If you are a GPU miner you have probably heard of or used NiceHash. If you are paying attention to your returns, you've large drops in revenue over the last couple of months. An Nvidia GTX 1080 TI went from averaging $4 to $6 dollar a day in BTC to $1.20 as of March 18th, 2018.
If you look around the internet, there are numerous posts going around right now suggesting you should shutdown your rigs since they are currently not profitable. However, this is not the case!
Mining Garlicoin is more profitable than NiceHash right now!
- I'm seeing 15% to 30% profits over NiceHash
- I'm also using about half the electricity to mine with the Allium algorithm that Garlicoin
Because of this, I have switched all of my GPUs to mine Garlicoin until the market recovers and NiceHash recovers with it! If you are thinking about abandoning ship (or looking to generate more profit) take a look at Garlicoin. Believe it or not, the power of a coin based on Garlic Bread is actually a great coin to mine!
How to mine Garlicoin
There are several pools and exchanges you can use. I have been mining with Fresh Garlick Blocks to a Nanex Wallet. I then sell (or HODL) the Garlicoin and get NANO. I then sell (or HODL) the NANO to BTC. I send the BTC to Coinbase and then turn that into USD. My typical rhythm for crypto in general is to hodl half of what I mine and turn the other half into USD.
This is what I've been doing:
- Make an account at Nanex
- Once signed up, get your GRLC deposit address, you will use that for mining
- Download a miner that supports Allium
- Follow the Fresh Garlic Blocks Instructions to setup your miner to point to your Nanex Wallet
- Run your mining exe (Make sure you are not running NiceHash!)
- You should see GRLC showing up in your Nanex GRLC wallet after 5 to 20 minutes!
Normally NiceHash is the best option, but when it isn't, I'm always on the lookout for NiceHash alternatives. As I find or hear of more, I'll make more posts!