Title is a bit misleading. It had nothing to do with mining but the coin that I was mining turn out to be a scam. How lucky am I to have been mining an almost worthless coin?
The coin I am talking about is Sumokoin. I had be mining it on my computer since late last year and hold a small sum of sumokoin. I neglected to see updates on the coin and recently found out that the coin is no longer traded on cryptopia. The coin had a peak value of $10 but has since dropped to $0.10. That may even be an optimistic number since sumokoin is rarely traded on tradeorge.
So my bad for mining a coin that seems to have lost its developers and a lot of followers. I guess one of the reasons I lost track of this is because I focus too much on other cryptos. This is another reason why during down turns I need to do some consolidation. My current investment into steem is not faring well, but most altcoins have been struggling lately. Except for dogecoin. Ironically I had thought the coin would not be worth much but now is one of the best performing top market cap coin. I think dogecoin is trending up because it is a cheap and fast coin to transfer. Also it is not difficult to mine and it recently has new developments.
So not only did I waste electricity on something meaningless, I also lost time from investing in the useless coin. My carelessness cost me earnings. I am hoping I will not make the same mistake. Now I need to search for a new coin to mine, maybe just go with dogecoin? However I am mining with mostly cpu. May stick with cryptonote then. Will update when I figure this all out.
Date of post: 9/13/2018
