If you guys believe in BTC, then mine whatever alt you are mining and sell for BTC and hold that BTC for months...years
If you guys believe in ETH, then mine ETH, and cold storage it and hold it for months...years
If there are some promising alts/token that can change the world, then sell some of your mined BTC or ETH and buy those tokens and hold for months...years
There were many cycles like this in the past. The true believer kepts mining at a loss or break-even just to accululate some coins and in the end it always paid off.
yup , those guys that kept mining dash and ltc and even vertcoin back in 2013 laugh at these posts
I'm not here to hate on mining, just at my electric rate I would be better off simply buying most coins (currently) & I could sell my hardware for some change and dump that straight into any coins I want increasing my holdings w/ zero work after selling the gear
exactly, in fact in most cases investing directly in crypto is more profitable and less trouble. the mining game has changed, you can't compete with those large operators that have access to almost "free" power and buy mining rigs/asics at a much cheaper rate than any of us. also when it comes to large mining farms, a huge farm in the US can't compete with on in Georgia for an instance, based on 2 main factors
1- power cost.
2- shipping cost.
if you look at large data you will be surprise how much does your location matter in terms of overall cost, when you want to transfer thousands of asics from mainland china to the states you don't expect to compete with a farm in china located next door to bitmain warehouse.
mining as for now is a big gamble, if you are not making in profit or barely making any , and you say to yourself , ok i will just turn my rigs/asics off till prices recover, then you putting yourself in a great risk, the technology is moving fast. your gears will be worthless in couple months.
in plain english, mining is not for everyone as of today, it's a real business that involves great risks and one should think twice and do all the research needed before jumping into the game. people need to understand that 2017 is long gone.
agreed, what I think is really odd is the amount of people holding their gear that they have turned off. That to me and also as you said -- a huge risk -- risky gear for mining risky coins lol
That's a poll I ran on the 26th, not the biggest sample size but definitely an idea.
The odds of that gear going way up in value when coin prices go up vs new gear being out when said coins go up in value . . . . well I know where I am placing my bets
++ if the coins skyrocket in value to warrant this gear being very profitable to mine with again or up in value and X user plans to sell it . . . he probably would have made more money doing nothing if he was just holding crypto
Basically how my thought process boiled down . . sell gear, hodl some coins -- it'll be clear when it makes sense for me to get back into GPU mining
