I quit alt mining

[malekbaba]

I’ve long said that the most profitable coins I ever mined were the coins I mined when it was unprofitable to do so.

Mining to sell immediately and make a few cents is a fool’s errand. Big money is made from mining when nobody else wants to and then holding until you have been compensated adequately for your effort.

I did the same thing. I've even forgotten about those coins; if I'd sold them back then, I probably could have made a few thousand dollars. Now those coins are probably worth a few hundred dollars.
So you need to be lucky or a good analyst to make a profit.

Well, I was talking about Bitcoin and typically any coins I mine are exchanged and held in Bitcoin.  Altcoins aren't something you should ever be holding long term, especially if they aren't earning interest from being staked or providing liquidity.  They are playthings that let you mine from home and get some free heat.  There is only one Bitcoin.  Don't get caught up thinking you are mining the next BTC and the risk is pretty minimal, especially if you need the heat.

True most of the time. But I had good Luck with some tokens/coins. And like you, I started mining from very beginning and used to sale them instantly on first day of trading. But  I found some good tokens/coins with good fundamentals and fortunately I was able to hold some of them for few days or months. But I stopped mining from 2021 and still miss those days. But most mining people actually do not know what to mine, how long they have to hold, when to sale. Mining is interesting and it is high tech matter

[FP91G]

I’ve long said that the most profitable coins I ever mined were the coins I mined when it was unprofitable to do so.

Mining to sell immediately and make a few cents is a fool’s errand. Big money is made from mining when nobody else wants to and then holding until you have been compensated adequately for your effort.

I did the same thing. I've even forgotten about those coins; if I'd sold them back then, I probably could have made a few thousand dollars. Now those coins are probably worth a few hundred dollars.
So you need to be lucky or a good analyst to make a profit.

Well, I was talking about Bitcoin and typically any coins I mine are exchanged and held in Bitcoin.  Altcoins aren't something you should ever be holding long term, especially if they aren't earning interest from being staked or providing liquidity.  They are playthings that let you mine from home and get some free heat.  There is only one Bitcoin.  Don't get caught up thinking you are mining the next BTC and the risk is pretty minimal, especially if you need the heat.

My ASIC mining payback period is approximately 25 months, assuming I maintain the equipment myself. I've calculated electricity costs and annual tariff increases, internet, and transportation costs, as mining in the city isn't profitable for me and it's impossible due to noise.
Under certain conditions, mining can be profitable, but many other factors must be met.

[OgNasty]

I’ve long said that the most profitable coins I ever mined were the coins I mined when it was unprofitable to do so.

Mining to sell immediately and make a few cents is a fool’s errand. Big money is made from mining when nobody else wants to and then holding until you have been compensated adequately for your effort.

I did the same thing. I've even forgotten about those coins; if I'd sold them back then, I probably could have made a few thousand dollars. Now those coins are probably worth a few hundred dollars.
So you need to be lucky or a good analyst to make a profit.

Well, I was talking about Bitcoin and typically any coins I mine are exchanged and held in Bitcoin.  Altcoins aren't something you should ever be holding long term, especially if they aren't earning interest from being staked or providing liquidity.  They are playthings that let you mine from home and get some free heat.  There is only one Bitcoin.  Don't get caught up thinking you are mining the next BTC and the risk is pretty minimal, especially if you need the heat.

My ASIC mining payback period is approximately 25 months, assuming I maintain the equipment myself. I've calculated electricity costs and annual tariff increases, internet, and transportation costs, as mining in the city isn't profitable for me and it's impossible due to noise.
Under certain conditions, mining can be profitable, but many other factors must be met.

Mining profitably sounds like picking up pennies in front of a steamroller. There’s no way you make big money like that. Mining is great as a hands off approach to dollar cost averaging. Trying to squeeze a few cents profit daily is bad for everyone involved.

[Abiky]

Well, I was talking about Bitcoin and typically any coins I mine are exchanged and held in Bitcoin.  Altcoins aren't something you should ever be holding long term, especially if they aren't earning interest from being staked or providing liquidity.  They are playthings that let you mine from home and get some free heat.  There is only one Bitcoin.  Don't get caught up thinking you are mining the next BTC and the risk is pretty minimal, especially if you need the heat.

Not even oldies like Litecoin and Monero? Because not all altcoins are a "bust". New altcoins are the ones usually driven by hype, often becoming huge failures due to the lack of real use cases. While alt mining is not a good as the old days, it's still possible to mine at home. GPU and CPU-based PoW cryptocurrencies are good in this regard. You can mine Ethereum Classic (ETC) and Kaspa (KAS) with ease.

For bigger earnings, PoS would be your best bet. Although, I admit that PoS's biggest flaw is its centralized design. Considering that the number of PoW-based altcoins are decreasing each day, we may live in a world where BTC remains the sole PoW cryptocurrency. I'm fine with that as long as decentralization wins in the long run.

[FP91G]

I’ve long said that the most profitable coins I ever mined were the coins I mined when it was unprofitable to do so.

Mining to sell immediately and make a few cents is a fool’s errand. Big money is made from mining when nobody else wants to and then holding until you have been compensated adequately for your effort.

I did the same thing. I've even forgotten about those coins; if I'd sold them back then, I probably could have made a few thousand dollars. Now those coins are probably worth a few hundred dollars.
So you need to be lucky or a good analyst to make a profit.

Well, I was talking about Bitcoin and typically any coins I mine are exchanged and held in Bitcoin.  Altcoins aren't something you should ever be holding long term, especially if they aren't earning interest from being staked or providing liquidity.  They are playthings that let you mine from home and get some free heat.  There is only one Bitcoin.  Don't get caught up thinking you are mining the next BTC and the risk is pretty minimal, especially if you need the heat.

My ASIC mining payback period is approximately 25 months, assuming I maintain the equipment myself. I've calculated electricity costs and annual tariff increases, internet, and transportation costs, as mining in the city isn't profitable for me and it's impossible due to noise.
Under certain conditions, mining can be profitable, but many other factors must be met.

Mining profitably sounds like picking up pennies in front of a steamroller. There’s no way you make big money like that. Mining is great as a hands off approach to dollar cost averaging. Trying to squeeze a few cents profit daily is bad for everyone involved.

Mining is profitable if electricity prices are low and mining companies make good profits. I'm writing about home mining, where my electricity rates are regulated by the government and I can't consume much electricity. If electricity is cheap, there are options with a return on investment within a year, but in most cases, this is already illegal

[KovaBTC]

I quit alt mining, its official that mining is dead, I sold all my GPUs and use the money to buy some Bitcoin, now I am going back to running a business, something I should have done a very long time ago but instead I choose to be a full time crypto miner and also a content creator on YouTube, I was lucky that I started creating content if not? My situation would be ten times worser right now.

What about you?

i dont think mining is dead but home mining mostly is. the only model that still makes sense to me is hosting. you keep exposure to mining without the noise, maintenance or inflated power costs. it turns mining back into a business instead of a daily struggle

[KovaBTC]

I’ve long said that the most profitable coins I ever mined were the coins I mined when it was unprofitable to do so.

Mining to sell immediately and make a few cents is a fool’s errand. Big money is made from mining when nobody else wants to and then holding until you have been compensated adequately for your effort.

I did the same thing. I've even forgotten about those coins; if I'd sold them back then, I probably could have made a few thousand dollars. Now those coins are probably worth a few hundred dollars.
So you need to be lucky or a good analyst to make a profit.

Well, I was talking about Bitcoin and typically any coins I mine are exchanged and held in Bitcoin.  Altcoins aren't something you should ever be holding long term, especially if they aren't earning interest from being staked or providing liquidity.  They are playthings that let you mine from home and get some free heat.  There is only one Bitcoin.  Don't get caught up thinking you are mining the next BTC and the risk is pretty minimal, especially if you need the heat.

True most of the time. But I had good Luck with some tokens/coins. And like you, I started mining from very beginning and used to sale them instantly on first day of trading. But  I found some good tokens/coins with good fundamentals and fortunately I was able to hold some of them for few days or months. But I stopped mining from 2021 and still miss those days. But most mining people actually do not know what to mine, how long they have to hold, when to sale. Mining is interesting and it is high tech matter

that's a rough lesson and you're not alone. bitcoin is transparent by design so once someone knows your address they can see numbers without understanding your real situation like debts or obligation

you didnt do anything wrong it just shows why separation and privacy matter. using exchanges, separate wallets, or structured setups helps avoid personal issues

[FP91G]

that's a rough lesson and you're not alone. bitcoin is transparent by design so once someone knows your address they can see numbers without understanding your real situation like debts or obligation

you didnt do anything wrong it just shows why separation and privacy matter. using exchanges, separate wallets, or structured setups helps avoid personal issues

Miners typically don't use wallets on centralized exchanges. While this was previously acceptable, now even some exchanges prohibit it under threat of blocking.
There are many methods, such as mixers, that allow you to hide your coins.

[malekbaba]

that's a rough lesson and you're not alone. bitcoin is transparent by design so once someone knows your address they can see numbers without understanding your real situation like debts or obligation

you didnt do anything wrong it just shows why separation and privacy matter. using exchanges, separate wallets, or structured setups helps avoid personal issues

Miners typically don't use wallets on centralized exchanges. While this was previously acceptable, now even some exchanges prohibit it under threat of blocking.
There are many methods, such as mixers, that allow you to hide your coins.

Sometimes cex has minimum threshold to deposit certain tokens/coins. And it is not wise to hold crypto in cexs. If you want to take full control of your coin, use hardware wallet or decentralized wallet. Not your keys, not your token, mate.
Plus wallet gives opportunity to stake, cex wallet will not give you any staking facility

[FP91G]

that's a rough lesson and you're not alone. bitcoin is transparent by design so once someone knows your address they can see numbers without understanding your real situation like debts or obligation

you didnt do anything wrong it just shows why separation and privacy matter. using exchanges, separate wallets, or structured setups helps avoid personal issues

Miners typically don't use wallets on centralized exchanges. While this was previously acceptable, now even some exchanges prohibit it under threat of blocking.
There are many methods, such as mixers, that allow you to hide your coins.

Sometimes cex has minimum threshold to deposit certain tokens/coins. And it is not wise to hold crypto in cexs. If you want to take full control of your coin, use hardware wallet or decentralized wallet. Not your keys, not your token, mate.
Plus wallet gives opportunity to stake, cex wallet will not give you any staking facility

On a mining pool, you can adjust your payout amount to meet exchange requirements.
An exchange wallet is sometimes useful if the coin's price drops and you need to sell your coins immediately. For some shitcoins, it's easier to use exchange wallets to sell and withdraw them immediately. However, these exchanges also tend to cheat miners by setting high withdrawal fees. Everything depends on the market situation.

[OgNasty]

I just solo mined another Ravencoin block. Feels great mining blocks again and keeping me warm is a nice bonus. If only they made miners that kicked off cold air in the summertime…

[FP91G]

I just solo mined another Ravencoin block. Feels great mining blocks again and keeping me warm is a nice bonus. If only they made miners that kicked off cold air in the summertime…

You can use the same solution used in the cheapest air conditioners. To do this, you need to direct air into a box of ice, and you'll have an air conditioner. The only problem is that you'll need to add new ice frequently, but you'll get cold air