Another child of the modern world wanting instant gratification. Value has to be earned, yes, even in Crypto. And guess what? sometimes that takes time. If you want to make money in this game you need to make shrewd decisions at the right time, if you don't have the patience to play the long game then you know where the door is but please don't write all over the walls with your crayons on the way out!
I don't agree. If I have to pay 1 USD of electricity to obtain 0.75 USD of cryptocoin is better to stop the rig and spending the 1 USD to buy the coin.
True enough and that's partly what I meant by making shrewd decisions at the right time. The original poster appeared to be suggesting the coin is an instant failure rather than simply saying mining isn't currently profitable for him, or maybe I read it that way because I'm tired of seeing so much hatred and bile in these forums when people don't get their way instantly. If I misread then I apologise. There are other factors worth considering;
Firstly, your mining 'luck' may improve sufficiently enough so that mining is more profitable than trading.
Trading also requires an even longer game and even more patience and faith in your investment than mining.
If everybody makes the same decision and stops mining, one of two things will happen; either everybody will move to the next shiny thing and the coin will die, so you'll be left holding worthless bags OR, the coin will become rarer, acquire more value and become profitable to mine again.
A coin needs investors, miners, traders and most importantly a confident and cohesive community. Anything that jeopardises that is a bad thing, hence my objection to people coming here with negativity to spread and nothing constructive to say.
All true, but I think that this bad situation is originated by a bad IPO, too big and at too low price.
IPO is not always a scam, but if it due too low price and miners escape, the IPO is the cause of the coin death not the miners who are looking for profit margin.