Any suggestion on where I should be allocating my mining profits ?
With my mining profits around $400 a month CAD, I am looking to the wonderful world of steem to help lead in the right direction.
I mined GBX for 2 months and hodl'ed all of it ( Jan to Feb) and it did this
I mined BWK and TZC in December and January- hodling all of it once again and they did this
Having spent the last fourth months running my rig full time, my new idea is to use the nicehash miner and sell my BTC to buy other cryptos - I am tired of trying to mine the next best thing, because it is simply not working out.
So with that being said, can anyone offer me a suggestions on what I should be buying ? And if Nicehash isn't the best route, what is the best way to allocate all of my hash power ?
After mining for 4 months, I have essentially made nothing. The only place where I made money - $300, was when I decided to mine XVG before it exploded to .10 - I sold all my XVG a few days ago.
I would suggest that you transfer your earnings only to cryptocurrency projects that have a working product. Leave behind the ICOs and non producing (no product) coins.
I would bet on BTS, STEEM and ETH.
Thanks for the advice. I am surely not going to do ICO's anymore. I am happy that TPAY just exploded today, but out of 5 ICO's in invested in, that was only one to pop. I guess EOS would be a good option as well seeing you are naming all of @dans projects lol. I owned 10k eos on their ico, I just wish I didn't have weak hands and sell so quickly
I'm actually not familiar with EOS. That is why I cannot recommend it.
BTS has a powerful and wide internal market for trading.
STEEM is a proven Network that is employing more and more products consistently. More activity on the network equals higher value in the future.
ETH I think will ultimately win as the dominant blockchain network against BTC.
I am pretty sure all these projects will be transferred to the EOS block chain once they have a working product. Well everything besides ETH. Bitshare, STEEM and EOS are all products of the same Larimer family . Father and son
Hehe nice one, you are on the same level with you mining as me currently :)
For me the future of cryptocurrency is definitely ETH. And i see BTC like a USD in current world it will be used for showing Ratio or for showing price of other cryptocurencies.
Cool cool. I just hope that whatever I do that the things I mine or buy from the proceeds at least hold their value through the end of the year. That way I can at least make my money back - without considering power costs lol