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