Most profitable way to mine with your GPUs – The Merkle

Most profitable way to mine with your GPUs - The Merkle

Depending on what you want to achieve with your mining equipments you have many options to choose from. Ter this article I will explain the different ways to mine bitcoins with your GPU mining equipments.

If you are wondering whether you should mine using GPUs or ASICs please refer to THIS ARTICLE for an explanation. Te this postbode I will assume that you have built a working GPU mining equipment and know how to the process of mining works.

The very first idea to look at when configuring your mining equipment is whether you want stable terugwedstrijd, or make a bet and have a chance for a larger comeback te the near future. Depending on the route you go there are different mining technics for that. Depending on what route you choose you will have different options regarding the mining pools and the mining algorithm that you should choose.

If you are going to go with a stable comeback then you vereiste instantly convert all your coins that you mined to fiat te order to ensure the stability. That boundaries you spil a miner to mine coins that are already on exchanges. However, the other way to treatment mining is similar to gambling. you can go to cryptocointalk and check out the releases for fresh coins, choose a coin that you believe will inject on an exchange and one that will have some sort of future and mine away. The difficulty will be low and once the coin goes on an exchange (hopefully) you will be able to dump it and make crazy profits.

If you want to go with a more stable come back, there are many ways to do that. One of the ways is to mine the Scrypt algorithm on a multipool mining pool. Scrypt is the standard algorithm that most GPU miners use and has fairly a lotsbestemming of hashing power faithful to it. The only problem with Scrypt is that there are ASICs coming out for it. ASIC stands for Application Specific Integrated Circuit. ASICS are cheaper, consume less power, and have way more hashing power then GPUs. Spil a result, when Scrypt ASICs come out then those miners who still mine Scrypt using their GPUS will take a enormous kasstuk ter profits. You see the more hashing power a blockchain gets the higher the difficulty rises, so unless you can keep buying more GPUs to match the ASICS there is no point mining an algorithm that already has ASICS for it.

Take for example Bitcoin. The only way to profitably mine bitcoin is to buy a Bitcoin miner. Miners like Antminer or Terraminer are all ASICS which are designed only to mine bitcoin. Mining bitcoin with GPUs or CPUs is obsolete because of the ASICS that overpower the other components. Similarly, if you want to proceed making profit with you GPU mining equipment you voorwaarde switch to an algorithm which does not have an ASIC developed for it, and hopefully an algorithm which will never have an ASIC developed for it. Guess what? There is an algorithm like that, and it is called Scrypt-N.

Scrypt-N is an algorithm which modifies itself every duo of years, spil a result developing ASICs for it will render worthless after a year of mining and it takes way longer than a year to develop a functioning ASIC.

I presently mine vertcoins which use the Scrypt-N algorithm. I believe that Vertcoins are the next litecoin and will predominate the crypto market spil the number Three coin. This is not an article about promoting vertcoin but the only thing I want to say about vertcoin is that unlike other altstem coins it has its own miner (vertminer) and spil a result it looks very promising. Keep ter mind there are other coins based on the Scrypt-N algorithm which are not vertcoin, you could possible mine a freshly launched Scrypt-N coin if you believe it will have future and increase ter value.

Back to the very first idea that I wasgoed talking about. Do you want a petite stable comeback or do you want to take a risk and invest and hope that the bitcoin market will go up along with the altcoin market? If you want a stable come back then once you configure your miner you need to make sure to turn your profits from coins to fiat. If you are willing to take a bet you can either mine a freshly launched coin that is not on an exchange, or go ahead and mine an established coin like vertcoin, which might go up te price someday.

If you need help configuring any mining software please feel free to postbode ter the comments and I will write you a detailed tutorial on how to set it up.

Related movie: Whattomine.com – Mining Series


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