I wanted to start this post out by talking to you about CryptoCurrency. Maybe you came here already full of knowledge, and can share with the rest of us, or maybe you came here trying to figure out how to actually make money in the CryptoCurrency mining land. Either way hopefully you can find something useful.
First let me address that this post is not about mining profitability but rather, what am I doing with my mined crypto funds that I think may propel my holdings in a forward looking direction.
I documented the way I was mining and what I was making back in my own post here: https://wp.me/p8hBGm-cA
I did make $400 or so my first month, also documented in the money in that blog post. However going forward, the market had crashed, and I saw that all the mining equipment had still been going through the roof for pricing. So I held steady for awhile and kept looking for used equipment, and still add a card here and there when I have the money for it. Although now I think its smarter to simply invest that dollar amount into some altcoins. I recommend using a known good known Exchange that delivers their airdrops, like Binance.
Mining with gaming PC:
Ryzen 1950x mining XMR:
Strategy #1
My first strategy started with selling all my mined Ethereum into smaller alt-coins.
Why this failed the first time around:
The CryptoMarket crash of 2018.
While I don't truly think that it was failure as Im happy with my holdings recovering now. However had I held Ethereum, I would have had more money to buy the altcoins on the dip, as Ethereum had not fallen as much.
The reasoning
My reasoning for this strategy involved the fact that Ethereum was running up quite high and running out of steam. In that case I was going to have much higher profit potential by buying other coins. This may have ended up playing out if I didn't time the market crash so poorly.
Strategy #2
My current strategy is mainly to hold my Ethereum, and sell only a little at a time for ICO's such as This Daico Called Abyss. Or The awesome one nearly sold out www.Getbabb.Com
Anyway, the rest I will hold for the time being and possibly put a small percentage toward some alt-coins for other long term holds such as QTUM, WTC, etc...
The reasoning
Current reasoning is becuase Ethereum has a lot of potential as a platform, and their prices are very stable. Once the market gets its footing, we may be able to put some other orders out there for alt-coins such as TRX or XLM and XRP, but for now we HODL.
Did you enjoy this write-up? Let me know!