Choosing your Alt

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When time comes to choose which altcoin to mine you have to take many things into consideration:

  1. You have to decide wether you want to leave it on autopilot or rush it and make the most out of it.
  2. Mine and Hold or Hit and Run
  3. Specifications and Dedication of the Development team
  4. Potential of altcoin
  5. Launch Calendar 

If you want to mine for profitability but you don’t have the time to watch over your miners and switch them between pools then you can always use pools that use auto calculating algorithms to switch automatically to the most profitable coin against LTC(Litecoin) at the moment. Some of these pools auto sell those coins and get you paid directly to BTC. You can always set up your coin addresses according to the exchange you use and have them into your wallets ready for flipping to BTC manually or holding.
Coinking is one of those pools. They auto switch to the most profitable coins and they offer the option of auto selling them to BTC with only 1% fee
Multipool is another very good and up to date pool which doesn’t offer the auto sell option but it’s the only pool were you can use your Cryptsy trade key. Then multipool takes care of everything (generating coin addresses and auto-selling them in your cryptsy account. This pool charges 1.5% fee.

If you go with the “rush” option then things are tough but profit is most times way bigger than usual auto pilot mode. Sometime you can even get 10 times more than auto. You can either mine and hold coins with future potential or you can mine and sell instantly coins with low difficulty and high price.
In order to figure out what is better you have to take a careful look on the specifications at the announcement post of the specific coin. Vericoin’s ANN thread on BTT is a very good example of a clear and trustable announcement page.
Always try to find coins with low or better NO PREMINE. Remember that developers that hold pre mines can always dump their coins on the market and run away with your BTC.
Try choosing coins that you can get in touch with the development team. The more dedicated the developers the more potential this coin has.
Also some coins tend to provide new options that haven’t been used in crypto currencies yet so these coins have bigger potential.

My opinion is that you always have you make you own research before mining any coins if you are not using auto-pools. Before pointing your miners on any coin read and try to figure out if the community your are going to get involved with is strong and has potential of getting bigger. Are there any strong investors? Or you are going to lose you hashing power and time? Use calendars in order to track down new coin launches. AltcoinHerald is one of my favorite calendars, another one you can use but not up to date most times is CryptoLaunch.

If you don’t have your own miners or you just want to mine on a launch you can always rent your miners here

coinmaker

Blockchain enthusiast. Mining 24/7, trading altcoins, leasing hashing power and searching for Sasquatch

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