Mining noob question

[Helpful Tech Witch]

Just now, MrBigD1409 said:

ok i will mine etherium then if its more viable thats why i was asking cause i dont know xD, i just wanna mine something in the meanwhile not making a living out of it xD

eth will be much more progfitable, and will not be loosing you monet (not propfitable in a large way, mut not yopu in the negative

 

[tikker]

8 minutes ago, BuckGup said:

I agree ^^^ honestly I only trust Monero, Ethereum, Bitcoin, and Litecoin. 

Indeed. There are some nice alts out there, but when it comes to "stability" I only trust Bitcoin and Ethereum.

8 minutes ago, MrBigD1409 said:

like i said i dont care if they are memes or what im not a full time miner checking everything like electricity or running at full capacity 24h i am a a guy that sits at home for fun playing sometimes watching series and in the background i want to mine something and stock them for the future nothing else im not making a living out of mining xD

That's fine and all, but if you stock them for the future the intent sort of is that they'll be worth something more than it has cost you to obtain them now... It's fine to mine at a loss if you're convinced a coin will go up and you will make up for those losses, but what you are doing right now is buying $100 bills for $150 with a solid chance of them being worth $50 in the future. At the very least what you should do is figure out what electricity costs you, and how much you are making. Keep in mind that anything you mine at a loss now will need to be recouped with a future price increase.

 

Look a little bit into what the coins is you want to mine and also realise that coin price says nothing. A coin that is now $100 could be worth $1000 next year, while your bag of 1 M $0.0003 coins will be worth $0.0000003 by that time.

 

[artuc]

If you're keeping it casual, just use nicehash, you'll be paid in BTC.

 

If you want to then put that into another coin, get an exchange account. Withdraw from nicehash to there and do what you want from there.

 

Bit convulated but I convert to XLM on nicehash due to quick and cheap withdrawls with low minimums (also a fan of XLM) and I take out once it hits 10USDT worth as that is the minimum for trades on what I'm using.

 

BTC and ETH can be costly and slow to move small amounts around.

 

You are currently wasting your own time and money with your current method.

 

To put it in perspective I am getting the equivalent of 25 BTT daily passively from staking some of my PoS coins and we're only talking part of a few hundy of mostly mining profits and I'm just using a 1660S.