Published Mar 22, at 9: Nowadays, things are different. Like most extractive industries such as oil, timber, or coal, the industry is dominated by large, efficient players and the profit margins are razor thin. These are called altcoins. Some of the more popular ones include Ethereum, Litecoin and Monero. Bitcoin and all cryptocurrencies have various properties including their mining algorithms, total number of possible coins, difficulty how hard they are to mineand of course, their price.
Ripple cannot be mined. Choosing which coin to mine is a complicated question, but fortunately, there is an easy solution which avoids answering it. Nicehash is a website that allows on to hook up their mining PC and simply let it mine what Nicehash determines what will be the most profitable.
Nicehash then automatically pays its users in Bitcoin. This article describes 5 products and ways of mining alternative cryptocurrencies. If you want to gamble on crypto, throw your money in directly. If you want to invest, talk to a professional money manager or stock broker.
If you want to nerd out and extract cryptographically generated numbers from the Internet, read on. Depending on the specs and components in your computer, you may even be able to get a decent amount of crypto. If you have a graphics card in your PC, you will fare much better.
If you only have a CPU, however, I would advise you spend some time researching which coins can be effectively mined with a CPU and, even more importantly, which coins are bound to appreciate in value.
This thread on Bitcoin talk is a good starting point. Full disclosure, as someone who has been willing to invest only marginal time in researching which coin to mine, I have opted with Garlicoin. For one, mining it was straightforward. For two, it bears considerable resemblance to Dogecoin. Since Garlicoin is similarly a memecoin and has a very popular subredditI believe it could be a good investment.
The more likely scenario is that something more drastic will happen. Prices will go up or crypto will burst.