Saturday, March 15, 2014

How to choose a coin

Visit these few sites to see which coin you will like to mine and feel will have a good prospect in future

Bitcoin Talk
CryptoCoin
Altcoin calendar

In my personal option, do mine those coin with Kimoto's Gravity Well, this will prevent multi pool from artificially pushing the difficulty of the coin or dumping the coin; damaging the coin prospect. I will touch more on multi pool on my next post. 

Choosing a coin in my option need support from the crypto community and have a good support from the developer, constant updates from developer and not creating a hype all over cyber space; coins with good marketing and hype usually will get pumped and dumped and the end of the coin.

Things to note while choosing a coin

- Premined 
- Supply
- IPCO (initial public coin offering)
- How much coin in each block and how many coins will be out within a week. 

I have mine several coins and most of these coin got pumped and dumped, and most of the time i did not sell in time and some of these coins i have invested my bitcoins in them. note of caution, when any say its going up or anything of that sort, start selling off and just keep alittle just in case :). Currently my buddy and i are mining Coin coin, which in my option is not hyped and quite stable pricing, a good long term coin to mine for and invest. 


Depending on your objective of getting into this game, if you are in it for sustainable income, i will suggest you mine into multi pools. click on the link to view some of the multi pools in the market. current my buddy and i are using clevermining which is not listed in the forum discussion. each mh/s will earn you around 0.00924 per mh/s . 

No comments:

Post a Comment