Friday, 10 January 2014

Alternative Internet Currencies Similar To Bitcoin

There are plenty of other Internet currencies to work with online and the best place to see them all and how they are currently performing is
  They are the biggest it keeping tabs on all of the coin networks and how they are doing, they even provide you with profit calculators to work out if you can make money from any of these ventures

Now different coin networks use different methods, Bitcoin which is the biggest uses SHA-256 which is the most popular and also the hardest as it is massively exploited with people using ASIC miners. 
 Other more profitable networks currently at time of writing are Litecoin which uses Scrypt to mine for blocks, this makes ASIC miners useless keeping the difficulty down allowing people with good GPU's to mine at good rates but still will not be that profitable due to power consumption
 Alternatively you have Peercoin which uses exclusively CPU and CPU power only, this is one of the best for n00bs to get into as we can start earning straight away and the difficulty has always been relatively low

For mining all of the above I would never recommend solo mining, always mine in a mining pool as it will earn you alot more than solo. There are lots of pools and for the three above these are the ones at the time of writing I would consider to be the best

Bitcoin - I really would not start mining you would be better off trading for coins
Litecoin - I used as it was good rates and lots of users
Primecoin - this comes with the highest recommendation for starters as this will use CPU power and be competitive in earning coins which you can trade for Bitcoins

There are other SHA-256 coin networks that are worth mining with beginner ASIC software such as entry level block erupters which can be picked up for £20 off of ebay, if you are going down this route I would advise using Peercoin or Betacoin at time of writing 

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