Another Question:)

[BitshireHashaway]

Sorry for all the new threads guys, I'm trying to get the hang of this

Anyway, so I've heard that ASIC are absolutely horrible at mining Litecoins. So, my question is, for someone like me who probably won't be able to get into the GH/S of power using ASIC or super large setups, would I be better of trying to get Litecoins vs. Bitcoins. Because for Litecoins, it is correct that no one can come in and destroy everyone else using an ASIC. Therefore wouldn't the difficulty of Litecoins be easier so for someone with a 20mh/s system right now like me, I'll make more profit? Or does the price difference make up for the extra that I'll get?

[vm1990]

litecoins are easier to mine but worth alot less which evens it out most people earn more from litecoin than bitcoin pretty much full stop
ASICs cant mine litecoin at all as there not designed to do it youd just get errors.
when ASICs do come out it will affect things like Bitcoin, PPcoin and Terracoin and some others as there SHA256 based basically they all get mined the same way where as litecoin uses a scrypt

all in all go with litecoin you can still pull out profit with litecoin even CPU mining at the moment and with litecoin being so cheap no one will develop and ASIC for it for a while  

[CryptoBernanke]

I don't think mining is profitable unless you are going to invest in hardware.

[BitshireHashaway]

So once Asic's come out, with a regular laptop, would the better choice be to mine for Litecoins. And at their current price, and a laptop with Intel i7 Quad Core, and 2gb Nvidia 650m, can you guys give me a very rough estimate at how much I'll get from it/day? The laptop also has 12gb ram.

[mazza]

So once Asic's come out, with a regular laptop, would the better choice be to mine for Litecoins. And at their current price, and a laptop with Intel i7 Quad Core, and 2gb Nvidia 650m, can you guys give me a very rough estimate at how much I'll get from it/day? The laptop also has 12gb ram.

Laptops are generally a bad choice for mining because they overheat so easily. You can get an idea of the hash rate for certain devices, here https://github.com/litecoin-project/litecoin/wiki/Mining-hardware-comparison and work out average earnings - http://litecoinminingcalculator.com/

[joey99]

llooks like it is even more profitable to mine LTC now a days so i'd go for ltc

[TrekMccloud]

llooks like it is even more profitable to mine LTC now a days so i'd go for ltc

I haven't started mining yet, but my contact told me the exact same thing. Litecoins all the way was his response.

[ccwirral]

Check out other scrypt based coins too. bbqcoin, feathercoin and novacoin. There is going to be a diverse economy soon enough. bbqcoin is a good one to get started on with a low difficulty to get used to mining.

[BitshireHashaway]

Ok, then my next question would be how hard are these to get started? Because I tried litecoins and it wants me to enter some command line in command prompt and I don't know how all that works, so for the other currencies that you guys say are better to start on, which one is the easiest to start with (i.e. an equivalent of GUI Miner for it).

[Pt0x]

llooks like it is even more profitable to mine LTC now a days so i'd go for ltc

I haven't started mining yet, but my contact told me the exact same thing. Litecoins all the way was his response.

I have been mining BTC for 3 weeks  and Im considering moving to LTC mining due to ASICs. People on IRC tell me LTC its the way.

[joey99]

 

I have been mining BTC for 3 weeks  and Im considering moving to LTC mining due to ASICs. People on IRC tell me LTC its the way.

just be aware the pools are not as solid (uptime) as the bitcoin pools