I’ve been mining crypto for the past 2-3 years and would like to share something that many don’t talk about on this forum. After personally experiencing in both mining and selling miners, I’ve noticed that mining is exactly the same as investing in crypto. You buy shitcoin miner, you end up holding bags worth of shitcoin.
People should Forget about all the hype and stop moving around from one miner to another. Only miners that I personally recommend are BTC and LTC miners (ETH no longer ever since a move to POS). Sure, you’ll make bank with all the profits during the bull market, but remember, you can invest in any shitcoin during bull market, and you will more than likely make some money. This isn’t rocket science peeps. There is no secret, hidden, “only you know” crypto. Many of these cryptos in the past that skyrocketed in the beginning never have seen the “light” again even after the return of the bull.
All cryptos LOST and ARE LOSING against BITCOIN. Keep that in mind. Don’t let greed control your emotions.
Just like investing, I would only focus on crypto miners that have surivived multiple market cycles. Many of these “new” crypto haven’t even been tested or even experienced bear market. Many old school cryptos that were available for mining don’t even exist anymore. Don’t assume that “your special coin” is somehow going to turn back up and make you a gazillionaire.
It’s hard to share this, but I personally have lost over multiple six figures that could’ve been gained had I just held on to my BTC and ETH rather than moving from one crypto to another. I’m sure many of you crypto investors that have been in this space in the past 4+ years can relate. It’s all about getting rich slowly. Focus on increasing your income rather than trying to hit home runs. With inflation on the rise, we all need to hustle and make more money each month to support our family and survive.
TLDR: Don’t invest in shitcoin miners! only invest in quality crypto miners.
Xaxaxaxa … you are trying to kill your competition for buying KAS miner
Dont worry there will be lot of KAS miners…
Iam not sure for LTC&DOGE miners , are curently good … With new Bitmain miner on horisont and , probably Doge going on POS in future…
But for BTC I agree totaly… I had very expecive mistakes with KDA miners , but few years ago with Zcash miner I made lot of money… For KDA miners it was bad timeing of purchase…
hahaha…I don’t broker miners anymore. I’m just selling what I currently have in my inventory. Yea…kda was a bust for many. Thanks for reading.
How dare you talk shit on my shitcoin!!! lol Just kidding though. For real I appreciate insight from the veterans of the site. I know that it’s difficult to feel any positivity towards a crypto that has burned you. I lost 40k when I shouldn’t have been playing in the crypto market and got burned bad. I still think theres a whale with a supercomputer manipulating the Eth classic pool. I remember seeing the exact number of shares attempting to be sold at different prices at an astonishingly high frequency and the second you’d invest there was downward pressure. Never upward.
Anyway, I thought Id chime in my two cents. I think there is something to be said about mining though that takes more emotion out of it. The saying that the reason you lose in the market is because of emotion is so true. I know I panic sold a couple times, and now with mining I just love mining and letting the coin stack. I also think there is something to be said about getting in with a crypto you believe in early. The most wealthy Bitcoiners started mining when there was really nothing but an idea to believe in. There was no proof that it would still exist in a decade. Yeah alot of these ventures might be flops but hey its that possibility that it may be the future that keeps everyone going or at least me. I do 100 percent agree with your advice on investing in things that have established significant statistical trends. From a veteran miners perspective do you look at all other coins other than Bitcoin and LTC as shitcoins? Do you like any other alt coins? Im just trying to get an idea of what triggered your rather dismal rant. It was the “2 thousand dollar a day”KS3 wasn’t it? lol
I’ll keep it simple for you. If you are wise enough, you will understand. No need for me to convince anyone to do anything since it doesn’t benefit me a penny.
You asked what I think about other altcoins. Yes, I’m a believer that other altcoins may thrive in the future. However, I also understand that 99% will either fail or they are scams. Altcoins are no different than investing in penny stocks. You either hit it big and take your money out on time, or you’re left holding bags worth pennies.
So here is my answer. This answer is based on my personal research and based on how long the coins have been around. Only other coins besides BTC I believe in are ETH and LTC. Sure there are other projects like solana, matic, and etc. Like I said, I do believe other altcoins may thrive, but based on research, only a handful are true blue chips and rest are nothing but casino coins.
100% agreed. Everything will converge to BTC eventually.
I would agree for the most part. I’ve seen customers make out well because they were lucky enough to buy a Kadena miner right before it popped, but then anyone who bought one after the hype boosted the price is likely still trying to recover their investment. It’s a really good thing to discuss, right now especially, I’m seeing friends starting to get hyped up by meme coins as we roll into altcoin season. As exciting as a quick buck sounds, anything that gets your emotions raised will likely empty your wallet, be careful out there! Plan long term with wisdom.
Me too, I bought a Goldshell KD6 a month before the Bitmain KA3 came out. Talk about bad timing, OUCH!!!