If you care to mine then do it! Even if you don't make hardly any bitcoins, or even if you lose money doing so. At least you will have gained a lot of knowledge. And no one knows what a single bitcoin will be worth in 1, 2, 5, or 10 years! There can only be a max of 21 million. So figure out the math if this really catches on!
Today I want to dive head first into mining Litecoins by purchasing a MSI R7950 Twin Frozr 3GD5/OC Radeon HD 7950 3GB 384-bit GDDR5 PCI Express 3.0 x16 HDCP Ready CrossFireX Support Video Card.
or maybe a SAPPHIRE 100352-3L Radeon HD 7950 3GB 384-bit GDDR5 PCI Express 3.0 x16 HDCP Ready CrossFireX Support Video Card.
But will it be worth it? I don't know. Maybe Litecoin's will catch on. Maybe not. Just one of those video cards above with the guiminer-scrypt miner will absolutely blow away any CPU mining for Litecoins. For bitcoins one must use those ATI Cards as CPU mining for bitcoins is truly ancient history. But if the price of bitcoins continues to rise up then even now it may pay to mine with those fast ATI cards above. Maybe only pennies a day, but so what. That may grow into a tidy sum down the road. Or not!
Even on my quad core Intel PC I can only muster 15 khash/sec (kH/s) mining Litecoins. But with a 7950 card, or even a 7850 card I suddenly will be in the Litecoin game, instead of just doing a hobby.
Yea, I gave up on mining Bitcoins simply because getting any ASIC hardware will be a very long wait, and these cash up front deals and hope for the best just don't cut it to be blunt! Too much risk there, and a very high cost. I would rather just buy bitcoins for that high a price and sit on them. But as the price rises week after week it sure does become hard to pull that purchase trigger. Hence mining.
Litecoin's have a big plus going for them too, at least in my own opinion. [They are verified much faster. And many a merchant in the future may very well demand that over taking 20 to 60 minutes to verify bitcoins! Of course maybe processing speeds will greatly increase down the road, but how long will that be??? There much easier to mine too. And there can only be a max of 84 million Litecoins. So there! Anyway that's my thoughts.
Already I finally purchased my first 2 bitcoins. It was a hard sell too. I kept waiting for a price drop but finally I bit the bullet and pulled the trigger two weeks ago at about $47 each. A week later those two coins shot up 50% in value. Today, 15 days after purchase they have almost doubled in price at $87.80 See
https://btc-e.com/ for the latest bid/ask trading prices for bitcoin and litecoin, in various currencies.
Us newbies have a lot of catching up to do. But don't give it up before even trying. At least tip your toes in the water and get them wet.
Heck, the best % return on any investment for myself this year (so far) is buying those two bitcoins.
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