Bitcoin Forum

Recently I've been mining bitcoins as well as litecoins, namecoins, ixcoins & devcoins. I've traded some of the other types of coins for bitcoins, but was wondering if there is any consensus amongst the rest of the community if it makes sense to keep all these other coins in case they themselves become valuable someday. I've heard people say that as bitcoins become harder to mine, and more concentrated (and therefore less float) people may turn to litecoins as they are easier to mine and there will be more of them. This of course may or may not be true, we won't know for some time.

So... Do people trade their other coins for bitcoins or keep them just in case they increase in value?

I regret not keep my bitcoins for 1 year.....

I guess to properly answer your question:

Would you rather make $5 today or say I don't need $5, lets gamble on the long run.

Well that's my question. How many people think as you do, versus how many think that it is better to diversify?

I don't keep any coin that is just a fork with no enhancements. Although I mine FTC, CHN etc (or whatever is most profitable at any given time) I sell them off quickly for BTC or LTC.

What do you foresee in regards to Litecoin price if Gox carries them soon?

I think LTC will go up over the summer as is is more readily tradeable.

IMHO people keep them just in case they increase in value

How can a noob cpu mine cryptos, and which is the best for a noob with a cpu?

If I had a large system I would mine all types of coins, but for now I mainly stick to BTC, LTC, and TRC. LTC and TRC I think I'm going to keep as I get them from mining, however I'm not so sure about BTC. I'm definitely not planning to keep the funds inside my pool especially after what recently happened in another pool when 30% of everyone's funds were taken.

So what's you rationale behind keeping the various coin types? I personally look to diversify, is that your opinion as well?

I just want to know which crypto is feasible for guy with a desktop computer.

It completely depends on your video card. CPU mining isn't very powerful. If you have a decent ATI card, you can mine bitcoins and litecoins at a slow rate, though litecoins will mine faster, and the others even faster than litecoins. If you are restricted to CPU mining, I'd stick to litecoins and use a scryptminer. Bitcoins take a *lot* of computing power to mine and require a high end ATI video card to mine, and even then you'll want to mine with a pool.

I mine Bitcoins with one card, and Litecoins with my other ATI video card. I also use some CPU mining for litecoins as well, but they are super slow, but while I can still get a tiny bit of litecoins with CPU mining, don't bother to try to mine bitcoins with your CPU.

How do you mine? I hit the mine button and nothing happens I am a schmuck! lol!

I feel like the smaller alt-coins are gaining for value as people jump ship to them because "oh no, bitcoin is dying, let's all move over to X!".
That's what it seems like with litecoins at least, aren't they USD$2 now or some such?

With the emerging coins (e.g., not BTC,) you definitely want to diversify.  If you can mine the emerging coins that are easier to get, then periodically stow half of them and trade the other half for BTC (if the rate isn't abnormally crazy at the time anyway) then that's probably the safest way to do it, won't necessarily make you the most though.

The Alt Coins I mine with CPU are BBQ, WDC, YAC, NiB, BTG, and BTB

All of those are standalone coins (means they are not merge mined on the Bitcoin chain) and most of those have a fairly low difficulty.

These are the mining pools I use for each

BBQ Coins
bbq.ltcoin.net (PPS - Pay Per Share) <-- here you canearn more per share depending on your CPU strength
silverwolf.ath.cx (PPLNS - Pay per last N Share) <-- here you will earn shares faster

WDC, YAC, NiB, and BTB Coins at ltcoin.net (All PPS)
yac.ltcoin.net
nib.ltcoin.net
btb.ltcoin.net (highest difficulty)
wdc.ltcoin.net

BTG (Bit Gem) and Bitbar (BTB) at Binary Coins
btg.binarycoins.eu
btb.binarycoins.eu

I have to stay away from LTC and FTC (FeatherCoin) because the difficulty is too high for cpu mining (for me). The other coins like Devcoins (worthless and useless) and ixcoins (and others) are merged mining on the BTC chain. Its just annoying and pointless

I know there is 1 or 2 that I am gorgetting that I do mine from time to time; bet I remember them as soon as I post this reply

I got LTC mining going on a 7970 for a month and have accumulated 30 LTC with several stops and starts. Just bought a 2nd 7970, should I go to NMC or keep chugging along at LTC?

What would be the best coin to mine with GPU? LTC is petering out as Difficulty is skyrocketing.