Help selecting a Crypto Currency.

[montyrule]

So, I would like to start mining Some sort of Crypto Currency, to make a little extra money. But trying to find a good one to start with is not easy. I know it will take me ages to get anything meaning full back, just would like to put my hard ware to good use. 

 

What would you guys recommend?

[ImBleu]

I'd recommend not trying to mine any crypto currencies.

 

2013 was a few years ago. You're a bit late to the party. You'll pay more in annoyance, power and longevity of parts than you will earn from any of the currencies. Put your spare horsepower to use with BOINC or F@H.

[Imakuni]

4 minutes ago, montyrule said:

So, I would like to start mining Some sort of Crypto Currency, to make a little extra money. But trying to find a good one to start with is not easy. I know it will take me ages to get anything meaning full back, just would like to put my hard ware to good use. 

 

What would you guys recommend?

Do you even realize what you are asking for?

 

Let me rephrase it for you. You are basically saying: "I want a program which I just install and effortlessly makes money for me, without me really doing anything".

 

Sounds ridiculous? That's because it is. If that was reasonable, every person in the world would be rich by now. Coin mining is DEAD for regular people. The MAX you can do is Folding and participate in the EVGA Bucks program to net you a few dollars per month, but THAT'S IT. Forget mining. The train has long left the station. Never, ever consider talking about it again, with the sole exception of explaining how dead it is to unadvised people (like I'm doing right now).

[daniellearmouth]

Just now, montyrule said:

I know it will take me ages to get anything meaning full back

So don't bother.

 

There is too little benefit in doing it at this point now, simply down to most currencies being pointless and bereft of value, the ones that did have value no longer do, or the difficulty of it is just impossible for newer miners to overcome.

 

You'll also be spending more on your power bills than you will be earning any sort of cash, simply because of mining being a complete power black hole.

 

Had you asked this question three or four years ago, I would have told you to go Bitcoin or Litecoin; that's where the money is.

But since you ask this now, I can't recommend bothering anymore.

[Mazeman03]

Just answer his question its against TOS or COC to make a post not answering the questions so everyone who didn't should be reported.

 

just use ASIC machines to mine Bitcoin it's your best bet

[montyrule]

8 minutes ago, ThatCoolBlueKidd said:

I'd recommend not trying to mine any crypto currencies.

 

2013 was a few years ago. You're a bit late to the party. You'll pay more in annoyance, power and longevity of parts than you will earn from any of the currencies. Put your spare horsepower to use with BOINC or F@H.

Thank you! Someone helpful! 

[daniellearmouth]

Just now, Mazeman03 said:

Just answer his question its against TOS or COC to make a post not answering the questions so everyone who didn't should be reported.

We did.

 

We answered with "no", albeit in varying points from "there's no point anymore" to "they're not worth anything anymore" to "you're wasting your time asking".

[daniellearmouth]

7 minutes ago, Mazeman03 said:

just use ASIC machines to mine Bitcoin it's your best bet

If anything, that's worse.

 

Not only does this mean the dude has to buy yet more hardware before he can do anything - which already makes the profit margin go down to the earth's mantle - he would also be spending yet more on electricity, and would be trying to mine something that is overly difficult to mine.

 

According to CoinDesk.com, the difficulty of Bitcoin three years ago to this day was 3,275,464.50. Today, it is 144,116,449,280.00.

It has increased nearly 44,000 times in the last three years. The chance of any old Joe mining nowadays is as good as, even with an ASIC system.

 

To @montyrule:

Just do something like Boinc or Folding@Home or any other shared computing service. They are much easier to get into.

[Mazeman03]

2 hours ago, daniellearmouth said:

If anything, that's worse.

 

Not only does this mean the dude has to buy yet more hardware before he can do anything - which already makes the profit margin go down to the earth's mantle - he would also be spending yet more on electricity, and would be trying to mine something that is overly difficult to mine.

 

According to CoinDesk.com, the difficulty of Bitcoin three years ago to this day was 3,275,464.50. Today, it is 144,116,449,280.00.

It has increased nearly 44,000 times in the last three years. The chance of any old Joe mining nowadays is as good as, even with an ASIC system.

 

To @montyrule:

Just do something like Boinc or Folding@Home or any other shared computing service. They are much easier to get into.

We'll duh it will cost more but using a consumer pc even a 380. Using ASIC  is the only way to even make money well have a chance at making money 

 

2 hours ago, daniellearmouth said:

We did.

 

We answered with "no", albeit in varying points from "there's no point anymore" to "they're not worth anything anymore" to "you're wasting your time asking".

He didn't  ask should I do it. He asked what currency he should mine. So no they didn't answer 

[daniellearmouth]

Just now, Mazeman03 said:

We'll duh it will cost more but using a consumer pc even a 380. Using ASIC  is the only way to even make money well have a chance at making money 

The bit I put in bold is the exact reason why it is pointless to try now.

You would be losing money constantly.

 

And the things that you can mine are generally worthless. Dogecoin's value hasn't gone up at all, Litecoin is a bear, and pretty much every other altcoin is worthless.

Just now, Mazeman03 said:

He did t ask should I do it. He asked what currency he should mine. So no they didn't answer 

Given that we told him not to bother mining currency, I think that answered it plain and simple.

There is no point in suggesting him mining something if there is nothing to be gained other than a much more expensive power bill for a few cents in return.

 

So yes. We did answer. We answered with "don't bother mining; there is no point to it". We didn't suggest any currencies because that would contradict our point of telling him not to mine anything.

[Mazeman03]

21 minutes ago, daniellearmouth said:

The bit I put in bold is the exact reason why it is pointless to try now.

You would be losing money constantly.

 

And the things that you can mine are generally worthless. Dogecoin's value hasn't gone up at all, Litecoin is a bear, and pretty much every other altcoin is worthless.

Given that we told him not to bother mining currency, I think that answered it plain and simple.

There is no point in suggesting him mining something if there is nothing to be gained other than a much more expensive power bill for a few cents in return.

 

So yes. We did answer. We answered with "don't bother mining; there is no point to it". We didn't suggest any currencies because that would contradict our point of telling him not to mine anything.

Well duh it's not profitable but if your going to mine he should to research. 

[daniellearmouth]

Just now, Mazeman03 said:

Well duh it's not profitable but if your going to mine he should to research. 

You make it sound like asking questions here is not research.

 

And besides, as I mentioned, he can direct his efforts elsewhere. Boinc. Folding@Home.