Topic: Mining New Coins Can be Deceiving (Read 458 times)
You must do extensive research before spending your hashing power on some coins that nobody wants to buy or mine. If that research led to choosing coins that aren't even listed in coinmarketcap, then you probably need to change your researching methods and criteria.
Mining altcoins are not a good decision comparing the recent crypto market. Where all the potential altcoins are suffering very much, mining coins are being dead. I left the mining industry years ago. I started mining the GBX coin, which was dead badly.
all the coins (algorithms) which have not yet reached asik to get while profitable to produce. in March to may I have 4 cards rx570 came out 15 dollars a day. it is considered normal income. now with one card out less than a dollar, but over the past week, production is growing.
With the bitcoin market which is currently being bearish indeed makes many altcoins unable to survive. Even good and potential altcoin has experienced a very deep decline in prices. Moreover, the new altcoin which untested and trusted certainly cannot be expected.
From middle of 2017, altcoin mining is not promising anymore. Maintenance costs are higher than the results obtained. That's why many miners stopped mining altcoin.
From middle of 2017, altcoin mining is not promising anymore. Maintenance costs are higher than the results obtained. That's why many miners stopped mining altcoin.
Mining is not good way for earning bitcoin or altcoin, with have buy mining tool on higher price we getting just few coin with lower price, we can take back our money with mining right now, how ever we have pay fee for electricity with higher amount every month and just receiving some altcoin from mining have lower price in exchange market.
what you do is very risky, mining new coins that are not even registered in CMC, even those registered in CMC sometimes have no value anymore.
it's better to mine coins that already have good quality, such as XRP, BTC, ETH or BitcoinCash ABC.
it's better to mine coins that already have good quality, such as XRP, BTC, ETH or BitcoinCash ABC.
You need to choose decent project, to begin with. You should at least tell us a little about each project or give us with a link.
Mining new coins is stupidity. I never heard someone mining coins which are not even listed on any exchange. Only project devs do that for their coins.
Mining is not as easy as it appears. It took 17 months for my friend to recover his machinery cost he set up to mine Ethereum. One has to calculate cost and reward before starting and I see no intelligence in mining coin which is not even listed.
This is why you will never find yourself with a stash of highly valuable coins.... -_- I have made a lot of $$$ mining coins that are new.
Yes it takes forever to break even mining. I don't think it is worth it either.
It is different ALGO as well. Sha256 in insane to mine.
Mining something with no real value is like double edge sword,it may give huge profits or you will be in vain.
Anyway more people go with mining new coins,I am surprised why you did,just only because of low mining difficulty or you researched about that project?
Anyway more people go with mining new coins,I am surprised why you did,just only because of low mining difficulty or you researched about that project?
Mining new coins is stupidity. I never heard someone mining coins which are not even listed on any exchange. Only project devs do that for their coins.
Mining is not as easy as it appears. It took 17 months for my friend to recover his machinery cost he set up to mine Ethereum. One has to calculate cost and reward before starting and I see no intelligence in mining coin which is not even listed.
This is why you will never find yourself with a stash of highly valuable coins.... -_- I have made a lot of $$$ mining coins that are new.
Yes it takes forever to break even mining. I don't think it is worth it either.
Mining new coins can really be deceiving because as we all know if the coin are not listed it has a volume and price already but when it was already listed the coins will be dump in no time, that is one of the many reasons why mining coins or making new coins can be deceiving. But if I we're yoy, I will mine bitcoin because bitcoin has a lot of chance to arise than the other coins.
Do you know how hard it has become to mine bitcoin in 2019? you will spend alot on the highest asic miners to see reasonable Return of investment but mining altcoins by building mining rigs is still cheaper especially when mining new coins cos you won't need most powerful rigs, some even use old PCs and GPUs to mineIt is different ALGO as well. Sha256 in insane to mine.
I think Cryptonight coins are very easier to build than ETH Erc20 tokens because 99% of cryptonight coins i mined are all dead now,i started mining the following some months back and now they are all dead.
1.TOKL
2.FEST
3.SnOWFlake
4.ReCoal
5.Bbs coin
I mined this coins back then because they are new and new coins always have low mining difficulty thinking to myself that the wuickly i start mining new coins the more quantities i will owned but i was wrong, any advice will be fine thanks
1.TOKL
2.FEST
3.SnOWFlake
4.ReCoal
5.Bbs coin
I mined this coins back then because they are new and new coins always have low mining difficulty thinking to myself that the wuickly i start mining new coins the more quantities i will owned but i was wrong, any advice will be fine thanks
I think it's quite difficult to guess which of these coins will be pumped... Mining is useless in my opinion, better invest these cash to some strong coins. Unless you have some free energy and hardware of course
Mining a new, unknown and non-trading coin is a risk. By mining them you risked and you were out of luck. But if you have enough power for mining, then you should use part of your hashrate in the extraction of new coins. Sooner or later you're lucky. For example, those who began to mine BEAM in January now feel not bad.
Mining new coins is better than promoting new projects, if you have the mindset of dumping the new coin you mined you will see good profit, most new coins always get listed but dumps might follow, they seem to have good trading volume than new bounty projects Mining new coins can really be deceiving because as we all know if the coin are not listed it has a volume and price already but when it was already listed the coins will be dump in no time, that is one of the many reasons why mining coins or making new coins can be deceiving. But if I we're yoy, I will mine bitcoin because bitcoin has a lot of chance to arise than the other coins.
Do you know how hard it has become to mine bitcoin in 2019? you will spend alot on the highest asic miners to see reasonable Return of investment but mining altcoins by building mining rigs is still cheaper especially when mining new coins cos you won't need most powerful rigs, some even use old PCs and GPUs to mine 
If I had a mining tool, I would definitely do the same. I used to want to buy a mining device, but there were other urgent needs that were delayed. Mining new coins or tokens does have advantages in terms of the level of difficulty that is not too high. If you find a potential, of course, it will provide many benefits, who know the price can soar like BTC, ETH, and other coins that are currently the best in coinmarketcap. Take advantage of every opportunity. Fight, bud.
This reminds me when i used to mine electroneum coin, the mining difficulty was very low for a month and half but due to the popularity of the project the mining difficulty rise up so high in just few months and it became non profitable anymore, the lucky ones are the early miners, they are able to mine huge numbers of the coin so what you are doing is not a bad idea but you just picked the wrong coins
Electroneum (ETN) is a more reliable crypto project with a real use case compared to the ones on the OP list, i am sure that he have learnt his lessons now, before mining new coins make sure its a big coin coming from big company and you won't end up wasting your precious time
At least ETN is much better in term of profits and it has some places to be used to liquidating the coin for miners.
A big company will not always guarantee if that will be a good coin for sure, like miners and what they are looking for to search a coin that still gives a few pennies to cover all of the operation costs and maintenance.
As long as it has already listed on various exchange sites and it has a lot of liquidity for miners, and it becomes a reliable coin to be mined.
These aspects must be considered as the main thing before try to mine a coin.
Liquidity is the main thing.
mining new and still unknown coins, I think it’s a very risky move, if you are lucky you will earn, but most likely not
I don't know why you don't see the positive in doing so, assuming the prices of these coins pumped you would be sitting on pretty cash, for me it worth the try, I think the mistake you made was not researching these projects before mining them. I think ICOs ERA is what takes the fun of mining coins away because it is a very easy route for the developers to take
Mining a new, unknown and non-trading coin is a risk. By mining them you risked and you were out of luck. But if you have enough power for mining, then you should use part of your hashrate in the extraction of new coins. Sooner or later you're lucky. For example, those who began to mine BEAM in January now feel not bad.
I think Cryptonight coins are very easier to build than ETH Erc20 tokens because 99% of cryptonight coins i mined are all dead now,i started mining the following some months back and now they are all dead.
1.TOKL
2.FEST
3.SnOWFlake
4.ReCoal
5.Bbs coin
I mined this coins back then because they are new and new coins always have low mining difficulty thinking to myself that the wuickly i start mining new coins the more quantities i will owned but i was wrong, any advice will be fine thanks
IMHO mining of new coins was very risky in our present market condition, take into consideration that the cryptocurrency market was already suffering and continue decreasing even the old coins are also affected by these trend how come to the newbie coins, will be survive, thats why many ICO/IEO and platforms choice to use ERC20, or Tron,EOS,BEP etc. beside it was already known its easy to use and mentained that was just my opinion im not an expert regarding these topic. 1.TOKL
2.FEST
3.SnOWFlake
4.ReCoal
5.Bbs coin
I mined this coins back then because they are new and new coins always have low mining difficulty thinking to myself that the wuickly i start mining new coins the more quantities i will owned but i was wrong, any advice will be fine thanks
This reminds me when i used to mine electroneum coin, the mining difficulty was very low for a month and half but due to the popularity of the project the mining difficulty rise up so high in just few months and it became non profitable anymore, the lucky ones are the early miners, they are able to mine huge numbers of the coin so what you are doing is not a bad idea but you just picked the wrong coins
Electroneum (ETN) is a more reliable crypto project with a real use case compared to the ones on the OP list, i am sure that he have learnt his lessons now, before mining new coins make sure its a big coin coming from big company and you won't end up wasting your precious time
the comparison doesn't even make sense to me. a mineable coin needs an entire stand alone blockchain and needs a full project, granted they keep copying the same thing and only change the name but still the blockchain needs to be stand alone. a token like the ERC20 ones doesn't need that. they are like mushrooms and are not stand alone so it is always easier to create tokens compared to a coin.
as for mining, their difficulty is low because they are garbage so nobody wants to mine them. less miners, less hashrate and less difficulty. the cost isn't justifying the tiny profit if any.
as for mining, their difficulty is low because they are garbage so nobody wants to mine them. less miners, less hashrate and less difficulty. the cost isn't justifying the tiny profit if any.
Mining something with no real value is like double edge sword,it may give huge profits or you will be in vain.
Anyway more people go with mining new coins,I am surprised why you did,just only because of low mining difficulty or you researched about that project?
Anyway more people go with mining new coins,I am surprised why you did,just only because of low mining difficulty or you researched about that project?
Mining new coins is stupidity. I never heard someone mining coins which are not even listed on any exchange. Only project devs do that for their coins.
Mining is not as easy as it appears. It took 17 months for my friend to recover his machinery cost he set up to mine Ethereum. One has to calculate cost and reward before starting and I see no intelligence in mining coin which is not even listed.
It is a risk. You can mine coins from top 100 and get a certain profit or bet on low market cap coins.
Similar is the case with investment. You can buy coin that has a greater chance of succeeding, but it has a lower potential profit.
Similar is the case with investment. You can buy coin that has a greater chance of succeeding, but it has a lower potential profit.
Jump to: