Surprised to see your buying doge! - I mined millions of dogecoin back in the day and cashed into BTC before it crashed. It's a dead coin IMHO.
No no, I'm not mining doge because I'm not in a merged pool with my own ASIC miners.
I intend to trade for some through an exchange later and monitor its performance.
I'd rather hold some doge then no doge, there's name recognition due to media coverage (the story fits an internet of things notion) and it can still fluctuate in value enough to make it worth while having some holdings. Right now Doge is 27th ranked altcoin on coinbase and it's is heavily affected by BTC and possibly LTC value, but it is showing movement
When evaluating coins so far, I usually don't give two shits about opinion articles. Because opinions are what sway confidence levels in people and people typically act on fear or greed... overvaluing or undervaluing assets. The problem then is determining true value as a baseline for decision making. For trying to come to that conclusion I look at numbers, data, and any facts I can find which can indicate an idea of true value. What are people trading it at, how many wallets hold the top amount in the currency (for example Electroneum IIRC has a SURPRISINGLY low number of decent amount wallet holders which imo could make the coin very weak), what is the potential for cryptocurrency and specifically for this altcoin, how difficult is it to use the altcoin and maintain/secure your wallet, is there big security risks in maintaining the altcoin's health, is it being undervalued or overvalued, etc etc.. lots of questions to look into.
I'm not an expert, I'll try to become an expert over the next 5 to 10 years if not sooner.
My point is... I think Dogecoin is worth having some holdings in based on the fact that's it's still trading and showing some movement.
Mining Doge however, I've been reading about some serious roadblocks due to what's called merged mining with LTC, with massive ASIC pools.
My thoughts about mining, when wanting to get diversified holdings like myself..
it's better to mine whatever produces you the most value/profit in any moment and trade for diversified holdings when you have an advantage as opposed to mining a bunch of coins just for diversified holdings sake.
I mine whatever is most profitable to mine every half hour unless I see something that Awesome Miner is missing.. which is often.
For example, there was a huge Zclassic exclusive mining potential where Zclassic was way up and BTC and BTG were down before the new year. So I mined the crap out of Zclassic and traded those coins into BTC and BTG until Zclassic profitability dropped.
That's how I made $39.89 on Jan1st after transactions cleared.
By the numbers.. I should only be making a max of $12 to $15 or so a day if I do what everyone else does (and some days I do)... which is let miners sit on one coin or just let algo profit switching do it's thing 24/7. The algo profit switching does help a ton.. but if you want to push it to the max, it takes monitoring what's happening in the market constantly.
Anyway.. that's my experience/thoughts so far.
Anyone feel free to chime in, share your experience.
If I'm wrong on some points, do share why you think so.
