Anyone still GPU mining?

[capitoljay]

It makes sense to switch to Litecoins when GPU mining and sell LTC for BTC

Or PowerCoin - it's still relatively new and mining should be easy; if the value goes up, you can exchange it for Bitcoins.

Looks interesting.  Higher ultimate coin count and new enough to be ASIC resistant.  If it catches on, it could be really good, but it's got some tough competition in litecoin.

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[atariguy]

mine LTC and dont convert to fiat...convert to BTC.

The exchange rate between LTC and BTC is such that it doesn't really matter which one you mine for...

[atariguy]

Looks interesting.  Higher ultimate coin count and new enough to be ASIC resistant.  If it catches on, it could be really good, but it's got some tough competition in litecoin.

It's not the age that matters, it's the algorithm. ASICs can't do scrypt.

[gh2k]

mine LTC and dont convert to fiat...convert to BTC.

The exchange rate between LTC and BTC is such that it doesn't really matter which one you mine for...

This is what I've found at the moment. I've got 3 7970s running right now, and I find that if I switch to Litecoin I've made about the same as I would have in BTC in the same time period if I sell it.

I have a BFL pre-order from March this year, so if/when that arrives, I'll probably switch my GPUs to Litecoin to keep things a bit more diverse.

[iceTwy]

It's not the age that matters, it's the algorithm. ASICs can't do scrypt.

Does that mean that, in the end, ASICs should be let dominating the Bitcoin mining world whilst 'regular', PC-based miners should mine alternative currencies such as LiteCoin (which from what I've heard, is optimized for GPU).

If that is so, I might just as well start mining LiteCoins!

[2jase]

I've mined LTC and BTC and the results work out almost exactly the same when converted to fiat or each other.  I'm mining BTC now mainly because it's easier than converting. Once ASICs come on-line in big numbers and BTC difficulty spikes I'll switch to either LTC or another alt coin.  My 7950 rigs are energy efficient enough that they're still making a small profit, though once it gets hot on the east coast I'll have to shut them down since my A/C is pretty lousy unless an alt coin is making a significant amount of money.

[gh2k]

LiteCoin (which from what I've heard, is optimized for GPU).

LiteCoin was actually designed to be hard to mine on the GPU, due to the memory requirements of the algorithm. Of course, people are smart and managed to figure this out. Eventually, somebody /might/ be able to come up with dedicated hardware to mine LTC, but it's likely to be much more expensive and difficult to produce than the BTC ASIC hardware, and the value of LTC is nothing like high enough to make that a profitable thing to be trying to do at this stage.

[iceTwy]

LiteCoin (which from what I've heard, is optimized for GPU).

LiteCoin was actually designed to be hard to mine on the GPU, due to the memory requirements of the algorithm. Of course, people are smart and managed to figure this out. Eventually, somebody /might/ be able to come up with dedicated hardware to mine LTC, but it's likely to be much more expensive and difficult to produce than the BTC ASIC hardware, and the value of LTC is nothing like high enough to make that a profitable thing to be trying to do at this stage.

Aye, thanks for the explanation. I'll stick to BTC for a while then, but I do have to admit I'm a bit jealous when I see all those ASIC war machines that I can't really afford

[bitbeast]

Look there:

http://dustcoin.com/mining