Am I doing something wrong? (Low income?!)

[Bartt]

Hey,

I just came into Litecoin mining, and I folowed this tutorial for cuda miner: http://www.youtube.com/watch?v=MPoRc6FSA68
It let me register to this pool: http://mine-litecoin.com/
I registered there and made a new worker etc.

I then downloaded cuda miner: https://bitcointalk.org/index.php?topic=167229.0

I own a GTX 670, slightly overclocked.
I am getting about 160 - 170 khash/s, according to cuda miner:
https://i.imgur.com/JAfwZh0.png

I am using the following setup when running cuda miner:

Code:

cudaminer.exe -o stratum+tcp://europe.mine-litecoin.com:80 -O Bartt.x1:x

Problem:
I heard people talk about getting 0,1 BTC per day, and over 1 LTC a day (which sounds logical to me)
Though I earn about 0,005 max LTC per hour, so 0,1 LTC per day...

How is this profitable or am I doing something wrong in my setup? Am I in the wrong pool or something?
Or is my mining rate very low? Please help!

Bart

[Bartt]

Does anyone know? I would really like to know if this slow LTC gain is normal or if I am doing something wrong

[vm1990]

for the hardware your running it seems about right.
AMD is the miners choice because it is much much better at mining
Nvidia can be ok but wont even compete with AMD

https://litecoin.info/Mining_hardware_comparison#NVIDIA

shows what testers get and a good overclock only gets 200
so your about right

[Bartt]

for the hardware your running it seems about right.
AMD is the miners choice because it is much much better at mining
Nvidia can be ok but wont even compete with AMD

So you are saying it is normal to earn 0,1 LTC aka less than 1 dollar per 24 hours?
Just asking to be sure
I had a bit higher expectations, like 0,5 LTC every ten hours.

Even the pool's fee of 0,02 LTC is way higher than what I earned today in 6+ hours.

[turkeydinner]

btc mining with a gpu is no longer profitable at all

[Damnsammit]

Well you are mining at a very low hashrate, and since you are using NVIDIA you are getting bad hash/power ratio.

Ideally you would want to get a ATI/AMD Radeon card or two.  Even a 5830 will give you a better hashrate and will also use less power than your GTX 670.

If you care about electricity costs, then I recommend a 5830 or 5850 to start off with, but if you don't care about electricity costs, then swing for the fences and get a 7950 or 7970 and you will be making coin a lot faster.

[Bartt]

Well you are mining at a very low hashrate, and since you are using NVIDIA you are getting bad hash/power ratio.

Ideally you would want to get a ATI/AMD Radeon card or two.  Even a 5830 will give you a better hashrate and will also use less power than your GTX 670.

If you care about electricity costs, then I recommend a 5830 or 5850 to start off with, but if you don't care about electricity costs, then swing for the fences and get a 7950 or 7970 and you will be making coin a lot faster.

Hmm, could you tell me how much I COULD mine with, say, an AMD 7970? Like twice as much, or even 3 times?
Also, how about the R9 290? I don't know much about the AMD cards, but are these R9 cards even better for mining? (couldn't find anything on google)

Thanks for the replies guys!

[vm1990]

the R9 290s are more powerful and better miners but will never justifu the cost of buying one
if you want a good all rounder id probably recommend a 6870 (285kh/s) there pretty good on power and almost as powerful as the 5870 (350kh/s) but use about 1/2 the power

a while ago you would have been earning more but due to all GPUs now ending up on scrypt coins like litecoin and novacoin and fethercoin they have all shot down in what you earn. this is because almost ever GPU that was on the bitcoin network has been moved onto scrypt networks due to ASICs becoming the main driving force on Bitcoin and sha256 coins

[Bartt]

the R9 290s are more powerful and better miners but will never justifu the cost of buying one
if you want a good all rounder id probably recommend a 6870 (285kh/s) there pretty good on power and almost as powerful as the 5870 (350kh/s) but use about 1/2 the power

a while ago you would have been earning more but due to all GPUs now ending up on scrypt coins like litecoin and novacoin and fethercoin they have all shot down in what you earn. this is because almost ever GPU that was on the bitcoin network has been moved onto scrypt networks due to ASICs becoming the main driving force on Bitcoin and sha256 coins

Ah, and how would an R9 290 roughly do?
I am just looking around, I game too, and I earn enough to buy one soon.

I also like to make my own miner, make an element grabber so it displays what my current balance is, etc.
Basically it is mostly meant as a hobby, but if it's only gonna earn me a dollar per day I might stop doing it.

[Damnsammit]

Here is a good site for more info on your mining hardware:

https://litecoin.info/Mining_hardware_comparison

A 7970 would probably do 10-15x as much as what you are doing right now.

[Bartt]

Here is a good site for more info on your mining hardware:

https://litecoin.info/Mining_hardware_comparison

A 7970 would probably do 10-15x as much as what you are doing right now.

Ah thanks

But it says GTX 670: 160 - 200 kH/s and 7970 around 700 kH/s
How is the 7970 10 - 15x faster?

[pontiacg5]

Don't buy a 7970, buy a sapphire 280x. Don't buy a gigabyte 280x, buy a sapphire 280x.
I've tried them in several systems now, they pull 740-750kh/s at less than factory clock speeds.

You have heard of mining profitability calculators, right? Just google litecoin mining calculator.

[Damnsammit]

Here is a good site for more info on your mining hardware:

https://litecoin.info/Mining_hardware_comparison

A 7970 would probably do 10-15x as much as what you are doing right now.

Ah thanks

But it says GTX 670: 160 - 200 kH/s and 7970 around 700 kH/s
How is the 7970 10 - 15x faster?

Sorry, was looking at the wrong column.  Thought 1500 kH/s seemed a bit too high! 

I only use 5850s for my rig, and occasionally will mine with a 6950 as well.

[Bartt]

Don't buy a 7970, buy a sapphire 280x. Don't buy a gigabyte 280x, buy a sapphire 280x.
I've tried them in several systems now, they pull 740-750kh/s at less than factory clock speeds.

You have heard of mining profitability calculators, right? Just google litecoin mining calculator.

Thanks for the tips.
Why a sapphire? For the power/energy consumption?
I like gigabyte because of the multiple fans which makes their cards cooler and less noisy.
I am not only planning on mining 24/7 so noise is important for me too
I believe sapphire cards are powerful but loud?

Sorry, was looking at the wrong column.  Thought 1500 kH/s seemed a bit too high! 

I only use 5850s for my rig, and occasionally will mine with a 6950 as well.

Haha okay.
So it indeed is all about kH/s

[komar]

Hmm, could you tell me how much I COULD mine with, say, an AMD 7970? Like twice as much, or even 3 times?

Maybe my chart will help:

See more at http://divananalit.org/

[Bartt]

Nice! Thanks for posting

[pontiacg5]

Don't buy a 7970, buy a sapphire 280x. Don't buy a gigabyte 280x, buy a sapphire 280x.
I've tried them in several systems now, they pull 740-750kh/s at less than factory clock speeds.

You have heard of mining profitability calculators, right? Just google litecoin mining calculator.

Thanks for the tips.
Why a sapphire? For the power/energy consumption?
I like gigabyte because of the multiple fans which makes their cards cooler and less noisy.
I am not only planning on mining 24/7 so noise is important for me too
I believe sapphire cards are powerful but loud?

Sorry, was looking at the wrong column.  Thought 1500 kH/s seemed a bit too high! 

I only use 5850s for my rig, and occasionally will mine with a 6950 as well.

Haha okay.
So it indeed is all about kH/s

A gigabyte card has a hard time breaking 700kh/s, and if it does tops out around 725. I have 6, and of those only two will steadily run over 700kh/s.

Don't be fooled, your 3 fans will probably be running 100% anyway, especially if it's in a case. 

[Bartt]

Uh, I got another problem..

So this is the third day of me mining for the mine-litecoin.com pool , and this is the second time that my whole balance got cleaned back to 0,000 LTC...  

The first time I had like 0,006 LTC, the day after it went back to 0 LTC.
Previous day it said 0,008 LTC, and now it is back to 0 LTC... (its not that I got the 0,006 back, I just mined a bit longer)

Am I doing something wrong or is this site untrustworthy?

Also, all my other stats are gone too, like my efficiency etc.

[1life]

get some ATI cards, nvidia suck for mining

[Damnsammit]

Uh, I got another problem..

So this is the third day of me mining for the mine-litecoin.com pool , and this is the second time that my whole balance got cleaned back to 0,000 LTC...  

The first time I had like 0,006 LTC, the day after it went back to 0 LTC.
Previous day it said 0,008 LTC, and now it is back to 0 LTC... (its not that I got the 0,006 back, I just mined a bit longer)

Am I doing something wrong or is this site untrustworthy?

Also, all my other stats are gone too, like my efficiency etc.

Are you wanting to dabble in LTC or just convert them to BTC?

If it's the latter, then just use a pool like middlecoin that Scrypt mines and gives you Bitcoin instead of the crappy alt-coins.