Title: is it still worthwhile to get into altcoin mining now? Post by: C64_4EVA on April 15, 2014, 01:28:40 PM i'm still in the research phase... if you were just starting out, would you build a rig or just buy certain coins on an exchange?
Title: Re: is it still worthwhile to get into altcoin mining now? Post by: djm34 on April 15, 2014, 01:45:06 PM no... go away ;D
Title: Re: is it still worthwhile to get into altcoin mining now? Post by: gilad215 on April 15, 2014, 01:46:47 PM i'm still in the research phase... if you were just starting out, would you build a rig or just buy certain coins on an exchange? buy coins you think will grow. mining became too hard and time taking Title: Re: is it still worthwhile to get into altcoin mining now? Post by: lemfuture on April 15, 2014, 01:47:57 PM only market knows. try and experience it
Title: Re: is it still worthwhile to get into altcoin mining now? Post by: taaku on April 15, 2014, 01:48:36 PM depends upon your investment size and how cheap you are getting your hashs.With current difficulty and price it not feasible but if the price go up then you can break even.
Title: Re: is it still worthwhile to get into altcoin mining now? Post by: eeeeek on April 15, 2014, 04:19:58 PM i'm still in the research phase... if you were just starting out, would you build a rig or just buy certain coins on an exchange? I got in 1.5 months ago.. so far made 1.2 BTC by mining and trading.. so still profitable imho Title: Re: is it still worthwhile to get into altcoin mining now? Post by: jparsley on April 15, 2014, 04:28:03 PM U can buy some good, well developed coins as they are cheap now. U can also start mining new coins.
Title: Re: is it still worthwhile to get into altcoin mining now? Post by: sonysasankan on April 16, 2014, 06:13:22 AM Of course.... but keep an open mind and be ready to switch algos / softwares as and when the come and deems profitable. Be on a lookout for all announcements.... be prepared to spend all day looking at charts and pointers from others, rumors, etc The coins you mine may not be worh anything in a few days... while some will pick in value after a said date or when some feature is implemented. Use your brains. If you don't have any, listen to those who do :P And most important of them all.... DO NOT get emotional over a coin. That wil fuck with your judgement... see them as "brands" in a supermarket. Some are in sleek packaging but are like lays.... a few crisps and a lot of air. Some are ugly as shit, but you will be surprised at the exotic ingredients it might have. Be ready to buy coins whose devs and community you cannot stand... and similarly sell the coins that you held for over a month. Play our cards right and you will make back your money within 6 months (including paying electricity bills)... the rest is pure profit once you have your cost recovered.
Title: Re: is it still worthwhile to get into altcoin mining now? Post by: wijnand1 on April 18, 2014, 09:25:09 AM i'm still in the research phase... if you were just starting out, would you build a rig or just buy certain coins on an exchange? It also depends on how much to you are willing to invest in trading/ building the rig and switching coins. Some people see building a rig as a hobby others like trading. Buying a certain coin is more risky because you put all your eggs in one basket, when mining you can always switch to a new coin. Title: Re: is it still worthwhile to get into altcoin mining now? Post by: PolarPoint on April 18, 2014, 09:55:26 AM I think it is still worthwhile to mine litecoins, I expect litecoin value to rise, not sure about the new alts though
Title: Re: is it still worthwhile to get into altcoin mining now? Post by: sgk on April 18, 2014, 10:01:49 AM i'm still in the research phase... if you were just starting out, would you build a rig or just buy certain coins on an exchange? Rather than building a GPU rig for altcoins, I would suggest you directly jump over the next stage, scrypt ASIC. GPU mining of most altcoins is going to be out the door in a few weeks. If I were you with some decent money, I'd order a KNC Titan scrypt ASIC or Fibonacci chips and start mining Litecoins when I receive it. Meanwhile you can do the buy-sell trading. And if you have a couple of GPUs you want to utilize right now, point them to some X11 coins such as DarkCoin. Title: Re: is it still worthwhile to get into altcoin mining now? Post by: grippy54 on April 18, 2014, 01:54:34 PM i'm still in the research phase... if you were just starting out, would you build a rig or just buy certain coins on an exchange? Rather than building a GPU rig for altcoins, I would suggest you directly jump over the next stage, scrypt ASIC. GPU mining of most altcoins is going to be out the door in a few weeks. If I were you with some decent money, I'd order a KNC Titan scrypt ASIC or Fibonacci chips and start mining Litecoins when I receive it. Meanwhile you can do the buy-sell trading. And if you have a couple of GPUs you want to utilize right now, point them to some X11 coins such as DarkCoin. If you can't do that, set up a GPU rig and mine ASIC resistant coins. Scrypt-n and X11 are good for now. As they become more profitable, the ASIC makers will try to hit them too. |