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Except it doesn't. Still the best way to make money from crypto is to steal it, and its untraceable so there's no way to recover it.
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Most of crypto currencies are traceable, all transactions are on public ledger accessible to anyone and only can be anonymous until you want to spend them either buying something or exchanging to fiat. Even so called private transactions with Monero, Dash or Zcash which are supposed to be anonymous and traceable are not that private. There is no doubt other more private versions will emerge or existing coins will get upgrade but the days of hiding behind BTC transactions are long gone. If you stole BTC it will be very hard to convert it into goods or other forms of payment these days.
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Hi There,
I'll go with disappointing. They had so much potential at the beginning of the year. With the slight rise recently I've probably about a grand of crypto for an investment of 3-4 with the electricity costs. I knew it was a gamble and didn't put more in than I could afford to lose, so i'm ok, but i've 3 probably almost worthless ascic miners. I did get a lower gas bill, but a much higher electricity one, so maybe offset a little
I still believe that in time crypto will hold true, but the confidence has been quite heavily shaken by the media assault on the new tech. Probably because the banking sector is very controlling and has a lot of power.
It ain't dead by any means but as investment goes it is somewhat lacking, then again it wasn't conceived as investment but facilitating a solution to a monetarial trust problem across the internet and it still meets those goals!
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There have been several ups and downs inn cryptocurrency, it's just a case if you want to abandon it now or are you fanatic supporter. Most of my friends that wanted a quick buck have gotten out of it now and sold their equipment, mostly at a loss. I am still going, GPUs still make a bit more than it costs in electricity and ASICs are running on WiFi sockets with timers to use the cheap night rate and if they get rented out at a much higher price then 24/7.
Also discovered that my electricity meter is running on internal timer which is 19 hrs behind instead of telesync so have been loosing a bit there .
Anyway my cheap electricity tariff runs out 23/10/2018 and since I am already running most of my mining hardaware only at the night rate I have chosen a new deal with Ebico, Night Owl V2 which is a bit higher rate on days than the cheapest available and a lot higher in standing charge but free on night rate and allows me to use up to 60% on night rate. If I keep it 60% night 40% days and only run my mining hardware to match that split it will actually work out cheaper in average at about 8p/kWh instead of 10p/kWh now if I run it 24/7. Still no competition compared to some cheap Mongolian or Canadian energy @ $0.04.