BTC vs LTC Mining

[jayeeyee]

As we all know, mining BTC with GPUs are phasing out day by day as difficulty continues to climb and ASICs lurking around the corner.  Many are already transitioning to mining LTC.  To put it bluntly, what I don't understand is why?

As of current, mining BTC with GPUs is still more profitable than LTC.  For example, under a calculation of 1000mh/s or kh/s with an electric rate of 0.15kWh @ 500 watts, I would earn $3.35 per day (after electric cost) with BTC.  If I were to mine LTC, I'll earn $2.63 (after electric cost) at today's rate.  If this is the case, why are there so many GPU farms migrating to LTC?  Sure, the difficulty is much lower than BTC but at the current exchange rate of LTC to BTC, BTC still yields higher profitability.  Not to mention, scrypt mining is much more memory intensive which requires more power draw while BTC is kinder to power consumption.

If the reason is to hoard as much LTC as possible and hope one day it'll skyrocket, why not just continue to mine BTC and exchange them for LTC?  I'm truly lost here.. but I have to admit myself.. I'm also mining LTC but I cannot explain why I chose this route either.

[-ck]

LOL. I was going to report this as yet another altcoin mining discussion to be moved out of here, but I had a good laugh at your own realisation. Thanks for the amusement 

[grue]

because people are irrational. but shush, we need irrational people so rational people can make more profit

[Eastwind]

I mine both BTC (40%) and LTC (60%). I think LTC value would rise faster than BTC in the future due to its faster confirmation. I could mine BTC now and change it to LTC, but I do not want to involve exchange at the moment.

[jhk753]

Yes. I agree with Eastwind.
I'm mining LTC because I'm speculating on LTC value. At the moment if I were completely rational I should mine BTC and exchange it for LTC.

BUT to do that you need to exchange, you have fees to exchange and fees to withdraw if you don't want to leave your money to the exchange platform.

And also you get a delay from exchanging. Today it's more profitable to mine BTC but maybe in 3 days it will be back to LTC.

So i guess if you believe in LTC and don't want to worry too much about exchanging, you shall keep mining ltc

[grue]

Yes. I agree with Eastwind.
I'm mining LTC because I'm speculating on LTC value. At the moment if I were completely rational I should mine BTC and exchange it for LTC.

BUT to do that you need to exchange, you have fees to exchange and fees to withdraw if you don't want to leave your money to the exchange platform.

And also you get a delay from exchanging. Today it's more profitable to mine BTC but maybe in 3 days it will be back to LTC.

So i guess if you believe in LTC and don't want to worry too much about exchanging, you shall keep mining ltc

But LTC has been consistently less profitable than BTC. Right now it's sitting at 88% profitability. Unless you pay an insane exchange fee of 10%, it will be more profitable for you to mine BTC and exchange for LTC. You will simply get more LTC per hour mined.

[Eastwind]

I do not like to effort  involved in the exchange. I also do not want to reveal my identity to Exchange.

[Eastwind]

I mine both BTC (40%) and LTC (60%)

So what you're saying is that you have a multiple personality disorder    Sorry, I could not help myself.

There is no reason to mine anything other than BTC.  You can speculate on price fluctuations of alt coins without mining them.

This of course might change as BTC difficulty goes through the roof and the only thing left for GPUs to do will be mine non sha coins.
Scrypt is not the last algo for them, there will be more I'm sure.

I thought that is called spreading the risk, do not put all the eggs in one basket.  I "believe" LTC have bright future, but not so sure.

[jhk753]

Ok but in a few hours BTC difficulty will raise from 30% because of Asics deliveries.

And LTC just went down a bit. So LTC will definitely be the currency to mine from now on

[Mugiwara]

I don't take the risk of prices. So I sell most of my mined coins immediately. Which coin I am mining is purely depend on the current value. Currently I'm with BTC.

[Fabrizio89]

You have a point. 

[Eastwind]

LTC mining is more profitable at the moment.

[Schrankwand]

Yes. I agree with Eastwind.
I'm mining LTC because I'm speculating on LTC value. At the moment if I were completely rational I should mine BTC and exchange it for LTC.

BUT to do that you need to exchange, you have fees to exchange and fees to withdraw if you don't want to leave your money to the exchange platform.

And also you get a delay from exchanging. Today it's more profitable to mine BTC but maybe in 3 days it will be back to LTC.

So i guess if you believe in LTC and don't want to worry too much about exchanging, you shall keep mining ltc

But LTC has been consistently less profitable than BTC. Right now it's sitting at 88% profitability. Unless you pay an insane exchange fee of 10%, it will be more profitable for you to mine BTC and exchange for LTC. You will simply get more LTC per hour mined.

Not really.

In fact, it has been really profitable during march and April, lost a lot of profitability when LTC crashed from 0.03 to 0.022 or from $4 to §2.8 as we have seen.

Right now, LTC is 20% more profitable than BTC.

Since difficulty changes happen, you will see that whether or not mining a coin is profitable is a short to medium term decision. After all the question is whether or not you are actually mining the coin because it is a good coin or speculating.

Apart from BTC and LTC, I have not found a coin yet that is worthy of anything more than speculation. Freicoin is a great idea, but people won't like the idea, even if it does work towards social psychology well.

[Eastwind]

Not really.

In fact, it has been really profitable during march and April, lost a lot of profitability when LTC crashed from 0.03 to 0.022 or from $4 to §2.8 as we have seen.

Right now, LTC is 20% more profitable than BTC.

Since difficulty changes happen, you will see that whether or not mining a coin is profitable is a short to medium term decision. After all the question is whether or not you are actually mining the coin because it is a good coin or speculating.

Apart from BTC and LTC, I have not found a coin yet that is worthy of anything more than speculation. Freicoin is a great idea, but people won't like the idea, even if it does work towards social psychology well.

+1