[LTC] Seems GPU mining is getting difficult

[Singlebyte]

I invested a lot in mining equipments, now i dont have money to buy. I should mine something.

You should then sell all your equipment and reinvest the money!  (Or just keep on doing what your doing and see how far it gets you!)

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[logicalogic]

You guys should factor your cities utility tax anda ll the surcharges. The rate in california for me is 0.0873 kw/h but after all fees and tax, its actually 0.175 kw/h.

About 30-60% of mining revenue is going to your power bill whereever you are.

[hendo420]

You guys should factor your cities utility tax anda ll the surcharges. The rate in california for me is 0.0873 kw/h but after all fees and tax, its actually 0.175 kw/h.

About 30-60% of mining revenue is going to your power bill whereever you are.

mine is $0.08 kw/h after all fees ect. Its 0.045 per kw/h for the usage and 0.035 per kw/h for delivery charge/tax/fees.

[FiiNALiZE]

You guys should factor your cities utility tax anda ll the surcharges. The rate in california for me is 0.0873 kw/h but after all fees and tax, its actually 0.175 kw/h.

About 30-60% of mining revenue is going to your power bill whereever you are.

mine is $0.08 kw/h after all fees ect. Its 0.045 per kw/h for the usage and 0.035 per kw/h for delivery charge/tax/fees.

I'm so jelly. Mine is $0.1825 kw/h

[balanghai]

I guess there is a future for PCI-E multicore or parallel computing in this case. Where viability is 70GFLOPS=1Watt power. I think soon it will hit the scrypt coins. 

[smoothie]

This is what I like to call "The miner squeeze".

Bitcoin had this during 2011. Survival of the fittest.

I suspect you will see Litecoin take the bitcoin patter in this respect. Long drawn out consolidations and then spikes in price. Seems to be the norm in the crypto world.

[RChevalier]

Anyone else mine for the fun of it?  I'm kind of addicted to setting up hardware/software...

[CoinBuzz]

This is what I like to call "The miner squeeze".

Bitcoin had this during 2011. Survival of the fittest.

I suspect you will see Litecoin take the bitcoin patter in this respect. Long drawn out consolidations and then spikes in price. Seems to be the norm in the crypto world.

So, what's the right move?

[JoeMattie]

I posted this in the mining subforum earlier...

You guys complaining about GPU mining not being profitable apparently don't live in Alaska

Up here, GPU mining is a godsend. I'll explain why:

1 gallon of #1 heating fuel weighs ~3.100kg and where I live costs roughly $5.85.
The higher heating value of #1 HHF is around 4.64x10^7 J/kg.

So, that gallon of #1 HHF can ideally yield 143840000 Joules of energy, equivalent to 39.96 kWh.

Power here costs $0.195 / kWh. So that $5.85 gallon of fuel has the same amount of heat as you could produce with about $7.79 of electricity.

You can see where I'm going with this.

Say I have a 1600W mining rig that pulls ~ 3.6Mh/s mining LTC: this rig draws about $7.80 worth of power per 24 hours, producing about the same amount of heat in the process as a gallon of fuel.  This puts my adjusted power cost for the rig at $1.95 per 24h.

So, given a conservative LTC price of $1.95/ea, this 3.6Mh rig only needs to be able to produce slightly over 1 LTC per day to be profitable.

That should be about the time the difficulty hits ~4000.

And I sincerely doubt that most other LTC miners will keep mining at that point unless the price of an LTC goes up.

In a given winter (6 months) a single family home up here will use 600 gallons of heating fuel, or $3500. This can be almost entirely replaced by around 5.5kW of GPUs (12.5 Mh or so).  In 6 months at a median difficulty of 2000 that will cost me around $4600 and net me 1100LTC.  Even at $2/LTC, that's almost $1000 savings over heating fuel.

[balanghai]

I posted this in the mining subforum earlier...

You guys complaining about GPU mining not being profitable apparently don't live in Alaska

Up here, GPU mining is a godsend. I'll explain why:

1 gallon of #1 heating fuel weighs ~3.100kg and where I live costs roughly $5.85.
The higher heating value of #1 HHF is around 4.64x10^7 J/kg.

So, that gallon of #1 HHF can ideally yield 143840000 Joules of energy, equivalent to 39.96 kWh.

Power here costs $0.195 / kWh. So that $5.85 gallon of fuel has the same amount of heat as you could produce with about $7.79 of electricity.

You can see where I'm going with this.

Say I have a 1600W mining rig that pulls ~ 3.6Mh/s mining LTC: this rig draws about $7.80 worth of power per 24 hours, producing about the same amount of heat in the process as a gallon of fuel.  This puts my adjusted power cost for the rig at $1.95 per 24h.

So, given a conservative LTC price of $1.95/ea, this 3.6Mh rig only needs to be able to produce slightly over 1 LTC per day to be profitable.

That should be about the time the difficulty hits ~4000.

And I sincerely doubt that most other LTC miners will keep mining at that point unless the price of an LTC goes up.

In a given winter (6 months) a single family home up here will use 600 gallons of heating fuel, or $3500. This can be almost entirely replaced by around 5.5kW of GPUs (12.5 Mh or so).  In 6 months at a median difficulty of 2000 that will cost me around $4600 and net me 1100LTC.  Even at $2/LTC, that's almost $1000 savings over heating fuel.

You in baltic region or in north america? Wow your electricity is cheap there!

[STT]

LTC got alot more difficult.   On a 7950 I can get 620kh and I expect some expert could get nearer to 700. 
Problem is you are always going to get squeezed by those who will operate a machine anyway or the Alaska type scenario.   some are on solar power I guess, always something.   My machine is on graphing stock quotes most days in any case

Thats a natural market, it tends towards competition and squeezing out the best efficiency

But this is all up to the speculators who play the market.

Speculators do not determine a market, they are most active in transition but its buyer and sellers who determine the start and end

[Lauda]

Well that's why you have other alts. Go mine them if it starts being unprofitable for you.

[HellDiverUK]

apparently don't live in Alaska

Up here,

You in baltic region or in north america?