Ninjastic
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Board Mining (Altcoins)
Re: Will mining altcoins on video cards be relevant in the next bull cycle?
by
FP91G
on 27/05/2023, 14:20:06 UTC
Quote from: swogerino on May 26, 2023, 06:59:15 PM
Quote from: FP91G on May 26, 2023, 08:14:18 AM
Quote from: swogerino on May 25, 2023, 08:04:38 PM

That is a question which also has the answer in itself if you look at the data,miners made a lot of money in such times and they,the winners did not start mining when crypto reached these new all time highs,they were mining a whole long before this happened.In this time the "losers" started to appear in the market making the prices of video cards skyrocket to never seen before levels and by "losers" I mean the people who came in after they saw the new all time high and they were in for a quick buck.It is exactly these persons who lost the more and sold everything they bought at a loss because mining is not for a quick buck but is a long process that in the end rewards the patient ones who believe firmly in the future of crypto.
The big drops in coin prices taught miners to sell their coins, so few miners kept their coins until 2017. But buying graphics cards during a coin price all-time high is not as painful as buying a coin at a high price and then selling it at a big discount.

I am proud to say that I am one of those few miners who kept their coins until February 2021 when I sold everything I had at 59.8xx dollars for a Bitcoin and made a huge profit,that is why I always keep at least some amount for the next bull run which based on history should come in late 2025 as the latest in time.Any coin you people keep,whatever it may be,trust me you are going to congratulate yourself when this next bull run starts and you will sell then to make huge profit and be a better man  Grin.

This is how I felt after I got about 40.000 dollars in 2021 which is the pay rate of 2 years where I live now and the pay rate of upper level  Grin.
This is great news. Usually, after a good profit, I lose a little, because I invest in weak projects. I bought different coins, because now it’s more profitable to invest not in mining, but in buying coins. But I left the budget for the purchase of video cards, and I will probably buy a cheaper 3000 series, because I do not like the price of the new nvidia 4000 series.