Next (profitable) coin to mine? Or its already dead "gpu mining"?

[Blackhole890]

So while my gpu was mining ethereum today, in 3h, i only had around 27 shares, which usually leds to 60 shares at least. The reason is that the ethereum diff made a big jump and now it's practically not worth mining it for fast money like before or even non-profitable for some people... So i was wondering which coin should i mine now? I have heard DBIX and Zcash but i'd appreciate more options to mine. Also, i dont know anything about zcash and how does it work so DBIX is probably now my main coin mining.

[WkdPaul]

-Thread moved to the appropriate section -

[porina]

Have you tried nicehash? It'll switch between jobs depending on what is paying better. If etherium drops in return, others may become more viable. I have nvidia cards and they spend most but not all the time on zcash. All depends on the moment.

[knightslugger]

they are all down right now. like, WAY down. 25% or more of what they were a month ago. It's pathetic. One GPU would pay for my fuel for a month. now it barely pays for breakfast at the diner once a week.

[Blackhole890]

40 minutes ago, porina said:

Have you tried nicehash? It'll switch between jobs depending on what is paying better. If etherium drops in return, others may become more viable. I have nvidia cards and they spend most but not all the time on zcash. All depends on the moment.

idk why buy nicehash only mines me bitcoin...

[knightslugger]

13 minutes ago, Blackhole890 said:

idk why buy nicehash only mines me bitcoin...

you sell your compute power to the pool, and are paid back in bitcoin (which is a far more ubiquitous form of payment than Litecoin, Etherium, or ZCash).

[knightslugger]

6 minutes ago, GamingMemeKing said:

Incorrect.

 

NiceHash will mine another currency using a different algorithm and then pay you in Bitcoin. E.G. with a NVidia card, one day it might be mining Zcash using the Equihash algorithm and another it may switch to the Lyra2rev for LyraCoin.

 

But your payment will always be in Bitcoin.

 

If you wanted to be paid in the currency mined, you would have to use a different miner.

and several different wallets to house said CC's. As a seller, it's far more convenient to just get paid for compute power in one currency.

[Blackhole890]

1 hour ago, GamingMemeKing said:

Incorrect.

 

NiceHash will mine another currency using a different algorithm and then pay you in Bitcoin. E.G. with a NVidia card, one day it might be mining Zcash using the Equihash algorithm and another it may switch to the Lyra2rev for LyraCoin.

 

But your payment will always be in Bitcoin.

 

If you wanted to be paid in the currency mined, you would have to use a different miner.

 

1 hour ago, knightslugger said:

and several different wallets to house said CC's. As a seller, it's far more convenient to just get paid for compute power in one currency.

but their fee's are kinda higher than the rest of the pools such as nanopool or etherminer, is it worth?

[knightslugger]

1 hour ago, Blackhole890 said:

 

but their fee's are kinda higher than the rest of the pools such as nanopool or etherminer, is it worth?

that's not up to me to decide. here's the facts:

 

When you mine a cryptocurrency, you should have a wallet for that specific currency.

Once you have that currency, you have to figure out a way to spend it.

If you cannot spend it, you must convert it to something that you CAN spend it.

Each conversion process costs a fee, done largely by each "bank". Some more than others.

The more exchanges made, the less your currency is worth.

 

As i stated before, BitCoin is much more ubquitous than Etherium or LiteCoin. I have yet to see any place besides ETH/LTC mining equipment manufactures that accept it. Unless you have a VERY specific purpose to mine or accept payments in Etherium, i see absolutely no reason to get it. Not when you have "banks" that offer a BitCoin wallet that is tied to a Visa Debit card that you can use to pull cash out of an ATM or pay for fuel at a pay&pump. otherwise you are converting ETH to BTC for an insane fee just to spend it, which honestly these days can be straight rate or percentage, whichever is greater. Last time i had a transfer, it was something like $7 for a $5 purchase. just so you know, at today's difficulty level, that's an entire 24-hour non-stop day of mining on a pretty high caliber nVidea GPU to make up the difference their $2 "network fee" cost me.

[Blackhole890]

16 hours ago, GamingMemeKing said:

 

-Try to cash out when the market for your desired currency hasn't crashed

 

what do you mean?

 

[knightslugger]

3 hours ago, Blackhole890 said:

what do you mean?

 

Think of it in terms of how a stock market works and it will make a lot more sense.

 

If you still don't get it, i recommend you not start. honest.