Advice for Mining

[melt913]

So I want to begin mining cryptocurrency and have some questions I would like some help with. I have 2 fairly decent gaming computers and a older(2010) hp desktop. Also as a note I done have a wallet set up.

1. what coin or coins should I mine and why?
2. how do I make sure I don't lose money with electric cost?
3. is there anything important I am leaving out in my plans?

Comments

[deanlogic]

1. look for the coins that are new, because they will be easier to mine
2. read up on how to make alternate energy to power your PCs
3. the chance that you might mine something that will never amount to anything and you spent a lot of money on electricity.

[melt913]

So would Ether be worth the plunge?

[deanlogic]

If you want to get in one at the bottom, maybe go with SmartCash. They have been marketing like crazy trying to get a foothold. They even give out money tips here on Steemit if you write articles about them or just comment on their articles.

Etherum is pretty big right now and as far as I can tell, you don't mine it, you just start your own Token based off of it for some other project.

sometime in 2017 Ethereum will be switched from Proof of Work to a new consensus algorithm under development, called Casper that is expected to be more efficient and require less mining subsidy. ~ https://www.ethereum.org/ether

I haven't looked into others, there are so many.

[offgridlife]

I earn some extra Bitcoin and Steem dollars with my tablet and Earn Crypto.... https://www.earncrypto.com/earn-free-bitcoin/?r=94125

[bigriskbill]

Mine ethereum is my suggestion. You can also check out whattomine.com and input your GPU, it should give you the best options including your electricity costs. Your choice of wallet is depending on which crypto you pick. With ethereum you should mine with a pool. For example nanopool works fairly well. Post more questions here if you have any. On your third question there is about a million answers.