Cash In On The Bitcoin Boom With This Cryptocurrency Crash Course
The following list of cryptocurrencies are being compared to Bitcoin mining to determine if a cryptocurrency is more profitable to mine than mining Bitcoin. While the case for bitcoin may sound very bullish when you’re just looking at recent returns, there are potentially very large downside risks to investing in bitcoin – and, in this sense, bitcoin’s very nature makes it quite challenging bitcoin to compare it to stocks in an apples-to-apples way.
I’m sure some miners bought them as well, in hopes of new mining software offering substantially higher hashrates (perhaps for other hashing algorithms like Equihash), but initial supply of Vega cards was never going to satisfy the market demand, with or without miners.
According to Banco Original’s Stocco, 2016 has seen a plethora of tried and tested – and failed – experiments and new offerings by startups within the blockchain and cryptocurrency space, as well as many financial institutions dipping their toes in the water.
For instance, if you see bitcoin primarily as a way to simplify making international transactions and cut out inefficiencies there, you might look to see what the overall market size is for a solution that might solve that problem and capture that market.
Even if you do get yourself a rig set up and find a currency with a bit of a profit margin, you’re still putting yourself at the whims of the cryptocurrency markets — mining can start or stop becoming profitably depending on a currency’s current value.