The best way to Invest In Crypto! - Miners ⛏️ AWARE! 💰

in #crypto7 years ago (edited)

My life lately has been quite busy, therefore the number of posts has drastically reduced, but I hope the content has not. Which is my main objective every time I write...

Today I have done some more investments and "mined" a bit more of what I call, my new discoveries (highly encrypted private investing).
Yes this is me just teasing you...😆

Anyway...

How to best invest in Crypto?

Many do it via multiple ways, of which I do not wish to extend myself into because for me, it's quite simple!

I have a life... therefore time is not infinite... so, how do I invest? My 7 recipe/idealist principles to choose crypto (independent to my knowledge):

  1. Let's call "Investment" to what you can basically throw away from your values, that you do not necessarily need to survive.
  2. Also, let's call that you only "Invest" when you feel something matters to you for a medium to long term period (6 months min).
  3. Buy hardware to mine whatever you mind feels attracted, and you will get a good feeling after a few days.
  4. How do I know the best software to mine? - This topic is worth another post... but maybe you can get faster information from google. If you are lazy and impatient like me...
  5. Mine stuff meanless to you sometimes... it will achieve two things: learn new things you commonly do not find anywhere if you ONLY try being SMART and it will give you some kind of chance for a lottery in case there is someone on that project that really wants to give it a BIG go!
  6. Mine because you want to learn and not because you want to profit! Why? I have learned that the profit from learning, is much higher than trying to industrialize whatever scheme you might have to generate profit from mining.
  7. What to do with your mining? The very beginning reason is to not sell, but instead to learn what evolutions you feel along the process. What made you choose that, and why is that still attractive or not.

OK, I know now, what hardware!

This topic is also hard to put clear... there are dozens of algos already, and most of them differ on system performance. So what do you should buy to get you started?

My usual plan... is (considering the topics above):

  • I buy hardware because I need it for other stuff besides crypto and mining in general...
  • When I buy GPU-CPU hardware I think about when I would be (if so) willing to sell it and for how much. Not that it matters much for crypto, but it matters if you trying to choose how recent the hardware you want to buy.
  • Buy to have fun, not for profit. If you wanna go the profit way, forget it... there are already services providers out there, 10 times cheaper than whatever you can do with free electricity!
  • Have fun with hardware if you can... I may be biased, but for me, electronics are to be challenged and improved... you may do overclocking, extreme air cooling, or wicked water cooling... all good reasons to play with your hardware and learn some extra stuff.
  • If you can't afford to run it 24-7, don't even think about buying... renting is the solution for you.
  • Internet connections cost... but they can be very profitable as well! Buy a good router! I am selling a good one! I accept any crypto...

Examples... (again.. EXAMPLES!!!)

I have not invested much, to be honest... it's basically gambling lately, and learning... but if I would have decided to do it, I would do something like this (this is based on what I have experience with as an HPC Systems Engineer and previous hobbies):

  • Motherboard: Something like this... http://www.guru3d.com/news-story/asus-demos-b250-mining-expert-motherboard-with-19-pci-e-slots.html
  • CPU: cores cores... the rest is useless... whatever you can afford! But at least 6 cores (12 logical ones with HT). New AMD CPUs might also be good here for smaler configurations.
  • Memory... no much required if you running Linux. But still, if you wanna run multiple stuff and do some trials, get a decent amount for the two slots.
  • Power Supply's: I know many may argue this one is just simple... but for me, PSU's are the only thing you want to think about support. They will potentially break or decrease efficiency... and you need something like... 24/7! So choose something that can allocate all the 12V rail... and then think about the best split solution for your setup. But first support and guarantee! Mining is only possible due to PSU... so have even a second spare one if you do multiple systems.
  • Disk: If you wanna run full wallets too, please think about 1 NVMe device (2x if you do not have backups). SSDs are good too, but less efficient. Otherwise, if you do not run wallets, just do simple rotational disk IO (normally used scheduling tasks or logs).
  • GPUs: Finally the last one... but the hardest to explain... It depends on several factors like, what you fancy, the operating system, the cooling solution you are selecting, power limits, etc. There is room for another post just to explain this. Anyways, if you want more let me know. Otherwise, all you need to know, is that the more recent you buy, the longer it will last... but buy always in second hand... this also applies to cars! =)

My exclusive water cooling solution!

No one in the world has one... and this is just the beginning of a 10-year experiment... running 24/7 since 2016 (zero maintenance until now)!




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RESTEEM if you wish to show others what you have learned... and,
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This post needs more eyes on it. Quality content for steemit!

Tbh only buy Cyptos that can change the world or has a better service.
Way to many fake coins or projects that don't get passed day 1.. do research :)

I keep thinking that the ecosystem has a purpose, but I understand what you mean. Especially the "do your own Research" bit.

Dont you worry ,the quality of the content is great.. And nice innovation you got there

Thanks for the feedback.