18stops (OP)
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April 08, 2013, 01:44:35 AM |
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is it possible to use jalapeno's to mine litecoin or is that only for BTC?
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Bitcoin mining is now a specialized and very risky industry, just like gold mining. Amateur miners are unlikely to make much money, and may even lose money. Bitcoin is much more than just mining, though!
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Oshero
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April 08, 2013, 01:47:17 AM |
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The Scrypt Algorithm is inherently different from the SHA-256 algorithm.
Bitcoin is based on the SHA-256 algorithm.
Litecoin uses scrypt.
As ASIC's are specialized for one purpose. (In the jalapeno's case, SHA-256, it won't be able to mine Litecoin effectively.)
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shibaji
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April 08, 2013, 01:47:50 AM |
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is it possible to use jalapeno's to mine litecoin or is that only for BTC?
Only BTC. I is an application specific integrated circuit, and the algorithm for BTC (SHA256) is hardcoded. LTC uses a different cryptography algorithm (scrypt) |
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jml
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April 08, 2013, 01:47:58 AM |
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Litecoin is only meant for GPU or CPU mining as there are memory requirements to mine a block. At the moment, litecoin is FPGA and ASIC resistant.
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"Everything is a matter of degree"
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18stops (OP)
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April 08, 2013, 01:53:14 AM |
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I was curious but I figured as much, thanks for the prompt replies.
This hobbyist has two jalapeno's on order so I'll join up with the slush pool and wait and see
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sagiko
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April 08, 2013, 02:02:17 AM |
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Before you commit to BFL ASIC, better check all the posts in the forum on the BFL ASIC status. I should have gone with Avalon if I read all these before I placed my order.
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baad
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April 08, 2013, 10:12:18 AM |
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It is only for BTC, LTC uses different algo.
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BitSmile
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April 08, 2013, 10:53:41 AM |
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Man, even if it could mine ltc, BFL is just a shame of a company.
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btchustler
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April 08, 2013, 11:59:56 AM |
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Man, even if it could mine ltc, BFL is just a shame of a company.
true |
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Keimoasd
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April 08, 2013, 12:00:12 PM |
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Man, even if it could mine ltc, BFL is just a shame of a company.
I agree. |
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