Topic: should i care about mining as a trader? - page 3. (Read 1053 times)
Yes you are trading and you have to do that in other to be able to profits from the mining business. Mining though look like farm but you should understand that you are trading within the network. Trading is buying low and sell high for profit and we have to see mining the same.
Supply and demand plays a key role in bitcoin trading, new coins are generated on every 10 minutes through mining that can affect supply of the coin so yes you should care about current mining difficulty, total mining power, next difficulty adjustment date and many other technical details/updates if you are trading bitcoin.
Along with news and updates, shift of mining power between bitcoin and its clones can easily affect the price like it have affected few days ago.
Along with news and updates, shift of mining power between bitcoin and its clones can easily affect the price like it have affected few days ago.
Yes, you could care because mining specs, mining time, mining reward, etc. all these things can influence market price and coin growth. I think before investing in a coin you should know all the main informations about this coin.
As a matter of fact, yes. Though you are not directly knowing what's happening in the scene, you should still know some important things about it. First is the date of their payout. Usually I use this one since some miners just carelessly dump their mined coins in the market without knowing the price. This could be turned into a profit later on if the price went down hard. Next is whether there are a significant amount of hash power directed towards the coin you're interested in. More hash power = more support and probably more interest in the said coin.
should i care about mining as a trader? does it affect the coins in anyway?
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