Is mining altcoins more profitable than bitcoins?

[danfoda]

Is mining altcoins more profitable than bitcoins? If you think about, there are alot less people doing it, you can do it with less expensive equipment and dont need to upgrade that frequently?

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[forumaster]

Is mining altcoins more profitable than bitcoins? If you think about, there are alot less people doing it, you can do it with less expensive equipment and dont need to upgrade that frequently?

After asic miners you can mine bitcoin only with them or you will lose only money for electricity... Mine altcoins is a lot more profitable than mining bitcoin, I suggest to you Nicehash, it have several altcoins that you can mine and it auto convert them to bitcoin, it also have a program called NiceHash Miner that is a very useful GUI that help you to mine with CPU and GPU

[JeffBrad12]

Is mining altcoins more profitable than bitcoins? If you think about, there are alot less people doing it, you can do it with less expensive equipment and dont need to upgrade that frequently?

I think more prefer to mining alt coin because maybe it's will more easy than mining bitcoin but in my minds if we wanna to calculate how is more profit,mining bitcoin or altcoins i can say it's have a same chance to get a profit maybe it's different in the mining if you mining is more difficult rather than mining alt but if you calculate the amount of altcoin is you get in the BTC form it's not having a large of different.

[Pursuer]

Is mining altcoins more profitable than bitcoins? If you think about, there are alot less people doing it, you can do it with less expensive equipment and dont need to upgrade that frequently?

it is not directly about the number of people mining, it is mainly about the difficulty.
all these coins you see are new so they have lower difficulty which I guess it is indirectly related to how many people are mining them.
but also you should remember that mining altcoins is also risky because for example mining an unstable coin like ethereum can cause a lot of headache because of the massive dumps and the stress of the whales dumping their 80 million coins.

[Nahl]

altcoin mining have lower difficulty than bitcoin and you may get more coin by mining the particular altcoins but the main problem is when the coin listed on exchange and do not be forget that altcoins prices is very unpredictable and even though you have very much altcoins from your mining activities but if the prices are very low i think that would be aren't profitable any longer

[ethereumhunter]

i think its still profitable when we want mining altcoin, because altcoins have many coins that we can mining. if you want and have budget, i suggest that you buy vga cards and then you can try to mining ethereum or ethereum classic. for ethereum, its give profitable than other altcoin.

[robelneo]

Is mining altcoins more profitable than bitcoins? If you think about, there are alot less people doing it, you can do it with less expensive equipment and dont need to upgrade that frequently?

Yes it does and it's profitable,a friend is now doing it,some of these altcoins had a low difficulty and they can easily be traded on various exchange,and if you calculate the profitability it is really is more profitable,just go for a newly launch altcoin to get more mileage..

[NeuroticFish]

Is mining altcoins more profitable than bitcoins? If you think about, there are alot less people doing it, you can do it with less expensive equipment and dont need to upgrade that frequently?

It depends on the altcoin and what you do with it. Meaning some altcoins are not even on an exchange, or if you hold you may get burnt.
Then there are altcoins easier to mine and sell and altcoins more difficult.
It needs research, sometimes the right altcoin pops up. Since yesterday I mine an altcoin with CPU (!) and I get about 10 cents / day. I would never get that with BTC. I don't expect this to last long, but I'll try to mine and sell as long as it lasts at this rate.

[jack1111]

After the halving , I think mining altcoins became more profitable . These days are the best time to mine altcoin , because Bitcoin price still about $ 600 , it is not much higher than the price before the halving , but when Bitcoin price rise up over $ 1000 , the other altcoin prices will go down , because people will return to Bitcoin , that will affects altcoin prices , therefore mining altcoin will be less profitable .

[Das]

Mining altcoins sometimes requires few hardware - your desktop. New altcoins like Ethereum classic don't have much difficulty and can be mined with relatively small capital.

[Babayega31]

Yes mining altcoin will be very best for now since bitcoin difficulty are much higher this days and that is what ive seen alternative for other miners doing today and yet it could be a best choice for miner so they can still use their miner and not to be dump in their cold storage

[Deepcleen]

Mining altcoins sometimes requires few hardware - your desktop. New altcoins like Ethereum classic don't have much difficulty and can be mined with relatively small capital.

The profitability of the ETC and the ETH is the same as miners switch between the two to mine the more profitable coin.

[Ayers]

yes because the halving killed the profitfor bitcoin, they are now waiting for antminer 10 or 11, because not even the last antmier, 9 can do a good profit anymore with the last dump, altcoin is much more profitable there is a better ratio between mined coin and value

[Deepcleen]

yes because the halving killed the profitfor bitcoin, they are now waiting for antminer 10 or 11, because not even the last antmier, 9 can do a good profit anymore with the last dump, altcoin is much more profitable there is a better ratio between mined coin and value

If you have the antminers S9, it is still very profitable to mine if you have cheap electricity. But the price of S9 is to high.

[Ayers]

yes because the halving killed the profitfor bitcoin, they are now waiting for antminer 10 or 11, because not even the last antmier, 9 can do a good profit anymore with the last dump, altcoin is much more profitable there is a better ratio between mined coin and value

If you have the antminers S9, it is still very profitable to mine if you have cheap electricity. But the price of S9 is to high.

s9 consume too much and give you a gross of 0.013 btc a day really bad in comparison of a full rig of six gpu that can give you double of that and consume less, gpu are much better than asic for now and s10 will not change that i think

[Deathwing]

In some case mining sha256 altcoins are more profitable then mining bitcoin, specially at the time of launch so you can mine them at lower difficulty and sell when price increase up, if you mine a good coin then you can make a good profit compared to bitcoin mining.

[tiggytomb]

Also without having any hardware you are able to rent some power from the likes of miningrigrentals and if you get the right coin at launch you can make a decent amount of profit.

[Deepcleen]

In some case mining sha256 altcoins are more profitable then mining bitcoin, specially at the time of launch so you can mine them at lower difficulty and sell when price increase up, if you mine a good coin then you can make a good profit compared to bitcoin mining.

Mining SHA could be more profitable than the bitcoin. But you have to watch the new coins all the time. Most of the new coins are not SHA 256.