What would be a smart/logical choice on what alt coin to mine? (or pool)

[JeremyB796]

I just got everything setup to mine and now I'm stump...

What DO or what SHOULD I mine?

...I was mining litecoins and then found out that that feathercoins were a little more profitable...

however, after that, I found https://www.multipool.us/ and that pool switches between what to mine based on profitability...

I also looked into kruggercoins and in a pool I could mine something like 800 of them a day but that equals about a dollar...Would the value of that coin possibly go up making it more worthwhile to mine?
--

Now I wonder...wouldn't it be bad to switch so often like that? If I were to switch to a new coin every round on that pool would I actually make anything?

I just kind of "feel" better about feathercoins because I can redeem them easier...

but what would be a wise choice? using THAT pool and end up mining a little of EVERYTHING or sticking with one coin and which?
----------
Sorry if that is an odd question but I am starting to become a little annoyed with all the sudden fluctuations and all the different coins. I am not knolegable enough to make a good decision. Maybe someone could clarify all of this and help me make a decision.

[cryptopi]

Try:
https://bitcointalk.org/index.php?topic=259649.0

[shakezula]

Bitcoin + the merged coins (DVC, iXC, and NMC) are always a good choice. PPC, LTC, and XPM are also not bad ideas.

[JeremyB796]

Bitcoin + the merged coins (DVC, iXC, and NMC) are always a good choice. PPC, LTC, and XPM are also not bad ideas.

merged coins? I've heard of namecoin but not the others...

[shakezula]

Bitcoin + the merged coins (DVC, iXC, and NMC) are always a good choice. PPC, LTC, and XPM are also not bad ideas.

merged coins? I've heard of namecoin but not the others...

DeVcoin and iXCoin can also be mined with NMC and Bitcoin at the same time. They aren't terribly valuable, but they are extra cents for no extra hashes so why not? Bitparking has a great pool to mine on too, mmpool.bitparking.com.

[hifieli]

What DO or what SHOULD I mine?
...
but what would be a wise choice? using THAT pool and end up mining a little of EVERYTHING or sticking with one coin and which?

That is indeed the game we are playing. You'll get a different answer to that question from everyone that answers it, and a good portion of those answers will likely fall into the category of dis-information. Everyone has a bias of some sort and some can't help but to try and steer readers in a direction that profits themselves more than the readers.

The most profitable advice given to me was to try everything (pool, solo, pick one coin, try lots of coins) and see what works best for you. Everyone has different resources to invest, costs to maintain, and expectations for the results, and differing amounts of patience. The best advice I have been given is to do the research on the different coins and only support the ones in which you truly believe.

[JeremyB796]

Try:
https://bitcointalk.org/index.php?topic=259649.0

wow...that's...

AHmazing.


That surely would solve the headaches of exchanging them at every givin moment

[JeremyB796]

What DO or what SHOULD I mine?
...
but what would be a wise choice? using THAT pool and end up mining a little of EVERYTHING or sticking with one coin and which?

That is indeed the game we are playing. You'll get a different answer to that question from everyone that answers it, and a good portion of those answers will likely fall into the category of dis-information. Everyone has a bias of some sort and some can't help but to try and steer readers in a direction that profits themselves more than the readers.

The most profitable advice given to me was to try everything (pool, solo, pick one coin, try lots of coins) and see what works best for you. Everyone has different resources to invest, costs to maintain, and expectations for the results, and differing amounts of patience. The best advice I have been given is to do the research on the different coins and only support the ones in which you truly believe.

hmm...THAT is a VERY GOOD point.

I have tried calculating every coin I find based on the hashrate (about 360Khash/s) and it is quite hard to get a good answer due to the sudden fluctuation in the rates and difficulties...

It seems that it is always a fight between Mincoin, Cosmoscoin, Digitalcoin, and feather...

I hope to make a decision soon...(I have 8 bat files on my desktop just for different coins, wallets, pools, solo...it a cluster -)

[pbassjunk]

Digitalcoin (DGC) and Worldcoin (WDC)
$.02 ymmv etc

[thef]

What DO or what SHOULD I mine?
...
but what would be a wise choice? using THAT pool and end up mining a little of EVERYTHING or sticking with one coin and which?

That is indeed the game we are playing. You'll get a different answer to that question from everyone that answers it, and a good portion of those answers will likely fall into the category of dis-information. Everyone has a bias of some sort and some can't help but to try and steer readers in a direction that profits themselves more than the readers.

The most profitable advice given to me was to try everything (pool, solo, pick one coin, try lots of coins) and see what works best for you. Everyone has different resources to invest, costs to maintain, and expectations for the results, and differing amounts of patience. The best advice I have been given is to do the research on the different coins and only support the ones in which you truly believe.

hmm...THAT is a VERY GOOD point.

I have tried calculating every coin I find based on the hashrate (about 360Khash/s) and it is quite hard to get a good answer due to the sudden fluctuation in the rates and difficulties...

It seems that it is always a fight between Mincoin, Cosmoscoin, Digitalcoin, and feather...

I hope to make a decision soon...(I have 8 bat files on my desktop just for different coins, wallets, pools, solo...it a cluster -)

Use middlecoin and avoid the headache of having to set up your own system to switch coins every few minutes. You should be using a pool that automatically switches to the most profitable coin unless you have a hunch that some coin is going to dramatically increase in price.

[datguyian]

There's a few ways about it. One is that you mine stuff that is not even on exchange yet, hoping that it is more profitable than anything on coinchoose/coinwars/wheretomine/etc.

There's another way, where you mine the coin that you want to support the most, despite how profitable it will be. At this point, you're only mining it because you support the coin and its services that it offers (or may offer in the future).

And lastly, there's the purist that only mines LTC and BTC because they're the "originals".

So obviously it depends what you're in this for. Myself, I need to make a few extra bucks... so it's rare that I mine something that is on an exchange already (because by that time it's less profitable for me to mine). More often, I mine something that looks promising that is not on exchanges yet (so it has not caught a whole lot of attention... yet). As most things in life, it's a you win some you lose some kind of game...

[JeremyB796]

Digitalcoin (DGC) and Worldcoin (WDC)
$.02 ymmv etc

last time I checked world and digital fell significantly...

(world was quite up there earlier today though...and dgital JUST seemed to fall...uhg)

I think I MAY choose Worldcoin...or nova...that one likes to stay relatively up there...

middlecoin and/or multipool look to be my best bets...

[JeremyB796]

What DO or what SHOULD I mine?
...
but what would be a wise choice? using THAT pool and end up mining a little of EVERYTHING or sticking with one coin and which?

That is indeed the game we are playing. You'll get a different answer to that question from everyone that answers it, and a good portion of those answers will likely fall into the category of dis-information. Everyone has a bias of some sort and some can't help but to try and steer readers in a direction that profits themselves more than the readers.

The most profitable advice given to me was to try everything (pool, solo, pick one coin, try lots of coins) and see what works best for you. Everyone has different resources to invest, costs to maintain, and expectations for the results, and differing amounts of patience. The best advice I have been given is to do the research on the different coins and only support the ones in which you truly believe.

hmm...THAT is a VERY GOOD point.

I have tried calculating every coin I find based on the hashrate (about 360Khash/s) and it is quite hard to get a good answer due to the sudden fluctuation in the rates and difficulties...

It seems that it is always a fight between Mincoin, Cosmoscoin, Digitalcoin, and feather...

I hope to make a decision soon...(I have 8 bat files on my desktop just for different coins, wallets, pools, solo...it a cluster -)

Use middlecoin and avoid the headache of having to set up your own system to switch coins every few minutes. You should be using a pool that automatically switches to the most profitable coin unless you have a hunch that some coin is going to dramatically increase in price.

Yeah...will probably go with middlecoin in that case...let me just fix my miner 

There's a few ways about it. One is that you mine stuff that is not even on exchange yet, hoping that it is more profitable than anything on coinchoose/coinwars/wheretomine/etc.

There's another way, where you mine the coin that you want to support the most, despite how profitable it will be. At this point, you're only mining it because you support the coin and its services that it offers (or may offer in the future).

And lastly, there's the purist that only mines LTC and BTC because they're the "originals".

So obviously it depends what you're in this for. Myself, I need to make a few extra bucks... so it's rare that I mine something that is on an exchange already (because by that time it's less profitable for me to mine). More often, I mine something that looks promising that is not on exchanges yet (so it has not caught a whole lot of attention... yet). As most things in life, it's a you win some you lose some kind of game...

You mean coins that are SOO new that people don't even really know they exist yet?
...I actually understand this logic...I'm probably just going to use middlecoin(or multipool if that goes down)

I will look into this more though.

[GSnak]

Neither of those are bad starter choices. They're not bad even if you've been mining a while.

[datguyian]

You mean coins that are SOO new that people don't even really know they exist yet?
...I actually understand this logic...I'm probably just going to use middlecoin(or multipool if that goes down)

I will look into this more though.

No, not quite that new... More like check the alt crypto section often and see what new coins are out. Some coins take weeks or months to get on an exchange, and during that time, difficulty tends to stay a LOT lower than other coins. CGB, for example, stayed under 1 for difficulty before it was on exchange, and now it's at 5.42. Mining that for a week or two at a lower difficulty was a lot more profitable than mining anything else that was on exchange.

[eule]

Maybe YAC? https://docs.google.com/spreadsheet/ccc?key=0Agw1n7jxRPfRdDFuSUlicFVxY2MzQUdqMURyMHdvZ2c#gid=0 

[nearmiss]

It depends on what your goals are, and how involved you want to get.  The 2 pools mentioned are ok if you want a 'set and forget' solution (middlecoin especially), however its not going to maximize your potential profits.  

Middlecoin is mining what is profitable and selling it in batches at market value at that time (my assumptions here, could be mistaken). Its basically letting someone else do the trading for you.  No holding, no potential to speculate or ride a coin to an increase in value (or a loss, of course).  In theory payments should be rather steady and consistent.

Multipool is giving you 'most profitable' at the time of mining, but of course that doesn't mean it translates in any way to when you actually have accumulated enough coins to sell them.  You end up with a bit of everything, and if you like to play the markets, and rode all the right swings, it could work out well for you.

Both these pools share the same characteristic; they are in it for short term small gains at the expense of potential significant long term gains.  Think of it this way, you could make an extra 5-10, maybe 15% profit mining many different coins and cashing them in, but what if you happened to mine nothing but 'the next ltc' (or even something that ends up half the price), while it was in its infancy and held them for long term growth.  The profit potential could be astronomical in comparison, but of course finding said coin isn't easy these days (hence this thread in the first place)

The other thing with these 2 pools is they are also more or less looking at coins already on an exchange (as far as I'm aware).  As was mentioned previously, its often newer coins not yet on an exchange that can lead to some very nice profits if you've picked the right one.

On a side note, my personal opinion is both of the above pools are doing harm to the current alt-coin crypto environment.  Middlecoin is trading bulk amounts of many different coins at market value on a daily basis, generally driving down prices, and multipool (and middlecoin) hammer coins when diff drops, leaving steady miners looking for long term gains slogging through higher difficulty times.  They both squeeze out room for speculation and real gains I mentioned elsewhere in this post, for the sake of much smaller short term profits.  They are both new enough that we may not see the longer term effects of this for awhile, but it may end up driving many coins to a 0 value game.  For this reason, I personally stay away.   However this personal opinion doesn't really change the rest of this reply, tried to give an unbiased view.

In the end, like most things, your probably going to get what you put into it.  If your able to put in the time, sift through a lot of noise, to find some diamonds in the rough, learn to understand and spot why one coin may end up worth more than others, the rewards are definitely there for the taking, and likely much greater than multi-pool solutions.  But if you don't have this time or aren't interested in getting your hands dirty with it, above 'set and forget' options are available!

[JeremyB796]

It depends on what your goals are, and how involved you want to get.  The 2 pools mentioned are ok if you want a 'set and forget' solution (middlecoin especially), however its not going to maximize your potential profits.  

Middlecoin is mining what is profitable and selling it in batches at market value at that time (my assumptions here, could be mistaken). Its basically letting someone else do the trading for you.  No holding, no potential to speculate or ride a coin to an increase in value (or a loss, of course).  In theory payments should be rather steady and consistent.

Multipool is giving you 'most profitable' at the time of mining, but of course that doesn't mean it translates in any way to when you actually have accumulated enough coins to sell them.  You end up with a bit of everything, and if you like to play the markets, and rode all the right swings, it could work out well for you.

Both these pools share the same characteristic; they are in it for short term small gains at the expense of potential significant long term gains.  Think of it this way, you could make an extra 5-10, maybe 15% profit mining many different coins and cashing them in, but what if you happened to mine nothing but 'the next ltc' (or even something that ends up half the price), while it was in its infancy and held them for long term growth.  The profit potential could be astronomical in comparison, but of course finding said coin isn't easy these days (hence this thread in the first place)

The other thing with these 2 pools is they are also more or less looking at coins already on an exchange (as far as I'm aware).  As was mentioned previously, its often newer coins not yet on an exchange that can lead to some very nice profits if you've picked the right one.

On a side note, my personal opinion is both of the above pools are doing harm to the current alt-coin crypto environment.  Middlecoin is trading bulk amounts of many different coins at market value on a daily basis, generally driving down prices, and multipool (and middlecoin) hammer coins when diff drops, leaving steady miners looking for long term gains slogging through higher difficulty times.  They both squeeze out room for speculation and real gains I mentioned elsewhere in this post, for the sake of much smaller short term profits.  They are both new enough that we may not see the longer term effects of this for awhile, but it may end up driving many coins to a 0 value game.  For this reason, I personally stay away.   However this personal opinion doesn't really change the rest of this reply, tried to give an unbiased view.

In the end, like most things, your probably going to get what you put into it.  If your able to put in the time, sift through a lot of noise, to find some diamonds in the rough, learn to understand and spot why one coin may end up worth more than others, the rewards are definitely there for the taking, and likely much greater than multi-pool solutions.  But if you don't have this time or aren't interested in getting your hands dirty with it, above 'set and forget' options are available!

yeah, I noticed that with those two pools I end up being able to send less shares than normal it seems...and I get new block messages every second too...I don't think they are really big enough to do THAT much damage.

I think middlecoin only does the conversion once a day...so it's just lake multipool but without doing it by hand?
...so in a way...I'm still at the mercy of exchange rates. (what mercy  )

I was looking at some of the new stuff like Philosopherstone...I mined overnight and got 2 superblocks...so now I have 256 of a worthless coin...lol

[JeremyB796]

Maybe YAC? https://docs.google.com/spreadsheet/ccc?key=0Agw1n7jxRPfRdDFuSUlicFVxY2MzQUdqMURyMHdvZ2c#gid=0 

Tried YAC; couldn't get them to work...they're cpu only right?

[SirMintALot]

There is a GPU miner for YAC: https://bitcointalk.org/index.php?topic=247782.0