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Dogecoin is a fun, new and rapidly dogecoin form of digital currency. Profit the profit above says, I bought these with gaming in mind. Which is about 31, coins per dogecoin. When you mine a coin, you should sell it at market rate. My really last advice:
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Either you'll make less money than you would have investing, or you'll make 0 money and lose some money. If you thought you were going to lose, you wouldn't invest one way or the other. China-based exchange BTC38 also added their support on the Dogecoin exchange, boosting the market capitalization over 24 hours. Retrieved from " https: Dogecoin was initially to have a limit of billion coins, which would already have been far more coins than the top digital currencies were allowing.
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I never mentioned the value increasing over time. Dogecoin R9 will cost you aproximately USD. Except profit of us also game on the system and this just helps us offset the costs of upgrades. How to dogecoin started with Dogecoin. Unless you continue trading, but profit hinges on the ability to be able to make consistently good decisions about when to trade.
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Learn more about Doge Shiba Inu. The fun and friendly internet currency. Reddit Community Dogecoin Foundation. How to get started with Dogecoin. Get Started Now Once you're done, join in on the fun as part of our growing community! Online wallets are the quickest and easiest way to use Dogecoin, but lack the security of storing your wallet on your local computer. We recommend you only store a small amount of Dogecoin in an online wallet at any time.
There are several browser-based wallets available to choose from: These online wallets are not owned or maintained by Dogecoin or the Dogecoin Foundation. While we think the entities behind them are trustworthy - please use at your own risk. Dogecoin is a fun, new and rapidly growing form of digital currency. This form of digital currency is called "cryptocurrency"; a type of digital currency. Cryptocurrency is completely anonymous, decentralized, and extremely secure.
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From mining since mid December. PS, it still makes 10k doge a day too. In short, the only reason you made any money is because you mined something at a loss and it then went up in value. When you actually mined the coins they weren't worth money. If you can't separate the mining decision from the investing decision, you're gonna rationalize your way into thinking mining was the most profitable choice. There's some truth in that too, and it's another often-made argument.
My rig on the other hand could currently be sold for more than I paid for it, so my capital expenditure on fixed assets has actually appreciated! So yes, everything you said is true, but a mining rig holds its value and so far has always been able to produce at a rate that would pay it off in a couple of months.
I'm not saying "Buy a rig! It's possible to quantify this stuff. My point is that I rarely see honest, long term accounting of mining profitability. And the reason for that is unbelievably simple. It's the same reason that the guys who mined for gold didn't do the same thing. Because when you actually build a spreadsheet to look at the long term cost benefit analysis, the only way you win is if you build the technology, if you design the chips. If you do that, you get the hardware early enough to make serious returns reliably.
I simply genuinely don't believe that inefficiencies exist to the degree where you can make a reliable, proven profit. And If that's the case, if the overwhelming numbers indicate that mining at best breaks even most of the time, then it's no more a risky bet than investing. It just "feels" less risky cause you get hardware. I don't pay for my electricity and already have a video card, so I guess it's I can't go wrong.
I'm not even playing games on my PC right now, so I guess I should use it for something. Reading people's comments and your responses, it's like no one else but you gets basic economic principles.
We are wired to want certain things, and the modern economy teaches us that want and need are basically the same. I read somewhere that we don't treat purchasing decisions rationally, we handle them emotionally and then find a rational economic reason for them. That's essentially what you're seeing in the comments. The historical parallels to the gold rush mentality are really fascinating.
The point of the post is simply to lay out the dogiemining isn't exactly a slamdunk purely as an investment. As a hobby, it's great! Then again, so is a trip to Vegas. I also don't have a problem raining on the parade. If dogecoins are going to succeed it's not because of irrational optimism. It's because they have inherent value.
The only caveat I would add, is that there are a lot of us that are mining on our gaming rigs. The easy days of mining are long gone for dodge. I bought two r9 s shipped for at Newegg. I mine at khash and use w total power.
Like the comment above says, I bought these with gaming in mind. Also, one has as to take into consideration whether they think the value of Doge will increase over time.
If you believe that, investing in a mining only rig may not be dumb. Also, I've already made over 2k usd in Doge so I'm not worried about recovering the costs this was from a btc investment, not mining.
The question is how much could you make selling what you mined when you mined it. That's how you calculate return on investment. The rest is just you speculating with your mining returns. It's like saying you were fortunate to take a job in the united states right before the currency went up in value. I don't see how anything I just wrote is incompatible at all with your reply.
I also have no idea what "no you don't" is referring to. I'm not claiming success on my investment by telling you I bought my original coins. In fact, I was claiming the opposite, which is why I wrote that. As it stands now, at the current hash rate and market rate, including halving which should land around Feb 15, I should break even in about 2 months.
Though in fact I really don't care, since I knowingly and purposefully bought the cards for dual purpose. When you potentially invest in something as new and volatile as cryptocurrencies you have to speculate about the future value positive or negative , bottom line. If you have a hard time accepting that, perhaps mutual funds or bonds are a better investment vehicle for you. No, you don't have to take the value of the coin increasing over time into account.
In fact that's exactly what you shouldn't do. When you mine a coin, you should sell it at market rate. If you can't make a profit doing that, then you made a bad decision. If you think you can make money by holding a coin, you should just buy it with the money you would have used buying mining hardware.
You think you had a success because you bought something that gave you coins and then those coins went up in value. You'd have made more money just buying coins with the money you would have spent on hardware on the days when you received them from mining. I never mentioned the value increasing over time. I mentioned speculation, which could mean an increase, decrease or flatlining depending on factors which should be considered carefully by the individual making the investment.
My point here is that the market rate changes on a daily basis. Therefore, to understand whether you will make your ROI, you have to make an assumption speculate about the market rate. He uses the mining hardware to game If he buys the coins instead of the gpus than he has to buy gpus anyways to play games which would have an even greater initial cost. I still make money every second I'm mining, but not very much.
Not purchased for mining. That means more than LTC and Doge combined, at current hash rates. I was going to argue with this some more, but given that it's all speculation on both of our parts, that'd be pointless. My stance is that buying Doge versus buying a mining rig is more or less a tossup right now, with the odds slightly in favor of buying Doge. Which, wait, was exactly my point. Mining is always less profitable than investing unless you catch a wave and get an advancement in technology like ASICs that are underpriced relative to how much you'll generate.
First of all, your tone reflects that you are not realizing that I am not entirely arguing against you. I am just discussing, so please take it easy: Anyway, mining is not always less profitable.
If you had straight out bought Doge, you'd have lost the entirety of your investment. Mining is less profitable when the graph of Doge's value versus time is up and to the right, yes. But not if the value is flat or decreasing which is the answer to your question about why people sell ASICs -- BTC has been steady in the range for a while. So, yes, if you assume that Doge succeeds and of course it will -- to the moon!
But in the other scenarios, you are not. Unless you continue trading, but that hinges on the ability to be able to make consistently good decisions about when to trade. No, mining hardware is always less than or equally profitable. Either you'll make less money than you would have investing, or you'll make 0 money and lose some money.
If you think you're going to lose hundreds of dollars mining, don't invest that money in coins. Just buy the coins with the money you're not willing to lose. You mine random altcoin, which tanks. And if you built it from parts you would have paid less and done work to make it worth money so you would have made that money just by selling it, regardless of what you used it for.
If you thought you were going to lose, you wouldn't invest one way or the other. I'd also like to point out that you completely ignored the point about your projected difficulty constituting more of a hashrate than DOGE and LTC combined.
The work to assemble that is under an hour for someone who knows what they're doing, and a lot do. At the end of the day, if you bought the miner, you walk away having lost much less and actually made a few bucks reselling the miner you built from parts with a little luck.
As for your point about having made the money anyway, you would've made the money anyway, yes, but by building the miner and using it, you also get to partake in the opportunity that the altcoin offered in the first place. If you just built it and sold it, you wouldn't get to do that. So you have to compare multiple steps. The money you make off building the hardware and selling it to someone else. The money you'd make if you'd bought the hardware and mined it and sold the alt-coin when you mined it.
The money you'd make if you bought the alt-coin on the days you were awarded it in the amounts you were awarded it. Today it's basically GHs. If Dogecoin stays profitable more people will mine it, which means higher difficulty.
Mining is most definitely still profitable if done well. No, it's not 'free money' but it's the least risky form of investing in doge. The R9 will cost you aproximately USD. It draws around w.
The whole point of block halving and difficulty adjustments is they reflect how popular the crypto is. Doge has gone up in difficulty but the price has increased to a near identical level. No this will not continue forever but the fact that at current rates, most cards will pay for themselves in about 40 days more accurate estimate would be around 80 days given difficulty increases and price fluctuations , that's still a REALLY strong ROI.
The reason I don't believe you is that you're not separating the value of mining the coin from the investing value of keeping the coin. Mining makes you a certain amount of money when it happens. Being smart in deciding which coin to purchase with your mining profits is a whole different ball game. If you are a miner your risk very low as you exchange mined coins instantly. Dig different most profitable coins and exchange them almost instantly.