Old nVidia GT running at GH/s, is this right? : litecoin
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I couldn't wait on 's to come back in stock. It's also bad to assume the LTC reward will remain constant over a period of time. Calculator up that? Going litecoin thread after thread I am consistently calculator a misconception. Kudos to the OP for your efforts. Tarun January 28th, at I plan to hold everything in paper wallets till block bonus halves, litecoin that time either it's all wasted and LTC is worth nothing or.
Thanks for this excellent post, the best explanation I have seen on how to estimate ROI when considering buying a litecoin mining rig. Given that the price has been going up as of late, apparently there are other non-miners out there buying up coins. LTC exists as an early copy of the BTC blockchain with the modification of a couple variables that the creators though would help Litecoin be more sustainable.
Visit the offical litecoin website at litecoin. I'm sure someone knows a lot more than I do. Either that or he threw his hard drive in the calculator and is now scouring landfill like that pommy bloke.
Welcome to Litecoin, the front page litecoin the internet. No "I just [bought sold] Litecoin" posts. That's what I was making a couple months Whats up with that?
You can't escape difficulty increases - however, at the early stages of a new currency coin calculator is less competetitive therefore your proportional generation rate may be larger than that of LTC.
Your display drivers also crashed, so I assume that you're working the GPU too hard. Going through thread after thread I am consistently seeing a common misconception. The proper way to look at mining rig ROI rates is brought up in various places, but it is clearly being ignored en mass i.
Calculators like these below are simple calculations based on the current difficulty. These provide a number of outputs revenue rates over different time scales.
Which makes them very very misleading. Let's walk through a couple scenarios and asses the current situation of the network, what difficulty rate increases are 'possible' and how hardware availability has an effect. One of these calculators would output the following:.
Leading to the assumption the hardware will pay itself off in just 1 month's time. However - reality quickly hits once you look at the network difficulty increases. The Litecoin network normalizes the difficulty every blocks such that the next blocks will have an estimated solution time of 3. Thus the difficulty will increase or decrease based on the network hashrate roughly ever 3.
Past difficulty increases have been between The propagation of a Kh miner output is shown in the table here from my own calculator. Factor in electricity and you're likely to never make ROI. There are only so many GPUs being manufactured, only so many miners mining LTC over another crypto at any one time and there is of course downtime for hardware issues.
Lets take a look at some numbers. From the 3rd example where the network hashrate increases in the short term and levels off in the long term - We only need to see an influx of X the current network hashrate before the end of December to increase the difficulty enough such that in the long term ROI may not be possible. Just a bit of food for thought. Realistically calculate your ROI and proceed under the impression there are many new miners hopping on this bandwagon in the near term.
Take comments that say "Diff is going to go through the rooooooof" skeptically and ask yourself what lies within 'reason'. At the time of posting per: If you visit their pages we can deduce a bit of information about how many people are mining and rough orders hashrate magnitude.
At LiteGardian there are miners outting a total HR of 9. Now you must ask - how many workers does each miner run. I estimate that this approximate 50k workers equates to less than 25k individual miners. How many people are LTC mining on dedicated rigs? Part time on gaming rigs? Back to my previous examples. I can see the network hashrate increasing times in the near future monthsbut without the advent of a new technology that increases hashrates significantly I believe the limiting factor will be two fold.
New miners and quantity of available new GPUs. If diff continues to increase without decreasing, then the amount of LTC that you get by mining is less than the amount of LTC that you could have received if you had just bought at current prices.
But the influx of newcomers, looking for free money, are all going to be selling. While I'm one of the newbies who is still waiting on the R GPU cards to come in so I can build a mining rig, I have gone and purchased a bunch of Litecoins in the meantime. If it turns out I don't have the technical ability to build a mining rig, I'm going to go back to buying Litecoins, as I feel they have some potential.
You should look into mining altcoins and trading for LTC. Setting up the mining operation is pretty simple I admit, slightly confusing at first. Mining alt coins is actually one of the reasons I decided to set up a mining rig rather than just buying litecoins outright.
It gives me variability along with the ability to build up a small cache of the newer cryptos, in the chance one of them ends up exploding in value. While I have no hope of making any money back on bitcoins, I think I could use it to build up a nice portfolio of some of the other up and coming sha coins. Yeah I'll probably look into them closer along with all the other second tier alt coins. The only issue I had with WorldCoin was that the only new thing they had to offer over other scrypt-based currency was faster transaction time.
Something that hasn't really been a huge concern for most cryptocurrency consumers, as far as I can tell. Their whole mining ecosystem has now been relegated to a couple of powerhouses e. I am a bitcoin owner myself, but I just don't understand how bitcoins can be great if the creation of wealth is controlled by the few, rich, and powerful. This is my biggest fear about bitcoin. The concentration of the mining market in a relatively small number of large machines makes it more and more susceptible to toppling by a government agency.
I could totally see a government doing this if they felt sufficiently threatened by bitcoin. This is one of the reasons I'm trying to diversify with Litecoin. But of course I'm still concerned it could be susceptible to the same attack should those scrypt ASICs they keep talking about come into existence. I've been looking into the proof-of-stake mint workarounds proposed by peercoin and other similar alt-coins, but I'm afraid I don't know enough about these other systems to determine whether they would really be reliable or any less susceptible to attacks in the long run.
But once it gains serious value I'm sure someone will figure out a way to create specialized ASIC-like hardware to dominate that market as well.
That's kind of why I'm optimistic about Sunny's earlier project, Peercoin, and its proof-of-stake system. Proof of stake is the only system that I'm aware of assuming I understand it correctly that doesn't rely on something that can be worked around with specialized hardware in the future.
But in the meantime, I agree Primecoin has serious potential, and am mining them on this computer as I type this. Plus it gives me a warm fuzzy feeling that the proof-of-work calculations are being used to advance science.
If they figure out how to make comparably fast asics for Litecoin, they could topple that as well. And of course if the US did it to bitcoin now, it would probably kill consumer confidence in all digital currencies.
Lots of us are still running Bitcoin miners. Bitcoin certainly has the most momentum behind it. If any cryptocurrency succeeds, I think it will be Bitcoin.
ASICMiner is actually a fairly small piece of the puzzle, if you look at the total hashing power distribution. Using Gyft I'll be able to buy a few Christmas presents with the spoils. Mining rewards degrade over time and there is a finite amount of coins.
The notion of 'creation of wealth' is a bit of a misnomer, at best. These few are acting like the banks of today by validating transactions, while we may see that as a 'money maker', there are plenty of other more viable options: Each found blocks reward is 25 BTC. There are only 12million BTC mined so far. With the bitcoin mining arms race heating up for the wealthy elite, they are going to own a shit load of BTC.
I'm mining already and I plan to be mining and holding up till the point when the output vs electricity price is so crazy that I'm no longer motivated to pay for it. Until them I'm paying for hardware and electricity from my own salary, might also buy a chunk of LTC if the prices drop.
I plan to hold everything in paper wallets till block bonus halves, by that time either it's all wasted and LTC is worth nothing or.
The hardware is a likely a sunk cost, but if you buy the latest R9 stuff it might still be interesting to gamers months from now and you'd sell to recoup some of the cost. The way I see it it's even better to buy R9 than HD series for this reason alone because it's dated as it is now and fetching crazy prices that no gamer would pay for it.
Can you elaborate on what you mean by "till block bonus halves? Is this a pool specific bonus? This already happened with BTC. Which mean that if mining ever becomes less profitable, you're likely going to see a lot of used GPU going up for sale.
Offer will likely surpass Demand at some point. I know of several people getting into mining specifically for LTC that don't plan to do cards at a time. But still ask yourself. How many people are in that card category? That is if you have no power cost.
