Trying to get into alt-coin mining

[HasHe]

Hey guys! Does anybody turn a profit from mining altcoins? I want to try mining newly released coins and selling some to cover electricity costs and leave some over for speculation. Would I be able to setup a decent mining rig with $5000 to put in?

Any successful miners care to share their outcomes from speculative mining?

[MysteryX]

It's a bad time right now for profit. Personally I wouldn't do it, but if you can afford to gamble with that $5k and are adamant on mining, then you could get some nice gear with that.

[Androidicus]

Most miners are fairly committed by now and having to face the power/GPU/ASIC/Alternative algorithm questions/decisions...

As MysteryX so rightly says, it is indeed a bad time for profit. You could get yourself some scrypt ASICs and point them at a switching pool and hope that the ever decreasing BTC returns that you get will be worth holding in case BTC soars in value...

To enter into the Altcoin fray so late in the day is quite frankly ex. risky. My honest advice is that if you genuinely have $5k to invest in mining, you could do far better trading... The volatility of BTC and LTC provide a great platform for trading. Read, learn, start small and 'cut your teeth'.

You have to ask yourself the serious question - can I afford to take my $5k and put a match to it? if the answer is yes then it is a fun thing to be involved in!

[statdude]

Make plenty on XMR:
https://bitcointalk.org/index.php?topic=675218.msg7646084#msg7646084

[Starscream]

Make plenty on XMR:
https://bitcointalk.org/index.php?topic=675218.msg7646084#msg7646084

Plenty? Hardly. Not sure why you spamming this shit everywhere.

You sound like a bag holder, so I assume you're logic for spamming what you're spamming is that more miners = higher diff = higher value.
That's just wrong on so many levels.

[statdude]

Make plenty on XMR:
https://bitcointalk.org/index.php?topic=675218.msg7646084#msg7646084

Plenty? Hardly. Not sure why you spamming this shit everywhere.

You sound like a bag holder, so I assume you're logic for spamming what you're spamming is that more miners = higher diff = higher value.
That's just wrong on so many levels.

Prove it wrong then please.
Noob asks what to mine, I tell him what afaik is best, since nobody has shown me otherwise, including you. Got a better suggestion? I'd appreciate it.
If not, go fuck yourself and watch some transformers.

[Starscream]

Make plenty on XMR:
https://bitcointalk.org/index.php?topic=675218.msg7646084#msg7646084

Plenty? Hardly. Not sure why you spamming this shit everywhere.

You sound like a bag holder, so I assume you're logic for spamming what you're spamming is that more miners = higher diff = higher value.
That's just wrong on so many levels.

Prove it wrong then please.
Noob asks what to mine, I tell him what afaik is best, since nobody has shown me otherwise, including you. Got a better suggestion? I'd appreciate it.
If not, go fuck yourself and watch some transformers.

Oh I'd watch some transformers you can be sure of it.

And exactly what do I need to prove? I never said its not profitable, I just said it ain't plenty lol. Anything that cover electricity is profitable.
But hey, you are calling 0.003 BTC/MH/day (~scrypt adjusted) "plenty" for gpu miners. I guess where you're from 1.9$ is a lot.
So how about you go wank in front an image of a cent or something like that.

Or maybe you want the price to tank because you're just promoting more miners to dump it.

Mind = blown.

[statdude]

Looks like I proved my point.

[Starscream]

Looks like I proved my point.

Good for you (assuming you aren't gonna edit/delete your post again).

[Equate]

It is too risky to invest in altcoin mining these days . Its better to invest in coin directly.