What is the most profitable coin

Discussion in 'Other Crypto-currencies Discussions' started by cyberpinoy, Dec 25, 2014.

  1. cyberpinoy

    cyberpinoy ECZ Newbie

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    Finding the most profitable coin can be a very daunting task. Some things I look for when trying to determine this is the reward, the reward time, the network hashrate and the difficulty. When i am looking for an alternative to mining bitcoins and still be able to get a big profit, I Like a coin i get earn a lot in from my mining rigs. If it has a nice low difficulty that my machines can process 1 to 3 reward Blocks every 5 minutes I will solomine that coin. I like new coins because you a earn a lot but it makes it hard to hold them for a value increase because the coins always have a much higher value than their worth upon release. But if you can find an older coin that still has a low difficulty and a fairly stable price you can mine a bunch of them and hold them for a month or 2 until the price goes up to where you are satisfied in selling them for a profit. It is also nice to have a lot of POS coins if you can, that way while you hold them they earn coins for you. I love POS and POW coins especially if they are both. That way i can mine them, and still hold them and its like double earning on the coin, you mint them in your wallet from the coins you mine off the server, its like a win win coin.

    There are always a lot of different ways to earn Bitcoin from a machine you own or rent, the trick is knowing what to mine when to mine it, and when to sell it for the maximum profit.
     
  2. downsouth

    downsouth ECZ Newbie

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    Do you need state of the art equipment and a high speed internet connection to mine cyberpinoy ? I am thinking about it but others have told me unless you do it as a group you are unlikely to make anything. Group meaning of course a bunch of indiviuduals mining and then splitting the profit. May I ask if it is worth it to start mining bitcoin right now and what kind of equipment I need ? I would love to do it if I see some profit and can learn about the process. I currently own 2 HP Pavilion laptops. I am on a internet connection with a download speed 2 Mbps (upload is a slight bit lower 1.8 Mpbs). TIA.
     
  3. skill

    skill ECZ Newbie

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    At the current price, I don't think anything is profitable to mine. But if I must choose one, I'd say mining X11 coins such as DRK is probably the most profitable. It's a shame that all the auto-convert profit switching pools like Middlecoin, Wafflepool, etc all shut down.
     
  4. GoldenWing

    GoldenWing ECZ Newbie

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    Peercoin, up until today or so, could have been considered as a stable altcoin to mine, I'd say, but these days it has taken a dive. I'm not sure of the costs or the hardware needed to mine Peercoin, but I'd say it's worth a try...with prudence, just in case it falls down again in the profitability side of things
     
  5. skill

    skill ECZ Newbie

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    Peercoin uses the same algorithm as Bitcoin, SHA-256. SHA-256 requires specialized ASIC devices that are extremely expensive. If I remember correctly, Peercoin is merge mined with Bitcoin, so the best way of mining SHA-256 would be with a Bitcoin mining pool that supports merged mining with a variety of coins such as Namecoin, Peercoin, etc.

    If it isn't merge mined, then I don't believe it is the most profitable coin to mine, especially because it uses proof of stake, which acts as another way of creating blocks.
     
  6. xHysteria

    xHysteria ECZ Newbie

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    Right now with all the difficulties up pretty high, and the low values of the coins, I think that it wouldn't be good to start mining at all. But if there was an option, I'd say that peercoin right now has good value for a piece.
     
  7. John Bryce

    John Bryce ECZ Member

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    I believe Bitcoin/Ethereum are certainly amongst the top pillars of it, but there are many other options that deserves to be mentioned because of their massive scope in terms of the potential. I really love it to make investment with upcoming ICOs like DFS which is a complete package. And, it is in all terms a blockbuster project. The whole concept runs around Fantasy Sports platform with them having 9 professional sports, so with such scale of structure, it is sure to take the digital world by storm.
     
  8. Rupert Anderson

    Rupert Anderson ECZ Member

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    There are many options that can be called highly profitable. But to me one such name is Caviar; it is extremely cool and can bring in major rewards in future. They are de-risking investments in digital asses by diversifying cryptocurrencies with home producing real estate debt, combing growth and income into a single token and facilitating crowd funding for real estate projects, which is what makes it all so very special.
     
  9. Jessie Pierce

    Jessie Pierce ECZ Member

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    Santacoin is right now the hottest deal. They are similar like Bitcoin but is much advanced and got huge potential due to the starting value. They are based around decentralizing cryptocurrency and got epic team that is meant to take it to altogether different league. Right now with just 2 days left on their presale, it is the last chance to get our hands on it and could be life changing decision, so go ahead now!
     
  10. susheel

    susheel ECZ Newbie

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    Yes Bitcoin is the paperless currency we can use at any time and everywhere