Hey, I'm also a newbie and that is exactly what I'm planning on doing. Sell majority of what I'll earn and keep a bit.
As far as what dare88 asked, there's no difference in terms of concept. You or the multipool will want to mine the most efficient coin at the time, the question is, who will switch faster, you or the pool mod?
Topic: First post! My cryptocurrency investment strategy (Read 880 times)
Hello,
I think that it's a good strategy.
I'm going to do the same, but I'm not sure if it's easier with and auto-change multipool. Is there a bi difference between auto-change and self change?
I have 2,4-2,8 KHash, and just started yesterday.
I think that it's a good strategy.
I'm going to do the same, but I'm not sure if it's easier with and auto-change multipool. Is there a bi difference between auto-change and self change?
I have 2,4-2,8 KHash, and just started yesterday.
I'm the sort of person who is quite enthusiastic about investments in general. I use a variety of investment vehicles: 401k, Roth IRA, DRIPs, 529, P2P Lending, and now of course, cryptocurrencies. This is my crypto-investment plan at the moment:
- mine on multipools for scrypt coins (my current favorite is trademybit.com, a mere 0.5% mining fee!)
- auto-sell my scrypt coins for BTC/LTC
- keep some percentage of my BTC/LTC balance, and sell the rest for USD$ (pays for the mining overhead and provides dollar-cost averaging for my coins)
This way, I generate a USD income stream, but also build BTC/LTC balances for long term holdings. I'm mining scrypt at about 800kh/s but will probably expand to a second, larger rig later this year. What do you guys think? All comments appreciated!
- mine on multipools for scrypt coins (my current favorite is trademybit.com, a mere 0.5% mining fee!)
- auto-sell my scrypt coins for BTC/LTC
- keep some percentage of my BTC/LTC balance, and sell the rest for USD$ (pays for the mining overhead and provides dollar-cost averaging for my coins)
This way, I generate a USD income stream, but also build BTC/LTC balances for long term holdings. I'm mining scrypt at about 800kh/s but will probably expand to a second, larger rig later this year. What do you guys think? All comments appreciated!
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