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Question: Why do people mine LTC with giant GPU farms?  (Voting closed: December 11, 2012, 08:12:43 PM)
To profit - 20 (46.5%)
To lose money - 4 (9.3%)
To not profit and not lose money - 0 (0%)
Health reasons - 6 (14%)
LULz - 13 (30.2%)
Total Voters: 43

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Author Topic: [POLL] Why do people mine LTC with giant GPU farms?  (Read 1299 times)
smoothie (OP)
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December 09, 2012, 08:12:43 PM
 #1

Why do people mine LTC with giant GPU farms?

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December 09, 2012, 08:49:13 PM
 #2

I voted For Health Reasons  Grin

mental health that is.
paraipan
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December 09, 2012, 08:50:27 PM
 #3

LULz   Smiley

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December 10, 2012, 06:31:19 AM
 #4

LULz   Smiley
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December 10, 2012, 06:39:30 AM
 #5

To get lots of LTC  Roll Eyes

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December 10, 2012, 09:27:47 PM
 #6

My doctor prescribed 45-50LTC a day..
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December 10, 2012, 09:33:17 PM
 #7

Wishful thinking and lack of experience with the demand/supply law of exchange markets.

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December 10, 2012, 09:37:14 PM
 #8

LTC mining was 86% more profitable than BTC mining as recently as yesterday. Just as some people may be BTC mining at a loss this very second some LTC miners may be mining at a loss expecting LTC prices to rise again.

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December 10, 2012, 10:51:47 PM
Last edit: December 10, 2012, 11:40:12 PM by gyverlb
 #9

LTC mining was 86% more profitable than BTC mining as recently as yesterday.
?! How did you compute that? My computations show that LTC was ~97% as profitable as BTC and is now ~94% for 5870/5970 GPUs. They use a 1/1000 ratio for the hash speed between LTC and BTC. Maybe some progress has been made with scrypt on OpenCL, did it go above 400kH/s on 5870s ? I'm not involving exchange fees and additional power requirements from the GPU RAM not being massively underclocked so my computations are biased towards LTC.

Edit: did the LTC difficulty change recently too? That could explain it (I don't track it and just update values in a Calc sheet when I feel like it).

Even when it did briefly go above 100% in the past, I didn't bother reconfiguring rigs as simply tuning them for the right setting would require hours of work.
Just as some people may be BTC mining at a loss this very second some LTC miners may be mining at a loss expecting LTC prices to rise again.
What isn't clear about buying things at its face value when it's expected to go up instead of buying it at a loss that so many people mine at a loss?

P2pool tuning guide
Trade BTC for €/$ at bitcoin.de (referral), it's cheaper and faster (acts as escrow and lets the buyers do bank transfers).
Tip: 17bdPfKXXvr7zETKRkPG14dEjfgBt5k2dd
creativex
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December 10, 2012, 11:00:42 PM
 #10

I didn't compute it...because I'm lazy by default. Tongue

I went to coinotron and looked instead, but yes difficulty was 44.xxx a few days ago, fell to 26.xxx, and then climbed back up to the current 42.2770. As a result of these fluctuations I switched my 1.7ish Mh of BTC mining hardware to LTC mining for about a day and a half then switched back to BTC mining. Judging by network hashrates during that time it seems many did precisely the same thing.

I mine with a hodgepodge of cards 1x6950@6970, 2x6770, 1x5830, 1x6870, & 1x6850. 

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December 11, 2012, 03:27:57 AM
 #11

almost put health reasons../

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