Mining Different Coins

[eddied316]

Hey guys, new here!

Was wondering - Do you generally just go right for the big coins like BTC, and LTC, or do you mine smaller scrypt coins and sell them FOR your BTC or LTC?

That's what I'm trying to decide right now.

[jongameson]

i like teh idea of hashco.ws, where they pick teh coin 4 u.  but i haven't had much luck with them for some reason..

u decide

i like to mine feathercoins, cause they are nice round numbers (1-2, etc..)  litecoins are like really small numbers (0.0004), etc..

[raspcoin]

It is no longer profitable mining BTC without professional hardware. LTC is good for consumer GPU's, but there may exist better scrypt alternatives. A recent example is Dogecoin, but the difficulty has become too high to consider it now. There are also some CPU-only coins like Primecoin, if you want to use your CPU as well.

[eddied316]

I've heard about DogeCoin, but without knowing how much their worth, might be a waste of time.

[SlidingHorn]

Hi Eddied316, and welcome

It's really dependent on your rig(s)...If you have a lot of GPU power, low overhead, and think you can hang with the big boys in the Bitcoin mining biz - go for it.  Just know it's highly competitive and hard to mine in a cost effective manner on your own with all the big guns buying specialized mining rigs, etc.

You're more likely to have success starting with a smaller coin and trading up to BTC, if they're your end-goal.  

All just my humble opinion

[Mblackout]

It seems litecoin is the 2nd most pouplar.  As of now it seems only GPU mining is the options for light coin which helps even the playing field.    What is a good exchange to sell lite coins for btc?

It will be interesting to see where BTC goes as the next level of miners come out.

[furezasan]

i like teh idea of hashco.ws, where they pick teh coin 4 u.  but i haven't had much luck with them for some reason..

u decide

i like to mine feathercoins, cause they are nice round numbers (1-2, etc..)  litecoins are like really small numbers (0.0004), etc..

hashco.ws sounds like a great idea

[raspcoin]

Hi Eddied316, and welcome

It's really dependent on your rig(s)...If you have a lot of GPU power, low overhead, and think you can hang with the big boys in the Bitcoin mining biz - go for it.  Just know it's highly competitive and hard to mine in a cost effective manner on your own with all the big guns buying specialized mining rigs, etc.

You're more likely to have success starting with a smaller coin and trading up to BTC, if they're your end-goal.  

All just my humble opinion

Sorry, but Bitcoin mining is not profitable, not even with the best consumer GPU. You really need an ASIC now, or free electricity.

[OneEyedJack]

Right now, it doesn't matter which coin you mine, as long as it is being traded, that is all that matters.
Every coin that is being traded can be exchanged at a BTC rate. All Altcoins that are being traded, are using BTC as a comparative standard.

[SlidingHorn]

Hi Eddied316, and welcome

It's really dependent on your rig(s)...If you have a lot of GPU power, low overhead, and think you can hang with the big boys in the Bitcoin mining biz - go for it.  Just know it's highly competitive and hard to mine in a cost effective manner on your own with all the big guns buying specialized mining rigs, etc.

You're more likely to have success starting with a smaller coin and trading up to BTC, if they're your end-goal.  

All just my humble opinion

Sorry, but Bitcoin mining is not profitable, even with the best consumer GPU. You really need an ASIC now, or free electricity.

I agree with you - no need for apologies

[raspcoin]

Right now, it doesn't matter which coin you mine, as long as it is being traded, that is all that matters.
Every coin that is being traded can be exchanged at a BTC rate. All Altcoins that are being traded, are using BTC as a comparative standard.

Of course it matters. A consumer computer usually consists of a CPU and a GPU (and other components). There are some coins that are made for CPU mining, while other are more efficient with GPU's.

[ajax3592]

OP I mine alt coins and when they go much high in value, I exchange them for Bitcoins

I've heard about DogeCoin, but without knowing how much their worth, might be a waste of time.

Mined a million of those in last week with my 70Kh/s card and it's current value is around 0.8BTC, I could have never mined that many Bitcoins in a week. (not even in 50 years)

[wreckish]

I mine the most profitable and trade were I get the most. There are places that do this for you automatically and it works great but with a higher fee than a standard mining pool.
Look at coinwarz for the best scrypt-coin atm. Good luck