I have a question on multi mining: There are some sites that compare the most profitable coin to mine within some algorithm. The results there may change frequently. So the best strategy seems to always mine the most profitable coin. I know that there are some mining pools using this strategy.
Now i wonder if I can't do that on my own: Like in week 1, i join a pool that only mines coin A (which is the most profitable one at the time). In week 2 I join an other pool that mines coin B (most profit in week 2). And so on.
I guess there is some mistake in the strategy but I did not figure out which one yet. Maybe you guys can help me?
>guess there is some mistake in the strategy but I did not figure out which one yet. Maybe you guys can help me?
Yeah the mistake is you are a fucking retard. People have been doing this for almost a decade now.
Jayden Clark
Still?
Landon Turner
>still?
Yes, fucking "still"
they aren't mining sha256 but are doing multipool for equihash, cryptonite, etc
Brody Bell
Do you know if they are doing it as a collective or that they are individuals with amateur hashing powers and just always switch pools?
Liam Price
both
>what is nicehash
+
there's a million fucking scripts on github to DIY if you don't want to pay the nicehash fee
David Lee
Thanks!
Jordan Cook
One last thing: If I have a script that switches automatically between coins and I hit a pool where there are tons of hashpower in, I have a little chance to hit the coin. So does the script "know" where to mine to have realistically a chance?
Christopher Green
you need to do some basic research on how pool mining works
the whole point to pool mining is so that you don't have to mine blocks yourself
Isaac Perez
I think I got that. But doesn't one of those scripts you showed me work just for me as an individual? So i always just bring my (very poor) hashing power in and habe low reward chances? I guess one of those multipools runs its own script so I just habe to join the server?
Michael Jenkins
multipool is not solo mining, it's just regular old pool mining with a profitability checker
Christian Collins
what about zpool, bro ?
Ryan Moore
Thanks man
Jayden Peterson
I don't use any of that bullshit
I have 5-6 coins and the requisite configuration scripts and miners set up in an AutoIT script that checks a profitability api every hour and switches if need be
on my nix machines I have the same logic in a cron job
set it up once and save the 1-2% you are paying out of your profits for a 100 lines of code
Grayson Clark
Do you have any basic literature to get into all those specific things?
Anthony Phillips
i don't know anything of coding bro, since i have just 2 rigs...for me is no problem checking 2 times a day
Btw this is still OP here, just switched to PC. Do you have ASIC or GPUs? From what i saw so far, it seems much more profitable to get one of those ASIC things. The hardest part is to get one of those for a reasonable price, right?
Leo Torres
that's awesome brother, and you sell the coins with api ? automatically ? great
Juan Hill
stop trying to solo mine
Samuel Flores
I don't want to really solo mine, my idea would be to switch the pools frequently. So the switching of the entire pool is the "solo" part, and then i would like to stay in the pool for one specific coin until another coin is more benefical and then switch to a pool mining that coin.
Hudson Gutierrez
I don't mine sha256, no one that isn't getting subsidized electricity should. I mine equihash and cryptonite coins like zcash and monero
my exchange handles the autosell for me
Joseph Bell
wow, thats awesome, which exchange ?
Carter Diaz
bittrex
Ryan Gonzalez
Do you think that because of those electricity issues that PoW will be more and more replayced by PoS, so basically mining will die out?
Isaiah Davis
they sell at a fair price ?
Aiden Nelson
there is probably an optimal scaling ratio between PoS/PoW
you can read sunny king's peercoin white paper and listen to some vlad zamfir interviews about casper for a decent background
yes you can choose bid/ask/market
Ryan Flores
>sunny king's peercoin white paper Do you think that it is possible to learn the coding like you described earlier? I have a technical background from university and very basic coding knowledge. Or is the coding required for that things too difficult for a hobby coder?
Justin Wood
to code a multiminer script? it's extremely easy and you can do it in practically any language
Dylan Howard
Nice thanks. Would you, as a complete beginner, still enter the whole mining thing today? I mean I don't want to get rich with it but euqipment should at least pay off after some time and maybe some little profit should be possible in future.
Kevin Howard
probably not
on average you will pay for your equipment costs in about 90 days assuming price/difficulty ratio remains the same. Then of course you can make a profit if you sell your GPUs but the whole endeavor is probably not worth the time and uncertainty at this point, plus you will be dealing with shitheads on ebay that want to scam you because their new GPU is 'artifacting'
the best move would be to buy coins directly or buy amd/nvidia stock if you think there is still profitability in mining
Julian Rivera
I think a 90 pay off is still quite optimistic from what I got so far. If more and more people like me get into mining the hashrate will probably explode so profits will decline significantly. That's my biggest concern: If I already heard about, many others did too, so hashrate is going to moon and all my calculations that I do TODAY are wrong...
Jose Smith
hashrate can't explode atm because there is no GPU supply
you will need to track the new vega stock
but again, not worth your time, especially if your electricity is not subsidized
there are other ways to profit, such as stocking up on GPUs if/when you can and holding them until there is another price spike and then unloading them (as new) on amazon/ebay
but buying 2000w psus, bridging rails, setting up risers, buying many-pcie mobos, kill-a-watt, racks, etc, plus the noise and heat from summer mining just doesn't make sense at this point, especially if you have not set up and tweaked a mining rig before. You will need to create and flash custom bioses and fan profiles, etc.
if you have hydro electrical rates or lived in a cold-weather climate it might make more sense