Closed my small family farm, sold out rigs, and buy in! - page 3.

robelneo

legendary

Activity: 3346

Merit: 1214

Quote from: coin8coin on January 01, 2019, 11:27:12 AM

It's not cost effective to mine these days

Can't get cheap electric so I decided to close my small farm.

I have sold 5 6*cards rigs and got some money back!

It's time to buy in...

any suggestions on which alt coins to buy ?

I cannot blame you I think you made the right decision only big companies with mining in cheap electricity can do mining even cheap electricity cannot even guaranty profit now, it's better to buy some good coins and just hold for future profit, we are on a dip and soon bull run will come.

trash321

full member

Activity: 602

Merit: 100

Quote from: ccsang on January 02, 2019, 04:35:23 AM

I saw that a lot of people start to switch off or sold their mining rig because of current market situation their mining profit can't paid the electric costs, however at least you got some money back, try to research top 100 altcoins, most of them have potential to gain big profit in next market pump.

Yes, I understand what you are talking about, because I also stopped doing it, although it used to bring profit, now many projects are switching to other systems such as POS and basically there will be such systems. What can be said about this? I think that our time is passing.

Joyawan13

full member

Activity: 910

Merit: 100

elysian.finance

Quote from: Golftech on January 02, 2019, 09:58:28 AM

Quote from: gostop on January 02, 2019, 08:36:54 AM

Crypto mining is no longer profitable. Selling a mining machine may be a good choice, but if you want to invest, I think it might wait for a while.

Analyzing the trend and knowing which coins can be a good one to divert your money, as mining is no longer profitable from what the market conditions right now, but before you jumped in make sure that you study the whole industry, avoid losing your money by picking the wrong project.

yes, with electricity and other costs, mining is indeed very unable to benefit, because the current market price, selling machines to switch to buying several altcoins for us to make a long-term investment, is an alternative to be able to generate profits in the future, but indeed we must really be able to choose and if we think that the altcoin can grow rapidly in the future, and indeed we should not be wrong to choose.

Reid

hero member

Activity: 3024

Merit: 651

Why altcoin? Go bitcoin.

It's cheap for now but there is a higher chance that it will go upward.
But if you are really decided to choose an altcoin then I would go Ethereum. Somehow I think it already reached its bottom so it is obvious into where it will go next.
Of course it wont go zero. There is still a lot of users that transacts with it.

syberwolfen

sr. member

Activity: 790

Merit: 261

Quote from: coin8coin on January 01, 2019, 11:27:12 AM

It's not cost effective to mine these days

Can't get cheap electric so I decided to close my small farm.

I have sold 5 6*cards rigs and got some money back!

It's time to buy in...

any suggestions on which alt coins to buy ?

It's good that you sold the cords as mining is not profitable these days and its better to Invest in crypto currency to see some changes in the value to get some profit. I suggest you to go with the Top 10 coins in the CMC once after Investing kindly wait patiently for few more months to see a change in Market don't be in a hurry.

elcoblast

full member

Activity: 390

Merit: 100

Quote from: bitkanu on January 01, 2019, 11:34:52 AM

It should be the major crypto and why? that gives you the more guarantee on the development progress and anything that related to the adoption, cooperation and partnership. Medium and small tier coin could be another choice but that will be involving the more risk.

yes, bought altcoin for now it's great for holding in long time, but don't fast for take action to buy altcoin because market condition for now is not stable, another bearish maybe are coming nearly

dumplingsandsushi

member

Activity: 476

Merit: 41

You are wise to get out of mining, especially if you were doing any of the major coins.
At this point, the only 2 options you have is to join one of the huge mining pools that monopolize everything and compete for hash power.
Or move to the middle of nowhere on earth where utilities will be dirt cheap.
Neither are attractive options.

Now that the market is low, it is best to take all that money and buy up btc.
I know you asked for an alt, but in times like these, your best bet is btc.
You could split it up and go for one of the smart contract projects (like neo, ada, etc.), but I think you will find that btc will give the most consistent gains.
And it's dirt cheap right now too.

Johnyz

full member

Activity: 2086

Merit: 193

Just look at the top coins and your money will be good. Go for ETH, XRP and EOS these coins can make a big comeback and its price will become higher until they reach the new peak. Go for long term investing and don’t forget to own bitcoin, this is still a top coin that can generate profit better to have it on your portfolio.

cola-jere

full member

Activity: 665

Merit: 107

I'm going for Eth and Monero.
I see a lot of future on both platform and their coins as well.
Good luck to everyone this 2019!

tuanytcc

member

Activity: 476

Merit: 14

Bcnex - The Ultimate Blockchain Trading Platform

Quote from: coin8coin on January 01, 2019, 11:27:12 AM

It's not cost effective to mine these days

Can't get cheap electric so I decided to close my small farm.

I have sold 5 6*cards rigs and got some money back!

It's time to buy in...

any suggestions on which alt coins to buy ?

Selling all mining computers and use this money to buying cryptocurrency at this time, instead of losing cost for mining is also a wise choice. And the trend of future will also prioritize POS instead of POW

eagle10

sr. member

Activity: 840

Merit: 252

Quote from: coin8coin on January 01, 2019, 11:27:12 AM

It's not cost effective to mine these days

Can't get cheap electric so I decided to close my small farm.

I have sold 5 6*cards rigs and got some money back!

It's time to buy in...

any suggestions on which alt coins to buy ?

With that being said, you are lucky to get your money back and thinking of investing in the cryptocurrency market. I guess the best coin you could buy and invest is the coins which belong in the top 30 in the coin market cap.

Golftech

hero member

Activity: 2128

Merit: 520

Quote from: gostop on January 02, 2019, 08:36:54 AM

Crypto mining is no longer profitable. Selling a mining machine may be a good choice, but if you want to invest, I think it might wait for a while.

Analyzing the trend and knowing which coins can be a good one to divert your money, as mining is no longer profitable from what the market conditions right now, but before you jumped in make sure that you study the whole industry, avoid losing your money by picking the wrong project.

CryptoAssasin

jr. member

Activity: 308

Merit: 4

MenaPay - Crypto made easier than cash

That is the wisest decision to make at a time like this and I agree that mining is not that profitable for small time farmers. No hard feelings but the fact that you only have that number of rigs cant actually cover the bills and the price movement for altcoins is not that favorable. I suggest you grab some potential altcoins like Credits, ADA, XMR, EOS, NEO and the most bullish this month, Ethereum.

wattson

full member

Activity: 434

Merit: 103

Quote from: coin8coin on January 01, 2019, 11:27:12 AM

It's not cost effective to mine these days

Can't get cheap electric so I decided to close my small farm.

I have sold 5 6*cards rigs and got some money back!

It's time to buy in...

any suggestions on which alt coins to buy ?

I am not sure it's time to buy in) But mining became really pathetic now, that's true. I wonder what ROI did you get from this? What was the buy price and what was the sell one? Bet you've lost at least 70% as result.

Dobby070

copper member

Activity: 154

Merit: 0

www.codex.one

Quote from: coin8coin on January 01, 2019, 11:27:12 AM

It's not cost effective to mine these days

Can't get cheap electric so I decided to close my small farm.

I have sold 5 6*cards rigs and got some money back!

It's time to buy in...

any suggestions on which alt coins to buy ?

Why not convert your mining rigs to Gaming rigs then sell it on the the market? But that's fine, I advise you to buy Ethereum, look at some news and you will figure out why. Though, mining might be profitable soon, It's the right thing you've done.

JeromeL

member

Activity: 554

Merit: 11

CurioInvest [IEO Live]

Quote from: coin8coin on January 01, 2019, 11:27:12 AM

It's not cost effective to mine these days

Can't get cheap electric so I decided to close my small farm.

I have sold 5 6*cards rigs and got some money back!

It's time to buy in...

any suggestions on which alt coins to buy ?

Buy Ethereum. It will soon grow strongly in price. In a month there will be news about Ethereum 2.0. This will give a good growth stimulus.

crzy

full member

Activity: 2128

Merit: 180

Quote from: izanagi narukami on January 01, 2019, 11:41:58 AM

Personally I just focus on bitcoin , because I'm already earn more than $ 10.000 over 4 years because of it.
For alternate investment, ETH may become the wise choice , just do the same, Hold it because I will keep doing it for next 1 or 2 years !

Bitcoin also makes good profit for me so this is my top suggestion to those who wants to enter in the market right now. The only altcoin that I trust much is the ETH, you can see the market right now that ETH was able to get back in the top position which is a sign of a real strenght of ETH. You sacrifice a lot and hopefully that you will make a good decision, solding your rigs wll become more worth it if you put that money in the right coin.

gostop

member

Activity: 388

Merit: 10

Crypto mining is no longer profitable. Selling a mining machine may be a good choice, but if you want to invest, I think it might wait for a while.

kostepanych2

full member

Activity: 1274

Merit: 105

Quote from: coin8coin on January 01, 2019, 11:27:12 AM

It's not cost effective to mine these days

Can't get cheap electric so I decided to close my small farm.

I have sold 5 6*cards rigs and got some money back!

It's time to buy in...

any suggestions on which alt coins to buy ?

I suggest to diversify your portfolio and buy Bitcoin and Altcoins from top 20, for examle Ethereum, Litecoin, Monero, Dash, Neo, Nem, Eos, Cardano, etc...

frchowe214

member

Activity: 402

Merit: 10

It is alt season now so selling mining equipment will give some funds to invest in other coins like Cardano, EOS, and other top quality coins. Zcash is a good privacy coin to add some variety, those might pump as regulation kicks in

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