RE: Is cryptocurrency Your Get Rich Quick Scheme ?
@newmarket65 I am with Genesis Mining for a long while. Together with Genesis I am mining numerous currencies, but I am fed-up with the bad transparency and dwindling income, and sometimes missing payments (on a regular basis).
Separate to Genesis I also run my own rigs. My DASH mining continually reduces with Genesis. My own rigs have been making the exact same amount of DASH units per day since 4 months, even though DASH went up 3-fold in this time. This is just one example of why I do what I do.
I have invested in the stock market since I was 18 and I am now 50. Even Jordan Belfort scammed me. I want my own rigs, amen - if I can't physically touch something I will be scammed down the line, it's just my life experience. It currently takes me 100 days to amortise a rig.
i looking myself to start up my own mine is it tough? wolf of wall street how he scam you?
I personally do not buy any crypto at all, I only mine it. The reason is that I love hardware that I can physically touch, if crypto goes to hell then I still have my rigs, maybe a 50/50 approach is the wisest, but I have had it all, including exchanges fucking me, that's why I distribute my risk and focus on coinfolio. I mine DASH, BTC, ETH, UBQ, SC, BCN, XMR etc.. My mines send the money to either:
1.) Digital wallets that are also actual nodes
2.) Cold storage wallets (see my video on how to make a paper wallet)
3.) Exchanges (such as Poloniex and Bittrex)
The current amortisation period for mining equipment is approx. 100 days.
20 Rigs will cost you around 70 000 AUD, they will currently deliver approx. 700 AUD of revenue a day, and cost you around maximum 6 AUD electricity to run per rig and day.
I was scammed by the wolf and his friends about 25 ago. At that time internet did not really exsist yet, atleast was not accesible fr everyone. I reacted to a small advertisement in Time magazine where a broker was pushing Titanium. All the Titanium I purchased was stored in a "facility". The master himself blew all that money. I received certificates for metal that was never on stock. I was a student at the time, lost all my savings.
do you teach how to mine any you tube stuff. yeah sounds like the current gold market plenty of gold contracts but no gold. that would of made you a lot of money if it was a real investment
Even today where the crypto market has collapsed again, I am still making 24,-- AUD per rig per day. Also, Genesis Mining has again reduced my DASH mining results while my own miners still mining exactly the same quantity of DASH units as 1 week ago, the same as 4 months ago.
yeah good return i am looking to set up my own rigs myself. but need to knowledge first of how to do it
It will take you atleast 3 to 6 months to have enough learning curve to conquer many of the issues. And some issues are just a headache. If you think you can just leave them running and go do a job on the side, then that's probably not quite right. Every coin needs it's own clocking parameters. On days like today it's a total headache, the Ethereum network has been coughing for hours. The ZEC servers are throwing my solutions. Nanopool isn't paying my ETH and keeping it on hold for some religious reason (they had probably spent my ETH when it was worth more, now that prices have tumbled they probably don't want to pass on expensively mined material). Who cares, atleast I am in control. I have now switched everything to DASH - and that's running, fuck them all!
you have good experience when did you start mining how along i would need i think one on one teaching that why i would be interested in getting coached on it from someone like your self to learn it i think your right the curve would be about high. I believe the profit will be high to in the future. what about security when your mining that would be my issue some one hacking your computer
I have been mining at rig-level now for about 1 year, but I have been involved with mining and trying since about 3 - 4 years, always giving-up inbetween. I am with BTC since about 2011. At that time everyone laughed at me, but I had read some books on the topic after i had first laughed at it myself. About 2 years ago I was trying to build my own BTC ATM, but the investors in my company thought I was crazy and then punished me with retraction of funds, unfortunately they now awake to the potential, but I am fed up. You need about EUR 2.000,-- to 2.600,-- to build your own rig, depending on exactly how you want it to look. I live in Australia and Germany and travel inbetween.