WHY NEWBIES KEEP ASKING THE SAME QUESTION " ITS TO LATE TO START MINING ? - page 2.

evenotto

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Quote from: Keadyar on April 11, 2019, 12:58:05 AM

Quote from: panjay on April 10, 2019, 11:15:59 PM

Yeah I think I'm still lucky though, my first mined coin doesn't go to zero, yet Grin

. I think it's useless if you want to jump to mining but not experience it first hand, so I give it a try.

Experience is a great teacher indeed and I agree about the risk management, especially for a newbie. I most likely got more stress if go all in with all of my funds.

It seems to me that mining has ceased to be an opportunity to earn money for a newcomer to the crypto market. This is a business in which serious players play with many millions of investments in equipment.

It's obvious. Even on home equipment it is difficult to do.
The main reason why mining is interesting for newbies is very simple - they hear about cryptocurrency and that it can be mining. This is enough so that they have a question about the relevance of whether he can do it =)

Keadyar

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Quote from: panjay on April 10, 2019, 11:15:59 PM

Yeah I think I'm still lucky though, my first mined coin doesn't go to zero, yet Grin

. I think it's useless if you want to jump to mining but not experience it first hand, so I give it a try.

Experience is a great teacher indeed and I agree about the risk management, especially for a newbie. I most likely got more stress if go all in with all of my funds.

It seems to me that mining has ceased to be an opportunity to earn money for a newcomer to the crypto market. This is a business in which serious players play with many millions of investments in equipment.

panjay

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Quote from: Lucasgabd on April 10, 2019, 10:03:33 AM

great point!
I had good experiences with spec mining in the past and bad experiences.
bad ones usually go to zero so it's better to plan accordingly and never invest more than 3% of total portifolio (3% already being high)

Good risk management is not only for traders! also super necessarry for miners.

Yeah I think I'm still lucky though, my first mined coin doesn't go to zero, yet Grin

. I think it's useless if you want to jump to mining but not experience it first hand, so I give it a try.

Experience is a great teacher indeed and I agree about the risk management, especially for a newbie. I most likely got more stress if go all in with all of my funds.

Lucasgabd

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There's no need to be upset

Quote from: panjay on April 09, 2019, 10:46:36 PM

<...>

great point!
I had good experiences with spec mining in the past and bad experiences.
bad ones usually go to zero so it's better to plan accordingly and never invest more than 3% of total portifolio (3% already being high)

Good risk management is not only for traders! also super necessarry for miners.

panjay

sr. member

Activity: 1079

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A few months ago I tried to mining some altcoins, no I don't own any equipment, just renting hash. That was my first time to mining (if that still considered as mining), the coin was a brand new, no exchange yet but there was discord with an escrow to sell the coin I mined. Well the price still on my ROI range for a while, now it's tanked. Silly me, I still hold it.

After that, I just realized and consider many things if I want to FOMO any coins as the OP stated.

- It's not good to FOMO if you don't understand any shit about that coin like the inflation, FA, etc.
- Make a plan based on your research, like I will sell if this alt has a listing on "x" exchange. So if the price tanked your emotion kinda got sorted off.

fmz89

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Quote from: philipma1957 on September 27, 2017, 09:33:38 PM

Quote from: Raimy on September 26, 2017, 11:52:45 PM

I am looking to get into mining but not in a big way. I just want to buy one or two GPUs and put into my existing computer. I figure if nothing else I can SLI them together for gaming...

The perfect reason to mine with a gpu or two.

And why it is never too late to start mining for a gamer.

Yeah gamer can mine instead and learn how mining can be profitable.
By the way if you have 0.7$ electricity price, you always be profitable even in the bear market like couple months ago. if you have good gpu like vegas

Dont be to hard on them"These noobs", crypto price driving up like crazy becauze of them, we should thanks fo their helps Cheesy

dentolas

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arcs-chain.com

great post my friend, this just sums it up and should be posted on the "welcome" message on the mining sections...
People are always seraching for someone to do their work for them and someone to blame if things go wrong... each one must learn and calculate what would be good in its own context and take responsibility for ones actions...
crypto brings people the ability to be in charge, but they need to take responsability

jacafbiz

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I don't think it is wrong to ask these questions, these is a space full of scams, shillings and pump and dump. They want a cut of the pie, most of the time what I do advice them is that why not first by BTC instead of looking to mining because mining is being hijacked by some power group in the space, that is why POS tokens seems to be on the rise

xxcsu

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Quote from: mak013 on April 07, 2019, 01:36:28 PM

I don`t see any problem. Someone lost his money. Ok, it`s his problem. He turned his rigs off? Ok, difficulty goes down. Mining not profitable? Ok, turn off rigs. It`s just their problem, not yours. If they are listening for unknown man how to spent their money - it`s just their problem.
They don`t disturb me, their problems don`t worry me. I know that mining = profit. And i`m ready to buy their GPU for 50% from MSRP Wink

Exactly

mak013

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Quote from: xxcsu on April 07, 2019, 01:26:02 PM

I created this topic (September 26, 2017) way before the big price jump of the coin prices, tried to warn everyone its a kind of gamble!
Of course some members said the same thing couple of times like just like you said: most of the ppl on this forum are hostile to new miners!
Newbies started to buy GPU's like crazy, 3x 4x more than MSRP, they put they numbers into a online calculator, and they saw a bright, "getting rich fast kinda" future right away

Now this members, people coming back to this forum and crying after they money, this members are who are actually hostile to new miners ! This members opening topics, posting posts like : Turned off all my rigs , Mining is not profitable anymore, My rig making only 900$ a year and that's not good...

I don`t see any problem. Someone lost his money. Ok, it`s his problem. He turned his rigs off? Ok, difficulty goes down. Mining not profitable? Ok, turn off rigs. It`s just their problem, not yours. If they are listening for unknown man how to spent their money - it`s just their problem.
They don`t disturb me, their problems don`t worry me. I know that mining = profit. And i`m ready to buy their GPU for 50% from MSRP Wink

xxcsu

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Quote from: Mesquito on December 03, 2018, 09:42:34 AM

"From the looks of things around here most people are hostile to new miners"
Its because they see new miners as potential competitors

Do you really think most people are hostile to new miners ?
Or some of us just want to warn new miners for the potential risk.
I created this topic (September 26, 2017) way before the big price jump of the coin prices, tried to warn everyone its a kind of gamble!
Of course some members said the same thing couple of times like just like you said: most of the ppl on this forum are hostile to new miners!
Newbies started to buy GPU's like crazy, 3x 4x more than MSRP, they put they numbers into a online calculator, and they saw a bright, "getting rich fast kinda" future right away

Now this members, people coming back to this forum and crying after they money, this members are who are actually hostile to new miners ! This members opening topics, posting posts like : Turned off all my rigs , Mining is not profitable anymore, My rig making only 900$ a year and that's not good...

Mesquito

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I'm creative and work how you need for ETH and BTC

Quote from: Raimy on October 05, 2017, 09:44:47 AM

Quote from: philipma1957 on September 27, 2017, 09:33:38 PM

Quote from: Raimy on September 26, 2017, 11:52:45 PM

I am looking to get into mining but not in a big way. I just want to buy one or two GPUs and put into my existing computer. I figure if nothing else I can SLI them together for gaming...

The perfect reason to mine with a gpu or two.

And why it is never too late to start mining for a gamer.

Thanks for the encouragement! From the looks of things around here most people are hostile to new miners. While I know I missed the boat so to speak, I am only doing it as a hobby, and as you said I can game with the cards as well.

I am looking to put them in a open air frame though, as running inside my PC case is quite warm even with extra fans. Does anyone else run their gaming PC in an open air design, or run a dual gaming mining rig?

"From the looks of things around here most people are hostile to new miners"
Its because they see new miners as potential competitors

adaseb

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Quote from: xxcsu on December 02, 2018, 08:31:49 PM

Quote from: ?? on ??

YOUR CAPSLOCK-KEY SEEMS TO BE STUCK!!!!!!11111oneeleven
But yeah - I agree; maybe a pinned FAQ-thread would be a good idea.

MY CAPS LOCK STILL STUCK Wink

Another bump 4 months later for our newbie members Wink

I realise now that you started this topic at the end of Sept of 2017, and back then you actually would make alot of money if you started to mine. Since there were great deals on GPUs below MSRP during Black Friday and shortly after BTC peaked at $20K and the following month was the crazy alt-coin bubble which was very beneficial to GPU miners, especially where ETH hit $1400.

Don't remember the numbers exactly at the top of my head but I think a RX 470 made like $5/day/GPU and the higher end 1080Ti made probably over $10/day.

Now however, it really is too late to start mining.

xxcsu

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Quote from: ?? on ??

YOUR CAPSLOCK-KEY SEEMS TO BE STUCK!!!!!!11111oneeleven
But yeah - I agree; maybe a pinned FAQ-thread would be a good idea.

MY CAPS LOCK STILL STUCK Wink

Another bump 4 months later for our newbie members Wink

ViWe

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Quote from: xxcsu on July 27, 2018, 11:58:46 AM

LETS BUMP THIS TOPIC AGAIN, MORE AND MORE TOPICS SHOWING UP FROM NEWBIES WITH THE SAME QUESTIONS ....

Shit man, I have been reading these 3 pages and still don't know what is the best coin to mine. Grin

xxcsu

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LETS BUMP THIS TOPIC AGAIN, MORE AND MORE TOPICS SHOWING UP FROM NEWBIES WITH THE SAME QUESTIONS ....

2stout

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When I hear this asked, I take this to mean: Will profits go back to where they were 6-8 months ago.

xxcsu

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Quote from: shaninium on May 21, 2018, 01:26:26 AM

Equilhash asics will push nvidia cards onto other algos, swamping them , reducing profits for everyone. FPGA on the horizon, this is the worst time to build a rig.

Let see whats going to happen soon, when all those Antminer E3's flooding the market Shocked

shaninium

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Quote from: Suslived on May 20, 2018, 07:09:21 PM

Quote from: toefu on May 20, 2018, 06:48:00 PM

been mining for about a year, but will have to say this is the absolute worst time to start mining in my opinion.

asics are attacking all algos, fpga is on the horizon, and new gpus are scheduled to be released by eoy. Even gpu's are still slightly overpriced. There's absolutely no reason to start a GPU mining farm.

Even starting an ASIC farm is questionable and FPGA are so unproven at this point, the risk is extremely high.

Don't forget to add to that equation = Ethereum is starting to transition from POW to POS.

Basically when POS hits, the profit of all other mineable coins will severely decrease. This has been explained far too many times already. People are dumping GPUs while they can. People who don't do enough research are still buying them. lol.

Equilhash asics will push nvidia cards onto other algos, swamping them , reducing profits for everyone. FPGA on the horizon, this is the worst time to build a rig.

Suslived

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Quote from: toefu on May 20, 2018, 06:48:00 PM

been mining for about a year, but will have to say this is the absolute worst time to start mining in my opinion.

asics are attacking all algos, fpga is on the horizon, and new gpus are scheduled to be released by eoy. Even gpu's are still slightly overpriced. There's absolutely no reason to start a GPU mining farm.

Even starting an ASIC farm is questionable and FPGA are so unproven at this point, the risk is extremely high.

Don't forget to add to that equation = Ethereum is starting to transition from POW to POS.

Basically when POS hits, the profit of all other mineable coins will severely decrease. This has been explained far too many times already. People are dumping GPUs while they can. People who don't do enough research are still buying them. lol.

Topic: WHY NEWBIES KEEP ASKING THE SAME QUESTION " ITS TO LATE TO START MINING ? - page 2. (Read 17805 times)