Bitcoin Forum

Is mining litecoins worth it? Currently I have a rig with 5x 5830's mining 24/7 on LTC, but am wondering if I should start dedicating some of that to LTC?

Check a mining calculator. After the impending difficulty spike on BTC, most definitely yes.

I suppose the question was vague, I am concerned with the fall of the LTC market. Even worth mining?

No crypto currency progresses on its own. Bitcoin's success is owed to the folk that believed in it since day one and because all other coins are essentially mods of Bitcoin they too have a chance at success if they believe that much in their coin. Perhaps not mass adoption but so long as the currency can be used to purchase anything be it common or exclusive there will be a market for it. So it's all up to you really. If you're getting in to crypto currency to make a bit of fiat then perhaps it won't be "worth it" but if you don't mind owning a unique currency unlike anything else used by any nation than yes it's completely awesome to own crypto currency.

I don't think Litecoin will be crashing down to worthlessness anytime soon -- too many people have too much invested into it at this point. That said, its value has indeed been on the decline for the last few weeks. I believe this is mainly related to the Gox news or lack thereof. As I recall, Litecoin's rise to its ~$5+ peak coincided with both Bitcoin's all-time high and news that Gox was planning to implement Litecoin trading. As Bitcoin's price crashed down from the bubble, so too did Litecoin's. Litecoin still enjoyed some benefit from the Gox news, however. The initial news from Gox seemed to imply that Litecoin trading would be implemented within weeks (which many expected would send LTC shooting to $10+). That was months ago and in the meantime Gox has stated that they have put plans to add more coins to their exchange on the back burner due to more pressing issues. In the last few weeks, what with all of the delays in adding Litecoin trading and Gox's legal troubles I think people have become disillusioned with the prospect of Litecoin on Gox. For this reason some people have chosen to divest a bit. Nonetheless, I don't think this is a trend that will continue indefinitely.

If you're mining for immediate sale, Litecoin may not be the best coin to mine as there are other scrypt alts (and even Bitcoin!) that are currently performing better at any given time profit-wise. If you're in it for the longer run, I still believe there may be a brighter future for Litecoin. I feel quite strongly that we may see $5+ LTC again in the future but I don't know how long it'll take to get there. Anyways, this is all just my own opinion and speculation. :)

Whatever you choose to mine, I wish you well!