Soldato
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If the price doubles, its all good. If it halves, thats like a quarter of the return presumed
*** CRYPTO-CURRENCY MINING SYSTEMS: GET DAT $$$$ ***
- Thread starter NathWraith
- Start date
If diff continues at 20% then it becomes unprofitable for me by the beginning of Jan at 1.6MH/s. Hopefully diff won't keep going at that rate, but even at 10% increases it still only gives me an extra month before I have to stop mining LTC with $433 in pocket. So if you got that £1200 dual 280x rig with 1.4MH/s, then I think your chances of paying it off quickly are pretty slim.
Realistically though, I don't see a continued 10% increase happening long term. There aren't enough gpus to sustain that. Otherwise in 2 months we'd be seeing diff jump in increments of 1000! That's a huge number of gpus to come online every few days. It has to level out at some point, I hope!
Realistically though, I don't see a continued 10% increase happening long term. There aren't enough gpus to sustain that. Otherwise in 2 months we'd be seeing diff jump in increments of 1000! That's a huge number of gpus to come online every few days. It has to level out at some point, I hope!
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Associate
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Well I have 2x R9 290s, I use em for gaming. I stopped mining about 2 weeks ago when people started rushing into it and I had trouble sorting out the heat issue.
If I kept my rig going 24/7 I'd only make about 11LTC in 50 days. Now if the price rises to $100 each then yeah I'd have a nice profit, but I personally can't see LTC going past the previous $50 record for a while. But that's all just me speculating, for all I know the price could skyrocket to $500 each, and you'll all be laughing all the way to the bank with your profits.
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Interesting. I'm really torn between 3 x 290 cards or 4 x 7950. I've heard people have had better results mining alternative coins then selling them for LTC/BTC.
my single 7850 can mine 0.15+ LTC in 24hours (7.5+ coins/50 days) and that is far less khash than even a single 290 so you are doing it wrong or speaking out of your backside
right now mining easily pays for the power costs , it's not even close to breaking even.
so for now it's worth mining still, will it be in 1-3months? possibly not but you never know.
it should still be profitable for long enough that these systems will at least pay for themselfs
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290's simply so you get epic gaming FPS too.
I'll be keeping this rig (2 x GTX 770) and creating an entirely new one for mining
you would get about 0.8- 0.9LTC/day, which at the current value is about $28 a day. if diff doubles again then you'd get half that, and so on. And coin value fluctuates a fair bit (not to mention horrific fees for cashing out). You'd be looking at an extra £100/m on your leccy bill too.
It could ROI, but it's not risk-free. With thousands of gpus hitting the network every day, LTC is increasingly becoming a game for 100gpu farms rather than little guys like us (eg the way of BTC, but without the coin value).
E: diff has gone up 10% so drop those figures above by 10%
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Associate
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my single 7850 can mine 0.15+ LTC in 24hours (7.5+ coins/50 days) and that is far less khash than even a single 290 so you are doing it wrong or speaking out of your backside
right now mining easily pays for the power costs , it's not even close to breaking even.
so for now it's worth mining still, will it be in 1-3months? possibly not but you never know.
it should still be profitable for long enough that these systems will at least pay for themselfs
Again, you're ignoring the difficulty increments. As long as mining is profitable for the average person with 2-4 cards, the difficulty will rise. It's not unrealistic to assume the difficulty will reach 4300 in 50 days time (it doubled in less than 15.)
Yes mining is profitable for now and yes the price of litecoins could shoot up to $100, but if you're dropping 1.5k on a machine specifically for mining, just be aware of what you're getting into and keep an eye on the difficulty.
I'm glad OCUK are offering these systems, because the more people that know about cryptocurrencies the better.
LTC is going the way BTC did before ASIC... Thankfully LTC is 'engineered' in such a way so there will never be a 'killer' setup (like the huge boost mining BTC with ASIC).
But the difficulty increases and publicity (with the increased popularity increases pushing difficulty even higher) make mining more and more a 'rich mans game' - dedicated multiple multi-gpu rigs & farms being the only profitable ones.
But the difficulty increases and publicity (with the increased popularity increases pushing difficulty even higher) make mining more and more a 'rich mans game' - dedicated multiple multi-gpu rigs & farms being the only profitable ones.
Associate
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Article I read several months ago said for BitCoin GPU mining was no longer viable as people had moved to FPGA based rigs and the dedicated ASICs for mining were starting to appear ... n.b. BTC value has increased significantly since then so this may not necessarily still be the case. It did say that Litecoin still offered a positive return using GPUs but again commented that once people with FPGAs etc decided to move into Litecoin mining then GPUs could rapidly be sidelined (with BitCoin think it showed how there was a significant move up in the difficulty rating around the time that FPGAs started to be used)
Associate
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These guys claim to be working on ASIC miners for Litecoin, and I guess we'll find out how much truth their is to their claims in under a week.
I think people buying dedicated rigs for 1500 are a little late to the mark on this. IF say you were gonna build a new AMD system anyway then its a nice way to recoup some money back for a few months.
But buying into the machine purely to make all the money back is silly imo. But knowing my luck the prices will sky rocket and I'll look the fool
But buying into the machine purely to make all the money back is silly imo. But knowing my luck the prices will sky rocket and I'll look the fool
if they do then every currency on the market will be buggered pretty quickly for gpu miners.
Associate
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True, it's just something to keep in mind if you're planning on investing in GPUs specifically for mining. If what they are saying is true, I doubt we'll see them for over a year anyway.
It's worth getting into mining if you have a couple cards already, as it involves a lot of fiddling about to get the most khash out of your cards as possible, much like benchmarking.
It's worth getting into mining if you have a couple cards already, as it involves a lot of fiddling about to get the most khash out of your cards as possible, much like benchmarking.