The LTB Network Forum

Low End Mining?...

Back to Bitcoin & Beyond

Comments

xSOSxHawkens

Offline
Posts: 20
Location: Olympia WA

Hi Guys!

I am new to the cryptocoin market, but am trying to make a bit here or there.

I have no notions of getting rich quick or really even turning a profit, but would be happy to learn how if any of ya know :P

But mainly, my focus is simply helping pay for upgrades.

I am one who has for years run my systems 24/7 in the aspect of distributed computing, with my normal pet project being crunching numbers for SETI.

Knowing that the costs of power and hardware-wear were about the same for mining as for SETI-crunching I have decided to re-purpose the systems to see if they can pay for or help subsidize the upgrade costs.

I get some of the basics, mainly that ASIC's have made CPU/GPU mining impossible for SHA-256 and soon even Scrypt. It is for these reasons that I currently mine on the X11 algo. I also get that I have to mine with a pool for decent returns, especially being that I mine with weak hardware.

So do any of you have advice on, well, anything regarding what I would like to do?..

My mining HW is: Athlon 64x2 6000+ with HD7870, and an i3 mobile, and a turrion TL-50.

Not much I'm afraid.

Currently I am sticking mainly to Karma Coins (KARM) as they have a fast and high return rate and I am hoping to make enough to allow me to trade up on good market days, so far I have a few thousand. But I mine on multipool and switch around allot, though generaly only on coin at a time to focus my resources.

Between all CPU's and the GPU I am getting around 2M/hs according to the multipool website.

Anyone have suggestions on coins/algos/markets or ideas to help me get the most out of the limited resources I have?

(BTW my current goal is simply to make $200 to upgrade the 6000+ to a Phenom II x6, hopefully before Christmas)

Posted on August 21, 2014 at 10:27 PM
Last Edited: August 21, 2014 at 10:35 PM

0 likes

• Febo

  

  Offline
  Posts: 125

  I am mining monero that is cryptonote coin. You can mine it with CPU and GPU. But not sure if you can get 200 USD till christmas. They say is one of best to mine. Also have big trade volume, so easy to sell. And because of anonymity, have niche to stay side by side with btc for long time to come. So i don really plan to sell it til christmas. :P

  Posted on August 22, 2014 at 4:32 AM
  Last Edited: August 22, 2014 at 4:38 AM
  Permalink
  0 likes
• zonda

  

  Offline
  Posts: 44

  You will make more with some low level trading back and forth.

  Posted on August 22, 2014 at 4:42 AM
  Permalink
  1 like
• nicojuritz

  

  Offline
  Posts: 100

  @zonda You will make more with some low level trading back and forth.

  Are you sure of what you are saying?

  Posted on August 22, 2014 at 4:46 AM
  Permalink
  0 likes
• xSOSxHawkens

  

  Offline
  Posts: 20
  Location: Olympia WA

  @febo I am mining monero that is cryptonote coin. You can mine it with CPU and GPU. But not sure if you can get 200 USD till christmas. They say is one of best to mine. Also have big trade volume, so easy to sell. And because of anonymity, have niche to stay side by side with btc for long time to come. So i don really plan to sell it til christmas. :P

  Thanks for the tip. I am checking it out. Def a much newer coin and algo than what I am mining on.

  Any other advice?...

  @zonda You will make more with some low level trading back and forth.

  Yeh, im already working on that. I have managed now to mine about 20k worth of KARM and am using it to learn small margin day trading.

  It seems that as long as you stay with decent size trades on low value money you can maximize profit from the large differences in small changes. It seems the trick might be balancing so that a trade is profitable without upsetting a weak market in a low end coin?...

  Dont know if that makes any sense, or even if I am in the right direction lol...

  Posted on August 23, 2014 at 12:24 AM
  Permalink
  0 likes
• zonda

  

  Offline
  Posts: 44

  @zonda You will make more with some low level trading back and forth.

  @nicojuritz

  @zonda You will make more with some low level trading back and forth.

  Are you sure of what you are saying?

  Yes I am. For example, in the last 2 days I have been trading BTSX during their rally. I have managed with 15k BTSX to make 4k BTSX in two days. Yes it is risky and a bit nerve wrecking but if you follow the market waves closely, you can predict which way the price will go. You just play the spread between the buy and the sell orders. That is about 120$ in two days while the price was going crazy and going upwards all the time. It is much easier to trade while the price is more stable but you have to find decent volumes.

  Of course these were very good days for me, not all of them are this good. There are the bad ones as well where I have lost.

  Posted on August 23, 2014 at 9:36 AM
  Permalink
  0 likes
• zonda

  

  Offline
  Posts: 44

  @xsosxhawkens

  @febo I am mining monero that is cryptonote coin. You can mine it with CPU and GPU. But not sure if you can get 200 USD till christmas. They say is one of best to mine. Also have big trade volume, so easy to sell. And because of anonymity, have niche to stay side by side with btc for long time to come. So i don really plan to sell it til christmas. :P

  Thanks for the tip. I am checking it out. Def a much newer coin and algo than what I am mining on.

  Any other advice?...

  @zonda You will make more with some low level trading back and forth.

  Yeh, im already working on that. I have managed now to mine about 20k worth of KARM and am using it to learn small margin day trading.

  It seems that as long as you stay with decent size trades on low value money you can maximize profit from the large differences in small changes. It seems the trick might be balancing so that a trade is profitable without upsetting a weak market in a low end coin?...

  Dont know if that makes any sense, or even if I am in the right direction lol...

  Some advice..

  After every big rally comes a correction. We can say that BTSX market has corrected itself today, has droped from 6k satoshis to 5k at the moment.

  NXT is very good for trading. There is a constant selling pressure on NXT by their whales because of their bad distribution. This means that with almost a certainty you can predict NXT market going down after a rally because their whales will unload.

  This will work until their distribution doesn't get better which will take some time.

  Posted on August 23, 2014 at 9:42 AM
  Permalink
  0 likes
• Hesham_3del

  

  Offline
  Posts: 661
  Location: Cairo, Egypt

  Thread moved to "Bitcoin and Beyond"

  Posted on August 23, 2014 at 2:19 PM
  Permalink
  0 likes
• nicojuritz

  

  Offline
  Posts: 100

  @zonda

  @zonda You will make more with some low level trading back and forth.

  @nicojuritz

  @zonda You will make more with some low level trading back and forth.

  Are you sure of what you are saying?

  Yes I am. For example, in the last 2 days I have been trading BTSX during their rally. I have managed with 15k BTSX to make 4k BTSX in two days. Yes it is risky and a bit nerve wrecking but if you follow the market waves closely, you can predict which way the price will go. You just play the spread between the buy and the sell orders. That is about 120$ in two days while the price was going crazy and going upwards all the time. It is much easier to trade while the price is more stable but you have to find decent volumes.

  Of course these were very good days for me, not all of them are this good. There are the bad ones as well where I have lost.

  I really appreciate that from you.

  Posted on August 26, 2014 at 9:36 AM
  Permalink
  0 likes
• xSOSxHawkens

  

  Offline
  Posts: 20
  Location: Olympia WA

  So I have started mining Dark. I tried getting setup with monero but allot of the info was not in english :(

  I am still planning on trying to mine it though, thanks for the tip.

  Anyone else have advice on low end hardware?

  Posted on September 1, 2014 at 7:19 PM
  Permalink
  0 likes
• Apple

  

  Offline
  Posts: 39

  Mine on a profit switching pool that mines the most profitable coin such as multipool. Then you can link the account with cryptsy and set thresholds to auto sell coins on cryptsy once the threshold has been met.

  Posted on September 2, 2014 at 4:26 PM
  Permalink
  0 likes

Post Reply