Good day steemit.
I am here to write a bit about mining, cryptocurrency and things in that scope.
I have been mining for about half a year now and find it to be a fairly fascinating view into the world of cryptocurrency. Without the miner's perspective, you are missing half of the story. That is what I want to provide.
I have 2 operations working currently and am running 5 S9's and 7 L3's.
I have been mining Bitcoin Cash and Litecoin for the most part with those machines. To clarify for all of the BCH haters, I have been mining BCH as that is the currency used to purchase more machines from Bitmain. When I feel like I am done purchasing more machines, I will want to get into BTC mining.
I watched BCH pump to absurd levels the day that Coinbase added it as a coin that they deal in. The funny thing is, that day coincided with the next batch of S9's being put online by Bitmain, with BCH being to only way to purchase. During that time, S9's were selling for $8000 on Ebay. They were being offered for $2000 by Bitmain. Go figure that BCH pumped up to that height.
Many people blamed coinbase for that pump and it seems Bitmain (who I think strategically picked that day to release s9's to avoid fingers pointing in their direction) got away with pumping that coin (after accepting BCH for miners for along time). I paid 5 BCH for my first S9, which was only $1200. There is some crazy profit potential when dealing with massive amounts of a coin and having the power to pump a coin that was at $300 USD all the way to $3500 (I don't count that one transaction at $8K).
That is just one example of what people in the mining world are privy to that many might not see or understand. I am sure I will think of more as the days go by. So give me a follow and I will try to keep the things I write interesting or at least relevant.
I will write some things periodically as I think of something that might be of interest. I am not planning at this moment to do any sort of daily or weekly post. That might change in the future. We will see.
Thank you for reading and I look forward to talking with you.
Hi, I'm @edosweet. I stopped by to give you a warm welcome to the Steemit platform. I wish you good luck and many good things as you join us.
Hi, thewitness! I wish you a very successful journey here in this loving and caring community :) Have fun!!
By the way, there are several groups you as a newcomer can join. They will stay with you for your journey, helping and mentoring along the way.
@greetersguild invite link https://discord.gg/AkzNSKx
@newbieresteemday invite link https://discord.gg/2ZcAxsU
Welcome, @thewitness! Looking forward getting to know more from you about mining. Best of luck. ;)
I highly recommend reading through Steemit's FAQ to get to know more details about the system --> https://steemit.com/faq.html
✅ @thewitness, I gave you an upvote on your first post! Please give me a follow and I will give you a follow in return!
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Welcome to steemit :)
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