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1  Alternate cryptocurrencies / Altcoin Discussion / Re: LTC potential bubble is looking like 2011 BTC bubble. on: December 09, 2013, 08:00:01 PM
LTC potential bubble is looking like 2011 BTC bubble.

Let's look back at BTC chart back in the day. Looks like BTC was hovering around the $1-$2 range then skyrocketed all the way up to $30 something then back down to around $3.

LTC is looking quite similar.

I think it's fairly unreasonable to compare LTC's growth patterns to BTC. The growth it's experienced in the past couple months is directly proportional to the fiat price of BTC, meaning LTC is still being used primarily as a means of buying and selling BTC. We as human beings like to try and identify patterns, but expecting LTC to behave in the same way as BTC because its growth patterns look similar on paper is perhaps a bit rash. I'm not saying LTC won't crash. After all, there's a very real possibility that BTC will crash, and if it does, LTC will almost certainly follow suit. There's also the fact that LTC's difficulty has been increasing exponentially since the recent boom. If LTC's trading price for BTC doesn't increase to reflect the increasing difficulty, it could start to get snubbed in favor of FTC, possibly causing a crash. But I think suggesting it might crash because that's what BTC did in 2011 is a pretty major oversimplification.
2  Other / Beginners & Help / Re: My Preferred Method for Getting BTC on: December 09, 2013, 03:54:18 PM
Mine all altcoins, sell when they reach max of price.

I find altcoins to be far too unstable, even the more established ones like LTC. Hence why I'm converting to BTC rather than getting a bunch of altcoins, waiting for an uptick in value, and cashing out to fiat directly. I'm not looking to play the speculation game, I'm just trying to get BTC without needing to purchase them or mine them directly. Perhaps certain altcoins will increase in value over time, but until one of them increases in value independently of BTC, I'm not really interested in investing in any of them as anything other than as a means to get BTC.
3  Other / Beginners & Help / Re: Newbie needing help with Guiminer. on: December 09, 2013, 03:45:22 PM
i m using windows

and i also tried to execute as admin but didnt work

Which version of Windows are you using?
4  Other / Beginners & Help / Re: My Preferred Method for Getting BTC on: December 09, 2013, 03:37:58 PM
Have you look into FTC or DGC? There payout is more than LTC.

FTC may mine faster, but the minimum payout threshold is much higher and it trades at a lot less than LTC. I haven't really looked into DGC yet, though. Maybe I will.

So basically, I mine LTC, transfer it to BTC-E, use it to buy BTC, then transfer the BTC to a wallet or Coinbase or wherever.

Yes, thankfully to alt coins, this is possible. But it is slow way to get BTC, use
http://dustcoin.com/mining

to check what coin is most profitable to mine

That's pretty handy, thanks.

Newbie here. Since I apparently have to post something substantial before getting access, I thought I'd share my current process for acquiring BTC. Since I'm just a hobbyist and wasn't really looking to dump money into an ASIC miner or something, mining BTC directly was taking way too long. LTC, on the other hand, is much easier to mine with basic computer hardware and is currently the second-highest priced alternate cryptocurrency.

So basically, I mine LTC, transfer it to BTC-E, use it to buy BTC, then transfer the BTC to a wallet or Coinbase or wherever.

If you're having issues getting any significant results from mining BTC, I'd recommend this method instead.

what basic computer hardware?

An old-ish Windows PC with an NVIDIA GPU.
5  Other / Beginners & Help / My Preferred Method for Getting BTC on: December 09, 2013, 03:26:18 PM
Newbie here. Since I apparently have to post something substantial before getting access, I thought I'd share my current process for acquiring BTC. Since I'm just a hobbyist and wasn't really looking to dump money into an ASIC miner or something, mining BTC directly was taking way too long. LTC, on the other hand, is much easier to mine with basic computer hardware and is currently the second-highest priced alternate cryptocurrency.

So basically, I mine LTC, transfer it to BTC-E, use it to buy BTC, then transfer the BTC to a wallet or Coinbase or wherever.

If you're having issues getting any significant results from mining BTC, I'd recommend this method instead.
6  Other / Beginners & Help / Re: My CGminer won't connect to the mining pool on: December 09, 2013, 03:16:54 PM
Hey everyone, I'm a newbie miner mining with an NVIDIA 3100M

everytime I run my CGminer it displays:
Pool 0 slow/down or URL or credentials invalid
no servers were found that could be used to get work from


I have checked my mining pool URL http://pit.deepbit.net:8332
and the username is the same as the one when I registered to the mining pool

Could anyone tell me what should I do to get my CGminer worked, any further settings should I make?
Thanks a lot  Smiley



Have you used this particular mining pool before? If not, I'd suggest trying a different one to make sure the problem is with your computer, not with the pool.
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