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 Posted: Fri, 29th Nov 2013 13:48 Post subject: Litecoin the little brother |
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So as some of you know is litecoin the little brother of bitcoin. Do you guys think it will reach the hights of Bitcoin? Value wise I mean and why aren't we as team focussing on this?
Last edited by DevilItachi on Fri, 29th Nov 2013 14:18; edited 1 time in total
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Morphineus
VIP Member
Posts: 24883
Location: Sweden
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| Posted: Fri, 29th Nov 2013 14:10 Post subject: |
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Next year I'm going to start up Shitecoin and it will surpass everything (YES! Even Newtcoins). You will enrich yourself just by playing games and idling your PC. People going to work will be idiots for the amounts you'll rake in!
So come on team let's focus on the Shitecoin! 
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| Posted: Fri, 29th Nov 2013 14:33 Post subject: |
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There's actually 100s of different digital coin types. Some of them have quite unusual names like for example sexcoin.
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Bigperm
Posts: 1908
Location: Alberta,Canada
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| Posted: Fri, 29th Nov 2013 18:23 Post subject: |
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Out of all of the other coins. Litecoin is IMO the only other viable coin, it its even that.
Its basically the same as bitcoin but the developer changed or has he said fixed the cryptography.
The idea of Bitcoin is decentralization. The problem with Bitcoin is that as more and more hashing power comes on, the higher the difficulty, leading to more and more expensive custom hardware which will be in the hands of a few, thus removing decentralization, the greatest benefit of Bitcoin.
Litecoin is said to fix this issue.
Im mining them, why not? Just made another 10K on BTC which i never though was possible. LOL. presently i mine 1 LTC a day. If you have a AMD card why not. Just download the miner and go. I lower the intensity on mine a bit for hardware longevity and computer useability.
| Jenni wrote: | | I drunk. I don't fucking care! |
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Bigperm
Posts: 1908
Location: Alberta,Canada
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| Posted: Fri, 29th Nov 2013 20:21 Post subject: |
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Got my 5850 and my other 6850 up last night  Litecoin mining is so much more finiky to get the miners running. Have 4 cards running were as that other thread i only had 2 up at the moment. Ill check my pm
| Jenni wrote: | | I drunk. I don't fucking care! |
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| Posted: Fri, 29th Nov 2013 20:47 Post subject: |
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if u like mining just go play some eve, its really good on not stressing your card as well.
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Morphineus
VIP Member
Posts: 24883
Location: Sweden
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| Posted: Fri, 29th Nov 2013 21:15 Post subject: |
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| moosenoodles wrote: | | if u like mining just go play some eve, its really good on not stressing your card as well. |
And you get better returns |
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| Posted: Fri, 29th Nov 2013 21:40 Post subject: |
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| moosenoodles wrote: | | if u like mining just go play some eve, its really good on not stressing your card as well. |
cashing out is a bit harder though
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| Posted: Fri, 29th Nov 2013 21:56 Post subject: |
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you sell plexes
| Lutzifer wrote: | | and yes, mine is only average |
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| Posted: Sun, 1st Dec 2013 20:11 Post subject: |
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my 760gtx generates 175khashes with cudaminer
or 160 when I run it paralel with cpuminer on my 4670K which generates 80 more
for a total of 240 which nets me a whooping 0.1 coin/day so I gave up
| Lutzifer wrote: | | and yes, mine is only average |
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| Posted: Sun, 1st Dec 2013 22:08 Post subject: |
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fuck this thread.
it made me aware of other forms of cryptocurrency and now i'm on the verge of investing in one of them.
and i know I HAVE to do it because if i wont and lets say quarkcoin will be worth 1000$ in future i'm going to kill myself.
and it's quark coin i think im going to invest some money. it's really cheap and on a rise.
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| Posted: Sun, 1st Dec 2013 22:09 Post subject: |
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enjoy the bubble currency
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| Posted: Sun, 1st Dec 2013 23:20 Post subject: |
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ok so I installed this litecoin for windows and says I am 111 weeks back... ehm... ok so what now? When will it start mining?
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| Posted: Mon, 2nd Dec 2013 01:11 Post subject: |
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| Posted: Mon, 2nd Dec 2013 12:55 Post subject: |
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Pretty good starters and to add you should first look if it is feasible by using the mining comparison site with https://www.litecoinpool.org/calc
but the prices for both the litecoin ( value of ltc is now halved ) and bitcoin have been dropping a little bit in the past days.
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| Posted: Mon, 2nd Dec 2013 13:23 Post subject: |
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yeah, litecoin atm might be better to buy some with cash, than to convert from electricity bill.. 
| Lutzifer wrote: | | and yes, mine is only average |
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| Posted: Mon, 2nd Dec 2013 13:56 Post subject: |
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Really? I just calculated that my computer takes around 300 watt average per day (I guess that is realistic for my setup?) and at 0.29€/kWh that makes a profit of almost 3-4$ per day (6950 with ~500 kH).
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| Posted: Mon, 2nd Dec 2013 14:18 Post subject: |
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you're right, I meant NVIDIA setup - I need 10 days at around 450W? for 1 coin..
| Lutzifer wrote: | | and yes, mine is only average |
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spankie
VIP Member
Posts: 2958
Location: Belgium
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| Posted: Tue, 3rd Dec 2013 17:27 Post subject: |
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| PumpAction wrote: | | Really? I just calculated that my computer takes around 300 watt average per day (I guess that is realistic for my setup?) and at 0.29€/kWh that makes a profit of almost 3-4$ per day (6950 with ~500 kH). |
And your rig is free?
So you mine a year, you get 1k a year? And after mining a year, your comp is bust because it has been mining 24/7. Buy new pc. Damn, not that profitable. Plus, during the mining, i bet you cant do much other stuff on your rig...
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| Posted: Tue, 3rd Dec 2013 18:10 Post subject: |
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you can buy ~9kH diggers 350W for ~250eur..
| Lutzifer wrote: | | and yes, mine is only average |
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MAD_MAX333
Moderator
Posts: 7020
Location: Toronto, Canada...eh
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| Posted: Tue, 3rd Dec 2013 18:43 Post subject: |
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| StrEagle wrote: | | you can buy ~9kH diggers 350W for ~250eur.. |
I have found finding reputable dealers and especially ones who actually are shipping stuff NOW (as opposed to a year from now) extremely difficult.
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| Posted: Tue, 3rd Dec 2013 21:51 Post subject: |
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| StrEagle wrote: | | you can buy ~9kH diggers 350W for ~250eur.. |
Are you sure they are meant for litecoin?
Built ASIC bitcoin miners don't work for litecoin since it's using scrypt crypto.
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| Posted: Thu, 5th Dec 2013 07:56 Post subject: |
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| spankie wrote: | | PumpAction wrote: | | Really? I just calculated that my computer takes around 300 watt average per day (I guess that is realistic for my setup?) and at 0.29€/kWh that makes a profit of almost 3-4$ per day (6950 with ~500 kH). |
And your rig is free?
So you mine a year, you get 1k a year? And after mining a year, your comp is bust because it has been mining 24/7. Buy new pc. Damn, not that profitable. Plus, during the mining, i bet you cant do much other stuff on your rig... |
I am using my now almost 4 year old computer for it. And if I make 1000€ with this shit and my computer breaks down (with everything inside it) I'll still be 600€ in the plus. And all of this if the rate stays at this level. Though because of the hype it'll imo rise further.
And if it drops in rate I will sell whatever I have digged so far and just pay the 60 euro in electrical bill...
@streagle: at 300W my computer is at ~450kH/s
But I need a new pool, bigltc is not very powerful it seems. And some say it's not trustworthy either :/ |
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| Posted: Thu, 5th Dec 2013 12:15 Post subject: |
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I am sorry:
7 GH/s at 50eur
24 GH/s at 300eur
using avalon chips, not sure if they're good at anything else than bitcoins
there is one:
40 GH/s Technobit S-hash 16 chip Bitfury that supports Stratum and backup mining pools for 700eur (out of stock)
http://technobit.eu/index.php
they're bulgarian, should be respectable
| Lutzifer wrote: | | and yes, mine is only average |
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| Posted: Thu, 5th Dec 2013 13:20 Post subject: |
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those small chips are basically sha256 workers which do not work for litecoin. Litecoin uses scrypt. Because of that the algorithm is more complex and you wont have small asics doing all the work 
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spankie
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Posts: 2958
Location: Belgium
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| Posted: Thu, 5th Dec 2013 16:19 Post subject: |
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Spankie, please stop it. You are not saying anything constructive and all you do is | Code: | | http://youtu.be/o9oY7zpan18?t=2m38s |
 Spoiler: | |
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MAD_MAX333
Moderator
Posts: 7020
Location: Toronto, Canada...eh
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| Posted: Thu, 5th Dec 2013 17:44 Post subject: |
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Lol spankie u have posted the same basic post bunch of times now. We get that you think we are dumb, and we don't really care. I
As per bit coin, federal Reserve minister bernaky or whatever his name is said bit coin holds promise for future, same with Germany's finance guy. I agree the speculators have taken over now. But the currency is growing. People in canada are now selling their houses for bit coin. Lol
Personally I like the lite coin process better, with these mega asic systems you're putting control in hands of the few, which was never the intention of bit coin, and that is where litecoin holds promise.
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