You are viewing a single comment's thread from:
RE: Genesis Miners Unite!
I got into mining as an experiment to see how it'd work out. I know now that (even if Genesis catches up with my payments) I will not get my investment back. So I will not put any more money in mining.
See my results.
The second reason why I got in (or rather partly re-invested) was that I wanted some ETH but I thought the price was way too high. Mining provided an alternative way to get ETH.
Actually, getting involved in something - in a very small, low-risk way - is a perfect thing to do. You get a ROI simply from your own learning-curve and experiences. That usually costs thou$and$ in college or a real life experience - but mining can be great for learning the tech, the software, and the ins-and-outs of trading/buying crptos. That's worth a couple thousand, IMHO. If you're able to do it for less than that - so much the better.
Take my own experience with SteemIt. I was given 10 Steem to start out. Along the way, I invested $50 and a couple of hours a day, for about the last 3 months. I gave away 12.5 SBDs, to pass on my initial gift - and today my account is valued around $190. I'd have wasted that same $50 on games or social media someplace else, anyhow - so I really didn't invest anything I can't afford to lose. The last step here for me will be to power down, cash out some of it, and go buy & hold physical silver bullion. It's a small step, a small process - with some constructive income - if it ends up all working out like it should. That still remains to be seen. If it works - I'll repeat the process again, with a larger investment, and see how well that one turns out. I figure, if I take some small profits along the way - what have I got to lose? If either silver or cryptos go to the moon - or both of them - either way I'll be sitting pretty at some point in the future. Unless, of course, I get hit by a meteor.