Mining and Crypto guide to surviving the bear market and BIP 148 UASF (possible bitcoin fork)

Right now is a very painful time for miners and those of you that are new to mining are likely to be be pretty disheartened.

If you were waiting for my updating mining rig guides they are half written and will be coming soon! I think this is more important.

There has been other times similar to this in the past and profits have not been good. Right now you need to think about chasing the profitable coin. You also need to think about what is coming on the 1st of Aug which will effect everyone in Crypto.

If you are unsure about it still read up on it here.
https://bitcoinmagazine.com/articles/bitcoin-beginners-guide-surviving-bip-148-uasf/

For miners there are not many positives. You must put your mining results into calcuators such as http://whattomine.com and double check you are making at least $1 a day profit or more because otherwise with fees and power costs you may not be acurately recording your results and acutally are losing money.

Then you just have to hold your coins For at least a month maybe more. Do not sell now or if you do only do so if the price is ok.

If you are minging an alt coin and keeping the coin that should be ok but again you will have to wait it out a month. If you are converting to BTC to hold the BTC. Make sure you get it into a private wallet before 1st AUG, around 2 or 3 days before at the least.

If you have BTC you will want it in your private wallet 3 days before the 1st and at least 3-7 days after the split and do your research before you transfer it back. Over that period do not make any transfers in BTC.

This is pretty much all you can do. Even if you are minging and only getting a small profit. Your best chance is to HOLD that coin until 1st Aug has been and gone and the market recovers. It will recover!

This is pretty much true for anyone holding any alt coins too. Just hold I generally stick to one rule, never sell at a loss. The only time I ever sell at a loss is if I have been analysing the charts and I want to take a punt at shorting a coin (buying on the dip and hoping it goes back up by reading the charts). It is not a good time to do that right now. A few days ago maybe but by now everyone has realised it is going to get much much worse than it is today.

Ok some advice for specific miners.

Eth miners. You are hurting the most. And there is more hurt to come. Eth will likely drop below $160 USD and may even go further. If it reaches $160 in the next day or two expect it to go much further. Because your cards are generally optimised for Eth you dont have much choice but to ride it out and hope ETH recovers quickly and your mining efforts that you may have even taken at a loss will turn into a profit. But you have several risk factors. DAG file increase is coming as well as other changes to ETH mining which will further drop the price of mining . You may have to switch to something else like ETC (eth classic) or sell your gear while the prices are still good as there will be a dumping of gear very soon it is already starting. Do your own research as I don't know the dates but DAG file increase will start of have a major impact in the near future. And ETH mining will end eventually as they slowly phase in POS which ill eat into profits also and potentially eventually halt mining altogether.

Zec + assorted coin miners Keep doing what you are doing chase that coin that is giving you the best return and fall back on Zec when you have to. Keep making sure it is profitable. I think zec is likely in a slightly strong position then ETH but ETH will recover faster because those that didn't get a chance to get on the train before will want to get on it this time.

NiceHash miners and autoswitching miners Again similar advice to Zec. Keep doing what you are doing. If you are autoconverting to BTC, this is still a very good idea as it allows you chase the most profitable coin and buy whatever coins you want on the cheap. Invest in altcoins of your choice or move your BTC to private wallet before 1st AUG.

Advanced miners you guys don't need my advice. You are already chasing those coins that not many people know how to mine. Keep doing that and get your BTC off into a private wallet. You guys are in the best position and are still making awesome profits.

Which coin is safe?

Personally I don't think any coin is safe. All will fall. But I have heard people going on about LTC. I am not so sure really. It will fall but it is probably a safe place to put your BTC if you dont want to put it in a wallet. It is still going to fall but it will likely recover I just cant say by how much. I have heard lots of people talking about using LTC for transactions and buyign and selling coins etc while BTC is in that danger period so there could be an increase in demand.

PS its 4:30am and I have not proof read this I had a request to post something so I got it up fast. I hope its readable and I will fix it up tomorrow.