Bitcoin going down, NH returns, what to mine these days and WTH is wrong with the market?

Bitcoin Cryptomining

With Christmas on the doorstep and people cashing out for the holidays, Bitcoin price plummeted to unexpected levels. My worst prediction was around 13k, but we’ve seen prices even under 11k, and that’s not even the worst we could face until after the holidays. Being a miner at times as these pays off though. While traders rely on shorts, altcoins usually get a nice pump, and I can’t complain about the free boost in the amounts I get in Bitcoins at the end of the day.

Is it time to panic? Well, the world didn’t end, unless you bought BTC at 19k (I really feel sorry for you if that was the case, believe me, I feel sorry for anyone able to spend 19k not even on a hunch). And no, not nearly. But you may prepare to buy in a day or two, afterwards it is going to be a bit of a rough ride until the beginning of January and then a straight up when the world comes back to order. Well, until the Chinese NY, at least, then the cycle would repeat somehow.

Fat wallets in the TOP1000 didn’t change a lot, but some of them got even fatter.So don’t believe everything you see on the exchanges, until the TOP100 moves and the TOP3000 starts shrinking, there is no much reason to panic.

I hate to say but money draw more money, as always. If you are one of those fat wallets – feel free to tip me @ 39jo7ygNTqdxsgCtJ5PaU8boLZ69Ta28JX for no reason other than you got even richer!

I’m not a regular trader or a guru, but removing the unexpected December boost from the equation kind of points at where we are anyway.

Nice hash and mining

The last few days were marked by the return of Nicehash – I even used it to buy some hashpower, but for a hundredth time I was beaten by the NH to pool relations – too much rejects going on, and with losses as these and the bad choice to put my bet on Lyra2rev2 – I was able to pull the same amount of coins back, but not to get more than invested. Lyra2rev2 is going down, too much people mining it, and, unless you catch some rare moment of piece, you won’t make much profit.

But then you can pull out your Blake2s miners – XVG gave it nice boost to the point it became the most profitable autoexchange algo. x17 also went under the spotlight, it has always been XVG-only algo so it was not the best to use for quite some time but now it’s nearly on the level of blake2s (palgin mod and Alexis78 are up to the task again)

Meanwhile you can try mining some SPARKS with Neoscrypt (using KlausT ccminer) – despite being a bit late to the party, you can save a bunch before its pumped. I didn’t, can’t say why, but I felt as if I’m late already.

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