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The 2022 Crypto Mining Strategy Insights: An Overview
The world of crypto mining is ever-evolving and volatile. For those of us in the mining community – be we hobbyists or invested miners – the start of a new year always brings with it a certain measure of anticipation and queries. There’s much speculation over the best strategies for the coming year, especially given the promise of significant changes in the crypto-sphere. With my own personal strategy in mind, let’s unpack all these and discuss the 2022 crypto mining strategy in detail.
A Reflection on 2021’s Crypto Mining Industry
Entering the Crypto Mining Scene
My entry into crypto mining occurred in February 2021; this marked a remarkable period bereft of any unprecedented curveballs. The advent of my venture coincided perfectly with the industry’s profitability surge, making 2021 a financially conducive year for crypto mining. Most of my strategy centered around holding (HODLing), a move bolstered by the then favourable conditions.
Regrets and Lessons
Looking back, my only regret lies in my single sell-off decision. However, much like life, crypto mining is filled with possibilities and teaches invaluable lessons ripe with wisdom. Each failure and, indeed, each regret paves the way for successful future strategies.
Understanding Crypto Mining in 2022
Predicting the Unpredictable: Ethereum’s Proof of Stake
The last year gave us a break from significant curveballs. However, 2022 poses a different scenario to all miners. With Ethereum introducing proof of stake, the landscape of crypto mining is set to change immeasurably. While it was initially touted as a “post-2021” shift, the Ethereum proof of stake conversation has increasingly caught the eye of miners, stirring discussions and altering strategies.
Gravitating towards Bitcoin
Given these considerations, my approach is shifting towards more stable options, namely Bitcoin. My plan for 2022 includes transforming my GPU mining rig into a conversion exchange mining platform for stable currencies like Bitcoin rather than Ethereum.
With Bitcoin exhibiting a more stable trend, this move appears the soundest course of action as we get closer to Ethereum’s shift to proof-of-stake.
Planning for a Possible Bear Market
Speculation is rife that we might encounter a bear market in 2022, an event that I, like many miners who joined the fray in 2021, have not yet experienced. However, preparation is key.
Intensifying GPU Collection
If a bear market eventually hits, my strategy would be to double up on my GPU inventory. The plummeting GPU prices during this period should provide an ideal opportunity to expand. This way, I would be well-positioned to make profits when the markets recover. I hope to increase my current count of 62 GPUs to well over 120.
New Coins, New Opportunities
With Ethereum’s proof of stake looming on the horizon, the million-dollar question for many miners is: what’s the next big currency to mine?
Having pondered this question, Flux is beginning to seem like a viable option. This cryptocurrency has been showing dynamic potential with a steady demand curve. Flux could very fittingly replace Ethereum as the crown jewel of GPU mining in the post-Ethereum era.
Also, with Ethereum poised to move into the proof-of-stake model, I see Ethereum Classic and potentially Ergo gaining much of Ethereum’s hash rate. Although Ravencoin is another consideration, high electricity costs and power consumption make it a less competitive contender.
Preparing for the Future
While the bear market forecasts are abundant, there is no definitive way to predict precisely when it will hit. Regardless, having a solid plan for whatever comes our way is essential.
With my experiences and insights, the aim for 2022 is to increase my GPU count, shift my GPUs to flux, and move my earnings into conversion and exchanges for payout in Bitcoin.
Additionally, I welcome diverse thoughts and strategies from fellow miners. Be it weekly sell-offs, HODLing, or GPU sale, sharing strategies will enrich our knowledge and aid in devising effective plans to navigate the unpredictable crypto mining market.
Embracing new strategies, anticipating changes, and preparing for all possible scenarios are the hallmarks of a successful mining journey. This proactive approach, coupled with lessons from our past, is sure to guide us all through the exciting path that lies ahead in the crypto mining sector in 2022.
What is your Crypto Mining Strategy for 2022? What do you plan to mine DAY 1 of Ethereum going Proof of Stake?
Im from the future. The baremarket is bad. Btc is at 20k
i agree. get more cards when they get cheaper this year. Nice video. I'm new and just getting into mining.
Nice video
I personally started 2 months ago, and I'm not planing on selling. I currently have 1 rig x 6 gpus, and hopefully I'll get my hands on even more later this year, when prices are lower.
Good strategy. Im from Roumania and the prices of gpu s is very low. I m buyng now what i can get
Bruh a hobby with over 10 grand of GPUs in the back
Hi , ETH2.0 launch on June 2022. Pc mining still can running ? Thanks
I just keep mining until eth 2.0 out and switch to btc , waiting new rtx 4000 and build new ring , i don't really like rtx 3000 lhr version , it's kinda shit
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You don’t like what I expected lol
I think the same way.
Im on my third year of mining and I am just saying om eth as long as I see it being most profitable.
Later i will have to look in to if using a service as nicehash or directly mining some other coin full time, wich ever is making best profit.
I always sell my coins to uppgrade my riggs. I dont plan on timing the market so i just build consistently through out the years.
Maby at the end of 2022 i might start putting my coins to work instead of selling them but that is still undecided, i earn more by selling them and investing in hardware then staking anny ways.
Great to see you my friend. I am@ 25 GPUs started same time as you. Although UK power is .20p per kw/h I am expanding same as you. Efficiency is the name of the game 6600s and cheap 1660 super/tis only.
50%50 strategy..half sale half keeping.. my opinion.
your contents come out too rarely… But I hope that the next one will be about O-MEE and $OME. I'm so in love with them, and I'll be glad to hear ur point of view!
Are these miners doing face reveal for tax purposes? Like i cant wrap me head around why most of you guys are showing face.
Low key prefer the faceless content. Just something about getting info from a nome that gets me juiced up. Now talking head. Not so much
Will the RX6600 build be good for Ravencoin? I’m a newbie at this.
Maybe talking with all these fans in the background would not make for a good video?
Why are talking over fans your voice is really low and the fan noise is annoying
I’m building a mini doge miner farm.
– GPU’s are way too expensive to be buying right now unless you somehow find one for cheap. It makes way more sense to buy ASIC miners at the moment.
– Mini Doge are silent, as profitable as a single solid gpu, low electricity, they’re tiny so you can have hundreds, they’re actually available to buy sometimes at a reasonable price from manufacturer, and if any of them die or break, it doesn’t affect you like if you only had one big rig ASIC miner doing all the mining ⛏
i think my plan is to dump all my 1080/1080tis and use that money for more efficient cards. Way to power hungry. Its a tough choice though. they are paid for but I can sell them for $$$ and put that towards other things……Also just subbed because I want to follow more small time miners. even though you are ahead of me, you aren't nearly as big as so many others. I'm one 11 cards total (ithink)
i think the bear market started already.
Toncoin, I think has potential to be profitable for mining after ETH 2.0 .
Great info and content as usual good to see a face behind the the hobiest, think most of us at home miners have similar goals hopefully gpus do hit the market more not easy finding some especially in west Africa,
Keep up the great content thanks
FLUX BECAUSE OF PARALLEL ASSETS AND WEB 3.0 Im currently mining ETH and FLUX but going all in on Flux 2022 I need more GPU anyone???????
ETH 2.0 will be collapse. if he doesn't living with people.
Currently flipping GPUs on eBay and FB Marketplace. trying to get the best Sol on my 8 GPU rig. I plan on building 2 more 8 rig miners this year. 2 mining FLUX and 1 mining TON.
Will be holding FLUX long term. Don't need the income. will look into profits next bull cycle
Flux is so Hot. I dont like. Good promotion video.
Hi, I started mining about 18 months ago,rolling with 700MH (10 GPU's) right now, mainly ETH but jumping to here and there just to get a taste of it and always switch back to ETH because of the profitability of course… Indeed, I have the same question in my head… Yes i am also looking into buying more rigs when the price of GPU's go down. I have 1 rig on ETC right now… tried Flux for few days too… RVN crashes my 3090 so i'll pass for now… probably convert everything I mine into some coin that can be staked and live on the % generated ??? ;)thank you for all your contents
flux ftw
I say ERGO has a lot of potential if you mine and hodl
You miners are fucked up 😂😂😂
I started February with a single 1080 and now I have 16 gpus….
Flux man it's the next big idea I feel. Working on an idea for decentralization of the nodes. I'm on the discord, hmu if you're interested.
I haven't even sold my doge I bought in at 5 and I'm not I'm going to let it sit everything I have invested in mining is money I'm willing to lose
Switched my rigs to avian and toncoin. 2022 I'm only doing new projects on all risk coins. Worse that can happen is I make nothing, best that can happen is I have coins that gain worth
Flux first
ETC second
Rvn third
Flux cuz it’s easy to find a block with one rig only in these days, plus it has “parllel assets” payout
Keep in mind flux works better with nvidia cards than AMD don’t know why 🤷♂️
Btw i’ve feeling that your channel will grow soon 🔜 👍💪
Nice video…
next coin? mabye Sero(SERO)
my strategy is very similar to yours, i began in mining since oct 2020 and i think flux have very nice potential would be probably the "next eth" im interested in mine it agter ethereum and thats all, keep hodling, getting more gpus if is possible and enjoy this hobby xd
Awesome content! Love the realism and the way you are honest about your mining experience. I appreciate your content and sincerity! Please don't stop!
great video man! Nice to see and hear a down to earth realization that something is coming, and we gotta be ready for when it does to move on to the next best thing
As far as GPU's go… I'm still buying them as the money comes in and the curve is getting better and better!
Great video. loved it! Thank you! Keep em coming!