How to find the coins at the start to have time for mining on low difficulty?

[Mythe]

At the current price of popular cryptocurrencies, it is not very profitable to mine. How do you catch prospective coins to mining at the start? Especially profitable for specific cards (RX570-580).

[Geraldo]

Tons of source that you can explore. Ann thread, Chat group, blog info, and of course Google. Nahh, that's not easy, I didn't say many sources that you can explore as easies. You can find it. Then the problems are, you should know which coins have a criterion as promising coins.

Since you are GPUs miner, you have more chance. As we know GPUs more flexible related to the algorithm.

[EthanB]

If you are interested in finding coins that are low-difficulty and specifically good for your card to mine then there are some steps you are going to need to take. You're going to need to find some way of identifying projects as soon as they are announced. Once too many people hear about a project the difficult will go up and you will be out of luck. This means that you need to find a way to become one of the first people that hear about the coins/projects/ICOs/Pre-mines before anybody else. I do not know how to accomplish this, but I can somehow understand the framework for how you would go about accomplishing the task you have laid out. After you figure out a way to identify coins and projects before almost anybody else you will then need to figure out the architecture of your GPU. Figure out the architecture of your GPU and then compare this to the architecture of the coin you would like to mine. Make sure that your card's architecture will work well on the algorithm required to mine the coin. Once you have checked these things it's time to start mining and hope that the coin you have selected does not become worthless before you are able to sell your shares.


Your concerns should be :

Find projects before other miners
Identify GPU Architecture
Compare to Coin Algorithm
Coin Value needs to maintain or increase

If you can nail these down then you are golden.

[nsummy]

If you are interested in finding coins that are low-difficulty and specifically good for your card to mine then there are some steps you are going to need to take. You're going to need to find some way of identifying projects as soon as they are announced. Once too many people hear about a project the difficult will go up and you will be out of luck. This means that you need to find a way to become one of the first people that hear about the coins/projects/ICOs/Pre-mines before anybody else. I do not know how to accomplish this, but I can somehow understand the framework for how you would go about accomplishing the task you have laid out. After you figure out a way to identify coins and projects before almost anybody else you will then need to figure out the architecture of your GPU. Figure out the architecture of your GPU and then compare this to the architecture of the coin you would like to mine. Make sure that your card's architecture will work well on the algorithm required to mine the coin. Once you have checked these things it's time to start mining and hope that the coin you have selected does not become worthless before you are able to sell your shares.


Your concerns should be :

Find projects before other miners
Identify GPU Architecture
Compare to Coin Algorithm
Coin Value needs to maintain or increase

If you can nail these down then you are golden.

Thank you Captain Obvious

[EthanB]

Thank you Captain Obvious

I'm sorry, you are welcome to add your own thoughts or are you only interested in being condescending? It would seem this is not obvious information to the person asking this question. All I did was explain some basic criteria, do you disagree with anything I have said or have anything to add? I'm confused what the purpose of your post was.

[nsummy]

Thank you Captain Obvious

I'm sorry, you are welcome to add your own thoughts or are you only interested in being condescending? It would seem this is not obvious information to the person asking this question. All I did was explain some basic criteria, do you disagree with anything I have said or have anything to add? I'm confused what the purpose of your post was.

Well lets look at your steps:

1. Find projects before other miners -  Your exact quote was "I do not know how to accomplish this."  Yet OP's exact question was how to find coins before everyone else!
2 Identify GPU Architecture - He already stated he has RX570-580
3 Compare to Coin Algorithm
4 Coin Value needs to maintain or increase  - This should be obvious.

It is apparent that OP knows what he needs to do:  Find new coins with low difficulty that can be mined with AMD cards, and do it before everyone else joins the bandwagon.

Now, just so I am not totally condescending, I will give some advice

1.  Scan the Altcoin Announcement forums:  https://bitcointalk.org/index.php?board=159.0   The signal to noise ratio is pretty poor and you will have to wade through countless nonsense, but anything new that has gotten big has pretty much started there.

2.  Start checking this blog a few times per day:  http://cryptomining-blog.com/   Posts can be sporadic but it profiles a lot of new miners and algos.  For example I read about Ravencoin and Pigeoncoin there long before anyone was talking about it here.

3.  Check for new versions of cpuminer-opt:  https://github.com/JayDDee/cpuminer-opt/releases   Many times coins will start out as cpu only but a gpu miner will be developed.  Seeing the new algos the miner supports gives you a good starting point to look for new coins.

4.  look at the coins being mined on http://altminer.net/ and https://bsod.pw/  - Many times new coins will end up on altcoin pools like these before getting swallowed up by zpool.  https://www.cryptunit.com is also good.

5.  You don't need to read whitepapers but try to gauge whether the coin brings anything new or if it has a big community following.  XSH is a good example of this.  At first it looked like a verge shitcoin copy but had big support behind it, it will eventually eclipse verge.  Mining new coins is completely speculative.  Bonus points if the coin has had an ICO (like electroneum), has no-premine, and has masternodes.  These things automatically bring some sort of value to the coin.  Negative points if the coin is Neoscrypt, has some stupid purpose like car rentals or real estate blockchains, has a giant pre-mine, puts more of an emphasis on exchanges rather than development, includes a name like "dark, lightning, cash, gold."

6.  Check to see what is paying the most on Nicehash.  Chances are there is a coin that hashrate is going to that most people don't know about.

[EthanB]

There you go. Now that's how you have a conversation. I don't feel like OP made it very clear that they knew everything I presented, regardless of how "obvious" you claim it to be. You have added to the conversation, and we've built from what I've said. I wasn't trying to be the one-stop solution for this user, but lay some frame-work as I have said. There was almost nothing provided in OP, so I thought we start from the bottom up and address more specific questions as they arise. It feels much less condescending now that you've done more than meme on me. I'm sure OP is thankful, too.

[Geraldo]

Both of you has given the best advice, I felt my short opinion above too general at all (after look at yours both). Overall, I agree with you both, combine your both advice would be a good reference for OP.

Just adding some info.

How do you catch prospective coins to mining at the start? + Especially profitable for specific cards (RX570-580).

i.e refer to lower Nethash and Diff. Yes new coins on that criteria, but older coins may also. That's also one of my technics for doing solo mining. Exploring old coins with most miners left it, then check market (most, old coin must have on the market) check buy support at least on half of the current price. Block reward and block time also important. In this situations, would giving much different between solo and pooled mining. And so on...and so on!

nsummy, where's OP, by the way?