Lite coin mining

[mavromixalakis]

Hi all,

I am interested in LTC mining.

Can you please propose me the best mining pools?

Thanks

[CryptoJunky]

I've had good luck with Coinotron, though they have experienced a bit of downtime. You can find a good deal of litecoin miners over at the litecoin forum as well:

http://forum.litecoin.net/

There has been some controversy with Litecoin recently, so I'd advise against using them.

[boobies]

give-me-ltc and we-mine-ltc seem to be the 2 with the best 'luck'

[ole23]

I have been mining at litecoinpool.org from when it first started and haven't had a problem yet. Here is a link comparing mining pools.

https://github.com/litecoin-project/litecoin/wiki/Comparison-of-mining-pools

good luck with the mining.

[mavromixalakis]

Thank you all for your replies...

Why so pessimism about Litecoin mining?

I am very newbie to all these so I was trying to solo lite coin mining with QT-litecoin and it shows me all the time 0 hashes... I was wondering if i need to do anything else... shouldn't at least show very some small hashes??

I was thinking to join a respective pool mining so maybe they can take me through the steps to start mining...

Any suggestions why i have 0 hashes with solo mining?

Any suggestions in general to getme starting somehow?

Any comments are greatly appreciated!
Many thanks!!

[ole23]

I am not against litecoin mining, in fact, I have been mining for about a year now. with the difficulty litecoin is now, solo mining is not going to be worth it unless you have like 10 7950's. A pool is your best bet now.

As far as helping getting started, I need a little more info:
What gpu are you using? If you are just trying to use a CPU, your burning electricity.
What OS are you using (Windows, linux) and is it 32 or 64 bit?
How much ram and what speed? believe it or not, scrypt (what litecoin is writen in) requires good fast and plentiful memory.

[mavromixalakis]

I am not against litecoin mining, in fact, I have been mining for about a year now. with the difficulty litecoin is now, solo mining is not going to be worth it unless you have like 10 7950's. A pool is your best bet now.

As far as helping getting started, I need a little more info:
What gpu are you using? If you are just trying to use a CPU, your burning electricity.
What OS are you using (Windows, linux) and is it 32 or 64 bit?
How much ram and what speed? believe it or not, scrypt (what litecoin is writen in) requires good fast and plentiful memory.

Thank you very much for your reply. For the time beeing i use a 5 year old laptop which i am sure is not meant for this purpose...
I was just trying to make sure that i will be able to mine if i invest money for new CPU and GPUs... I am not expecting to mine with the current equipement but shouldn't at least show me a very very small hash?? If the reason i get zero hashes is that i am using a laptop not for this purpose and this is normal i am ok with this...I will eventually buy some new equipement specifically for this purpose... I just want to make sure that the reason i get zero hashes is because i am trying to do this with a laptop and not because i have to do other things which i don't know how to do and end up investing money in equipement that i will not be able to use.
I am currently using windows... not even sure if it's 32 or 64 bit....

Any suggestions for the best things i need to buy for Litecoin mining? Not exceeding $1,000?

Thank you very much for your help and I appologise in advance if i appear like an idiot with my questions...

[mavromixalakis]

Finally,

With current difficulty levels for all the cryptocurrencies which ones do you think i should concentrate in mining?

NMC,LTC,Teracoin etc...?? I know that BTC is out of the question if you do not have an ASIC..Correct?

If i invest something around $1000 in GPU CPUs can i get a descent equipement for cryptocurrencies mining?

Is there a site i can have a look showing the difficulty levels and what is more profitable for mining? Can i change from one currency mining to another or everyday i should concentrate in a specific currency mining?

Very very newbie to all these...but very interested to learn...I hate government manupilation in Fiat currencies and i want to invest in the future... Don't know how to do this (yet...)

Thank you very much

[ole23]

Let me start off with another link here: https://github.com/litecoin-project/litecoin/wiki/Mining-hardware-comparison

This shows CPU and GPU hash rates. For example: if you have an old pentium M, you are getting from .8 to 1.2 kHash/s. At that rate you will NEVER find a block! (well, you will, but will take about 29480 days and 12 hours if my math is right) In a pool you will make about 15 cents in 30 days.

for 1k you can setup a good rig! I bought a someones old AM2 motherboard, CPU, and 2gig combo on Ebay for $100.
You can also find older cards that people are selling off here as well. Newegg sells 7950's from $289 and up and will give you about 600 kHash/s.

If my math is again correct, and the exchange rate stays a $3 per coin avg, that's 1200 kHash/s total, you should find a block in about 24 days 12 hours. In a pool i would expect to make about $185 per month. Solo, I would prob say about $190.

Hope this helps.

Well, when it comes to the ASIC's, the question is will they ever be delivered? I think BFL has been pushing back the delivery dates for about 6 months now! everyone is buying up the pre-orders like crazy and for 3 times the orig price. The other thing about ASIC's is the ones who got the 5gHash/s got the short stick because as soon as the 50 gHash/s come online the difficulty level is going to go though the roof!

[mavromixalakis]

Thank you very much ole23. Greatly appreciated!!

[ole23]

I forgot to answer one question or you. I cann't seem to find a site that has cryptocurrencies difficulty levels. However, if you go to a pools home page they often list it on there. With everyone leaving Litecoin for other alt-coins, the difficulty is going down, meaning more profit for the miners who hang around.

[Bitmong]

http://www.dustcoin.com
http://www.coinchoose.com
http://www.coinwarz.com

These all show the profitability for mining of different virtual currencies.