I enjoyed mining new coins in 2018, 70% of the new coins I mined ends very well but I sold real too quick, I mined coins like Havven and Leviar which are cryptonote Algorithm coins and I mined few bad coins, OP shouldn't blame himself too much, he just mined the bad coins
Since there are some people like you that were able to get profits out of their time mining new coins and for the most part the only decision you need to take as a miner is which coin to choose to mine then all the responsibility lies with you when you fail to make profits, after all you cannot really blame anyone else since no one forces people to mine coins and they do it believing that down the road they will obtain some profits as such it is better to own our mistakes so we can improve upon them in the future. 
Topic: Back then and Now, lesson learnt - page 2. (Read 912 times)
the reason why people fall prey for minning coins is because of easy access and projects usually use it to get more people engaged as its free. majority of the newbies dont know that the real profitable mining comes with real investment while the regular mining with computer takes longer time to bring anything reasonable.
You got it wrong, you're making mining sounds like a trap, new coins have less difficulty rate, ethereum was once so easy to mine, OP chooses wrong coins, I can name few new altcoins in 2018 to 2019 that still have good value till date like Havven, Loki, dero, electroneum and many more, if you can mine them very early you will have many quantities of the coin Well, that would be the best option before but taking into account that the trend is changing and we really know the harsh situation, how was impossible to generate income with that. No nothing.
I don't know if some newbies are still doing this today, if you are you'd better stop right now. Many new coins can be easily mined through a single CPU or GPU but 90% of them are trash coins, you need to understand how important use cases are.
In the old days, three to four years back I was so obsessed with new coins simply because they are easy to acquire, mining them is easy and difficulty are low, this got me blind so I started mining coins without getting into good research first, I ended up with coins like
1. MarketCash
2. NiobioCash
3. Worktips
4. Spotme
5. Gadcoin
And so on.....
These coins are all dead or useless right now, few are trading back then but I was too dump to sell and buy better coins.
Today I asked myself why did I do that back then, I guess it's because I never knew the difference of high quality projects and why some coins make it to top 100, If you are reading this make this your targets
The importance of real use case
In the old days, three to four years back I was so obsessed with new coins simply because they are easy to acquire, mining them is easy and difficulty are low, this got me blind so I started mining coins without getting into good research first, I ended up with coins like
1. MarketCash
2. NiobioCash
3. Worktips
4. Spotme
5. Gadcoin
And so on.....
These coins are all dead or useless right now, few are trading back then but I was too dump to sell and buy better coins.
Today I asked myself why did I do that back then, I guess it's because I never knew the difference of high quality projects and why some coins make it to top 100, If you are reading this make this your targets
The importance of real use case
Well, it seems like you have done that years before and maybe you were just a newbie way back then. Then, what you have done was just a normal initiative for a newbie that wanted to explore the whole cryptocurrency world. Many are doing mining those coins that are really easy to acquire thinking that earning lots of coins can make them have a lot of capabilities to earn more income by doing such thing. That is when the hype of projects are still which might be on year 2017 to 2018. Well, having such an experience is just fine because we do learn from every single thing we have in the past and apply it into the current situation we have. At least you have learned the importance of every coin you were earning and lead you to conclusion that not because it is easy to be mined, income will be easy to come. This will just really come into realization of what you have done before might be right or wrong but then at least whatever it is, you have learn already what is the best thing to do. There is always a lesson for every single thing we do because what we experience can be something to be treasured.
the reason why people fall prey for minning coins is because of easy access and projects usually use it to get more people engaged as its free. majority of the newbies dont know that the real profitable mining comes with real investment while the regular mining with computer takes longer time to bring anything reasonable.
You got it wrong, you're making mining sounds like a trap, new coins have less difficulty rate, ethereum was once so easy to mine, OP chooses wrong coins, I can name few new altcoins in 2018 to 2019 that still have good value till date like Havven, Loki, dero, electroneum and many more, if you can mine them very early you will have many quantities of the coin
Have learnt different lessons in this cryptocurrency space back then with just airdrop you can earn good cash before I totally move to Bounty. you hodl altcoins and make profit but my lessons throughout 2019 really shows holding is a pretty scam.. Many of the project I work for later exit scam..
So many people are still gathering such coins now all in the name of raindrop or faucet. Many of them believed that when bull run come they can make their millions just because they are holding these coins in millions, but I bet you, those coins will die without a trace.
Faucets can't get one rich no matter how hard they try, it's better to avoid new minable coins unless you really see a project with good potential like how I spotted electroneum in 2017, etn team already abandoned cryptonight Algorithm so you can't mine it anymore, take your time to do research on projects before anything
I have also wasted my time on bad projects. Although it is time for bitcoin to be in the uptrend season, there are still many scam projects or failures. Since then, I have learned that lesson is to take the time to learn about the market and how to evaluate a project. Your time and effort will never be a waste if you try to find a good project. Most of the bounty hunters here rarely check projects, they only participate in projects with reputable bounty managers without knowing the project. Don't be like the crowd, working hard will help us be more productive and make more money.
I enjoyed mining new coins in 2018, 70% of the new coins I mined ends very well but I sold real too quick, I mined coins like Havven and Leviar which are cryptonote Algorithm coins and I mined few bad coins, OP shouldn't blame himself too much, he just mined the bad coins
the reason why people fall prey for minning coins is because of easy access and projects usually use it to get more people engaged as its free. majority of the newbies dont know that the real profitable mining comes with real investment while the regular mining with computer takes longer time to bring anything reasonable.
You got it wrong, you're making mining sounds like a trap, new coins have less difficulty rate, ethereum was once so easy to mine, OP chooses wrong coins, I can name few new altcoins in 2018 to 2019 that still have good value till date like Havven, Loki, dero, electroneum and many more, if you can mine them very early you will have many quantities of the coin
A popular minable coin will only go on with low difficulty for just days or week, if you don't join in time the difficulty rate will become so higher this making your result to be low, be careful with low difficulty coins, the reason why they are easy to mine still is because the project is not good, I remember in 2017 when electroneum came around the Mining difficulty surged up in just few days
The OP paid a price in exchange for experience. I don't think there's any veteran member here who didn't make a silly investment mistake too as a newbie. We all did. And that's the badge of honour we got in exchange for the experience we share today. So, it's left for the newbies to borrow a leaf from that or go ahead and make their own mistakes themselves. It's the same way you won't catch me dead playing faucets.
On OP's last line, the use-case or utility of a project is what informs my judgment this day going into any crypto investment. Any project without a use-case won't get my attention, no matter what hype it attracts.
There is a popular quote and for sure you heard about it and it is "learn from the mistakes of the others". We can avoid a lot of mistakes if we will try to listen to other people's experienced and mistakes. Of course it is a waste of time if we are going to not listen to them and to make the some mistakes that they did. For those people who will make investment, make sure you know what you are doing and be aware on the risks that you are taking. On OP's last line, the use-case or utility of a project is what informs my judgment this day going into any crypto investment. Any project without a use-case won't get my attention, no matter what hype it attracts.
I assume low risk low return or even no return at all, these coins which can be easily mined also means that the coin has no miner and not so popular, that's why they are really easy to obtain but if it's gonna be useless at the end i will prefer not to mine at all.
in the past there are many new coin making innovation and one of them could be mined from a smartphone but turns out the project is dead.
in the past there are many new coin making innovation and one of them could be mined from a smartphone but turns out the project is dead.
Today I asked myself why did I do that back then, I guess it's because I never knew the difference of high quality projects and why some coins make it to top 100, If you are reading this make this your targets
If you look into our usual life, there are similar lessons we can find out. I mean everything we must do only after finding out the reasons and anything without proper due diligence will always end up in vain. So, if you would have found time to analyse on finding out high-quality projects then you might have saved all your time and energy by this time. You simply rushed toward the core part of work by missing out what is actually needed. This can be compared like putting all out efforts for a company which is about to be bankrupted.I have also mined few coins but I sold them time to time so that I could cover my running costs. This could be the reason why I am finding myself safer even I have engaged with shitcoins in the past. I mean saving for long-term must be good idea but when you are saving a shitcoin for long term then this kind of situation is unavoidable. Simply, due diligence on the worth of the coin is key here.
Too many new CPU and GPU coins died since 2017 and today on very few survived, electroneum is one of the few projects that survive, mining new coins is like looking for new projects to invest on today, it's almost same kinda risks, you can never tell which one will survive years later, mining new coins is not that encouraging
I never heard any of those coins you mentioned but looking from how you invested for those, it seems like you learned your lesson from it.
I earned some quite few tokens back then realizing they're also dead coins right now.
This shows that the variation of the coins in the market doesn't really give too much opportunity to invest at.
Plenty of opportunity is kind of a overstatement, because most of them ended up to be a shitcoin anyway.
I earned some quite few tokens back then realizing they're also dead coins right now.
This shows that the variation of the coins in the market doesn't really give too much opportunity to invest at.
Plenty of opportunity is kind of a overstatement, because most of them ended up to be a shitcoin anyway.
The OP paid a price in exchange for experience. I don't think there's any veteran member here who didn't make a silly investment mistake too as a newbie. We all did. And that's the badge of honour we got in exchange for the experience we share today. So, it's left for the newbies to borrow a leaf from that or go ahead and make their own mistakes themselves. It's the same way you won't catch me dead playing faucets.
On OP's last line, the use-case or utility of a project is what informs my judgment this day going into any crypto investment. Any project without a use-case won't get my attention, no matter what hype it attracts.
On OP's last line, the use-case or utility of a project is what informs my judgment this day going into any crypto investment. Any project without a use-case won't get my attention, no matter what hype it attracts.
I'm not yet active on Cryptocurrency when these CPU mine coins are ruling the industry, but I read that many coins have died down or become obsolete because there is nothing on those coins that will give them value and people have matured that they are now looking for usage.
You are right, there are many coins from mining to date, even some that have no value. something bad when mining is done to obtain assets that are meaningless even for a long time. I don't know if some newbies are still doing this today, if you are you'd better stop right now. Many new coins can be easily mined through a single CPU or GPU but 90% of them are trash coins, you need to understand how important use cases are.
In the old days, three to four years back I was so obsessed with new coins simply because they are easy to acquire, mining them is easy and difficulty are low, this got me blind so I started mining coins without getting into good research first, I ended up with coins like
Today I asked myself why did I do that back then, I guess it's because I never knew the difference of high quality projects and why some coins make it to top 100, If you are reading this make this your targets
The importance of real use case
I'm not yet active on Cryptocurrency when these CPU mine coins are ruling the industry, but I read that many coins have died down or become obsolete because there is nothing on those coins that will give them value and people have matured that they are now looking for usage. In the old days, three to four years back I was so obsessed with new coins simply because they are easy to acquire, mining them is easy and difficulty are low, this got me blind so I started mining coins without getting into good research first, I ended up with coins like
Today I asked myself why did I do that back then, I guess it's because I never knew the difference of high quality projects and why some coins make it to top 100, If you are reading this make this your targets
The importance of real use case
I was in that trap too heating my computer up for the next Ethereum is what i kept doing acquiring some flashy coins that are just useless trophies now but the truth is market have seriously changed now and obviously investor are more depth focused than before
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Everyone thought it was that easy to make money by mining new coins, they thought they can get rich fast because many lose opportunities when Bitcoin and litecoin was easy to mine, what they don't know is scammers are in the game now, it's hard to mine a new coin that will survive nowadays
I guess they know about the scam coins but they have no choice rather than try to mine new coins and bet on it. So many times the small miners were getting deceived by new scam coin. They were searching for the hype that usually happened with new coins. Jump to: