Topic: New to Mining, Better to Use Multipools or Switch Manually? (Read 195 times)

Yes, Sir. The first time I mine I used Nichash to change the automatic algo, then I read and practiced what I read manually.

it takes a long time to know between manual and auto switch (coin). as well as sacrificing a lot of profit because RIG is supposed to be in use mining, this is done to practice what I read.

but all wasted profit is not a problem for a knowledge. (for me)

I'm not sure how much you paid for that but I have 1 x 1060 6GB windforce and 1x 1070.  Got them both open box at microcenter for under $500 both.

Currently using NiceHash with the new release of HSRMiner only mining neoscrypt and am making $13 to $15 a day for sometime. 

This is why i'm not sold on these ant miners quite yet.  The time it will take to payoff is crazy where  I paid my rig off a long time ago and it's all pure profit.

He makes some good points.  But you still have to figure out how much time you have to devote to mining singles.  If it's better to mine singles, because you have knowledge of that coin, you have to have the time to devote to acquiring that knowledge and continuously keeping up with it.

You know how far you can push a card as far as overclocking on specific gpu's mining a specific algo, which is also another valid point.

Some of my rigs are auto switching algo's and some are mining singles. 

Better switching manually because you have full control for which coin your mining. And you have knowledge about a set of mining coin. Like every algo coin, profitable coin, and you know about GPU characteristic.

You need to figure out how much your time is worth and base your calulations on that figure. 

in the long run profit form switching can be more but not much because the coin you mining right now needs to mature fast and you need to sell it right away for auto switching to matter at all, so if you have time try doing manual switching every now and then when the profit gap is too wide.

I just recently got an L3+, and so far I've been mining with Prohashing.  They say they maximize profits with their algorithm for switching coins, and even after the fee they are paying out more than I'd make mining Litecoin alone.  However, that still only comes out to like $12 a day, and a quick glance at a mining calculator often shows individual coins making more than that at least for a few hours before they go back towards the mean for the popular scrypt coins.  The top coin is often over $20 a day, even if it doesn't stay there for long.

My question to more experienced miners:  Is it a viable strategy to sign up for pools for say the top 5 common scrypt coins and then switch to those as they reach the top?  Just looking at the mining calculators it seems like it would be if you're willing to put in the effort, but the fact that the multipools can't match these figures makes me think I'm missing something.  For a few bucks I probably wouldn't bother, but when the difficulty on a coin drops real low and becomes twice as valuable to mine as the rest, it seems like it would be a good idea.  Is the difficulty that the mining calculators consider actually real time, or does it get immediately capitalized on and the calculators just don't catch up for a while?

Also, for the purpose of this question, I'm not asking about the benefits/risks of holding lots of random coins.  I'd probably just convert them all to Litecoin periodically unless I actually found one I though had promise.