Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Crypto currency Mining => Topic started by: examplens on February 13, 2024, 12:16:01 AM
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After the shutdown of Ethereum mining, altcoin mining is almost dead or at least not profitable. It depends on the choice of who likes to call such a status. However, every bull brought extra profitability for altcoin mining.
What is the opinion of more experienced miners about this?
I have some mining equipment, and GPUs, and I'm thinking about whether it was a good decision not to sell it earlier, I hope that maybe a similar period could come again.
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I see that the interest for the next two years will be on layer2 tokens, which means more lack of interest in POW coins, but this does not mean that it is not possible to achieve profits. You just need to start with realistic calculations regarding the duration of operation, the best altcoin, and the future trend, and then mining may be profitable or at least lead to profits. Higher than the costs of selling mining equipment and GPUs.
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I see that the interest for the next two years will be on layer2 tokens, which means more lack of interest in POW coins, but this does not mean that it is not possible to achieve profits. You just need to start with realistic calculations regarding the duration of operation, the best altcoin, and the future trend, and then mining may be profitable or at least lead to profits. Higher than the costs of selling mining equipment and GPUs.
I also noticed that maybe there is an increased interest in buying mining equipment. At least in my area.
Maybe it's just speculation by resellers, so they want to get ahead of the market.
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P.S. I'm not a miner, I've been studying this area superficially. I cannot objectively assess these issues. But I'll try to add something from myself that I know and tc. 8)
Strange, I thought miners were still mining (some coins). Of course, not as profitable (as it used to be) but still, I thought they were still mining not abandoned it. There are probably services that show you the future income when mining the (desired) altcoin.
About selling the farm and so on: It depends on your financial cushion + you need to understand the price range of your farm, not to mention the condition. Lots of factors, hard themselves to give any advice. I think it is much easier for you to answer this question.
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I just checked https://whattomine.com/ (https://whattomine.com/) and surprised there are so many coins offer decent profit. Few months ago, i recall there are less than 5 coins which offer small profit.
I have some mining equipment, and GPUs, and I'm thinking about whether it was a good decision not to sell it earlier, I hope that maybe a similar period could come again.
Unless you use NiceHash or similar platform (which automatically give you BTC or fiat), you also need to think challenge to sell those altcoin and whether it's price remain high when you can sell them. After all, waiting for KYC verification on exchange (which accept those altcoin) or minimum withdraw amount on mining pool could take some time.