I would rather see my hashing power get used to actually be mining coins that have a future, new coins and undervalued coins.
This is a pretty tall order and some might say requires a crystal ball - seriously. It boggles my mind sometimes as to which coins get traction and which ones do not.
Some times when it appears the Devs have only invested minimal time the coins take off and others with POD, concise road maps and the devs are active and adhere to the road maps flounder. Go figure!
I've personally agonized over this question as a pool operator because at least 10 times every day on our chat board I get asked "What's the best coin to mine" and it's the same question I've been asking myself for nearly a year now since I started mining myself.
that's led me to a few conclusions after I took the time to start developing calculations and algorithms to determine "what's the best coin to mine"
1) Conclusion #1 - what's best for people varies with the amount of MH they have to mine with.
2) Timing is everything - the advantage in mining goes to those who are able to respond fastest to changing network hash rates and changes in values
3) There's no such thing as a crystal ball - seriously - I gave up on trying to predict value trends because they can change in an instant - all it takes is one whale to bury a coins value and they typically don't recover quickly from the dump. This is one area where I was able to do A LOT of research and testing because I'm a developer and work with a hedge fund and have access to some of the best trend prediction software available.
4) some times..like in the movie "Risky Business" - you gotta say "WTF - Make your move" and this mean you have to take a chance. Opportunities arise form time to time to mines coin that others have fled for various reasons - most notably "questions as to which fork is the correct fork" and 2) the wallet is locked down on the only or primary exchange for the coin and the devs are unresponsive in getting it fixed and that's when network hash plummets and the coins are easy pickens. It's a roll of the dice but you can stack the deck if you're resourceful.
But the good news is that I haven't given up and have been working on software that will actually help miners pick "the best coin to mine" and so far in it's 'less than fully automated state" it's been working really well for me.
more to follow.
