Mining other altcoins that are not as popular as Monero, Zcash , Eth ect.

Notice: Page may contain affiliate links for which we may earn a small commission through services like Amazon Affiliates or Skimlinks.

Klee

Well-Known Member
Jun 2, 2016
1,289
396
83
I am interested in coins that actually do stuff other than the typical crap coins.

Classification by me: crap coins as those whose sole purpose seems to be just to be mined and bumped up then sold before it crashes.

Looking at mining newer coins that are still in the early stages with the difficulty pretty low, basically just to get on the ground floor. Just mine a few thousand or so of each.

I want to mine a few and just hold on to them just on the off chance that one day they will take off, I figure I can mine the most interesting ones for a while then stop when I have decided I want to mine another more interesting one.

One first coin I'm interested in is SIA.

I am interested in coins that are for a useful purpose and SIA is defiantly one.

http://sia.tech/

Its a pretty cool idea, so I just installed the Sia-Ui and its downloading the blockchain right now.

And will start mining on my GTX 650 as soon as its done.

I'm still big in Monero mining and less so with Zcash and I just want to expand my coin "portfolio" a bit.

So what are your picks if any?
 
Last edited:

capn_pineapple

Active Member
Aug 28, 2013
356
80
28
I'm liking Sia also. I'm thinking of mining it but selling the coins into something like BitTwenty or Iconomi for the diversification factor.

As to other coins, LISK, STEEM, Byteball, and Golem all look interesting to me in terms of what they actually offer.
 

Patrick

Administrator
Staff member
Dec 21, 2010
12,511
5,792
113
A few weeks ago, you could mine the dredges of cryptocurrencies, convert to BTC, ETH, XMR, ZEC and do okay. Now it is a bit harder to accomplish since doing an extra hop (other currency to ZEC for example) would cost enough in transaction fees to make it essentially a wash.

The other issue is that when spreads are relatively large assessing profitability is harder. Something may have had a good sale price but by the time you mine enough that you can exchange nobody is buying at that price anymore.

I still look at it as I would take BTC, ETH, ZEC and XMR for gear. Maybe LTC and ETC. Those 4 have decent market caps and have people using them transactionally. There are many smaller coins with great goals but if you do not see anyone using them in the real world you are mining purely for speculative purposes. That is a different matter.

One other one I am looking at: USDT. At some point this all crashes. I have been stashing away power costs in USDT just to ensure that I know what is the speculative part versus my power costs.
 

Klee

Well-Known Member
Jun 2, 2016
1,289
396
83
A few weeks ago, you could mine the dredges of cryptocurrencies, convert to BTC, ETH, XMR, ZEC and do okay. Now it is a bit harder to accomplish since doing an extra hop (other currency to ZEC for example) would cost enough in transaction fees to make it essentially a wash.

The other issue is that when spreads are relatively large assessing profitability is harder. Something may have had a good sale price but by the time you mine enough that you can exchange nobody is buying at that price anymore.

I still look at it as I would take BTC, ETH, ZEC and XMR for gear. Maybe LTC and ETC. Those 4 have decent market caps and have people using them transactionally. There are many smaller coins with great goals but if you do not see anyone using them in the real world you are mining purely for speculative purposes. That is a different matter.

One other one I am looking at: USDT. At some point this all crashes. I have been stashing away power costs in USDT just to ensure that I know what is the speculative part versus my power costs.

I'm not talking about mining and then exchanging them. I plan to mine a few altcoins with low difficulty and keep them on the off chance they will increase in the future.

Like I should have done with bitcoin the first time I played around with it back in 2010. :(

I figure if I do that to a dozen or so interesting coins maybe one would be the next big thing.
 

Patrick

Administrator
Staff member
Dec 21, 2010
12,511
5,792
113
More efficient to mine ones profitable now, then trade?
 

Klee

Well-Known Member
Jun 2, 2016
1,289
396
83
More efficient to mine ones profitable now, then trade?

I'm mining and holding on to my coins for a while except for zcash.

Once I get my GTX 1080 Ti i'll mine zcash on that. I just don't have a ton of faith in zcash long term.
 

Klee

Well-Known Member
Jun 2, 2016
1,289
396
83
Yeah, I've seen their announce of $2500 ASIC which even not exists in hardware.
Seems to be compromised step from devs
Obelisk's Sia ASICs - Full Details • r/siacoin
At least there will be a year or more before the asic's are cranked up so the difficulty will stay reasonable enough to mine with gpu's.

On a side note I could not get SIA mining in Linux working at all, kept having a http 404 error which seems to be pretty common but I tried everything that was supposed to fix it and no go.
 

mrrensing01

Member
Dec 9, 2015
46
11
8
I've been mining Aeon in the off chance it can make it past the development issues. I read somewhere that Aeon is to XMR what LTC is to BTC. Super low volume but the developer of Aeon contributes to/is part of the XMR dev team. I'm totally speculative on Aeon but toss some of my older CPUs at it for now, about 2x the hash rate of mining XMR for my Xeon 5600s...