Hi Brian, I am really new to crypto-currency, as in I don't have any yet and haven't started mining any. But my friend has for a couple of months and he's going to help me get started.
I wonder what you think of the idea of buying mining contracts on eBay? Do you buy mining contracts? Are there any good posts on Steemit you would recommend? Thanks in advance!
I don't recommend buying any mining contracts. Everytime I have crunched the numbers on them they only make sense if the coins keep increasing in value. When there is a pull back you are already locked into the contract for a long duration.
I wouldn't go out and buy a bunch of hardware at this point. This is 2013 / 2014 all over again. There was a world wide shortage of GPUs. Same thing has happened right now and the difficulty is going exponential on this stuff.
Mining is a really cool thing but you have to be in the right situation to make it work.
Thanks. I'm enjoying your videos on the topic. I realize I have a huge amount to learn about crypto currencies. It seems vastly complicated. I wouldn't actually buy any equipment. My friend says he uses miners - he's going to explain that to me over lunch sometime.
It is good to learn as much as possible for sure.