Some tips for profitability

[YaYMiner]

First of all i am new to post here but i do look on here often and i would like to start my first post by introducing myself. My name is Jason and i am a small time miner and when i say small, i am small. I have been altcoin mining for about a year now. I run about 4 laptops (all i7s and about 3 Intel Atom tablets at 1.83ghz, of which i installed linux ubuntu on them, even on the tablets) I can get these tablets to hash pretty good for altcoins, but this is only if i mine smart. I do run them all with free electricity so that is not a problem for me. I normally hate to share strategies but since i am not really doing this for profit and mostly just for fun i don't mind sharing I also would like to add that YES i am addicted to mining, but aren't we all?? Lol

I am not going to give away the coins i mine but lets say you mine a coin with a low market cap or a low value. Most people stray away from these coins but i love to mine them simply because say you mine a coin that is worth 0.00000020 and you mine about 3000 of them a day. This would make you about 21,000 altcoins in 7 days. This would give you a profit of about 0.00420000. Now lets say that the price would spike up just a little bit, say to about 0.00000022 in a couple hours. This would give you a profit of 0.004620000. The more small time coins you mine the more BTC profit you will gain say if you mine them for about 6 months to a year. The only thing you have to watch out for is if the coin is on the verge of completely bombing out so you would have to watch the market on it closely. I basically am just mining as much as i possibly can, not to mention staying loyal to your pool helps out a lot too. I will then wait for the price to spike up and i will then double, triple, even quadruple my BTC profits.

Small time coins are worth mining cause you could get a huge spike on them one day if you watch the market closley. This is how i got hooked on altcoins because i love the trading aspect of them and i actually do like the fast fluctuations in them as well. I also forgot to mention i like the PPLNS system as well because everyday i see steady increases in my probability.

Hope i did help a little and it's really nice to meet all of ya'll. Happy mining   

[TheRider]

Any specific examples of altcoins you've been able to turn a profit on in the last year since you started? Are these CPU mineable coins (since you run laptops)?

[YaYMiner]

Yescrypt algo coins are hot for CPU's right now but there is not many of them. Globalboost Y is a good one and Myriad just came out with their coin on the Yescrypt algo. You can find pools with a set difficulty or a Varible difficulty. Personally i like Vardiff since you can get in more shares once the difficulty is set high from stratum but it will lower to allow your share rate to remain steady in the long run. Also try to mine with PPLNS since your profits will go up in the long run as well.

Believe it or not i proved a lot of people wrong as you can make profits from laptops but, i am running 4 of them and they are all Core i7's. You can also setup Intel Atom tablets with linux to mine if you got some lying around. You can find cheap intel atom tablets at around $60 bucks running at 1.83GHz. All my tablets support AES-NI as well.

Hope this helps

[Shady]

Sounds creative, even smaller alternative cryptocurrencies spike in value more than expected. If I were you just keep them as they are for a couple years and enjoy the boom.

No matter the reason, always hold variety as this is how riches are made off even the smallest feathers.

[YaYMiner]

Thank you!!! Good example is say you mine over 1,000,000 in a year of a small altcoin worth just 0.00000020 even just a tiny jump, lets say 0.00000025 in the market price will yield you serious gains if you hold the coin. I know most people get impatient with one coin but i just stick with the same coin or just one algo for a long time and i will wait for a jump. When i was mining dashcoin for example i seen the price on it go from 0.00000600 to 0.00100000 in a short period of time but then it went back down again to about 0.00000600. I really wished i had held onto the coin at that moment but it was from this coin that made me learn to just hold on to them and wait for a serious jump. Altcoin trading is addicting, man it is so addicting haha

[cryptospreader_temp]

There are many examples in this method. You can take a look at Verge. It was traded at 1 to 2 satoshi on launch. Few months back it went up to 25 sats. Calculate the profit if you have invested 1 btc to buy at 1 sats and sell at 25 sats. Pot coin is also an another example. But don't believe in huge jumps. Many people have made huge profits by mining and holding coins for long time.

[Tasty Potato]

Your idea is sound, but how do you choose coins to mine and hold for long period of time, aren't you afraid the coin might just 'die'?
At what ratio do you like of feel comfi to sell? x5, x10?
What exchange method do you use? All to BTC?

[YaYMiner]

Mostly all to BTC unless i see i new altcoin coming out, but what i do is watch the coin very carefully in my exchange to make sure it doesn't bomb out and i will then sell it or trade for another altcoin.

[Tasty Potato]

Mostly all to BTC unless i see i new altcoin coming out, but what i do is watch the coin very carefully in my exchange to make sure it doesn't bomb out and i will then sell it or trade for another altcoin.

I see, but do you set some point at which you will be happy to sell? How do you 'feel' the right moment for selling?