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RE: My Electroneum Journey Thus Far
Why you should NOT get into cryptocurrency mining: https://steemit.com/mining/@walczakit/why-you-should-not-get-into-cryptocurrency-mining
Why you should NOT get into cryptocurrency mining: https://steemit.com/mining/@walczakit/why-you-should-not-get-into-cryptocurrency-mining
The biggest reason that I have a miner is I installed solar on my house, and I generate way more than I use. So electricity is a non issue for me. I did not install the solar for miners.
There is absolutely opportunity to make money if you pay attention to the markets and what your miner is doing though. I was mining ethereum with two 580's. I was making about 90 dollars profit a month. If electricity was a concern it would be about 60 dollars. The rig cost less than 1000 dollars. So there is a return on investment coming up.
Instead of worrying about cashing out though I would likely save up and buy more GPU. (Though the current plan was to save up and dump into steem, but electroneum stopped that for now).
If you are not willing to check throughout the day on the health of your miner and pool. The price and value of what you are mining, and what may be the most profitable then yeah dont get into mining. If you are willing to do those things, and look for windfalls on new coins like this, then absolutely get into mining.
Honestly we need more people who are on the fence about crypto to step up and start participating and mining to make it more mainstream. So I think it is best to show people how they could make money, while pointing out the risks (my burnt up PSU for example. )