When price is down is more profitable to mine and then wait for price to go up but you don't know which coin is going to go up and by the time you take note of an alt coin when it's already late but not too late, you can also get much more than just bitcoin mining if you mine the most profitable alt coins and convert them into bitcoin preferably trying to exchange them after you've accumulated enough amount to worth it after fees deducted on your own or always check 4-5 other exchanging sites for the price before automatically accepting whatever the pools are paying you.
You could also check this profit calculator.
Topic: Mine as price goes down or up? (Read 409 times)
it is best that you ask this from the mining guys in the mining boards.
but the thing that you need to pay attention to is how much you are earning not how the price is going up or down. it can go as high as it wants but you still earn less than you can earn by mining bitcoin.
do some calculations, you can even use some online tools like coinwarz mining calculator. see how much you earn with bitcoin and how much you earn with whatever the altcoin is.
but the thing that you need to pay attention to is how much you are earning not how the price is going up or down. it can go as high as it wants but you still earn less than you can earn by mining bitcoin.
do some calculations, you can even use some online tools like coinwarz mining calculator. see how much you earn with bitcoin and how much you earn with whatever the altcoin is.
I am running multiple operations from CPU, GPU and ASIC mining. I use zpool for my ASIC mining so I can get the currency payout I want. The question is, as I watch my wallets on Bittrex and decide on which currency to focus on (ASIC mining only). Should I be mining as price is going up or down in relation to BTC? The logic being, as I hash out sha256 coins, and get paid in one of the 4 cryptos that I want. Does the rising price and the exchange rate from the other currencies being mined result in a higher unit volume?
There is no correlation between the price increase or decrease with btc. You must know main concern is not on the price but the difficulty of the mining.
The price increase or decrease will not be affecting how many the amount of coin can you generate through mining.
As far as i know if due to the price increase and volume will make the difficulty being increased too.
The unit volume depends on your hashrate power and difficulty of your interested coin.
The market is all speculation and cryptocurrency is highly volatile. If you are mining and trading what you mined, then it depends on your perception of the coin you are mining. If you think it will increase in the next week or month, even if the price crashes now, you should continue to mine it. People will shift to another coin making the competition easier, and gives you more coins.
And if you are worried about the price or profitability of your mining, then you should choose multipool mining since they are mining the most profitable coins that moment and convert it to BTC.
And if you are worried about the price or profitability of your mining, then you should choose multipool mining since they are mining the most profitable coins that moment and convert it to BTC.
Hello,
Feel like I know you all so well. I have been lurking in the shadows for a few months. Finally reached that point where I am looking at optimizing my mining for profit and trading into other currencies.
If this is a newb question, I ask your forgiveness and consider the plethora of newb questions I was able to research and resolve, via great communities like this one, prior to blasting a 1000 newb questions during my journey.
I am running multiple operations from CPU, GPU and ASIC mining. I use zpool for my ASIC mining so I can get the currency payout I want. The question is, as I watch my wallets on Bittrex and decide on which currency to focus on (ASIC mining only). Should I be mining as price is going up or down in relation to BTC? The logic being, as I hash out sha256 coins, and get paid in one of the 4 cryptos that I want. Does the rising price and the exchange rate from the other currencies being mined result in a higher unit volume?
I ask, due to the axiom, buy low, sell high. Which I do do, when I exchange currencies into another.
I sincerely appreciate your feedback. If even just a link to a related question (that I was unable to find).
Thank you.
Plainkoin
Feel like I know you all so well. I have been lurking in the shadows for a few months. Finally reached that point where I am looking at optimizing my mining for profit and trading into other currencies.
If this is a newb question, I ask your forgiveness and consider the plethora of newb questions I was able to research and resolve, via great communities like this one, prior to blasting a 1000 newb questions during my journey.
I am running multiple operations from CPU, GPU and ASIC mining. I use zpool for my ASIC mining so I can get the currency payout I want. The question is, as I watch my wallets on Bittrex and decide on which currency to focus on (ASIC mining only). Should I be mining as price is going up or down in relation to BTC? The logic being, as I hash out sha256 coins, and get paid in one of the 4 cryptos that I want. Does the rising price and the exchange rate from the other currencies being mined result in a higher unit volume?
I ask, due to the axiom, buy low, sell high. Which I do do, when I exchange currencies into another.
I sincerely appreciate your feedback. If even just a link to a related question (that I was unable to find).
Thank you.
Plainkoin
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