Mining Bitcoin and Converting into either Litecoin or Sui 4 when markets rebound

[Loshi]

Which Alt Should I convert my mined bitcoin into? Litecoin due to it being scarce like BTC or Sui with a risk on for a higher return if it head's to $8-$10 Per token?

-LoshiBTC

[TastyChillySauce00]

So you mined gold equivalent which is bitcoin and want to convert it into altcoin that is equivalent to pump and dump penny stock? Try to take your time to rethink the decision. I think you better off holding bitcoin than any of these two.
But if you insist i would choose Sui because it's already pretty cheap and has 2x of Litecoin's trading volume. DYOR.

[CONVOAI]

Which Alt Should I convert my mined bitcoin into? Litecoin due to it being scarce like BTC or Sui with a risk on for a higher return if it head's to $8-$10 Per token?
-LoshiBTC

It would be wise to hold Bitcoin by mining Bitcoin because Bitcoin has good long-term strength. This long-term strength should not be missed. Also, you can do one more thing. You can keep 70-80% of your Bitcoin and the remaining 20-30% in other alt coins like SUI. Then your risk will be reduced, and you will also have the hope of a higher return.

[noorman0]

Why convert? Is your ROI negative, like poll option 3? Mined BTC isn't free money; you have to cover energy and maintenance costs. Then, if you're drawn to an asset whose quality isn't better than the one you hold, it's like gambling.

The majority of miners I know don't convert their Bitcoin to riskier assets. What you need to remember is that if this cycle is truly over, the altcoins you're eyeing has failed to outperform Bitcoin. There's no alt-session this time, this should be your primary consideration.

[shinratensei_]

How about mining other coin like XMR maybe if you used GPU and not ASIC. From your poll options I take it that you're not profitable in your mining. Maybe if you mined using CPU or GPU you can switch to mining XMR with current profitability ratio per day at around 500%.
If you can't. I'd just keep mining bitcoin for the sake of getting exposure to bitcoin's price and take profit when the price is rising because bitcoin's performance from historical data has surpassed most of altcoins. Just my 2 cents.

It seems like you wanna convert to gain profit to make that additional profit but it could be a mistake from what I can see because SUI isn't as great as before, the defi is starting to run dry in tvl and liquidity while there is nothing that sticks out in the blockchain.
Litecoin on the other hand at this moment is just another meme.

[Charles-Tim]

Convert Mined Bitcoin to Litecoin
Convert mined Bitcoin to Sui
HODL and let electric drain me

What do you mean with the part that I bolded? Are you implying that if you hold bitcoin, that your electricity usage will be high? This is absolutely wrong. Having your bitcoin will not increase your electricity usage. Holding bitcoin will not demand more electricity from you than holding litcoin or SUI.

Bitcoin performed more than litcoin in this bull run. Litecoin is far from getting to all-time high.

[Taskford]

Convert Mined Bitcoin to Litecoin
Convert mined Bitcoin to Sui
HODL and let electric drain me

What do you mean with the part that I bolded? Are you implying that if you hold bitcoin, that your electricity usage will be high? This is absolutely wrong. Having your bitcoin will not increase your electricity usage. Holding bitcoin will not demand more electricity from you than holding litcoin or SUI.

Bitcoin performed more than litcoin in this bull run. Litecoin is far from getting to all-time high.

I'm also confused about that since I think HODL and his other statement don't correlate together. Maybe he's just using idiomatic expression on that sentence.

But you are 100% right that Holding Bitcoin will not provably make his electricity cost high, since this is more cost efficient investment to use especially for people can't afford to operate or buy high end mining hardwares. Also not surprising to see that happening on Bitcoin since this coin always gain lots of attention. While lite coin usually got forgotten, but who knows maybe Litecoin will also gets its momentum in future and hit its new ATH.

[Dkstx$~]

In my opinion, Litecoin offers stability and BTC-like scarcity, while SUI is a higher-risk play with stronger upside. A split approach manages both safety and growth.

[Ahli38]

Which Alt Should I convert my mined bitcoin into? Litecoin due to it being scarce like BTC or Sui with a risk on for a higher return if it head's to $8-$10 Per token?

Sui may be an attractive investment for you considering its value has fallen significantly compared to last year. Various markets that offer Sui are also quite busy for trading. However you must also be aware that Sui could continue to experience a sharp decline in price when market conditions deteriorate. It is possible that Sui's value could fall close to its all-time low as happened several years ago. So I personally advise you to understand the various risks you may encounter. I also see that the circulating supply of Sui is not yet fully in circulation. And it is possible that the price of Sui will drop dramatically after token unlock events occur. As for Litecoin it also has some of the same risks. You really need to do your own research to better understand what actions you should take.

[asriloni]

Go for Sui. These days people are not seeing scarcity to determine the future potential of a coin. They're seeking alt with lots of utilities to give them benefit when they hold it for long term. It's something that Litecoin doesn't have.

The chart is also clearly telling how SUI is just getting even stronger against Litecoin in long term. So if you're willing to bet your mined Bitcoin, then convert it to the Sui.

Sui has more utilities, institutional adoption, and better eco than Litecoin. So i think it's worth it.

[Loshi]

Convert Mined Bitcoin to Litecoin
Convert mined Bitcoin to Sui
HODL and let electric drain me

What do you mean with the part that I bolded? Are you implying that if you hold bitcoin, that your electricity usage will be high? This is absolutely wrong. Having your bitcoin will not increase your electricity usage. Holding bitcoin will not demand more electricity from you than holding litcoin or SUI.

Bitcoin performed more than litcoin in this bull run. Litecoin is far from getting to all-time high.

I'm also confused about that since I think HODL and his other statement don't correlate together. Maybe he's just using idiomatic expression on that sentence.

But you are 100% right that Holding Bitcoin will not provably make his electricity cost high, since this is more cost efficient investment to use especially for people can't afford to operate or buy high end mining hardwares. Also not surprising to see that happening on Bitcoin since this coin always gain lots of attention. While lite coin usually got forgotten, but who knows maybe Litecoin will also gets its momentum in future and hit its new ATH.

yeah just a idiot expression on the sentence I am slightly in the profit for mining bitcoin itself

[Loshi]

Go for Sui. These days people are not seeing scarcity to determine the future potential of a coin. They're seeking alt with lots of utilities to give them benefit when they hold it for long term. It's something that Litecoin doesn't have.

The chart is also clearly telling how SUI is just getting even stronger against Litecoin in long term. So if you're willing to bet your mined Bitcoin, then convert it to the Sui.

Sui has more utilities, institutional adoption, and better eco than Litecoin. So i think it's worth it.

Sui has so much potential to move on the upside within the next 2-3 year's I can see us heading above $10 Possibly and I do have a very large bag over 5K tokens and dca'ing into SUI and litecoin as well once Sui goe's 2x from the ATH and doubles from that ATH I will get little over 125K And can convert all my sui into nearly 1 full Bitcoin! BTC

[d5000]

I don't know about Litecoin, but I would strongly advise against Sui.

Sui has not only bubbled over the past year (and already lost a lot again), but it has also one of the worst tokenomics of all smart contract platforms (See also my note about their unlock schedule).

60-70% of the supply of the first year were allocated to the founders and their friends (foundation etc.)! This is much worse than Ethereum, Cardano and other competing platforms.

And it means above all one thing: there will be continuously enormous selling pressure from the founders' club.

Sui could go up again as it was hyped a lot, as some of the founders' tokens will be unlocked relatively late. But even in this case, if I had a bigger bag I would take profits in the next cycle, not later.

[YellowSwap]

If you have Bitcoin you should keep that, you are simply trying to repeat the same mistake that many people have made in the past, holding Bitcoin is better than any altcoins in general, since the beginning and till today Bitcoin has been the most performing digital currency over all.

SUI has so much potential like you said but Bitcoin is still better and will always be better than SUI, if you can't do without SUI you should invest separately in SUI later this year,  the present price is even over priced, I expect SUI to go down to $0.50 soon, this is just a prediction though as it's not certain but try and find extra money to buy SUI.

If in the end SUI failed you Bitcoin won't fail you, and that Bitcoin will be your saviour.

[finitemaz]

Choose the undervalued sound money with skyrocketing on chain metrics

https://bitcointalk.org/index.php?topic=5522245.msg66181342#msg66181342

[passwordnow]

Don't convert it. Just keep the Bitcoins and you'll thank yourself later by doing nothing after mining those. Because if you have the plan to buy altcoins, why you have to sacrifice and convert your precious Bitcoins for those? I think that's the best idea and plan that you'll have to do. To mine Bitcoin and keep it, but don't convert it to any altcoin. Instead, use your fiat or other sources of income then that's the money you'll use for buying those altcoins you think have the potential. Don't waste your resources by doing that because it'll make you regret later. If you'll have to sell some of those mined BTCs, that's okay but don't convert or sell all.

[TastyChillySauce00]

I don't know about Litecoin, but I would strongly advise against Sui.

Sui has not only bubbled over the past year (and already lost a lot again), but it has also one of the worst tokenomics of all smart contract platforms (See also my note about their unlock schedule).

60-70% of the supply of the first year were allocated to the founders and their friends (foundation etc.)! This is much worse than Ethereum, Cardano and other competing platforms.

And it means above all one thing: there will be continuously enormous selling pressure from the founders' club.

Sui could go up again as it was hyped a lot, as some of the founders' tokens will be unlocked relatively late. But even in this case, if I had a bigger bag I would take profits in the next cycle, not later.

Seeing the recent development in SUI i actually agree. This is why I don't fancy investing in altcoin at all at time like this, too centralized and our stance should be updated time to time by seeing their governance. SUI has been having decline of TVL and expected to decline more.
The tradeport NFT market place is a ghost town and so does the entire blockchain. Nobody really uses it anymore. Litecoin even if it's considered to be old altcoin, at least still got some solid fundamental with its Proof of Work.

[Shinpako09]

First of all, why would you convert your mined btc into alts? You already have the best coin. If you have a job, just use some of your salary to invest in alts. Honestly, with how the market is performing, it’s hard to tell if there will still be an altseason this year. But Sui and Litecoin aren’t that bad. If it’s just alts, sol is on top of my list. Compared to SUI and ltc, I’m more willing to take the risk on SOL

[Findingnemo]

Just to understand your strategy, you are trying to buy a coin with the hope of recovering from the market dump to have more profits right then why you convert, just keep as bitcoin. Because we all know that if the market is recovering then bitcoin is so if you are holding bitcoin at that time then you will get your returns.

[Frankolala]

Why the swap? Is it because you're already mining bitcoin and feel you have excess. I don't see this as a wise decision to sell bitcoin for litecoin because bitcoin does better in price than these altcoins you mentioned in the OP. SUI is the worst of the two because it's just another hyped coin and will gradually depreciate in price overtime. You have the best coin which is bitcoin.