Topic: Fool-Proof guide for newbs wondering which coin to mine. (Read 842 times)
Great info, thanks for the link
this is even better http://www.coinchoose.com/
I don't think you understood. How long do you mine before selling? Is the price when you have actually mined the coin still as good as it was when the sites told you to go mine that coin? Also it is not difficulty but actual hashing currently happening that decides your real chance of getting coins.
Re-read my post maybe.
-MarkM-
Re-read my post maybe.
-MarkM-
Got you now, yea that's why in Post 4 I reminded to sell your coins it at least once a day, because alt coins are always under speculation and manipulation, if you mine the wrong coin you will only lose 24 hrs worth that way.
I don't think you understood. How long do you mine before selling? Is the price when you have actually mined the coin still as good as it was when the sites told you to go mine that coin? Also it is not difficulty but actual hashing currently happening that decides your real chance of getting coins.
Re-read my post maybe.
-MarkM-
Re-read my post maybe.
-MarkM-
Such websites probably work best if you take a contrarian approach, unless they actually can compute the hashing power on a coin by timing the blocks or something.
If they just look at the difficulty, which for some coins won't change for a long time, then probably when the difficulty goes down so many miners jump on it imagining it is profitable as reported by such sites that actually you are less likely to find a block than when difficulty is higher and all the miners move elsewhere.
Plus the exchange rates too are probably misleading, as a good rate is not something you are likely to get in a few hours when you have actually managed to mine some of the coins, it is something the people who already mined them back when such sites claimed they were "unprofitable" that have coins on hand to sell that those good prices. By the time you actually mine some - assuming you even get any since the whole gangbang crew will all be there too all thinking it is "profitable right now" - the exchange rate will be back down again from people who already got the coins skimming the good prices.
So doing pretty much the opposite of what such sites indicate is very likely more lucrative than following the lemmings who believe such sites.
-MarkM-
If they just look at the difficulty, which for some coins won't change for a long time, then probably when the difficulty goes down so many miners jump on it imagining it is profitable as reported by such sites that actually you are less likely to find a block than when difficulty is higher and all the miners move elsewhere.
Plus the exchange rates too are probably misleading, as a good rate is not something you are likely to get in a few hours when you have actually managed to mine some of the coins, it is something the people who already mined them back when such sites claimed they were "unprofitable" that have coins on hand to sell that those good prices. By the time you actually mine some - assuming you even get any since the whole gangbang crew will all be there too all thinking it is "profitable right now" - the exchange rate will be back down again from people who already got the coins skimming the good prices.
So doing pretty much the opposite of what such sites indicate is very likely more lucrative than following the lemmings who believe such sites.
-MarkM-
You can go to exchange sites and confirm the numbers, actually you can also compare it to Google Spreadsheet trading on this forum, the numbers are petty spot on. I have followed this website for 2 weeks and you can pretty much blindly follow it except for TRC which is VERY unstable do to ASICs.
Such websites probably work best if you take a contrarian approach, unless they actually can compute the hashing power on a coin by timing the blocks or something.
If they just look at the difficulty, which for some coins won't change for a long time, then probably when the difficulty goes down so many miners jump on it imagining it is profitable as reported by such sites that actually you are less likely to find a block than when difficulty is higher and all the miners move elsewhere.
Plus the exchange rates too are probably misleading, as a good rate is not something you are likely to get in a few hours when you have actually managed to mine some of the coins, it is something the people who already mined them back when such sites claimed they were "unprofitable" that have coins on hand to sell that those good prices. By the time you actually mine some - assuming you even get any since the whole gangbang crew will all be there too all thinking it is "profitable right now" - the exchange rate will be back down again from people who already got the coins skimming the good prices.
So doing pretty much the opposite of what such sites indicate is very likely more lucrative than following the lemmings who believe such sites.
The one thing they DO have right is merged mining gets you more profit than mining only bitcoins, but they leave out four of the seven (or is it five of eight) merged mine able coins so you don't see all the goodies merged mining can get you.
(CLC and XGG should be shown on the http://galaxies.mygamesonline.org/latestrates.inc readout next time it is generated, maybe that will help some.)
-MarkM-
If they just look at the difficulty, which for some coins won't change for a long time, then probably when the difficulty goes down so many miners jump on it imagining it is profitable as reported by such sites that actually you are less likely to find a block than when difficulty is higher and all the miners move elsewhere.
Plus the exchange rates too are probably misleading, as a good rate is not something you are likely to get in a few hours when you have actually managed to mine some of the coins, it is something the people who already mined them back when such sites claimed they were "unprofitable" that have coins on hand to sell that those good prices. By the time you actually mine some - assuming you even get any since the whole gangbang crew will all be there too all thinking it is "profitable right now" - the exchange rate will be back down again from people who already got the coins skimming the good prices.
So doing pretty much the opposite of what such sites indicate is very likely more lucrative than following the lemmings who believe such sites.
The one thing they DO have right is merged mining gets you more profit than mining only bitcoins, but they leave out four of the seven (or is it five of eight) merged mine able coins so you don't see all the goodies merged mining can get you.
(CLC and XGG should be shown on the http://galaxies.mygamesonline.org/latestrates.inc readout next time it is generated, maybe that will help some.)
-MarkM-
This is actually a pretty good website 
BTC is the standard that all scamcoins try to pump and dump to!
BTC is the standard that all scamcoins try to pump and dump to!
Also, try to exchange for BTC on a daily basis, altcoins are almost all the time under manipulation and if something goes wrong you will only lose 1 day of mining
O YEAH
5 STAR QUALITY POST RIGHT THERE
Thanks
5 STAR QUALITY POST RIGHT THERE
Thanks
+1 , have a retina scanner
It is pretty good
O YEAH
5 STAR QUALITY POST RIGHT THERE
Thanks
5 STAR QUALITY POST RIGHT THERE
Thanks
http://dustcoin.com/mining
The higher the ratio, the higher your profit.
Most profitable as of now is Frecoin with 373.95%
You can mine this coins and then exchange them for BTC at BTC-e or whatever exchange site that trades whatever coin you mined. You can check every 12hrs/24hrs to see which one is the most profitable and redirect your miners.
The higher the ratio, the higher your profit.
Most profitable as of now is Frecoin with 373.95%
You can mine this coins and then exchange them for BTC at BTC-e or whatever exchange site that trades whatever coin you mined. You can check every 12hrs/24hrs to see which one is the most profitable and redirect your miners.
Jump to: