Crypto Mining Blog

If you are mining for alternative scrypt cryptos at the moment due to their higher profitability compared to LTC, you are probably already using Multipool or another similar automatic switching pool. We are using Multipool and set one mining rig with four 280X cards on Multipool and have set LTC Rabbit as a backup pool to test instead of WeMineLTC or Coinotron that we usually set as our backup. The idea behind that pool is that you mine for anternative scrypt-based cryptos based on profitability along with LTC and you are directly getting payed in LTC, so this there is no need to transfer the mined alternative coins to an exchange and trade them for LTC. This way you get extra profit than directly mining for LTC. Our idea was to see what you can expect to get when Multipool has issues and they do have and the connection to their pools drops, so the miner goes to the backup pool. The result we’ve got for 24 hours is 0.07 LTC profit at the backup pool and about 1.09 LTC when we exchanged the mined alternative cryptos from Multipool to LTC. So if you do not have a backup pool set it will be a wise idea to do so in your miner (cgminer does support that, CUDAminer does not yet) and do use a different mining pool. Meanwhile we are heading for another drop in LTC difficulty in few hours, so the profitability of alternative cryptos such as DOGE will drop compared to directly mining LTC…