This month, it’s time to say goodbye to Ethereum mining. But before I do, I wanted to take a moment to reflect on my journey—the good, the bad, and everything in between.
At first, it seems so easy.
Mining is easy, right? Just buy a miner and plug it in. Or, if you’re feeling ambitious, run it on your laptop. Heck, all you really need to do is click “I agree” on some terms and conditions—it seems like nothing could be simpler than that!
But don’t be fooled by this apparent simplicity: there are many factors that can affect your mining profits and make it more complicated than you expect.
The next day, you realize—it’s not so easy.
The next day, you realize—it’s not so easy. You’ve been up half the night before, trying to figure out what went wrong. But after a few hours of sleep and some coffee, it doesn’t seem so bad. You’ll just give it another go!
So you get back into the swing of things, but this time around something seems different: with each fix you make to a rig you make an error or two that sets you back even further than before. More double-checking and triple-checking is required for any decision you make—and still more checking after that when nothing seems to work out quite right. After all these accumulated errors lead to more losses than gains, even your initial enthusiasm begins to fade away as doubt creeps in about whether or not this is really worth it at all…
You begin to feel more confident and excited about the future.
You are excited about your new life, but you also know that there will be challenges ahead. You have learned a lot from this experience, and you are ready to apply those lessons going forward in your life.
Have I just ripped myself off? My mind goes in a million directions.
You agreed with a co-worker on building a rig for them and now you’re sitting on a pile of money. You can almost smell the cash in your hands. The problem is, this isn’t real life, it’s just a game. And while all games are supposed to be fun, spending all day trading and mining virtual coins can feel like work more than anything else.
This is when it’s time to take stock of what you have and decide whether or not it’s worth it for you to continue playing this game. If not, stop playing now and don’t look back!
Looking for an easy way out? Stop reading this article immediately!
But if you’re still game, then let’s take a look at some of the reasons why you might want to keep playing.
You can’t be a nice guy all the time
Remember, you can’t be a nice guy all the time. You must play hardball at times and say no. You can’t pay top dollars to entice people to invest, although it is possible what you are proposing but not taking in all the issues you can have with mining rigs. That will just ruin your life if you do that because most of them won’t appreciate what you did for them, and they’ll take advantage of your generosity. At the end of the day, you are trying to make money and not lose all your money to your investors.
On top of that, when it comes to family and friends, they don’t always deserve what we give them or even want it! Sometimes they’re just being lazy because they don’t want to work hard enough on their own behalf so they ask us for things instead of trying harder themselves.. This can be a problem too because those people end up taking advantage of us when our guard is down due in part because these people know we’ll always bail them out when things go wrong (which means there’s no incentive for change).
Running a mining operation isn’t as easy as we thought it would be at first. Our operation was in jeopardy of shutting down due to electricity bills being too high for our budget.
We’re not alone either; other miners are facing the same problem, and some of them are considering closing their mining rigs altogether or moving out of state because they can’t afford the electricity bill anymore!
What we did to fix this problem was to investigate what else we could do with our mining rig. We discovered that we could use it to mine for other cryptocurrencies, like Ravencoin and Zcash, which don’t require as much electricity as Bitcoin does.
It’s time for me to say goodbye to Ethereum mining…what to mine next?
Despite the good times, it’s time for me to say goodbye to Ethereum mining. It’s been a great run and I’ve learned a lot about cryptocurrencies in general—not just Ethereum.
I’ll be honest; this decision was tough to make because I love being involved with blockchain technology. However, it also means my crypto mining career will take a backseat while I focus on other things like this website! We will continue to mine more crypto currencies moving forward.
The next big thing? Well…that remains to be seen!
So, there you have it. We’ve taken a look at some of the highs and lows of this adventure. All in all, I would say that we are all a bit disappointed but also excited for what’s next.