What should you mine? Beginner Guide

Well isn’t that the 553 Penny question.

I’m going to be writing a book/guide for beginners soon but to be brief:

Catchy name, but not totally stupid*, For example: would someone ever say “dude can you get me a burger ill shoot you some <insert name here>” something like “BoogerCheeseCoin” would not be a realistic filler for that variable. Bitcoin is. Eth is. But there are many others that could be smaller denomination and be used as at the very least bartering between friends over sandwich costs. Maybe a BitcoinTurquoise or whatever. (I don't think $BTCQ is necessarily going anywhere I am just using it as an example)

Is the symbol/picture something people would recognize or something people would grow to recognize.

Is it on one of the top 10 exchanges I trade on.

Is the net hash low enough that I can be at least 10% of total net hash? Difficulty is down? Price is up? Good market cap? If something is all of those at the same time it’s a unicorn or mirage. They don’t exist. So you try to get the best of what you can from those data points.

Then there is the little things like, I mine a lot of coins with bitcoin in the name because Normies associate bitcoin with big gains. Normies who don’t know much about trading are going to be the primary customers.

Meme coins that are actually real memes people have seen. For example: I joked about CCC (CeilingCatCoin) being a silly joke going nowhere especially considering the project was abandoned, but I said whatever I’ll get a little bag since the net hash was 30mh and I can do 450+. So I got my little bag and then the rest of the week it kept going up 557% then down then back up in another spike. I just kept listing at the high prices. By the time everyone figured out their .bats and found a pool I had already gathered a good bag of coins. Traded it all for doge. Eventually people started to actually mine it. So no reason for me there. $LTZ was a gravy train until halving. $CMS is great for riding waves.

Your profit gains are really not even as much about the mining, as it is about the trading and liquidity pools. That’s where all the money is. Mining just gets the coins to market. Some people say “Just put money in and buy and sell,” no that’s gross and I won’t do it. We are gold rushers racing to find new gold patches. Not a hedge fund. I also have a strict commitment to NEVER putting real money into crypto. Just taking it out. I made a dumb mistake and got scammed really bad (Sold a truck to fund it). So exactly 0 will go from my bank to buy crypto from now on. If that's the "hardest way", Hardest way only please.

*titcoin was gonna have a moon day, saw it coming, didn’t buy it cheap to sell it because explaining to my wife I bought a bunch of tits online would be difficult if my predictions were wrong. You lost our money on titcoin! Sounds like a good skit though.

I'll be doing blog posts like this, guides, and more here at my My Website BuffaloCrypto. From .bat writing guides to liquidity pool management.

Thanks!

Andrew