coin hopping question | Bitcointalksearch.org

iamnewhere

full member

Activity: 168

Merit: 100

Quote from: brainbudt on July 09, 2017, 01:32:16 PM

Hello

I have an idea for a while and I know it could be done easily, but my question is if it's worth it.
That you create a program that check whattomine current profit coin and mine that coin and check it X amount of time so that if a different coin is more profitable then switch to that coin.

please give me your thoughts

why you want to mine the coin which gives RIGHT NOW the best profit?
till you have something mined to sell it might be dropped already and then you have mined with many others who go for "best" coin (so less outcome anyway for you due to rising difficulty).
You need huge mining power that you can farm like that within few hours like nicehash can do.

yerfei

member

Activity: 74

Merit: 10

Quote from: brainbudt on July 09, 2017, 01:32:16 PM

Hello

I have an idea for a while and I know it could be done easily, but my question is if it's worth it.
That you create a program that check whattomine current profit coin and mine that coin and check it X amount of time so that if a different coin is more profitable then switch to that coin.

please give me your thoughts

Look for Winminer ,they doing this
https://bitcointalksearch.org/topic/winminer-v1126a-auto-switch-windows-app-for-multi-miner-optimization-2004875

Heimer

sr. member

Activity: 518

Merit: 250

It depends. Probably the best practice is to stick to one coin, mine it, wait, wait, wait and then sell for huge profit (like ETH/Zcash in the past)

modzer0

newbie

Activity: 41

Merit: 0

I've written my own custom scripts that do exactly this. There are also at least 3 other pieces of software in these very forums that will do auto profit switching for you. miningpoolhub supports auto switching and auto exchange.

Is it worth it? Depends on what you want. You probably need to do something right away with whatever you mine to take advantage of that max profit. Trade it for bitcoin, or other coin of interest, or sell for fiat. miningpoolhub will auto exchange whatever you mine to whatever coin you want. So let's say you're interested in ETH because you think that's going to have a big increase in the future and make you rich, you could mine whatever is most profitable and auto trade it to ETH, so then you might end up with more ETH than if you'd mined ETH directly.

Or trade it all to bitcoin and just leave it, or use it to invest in various other coins.

So my thoughts are it can be worth while, but it really depends on your goals.

wilkas

member

Activity: 104

Merit: 10

You're talking about NiceHash app

brainbudt

newbie

Activity: 11

Merit: 0

Hello

I have an idea for a while and I know it could be done easily, but my question is if it's worth it.
That you create a program that check whattomine current profit coin and mine that coin and check it X amount of time so that if a different coin is more profitable then switch to that coin.

please give me your thoughts

Topic: coin hopping question (Read 457 times)