Profitability Websites

[phaddie]

Hey guys,

  I have been taking a look at the websites that give information on the profitability of different alt.coins.  I am a bit confused by the information the offer.  For instance:

On Wheretomine.com I entered my hashrate (810 kh/s) and selected calculate.  That website claimed that if I mines cinnamon coins which sell for about $0.09 I would mine about $60.00 a day worth or about 600 coins a day.  However I was unable to find a pool where, at my hashrate I was able to make more than about 75 coins a day and the pools stats showed that workers at 2000 Kh/s were only getting ~200 coins a day.  When I investigated a few other coins which coinchoose, coinwarez, and wheretomine called profitable I found the same thing.

What is it I am missing that makes these coins as profitable as the sites indicate?

Thank you in advance

 Phad

[Jamoke]

The problem with mining less popular coins, is that they are much more volatile.  Many of the profitability websites are used by people like you who are looking for the best hash rate possible.   If you follow them long enough, you'll notice that they change somewhat frequently, and that is because people are shifting back and forth between mining these various coins.  Additionally, the exchange rates are sometimes volatile, so assuming you'll mine $60 in a day is dangerous because by the end of the day two things will have changed:   The price of the coin, and the network hash rate of the coin. 

If you are interested in mining lots of different coins, I'd recommend becoming very familiar with the market of each of the coins which you are going to mine.  Understand if it's currently high, or low, and be prepared to sit on your coin until you are comfortable with the transfer rate to something else.  If you are trying to maximize your profit, you have to be informed, and patient.

[phaddie]

Thank you for the reply.  So the discrepancy between the coins those sites claim you can mine at a given hashrate and what I discovered to be the actual amount you can mine have to do with the total hashrate of the network?

  Thank you in advance.

  Phad.

[arashiyama]

It looks to me like the profitability of the BTC is skewed because of out of date difficulty figures. I am not sure about the other coins though.

I use mining.thegenesisblock.com to get an idea.

[hieroglyph]

Yeah this is what has kept me on the sidelines from mining altcoins for the most part.  There is a lot of moving parts and coins to work with.  I think it is best to get a good old game plan and understanding of the coins before diving in.