Topic: Mining New Coins Can be Deceiving (Read 503 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.
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
Mining is not for the people with just CPU or a few GPUs. I did the same but almost all of the new coins were worthless. Cryptonight is CPU and GPU friendly and most of the cryptonight algos are changing to render any ASIC development useless. Most of them don't even make it to the exchange and the ones that does doesn't have any value.
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
Sorry for you lost, yeah I would have to agree that getting early was a good decision. Unfortunately, those coins you choose are not that profitable because those are unknown, or at least only few people invest on them that's why they suddenly die. Also, we're still in the bearish trend so obviously, no money is coming right now in the alt market. I just you just have to hold on them or choose another coin to mine. Lots of trials and errors here in crypto sphere and I'm sure you are not the only one who has experienced this as well.
Mining new coin with low difficulty would be great if the coin have a real life usage that can bring about value.
Gone are the days that every new coin generates profits to the early miners, it is better to mine a listed coin that you can determine their profits before you start nowadays.
Gone are the days that every new coin generates profits to the early miners, it is better to mine a listed coin that you can determine their profits before you start nowadays.
The majority of ERC-20 tokens are dead and I would stay away from them, but I believe that mining ETH is still profitable at the moment, so I never mine tokens, but only coins. Anyway, sooner or later, ETH will boom.
It depends on the location, mining of ethereum based tokens were all dead. Maybe if lucky will get an opportunity to sell at a higher price same as that happened in 2017. Mining new coins will be having low difficulty which is the only advantage, but we cannot believe that the market for such coins will boom. When it comes to top altcoins, it'll give promised profit at least in the long term. I have mined ethereum when it was above $1000, further I was unable to pay for electricity. Based on the location of we can bear the expenses now surely we will be profited later. The majority of ERC-20 tokens are dead and I would stay away from them, but I believe that mining ETH is still profitable at the moment, so I never mine tokens, but only coins. Anyway, sooner or later, ETH will boom.
No one is talking about erc20 tokens on here and i haven't seen any minable erc 20 tokens before, the following coins on the OP list are all cryptonight based algorithm coins and i am not sure that this person mining rigs can mine ETHASH based coins
The majority of ERC-20 tokens are dead and I would stay away from them, but I believe that mining ETH is still profitable at the moment, so I never mine tokens, but only coins. Anyway, sooner or later, ETH will boom.
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
You took the risk, and that is the result. That is why mining is not meant to be a simple hobby but treated like a business which has to be researched and analyzed. There are different ways to go about mining and you need to make sure you know what you are doing.
Some strategies are mining only "blue chip" coins (like ETH, RVN, and the like), immediately selling mining proceeds, or even holding immediately trading mined coins.
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?
Low difficulty and a coin listed at an exchange can make you some quick bucks if you manage to sell fast or the coin is indeed good. Of course, in a vast majority of cases these conditions are not met.
So the answer is, as usual, human greed.
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.
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.
Seriously? ever heard Raven or Grin?
many people mined it even though it has yet to get listed on any exchange before, it is not stupidity but it is an opportunity. Yes, a lot of them are a scam but it does not mean all of them are. You can find a good project from all of those.
there is a strategy to find out whether it is worth to mine or not, first of all, check the repository. It is a full fork or not, and check the activity of the team on their public channel.
if it is not a full fork based project and they act professionally, you can try to mine it. Because it might bring you a fortune,
not only that try to figure out the authenticity of the team member and their social media if everything is real. It is very likely for you to spot on a good project
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
Where do you find this bullshit?
What for? All of these garbage coins have no chance. They are not needed, they have no use, they are not interesting.Tip: finish with mining, go to staking.
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
TOKL coin is not a scam coin but its been managed by just a single developer, it has no teams and the project have no guarantee that it will survive for long, the last time i was on their telegram channel many users are complaining of wallet errors and coins missing in wallets, i stopped mining new coins because 99% of them always end up abandoned at last
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
Are you trying to mine every new coin because of low difficulty for speculative reasons or were there some special reason for picking those ones?
Problem with low mining difficulty is that there is no interest to mine them probably for a good reason.
One of them is that there's no buyers. Other reason can be that the coins are useless.
Some coins can turn out to be gems later but you would probably have to have inside information from devs to pick those.
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
Recoal coin claimed to be a refork of the old BitCoal coin but it was all a process of scamming people and dumping the coin on them, bitcoal ATH was 0.30 and now its trading at 0.0003 which suffers 94% lose, this coin have no real use case and was able to achieve the ATH in last bullrun of 2017 and 2018, i pity all those who invested in such coins
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 its all your fault, are you mining this coins to hodl? if yes then you are the one that brings yourself the losses, these coins you made mention on your lists had their time when they have good value and good volume as well, for few months snow flakes was very high in price and those who are mining the coin always sell in instant on exchange, you can't keep these kind of coins for long, since you are a miner you should be dumping them straight away
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 will depend what coin it is and how the profit is , if the coins can give you a profit of 20usd a day why not, miners needs profit and to pay electric bills, for it to run for a long time, if there is no profit it is useless, new coins can bring furtune to miners simetimes when coins go up and miners have lots of them.they will be millionaires
it.will.only depends on the coins plans
it.will.only depends on the coins plans
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
Mining something with no real value is like double edge sword,it may give huge profits or you will be in vain.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
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?
True that. You are made to believe that the process is not so draining, and that you will make a valuable profit out of it, but in the end, it is mostly all faux. A lot of times, it ends up being a total waste of time. Firstly, you might spend some funds and a lot of time getting the device for mining on your phone, and even with the risk of losing your phone and losing your mines coins, you might still not get the value for the coins that you expected.
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
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