Denatured alcohol is by far the best fuel for a soda/penny can stove. It doesn't cost much either…find it in the paint section at walmart or homedepot.
I know we are now getting into the hobo stove thread but they are along the same lines so here it is anyway. You've seen the penny can stove online where they pre-heat the can top by burning some fuel on the top first. This serves two purposes. First, and most important, it heats the liquid fuel inside the can and turns it into a gas. The gas increases the pressure which makes it exit the holes like they are jets and makes your stove more efficient. Another way to pre-heat it is to cut the bottom of a tuna can off and set your soda can stove on it. Put a few drops of fuel on the tuna can and light it...to me this seems to pre heat the stove better. The second purpose is more obvious in that the burning fuel on top lights all the holes. Even with the tuna can method, the flames will jump from the base and light the holes in your stove.
Denatured alcohol readily turns into a gas, which is important to get the best burn, it doesn't have any water (water not good for fire), which rubbing alcohol does and it burns clean so you won't get that black stuff on the bottom of your pot.
And as you seem to be having as much fun with this fire stuff as much as I do...be careful with the denatured alcohol...you might not even know it's burning unless you're in a dark room because the flame is damn near invisible. If you can't see any flame, don't hold your hand over your stove to check...






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