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I'm very suspicious of the prices for some of these more exotic coins. If you mine something like Golem or Pepe Cash with no name recognition, how do you find a
by kpeterson 9y ago
I'm very suspicious of the prices for some of these more exotic coins. If you mine something like Golem or Pepe Cash with no name recognition, how do you find a seller? The big exchanges don't sell them and finding a buyer yourself is very time consuming. Seems like you're likely to end up with a lot of cryptocurrency you cannot find a buyer for and a lot of wasted electricity.
- aarreedd 9y agoYou could trade it on shapeshift.io for Bitcoin and sell those.
- bpicolo 9y agoShapeshift still requires a buyer on the other end, though I'm not entirely in agreement with the op. Seems like most relevant coins have some real volume
- aarreedd 9y agoI am just pointing out that you do not need to go "find a buyer yourself" like op suggested. I agree there is a lot to be suspicious about with new coins/tokens.
- ringaroundthetx 9y agoYou look for where the markets are? Were you speaking in hyperbole? I don't even think you can mine any of your examples but lets entertain it: Golem has $3,000,000 in daily volume and is listed on 17 distinct exchanges (separate sources of liquidity, some of which are on the same website) Pepecash as upwards of $40,000 in daily volume and is listed on 4 exchanges. You are going to be making pennies to maybe a few thousand dollars daily from mining and you think there is a liquidity problem that is even applicable to your low-income class?
- Grangar 9y agohttps://coinmarketcap.com/assets/pepe-cash/#markets https://coinmarketcap.com/assets/pepe-cash/#markets Volume is low, but at garden variety mining scale you can easily sell.
- hackinthebochs 9y agoHold them until the price goes up. That's where the real profit is.