Newbie -- Should I mine Bitcoin or Litecoin?

[abn123]

bought my first 0.0000001 bitcoin at DEFCON in July (the briefcase "ATM" was awesome)....now looking to get into mining a bit

I realize that there is no real money to be made for a small-timer.....this is more for the fun, education, and novelty of it all....

By the end of the weekend I should have my hands on about 7 block erupters and the necessary hub/fan....giving me around 2.3GH/s

Question is, will I mine more BTC going straight at it in a pool, or is it now easier to mine Litecoin in a pool and go to an exchange for the BTC?

In the end, I would like the BTC....

thanks!

[Welsh]

Litecoin could be more profitable as the Bitcoin difficulty has risen a lot and is continuing to do so. But, what would you prefer to mine?

[abn123]

I don't care....I just like the idea of mining

but while I am doing it, I might as well get something out of it....

I realize it will take forever, but I like the idea of using gear to mine coins, that will enable me to buy more gear, to mine more coins.......

[murraypaul]

With block erupters you can only mine coins using the SHA256 algorithm (Bitcoin), not those using the Scrypt algorithm (Litecoin).
In general, the non-Bitcoin SHA256 coins aren't worth mining, so stick to Bitcoin instead.

[abn123]

With block erupters you can only mine coins using the SHA256 algorithm (Bitcoin), not those using the Scrypt algorithm (Litecoin).
In general, the non-Bitcoin SHA256 coins aren't worth mining, so stick to Bitcoin instead.

I have been reading and reading...and you confirmed what I had been suspecting (but hadn't found in an explanation)....

Is it worth is to mine Bitcoin with the erupters and Litecoin on the same box using the GPU?

thanks

[murraypaul]

There isn't really any reason not to use the GPU to mine as well, and if you are going to use it, it makes much more sense to use it to mine scrypt coins that Bitcoin, because they are more profitable.
You could either mine Litecoin, or use one of the multipools that automatically switches to the most profitable scrypt coin at any one time.

[monbux]

That depends, will you mine with equipment?  And how fast MH/s and/or KH/s will you be mining at?

[abn123]

There isn't really any reason not to use the GPU to mine as well, and if you are going to use it, it makes much more sense to use it to mine scrypt coins that Bitcoin, because they are more profitable.
You could either mine Litecoin, or use one of the multipools that automatically switches to the most profitable scrypt coin at any one time.

thanks for the tip....my reading hasn't gotten me to anything about multipools.....headed there now

[Kyle91]

BITCOIN!!!

[acs267]

I would recommend Litecoin, Bitcoin is being dominated by ASICs. You could use tablets, PCs, laptops, etc to mine Litecoin. And it's a tad bit easier to get.

[amer]

Can you mine with an ASIC on SHA256 and GPU on scrypt on the same machine? I tried this, but bfgminer didn't support it.

[jacktheking]

I think mine Bitcoin is better.

[EzCheese]

Amer -- Check out this post https://bitcointalk.org/index.php?topic=225194.0

Looks like it can be done, but you have to specify the device per instance of cgminer. 

Hope this helps,
EZ

Can you mine with an ASIC on SHA256 and GPU on scrypt on the same machine? I tried this, but bfgminer didn't support it.

[BlameByte]

Since you ordered ASICs your only choice would be bitcoin / sha256 coins.
However, if you want to buy some GPUs as well, then I think that other alt coins are more profitable as the different of litecoin has been increasing a lot just like bitcoin.

[tomdem0]

I think to that mining Bitcoins is better since it is more accepted as a currency.

[b!z]

You cannot mine Litecoins with the block erupters. They, like other Bitcoin ASICs, can only mine BTC or other SHA256 coins. LTC is scrypt so it will not work.

[newtondf]

BITCOIN!!!

[iANDROID]

See here: http://www.coinchoose.com/

Or mine here: http://middlecoin.com/