Mining is not the fastest way to make money

If you have just discovered cryptocurrency and you want to buy a powerful machine for mining, abandon the idea because it's a waste of money. First of all, the hardware is too expensive and too loud. You can buy an Antminer S9 for $1700 just to mine $24 of bitcoins per day and it's not even pratical. The machine consumes about 1350W and makes a noise of 75 Db. If you are a normal person living in apartament, just forget it. You should buy a sound-proof server rack for $1000 to reduce the noise and make the machine run day and night. In this conditions, the lifetime of the device is reduced drastically, the machine could die after only 2 years. If you make $24 per day, in one month is $24 x 30 = $720. If you believe that with GeForce 1080 Ti the things get better, you are wrong. In this case, a single GPU can mine less than $4 per day, running day and night. With 8 GPUs you have a decent noise but a power consumption of 250W x 8 = 2000W. You must revise your energy contract to have at least 4.5 kWh if you want to live with other people in your apartament. If you make an investment of $6000, you have to wait 6000 / 32 = 187.5 days, about 6 months to have your money back, and this time can be considered a decade in the cryptocurrency world. Moreover, if you buy hardware to mine cryptocurrency, even if the value can grow, the difficulty will grow at the point to make the mining almost impossibile. It's what happened to Bitcoin in short time. What you could mine in the past with GH/s, now it requires TH/s. So, if you buy an Antminter S9, you have no guarantees that the machine will not break or that it will not become obsolete like its predecessors, the same could happen with the graphics cards that become obsolete in few months. I remember when I bought a GeForce GTX 670 when it was one of the most powerful in that period, and now it can do only 60 H/s with Equihash, where you need 700 H/s to make less than $4. Imagine if the same would happen to your 8 GeForces 1080 Ti, it would be a disaster.

I'm not saying that mining is useless, mining is what maintain most of the cryptocurrencies alive. I'm saying that mining is an investment that requires the right equipment, years of experience and efforts, it's not something that everybody can do at home. I'm reading stories of unexperienced people that are literally wasting their time and money on that. A 21 years old kid said on twitter that ordered five Antminer S9. I hope for him that he doesn't live anymore with his parents but he lives in a house with an energy contract of 10 kWh and a basement without neighbours in a range of 100 meters. It's pretty sad to read bullshits around an argument that is pretty interesting. It's sad to read that people still consider cloud mining like Genesis a good alternative. Genesis was good in the past but not anymore. The company bought machines with the money of people that made convenient contracts to mine bitcoins, and now they bought a shit load of graphics cards (that are easier to maintain) with expensive fees for the customers that are mining. If you make your math, mining with Genesis is not convenient at all. You pay $7200 for a contract of 2 years to make 34 bucks per day with Monero. In the best scenario, you will see your money back in 7 months. During this period, they will give you dollars instead of monero. You have no guarantees that the difficulty will not grow even more. You don't have any guarantees at all. And at this price, you can buy a mining rig of 10 GeForce 1080 Ti to mine whatever you want without a time limit of 2 years, and in the worst scenario you can sell the graphics cards.

With trading you can make actual money in the shortest time possible without an heavy investment. My idea is: if you have money to waste, just do trading. To make a comparison, mining needs a loud machine of $3000 to make only $24. With trading and the same amount of money, you can make $1500 in one day. Yes, you are reading right. The only thing that you need to do is to trade with an increment of 50%, and it's not difficult at all. You have to be patient, smart and intuitive. Bitcoin is stuck to 11000 now. It's not a problem. There are hundreds of cryptocurrencies that you can use for trading that are supported by free trading platforms on the internet, like poloniex. In the last week, IOTA grew of 150%. With $3000, you could have in your wallet $7500 in one week vs. $168 with mining. And it's just one week without trading during the gain and loss. Imagine what you can do with fluctuations of 20% or 50%, day and night. Let's do some math. With $3000, if you guess 10 times an increment of 20%, you can make 3000 * 1.2 ^ 10 = $18575, that is about one month of lazy trading. Mining is a no brainer that can give you a little money after months or years, but with your brain there is no limit in what you can do.