• Welcome to Overclockers Forums! Join us to reply in threads, receive reduced ads, and to customize your site experience!

Dig, dig, dig, dig, dig... SQUIRREL!

Overclockers is supported by our readers. When you click a link to make a purchase, we may earn a commission. Learn More.
I.M.O.G. said:
So my dogecoin test has gone overwhelmingly positively... by mining on Doge since Wednesday, and dumping them 1-3 times daily to BTC on cryptsy, I have had the most profitable period of mining ever for me.

With ~2250MH/s of approximate power (21 4770's + GTX 760, but sometimes all 4770's don't stay online due to various issues -reboots, updates, etc), I collected 12117 and 12884 doges each on 1/24 and 1/25. By immediately selling at the best market rate at the time of transfer (I just sold at the best buy order at the time, for immediate cash out), I cashed those in for BTC at the rates of .00000229 and .00000216.

This yielded about 0.02774793 BTC and 0.02782944 BTC, minus fees. At current market rates, this is just under $25/daily. In my experience, that's about twice the value I was getting previously with the same hashrates on LTC.

Currently with Doge taking a bit of a dip in exchange rate today (.00000187 for this example), currently 2200KH/s would bring just under $21/daily.

So what is the plan going forward? I'm not sure yet... Litecoin is set to drop another 20% in difficult in roughly 36 hours to about 2500. Litecoin is still not that strong in the market, but is hanging out around $22.30 LTC/USD... With that difficulty drop, 2200KH/s on LTC mining would bring just under $20/daily.

So if there is a 20% drop in LTC hash rate, and Doge exchange rate doesn't accelerate again but hang out below .00000200, it should be expected that within the next 2 days LTC and Doge may be in direct competition for hash rate again. Personally, if its pretty close, I'll switch back to LTC mining because I have more faith in LTC and I can hold it rather than pay the fees to go from Doge/BTC.
Click to expand...

:clap:
Nice! ~$20/day is awesome :D
Personally, I really hope Doge stays up. I really need some more money, and I started mining Doge late....

As soon as Doge hipe is over, I'll likely look at coinwarz for the next coin to mine. If DGC isn't profitable anyway :p


I'd mine LTC @ give-me-coins again, but they have to finish up repairs and refund me my 0.3 LTC still...
 
In my experience thus far, I haven't found any use in coinwarz - they don't do enough to filter out bad data which throws off their rankings. For instance, right now tagcoin is listed above Doge, but if you dig into you'll find out that Tagcoin has blockchain problems and isn't working right. That likely means any hashes you put on it could have 0 profitability, yet its the top ranking on Coinwarz.

Mainly, I feel like each time I look at it coinwarz often makes a crapcoin look worthwhile when it isn't.

I'm not saying my perspective is good necessarily though - I don't know. This is a similar reason however to why I mine coins directly and don't use an automatic pool. Mainly, I'm probably just too skeptical and I may end up behind the curve trying to make my mining decisions manually, but I want to be confident in my decisions by actually doing the work to teach myself how to analyze how to choose mining based on current profitability... I think most people don't want to do that, so its possible this gives me an advantage.
 
I.M.O.G. said:
In my experience thus far, I haven't found any use in coinwarz - they don't do enough to filter out bad data which throws off their rankings. For instance, right now tagcoin is listed above Doge, but if you dig into you'll find out that Tagcoin has blockchain problems and isn't working right. That likely means any hashes you put on it could have 0 profitability, yet its the top ranking on Coinwarz.

Mainly, I feel like each time I look at it coinwarz often makes a crapcoin look worthwhile when it isn't.

I'm not saying my perspective is good necessarily though - I don't know. This is a similar reason however to why I mine coins directly and don't use an automatic pool. Mainly, I'm probably just too skeptical and I may end up behind the curve trying to make my mining decisions manually, but I want to be confident in my decisions by actually doing the work to teach myself how to analyze how to choose mining based on current profitability... I think most people don't want to do that, so its possible this gives me an advantage.
Click to expand...

Thanks.

I don't use auto pools simply because I have not been able to verify if they do pay more....

I stuck to DGC since the last DGC hype a few weeks ago, and for a while it was quite stable. Now DGC's price is still falling, but the diff is rising slowly I see--so Interest in DGC might return, which is what I want. I'm still holding 25 DGC....

I'll keep in mind what you said about coinwarz. And I'll likely stick to something I know well (DGC).
 
btw, just my 2cents, Im mining doge, which Im trading to ltc on cryptsy, I believe in ltc and if it does rise, this will show quite a profit ;)
 
ZL1 said:
btw, just my 2cents, Im mining doge, which Im trading to ltc on cryptsy, I believe in ltc and if it does rise, this will show quite a profit ;)
Click to expand...

Hmmm. Good idea. LTC does has potential.
But I just sold 700 Doge for BTC :-/
 
ZL1 said:
btw, just my 2cents, Im mining doge, which Im trading to ltc on cryptsy, I believe in ltc and if it does rise, this will show quite a profit ;)
Click to expand...

I went from Doge>BTC>LTC... The Doge/BTC rate was considerably better than the Doge/LTC rate, so I went that route. Then I thought about it, and the LTC/BTC rate is pretty low, so the BTC gave more LTC buying power, and I transferred into LTC as I don't expect LTC to stay at/below .0274 BTC.
 
well i check rates, usually they line up, if they dont i buy wdc :) have a bit of hope in that too
 
you guys keep digging im enjoying the big boost in ltc with the lower diff. :) it brought me from about .25 ltc per day to .333 which means 3 days per coin vs 4
 
Im all for ltc, im cold storing it, but its still more profitable to dig doge and buy ltc with it atm
 
man thats up to you, if you want to store it with hopes of a rise, sure, if not, then btc it is :p
 
well diff dropped to 2400 shh... ;) my daily coin average went from .33 to .45 this morning :) even with the ~$5 drop in value im pumping out twice as many coins as i was starting out jejeje p.s. im only running about 1.1mh/s 6950 + 280X
 
Last edited:
pretty impressive, that's a match for the avg on autotrade pools
 
I'll just drop this in here...

http://www.prweb.com/releases/2014/01/prweb11536011.htm

Just had a look of VoS' order book, and most Doge-USD orders look to be going for 0.0017-0.0018.

I was mining Doge until the LTC difficulty drop, switched back to that, and now that it's about to spike again I'll be switching back to Doge forthwith. This is kind of why I didn't trade my Doge for LTC earlier this week and just sat on it... I had a feeling this might happen once VoS went on board with Doge.
 
You must log in or register to reply here.

Similar threads

stompah
2023 - What did you do today in the world of Crypto
Replies
14
Views
876
Janus67
Janus67
Niku-Sama
Using Binance.US as a wallet
Replies
3
Views
641
Niku-Sama
Niku-Sama
mackerel
Impulse buy display ideas?
Replies
11
Views
86
Flamethrower1972
Flamethrower1972
magellan
System Shock Remake: pretty good
Replies
2
Views
56
magellan
magellan
mackerel
Arrow Lake leaks
Replies
14
Views
413
Flamethrower1972
Flamethrower1972
Back