Well further to my last post I thought I’d make a post about what I’m doing to keep going through the bear market and to keep paying the electric bills, while also keeping an open mind with some speculative mining, some miners will hate me for this as they see it as everyone’s own responsibility to do your own research (DYOR) and that we should all keep things up our sleeves to avoid rising difficulties, in a way I agree we shouldn’t spoon feed the lazy asking what to buy or what they should mine, however I also feel that if we all helped each other move forward we’d all be more successful in the long run so the benefit will average out over time.
My first coin is my go to coin for mining these days, I’ve been mining this for months now, some people come and go chasing low diff’s and some have just gone, threes been some diff issues lately but they’ve recently been solved via a fork (DGW) so we’re all good again now and with a clever well delivered solution (check out DWG), even though all this I’ve stuck with it for the fact that I believe in the project and of course because It pays those pesky electric bills if your into that, I try to use my main job income for bills and just hold all my coins wherever possible especially in this case as I really like possibilitys and speculatively believe it has room to 10x or even more in the next 12 months,
The coin is Ravencoin!
Raven is one of the few coins I mine and actually purchase as well, I try to buy all the dips I really do like it that much, Now I know what you’re thinking everyone knows about this and It’s not that profitable anymore but that’s not necessarily the case, most on the ball miners will know this but the key thing to learn here for those that don’t know is Whattomine which is to many peoples bible for what to mine (no pun intended) should only be used as a guide, most of the profitable coins quickly become not profitable when they hit this site as the diff shoots up with all the noob miners jumping on, and the key is to find coins before they hit this site as that’s where most of the profit is made, most importantly they don’t always get the hashrate right, in the case of raven it’s almost 50% out to the negative so the profit it shows is only half of what you can get mining Raven, to get this right you need to research the latest miners available, now this isn’t a tuitional so I won’t go into that to much but what I can say is there are many versions of miners available you will find them from a google search or just check the pool miners tab and see what the majority is using they all have the fast one and some are way better than others like way way better, there is however a catch and this is why I wont mention program names as I don’t want to be responsible should you get hacked (which you probably wont), some of the best miners are centralised which in a space focusing on decentralisation is controversial, what you need to decide is do you want the massive hashrate gains at the cost of centralisation, looking at the percentage of people using this software vs the people who aren’t It’s clear that most people are prepared to take this sacrifice for the benefit of profit and remaining competitive, others however are screaming irony and boycotting the software claiming it will hack your rigs etc etc, me personally I don’t really agree with it being centralised but I’m using it, the obvious reason for them doing this is locking you out from removing the dev fee’s and keeping their niche, so can you blame them for doing this? Not really they made the effort to make it and they also have a living to make!
Now I feel like I should tell you something about Raven and why you should mine it or invest but I won’t, there’s other guys in this space who do this already and reviewing is their bag, I’m sure you know who they are and reviewing coins and blogging about them is their thing, their better at it than me and I’m happy to leave them to it as I also keep up with their content, so google Ravencoin or Facebook it and watch their reviews I’m just trying to let you know about shortfalls in some tools and benefits in others, you can also check out Ravens whitepaper yourself https://ravencoin.org/whitepaper/ It’s a good read and I highly recommend you check it out, the community is huge which is always a plus and Raven has big things coming which is all I’ll say apart from DYOR!
The next coin I’m mining probably isn’t even on your mining radar yet, this is a coin that some of you will know from Way back and gave up on long ago,
The Coin is Safex Cash, not to be confused with Safex exchange coin which still exists and serves a different purpose, Safex has just launched their new blockchain and Safex cash is their platform ready token on the newly launched Safex blockchain, Safex cash will be the currency on the marketplace soon to be launched and I quote from Safeex themselves that……. Safex is a decentralized marketplace that for the first time in history shifts paradigm of trade towards cryptocurrency and blockchain commerce.
People can now become a part of the emerging global marketplace that rewards crypto assets and allows for a secure enclave where people can buy and sell goods and services in exchange for decentralised cryptocurrency.
Basically there are now 2 Safex coins, the original going back to the ICO that was used for funding for the project, which will still exist and be used for creating new accounts and you can stake this and earn dividends, and now the new mineable coin Safex cash which will be the currency of the new platform, using the CryptoNight algorithm, they have some clever stuff going on here with a nifty emission curve for coin supply deployment and block reward reduction which should help maintain a stong market price, again I’m not going into this too much check out the blue paper https://safex.io/SafexBluePaperJan3.pdf again well worth a read, the community is not like Ravencoin, and for this project I don’t get the same amount of wow factor, but I like the Dev’s their active in the discord and they talk sense, the project used to have a lot of hype and some of you may even still be holding, IMO I believe this could make some nice gains in the future but I must stress for me this is a gamble, currently there is no way to sell Safex cash once you’ve mined it, no OTC, no exchanges, this along with some woolly timelines as well as exchanges de-listing the existing Safex coin for multiple quoted reasons mainly It’s a security as they mentioned the dividend word but again DYOR, the red flags for me were not enough to stop me getting some early bags full, the miner count is still low 100’s which for me is the time to mine speculatively rather than FOMO in later with the masses, fighting low rewards and high difficulties, one thing I must add here is it’s still hard to mine, there is no windows wallet and to mine you need an address, for windows miners like me this is a headache, I had to compile my own wallet using Ubuntu from scratch it was a headache and took hours, now they have a pre compiled version and it’s slightly easier but you still have to run the blockchain and launch the wallet in Ubuntu, so if you’re not that techy at all don’t bother until they have a windows wallet, I doubt this will be long but be warned this might be the only reason the miner count is low, bringing out the windows wallet might bring 1000’s of miners!
If you have any questions for me on the above leave a comment, maybe you think I’m mining junk and have something better, if so why not share your opinion, I’ve got my eyes on a few others and will share in due course, haters not welcome so don’t bother!
I know my posts are a bit shi**y but give me a follow and a vote, I’m trying to get better and you might miss something if you don’t ;)!!