Friday

Revising My Cryptomining Strategy

Since the cryptocurrency market has taken it's latest plunge in value, I have been scrambling around trying to mine various alt coins. In my case, that means eschewing the "big" name coins and seeking out more exotic (and quixotic) fare.

The general idea of mining coins is to find something that is profitable, naturally enough. This involves matching the coins and mining algorithms to the hardware that you have, and trying to maximize your results over time.


After a couple of months of chasing around with no particularly satisfying results, I reflected for a moment and realized that Nicehash was already doing what I had been trying to accomplish; namely, using automated algorithm switching to try to keep ahead of the curve, and always trying to mine the most profitable coins at the moment.

I had not used Nicehash previously for two reasons:
1) it had been pretty badly hacked last year, and
2) it's considered the "easy" or "noob" way to mine by some, and I had fallen for that snooty mindset and thought I was "better than that".

Well, the aftermath of the hack has been pretty well handled so far in my opinion, and as for the "noob" tag - well, bugger that. It's every man for himself at this point! So, we'll give it a try for the next few weeks and see how it goes. 

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