Prohashing Mining Pool Forums

The advice from Maxumark works only if the Coin raise without huge Difficulty jumps. But is not false, you can take his advice as orientation.

Every Miner have to research self and choise on own research results the coins. If you dont want to research, then is mining the wrong way.

For me, think sell 50% on fiat (until i get ROI) and hold 50% (25% LTC 25% BTC). After ROI, sell 25% on fiat and hold 75 % (50%BTC 25%LTC 25%GAME). what do you think ?

I think, that every miner have to be up-to-date. BTC and LTC are in bitmain hands... can be good, because they support there... but can be the hell if people realize, that bitmain have the power to bring this currencies to fall with an exit-sell or own 51% attack or something... Its not good that one company have the biggest part of hashing power and can controll how much and to which people the ASIC miner will be sell and when will be produced the next generation.

You unterstand my crap english?


But one thing i can you say: if someone give you an advice and say "it will be 100% works and you get rich" than be aware. I dont mean that this person will lie to you, but nobody can see in the future... and the past years cant been taking for approximating the future...

fugju wrote: But one thing i can you say: if someone give you an advice and say "it will be 100% works and you get rich" than be aware. I dont mean that this person will lie to you, but nobody can see in the future... and the past years cant been taking for approximating the future...

Good advice, bro!

Maxumark wrote:I would say take 50% in top shelf coins. BTC, BCH, LTC, BCC Then 25% mid range .25 to $10.00 coins that look stable and that you have looked into what they are about and can see some value in. Like PIVX, LISK, GAME. Then the last 25% in D2G (dust to golds) that you can get a lot (thousands or millions) of that have some potential for going exponentially higher in value, with greater risk of course. Like DGB, ABY, DOGE, XVG.

*And this is the most important part*
DO NOT TRADE ANY OF THESE COINS YOU MINE FOR FIAT.
HODL all the coins you mine for 6 months.
If you borrowed the money to purchase the miner and need the miner to pay for its power use, then cash out just enough each month to make the minimum payment and cover the power expense.
Then at the end of 6 months you will likely find that if you gained as much or more value on appreciation of the coins you are holding that the miner made over the 6 months. At that point in time you can either cash out some of the coin to pay your self back or pay off the borrowed money, or just start taking a larger payout lets say 1/6th of the miner original cost to then have the miner paid off in a total of 12 months.

You can thank me later.

Good stuff man!

Well I was stuck with the same question as you, especially since it's actually fairly easy to resell them for a fat profit which means that if you're looking for immediate gains, that's basically the best option. But if you want a stable long term return (excluding hardware failure obviously) then there's more or less two options, those depend almost entirely on pay-out choice however. Some basic research says (the more you do the better, I was convinced faster than I should have probably) that an l3+ will stay profitable for a long time, so just running it will probably net you a good return, but not fast (6-12 months for return is my guess), *but any and all predictions are pure speculation*. So accepting this, the question is how much risk you want to take. You can pick multiple coins or a single coin based purely on speculation (or product knowledge if you really get into it, but you'd have to be very tech familliar to truly understand it, I know I don't) or you can do what professionals do with stocks. Find coins that are negatively correlated with eachother, so if one goes up the other goes down. This way you split your payouts in those coins until you reach an acceptable level of risk (technically there's an optimal level, but you can look that up yourself). There are models and such to approximate every variable, but that's a bit much to write down. Other than that, there's tons of good practical advice here so you should be set.

You asked ROI so I will answer with an ROI statement:

The fastest way to get an ROI in the miners is.... to sell the miners. Generally, what you paid for the miner can be sold for 1.5-2x on the market. Now, you are not "mining" but you are getting a very nice ROI.

With that money you can either buy more miners and repeat step 1 or you can buy in the percentages Maxumark suggested above.... but in 50% to 2X volume.

Hi,

I just wanted to drop my few lines to give you a ideal.

This is how I mine and you might find it interesting.

1st - buy your miners from the source, not ebay or amazon.
They are way to overpriced.

Get the best price from the source with a real warranty.
Sometimes the warranties will no go to the new owner.

If you borrow the money, then treat it like a business.
Figure out the payment to completely pay of the miner before the warranty is over.
If it cost $1800 with 6 month warranty - then you have 6 months to payout.
$300 per month

Now pay for your expenses.
The electric bill - can Cost you a extra $100 or more per month

Then you monthly cost is $400 $300 miner payment + $100 electric payment = $400

If you make $1200 - $400 cost = net profit of $800

Now invest this money into coins and leave them alone for 10 years.

Here is how I mine.
I mine just enough into my account in litecoins or bitcoins to make the monthly payment
and exchange everything else into other coins.

That is exactly the reason prohashing is such a great place to mine - easy to exchange into other coins.
When you use a coin exchange - To start its a 20% exchange cost plus then bidding on coins you might not get -
I might pull all my hair out awaiting.

For instance - the first week mine litecoins or bitcoins only, just enough to pay the monthly payment cost.

For the last 3 weeks invest into other coins that look good from using prohashing easy exchange options.
Here is a link to use for coin prices.

https://coinmarketcap.com/all/views/all/

Now it takes Great Heart to Make The Next Step:

Pretend the coins are not there - don't think about about them - don't use the coins - keep them hidden.
Don't use them ever - leave them alone - don't even think about it. Don't tell anyone.

Wait 10 years or longer, then cash them out. Buy yourself a new house or something worth it in 10 to 20 years.

Mining is a investment like a retirement.

When you cash out the coins - you will only spend the money quickly - so save for a rainy day.

SaveIt wrote:If you borrow the money, then treat it like a business.

This to me is the first mistake anyone can make and it is REALLY REALLY easy to avoid.
DO NOT borrow money to invest.
Never invest anything you have that you would be afraid to lose completely.

If you BORROWED money to get into mining, I think you already failed at it.
Just my outlook on it.

Right - I did not invest - I bought miner from the source - no payments.