I stopped most of mining rigs a long time ago (3-4 months ago) when the opportunity to sell all my GPUs for list price after mining with them for a long time. Little did I know they would go up even higher, and profitability would go up even more.
I am still happy with my decision, it wasn't ideal timing but it was a very good time to sell them off. If I had a crystal ball, I would have kept mining.
You won't hit the jackpot mining, it's a slow trickle. You can accelerate that trickle with more investment, but it won't ever be a jackpot in 99.999999% cases.
Harsh truth it is. Guess I expect the same of what you have said looking at the crazy spawn rate of new coins everyday. Maybe I should stay away from those completely new coins but stick with something within top 500.
I think the price of electricity in the country you are in will also be a big determining factor in terms of profitability. In my country electricity is cheaper in lower income group areas, so you have a better chance of making a profit if you mine crypto in the ghetto. :)
I stopped most of mining rigs a long time ago (3-4 months ago) when the opportunity to sell all my GPUs for list price after mining with them for a long time. Little did I know they would go up even higher, and profitability would go up even more.
I am still happy with my decision, it wasn't ideal timing but it was a very good time to sell them off. If I had a crystal ball, I would have kept mining.
Well, if you have a crystal ball, there will be more profitable things to do. Maybe use the money from GPU selling to buy some EOS RAM? Haha.
I've just started mining anyway, just a really small attempt with few GPUs and mine only newest and unknown coins, hoping to hit the jackpot someday.
You won't hit the jackpot mining, it's a slow trickle. You can accelerate that trickle with more investment, but it won't ever be a jackpot in 99.999999% cases.
Harsh truth it is. Guess I expect the same of what you have said looking at the crazy spawn rate of new coins everyday. Maybe I should stay away from those completely new coins but stick with something within top 500.
I hope you got the same energy in person 😁
I think the price of electricity in the country you are in will also be a big determining factor in terms of profitability. In my country electricity is cheaper in lower income group areas, so you have a better chance of making a profit if you mine crypto in the ghetto. :)
@netscape101 you're on the @abusereports naughty list!
Bad Steemian! Bad!
Vote for witness @nextgencrypto!
Thank you for the free promotion @transparencybot and @bycoleman!
@transparencybot you're on the @abusereports naughty list for being a super douche!
Bad Steemian! Bad!
Even in your own country, it varies dramatically, in the US I think it varies from 4 cents to 20+ cents a kwh.
Pussy
The time is near pussy