Bitcoin vs Litecoin

[mrspencer]

Hey guys,

This has been puzzling me. Been mining Bitcoin for about a week now - still looking at the Bitcoin vs Litecoin debate.

Could you let me know:

Which is faster to mine?
Which earns more money?
Would litecoin take off?
If I've a Nvidia GPU - which coin should I mine?

Cheers!

[1715057263]

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[stombergas]

Look at the difficulty of Litecoin vs Bitcoin
Bitcoin has a much higher difficulty than Litecoin higher difficulty harder to mine.
Litecoin uses another Algorithm than Bitcoin (Scrypt vs SHA256)
So calculations are different  - with SHA256 the speed is measured with MH/s
on scrypt KH/s
You cannot actually compare what is faster to mine.
Rather compare the higher profitability and at the moment and  that is litecoin.
If litewcoin take off no one knows maybe maybe not.

You have a hardware comparison for litecoin and bitcoin
https://en.bitcoin.it/wiki/Mining_hardware_comparison
https://github.com/litecoin-project/litecoin/wiki/Mining-hardware-comparison

Check the speed for your GPU

Cheers

[ccs5t]

Still trying to figure out how to mine litecoins on a mac

[mrspencer]

Still trying to figure out how to mine litecoins on a mac

What GPU have you got?

[KnowBuddy]

Which is faster to mine?

From what I understand: Bitcoin targets a block rate of 10min. Litecoin targets a block rate of 2.5min.

Which earns more money?

This is a complicated question. Many recent estimates have Litecoin ahead, but both are volatile and my crystal ball is unfortunately incompatible with any of the mining software packages.

Would litecoin take off?

If you strapped a rocket to it? African or European swallow? Honestly, all anyone can tell you is past and present performance with any real certainty... anyone claiming to do better is trying to sell you something.

If I've a Nvidia GPU - which coin should I mine?

Whichever you feel are more worthwhile. Nvidia GPUs are fairly poor for either purpose compared to ATI GPUs. For Litecoin the recent cudaminer releases have helped Nvidia GPUs, but only really to bring them up to par with current CPUs for the most part.

[Noxialis]

I've been trying to get started with Litecoin, after having mined Bitcoin for a while, and to say that it's frustrating would be putting it mildly.
Been wanting to join WeMineLTC.com, but the information on how to actually get things up and running properly seems incredibly scarce.

I'm on a GTX670 and i7 3820, so I realise I won't be seeing exceptional results, but I figure I may as well do something, since it mostly idles at night anyway. That is, if I don't give up before actually getting it to work, heh.

[hobbes]

http://dustcoin.com/

Bitcoin is the only true coin!

[Mogumodz]

It's not perfect but I use this sometimes

http://dustcoin.com/mining

I'm more on board with Bitcoin in general, I run the client to help the network in my eyes, my Bitcoin client has 53 connections atm and I seem to push a lot a lot of upload traffic at 13mbps for long periods of the day, some others are reporting increased traffic due to the increase in transactions atm, makes sense.

Running a p2pool node also can make daily traffic be nuts atm, so did wonder recently when I saw someone put a p2pool node in E2.
Won't be there long I can assure you, heh. Some logs from my Bitcoin pc and p2pool below.





Litecoin mining atm is more profitable it seems, but don't let the prices of anything really influence you if you can, but I guess the recent bump in exchange rate on Bitcoin made it a little more profitable for me anyway.

[junbin]

Is there even a market for litecoins?  Or is it purely academic for now?

[natewhatever]

I'd like to know where people think all the alternative currencies stack up and which ones are the most promising. I'd love to diversify my digital portfolio

[Mogumodz]

You can try and trade 50 LTC or so for 1 BTC on some exchanges, 500khash/s for a day nets you around 2 coins, 25 days, 1 BTC (in theory)

same 500MH/s only gets 0.03 BTC a day, about to go down again on the next difficulty no doubt.

[cancrena]

i personally mine with an i7 laptop with nvidia gpu and decided to go for scrypt (LTC)
litecoins are starting to have some uses and support, and i personally think they're the best alternative right now (and i think that alternatives MUST start with different algorithms, this is why i really look forward to MC2/whatever-they'll-call-them)

[junbin]

You can try and trade 50 LTC or so for 1 BTC on some exchanges, 500khash/s for a day nets you around 2 coins, 25 days, 1 BTC (in theory)

same 500MH/s only gets 0.03 BTC a day, about to go down again on the next difficulty no doubt.

Thanks for the heads up!

[nst6563]

If you're mining LTC with an nvidia gpu you really need to use the newest cudaminer as it really seems to have given the nvidia gpus (fermi at least) a swift kick in the pants.
With cgminer I was getting 54kh/s tops.  With the 4-10-2013 release of cudaminer I get 107kh/s.  I'm using gtx560se's, so your gtx670 should get a good bit more.

[Spendulus]

I have gtx670, so what would i expect? 200K/second?  Say that ran continuous for a month, any idea what it would produce?

[Aahzman]

hmmm. so cudaminer on a quadro 4000 could do well for LTC? finally, a use for my Z1 workstation.

[Splicer]

Still trying to figure out how to mine litecoins on a mac

Very carefully