Mining for the future | Bitcointalksearch.org

darthmaul

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Quote from: PremiumCodeX on May 24, 2017, 08:50:39 AM

When you mine, do you consider the altcoin's current price only or "mine for the future"? The same amount of mined altcoin that does not look worthy now could worth much much more in the future. How do you consider an altcoin's potential when choosing what to mine?

I always mine for the future. No matter what the current price of alt coins is. Because if I start thinking of the alt coins current situation and if the market value is not that good then I lack my confidence of mining. So it is better I don't look at it and keep mining for myself. I trust bitcoin world and its relatives a lot. So I find it more secure to mine alt coin at some instances. Anyway I take it as side business and don't mix it up with personal earnings from real job.

QuintLeo

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Rate where I was at in Iowa was complicated - the base rate was tiered in the winter but not in the summer, I had Time of Day rate, and there were a few "surcharges" that TOD rate SHOULD have applied to but did not.

End result, 9 months out of the year at my usage level the last several months I was there ended up being a bit less than 8c/kwh, but the 3 months of the "summer" starting in mid-June going to mid-September it ended up being over 14c/kwh.

My current place I'm on a "fixed" payment for electric I negotiated with my landlord as part of the moving process.
Immediately previous place (same landlord) I was paying ballpark 4.5 (and will be paying a hair higher than I was in the new place, as the rate went up a couple percent during the time I've been in the current place).

VoskCoin

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Quote from: QuintLeo on May 27, 2017, 04:33:24 PM

Quote from: PremiumCodeX on May 27, 2017, 07:28:36 AM

Quote from: QuintLeo on May 24, 2017, 08:24:15 PM

Last couple months have been different though - my power capasity where I'm at now is capped, and I've been in negotiations for a new place (then availability got delayed when the existing tenant took a month longer to get moved out than the landlord was anticipating) so I had to save up cash for first-and-deposit while keeping enough around to keep the current place paid up....

So, could you move into your new home, at the end?

Your description suggests you are making your living from mining. Is that true?

New "workshop" type space actually, and per the Landlord I'll be able to take possession of the new place by the end of the month.
End of last month would have been a lot better though - we've had *2* heat waves so far this month and the new place has a LOT better ventilation options than the current place, in addition to the more-than-double power capacity.

I went "pro" as a miner (and have made my entire living from it) for almost a year now, the low-cost electric access to give me the ABILITY to "go pro" so is why I moved from Iowa to Central Washington last summer.

What was your price per kwh and what is it now? That's awesome good for you man.

QuintLeo

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Quote from: PremiumCodeX on May 27, 2017, 07:28:36 AM

Quote from: QuintLeo on May 24, 2017, 08:24:15 PM

Last couple months have been different though - my power capasity where I'm at now is capped, and I've been in negotiations for a new place (then availability got delayed when the existing tenant took a month longer to get moved out than the landlord was anticipating) so I had to save up cash for first-and-deposit while keeping enough around to keep the current place paid up....

So, could you move into your new home, at the end?

Your description suggests you are making your living from mining. Is that true?

New "workshop" type space actually, and per the Landlord I'll be able to take possession of the new place by the end of the month.
End of last month would have been a lot better though - we've had *2* heat waves so far this month and the new place has a LOT better ventilation options than the current place, in addition to the more-than-double power capacity.

I went "pro" as a miner (and have made my entire living from it) for almost a year now, the low-cost electric access to give me the ABILITY to "go pro" so is why I moved from Iowa to Central Washington last summer.

Bamsed

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Quote from: PremiumCodeX on May 24, 2017, 08:50:39 AM

When you mine, do you consider the altcoin's current price only or "mine for the future"? The same amount of mined altcoin that does not look worthy now could worth much much more in the future. How do you consider an altcoin's potential when choosing what to mine?

In my opinion, I am more considering for the future, because seen from its development is very suitable for investment Grin

I am mining some good altcoins such as Eth and ZEC. I sold 20% to cover my bills.

Ayers

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Quote from: PremiumCodeX on May 24, 2017, 08:50:39 AM

When you mine, do you consider the altcoin's current price only or "mine for the future"? The same amount of mined altcoin that does not look worthy now could worth much much more in the future. How do you consider an altcoin's potential when choosing what to mine?

most of the time i just dump and go away to another coin, but there are some coins that i like to hold in case they go big, but those coins must have potential, like an active dev and a good roadmpa, new things coming that make it special and stuff like that, otherwise i don't hold anything, i do this with 2-3 altcoin no more as it very risky to hold many

Gunntha

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I mine for "now" , because if I mine a "shitcoin" for the future, it could happen that it never goes up in price.
I have to pay the electricity for my mining rig, so I am somewhat in need of the money! Wink

PremiumCodeX

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Quote from: QuintLeo on May 24, 2017, 08:24:15 PM

Last couple months have been different though - my power capasity where I'm at now is capped, and I've been in negotiations for a new place (then availability got delayed when the existing tenant took a month longer to get moved out than the landlord was anticipating) so I had to save up cash for first-and-deposit while keeping enough around to keep the current place paid up....

So, could you move into your new home, at the end?
My acquaintance happened to be in a difficult situation too. She was supposed to move into her new place, but the existing tenant took more than a month longer than it was planned and in the same time my acquaintance's landlord wanted her to move out, already. Fortunately, she could find a place at her relatives until she could move on. She was not familiar with mining, though. But you were lucky to have have this income from mining to help your cause

Your description suggests you are making your living from mining. Is that true?

QuintLeo

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I usually mine for "now" (defined as "I'll be selling it today or tomorrow) as I have bills to pay and usually have spare power capacity available to set up more miner rigs to use.

On RARE occasions when I have excess I might hang on to a few mined coins for up to a couple months when I think that coin is going to appreciate for a while (right now LiteCoin) *AND* I don't have enough spare coin to build a new riig yet.

Last couple months have been different though - my power capasity where I'm at now is capped, and I've been in negotiations for a new place (then availability got delayed when the existing tenant took a month longer to get moved out than the landlord was anticipating) so I had to save up cash for first-and-deposit while keeping enough around to keep the current place paid up....

PremiumCodeX

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When you mine, do you consider the altcoin's current price only or "mine for the future"? The same amount of mined altcoin that does not look worthy now could worth much much more in the future. How do you consider an altcoin's potential when choosing what to mine?

Topic: Mining for the future (Read 990 times)