RE: Mining the CryptoNight coins with casual PC | 挖矿
Crypto Night, I named my club night after it!
That aside there are several things to keep in mind. The most important one to me is the long term outlook. If you are mining for short term profit you will lose money, unless you can get lucky and catch a bull run like I did last summer. However if you are looking to cash out in 1 year then mining is very attractive.
The next thing to think about is which coin to mine? Your image showed some coins I have never heard of and attractive stats, but if you mine a coin no one has ever heard of where will you cash it out when the time comes? Make sure you know what exchanges those coins are on otherwise you will be stuck holding a bag. Also, can you mine enough to move the coins and exchange them? Network fees and exchange limits are important to keep in mind.
Having said this, I think it is an incredibly valuable experience for people to mine, even if it's just on their PCs and for fun. It will give you a better understanding of crypto. Looking forward to your reports @fr3eze.
I would say CryptoNight is one of the coolest names I've heard in this space, but what it was designed to do is even more awesome!
Your points are absolutely solid and that is pretty much I'm planning to do. I mine and hold for long-term. I think I will study some projects and get those prospective on a long list, and mine accordingly one by one. So in the end, I will hold numerous bags of different coin say 1000 each maybe and never look at it anymore.
If one day one of them pop up on the top 100 list then I will take a look at it again and that would be my 'Jackpot' time. But if it does not happen, just take it as I used the electricity bill to get some garbage coins, no big deal.
Really appreciate your input here. Seems like you are quite experienced in CPU or CryptoNight mining? Definitely will keep updating the journey in CPU mining and hope to see more insightful input from you again @rt395!
CryptoNight is cool name isn't it.
You never know when one of these projects will take off. Even PnD's can send them up 10x.
I have a rig and have been mining for a while. I started out just on my PC for fun and experience, then I grabbed my first gpu and got sucked in. Unfortunately my rig is only 4gpus and something just blew in it, probably a stick of memory, so it's down for the time being. Debating on fixing it or selling it for parts.
Have fun mining. You will become part of an elite club by doing so, no matter how small the amount.
Oh man you blew the mining rig? That's really bad to hear. Guess you'd better fix it quickly and get the money printing machine running again.
Sounds like the wisdom words from a guru. I hope this 'mine and hold' tactic will get the there soon. Apparently you are in the club already, would love to hear more from you haha.