We review every rig's performance each morning - typically looking at 24 hour earnings to see if they are inline with predictions.
We have custom software (although quite simple) which pulls api data on coin prices, volume, net hash etc for the different algos and then compare that with the 24 hour earnings and decide whether to switch any rigs.
We wouldn't generally switch coins though unless there was a greater than 10% difference in earnings and the coin was stable in terms of hash/price/volume.
It's very easy to get sucked into chasing the most profitable coin 'right now' and (by the time you actually get some in your wallet to sell) then the price has fallen away from the spike that caused it to get to number one on the calculators or nethash/difficulty increased dramatically as lots of other people switched to it.
Overall don't try to overanalyse the market - pick a profitable coin, stick with it for a while, watch others but change only when you find a coin which consistently offers better earnings.
Topic: Mining multiple cryptocurrencies (Read 171 times)
By multiple cryptos are you referring to the fact of mining more than 1 coin at a time? Yes its possible.
If you have an BTC or LTC ASIC there are pools that merge mine coins. So if the hash is low enough you get creditted on the merge mined coin. Usually the payout is tiny.
If you are mining ETH you can dual mine other coins like DCR SC and PASCAL. The profits are a little higher and higher power consumptions but you make a few pennies a day extra. Just keep in mind your GPUs will run hotter since they will consume about 30 more watts of power to dual mine the second coin.
If you have an BTC or LTC ASIC there are pools that merge mine coins. So if the hash is low enough you get creditted on the merge mined coin. Usually the payout is tiny.
If you are mining ETH you can dual mine other coins like DCR SC and PASCAL. The profits are a little higher and higher power consumptions but you make a few pennies a day extra. Just keep in mind your GPUs will run hotter since they will consume about 30 more watts of power to dual mine the second coin.
How do you choose when to change the cryptocrreuncy you mine, if you can mine multiple cryptos ? I mean, how often do you that ?
sometimes every week or every month or 8 months ago I never switch to another coin and still in ETH. this's the point to switch to another coin depending on the profitable as long as the coin produces the advantage why it should change/switch. How do you choose when to change the cryptocrreuncy you mine, if you can mine multiple cryptos ? I mean, how often do you that ?
There are a lot of altcoins ready to be mine right now. But it is not profitable if you don't have graphics cards or miner like Asics that is not compatible for your rig.
How do you choose when to change the cryptocrreuncy you mine, if you can mine multiple cryptos ? I mean, how often do you that ?
When the current coin isn't giving you a good enough profit, I can move to other coins in a week even a day, it depends on the situation. You should have own calculations to decide when you need to move to the other coins.
I've never use multipool or Algo switching, I do it manually.
I don't. I primarly mine BTC, with a few semi-broken miners on BTCC (mostly for fun). My one GPU rig mines ZCash. Also have some L3s I got a good price for working on LTC. But I don't switch around, no point to that.
Plenty of post on why "profit-switching" pools and approaches are meaningless, not going to repeat that here.
Plenty of post on why "profit-switching" pools and approaches are meaningless, not going to repeat that here.
How do you choose when to change the cryptocrreuncy you mine, if you can mine multiple cryptos ? I mean, how often do you that ?
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