pixel (OP)
Member
Offline
Activity: 98
Merit: 10
x1 7970 | Aprox. 587 kh/s
|
|
March 25, 2013, 11:24:18 PM |
|
Is mining Litecoin or Bitcoin still profitable?
|
Currently Mining: Litecoin, Xencoin, and Worldcoin (Just because its fun!, don't yell at me ;_;)
|
|
|
MiningBuddy
Moderator
Hero Member
Offline
Activity: 927
Merit: 1000
฿itcoin ฿itcoin ฿itcoin
|
|
March 25, 2013, 11:26:35 PM |
|
Depends if your making more then it costs to produce said bitcoins. Factors could include hardware cost, electricity cost, maintenance etc
|
|
|
|
Kaega
|
|
March 25, 2013, 11:28:27 PM |
|
Even with the increased difficulty, my dual 7970 rig should bring in 2.5 coins/month or $187.
Now as ASICs flood into the hands of miners, GUI mining will probably shift to Litecoins where the returns are about the same. You can trade LTC for BTC on btc-e.com.
|
|
|
|
carborundum
Newbie
Offline
Activity: 57
Merit: 0
|
|
March 25, 2013, 11:28:37 PM |
|
Is mining Litecoin or Bitcoin still profitable?
Bitcoin mining is getting near its end for small players. Cost of electricity > Bitcoin value mined. Even if ASICs turn out to be a fraud its still not really worth the effort IMHO. LItecoin... who knows??
|
|
|
|
ionux
|
|
March 25, 2013, 11:29:04 PM |
|
Yes, definitely. Exactly how profitable depends on a number of factord: power cost, hardware cost, mining difficulty, hash rate, market prices and whether you are part of a pool or solo mining.
|
|
|
|
pixel (OP)
Member
Offline
Activity: 98
Merit: 10
x1 7970 | Aprox. 587 kh/s
|
|
March 25, 2013, 11:33:14 PM |
|
I dont pay for electricity, still in High School.
|
Currently Mining: Litecoin, Xencoin, and Worldcoin (Just because its fun!, don't yell at me ;_;)
|
|
|
wevie
Newbie
Offline
Activity: 7
Merit: 0
|
|
March 25, 2013, 11:42:05 PM |
|
I dont pay for electricity, still in High School.
This blows my mind. If you run a 1000w mining rig for 24/7 for a month I bet your parents electric bill goes up at least $50 As a parent, if my electric bill goes up $50 all of a sudden, feces will hit the ventilator.
|
|
|
|
bitcoiner1
Newbie
Offline
Activity: 6
Merit: 0
|
|
March 25, 2013, 11:48:11 PM |
|
This blows my mind.
If you run a 1000w mining rig for 24/7 for a month I bet your parents electric bill goes up at least $50
As a parent, if my electric bill goes up $50 all of a sudden, feces will hit the ventilator.
Thought the same Maybe instead of generating money, which burns your parents money, you could just ask them to give you more pocket money.
|
|
|
|
christop
Member
Offline
Activity: 84
Merit: 10
|
|
March 25, 2013, 11:53:39 PM |
|
Sometimes electricity to run a mining rig actually can be free, particularly in colder environments where you would normally have to run a heater.
|
Tips are always welcome: 17Z63hLi2ox4fCMhDqVJrLTJiXVcBMJpMo Alpaca socks donations: 1sockzDWcF8mrC59CgiN7HAJm6xL7TiRW
|
|
|
wevie
Newbie
Offline
Activity: 7
Merit: 0
|
|
March 25, 2013, 11:56:35 PM |
|
Sometimes electricity to run a mining rig actually can be free, particularly in colder environments where you would normally have to run a heater.
However, OP did not state that power is included in HIS rent or that he owns a wind farm, simply that he is still in high school. This implies that he lives at home and HE doesn't pay for power someone else (a parent?) does. OP implies that power consumption is not important to him because he will steal the power from his parents. (This my understanding of I dont pay for electricity, still in High School. and may actually be an incorrect assumption)
|
|
|
|
jaeyjay
Newbie
Offline
Activity: 13
Merit: 0
|
|
March 25, 2013, 11:58:13 PM |
|
I've been mining litecoins for a while and they are still quite profitable, especially with the rising prices.
|
|
|
|
pixel (OP)
Member
Offline
Activity: 98
Merit: 10
x1 7970 | Aprox. 587 kh/s
|
|
March 26, 2013, 12:35:03 AM |
|
I dont pay for electricity, still in High School.
This blows my mind. If you run a 1000w mining rig for 24/7 for a month I bet your parents electric bill goes up at least $50 As a parent, if my electric bill goes up $50 all of a sudden, feces will hit the ventilator. Try like 450-500w
|
Currently Mining: Litecoin, Xencoin, and Worldcoin (Just because its fun!, don't yell at me ;_;)
|
|
|
Edvin512
|
|
March 27, 2013, 04:24:46 PM |
|
could get 2-3 7970's for 450watt
|
I am like a lennisters
|
|
|
kefky
Newbie
Offline
Activity: 50
Merit: 0
|
|
March 27, 2013, 04:37:14 PM |
|
Is mining Litecoin or Bitcoin still profitable?
I just orderd few avalon miners so I hope so
|
|
|
|
Gator-hex
|
|
March 27, 2013, 05:05:25 PM Last edit: March 27, 2013, 08:56:10 PM by Gator-hex |
|
Bitcoin is profitable but eventually, when the ASICs are in miners hands, it won't be and you'll need to switch to LiteCoin with graphics cards.
Litecoin has been designed to make it hard for anyone to create a dedicated FPGA/ASIC hardware miner.
|
|
|
|
christop
Member
Offline
Activity: 84
Merit: 10
|
|
March 27, 2013, 08:53:01 PM |
|
Bitcoin mining will always be profitable for some miners. If it becomes unprofitable enough for a miner, they can drop out of the game, making it more profitable for the remaining miners.
|
Tips are always welcome: 17Z63hLi2ox4fCMhDqVJrLTJiXVcBMJpMo Alpaca socks donations: 1sockzDWcF8mrC59CgiN7HAJm6xL7TiRW
|
|
|
dazzle
Newbie
Offline
Activity: 49
Merit: 0
|
|
April 19, 2013, 11:51:26 PM |
|
Bitcoin mining will always be profitable for some miners. If it becomes unprofitable enough for a miner, they can drop out of the game, making it more profitable for the remaining miners.
Post of God. Bow.
|
|
|
|
Noone1
Newbie
Offline
Activity: 8
Merit: 0
|
|
May 05, 2013, 06:20:03 AM |
|
GPU Mining: No ASIC Mining: Yes
|
|
|
|
snowshadow
Newbie
Offline
Activity: 5
Merit: 0
|
|
May 05, 2013, 06:33:38 AM |
|
Ive stopped mining bitcoins, its either LTC or CHN/CNC now
|
|
|
|
DragonDNS
Newbie
Offline
Activity: 7
Merit: 0
|
|
May 05, 2013, 06:42:26 AM |
|
Yeah, dustcoin has recently added some new alt currencies to their list and nearly every other alt coin is more profitable than BTC.
|
|
|
|
|