RE: My First Steps in Mining Crypto
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Maybe all this looks a bit ridiculous, childish, or awkward, but all this made a big difference in my life... And it was a helluva crypto adventure that still lasts!
Perhaps there has to be a part two to this story, you know: how the mining lasted, why you stopped, was is a successful experimentation, and what you could have made done differently?
I don't think it was a childish act, I think you actually wanted to be the first or the alpha pioneers and had great intentions to build something for your self, and you choose mining rather than maybe buying the eth from the market.
You also invested time in the calculations and mining details, and believe me, all that was some great efforts.
It's good to read. I've heard you saying you mined eth, but I didn't have the details until now.
I didn't plan to do the second part of the story, but I can do it here in the comments... :)
Mining lasted until ETH switched to POS, and it was very successful from my point of view... What could I have done differently? Probably mingle less into shitcoins and focus on even more mining, going more in at the first step, but that was impossible... as I didn't have more capital to invest...
This was more the question of profitability... I mined a lot more than I could buy from the markets... It was VERY profitable at the beginning... As I reinvested funds in more GPUs, I could grow earnings too... That wouldn't be possible if I were just buying from the market... without trading...
And if I traded, I would probably lose everything... 😂
Thanks for the summary, I quickly forgot that Eth at some point switched to POS and all that. I didn't ask whether you made profit because I was thinking you didn't really make that much profit like you'd wanted.
I agree that you'd have probably lost more, if you choose to buy from the market especially with the money you invested into the mining equipments and all that..