Newb observations..

[Riptide_NVN]

After a couple weeks it seems we have a few different sorts of miners.

1)  Those that mine a particular type of coin, believe in it's worth, and that it will eventually increase in value substantially.  These are the "holders".

2)  Those that mine whatever is of the most profit at any given moment/day/week then frequently sell/convert it to something else.  The coin they mine may be a trashcoin - it doesn't matter to them one way or the other.

3)  Those that intentionally target trashcoins to mine/buy and attempt to pump/dump.



Have I got this figured out now or am I missing something?  Not trying to be judgmental btw.

Regarding those who fit into category 1.  It seems like one of the challenges here is to try and figure out, as a long term miner or investor, which currencies are going to be the good ones to hold onto.  For instance with privacy currencies there are several options out there that all have some merit one way or the other.  Will one eventually triumph out over the others?  Will there be room for more than one, two, etc. to flourish?  Who can say.

Currently I would place myself as a #1 however that may change as I read/learn more.  Would sure suck to mine a bunch of monero, zcash, etc. and hold it for a few years then have it do absolutely nothing in the long term.  I guess that is the risk those who are in it long term take.  

[ronnylov]

Not sure which category I am but maybe a mix of them all.
First I look for a coin profitable to mine. As beginner I used whattomine.com.
I mine that coin and hold for a while, maybe one or two months.
If it does not feel profitable to mine it can be profitable to hold eveb after quit mining.
If there is a price pump I might sell them.

Lately I have also mined coins that are new and not well known. They might even not be on an exchange.
I mine them while profitability is low. Later they get on an exchange and I have got some coins already.
Maybe sell them or maybe hold, it depends how I feel for them.

It may not always be the top coin on whattomine.com.
Maybe I just feel this coin has a good futute and mine it for a while.

It takes some effort to switch mining algo, optimize hardware and software for a new coin.
Mining is a slow and steady process so I don't beleive in switching too often.
Just find an algo that works well with your hardware and switching between coins using same algo might be a good strategy.

[umine]

I think nobody knows what way is the best. To check all new appeared coins you should spend a lot of time by studying that coins. Also the most of them will be nothing in few weeks-month after start and your mining investment will burned out. It's really hard to find a diamond between crap

[Stewart PT]

My 2 cents.

The coins with the best application will win in the end. Its easier to play the long game, then to care about all the shit coins out there.

[Riptide_NVN]

I'm sticking with zcoin at the moment but am continuing research to see if it makes sense to switch.  Nobody has that crystal ball which tells them the winners and losers.  In some cases at least it's obvious when they are garbage.

Zcoin doesn't seem to fit into that category.  Nor do some of the other private currencies.  They appear to have at least some merit.  It can be difficult to predict what positives/negatives of each currency are going to create the winner or loser.  Or if there may be more than one winner/loser.

Interesting times.

[damNmad]

I'm sticking with zcoin at the moment but am continuing research to see if it makes sense to switch.  Nobody has that crystal ball which tells them the winners and losers.  In some cases at least it's obvious when they are garbage.

Zcoin doesn't seem to fit into that category.  Nor do some of the other private currencies.  They appear to have at least some merit.  It can be difficult to predict what positives/negatives of each currency are going to create the winner or loser.  Or if there may be more than one winner/loser.

Interesting times.

Its true what others saying, can't predict a coin's future, they might turn garbage even they have good white paper or master plan.

ZCOIN seems profitable though, but couldn't find the best miner for it as my current ccminer (Alexis probably) isn't giving the best hashrate, loosing so much yield when compared to what WTM predicts based on hashrate. (using my GTX 1060)

[ronnylov]

As an example I started mining intense coin before it was listed on any exchange. Reason was that it looked like a good project and it still is. I got 320k ITNS in 2 months. Maybe just lucky but I beleive it may get me rich if I hold them a little longer.