Im glad i quickly learn my lesson after mining some useless coins for a while,coins like
Stellite
Kepl
Gadcoin
Parsicoin
Ultranote
And nxboost caught my eye because they are very new and still minable using even CPU like core i5 but all this coins are shitcoins now,they have no real use case and nxboost already changed to new algo which makes all the old coins i mined useless,after contacting the dev he said he cant swap my coins to the new coin.
Topic: 99% of new POW coins are waste of time (Read 175 times)
Most new coins are just experimental by the devs and they make it looks so serious like a fully ready project and when enough profits have been made from pumps they abandon the project,i mined coins with outdated setup because they cant mine higher difficulty coins like ETH but it wasnt a wise choice in the end
Pump and Dump coins are just some normal thing in this industry however you need to know when and how to dump the coins that you currently hold. I don't engage on this kind of investment because the bad consequences can be brutal and the worst case you won't recover your loss even if you wait for that current coin to pump up for how many years it won't pump again and they will just create another coin to create the hype again.
So it's better for us to stick with the current trading method If we want to have a safe investment.
So it's better for us to stick with the current trading method If we want to have a safe investment.
I see many coins saying POW, and that one can mine quickly before difficulty level increases. My thought always is: why don't they just adopt Proof-Of-Stakes POS from the beginning? I was once following a new coin which is POW, after I notice a series of pump and dump, I remove it from watch list. No different innovation.
For new coins, I think it's shit. but for old coins like LTC, BTC, ETH, XMR, DASH and others it's still good and worth mining. I think POW coins are better than coins bought from ICO / IEO. Take a look at how many coins from the ICO / IEO project which still stands at CMC's top 100.
This is right, because I am getting disappointed in new crypto currencies as well. I cannot remember of any coin that went on the market during 2019 and is at least in top 100 crypto currencies, so I switched to main cryptos like ETH, LTC, BCH as well.
If that's their strategy and gambling with those coins and start mining them with a hope that they might be a good value in the right time.
I've seen folks who have been doing this and it's up to them on how long they can sustain it until they see the value of the altcoin they've mine rise.
They are pushing their luck with those coins and it's their energy to waste not ours.
I've seen folks who have been doing this and it's up to them on how long they can sustain it until they see the value of the altcoin they've mine rise.
They are pushing their luck with those coins and it's their energy to waste not ours.
More like 99% of all cryptocurrency are a waste of time. Most of the time, it's just a copy of another altcoin hoping to get some donations for the project and for a pump. That's the reason why I seldom look into ANN anymore because of how garbage this coins has become lately. I just look for a new coins that is at least 1 year old and a proper community and exchange because this type of altcoin has a chance.
Absolute true,all the coins i mined years ago are mostly abandoned by the devs and some are already swapped to new algorithm and new dev take them over,its good to mine coins that you can sell off at anytime,new coins are more dangerous than old coins,i wasted lots of time on them in the past and i came out with nothing
Ah, that's right and that's why i have stopped to mine crap coin and just try to put all of my rig to the great one. I thought you should stop to follow that idea to mine shitcoin because the majority of them are never listed in exchange site.
We pay electricity, rig, and maintenance cost and that's a joke if we are getting nothing from there.
I mine grin and raven and so far a little money is much better when all of the operating cost already covered.
We pay electricity, rig, and maintenance cost and that's a joke if we are getting nothing from there.
I mine grin and raven and so far a little money is much better when all of the operating cost already covered.
Just because mining coins nowadays arent profitable anymore some people are mining new crypto coins that got released in a month or two month ago so as to get many quantities before difficulty rise up well here is what happend to me when i did this
1. Many new coins are pump and dump or shitcoins,i mined over 30 different on this coins,mostly cryptonight based algorithm but in time 90% of them are abandoned.
2. Most of the new coins are just taken as experiment for the dev,playing with the project to learn how things works and once he gets tired of it he moves on
3. New coins mostly have no teams,its just a one man business and sooner or later you might get a notification that a new dev is going to take over.
4. Almost all new minable coins wont get to exchange like forever,im still holding some useless coins that havent get listed on any exchanges till date,probably its been abandoned .
Wise up and start mining coins that are already trading on more than one exchanges and have real teams too or you might end up wasting your time.
1. Many new coins are pump and dump or shitcoins,i mined over 30 different on this coins,mostly cryptonight based algorithm but in time 90% of them are abandoned.
2. Most of the new coins are just taken as experiment for the dev,playing with the project to learn how things works and once he gets tired of it he moves on
3. New coins mostly have no teams,its just a one man business and sooner or later you might get a notification that a new dev is going to take over.
4. Almost all new minable coins wont get to exchange like forever,im still holding some useless coins that havent get listed on any exchanges till date,probably its been abandoned .
Wise up and start mining coins that are already trading on more than one exchanges and have real teams too or you might end up wasting your time.
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