Asic miners

[spaceships]

Hey, I was just wondering if these can only be used to mine BTC? Or can they be used for LTC and other various crypto-currencies?

[BLADEMASTER_the]

ASIC miners compute one specific algorithm very efficiently. Since Bitcoin uses the SHA-256 algorithm, the ASICs we have right now hash SHA-256.

Any Altcoin using SHA-256 can be mined with an ASIC (the ASICs are specific to the algorithm, not Bitcoin itself).

Some Altcoins use different algorithms, so ASIC miners won't work. Here's a basic list of Altcoins and the algos they use: http://altcoins.com/

[Light]

Most altcoins like LTC use the scrypt algorithm which means they are incompatible with the current generation of ASIC miners created primarily for Bitcoin and hence why GPU mining is still a viable option with altcoins like Litecoin.

[spaceships]

Do you know where I can get asics for Scrypt mining? I was looking at the top performer on scryptpool for doge, and the person is getting about 250MH/s, and I'm kinda curious as to how they're doing that.

[BLADEMASTER_the]

Do you know where I can get asics for Scrypt mining? I was looking at the top performer on scryptpool for doge, and the person is getting about 250MH/s, and I'm kinda curious as to how they're doing that.

There are no ASICs developed for Scrypt mining.

I'm not sure about the explanation for 250MH/s, but it's just a bunch of machines under one account, right? You could set up some pretty extensive/elaborate GPU mining racks -- it might be that.

[spaceships]

Is it possible to mine both LTC and BTC in the same rig? I guess the root question would be is it possible to prevent bitcoin miners from using the graphics card and only utilizing the ASIC? Or would I have to buy a separate rig altogether?

[BLADEMASTER_the]

Is it possible to mine both LTC and BTC in the same rig? I guess the root question would be is it possible to prevent bitcoin miners from using the graphics card and only utilizing the ASIC? Or would I have to buy a separate rig altogether?

ASICs are standalone machines, so that's not an issue. A lot of people build dedicated mining rigs with the cheapest possible hardware apart from the expensive GPU they use to mine.

You wouldn't have to buy a separate rig, but the rig you use would be somewhat tied down by mining if you plan to do it 24/7. To be honest, you should research mining extensively and be aware of the risks. It's difficult to make money day by day because you have to make more in crypto-value than you pay for electricity, let alone re-couping the cost of your mining hardware, let alone making a profit on the venture.

But it can be fun and rewarding, so keep reading!

This is the mining board: https://bitcointalk.org/index.php?board=14.0