5x price over a RX480/580 MSRP ( manufacturer's suggested retail price ).

Before you jumping into mining please do your own research, especially about ETH mining, check the roadmap for ETH development, make sure you know more than what mining calculators telling you. Learn about ETH2 , EIP 1559 , Mining Reward Reduction ... and if you are living in  the USA , make sure you know what this IRS letters are about : Letter 6163 , 6174 and 6174-A also ... Its a good thing to know about Tax Consequences
The big brother is watching you, and not just in the USA.

HAPPY MINING to all of you and good luck with your new adventure

Be Aware ! Scammers are Targeting You! Hackers are targeting You! You can be a victim of a phishing website !  Watch out !
Make sure You Buying gears from legit source ! Downloading program from legit source ! Make sure you have a hardware wallet !

Im sure we going to see a lot of "crying " ppl here as soon as Price going up , scammers , hackers getting into actions , and most of the victims going to be some of our community new members , our "Newbies"

Watch out for newbies who promising "save on dev fee" kind of miner programs hacks , and you just need to download a file to your computer , then run the .exe file ...
IF NO SOURCE CODE , NOT OPEN SOURCE PROJECT,  FORGET ABOPUT THOSE JUNKS
NEVER RUN ANY .EXE FILE ,OR IF YOU DO USE WIRESHARK OR SOMETHING SIMILLAR TO ANALYZE what your freshly installed junk doing on your network .

if you running something like this on a pc , where you keep important information about your wallet , don't be surprised if all of your hard mined coin going to disappear .
...or your valid shares decline , bc your miner going to mine for somebody else !

Coin price up its mean scammers targeting miners, especially newbies with a promise to save on dev fee .

Dont be fooled when newbie account holder creating a .exe file , promising you can save lets say on dev fee, and another newbie keep saying how perfect is that new .exe file, what another newbie just created !
Dont be fooled when the creator make his source code public, its can be totally fake , you need to Decompiling the code , and see whats in the .exe file ! or compile the file yourself from the source code , if you want to stay on the safe side !

I DONT UNDERSTAND WHY NEWBIES KEEP ASKING THE SAME QUESTIONS " ITS TO LATE TO START MINING , IT IS STILL PROFITABLE ? WHY MY EARNING IS LESS THAN ALL THOSE ONLINE CALCULATORS TELLING ME? WHAT IS THE BEST COIN TO MINE ? WHAT IS THE MOST PROFITABLE COIN TO MINE"

No one can tell you !
Always going to be a 2 group of ppl who telling you it's ok go for it , or don't bc you just wasting your money and time !
You have to make a decision for yourself !
Do your own research !
No one can tell you for sure what's going to happen with cryptocurrency !
No one can tell you it's going to be profitable for you or not !
No one can tell you how much profit you going to be able to make ! ( if you can make any at all )
No one can tell you the ROI ( return of investment) time !
No one can tell you what is the best coin to mine !
No one can tell you what is the most profitable coin to mine! Coins profitability always changing, what is best to mine today, maybe going to be the worst to mine tomorrow !
None of those calculators you are seeing on the web can tell you what's coming tomorrow , months later or 6 months later !
Those calculators telling you about today , at that moment when you typing in your information !
None of those online calculators calculating pool luck !
None of those online calculators calculating your stale/rejected or invalid shares !
None of those online calculators able to predict difficulty growth !
None of those online calculators can predict what would be the coin/$ exchanges rates a minutes later, a hour later,  tomorrow, next week,  months later, 6 months later or a year later !
It's little bit of gambling , you must to decide you want to play on the lottery or not  
YES some of us got lucky , made some money with mining
YES some of us got unlucky , lost some money , bc when price started to fall , sold they coins , miners...

! INVEST ONLY WHAT YOU'RE WILLING AND ABLE TO LOSE !
! INVEST WITH THE UNDERSTANDING , THAT YOU COULD LOSE EVERYTHING !

[adaseb]

Lol, I actually remember when you created that thread back in 2017. I am actually glad you started it because I was tired of seeing the same posts over and over again. I knew that this time it was going to be the same situation when I keep seeing new threads asking "How can I mine Bitcoins on my Macbook Air?".

Its funny because most of what you discussed is pretty much relevant today. Nobody knows what the future holds. Will ETH break $2K, will it go to $3K or did it peak yesterday? Will BTC go to $100K or did it just peak at $50K. Lots of unknowns.

[lulucorn]

Very well said. Couldn't have said better.

Unfortunately, this won't be read by most newbies because they don't know how to read. If they did then they wouldn't be asking same basic question over and over and over when they could Google in 30 second and get the answer.

It really boggles my mind how newbies are spending thousands and thousands of dollar setting up rigs yet they do not understand even some BASIC concept. Don't get me wrong, everyone has to start from the bottom but they should at least learn basic concept such as profitability (luck, block reward,pool type,global hashrate,etc).

[JayDDee]

They get in over their head then need to be walked through everything.

The latest trend seems to be trying to do funky things to power GPUs. One recent question was just too weird
for anyone to reply to.

[Ken_terrance]

I have no time for thinking about any future possibilities, risk is risk whether it favours or not, I invested in mining rigs and I'm glad I did, even if bear season starts I will still keep mining and I won't feel bad about it, taking a step and losing in return is a thing at least but not doing anything at all is worst

[nsummy]

They get in over their head then need to be walked through everything.

The latest trend seems to be trying to do funky things to power GPUs. One recent question was just too weird
for anyone to reply to.

I don't mind helping people with weird problems they are having with hardware they already own.  What really grinds my gears though are the stupid questions like "I have $10,000 (or some other ridiculous amount), what should I buy?" 

[Vann]

Looks like it's time to dust off the old rigs seeing what those old RX 580's bring on ETH. So much opportunities lost. Nothing ventured, nothing gained as they say. Good luck to everyone we'll probably need it 

[xxcsu]

Looks like it's time to dust off the old rigs seeing what those old RX 580's bring on ETH. So much opportunities lost. Nothing ventured, nothing gained as they say. Good luck to everyone we'll probably need it  

All of my old RX 580's and RX480's are still in "business" , they never stopped from the time I built them.
And yes those old cards still earning some decent amount of $
"ROI" pretty much happened years ago
Even my very first "Big Build" what i documented here on bitcointalk, is still in "business"

[PerfectCircle]

Newbies will keep asking the same questions over and over because we will always have newcomers in crypto space, those newbies that asked questions today won't be the same newbies that will ask questions tomorrow, newbies are newbies but they aren't the same people, if we can't guide them right aren't we worse than they are?

[xxcsu]

Newbies will keep asking the same questions over and over because we will always have newcomers in crypto space, those newbies that asked questions today won't be the same newbies that will ask questions tomorrow, newbies are newbies but they aren't the same people, if we can't guide them right aren't we worse than they are?

THEN HELP HIM PLEASE :

What would be a real plan to earn money off of cryptocurrencies? Help plz

HELPING TO SOMEONE IS ONE THING, BUT DOING EVERYTHING For SOMEONE IS ANOTHER.
At least before newbies asking question, they should have some very basic knowledge about crypto mining, or learn to use the search function on this forum, or in any search engine .

PPL get crazy now when they hear "crypto or bitcoin " , but the only thing they can associate is getting lot of money in a short period of time. Then they investing into VGA crads , or ASIC , paying a crazy price , and after they getting some info about how mining works , what is difficulty, how many things affecting mining income, they coming back to this forum and crying for they money ... The greatest example 2018
half of them not even know what they paying for electricity, they have a fixed rate,  or is changing with usage, how much different they have between summer rate / winter rate , ... we ( I ) cant help them .
If they asking a question on the right way , yes we can help them . But please at least learn to use the search function :0

[Temido2222]

Let the ones that want to learn come and learn. Let the arrogant, stupid ones that buy in over MSRP and lose it all fail. Let them fail

[jbillk]

Newbs are good for the seasoned miner. They are the ones buying our old GPUs at 3X the price. They think that an rx480 will keep making $5/day for years, but they never mined during the crypto winter, getting by on $0.25/day.

The best time to be mining is when nobody is making any money.

[xxcsu]

one more reason to read my original post ...    someone paid a big price ...

The company is really a BIG SCAM
The company is really a big scam
I found out about this website through linzhi.io
for several days they had on their website the link of linzhi.cn.com
saying that that site was their store, the strange thing is that above they had an email from sales @linzhi.io
A few days later they no longer had the link to linzhi.cn.com on their supposed official website, they removed it and now they say Store: Coming soon

In my opinion, it is the same official company linzhi.io or some employee who is behind these waves of scams, it is likely that they did not have money to start mass production and in this way they have opted for fast and free Financing without having to return it

I lost 23k and now they send emails to encourage us to buy more machines but the machines do not exist, they will never arrive
they never send tracking number
They do not respond to any email or social network, they are on Telegran and they only say now that they have nothing created and to be careful with scams
But the scammers are themselves, the funny thing is that they respond here saying that we give tracking number or order, but they do not deliver anything after payment, there are no order number or tracking number because it is a scam, there are no machines

If one day the product comes out, hopefully they will give us a discount to the funders or scammed by them

[JayDDee]

Then there are the snowflakes that present plans for their first mining rig with great pride asking
if the've made a good choice after they had already bought all the stuff. Then they get upset and
feel offended by anyone doesn't agree with them.

[fmz89]

heheh noobs question all over again from this forum founded until the end and there always like that, dont be to hard on them, they just entering the jungle

need guidiance and most of them try by itself only minority asking typical question 

[xxcsu]

heheh noobs question all over again from this forum founded until the end and there always like that, dont be to hard on them, they just entering the jungle
need guidiance and most of them try by itself only minority asking typical question  

Just Trying to save all of them from trouble