I have bot mining Litecoin (LTC) at WeMineLTC.com for a duo of months now and I noticed that the difficulty has bot enlargening pretty rapidly recently.
Ter layman’s terms, difficulty is the number of KH/s required to mine a portion of a coin. The difficulty increases spil more people mine the coin. The more KH/s that go te on a macro level, the higher the difficulty goes.
Because of the increase te difficulty, my Eighteen,000 KH/s went from earning about Five.Five LTC/day ($90.75/day) to about Trio.8 LTC/day ($64.6 /day) (note that USD exchange rates switched spil well – that’s why the math isn’t volmaakt).
That’s fairly a druppel te my ROI spil I work toward paying off all of the equipment I invested ter to achieve an Eighteen MH/s hashing rate. I began to wonder if it might be more profitable to mine other altstem coins that suggest lower difficulties but have much, much lower USD exchange rates on far more sketchy exchanges.
The Test – Multipool.us vs WeMineLTC.com
I determined to create an account on Multipool.us and test the theory.
Multipool.us is a switching pool. That means that I point my Eighteen MH/s at their servers and they use that mining power to mine whichever junk altstem coin offers the highest profitability at that uur based on difficulty.
If you are unacquainted with the various altstem coins that are out there, check out www.coinwarz.com to see which coin offers you the best theoretical ROI for your hashing power at this ogenblik.
I permitted my equipments to mine at Multipool for 24 hours. Through Multipool I earned LTC, Doge, AUR, TIPS, and DGC.
After the test period I withdrew all available coins to my local wallets and then sent them to the exchange www.cryptsy.com to convert them into LTC at current market rates. Obviously, I just sent the mined LTC coins to my LTC wallet.
After converting all of the coins to LTC and sending them to my wallet I netted about 1.8 LTC for the 24-hour mining period. I wasgoed actually disappointed with those results. I expected the mined total to be higher than the Three.8 LTC I would have received mining on WeMineLTC.com.
The result wasgoed 1.8 LTC ter 24 hours of mining on Multipool.us when that same hash rate could have earned Three.8 LTC at WeMineLTC.com.
Besed on thesis results, it wasgoed obviously more profitable to generate LTC directly at WeMineLTC rather than generating the most profitable coin at any uur and then converting those coins to LTC through Cryptsy.
It is significant to note that WeMineLTC.com is a 0% toverfee pool and Multipool.us is a 1.5% toverfee pool. That means 1.5% of my KH/s are given to Multipool.us instead of making their way to my wallets.
It is also significant to note that I did lose numerous fees to Cryptsy through converting the various coins to LTC.
Even when those fees are added back ter, it wasgoed still vastly more profitable to mine at WeMineLTC.com.
Other Considerations For Multipool.us
This article wasgoed about short-term profitability – not long-term value. BTC and LTC have established themselves at present spil the most very valued coins.
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- Comments: Three
Fascinating but I don’t think you will everzwijn pay for the equipment unless you got te the ground floor and are one of the very first. The catch is there are too many people doing it and you make less and less money for the time you waterput into it.