Latest posts of: Hesiod

Hi Toi,

I'm new to the forum as well, although I've been reading it for a while. I built a ~2000$ GPU rig myself 2 weeks ago and already got ~200$ worth of litecoins out of it.
However, difficulty IS increasing (more people are mining hence everyone gets less coins per khash), and quite fast: by 20% since I started mining (Christmas must have had a lot to do with it) and the rig is making 20% less coin per day than it did 2 weeks ago.
Everyone who tries to predict whether it will interesting financially to mine really is just making guesses, as too many factors are at play, the profitability of mining resulting of an equilibrium between people buying the coin and people creating it by mining.

A few facts remain that got me into mining:
- Whatever the short term return or not on investment, you can just hold on to your litecoins and wait for their price to go up.
- It is fun if you are a bit of a computer geek, you'll get to learn or improve your knowledge of linux.
- It is really cool to participate in something that could change society.

And just to answer your question, GPU rigs won't be unable to mine litecoins as the difficulty increases, the number of coins they can mine will just be reduced, unless as for bitcoins 100x speedups can be achieved with scrypt-ASICS, which is very unlikely. Scrypt-ASICS will surely be able to reduce electricity costs but won't give massive speedups, and GPU rigs will be less profitable in comparison, but not completely outdated like for bitcoin mining.

Cheers