Litecoin

[Miztaziggy]

If you're confused by Bitcoin, stop reading now

Just thought I would let you guys know about this before it explodes in a similar way to Bitcoin. Though not quite as on the ball as my original Bitcoin post back in 2011:
http://vtr1000.org/phpBB3/viewtopic.php ... t=+bitcoin

Basically, it's starting to get some attention and price is already up to $40 or £26 each. They are still available for mining on GPU.

If you have a computer with a half decent graphics card, preferably AMD, and want to mine them, let me know ill help you get set up.

I have been mining about 5 a week with my computer (approx £125 a week at current prices) and will hold them to see if they go into the hundreds of ££.

[Virt]

I have an nVidia GTX 660M in my gaming laptop at home, do you think that would be capable of doing anything with Litecoins? It's probably gonna be a while until I get the money to sort a desktop out so I'm kinda limited right now

It's by no means an uber-powerful GPU, but it's still capable of running most AAA games on High or Ultra at about 30-40fps

[Miztaziggy]

I have an nVidia GTX 660M in my gaming laptop at home, do you think that would be capable of doing anything with Litecoins? It's probably gonna be a while until I get the money to sort a desktop out so I'm kinda limited right now

It's by no means an uber-powerful GPU, but it's still capable of running most AAA games on High or Ultra at about 30-40fps

Yeah it's capable of doing the mining, but the Nvidia cards are quite slow.

For example, a GTX 770 is approx the same speed as my card a R9 280x, however the GTX hashes at about 200 KH whereas the R9 280 hashes at about 700 KH.

I think the 660 will be about 100 KH, so will probably mine them at a rate of between 1 and 2 a week. May as well do it for a while, get a couple in your wallet and hope they reach £500 each at some point. May be enough profit in a year or so to buy something nice for your bike

[Virt]

Money is money, I don't earn much so any extra income is appreciated in honesty I'm actually looking at a gaming PC right now, I'm just £200 short. I know a gaming/software development company that went bust and they're selling machines for £200 each. I can't get the specs because they won't tell me, but apparently they're fairly high spec. 8GB RAM and 500GB HDD is all I know, but tbh I can strip them for parts and easily make more than £200 back anyway. Those two combined can sell for about £80 second hand It's just the case of getting the money and then getting it to the flat, after that it will be upgradey time

I've done some quick research and apparently CPU mining is also possibly on Litecoins? What's your experience with that, is it possible to mine with a CPU and a GPU at the same time? I know CPU mining would be inherently slower due to the way calculations are performed, but nothing I ever do uses more than 50% of my CPU ( Quad Core 3.4Ghz i7-3630QM or something ). Any bonus is a good bonus really

[Miztaziggy]

Yeah CPU mining is fairly slow, but still worth doing if you can.

£200 each for the machines is quite good?

Will they be i5 / i7 machines? Why won't they tell you the specs?

If they have good graphics cards, ask how many they have, and if I can get a deal for buying say 10. If you can set it up, ill buy you one for free.

If you're going to mine Litecoins, with Nvidia you'll need cudaminer and a litecoin wallet.

Ill get some links together for you and post back here tonight.

[Virt]

Seeing as so few things are optimised with threading it just makes sense to allocate a core or two to mining, depending on what I'm doing. I don't like going above 80% CPU usage purely because Windows is sh1t and my version of Mozilla isn't exactly stable at the moment. Causes a few spikes, most noticeably on the forum actually. I do need to check it out...

I can't get the specs because when they went bankrupt they sold all of their furniture and machines to a third party to cover expenses, presumably for bankrupcy or something? I'm exactly knowledgeable about all this stuff. The third party doesn't know the specs, and I don't want to pressure them too much because if they are quite high end then they can see how much parts are worth and charge me even more for them. It isn't ideal I think they have quite a few, I should be hearing about it maybe tomorrow.

I'll have a look for links and e-mail myself as a reminder for when I get home I thinks, I'd like to start ASAP. I missed the BTC surge, I didn't get my laptop until it was too late for GPU mining even though I'd been following them for quite a while ( being a student totally sucked ).

Thanks for the info though I'm currently browsing r/litecoinmining to gather information and get a wider understanding of peoples' views. Seems that litecoins until recently were only worth a few quid, it's only recently they've spiked in price. Sounds like an ideal time to get in there

[Virt]

Also, if anyone else is reading this give these two websites a check if you're interested.

https://litecoin.info/Mining_Hardware_Comparison#NVIDIA

http://www.litecoinminingcalculator.com ... 7795&fee=0

Use the first link to find out the hash rate of the hardware in your rig and use the second link to find out how many that will produce a day/week/year at the current difficulty. From what I can see the difficulty changes every 3 days to accommodate a linear release of Litecoins. The website has the current difficulty stuck in it, so you just need to stick in your hash rate really.

Using that I'll be, theoretically, getting about 80Kh/s. Equal to 2LTC's a month.

[Miztaziggy]

Don't worry about 100% processor usage. I use my processor to use prime coins at 100%, just run it at low priority so everything else runs fine.

All you really need to get started with litecoin is the wallet Litecoin-QT, download it and let it sync - it will take a couple of hours.

Then cuda miner and a pool to mine with.

Best pool is wemineltc
http://wemineltc.com/gettingstarted

Create an account there.
Run the command line cuda miner and use the options
-o stratum+tcp://global.wemineltc.com:3334
-O "your worker name and password"

You can then leave it running and log into that pool to check your balance. You can cash out whenever you like, I have mine set to payout automatically at 5 LTC.

Let me know about those PCs, sounds like a good deal. I will seriously be up for buying a few of those if they're half decent.

[Virt]

Ah, fair enough. I've never really known how the whole prioritising a program will affect it or others so I generally don't touch it

I'll have a shot at that tonight then, sounds like my evening is sorted

I'll probably be keeping the few I mine for a while and waiting for another price spike so I can afford something like a 7970 to just stick into a minimalist rig if it seems good. Hash rate of 760 makes 0.5 a day, can't say no to that. And they're only £300. Depending on what happens with these computers I may be sticking one in there to save more money.

I should be getting some news about the PC's tomorrow, as I said earlier. I'll make sure to let you know what the deal with them is, if possible If not tomorrow it will be Monday. My boss is thinking about buying some for our new office, which we move into on Monday, so if he does I can run a DxDiag and get you the true specs then. Plus give indications about size/weight/condition etc.

EDIT: An alternative is just save up a bit of money a month and buy this:

http://www.coinminingrigs.com/budget-mining-rig/

Seems to be damned effective for it's price, I like the idea of using a plastic crate as a case. Useful for the increased airflow and whatnot

It's twice the price of the £200 computers, roughly, but much more specialised

[Miztaziggy]

I'll probably be keeping the few I mine for a while and waiting for another price spike so I can afford something like a 7970 to just stick into a minimalist rig if it seems good. Hash rate of 760 makes 0.5 a day, can't say no to that. And they're only £300. Depending on what happens with these computers I may be sticking one in there to save more money.

You will get more bang for buck buying second hand 5870s or 6950s on ebay for less than £100 each. They get about 500 KH. Run in Xfire for 1 MH and it's quite good.

[Virt]

I've read that it's easier not to crossfire or sli the gpu's. That way you have more control over each one, and the effect of crossfiring or sli'ing is not always greater than the sum of it's parts. Then again, I've only been doing research since you posted this thread. Either way, I still require a basic computer to modify first OR some hardware to build a rig as a test run.

Why do good things cost so much?

[Saintsman27]

Mitzaggy's first sentence was enough fer me ..
har

[Virt]

Finally got the fecker running. Performing autotuning now Taken a couple of hours of pure guesswork, sometimes I forget why I like technoloy

[Miztaziggy]

Finally got the fecker running. Performing autotuning now Taken a couple of hours of pure guesswork, sometimes I forget why I like technoloy

Excellent. What's your hash rate?

Are you using wemineltc?

[Virt]

Just set up CPUminer and CUDA miner. GPU is giving a shitty 40-ish and I'm getting the same from my CPU. Ehh, gotta start somewhere

And yeah, using them. All the pool fanboys on reddit confused me and I trust you more with a recommendation than them

wemineltc has just updated and is giving an indicated 86Kh/s. So roughly that