I have a situation similar, in crypto since 2016, I had 1240 ethers in my account, the exchange btc-e then wex, those who are old-timers will understand.
Jason Born
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Hello everyone, I've been in crypto since 2017, and it hasn't led to anything, I want to share my opinion, maybe it will be useful to someone. A friend told me about crypto, more precisely about mining. Ether was then $8 and Bitcoin was $1250. Binance didn't exist yet, there was Poloniex, and to transfer money there to buy crypto, you had to first transfer money from a card to Paeer, and then from there to Poloniex, the commission was 20%, and if you withdrew back, another 20%, p2p wasn’t there then either))) Can you imagine, he says, there’s this thing, you buy graphics cards, they mine crypto, you sell the crypto and make money from it! My eyes lit up. After googling this whole thing, I decided to jump on this train. I was unemployed, and naturally had no money. I borrowed about $400 from my mother, which was enough to buy a motherboard, processor, power supply, and one graphics card, I don't remember which one exactly, but not the best one, of course. Things heated up. It became clear that the more GPUs, the more output. I went to work on a rotation to earn money. I worked for 3 months, during which time I bought another 3 GPUs. While I was working, my friend was watching over the farm. During this time, Bitcoin rose to $5800, the profit went up to $4 per day with one GPU, before it was $2 per day. This lasted a few days, and then the profit started to drop. We decided not to change the crypto at a low rate, just to accumulate crypto. We chose the most profitable algorithm, I remember we were mining Stellar XLM, Ether was still around, and something else. I went to the second rotation, increased the number of GPUs to 8. There were already two farms, red and green. The GPUs were RX 570 and 580. The profit dropped to $0.50 per day with one GPU. A lot was invested, $4-5 thousand. The output was negligible. We were withdrawing $50-100 a month for each of us and left a little crypto just in case of a rise. Problems started with work, debts piled up, and I decided to sell everything. By that time, the GPUs had fallen in price by 4 times from what I had bought them for. Debts needed to be paid off, and I decided to sell all the farms. Naturally, I sold them for pennies. We exchanged the crypto for dollars and withdrew it too. It was just pocket change. Later, my friend calculated how much we had mined in total over time, and said that in total we mined 0.4 bitcoins. But we sold everything for pennies and didn't really feel it at that time.
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