Anybody Mine Low Sell High?

[architectonik]

Hello. I am a noob to mining and currently have hardware in route to build my single gpu rig with growth potential up to 7/8 gpus. My question is this...

What are your thoughts on mining coins that are low in value? Is anyone having success with low value altcoins?

Thanks

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[1715576545]

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[Gigglemaster]

What are you thinking about mining?

Me and a friend are planning on building a similar rig

[architectonik]

Im thinking of mining low priced altcoins hoping for that bitcoin effect again. Maybe a full week per altcoin.

[infer]

Mining with low value may give you a lot of profit after a long-term holding. However, why dont you mine high value coins and use the profit to buy the low value mineable coins? For example, mining ethereum classic is not profitable as mining ethereum. But in the future, the price of ECT may increase and you can have a big profit from holding it. THerefore, mining ethereum and use ethereum to buy ethereum classic will be the best way to earn a huge amount of money.

[HashFace]

The problem with mining low value alt coins is that you can often purchase them on the exchange for less than the cost the electricity and "wear and tear" on your equipment.  In other words, you'd be better off not mining, and putting the cash you'd spend on equipment and power into a direct purchase through an exchange.

But mining can still be profitable, and a way to get the coins you really want.  There are websites that will give you the profitability of mining various coins based on your equipment, electricity rates, difficulty, block times, etc.  The best thing you can do is mine the most profitable ones, then you can exchange the coins you mine for whatever coins you really want. 

[BitcoinArsenal]

Some time ago I tried to mine some cheap coins. The chance to mine some blocks is much higher if the difficulty is low and you can mine with desktop pcs and laptops or with some ASIC miners. But more and more professional miners found their way into the business and as soon as the big coins get harder to mine they switched to profitable coins with low market cap and difficulty. That completely destroyed the chance for small miners and I stopped to mine myself.

[monkfishy]

Calculating mining profits should be done from the perspective of today's price, comparing the relative gains of all coins. Then picking the most profitable.

If the efficiency is higher in coin x than coin y, it's better to mine coin x. And buy coin y if you want exposure towards its possible long term growth.

[architectonik]

Great feedback. Thank you guys!

[batang_bitcoin]

What are your thoughts on mining coins that are low in value? Is anyone having success with low value altcoins?

What are the low valued coins you are considering? There are some low valued coins that are good for holding like SIACOIN and with this coin it's better to hold and wait for it's peak. The good thing about mining those low valued coins is that you can have them with quantity and can have a lot of it and if you are lucky enough there will be the time that it will be pumped unexpectedly. Why not try a dry run or test for a week or month?

[CyberKuro]

The problem with mining low value alt coins is that you can often purchase them on the exchange for less than the cost the electricity and "wear and tear" on your equipment.  In other words, you'd be better off not mining, and putting the cash you'd spend on equipment and power into a direct purchase through an exchange.

Indeed, the biggest expenses for mining is electricity, so it's not worth if altcoins that you generate can not cover the expenses.
There are some profitable altcoins to be mined such as ethereum, zcash, litecoin and monero, the rest of altcoins; I'm not so sure.
You can check this site; https://www.coinwarz.com/calculators to calculate your mining profitability, just fill the amount of hardware, electricity costs, the coins prices and so on.

[architectonik]

Once i get up and running, I will definitely try some weekly dry runs and see what happens. Calibrate between overclocking and low energy settings and see what happens. Thanks guys. This is such a facinating thing. I've built my own PC before for 3D modeling before...can't wait to get this rig up and running.

[deepcryptomine]

Some time ago I tried to mine some cheap coins. The chance to mine some blocks is much higher if the difficulty is low and you can mine with desktop pcs and laptops or with some ASIC miners. But more and more professional miners found their way into the business and as soon as the big coins get harder to mine they switched to profitable coins with low market cap and difficulty. That completely destroyed the chance for small miners and I stopped to mine myself.

I am a new to crypto and this has been my strategy so far. I mine altcoins and trade those for btc. I do keep some just in case. However for sometime now I am not able to find any coins that I can mine and get some profit. I think AEON was the last one. Even the new coins are harder to mine after couple of weeks after the launch.

[zoata87]

Some time ago I tried to mine some cheap coins. The chance to mine some blocks is much higher if the difficulty is low and you can mine with desktop pcs and laptops or with some ASIC miners. But more and more professional miners found their way into the business and as soon as the big coins get harder to mine they switched to profitable coins with low market cap and difficulty. That completely destroyed the chance for small miners and I stopped to mine myself.

I am a new to crypto and this has been my strategy so far. I mine altcoins and trade those for btc. I do keep some just in case. However for sometime now I am not able to find any coins that I can mine and get some profit. I think AEON was the last one. Even the new coins are harder to mine after couple of weeks after the launch.

yeah mining is not profitable anymore

[addias]

Think long term, find a few coins that have a good community. Then, you should mine and hold if you can afford it. The quick turnaround is a suckers game.

[styca]

I don't think mining is worth it. It's more profitable to just buy some coins and then build them up through trading. I suppose if you had extremely cheap electricity though, it might be different.

[Winner]

Hello. I am a noob to mining and currently have hardware in route to build my single gpu rig with growth potential up to 7/8 gpus. My question is this...

What are your thoughts on mining coins that are low in value? Is anyone having success with low value altcoins?

Thanks

It's not like it would do anything much really since people might not be interested in it 5 years from now. Who knows.

[bayong]

I have mine bitcoin before and now switch to ethereum and these two give profit for me for a long time, it is also good to mine new alt-coin now specially to thus newly start alt-coins.

[UnknownX]

Mine high sell and buy low

[Kinieter]

well with my sub 10 cent electricity
, i mine small coin , and just holding it for now

sell the coin next year , the gpu for mining got 2 year warranty , so waiting a year for selling high isnt bad idea for me

[xaviervilla]

Hello. I am a noob to mining and currently have hardware in route to build my single gpu rig with growth potential up to 7/8 gpus. My question is this...

What are your thoughts on mining coins that are low in value? Is anyone having success with low value altcoins?

Thanks

I still suggest self study and self research for everyone like you.

Ok, to answer your question: I really prefer mining low priced altcoins because they really do give big profits mostly after holding the mined altcoins long term. Although it has great profits, I suggest you to study every low proced altcoins first before you jump into it head first. Try to analyze if it has great visions or potential. You can ask yourself questions like:  Is it first of its kind, or are there any competitors that are better, are its promises possible or too good to be true, etc., always try to understand any coin that you wanna mine so that you know what you are getting yourself into.

[ss890]

Mining low value coins and selling high was good opportunity a year ago or so. It's not now because the vulnerability of the coins being dumped at accelerating rate has increased a lot. Many time it is happening that we mine low valued coin but the coin never gets the value back up with no time. It's complete loss and it gets hard to pay off the mining maintenance as well as electricity bills.


Better go for ether if mining with gpu because ether will at least assure us that it will go up with its price in future and dump itself all the way down to zero. If you feel the difference then try better valued coins only.

[Steven3iii]

Mine high sell and buy low

This. The only way to make a profit at all. Nobody can predict the future. Try to pick useful coins to hodl....

[joeydangerous]

Hello. I am a noob to mining and currently have hardware in route to build my single gpu rig with growth potential up to 7/8 gpus. My question is this...

What are your thoughts on mining coins that are low in value? Is anyone having success with low value altcoins?

Thanks

Success with small mining rigs? No.

You won't find that many people having success with using small mining rigs, you'd have to spend some money for some income.