Back then and Now, lesson learnt - page 7.

Fallenkeith75

member

Activity: 242

Merit: 10

Hi Crypto Friends :)

Quote from: Greatchu on July 07, 2020, 03:15:07 AM

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

^ This. 2017 you could have held almost anything and made money though. Now....meh...

Tbh, the CMC landscape of the top 50 changes pretty much every year. I think when we see the next bullrun, crypto will probably look much different.

Little Mouse

legendary

Activity: 2268

Merit: 2327

Marketing Campaign Manager |Telegram ID- @LT_Mouse

Mining trash coin back in 2017 was sometimes profitable but these days almost more than 90% coins are shit and not profitable to mine even. You are right that use case is the key of all after all. Without any real use case, no project have any value at all.

Beparanf

hero member

Activity: 2954

Merit: 796

3 years ago, it's easy to acquire coins even we don't do throughly research as only few were scamming and more are really focus on building their name and product. Now, we really need to put effort in researching to avoid scam or better invest only in BTC or some of those old top coins that are consistently developing their product for better adoption. Im still thankful that I was able to earn in mining, airdrop and bounties before.

poodle63

hero member

Activity: 2702

Merit: 510

Leading Crypto Sports Betting & Casino Platform

I didn't know about what they were thinking about to mine a new crap coin that didn't have a good fundamental to be considered as a project. So many miners I guess small miners have been getting trapped by the crap coins like these. They must have learned a lot of lessons from here.

Genemind

sr. member

Activity: 1596

Merit: 335

Investing a few years back is different, as soon as new coins arise it easily comes and goes to the market really quickly. Investors nowadays are different and wiser, most people are after use case, but of course, we cannot sum-out people who are investing in money. If you are new in crypto, sticking to the top market cap coins is the safest investment, compared to new coins.

bigcash2011

sr. member

Activity: 1442

Merit: 265

Quote from: Greatchu on July 07, 2020, 03:15:07 AM

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

I remember how i used to tell friends about these new and useless coins back then and they were also excited to mine or invest in such coins but i always suggested them not to do so because these are just superficial kind of projects that will just take your money and nothing else they are also regretting now and the best thing, i agree is to stay in top coins atleat 90% of your holdings should be top coins and with 10% you can try new good looking projects.

Twinkledoe

full member

Activity: 1904

Merit: 138

★Bitvest.io★ Play Plinko or Invest!

Back then, very few will focus their research on the use case of the coin. So I really don't blame the OP as we had that kind of thinking before. But then more and more coins were launched and turned out to be crap. And so most of us learned lessons from these crap projects.

Winscosinally

member

Activity: 490

Merit: 16

Quote from: Greatchu on July 07, 2020, 03:15:07 AM

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

I remember some of these coins because they are all cryptonight Algorithm coins, that's the perfect Algorithm for my old mining setup, i got trapped too with many shitcoins that turned dead but I was lucky to mine Dero and electroneum, I made few good $$ from these two, some useless coins I mined then are Ferro, Kepl, Sadomi,BBScoin, they are all useless junkies now

Ucy

sr. member

Activity: 2674

Merit: 403

Compare rates on different exchanges & swap.

Hyped projects usually get that kind of attention. So i don't blame their investors too much... (i mean people who mine/invest in them) . It's difficult to determine what project deserves people's investment. I am not sure if there is any known right and accepted standardard method of for determining this. The good projects may not be getting the attention they deserve while the substandard ones get the attention they don't deserve.
Would be better to invest in well decentralized, safe, useful, easy-to-use and efficient projects to help their developments. That's what you should probably be looking for and stick with them. Finding them can be quite challenging though.

Slow death

legendary

Activity: 3234

Merit: 1130

Leading Crypto Sports Betting & Casino Platform

Quote from: Greatchu on July 07, 2020, 03:15:07 AM

The importance of real use case

this has been the first question I ask myself when I see a new project or existing projects. I think I got hooked on that phrase: "does this project have real use?". But being honest with you there are few projects that, even with some real use, can be very successful, maybe it is the lack of dedication of the project team, and imagine projects that have no real use? there are times when I look at 20 projects and I don't find 1 useful at least Sad

covfefe_

full member

Activity: 953

Merit: 105

For me personally, mining experience were favourable. I'm not a professional miner but just a guy with a computer. I've in past mined, Monero, Electroneum, BiblePay and a few other I forgot about and the three I mentioned brought me a favorable results. Mostly I mined with a single GPU and a CPU.
Even if you failed to get any cash from mining, it's still a good experience to have. Trying mining would make you know many things about the cryptocurrency and how it works.

jossiel

hero member

Activity: 3150

Merit: 636

DGbet.fun - Crypto Sportsbook

I guess you did that before is because that most of the projects that comes out are being bought by the investors. That what has happened before when a new project was being advertised and being market by many people, a lot of investors were thinking it could give them good returns.

Just learn from it and those moments are now your experience that you will never do again.

Greatchu

member

Activity: 490

Merit: 10

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

Topic: Back then and Now, lesson learnt - page 7. (Read 936 times)