The coin he mentions is brand new, and probably at the lowest price it ever will be. In fact, based on today's price increase that same rig will make $22 per day.
I think my point here is with a new coin like uPlexa, assuming the project looks good and the dev's are active, it's worth mining a load of them at any price in the early days!
But yes, for continuous profit with an established coin, you are correct, only very large rigs and ASICS will make real money. For me though, mine the new coins! Most of them will be crap, but you only need one to be successful!
You say that but I could turn it around and write
"The coin he mentions is brand new, and probably at the highest price it ever will be."
...and in many cases, history will say that I probably wouldn't be wrong.
IMHO CPU coins are profitable if you have an network of computers, an array of servers or a botnet. Using spare cycles of CPUs for mining would be an awesome thing for big firms to make extra $ on. On a mining@home scale, there's just no point.
Good points, but agree to disagree (to an extent). I made £500 in 2 weeks last year, mining a 'new' coin. I couldn't make a £1 in a week now, mining the same coin.
If you're a little miner, you have to get in there immediately. Keep abreast of upcoming projects, be part of the wider discord communities etc. Hey, it's a lot of work!
And I hear you re new coin prices, but as I mentioned, that particular coin is 27% up today.....so it's already higher than it was
Good talk! Nice to hear some valid arguments, rather than dick-swinging, for once
lol
