WhereToMine highlights rich altcoin deposits

Not sure where to mine next? The proliferation of alternative crypto-currencies – also known spil ‘altcoins’ – can be confusing, even for experienced miners, who may not be sure where to point their GPUs. Should you mine Luckycoin, Devcoin, Nibble or PPCoin? Powercoin, Terracoin or Worldcoin? Sites are appearing to help you choose.

One of them is WhereToMine.com. Began by 35-year-old Kevin Den Angelis, a senior software developer for deals webstek Zulily, the webpagina is designed to help people choose which alt-currencies to mine for.

“I couldn’t determine which coin I desired to get interested te, and I had come across some websites that displayed their value and difficulty,” said Den Angelis, who is fresh to cryptocurrencies. “I also found some sites that had mining calculators on them, but they were for specific coins.” He dreamed a webpagina that listed all of the coins’ statistics, alongside the calculations for mining them.

WhereToMine.com (WTM) mashes up gegevens from a number of sources, including coinchoose.com, cryptsy.com and bitcoincharts.com. It includes gegevens points such spil difficulty, and the coin prize vanaf block. But it has some other functions, including a sparkline displaying the historical profitability of a particular coin compared to Bitcoin.

Of particular rente is the built-in rekenmachine, which takes hash rate inputs for both the SHA-256 algorithm underpinning Bitcoin (and derivatives such spil Freicoin), and the alternative Scrypt algorithm, used by Litecoin, Feathercoin and others. Coming in your hash rate calculates the likely coins vanaf day that you can expect for each alt-currency, along with the omschrijving fiat currency value on a daily, weekly and monthly onderstel.

Other calculation sites will often opoffering more detailed gegevens, such spil rates of come back on hardware investments and offsets for power consumption. However, thesis are generally dedicated to particular coins. This aggregated webpagina offers a quick and effortless view across a range of alt-currencies, leaving users to make their own adjustments for reserve environmental gegevens.

At least one other mining ROI aggregator is building more inputs into its rekenmachine. Dustcoin.com has a mining section that takes the power consumption (te watts) used by a equipment, along with the local power cost, and vleugelspeler out a set of calculations with that factored ter. However, it offers just 24 coins ter its analysis, compared to WhatToMine.com’s 33.

How reliable are thesis aggregator sites? Calculating mining come back is an imprecise kunst at the best of times. Early on, WhatToMine.com wasgoed predicting a $14 vanaf day profit mining WorldCoin (WDC), said one poster on bitcointalk.org, arguing that this wasgoed frantically off.

To be fair, some have pointed out WDC fluctuations before. But Den Angelis admits that variation among mining pools (which are more or less mandatory for any serious miner) can be a confounder when calculating the comebacks on investment, because each pool has its own characteristics. So the webpagina comes with a disclaimer.

“I have found that this information depends on the pool and the miners involved ter it,” he said. Some have different rates of stale shares, which are redundant blocks, collective after they have already bot solved. “I’d like to get this information together at some point so that I can work it into the calculations, but I have to pull from many sources to do so.”

Given the potential for miscalculation, it’s useful to compare aggregator sites where possible. Mining Litecoin at 290 Khash/sec (the projected rate for an AMD 5850 GPU) will earn you $1.42 te Litecoins, according to WTM. Dustcoin predicts $1.39 at the time of writing. The predicted coin yield vanaf day is the same, meaning that the difference is down to the exchange rate.

There is presently no revenue prototype for WTM, albeit Den Angelis is working on ideas. And he isn’t much of a miner himself at the uur. “I’m te the process of building my very first equipment, but right now, I just use a laptop for some indeed pathetic CPU mining,” he joked. The few Google ads that he presently places on the webpagina are more profitable than his miner.

But others are throwing all the computing muscle that they can at different altcoins. Sites like this will become increasingly significant spil ASIC miners succesnummer the toneel and scoop up large proportions of the hashing share. They will leave other users out ter the cold, looking for other coins with lower difficulties to mine.

“I have yet to own or see an ASIC miner,” Den Angelis said. “Te theory, they will be very profitable for those that own them and that will make it unprofitable for those that don’t. However, with all the altcoins, there are many other places to mine.”

The leader ter blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a rigorous set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests te cryptocurrencies and blockchain startups.

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