I sold my CryptoNight ASIC miner and accumulated 500 STEEM through mining and purchasing from its sale price.

I mistakenly bought a CryptoNight ASIC miner Baikal N+ during CryptoNight algorithm saga.

I found a deal on Ebay for $1500 for Baikal N+. Though I knew that Monero will switch algorithm, I thought I could mine other CryptoNight coins such as BCN, AEON etc. and make profit.

Fortunately, I was able to mine AEON for 1.5 months before AEON switched to CryptoNight Lite V1 and sold them for STEEM.

After Bitamain Antminer X3 220 KH/s, ASIC mining for CryptoNight coins became almost unprofitable. Bytecoin supporting CryptoNight gave me some hope. However, bear market and low price of BCN, make it un-survivable.

However, I continue to mine Sumocoin or Bytecoin.

Though recently, Electroneum mining is profitable, I am concerned with hassle of switching algorithm after few days.

Therefore, I sold it for one-third of the price and bought STEEM with the money.

Roughly, I guess that I am able to manage 500 STEEM. If Steem reaches $3, I will make break even and redeem my mistake.

However, if Steem reaches $5 and beyond, I will able to make some handsome profit. I believe that Steem is very undervalued crypto comparing to its utility and popularity.

The lesson is learned- never accept defeat and work with growth mindset and try different paths. The end result will be a success!

Disclaimer: This opinion is not a financial advice, it my personal perspective and opinion. Please seek professionals for financial decisions.

Image sources: Most images are open sourced (e.g. Pixabay, Wikimedia etc.) with Creative common license. Some images are used with due courtesy to respected owners.

Thanks for reading.
@riseofth
Cryptominer since 2013, occasional trader and tech blogger