Topic: What is the point of mining anything but ETH? (Read 412 times)

Hi How to make money on the stock exchange Yobit
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Reading this claims daily. They all claim that, but I have not seen a single person backing up their claims with real evidence. I do test on new and different coins daily and let me tell you I have not found a coin that has better earnings per day then ETH for RX amd cards.

So please do tell which coins you talk about that give you 8$ in 4x RX 580. I am dying to know

Does anyone know how staking works in Expanse? Could not find anything on it.

The only reason to mine anything else with RX AMD cards is to find very new coins which are not on any marketplace yet and have low difficulty. Mine them, stock up and wait for them to get listed then dump them for ETH. Its pure speculative mining ofc, but it can yield quite nice profits.

If you go into mining, it's necessary to drip for perspective and merge on pampas otherwise you will lose a lot of money and it's unimportant that you are dripping, because even the quietest coin can shoot very, very well and give a multiplication by 100

What also nobody pointed out and is pretty important to me is the timeframe. It really matters if you look at profitability on a daily basis or have a more longterm goal let's say over the next 2 to 5 years. So if you would make your books in 2 years you would probably add some other factors (usecase, outlook, technology, community etc.) too, right? I currently only mine ETH but I believe that NEO will probably outperform ETH (not market cap, but bigger increase of its price) since it seems a lot of ICO choosing it over the erc20 token and gains massive popularity. Point is, you could also mine coins that have even a negative cashflow but the value of the coin itself will outperform others. Remember the guys who stopped mining Bitcoin in 2013, because they paid so much for electricity? Guess they wished they had kept those machines up :-)

There a like a million reasons and strategies and possibilities, there is no right and wrong. Nobody knows the future, there will be just some people who do better than others but nobody knows currently if he is on the right side ;-)

/edit: And if you're are talking about profits I can give you a tip for free. Sell all your mining stuff and invest directly into coins. It's the simple truth, buying directly gives you so much more profits than mining.... but that's another topic.

The answer is multi-faceted. There is going to be a plethora of reasons for any given person to make the decision to mine something other than ETH. Many people have hardware which performs better on other algorithms, I personally saw a significant increase in my profits switching from ETH to Equihash, ZEC and a couple of others. ETH is more profitable than Bitcoin with my experience and hardware, but certainly it is not the best option for everybody, not even most people. The profitability changes minute to minute as has been mentioned, so sometimes people are just looking for a less saturated market to participate in. Some people have moral objections to ETH, I can't speak for everyone, but even the opening statement is incorrect.

I decide what to mine by comparing benchmarks, difficulties, past performances, price changes and a few other factors. It's an obnoxious, constant question that a lot of people are struggling to figure out all the time. There is no easy answer, but improvements and optimization at every turn has lead me away from ETH and towards certain coins/algorithms. There are programs that compare your profitability across multiple algorithms based on benchmarks and I use these on occasion when I am feeling lazy.

For me though, the point was profit. I am able to use less power, run my cards more conservatively and make more money.

There are tax implications with buying and selling as well though.  Mine a coin hold long term and should be taxed at a different rate if you mine one coin, insta sell it for another.  Some people dont like using exchanges, etc.

Yes, ETH can be mined with Geforce 1050 Ti (4GB).

All 1060, 1070, 1070 Ti, 1080, 1080 Ti are hashing more than 1050 Ti. 1080 is not that great for ETH due to memory type so you should avoid that one.

However, 1050 Ti is one of the most efficient cards (MH/s per watt ratio) and cheapest of them all.

GTX 1070 @ 26 MH/s? Really?

Most 1070's with Micron memory are easily pushing 30.5 - 31.5 MH/s on ETH.

Lets take average 31 MH/s which according to your calculation gives:
         GTX 1070 @ 31 mh  = $59.62/mo

Now, we get $59.62 at ~105 watts power limit for ETH. I assume you are burning at least 150 watts on ZEC, right?

Claiming ZEC is more profitable than ETH shows lack of understanding....    

Can ETH be mined with GEFORCE 1050 Ti or is there something better?

yeah..I make significantly more WITH AMD cards mining "shitcoins" using neoscrypt and lyra2rev2. 4x 580's make me ~8$ a day on average, a little under 9$ a day if dual mining. I am doing 13-14$ a day mining other stuff an exchanging it myself.

there i stopped reading good thing is that many fucktards think like this, so real miner can make real profit

Yes, everyone uses whattomine and hashing power transfers fast from coin to coin and everything evens out pretty fast

That makes sense especially cause most of the time its really not a big difference in profitability.

1. I can mine it with my 2GB cards too
2. I don't have tons of hashpower, so I'd have to wait a month to hit ETH payment threshold
3, its simpler this way, directly to exp wallet instead eth to exchange, swap eth for btc, swap btc for exp, send exp to wallet

Ok so with a situation like this. You are mining expanse because of the low mcap and potential price increase, along with staking. Why not just mine a more profitable coin, which is usually not expanse, and buy expanse that day, week, month etc?

Well, seeing how its both low value and low cap, yet pretty good at developing stuff, I hope they'll skyrocket sooner or later.
But their PR has a lot to be desired (for example, almost noone knows they're both POW and POS coin), I guess we'll see next few months

Seems I'm not the only one

https://twitter.com/needacoin/status/969329368031023104

Do you like expanse as a project or do you just think that it will pump harder than any of the other potential candidates to mine?

Yeah I personally dont ming ETH im always on PIRL but someone asked me why not just mine ETH and buy PIRL if thats what I really wanted. Beside from the fact that its just easier to stay on one thing for awhile vs switching all the time i didnt have an answer if ETH was in fact the most profitable coin to mine for the day/week/month. I gues it all comes down to when you plan on selling the coin you deem the "most profitable" for a timespan