Gone are the days where anyone with very limited knowledge or research could pick a coin to mine and achieve returns of $50 -$100 dollars per day. In today’s market, successful mining strategies involve countless hours of research and due diligence.
MiningStore has had an exceptional track record in providing our community with quality coins to mine. The MiningStore community was mining Ravencoin back when you could mine thousands of the coin per day. Ravencoin is now worth 5cents AUD per coin, meaning our Mining Stategy was achieving profits of $200 AUD per day. Miningstore also had our community mining Loki coin back when you could mine 30-50 loki per day. Loki is now worth 75 cents per coin meaning our strategy was achieving results of over 30 dollars per day. PASSIVE INCOME!
So what is MiningStore suggesting to mine now?
MiningStore is a big believer in RYO Currency. Here is a quick summary written by Stephen from Dapp.tech on why he feels Ryo is so undervalued…
Here’s 12 reasons why I think this project has an extremely bright future. I’m not thinking 10x or 20x gain target, I think those gains are a given, it’s just a waiting game for bull market to return… but long-term I’m thinking a target more like 100x – 1000x potential and may even one day in the future reach a market cap near or exceeding of what Monero has achieved. Thus my strategy is to sell small amounts at different profit levels along the way and HODL a reasonable portion of it for many years if developers remain active.
1. One of the most private (anon) coins in existence, more so than Monero. Min Ring Sigs have been 10 or more since the genesis block, which allows for far higher blockchain analysis resistance than Monero. Countries with tyrannical governments that don’t respect human rights and those with extremely financially corrupt governments should see strong demand for the best anon privacy tech coins available going forward.
2. Ryo does not have “counterfeit” coins in circulation like Monero does. Cryptonote Protocol and thus Monero (XMR) had a bug where an unknown amount of counterfeit coins were made. (Refer to paper: “MRL-0002: Counterfeiting via Merkle Tree Exploits within Virtual Currencies Employing the CryptoNote Protocol” at https://lab.getmonero.org/pubs/MRL-0002.pdf )
3. Lead developer (Fireice_uk) is the highly-respected developer of the XMR-STAK mining software.
4. Very, very low circulating supply.
5. The Developers continue to deliver, they release very fast fixes to bugs, and were one of the fastest to create and implement ASIC resistance when the Bitmain Cryptonight ASICs were discovered.
6. RYO develops innovative tech that Monero want to use.
7. Top notch community that continue to build for a big future, they don’t focus on pumping or hype their coin and are in it for the long haul. Devs are very active in their telegram channel. Lead dev Fireice_uk discusses things at length with the community and they are open to debate and different point-of-views (i.e. no censorship)
8. Fireice_uk (RYO lead dev) is the inventor of the ASIC-resistant Cryptonight-Heavy algorithm
9. “Dev-fund” is slowly emmitted over 6 years to fund continued development. No exit scam possible.
10. Camel Distribution: Coin emission inspired by real-world gold mining production. A more decentralized distribution of mining rewards over time as compared to Bitcoin.
11. Ryo will continue to focus on GPU miners, making changes to POW algo to stay as ASIC resistant as possible.
12. Ryo has built 51% attack resistance into their POW consensus code making it virtually impossible to conduct a double spend attack even with control of more than 50% of the networks hashing power.
For more recommendations on what coins are best to mine, feel free to join our Discord channel where we post our recommendations.