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Title: Help a virgin bitcoin miner out. Post by: lppzaz on August 06, 2017, 08:48:14 AM Ok, so a friend and I decided to mine for bitcoin seriously and looked at options, currently direct bitcoin mining even with a Antiminer at 13.5th seems to not be profitable enough for us to use it as a full time income.
We live in South Africa and mining bit coin here costs about 0.15cents per watt. So far with our limited knowledge, altcoin mining and converting it to bitcoin or taking a mining contract with genesismining seems the best way to go. (we have read some bad things about cloud mining never giving a true profit so want to steer clear of this) Altcoin miners according to crytpocompare just come out miles ahead in the profitability stakes. Can someone tell me why altcoin is viable? Why does anyone even mine it apart from the obvious fact that it is easy to mine, when bitcoin is the original and so strong($3300), and are most people converting these altcoins to bitcoin which kind of defeats their usefulness as no one wants them they just mine them to convert to bitcoin? Thank you for your time - we currently intend on trying to source an antminer d3 for dash mining as the price and the mining capability seems the most profitable. It has seemed to be near on impossible to get hold of one so help in how to source these machines would really help. Please let us know what you think, your South African friends. Title: Re: Help a virgin bitcoin miner out. Post by: Nalbo on August 06, 2017, 10:50:30 AM Lot of industrial mining of bitcoin that makes its difficulty very high.
Relatively unknown coins can sometimes gives better results. Use coinwarz.com for quick reference for most profitable coin. With antminer go for SHA-256 coins. Title: Re: Help a virgin bitcoin miner out. Post by: lppzaz on August 06, 2017, 12:56:29 PM I checked coinwarz it reckons that I should mine CHNCoin with a scrypt miner for maximum profits....who the heck would even buy this CHNCoin in exchange for btc? This altcoin thing still blows my mind....
I feel saver with things like dash coin as cryptocompare gives me the stats for mining things like dash.... I am more confused about maximum profitability with 1/2 dedicated miners like x11 or scrypt or sha-256.....what do I pick....please help. Title: Re: Help a virgin bitcoin miner out. Post by: lppzaz on August 06, 2017, 08:08:17 PM anyone?
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