bitcoin / litecoin mining

Nope.

Litecoin had a bubble, and so many people jumped on to it.

People will continue to mine it even if it's not profitable... just in case!

And we'll get priced out of the market first - highest elec costs.

 

Winter is coming though 4 7970's are a nice subsidized heater

 

i can vouch for that!!! i have 3 hooked up and watercooled, the heat coming out of the rad in MENTAL, on an 18c day the room is 26c. GPU core temp is still on 55c

 

Get a few rigs in the room and you've built yourself a sauna ahah

 

yep i have 3 other rigs in the room all sporting 3x 7870 XT with boost (baiscly 7930's called 7870, dont know why cause the core is the same as a 7970 and it CANT be xfired with a different 7870) and 1 other rig with 3x 7770.

Its a hot, noisy hell

 

you guys are joking about this but my mining this week has been keeping the house nice and warm, I haven't turned on the heater, I expect not to use it for the rest of winter ....

I'm sure this use of waste heat technically reduces the cost of mining significantly.

 

It's still a bit warm in Queensland. I figure it'll get better coming into the winter months though.

 

While I eagerly await the construction of my 2 x 7970 miner my Toshiba Lappy grinds away in the spare room at an earth shattering 6-9 Mhash/s. I even noticed the difference in temperature in the room with that running. At least its a start 1 x Litecoin takes weeks to create.

 

im not joking about it.

My cat lays infront of the PC soaking up the warmth....sometimes i find my wife in there to even though she hates what im doing. "what do you mean in making money?, you cant just make money from nothing" then i go on to explain how the FED ect does it and then all i hear is zzzzzzzzzzzzzzzzzzz.

 

HAHA, Cind3r.

Yep, my housemate asks the same.

 

I'm hearin yah she should be happy: wanted 1 x compulsively contented drugfree supermodel, needs to think like a man, be great cook, enjoy cleaning, fond of partners awesome hobbies etc etc.

 

I don't see the point in "starting" to mine bitcoins with gpu since the asci mining devices will be rolled out heavily over the coming months ( butterfly labs is a real company, poorly run but from my understanding the pre orders will start to be rolled out shortly ) and just a matter of time before the supply of these are readily available , even buying these devices may just become obsolete as more competition comes onboard, price becomes cheaper and the next generation devices are released and every man and their dog will be running them which poses the questions of difficulty rates massively increases to the point where a 25gh/s will not be profitable in the near future. Please correct me if i'm wrong i'm no expert just from what i been researching and still only new to this game.

My other question is if Asci mining does not work on litecoin , than would this be a more profitable option and will litecoin become increasing popular from the bitcoin gpu miners if they cannot make money and afford the asci mining when its fully rolled out.
not sure if you have seen this youtube video but i thought he pointed out some good points. https://www.youtube.com/watch?v=4fwAseQoUCs

I know all these are "what ifs" but surley these new deviecs will ruin current mining methods and will cost you more money in electricity.

Apologies if this has already been covered, but i want to stress starting to mine bitcoin, going out now buying new cards to get the best hash rate when you can pre order 5gh/s for less than a video card ( for a june delivery )

 

ASIC and yes this is entirely possible, but it hasn't happened yet,

Once it does happen I can sell my hardware to recoup initial investment costs or move to mining LTC instead.

Or maybe I will just use current profits to invest in ASIC hardware and mine LTC....

seems preemptory to make any changes just yet, either way it doesn't matter so much because the difficulty of the network adjusts based on the processing power applied to it, hence this wont devalue any existing bitcoins by flooding the market...

edited to add nerd facts:

(ASIC application specific integrated circuit, ASCII american standard code of information interchange)

 

Litecoin mining is already more profitable.

Better off mining litecoins, converting to bitcoins.

 

maybe it's the hardware I'm running but it's profitability probably needs to be more like 150% before it becomes better for me

 

How so?

 

Was like 200% not long ago.

 

so would a 500 hash rate would be ok to give litecoin a try or am i wasting my time?

 

1.5 LTC per day.

 

I'm just seeing if some calculations I made are right (I'll give it 24hrs) and if so I'll let everyone know what I am doing now!