How I find the most profitable crypto coins to mine Video Lecture | CPU Mining: Basics to Expert - Cryptocurrency

hello guys is Lee here for I my blots
welcome back to another video of mine in
this one I would be sharing with you
what I use to work out which is the most
profitable Quinns to mind using your CPU
or your graphics card so let's jump
right into it so I'm gonna be on the
screen just to my left here which is
Windows 10 machine and this is what I'm
just going to be demonstrating this on
so the first thing that we need to work
out is our hash rate of our card for
each algorithm now your graphics card
and CPU a capable of mine and lots of
different algorithms so you want to kind
of block a big list of the various
algorithms that you can mine and also
the rate of or the hashing performance
for each algorithm because they're not
all equal your card will perform
different thing on each other and maybe
one somewhere so you can work out out in
a couple different ways so let me just a
shoot mature over a little bit here so
one of the ways you can do is here
actually I created in my previous video
the nice hash miner and one of the
useful features that that has is a
benchmarking tool so what they can do is
you can test your hardware and it will
give you a nice breakdown of how your
hardware performs on each algorithm and
then we can use that information to work
out our profitability so I'll just show
you how that works now so I've got the
nice hash miner I've already done a
benchmarking but if we slip benchmark
and what you would normally do is in a
slick standard benchmark click start
benchmark and it will go through the
benchmarking process and it will give
you a score so at the top you can see my
CPU it's an Intel i7 950 and then you've
got the algorithm and the speed and then
further down you've got the Nvidia so
and once again we've got the algorithm
and the actual speed hashing performance
and so I've got a GTX 970 so if you have
the same card as me this practically
going to be your performance across all
those different algorithms the only
exception to this is dagger Hashimoto
which is used for a Furion mining it
says here that we're going to get
4.2 mega hashes and I know for a fact
using different drivers that I can
actually get 20 mega hashes with this
card but with the current drivers
installed they're the ones that work
with my stash - so a little bit of extra
complication there so don't use these
figures as you know factual figures
they're more like a baseline rough
estimate of what you're going to begin
so that's what I'm going to find out
what your hashing performances for each
algorithm another way you can do it is
by going to a website which is called
and mining Hardware comparison so it's
mining HW comparison.com
and then if you click on either Nvidia
or MD whichever card you've got so if I
do GTX 970 press Enter you can see that
we've got lots of different
manufacturers and a GTX 970 s and then
we also got the algorithm there as well
so and on which coin you want to mine
and just make a note of opposite model
and the algorithm and the actual speak
there so you can see for a few room
people are getting between eighteen up
to 20 to 17 so I think can also further
refine a theorem and if it works like
that not quite so you kind of have to
break it down a little bit yourself I
think consortium oh yeah so you can sort
it there see ya across the board
you see how that works so whatever I
practice clad you've got type in the
model and then you'll be able to work
out clock speeds all that kind of other
stuff I don't go too into it well it
will give you a ballpark figure for the
actual hashing speed that you can expect
so now you've got the hashing speed for
your actual hardware so the next thing
you need to know is how much electricity
your hardware is going to be using so
what you can do is if you just do like a
Google search just type in your actual
graphics card and then do specs or
specification and what you want to find
out is the thermal design power that's
an actual manufacturers reference to how
much electricity actual
is going to be using so pretty much all
manufacturers put the information out
and what it can do is it will give you a
reference point to know exactly how much
energy your graphics card will use so
for the GTX 970 on the official Nvidia
website it tells us that card should use
145 watts in reality it uses a little
bit more than that but that's a pretty
good figure so now you have an actual
power usage for a graphics card and we
also have a hash ring so now we can take
this information and put into this cup
of different websites or share them my
personal favourites and we can put
information into these websites and we
can work out our hashing performance
okay so the first website that we're
going to look at is called clan wars so
this websites been going quite a long
time I think I've been using them for
about two years so you've got this kind
of this main area here this lot try and
select that and then basically you've
got each different algorithm and then
you've got a box to input your actual
hashing speed you can in your power
usage and you can also enter your
electricity costs so I'll just show you
a few of these
you've got sha-256 which is for Bitcoin
we're going to exclude that because it's
ESIC miners can only run that same for
script but the other ones we can use so
I'll just on the bottom right hand
corner here that's already selected so
it's selected for each edge which is
used for aetherium and expense and a few
others we now have rate is about 20 mega
touches per second and power usage you
can do it either two different ways you
can even either enter the actual power
usage on a card basis or what I prefer
to do it's actually on a system basis so
you'll probably find that your actual PC
if it's just got a single graphics card
you're going to be using about 150 250
Watts through a graphics card and plus
probably about another 100 for the
actual system itself so in this case I'm
just going to put in a ballpark figure
of 250 watts so that's going to cover me
for my actual graphics card and
so the system itself under that we've
got an actual cost for the electricity
I'm actually in the UK electricity tends
to be a little bit more expensive but
I'll just leave that as it is just for
simplicity so there it costs 10 cents
per kilowatt hour
so if you're not too sure what that
figure is just check on your electricity
bill and you'll be able to find out
exactly how much you are paying for
electricity which is actually super
important if you can be doing any
Krypton line so then let's just have
local just add in one of the other
algorithms we've got neo script here so
it is not point five nine say it's
actually five hundred ninety five killer
hashes same power usage roughly with
each algorithm the power usage will go
up or down so you probably belong just
by like a a power usage one is the best
way to work out exactly what you're
using over time and that's in one of my
videos so go check it out let's just
pick out one other algorithm just for
fun let's go with well sweeper let's go
Clark
so that is sixteen thousand
one ninety just make sure that you're
obviously entering the correct
information one mega hash is one
thousand killer hashes so obviously just
make sure you put in the right
information in the boxes of wise you'll
think you can be making a ton of money
and actually you won't so just be
careful on your digits right so we've
got quark
we've got neo script and we've got eat
ash so now let's calculate the
profitability and see which one it
thinks is the most profitable okay so at
the top of the list is aetherium which
is no surprise because I hope you're
minding it for quite some time and I
already know that that is the most
profitable plan and at the moment and
it's called by a lot of factors
basically it's a basis of the extra
exchange rate of the coin also the
difficulty is a big determining factor
as well as so
what it tells you is no top line you've
got revenue and you've got you profit
and then you've got your electricity
costs so with this particular hardware
that quite here the GTX 970 and the rig
overall we should be making one dollar
and forty six per day and revenue and
the profit which is our retained amount
after electricity costs so I had to
think about that one for a second level
of course is you know profit but willing
to try and word it accurately so yeah
point eight six cents per day is that
actual profit amount so you can see that
experiments the top earners there you've
also got like the exchange rate of time
and difficulty over time as well and
what you can find is that if a coin
becomes really popular and lots of
people jump on the bandwagon it can
start off quite profitable at first but
in a difficulty starts getting higher
and higher then quite quickly
you'll Eva gets this like equilibrium
point or you will start losing money
missing boat mine but you just won't be
in as much money so again further down
the list
it's another each hash crime which is a
three-room classic then down from there
you've got a fair coin and it goes down
from there and it always includes
Bitcoin as like a default kind of
reference so just ignore it because
you're not mining Bitcoin with your
preface card then you've got to have
then you've got like a quiet coins and
stuff that you can see shoved down with
our hardware to mine those is basically
a loss so it actually cost you more
electricity then getting back in in
revenue so that's how that works
I'll just show you one other side as
well
the next site is called what's mine it's
basically very much the same but it
supports if you do different other coins
and it's always good to get a different
perspective on on your data
so this funny is called what to mine and
it's not one that I've used and I don't
use this one and quite as much really
because the coin was one was kind of
like first to provide such a service and
I've kind of use them since so pretty
much exactly the same sort of setup so
you just don't turn kind of on and off
which once you want I'm just going to
start button them all of British rulers
of um so that then what we want is we
went near script before each Ashe and
Clark so near script was five nine five
go - frame 22 15 which of which is the
same although lock set will go up and
down gets all I usage and I quark 16
point 190 open same passage in there as
well now if we actually calculate it
sorry we've also got the actual
electricity cost there as well I'm same
as with the Cuomo's website not plan one
or ten cents particular well I'm just
calculate okay so this is actually
bought back a slightly different result
according to what to mine
it thinks further coin which is a new
script algorithm if think that's
actually more profitable so in things
the revenue is going to be a dollar
forty seven and the extra profit is
going to be 87 cents and second you've
got a one point four five revenue and 85
cents for a forum also in kinetics and
it's air as well and a few others so
it's kind of very similar and just
coming back to issue see what coin on
water forever coin say coin wars are
reported one dollar twenty eight in
revenue and this is reporting one dollar
forty seven the reason for that is due
to exchange rate
fluctuations I don't know exactly which
exchanges coin laws use but with what
2:1 you can sort of pick and choose
exactly which exchanges when you so
don't like useful if you have a
particularly preference to a major
exchange it will just allow you to
comment on exchange of coins quickly and
easily and most profitably so you can
see on this that it's not very very much
difference and overall there but you can
kind of see exactly how you can
determine which points the most
profitable to to mine and then from that
point you can obviously mine your coins
they go to your poor athletes your
wallet and then from your wallet you can
send them to an exchange and sell them
for Bitcoin and hopefully you're going
to be doing that probably on a regular
basis and from that point you can
obviously get the best profits from your
hardware so that's about it for this
video thank you very much for watching
hopefully you found this useful and
you've enjoyed watching as always if you
have any questions or comments please
don't hesitate to leave those in the
comments area below and I'll put a link
to each one of the websites in the
description so you can easily find those
and thanks again for watching take care
bye bye