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Author Topic: GPU farms moving over to Litecoin  (Read 10116 times)
Este Nuno
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amarha


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October 13, 2012, 09:55:18 PM
 #1

Just how crazy is it going to get? Anyone starting early on the Litecoin switch over?

Anyone just throwing in the towel and selling off all the gear?

I'm really curious as to what everyone plans. This last part of 2012 is going to be really interesting.
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meebs
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October 14, 2012, 01:43:51 AM
 #2

Just how crazy is it going to get? Anyone starting early on the Litecoin switch over?

Anyone just throwing in the towel and selling off all the gear?

I'm really curious as to what everyone plans. This last part of 2012 is going to be really interesting.

I would imagine that even if someone was trying to sell.. on ebay, craigslist etc.. they'll still mine every last coin than they until they get the price they want.

honestly.. LTC mining is stupidly profitable right now (with current difficulty, fx rate, etc). a single 7950 ($320 on amazon) nets about .25-.3 btc/day when mining ltc.

however... those glory days are ending in a hurry and it'll quickly eqaulize out to what BTC mining is worth due to natural market forces.

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Sitarow
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October 14, 2012, 06:30:41 PM
 #3

Just how crazy is it going to get? Anyone starting early on the Litecoin switch over?

Anyone just throwing in the towel and selling off all the gear?

I'm really curious as to what everyone plans. This last part of 2012 is going to be really interesting.

I would imagine that even if someone was trying to sell.. on ebay, craigslist etc.. they'll still mine every last coin than they until they get the price they want.

honestly.. LTC mining is stupidly profitable right now (with current difficulty, fx rate, etc). a single 7950 ($320 on amazon) nets about .25-.3 btc/day when mining ltc.

however... those glory days are ending in a hurry and it'll quickly eqaulize out to what BTC mining is worth due to natural market forces.

I don't know I may end up moving the GPU portion back onto BOINC..

Just depends on the return for ASIC investment.
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October 14, 2012, 06:42:23 PM
 #4

Just how crazy is it going to get? Anyone starting early on the Litecoin switch over?

I've moved my complete farm to Litecoin more than 1 month ago. I had 18 GHash in BTC mining, and no way I'm waiting for those 60 GHashs ASIC to come by and make my farm completely irrelevant.

Quote
however... those glory days are ending in a hurry and it'll quickly eqaulize out to what BTC mining is worth due to natural market forces.

It's more that GPU will still be relevant for a good chunk of time with Litecoin, while they are going to be almost useless with Bitcoin. Litecoin being more profitable is a great bonus too!
goxed
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October 14, 2012, 06:45:24 PM
 #5

Just how crazy is it going to get? Anyone starting early on the Litecoin switch over?

I've moved my complete farm to Litecoin more than 1 month ago. I had 18 GHash in BTC mining, and no way I'm waiting for those 60 GHashs ASIC to come by and make my farm completely irrelevant.

Quote
however... those glory days are ending in a hurry and it'll quickly eqaulize out to what BTC mining is worth due to natural market forces.

It's more that GPU will still be relevant for a good chunk of time with Litecoin, while they are going to be almost useless with Bitcoin. Litecoin being more profitable is a great bonus too!

In your opinion how much more profitable LTC mining has been compared to BTC?

Looking to review Bitcoin / Crypto mining Hardware.
Brunic
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October 14, 2012, 06:53:12 PM
 #6

Just how crazy is it going to get? Anyone starting early on the Litecoin switch over?

I've moved my complete farm to Litecoin more than 1 month ago. I had 18 GHash in BTC mining, and no way I'm waiting for those 60 GHashs ASIC to come by and make my farm completely irrelevant.

Quote
however... those glory days are ending in a hurry and it'll quickly eqaulize out to what BTC mining is worth due to natural market forces.

It's more that GPU will still be relevant for a good chunk of time with Litecoin, while they are going to be almost useless with Bitcoin. Litecoin being more profitable is a great bonus too!

In your opinion how much more profitable LTC mining has been compared to BTC?

It's not about opinion, it's about facts, check the top-right corner:
http://coinotron.com/coinotron/AccountServlet?action=home

The lowest I saw was 1.2 times the profit you can make with BTC. Usually, it's around 1.4 to 1.5 times more profitable.
goxed
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October 14, 2012, 07:36:29 PM
 #7

Just how crazy is it going to get? Anyone starting early on the Litecoin switch over?

I've moved my complete farm to Litecoin more than 1 month ago. I had 18 GHash in BTC mining, and no way I'm waiting for those 60 GHashs ASIC to come by and make my farm completely irrelevant.

Quote
however... those glory days are ending in a hurry and it'll quickly eqaulize out to what BTC mining is worth due to natural market forces.

It's more that GPU will still be relevant for a good chunk of time with Litecoin, while they are going to be almost useless with Bitcoin. Litecoin being more profitable is a great bonus too!

In your opinion how much more profitable LTC mining has been compared to BTC?

It's not about opinion, it's about facts, check the top-right corner:
http://coinotron.com/coinotron/AccountServlet?action=home

The lowest I saw was 1.2 times the profit you can make with BTC. Usually, it's around 1.4 to 1.5 times more profitable.

Thank you very much. This is enlightening. The gap is closing fast with the LTC diff rising quickly

Looking to review Bitcoin / Crypto mining Hardware.
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October 14, 2012, 07:46:46 PM
 #8

I've moved my complete farm to Litecoin more than 1 month ago.

How do you mine Litecoins with GPUs? Which software do you use?
edit: (I need one for Windoze)
Este Nuno
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amarha


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October 14, 2012, 08:00:21 PM
 #9

How do you mine Litecoins with GPUs? Which software do you use?
edit: (I need one for Windoze)

cgminer
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October 14, 2012, 08:06:01 PM
 #10

How do you mine Litecoins with GPUs? Which software do you use?
edit: (I need one for Windoze)

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vitruvio
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October 14, 2012, 08:09:01 PM
 #11

Difficulty will increase to more than 22 in some minutes, while current is 16.01 and before was 14, and I remmber you that in LTC new difficulty is calculated every 3.5 days by average.

So in less that a month Litecoin diff has double and the price too.

Regards
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October 14, 2012, 08:26:17 PM
 #12

Difficulty will increase to more than 22 in some minutes, while current is 16.01 and before was 14, and I remmber you that in LTC new difficulty is calculated every 3.5 days by average.

So in less that a month Litecoin diff has double and the price too.

Regards

Another reason Litecoin lacks the "stable" factor to be used as a store of value and be used in everyday transactions. IMHO it's a fun crypto-c to speculate and gamble with.
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October 14, 2012, 09:27:43 PM
 #13

How do you mine Litecoins with GPUs? Which software do you use?
edit: (I need one for Windoze)

I use cgminer 2.6.4 currently, compiled with scrypt option enabled. My farm is using BAMT 0.5c. More details here:
http://forum.litecoin.net/index.php/topic,651.0.html

As for Windows, I don't mine using that OS but this section has many useful guides:
http://forum.litecoin.net/index.php/board,45.0.html

Thank you very much. This is enlightening. The gap is closing fast with the LTC diff rising quickly

Mmm, don't think it will stay that way. The gap moves A LOT, sometimes by the hour. Remember that this gap is dependent on:
-Bitcoin difficulty
-Bitcoin price
-Litecoin difficulty
-Litecoin price

If one of theses 4 variables move, the gap changes.
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October 14, 2012, 10:40:44 PM
 #14

I dont have a huge capability compared to a farm, but I am moving my 3 * 6770s + 10 * CPU cores over to LTC this week. I have 2 FPGAs that will remain mining BTC.

Also busy building a 800W wind turbine and integrating the storage and a synchronised inverter so to have $0.00kW/hr after payback. Total set up cost me <$150 from scrap parts (windmill, battery + inverter).

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October 15, 2012, 02:43:45 AM
 #15

I dont have a huge capability compared to a farm, but I am moving my 3 * 6770s + 10 * CPU cores over to LTC this week. I have 2 FPGAs that will remain mining BTC.

Also busy building a 800W wind turbine and integrating the storage and a synchronised inverter so to have $0.00kW/hr after payback. Total set up cost me <$150 from scrap parts (windmill, battery + inverter).

Hey, where did you get the scraps for the windmill? looks like a neat project.

Looking to review Bitcoin / Crypto mining Hardware.
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October 15, 2012, 03:34:18 AM
 #16

Litecoin mining seems to consume more electricity than bitcoin mining however, for me.

I'll probably switch when ASICs come out as well.  Litecoin's value is also rising too which is good.

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crazyates
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October 15, 2012, 03:41:14 AM
 #17

Litecoin mining seems to consume more electricity than bitcoin mining however, for me.
It will. BTC mining responds positively to underclocking the RAM, which saves power and heat, and sometimes even gives better performances. All of these are not true for LTC mining.

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October 15, 2012, 04:16:10 AM
 #18

Just how crazy is it going to get? Anyone starting early on the Litecoin switch over?


pretty crazy I think
a week ago network hashrate was in the 300Mh/s range, right now 798Mh/s. ppl are definitely moving over
not sure what is causing the high price - cant see it sustainable atm tho. People flooding on to mine and convert straight to BTC will put severe pressure on LTC price.
my 0.0002LTC worth Tongue

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October 15, 2012, 05:53:43 AM
 #19

Speculation. Expect a rise and then a crash and then a correction...

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October 15, 2012, 05:58:26 AM
 #20

Once ASICs are out, and mining bitcoins as an amateur is no longer an option, I will most definitely be going to litecoin

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