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What kinds of questions do you ask about a coin before you decide whether or not it is worth mining?


  • Staff

    How to evaluate a coin

    What kinds of questions do you ask about a coin before you decide whether or not it is worth mining?

    These are some:

    What are my expected earnings for a coin?

    • Number of Coins Mined
    • USD, GBP, etc.

    Has the difficulty gone up/down for this coin recently?

    How has the news been on this coin lately?

    • Mostly Positive?
    • Mostly Negative?
    • Neutral?

    What is the use case for the coin I plan to mine?

    • Utility?
    • Security/Equity?

    Is this coin on a top 5 exchange?

    • Which exchanges?

    What are the financials for the coin?

    • Market Cap
    • % Market Share
    • Price history
    • Volume
    • Momentum/Moving Average

    Who makes up the team for the coin?

    • Do they have a relevant background to make this coin a success?
    • Is their work history completely unrelated?

    Has this coin reached any major milestones?

    • What does the development path look like?

    How many supporters do they have?

    • Discord Members
    • Twitter Followers
    • Facebook Likes
    • Instagram Followers
    • Reddit Subscribers
    • Etc.

    Got anything to add? Comment below!

    Credit: The_Brutally_Honest from /r/GpuMining


 



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