What to mine

[havoc928]

I am super late to the party, heard about bitcoins a few years ago but was younger so didn't pay much attention to it but here I am now and cannot decide what to currently mine, either Lite coin or Bit Coin. Currently have to PCs one with a GTX 285 and the other with a GTX 680, yes i know Nvidia sucks balls for mining so i am looking to pick up a 6970 specifically for mining.

[BitcoinOxygen]

I am super late to the party, heard about bitcoins a few years ago but was younger so didn't pay much attention to it but here I am now and cannot decide what to currently mine.

Better late than never.

either Lite coin or Bit Coin.

I would recommend you to mine Bitcoins as it consumes less power to mine.
And also with the rising difficulty of litecoin it is becoming unprofitable to mine.

Currently have to PCs one with a GTX 285 and the other with a GTX 680, yes i know Nvidia sucks balls for mining

Mining with Nvidia cards are not profitable because the amount of bitcoins they mine does not cover the power they consume.

so i am looking to pick up a 6970 specifically for mining.

Good luck with your venture.

[hamdi]

i would stay with mainline bitcoin.

the others may sometimes offer better gains, but also fluctuate a lot.

bitcoin in itself is very small still,
the other alt-coins are even only percents of bitcoin.

so when in the small, stay with the biggest of the small.

[Stephen Gornick]

i am looking to pick up a 6970 specifically for mining.

Ever since the block reward subsidy halving a couple weeks ago, those who are still GPU mining of Bitcoin are either mining at a loss or are paying a really cheap rate (or free) for electricity.

But even for those with cheap electricity, that characteristic is just delaying the inevitable -- the day the GPUs get powered down.

This is because as soon as any one of the five ASIC manufacturers start shipping in quantity, not even cheap electricity will help you.

So unless you were hoping for a 6970 specificallly for gaming, and would like a good excuse to buy one ("for mining"), then don't waste your time or money.

[BitcoinOxygen]

i am looking to pick up a 6970 specifically for mining.

Ever since the block reward subsidy halving a couple weeks ago, those who are still GPU mining of Bitcoin are either mining at a loss or are paying a really cheap rate (or free) for electricity.

But even for those with cheap electricity, that characteristic is just delaying the inevitable -- the day the GPUs get powered down.

This is because as soon as any one of the five ASIC manufacturers start shipping in quantity, not even cheap electricity will help you.

So unless you were hoping for a 6970 specificallly for gaming, and would like a good excuse to buy one ("for mining"), then don't waste your time or money.

Also the bitcoin price has been going up since the halving.

[greyscale]

Bitcoin is probably best, as its worth heaps more than lite coins or any of those others.

[Beta-coiner1]

i am looking to pick up a 6970 specifically for mining.

Ever since the block reward subsidy halving a couple weeks ago, those who are still GPU mining of Bitcoin are either mining at a loss or are paying a really cheap rate (or free) for electricity.

But even for those with cheap electricity, that characteristic is just delaying the inevitable -- the day the GPUs get powered down.

This is because as soon as any one of the five ASIC manufacturers start shipping in quantity, not even cheap electricity will help you.

So unless you were hoping for a 6970 specificallly for gaming, and would like a good excuse to buy one ("for mining"), then don't waste your time or money.

Also the bitcoin price has been going up since the halving.

I agree with this incite not to mention I think it may make any new Alt coin even more valuable to mine to trade for BTC like last year.

[meebs]

using CURRENT DAY exchange rates and difficulty LTC and BTC are about the same profitablity to mine.

Honestly BTC is a LOT easier to mine.. it takes less practice to get going and is overall a little more stable.

That said.. you will get a LOT more LTC than BTC in terms of each coin.. Granted at the end of teh day they will be worth the same.. it just depends if you'd rather see 0.2 BTC or 30.0 LTC going into your wallet every day as an example.

[havoc928]

I think i am just going to go with BTC so I don't have to deal with the exchange from LTC.

Time to go buy an ATI card. Guess this is where being an Nvidia fan boy doesn't pay off

[FuzzyBear]

Also if u mine BTC... u can merge mine at somewhere like bitparking and get Ixcoins, Namecoins and Devcoins as well as ur BTC.... these can also be traded on Vircurex.com for more BTC... or LTC if you want to spread ur risk... I currently invest my Devcoins in the Devcoin Bounty stocks and shares on CryptoStocks.com been frequent and regular payouts of dividends there to

Though I did hear that was supposed to be much more profitable to mine (but think that befor the block halving and everyone jumped from BTC to LTC or PPC) but it worth setting urself up to be able to mine LTC on GFX card... cgminer or Reaper miner is all u should need... and then if u suddenly want to mine LTC as it is better for a week or two, then u can without the worry of not knowing what u need to do to set it up

[owenmichaels]

i would stay with mainline bitcoin.

I completely agree.

[crazyates]

i would stay with mainline bitcoin.

I completely agree.

+1

I am super late to the party, heard about bitcoins a few years ago but was younger so didn't pay much attention to it but here I am now and cannot decide what to currently mine, either Lite coin or Bit Coin. Currently have to PCs one with a GTX 285 and the other with a GTX 680, yes i know Nvidia sucks balls for mining so i am looking to pick up a 6970 specifically for mining.

If you're looking to get involved in Bitcoins, but you're using a Nvidia card, check out VanityPool. You hunt for addresses using their VanityGen software, which actually works pretty decent on Nvidia cards. The rewards can be a little low, but not bad compared to the 140Mh/s you'd be mining anyways. Just an option for ya.

[DirtAddsHP]

If you have any gaming buddies i would ask if they would trade their radeon card for your nvidia.. thats what i did for my 6950s.