Litecoin mining LTC/FTC/DGC/ETC (Do not offer items for sale in this thread)

Discussion in 'Blockchain & Cryptocurrency Mining' started by ernie, Apr 3, 2013.

  1. r3s

    r3s Member

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    Depends how much your titans draw in power, but i would assume a metric fuckload so it wont be worth it for you.
     
  2. Luke212

    Luke212 Member

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    it looks like $19/day in electricity so its roughly $10 a day profit which is not very good considering you are wearing out those gpu.
     
  3. flinchy

    flinchy Member

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    they only have to last long enough to pay off

    'wearing out' shouldn't be a worry really.
     
  4. r3s

    r3s Member

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    Depends, if you think DOGE will go up or BTC will go up then it might end up favourable down the track...it could also die in the ass, its a gamble.
     
  5. GumbyNoTalent

    GumbyNoTalent Member

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    People mined bitcoin when it was only worth $1 or $2 and mined at a loss, now who is laughing?
     
  6. munchkin1

    munchkin1 Member

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    If that were true I'd be buying a heap of them second hand :)

    Man some of you guys get owned on electricity. Ours works out to around 21c/kWh...
     
  7. Smokin Whale

    Smokin Whale Member

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    Flinchy I can see you are in my AIR pool :p right behind you on the leaderboard.

    Question to everyone - how does one calculate the expected block reward based on a certain block size, frequency and difficulty? I was thinking of adding it to my spreadsheet but I've gotten lost on the math.
     
  8. Gunna

    Gunna Member

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    What state are you in? QLD is charging 26c i think
     
  9. flinchy

    flinchy Member

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    ahh i see you then, only person around 8MH? :p

    what do you mean?

    I'm not sure how to do it the long way if there is one

    the easy way?

    if you have 10% net hash rate, you'll get 10% of the block reward on average.

    I'm sure difficulty has some sort of simple (enough)formula based on hash rate.

    so just have an input for your hash rate, an input for net hash rate, reward size and frequency

    so depending what timeframe you're after (daily? hourly? per block?) blockreward(net#/your#/100) for individual blocks.. or blockreward*blocksperhour*24(net#/your#/100)

    you could probably make a function up fairly simply for expected difficulty fluctuations based off historic data.. so have (net#) reference a formula that works out AVERAGE over say a 24 hour period.. or hell, even simpler, just check the average fluctuation and multiply current hash rate for what the average should be over the desired 24hr period.

    ED: if you wanted to get precise with hash rates.. could probably do some sort of chart to work out the average or something.

    anything more complex or automated than that involves API, and for google spreadsheets, the ability to set up google scripts, and JSON stuff.. i tried and failed, my knowledge set does NOT go there yet :p

    would love to have access to API stuff for easy access handy dandy for ANY coin you wanted, not just the ones coinwarz shows.
     
    Last edited: Mar 13, 2014
  10. Hive

    Hive Member

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    Just a quick question.

    What is the most profitable coin to pool mine with 13,000KH/s on scrypt.

    In terms of selling to BTC right away, via cryptsy or such?
     
  11. MonoJoker

    MonoJoker Member

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    All the ones who didn't have them stored on mtgox? :Paranoid:

    I think it's currently more profitable to mine a multipool and buy your doge given it's relative weakness compared to BTC.
     
  12. flinchy

    flinchy Member

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    multipools are the usual answer, you'll USUALLY do alright

    from a speculative standpoint, AIRcoin is PREDICTED at almost .03BTC/MH right now. which is amazing.
     
  13. maldotcom2

    maldotcom2 Member

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    Ok so i've just walked in here to see what all the fuss is about. Not trolling. From what I can tell, you guys are running these beastly, sometimes purpose-built computers / space heaters, 24/7 at 100% load, and it's a toss up whether or not you make a profit after your electricity costs? Unless there is some enjoyment factor i'm missing, it seems more profitable to do an hour of overtime each fortnight. :confused:

    Someone please tell me there's more to this than a few measly bucks.
     
  14. shredder

    shredder Member

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    No, your quick overview has discovered a new form of logic that's thus far eluded everyone else, and now we're all looking around confused going "huh, huh, what the hell were we doing". Lol. :thumbup: Just ribbing. But you must admit, that makes no sense. :)
     
  15. maldotcom2

    maldotcom2 Member

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    That's why i'm hoping someone can explain it, it doesn't make sense to me.
     
  16. MonoJoker

    MonoJoker Member

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    Maybe read more than skimming the last few pages of this thread and do some general research on scrypt coin mining :thumbup:

    We are too busy looking at the next likely profitable altcoin to write essays explaining how and why :p

    Now, where are my 290s I'm keen to get rig number 2 live this weekend!
     
  17. jadflat

    jadflat Member

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    Execoin could be worth a look if you're set up for scrypt-N
     
  18. MonoJoker

    MonoJoker Member

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    Do you need to be setup as such? The website seems to have custom cgminer client ready for download. I will point some hash it's way just for diversity, you can never have too many wallets of crypto kicking around ;)
     
  19. flinchy

    flinchy Member

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    nah it's not a tossup, there's almost nothing you can do to not make a good profit.

    it's also fun to tinker, and you learn a lot in the process, especially about market/trading, as well as obviously how cryptocurrency works.

    and a lot of the time it's not a 'few measly bucks'.. it's pretty easy to make a few grand profit once it's all set up.

    when you (if you're like me) already work a 50+ hour week... well again, once it's all set up, it's not a hell of a lot of maintenance required to keep it running, just research into which coin is the best to mine, and trading if that's your thing.

    there's a BAMT-vertcoin that has the vertcoin (aka scrypt-n) fork integrated with 13.12 catalyst.
     
    Last edited: Mar 13, 2014
  20. make_out

    make_out Member

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    What pool are people mining Air with?
     

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