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that is what I was thinking too. Taco time.
"IF there is enough volume to buy that many coins at a constant rate (big assumption)"
crazy rabbit what do you mean by this?
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I am interested in this too. I thought that ltc was supposed to be cpu mined what happened? I have access to large amounts of cpu power, why not use a cpu to mine?
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Sounds like I might need to buy someones gpu rig that they were mining btc with, but not using on litecoins? I am not worried about the price. I can sell them.
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EDIT: Any GPU mining rig for Bitcoin will mine Litecoin. So search that and you will find what you need. Basically just a computer and a GPU card. They all mine, just depends on how powerful their hash power is. That said, the more seriously you take it, the more money you will lose at this point. I know it's a sad statement, but the GPU mining days, especially for the small miner, are nearing the end.
How much would I have to spend to not be a small miner?
So there should be GPU's every where that arent needed because the ASIC's have taken over right?
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Any advice would be great.
If you are doing this as a hobby that's fine but if you expect to make money out of it then you will be disappointed. If you must have LTC buy it on btc-e, it's cheap now. Just be aware that there is a pretty good chance it's going to continue downwards, not upwards. It isnt going to continue down. |
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Any advice would be great.
If you are doing this as a hobby that's fine but if you expect to make money out of it then you will be disappointed. If you must have LTC buy it on btc-e, it's cheap now. Just be aware that there is a pretty good chance it's going to continue downwards, not upwards. +1 Not only that, mining LTC runs your GPU's much hotter and draws more power. If you want to mine for the hobby aspect of it, more power to you- but it's a lost cause at this point. The trend is downward, and if it weren't- you would be quickly overwhelmed by massive GPU power that previously was mining bitcoin. So it's a lose/lose situation. Do it if you enjoy it and you must, but you will lose money on it. EDIT: Any GPU mining rig for Bitcoin will mine Litecoin. So search that and you will find what you need. Basically just a computer and a GPU card. They all mine, just depends on how powerful their hash power is. That said, the more seriously you take it, the more money you will lose at this point. I know it's a sad statement, but the GPU mining days, especially for the small miner, are nearing the end. I will make money mining them I can sell as many as I can mine for 8 percent above spot in fairly large quantities. The price is going to go up! I need a flow of coins not just what I can send wire transfers for. I thought these things were mined with cpu's? what happened? Why does it take more power to mine litecoins? |
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I think the point was sort of missed in your reply sublime...
The major benefit of selling BTC for Paypal on places like eBay is the high markup you get. BTC sold on eBay cost a lot more from what I've seen rather than if you purchased them at an exchange.
No you dont understand how ebay works. I dont get a crazy mark up and it is full of scammers. I would get $2 when I sold a coin off ebay. The fees are nuts on ebay. when coins were 14 I would sell then for 19.50 and would make 1.9 to 2 bucks. |
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If there is a list of what is needed to build a rig some where that would be great.
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Thanks smoothie great advice.
I really was hoping that my rig would not need any constant adjustments. I am going to set it up in raleigh NC and i live about 2 1/2 hours away. I have access to a mini data center that my dad's software company uses as a test bed for his data center management system. It has overhead power 240v with metered power strips and they have one server cabinet in the test bed area there is a second cabinet I could move in there as well, I am not sure how many server blades are installed? and a network rack as well. The test bed has a huge warehouse fan for cooling and my dads software can manage it. They do remote monitoring of data centers, I can check the temp, power usage, and can even turn servers off and reset them remotely.
I really dont know much at all about this stuff. So feel free to talk to me like a 5 year old when it come to suggestions.
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The US cannot continue to dramatically reduce increase their debt because the economy would collapse. I really don't want to type up a long response on this, so I suggest you seriously research the subject yourself.
FTFY FTFY You are both right. This system is not sustainable it requires exponential growth of debt which isn't possible, so if we stop deficit spending the economy will fall into depression and if we keep spending we will eventually do bankrupt and default. Watch this video you wont regret it. http://www.youtube.com/watch?v=iquemUNNYY8 |
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I can't believe anyone wouldn't know but, The advantage is this... Everyone has it (in Us), if you sell btc on ebay that is the payment method everyone uses.
So I am a ebay seller. When I sell it goes like this. I sell btc I get paypal if I want to get more btc I have to transfer from PP to my BANK from BANK to DWOLLA from DWOLLA to MT, GOX this process takes between 6 to 10 days. Then as soon as I get the coins they are all gone and I am out of inventory again.
So I really need to be able to go pp btc pp btc pp btc. instantly.
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I decided I am sick of dicking around trying to get people to sell ltc to me so i am going to put together a mining rig. I have everything I think I will need other than the Gpu's. I was wondering what kind I should buy? I have 3k or so to put into it. Any advice would be great.
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Ya I wish I had of done a little more reading before I jumped in. I am not going to be able to go back because I didn't lock in my user name and am unwilling to change to another one. That is my name for everything and I want it to all be the same, plus I am banned  |
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I want to buy 200 $ worth of litecoin with a money pak at spot price you pay the 5 dollar MP fee!
Let me know if anyone is interested and I will go and get the money pak.
Tomorrow would be the soonest I can get the card.
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I am going to admit I did read the whole thread just the first couple post, but I would say what is needed is a tutorial. If there were a 5 min video that could explain the main points of of how to use and behave on the forum it would greatly help.
I do have a friend a who is a video producer if the forum wanted to pay him i am sure he could make a decent video for cheap.
I think the reason that your time wasnt logging is because you weren't active on the site. Which is the way it should be.
Sorry if I have posted information already covered.
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I am going to quote you on this and then throw it in your face in a year or two. Really small thinking in my mind. Ltc will be adopted much faster than BTC was. Bitcoin already proved the concept, litecoin won't have the same hurdle to cross. In 5 years they will both either be dead or widely accepted, along with some other coins too.
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That would change if more markets started to accept it. duh. I have litecoins to spend there.
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Sorry I only wanted to quote littleshop. |
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