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Topic: New to Mining (Read 788 times)
Joestop74
(OP)
Newbie
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Activity: 17
Merit: 0
New to Mining
August 13, 2014, 05:08:37 PM
#1
For months I've just been doing CPU mining, but now have a couple ASICs.
What do you recommend in altcoin mining?
Multipool? a specific coin? Thanks.
I have a 5.2 Mhs and a 1.3 Mhs miner.
atsuky
Sr. Member
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Merit: 250
Re: New to Mining
August 13, 2014, 05:16:29 PM
#2
The way to get more profit is try to mining new alts and try to sell when hit a big market, but in scrypt algo not much coins relased, so you can try to rent your rigs to betarigs or similar webpages or just mine on multipool
Joestop74
(OP)
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Re: New to Mining
August 13, 2014, 05:26:47 PM
#3
Yeah, I thought about renting too...
Might look into that
Equate
Hero Member
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Merit: 500
Re: New to Mining
August 13, 2014, 05:29:36 PM
#4
Mining profitability is too low these days and even chances of instamining are less as new Scrypt coins are not released more or less , so better rent your rig or mine LTC ad hold for months hoping that it may rise as happened last year
notlist3d
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Merit: 1000
⇾
Re: New to Mining
August 13, 2014, 06:14:42 PM
#5
With altcoins a lot of it now is pump and dump. (they mine and instantly sell for BTC). You most likely are better off mining a good alt coin and holding in most cases. At current rate it takes a lot of Scrypt power to make compete.
I love Scrypt sadly it is hard to do ROI calculations compared to bitcoin machines.
Best bet is hold and as difficulty goes up your coin's hopefully become worth more. Keep in mind not all altcoins are equal on having a future.
Joestop74
(OP)
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Merit: 0
Re: New to Mining
August 13, 2014, 06:50:30 PM
#6
Thanks for the advice. I've wanted to stay away from pump and dump.
I've been getting some LTC and Doge right now and am ok with that.
Might rent it on a pool so that I can mine when not renting.
notlist3d
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Re: New to Mining
August 13, 2014, 07:48:50 PM
#7
Quote from: Joestop74 on August 13, 2014, 06:50:30 PM
Thanks for the advice. I've wanted to stay away from pump and dump.
I've been getting some LTC and Doge right now and am ok with that.
Might rent it on a pool so that I can mine when not renting.
LTC and Doge are two good coins on alt's. All personal opinion i think both will go up long term. LTC is more of a for sure thing i think it's just timeline no one knows. Doge i just like so I hope it does well.
azguard
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Crypto-News.net: News from Crypto World
Re: New to Mining
August 13, 2014, 09:06:30 PM
#8
Monero will be mime choice, considering price of electricity and price of this coin, at least in my country.
Try to find some coin that have good market price and low diff, also find some coin on market that have good rates or try multipool.
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crowetic
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https://crowetic.com | https://qortal.org
Re: New to Mining
August 13, 2014, 10:35:04 PM
#9
Quote from: azguard on August 13, 2014, 09:06:30 PM
Monero will be mime choice, considering price of electricity and price of this coin, at least in my country.
Try to find some coin that have good market price and low diff, also find some coin on market that have good rates or try multipool.
Except for the fact the OP was talking about SCRYPT, and XMR is about as far from SCRYPT as a chicken sandwich.
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