Most profitable altcoin to mine?

[aristotlex]

Hey everyone, I'm looking to get into altcoin mining and was wondering what coin would be the most profitable. I'd love to hear everyone's opinions and reasonings

[Poink]

Hey everyone, I'm looking to get into altcoin mining and was wondering what coin would be the most profitable. I'd love to hear everyone's opinions and reasonings

Depends on your rig.  Some are best to mine a certain coin.

All else being equal, things can change.  Each coin have their own parameter and depending on point in time, the degree of difficulty may increase.  The value of the coin also dictates profitability.  People who mine BTC a long time ago thought they are getting pennies worth a month (and they didn't care but those are like hundreds if not thousands of coins a month).  Look at the value now.

[samy_voc]

I have been following recently the cryto and alt coins.

Still I am not able to understand when somebody says they can mine the coins. Please advise.

[nikolaich]

Hey everyone, I'm looking to get into altcoin mining and was wondering what coin would be the most profitable. I'd love to hear everyone's opinions and reasonings

It depends on your strategy. Its easier to mine altcoins with almost no value with very low difficulty. For example XVG. But you need to have some trust in the project and wait until the price of that coin rises.
 
To mine BTC you have to invest hard.

You can check whattomine site for some more info on the subject. 

[rayk]

You can compare it on the mining profitability calculator websites but mining profits may change a lot. It's rather a business than hobby, look at ethereum example for that.

[stomachgrowls]

Hey everyone, I'm looking to get into altcoin mining and was wondering what coin would be the most profitable. I'd love to hear everyone's opinions and reasonings

One dude said above.This would depend on what kind of Video Card or GPU you do have because mining profitability would depend on how many hash you would able to generate on those cards.I dont have any idea on what to suggest because there are lots of coins which can really be mined by gpu specially on powerful ones. The higher the hash the higher the income but thinking off it is more expensive.There are actually miningcalculator related into this.Just google it.

[cryptoking710]

I am currently dual mining Ether and SIA.

Like others have said above it really depends on what mining rig you have. for example a bitcoin mining rig will not mine ether.

[Whiplash Wally]

https://whattomine.com

[smsupto]

I think ether is most profitable altcoin at the moment.

[xaxistech]

Ether is one of the most profitables coins for mine, but it is getting a little bit difficult to take a good profit from eth mining. Litecoin is doing it good, you can mine with a L3, it makes huge revenues if your electricity cost is not to high.  But monero is one of the best to mine too, it is a very easy to mine and it doesnt ask you for a lot of requirements.

[leex1528]

I'd love to know as well.  I have a Geforce 1080 ti that I would love to start using, but I don't want to waste money doing it and am unsure of how to start somewhere.

[kandholabhavna]

I seee that a lot of people here mentioned litecoin, etherium, monero, sia etc. But all these have been around for a long time now. IS there a coin that is less known to masses and has a good chance of doing 50x or so?

[Poink]

IS there a coin that is less known to masses and has a good chance of doing 50x or so?

Sure, which one and spotting it early enough is the $50 million question...

For example, if you bought OKCash in April 2015....you would have made 50x on it a few days ago.

[kryptqnick]

I seee that a lot of people here mentioned litecoin, etherium, monero, sia etc. But all these have been around for a long time now. IS there a coin that is less known to masses and has a good chance of doing 50x or so?

I think IOTA is the best example but it's not mined, really. Some other new and promising coins are also with big marketcap and no mining opportunities like NEM. I honestly think that nowadays it's better not to waste time and money on mining but just invest long-term or trade. There are too many coins to keep track on them and decide which are profitable for mining and which are not. Ethereum is, by the way, a risky option, for it is ought to become not mineable soon.

[Poink]

I'd love to know as well.  I have a Geforce 1080 ti that I would love to start using, but I don't want to waste money doing it and am unsure of how to start somewhere.

Very versatile card.  We have a rig with 2 of those and can mine a lot of different coins (efficient too).  I think it is mining Monero right now.  My son is in-charge of it.

[sylance]

I seee that a lot of people here mentioned litecoin, etherium, monero, sia etc. But all these have been around for a long time now. IS there a coin that is less known to masses and has a good chance of doing 50x or so?

If there was then it'd probably be more profitable to just purchase it straight out in an exchange.  I see mining really getting pushed to two ends: one focused purely on profit and the other end for pure fun.  It's getting increasingly hard to mine for profit as the heavy hitters shift their resources around dependent on difficulty & price.  If you're mining for fun with the odd chance of getting a coin that 'moons' then I'd poke around the alt section and read the numerous posts and get a feel for where the optimism is.  For me, I'm part of the DeepOnion sig campaign and I mine it... for the fun of it.

[FrankNoland]

I don't think mining altcoins is profitable,or maybe let me rephrase it it: I wasn't making profit in all the altcoins i mined. But you can consider monero for mining, I once tried it. Note that I might take you three months to mine $9. Good luck, I stopped.

[sylance]

I seee that a lot of people here mentioned litecoin, etherium, monero, sia etc. But all these have been around for a long time now. IS there a coin that is less known to masses and has a good chance of doing 50x or so?

Instead of retyping this I'll just copy/paste: https://bitcoin.stackexchange.com/questions/148/what-exactly-is-mining

The way Bitcoin works is that instead of having one central authority who secures and controls the money supply (like most governments do for their national currencies), this work is spread out all across the network. Most of the heavy lifting for Bitcoin is done by "miners".

Miners collect the transactions on the network (like "Alice pays Karim 10 bitcoins" and "Liam pays Sofia 8.3 bitcoins") into large bundles called blocks. These blocks are strung together into one continuous, authoritative record called the block chain, which doesn't permit any conflicting transactions. This is necessary because without it people would be able to sign the same bitcoins over to two different recipients, like writing cheques for more money than you have in your account. The block chain lets you know for sure exactly which transactions count and can be trusted (so no bad cheques!).

The way Bitcoin makes sure there is only one block chain is by making blocks really hard to produce. So instead of just being able to make blocks at will, miners have to compute a cryptographic hash of the block that meets certain criteria. Bitcoiners refer to this process as "hashing". The only way to find a cryptographic hash that's "good enough to count" is to try computing a whole bunch of them until you get lucky and find one that works. This is the "lottery" that David Schwartz refers to, because miners who successfully create a block are rewarded some bitcoins according to a preset schedule. The difficulty of the criteria for the hash is continually adjusted based on how frequently blocks are appearing, so more competition equals more work needed to find a block. A modern GPU can try hundreds of millions of hashes per second, so to be competitive in this race to find hashes miners need specialised hardware, otherwise they will tend to spend more on electricity than they make in the "lottery".

In addition to the hash criteria, a block needs to contain only valid, non-conflicting transactions. So the other main task for miners is to carefully validate all the transactions that go into their blocks, otherwise they won't get any reward for their work!

Because of all this work, when a Bitcoin client signs on to the network it can trust the block chain that was most difficult to produce (since this is evidently the one that was being worked on by the most miners). If there was a "fake" blockchain competing with the real ones (say, where someone pretends that they didn't actually give Sofia those 8.4 bitcoins and they still have them), the fraudster would have to do as much work as the whole rest of the network to make their block chain look as trustworthy. So essentially, the intense work that goes into finding blocks through hashing secures the network against fraud. There is also, of course, some nifty code that figures out how to choose between conflicting transactions; and what to do if two people find valid blocks at the same time.

One last thing: why is it called mining? In the original analogy, people who performed this essential work were compared to gold miners digging the gold out of the ground so that everyone could use it. But in reality, Bitcoin "miners" are just running computer programs on very specialised hardware that automates the process of securing the network. To sum up, this software

• Collects transactions from the network
• Validates them, and doesn't allow conflicting ones
• Puts them into large bundles called blocks
• Computes cryptographic hashes over and over until if finds one "good enough to count"
• Then submits the block to the network, adding it to the block chain and earning a reward in return.

[Poink]

I don't think mining altcoins is profitable,or maybe let me rephrase it it: I wasn't making profit in all the altcoins i mined. But you can consider monero for mining, I once tried it. Note that I might take you three months to mine $9. Good luck, I stopped.

Agreed.  That said, ETH difficulty level just shot up so we tried Monero.  The beauty of the 1080Ti is its versatility so we can switch it to mine other coins, especially new ones and hope those gain value over time.  It is fun to get lots of coins too!   LOL  Definitely for long term though and value may never come.  On the flip side, we can dream we are mining the next ETH or BTC   LOL

[rainbow169]

depending on what hardware you have or how much you'd like to invest. Sites like whattomine may help. I personally would prefer ETH due to its consistency and value growth for the long term.

[Opnsrc]

Here is great website where you can see online what altcoin have best ROI at current moment:
http://masternodes.pro/

[anon4250158]

Everyone here is saying ether is one of the best to mine.  You'll need at least 3GB of RAM (probably 4) on your GPU to even be able to mine it, and that has nothing to do with hashrate.  There are a lot of things to consider when getting into altcoin mining, and it might be helpful for you to post your specs.

[cryptocortex]

Is anyone using MinerGate? Is this software accurate in estimating the mining profitability?

[cryptocortex]

Nevermind. From the information I received, people are not being able to withdraw their coins. It's probably a scam.