Coinchoose bitcoin miner
Posted On 09.04.1955
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When I first came to crypto currencies it was generally accepted that the only coin to mine for profit was Bitcoin. I mined Litecoin because I believed in it and thought it had a future rather than being able to cash in for a profit. Being a hobbyist miner I could afford to do such a thing. With ASICs pushing GPU miners away from Bitcoin we have seen all that professional mining GPU power come to the scrypt altcoins.
So it would seem that the major hash power has now mined the profit down to be equal with Bitcoin. It looks to me that Bitcoin is going to be a profitable coin for GPU miners again or that GPU mining will no longer be profitable and the altcoins will return to the hobbyists only. What do you think is going to happen? I think that steady growth within the community, price, development and marketplace will bring people that are willing to wait for the long term payoff of the coin rather than a quick buck.
They don’t take in to account the potential of those coins. I’ve not sold any ftc yet as i think it will be worth holding on for a longer term. Let the miners that are mining and dumping chase the snapshot profitability charts. I’ll mine what i think will be most profitable in the medium – long term. I don’t wanna be one of those guys.
What will happen – who knows. I think all coins will level out in terms of snapshot profitability as the automated scripts remove the edge for miners that click the refresh button every 5 minutes. I joined feather coin because it was new and litecoin did CPU again. Next will be cell phone hashing. Then the community will carry it.