Should I mine bitcoins or litecoins?

1

Litecoin mining is currently more profitable for likely all GPUs.

From the bitcoin and litecoin hardware wikis, you'd get 300-400MH/s for bitcoin mining and 340-470kH/s for litecoin mining if you set it up properly (and there is something VERY fishy about you getting 250MH/s with your CPU, I'd guess it is using your GPU though you don't know it...).

For bitcoin, the current difficulty is about 6,500TH/s. Thus, you'd own about 300/6,500,000,000 of the network. At 25 bitcoins per block, 6*24 blocks per day, and $800 per bitcoin, you'd make about $0.13/day. There is specifically-designed hardware for mining Bitcoins, which is way more powerful than GPUs, so unless you can buy a dedicated mining ASIC, your energy bill would overcome your revenue.

For litecoin, the current difficulty is about 90GH/s. Thus, you'd own about 340/90,000,000 of the network. At 4*6*24 blocks per day, 50 litecoins per block, and $25 per litecoin, you'd make about $2.72/day. It uses a...

0 0
2

If you are looking to mine Bitcoins or Litecoins with Minergate pool, here are some useful instructions from the member of our team Janika.

Hello! My name is Janika and I am very fresh in the world of cryptocurrency. I have never tried to mine one of the “major” cryptocurrencies and today I want to prove you that it is not that difficult even for a novice. Just put your mind to it, I will do my best to help you.

Ready

First of all, you need to know that your mining performance will depend on your hardware. Litecoin and especially Bitcoin require powerful resources to be mined profitably.

There are several possibilities to choose from. First of all, you can use the hashing power of your CPU (central processing unit) or GPU (graphic processing unit), by which I obviously mean graphics card. It is safe to say that you will get better results using the latter, but of course you are free to experiment.

The third option appeared in...

0 0
3

There are hundreds of Bitcoin alternatives out there. One term for these is Altcoins, another generic term is cryptocurrency. It’s only worth investing money and time into ones that will stay in existence and grow. Just like with any investment, it’s best to buy at a low price. In some cases that means buying them at a low price on an exchange, and for others it’s mining them with specially designed computing machines.

Running a Bitcoin and Altcoin mining operation, I like to look for Altcoins to mine that are going to go up in value. If I can mine many of them while they are inexpensive and easier to mine, and I keep as many as possible after paying my bills, I’ll end up being very profitable.

Before delving in Altcoins, it’s worth looking at Bitcoin. It has a huge installed base. It will be around for a long time. It is the standard and has so far proven to be solid. It does have a few issues that could lead to problems, but these will get worked out. No one wants...

0 0
4
...
0 0
5

About Me

Hello, my name is Ron Frazier. I have an Electronics Engineering background. I've been using the internet ever since it became available to consumers. I've worked in maintenance on flight simulators, computers, and IT equipment, as well as doing programming and teaching. I have interests in currencies, graphics design, fiction and non fiction writing, GPS systems, Linux, Android, and potentially robotics and VoIP.

About This Article

In this article, I will examine the state of Bitcoin and Litecoin mining for individuals using actual examples of my own GPU mining and theoretical examples of ASIC mining. I do not personally own any ASICs at this point. In part 1, I will discuss what Bitcoin and Litecoin are and how they work as a currency. In part 2, I will examine mining in more detail and review whether it's profitable to mine or not. First, I should mention what this article is not. It is not a tutorial on how to do mining. Rather, it is an...

0 0
6

Intro

Lately, I’ve been trying to earn some money by mining the Bitcoin alternatives, Litecoin. After creating a Guide on How to Start Mining Quarkcoins I made this Guide for How to Mine Litecoins on Windows.

If you have spare AMD Radeon graphics cards lying around, and energy rates that aren’t stratospheric, mining a peer-to-peer digital currency known as Litecoin(think of it as silver to Bitcoin’s gold) is within your grasp. Earlier this week I published a hardware guide as a reference for miners new to the scene, but the following guide should get Windows users up to speed regardless of dedication level or investment level.

Litecoin is a peer-to-peer Internet currency that enables instant payments to anyone in the world. It is based on the Bitcoin protocol but differs from Bitcoin in that it can be efficiently mined with consumer-grade hardware. Litecoin provides faster transaction confirmations (2.5 minutes on average) and uses a memory-hard, scrypt-based...

0 0
7
...
0 0
8

mining bitcoins and litecoins using an nVidia card

These are installation and running instructions for if you have a recent nVidia card (that supports CUDA), are running Linux (I got this to work for Fedora 15, but the instructions should be transferable to most distributions), and want to mine bitcoins (BTC) or litecoins (LTC).

All steps run as root unless otherwise noted.

Instructions for cudaminer, poclbm, and cgminer are provided.

Common steps

install CUDA 5.0

Download and install the appropriate package for your distribution from the

CUDA downloads

page.

The CUDA installer gives you the option to install the nVidia display driver, if you don't have one installed already.

To figure out if you need the 64 bit or 32 bit version, run:
uname -i
If it says "x86_64" then you need the 64 bit version.

Note: for cudaminer, you need to install the 32 bit version (!) For my 64 bit Fedora 15 setup,...

0 0
9

There are several different types of wallets you can choose to store and manage your cryptocurrencies with. The features and functions of the different types of wallets are all dependent upon types and styles. Use this list to help you choose the best wallet for your coins and coin preferences. The examples selected here are just a few of the many of options available for you to choose from.

Hot or Cold?

Any type of cryptocurrency wallet is either classified as a 'hot' or 'cold' wallet. Hot wallets are connected to the internet, whereas cold wallets are offline wallets. Cold wallets are the more secure of the two wallets, so they are recommended for storage of large amounts of coins. Hot wallets are recommended for use in transactions, trades and for coins that you would like to have frequent access to.

Desktop Wallets

Much like it's name implies, a desktop wallet is one that you would access and would live on a laptop or personal computer. These...

0 0
10

Anyone with a decent gaming rig is in a great position to unearth some modern black gold and mine for Bitcoins. We'll walk you through the most cost effective way to turn your gaming rig into an efficient cash machine.

We suggest joining a pool to get started with Bitcoin mining, simply because this is the most consistent way to generate an income from your hardware.

It's not the only way though, and once you've tried it you might want to go it alone. This is a bit more relevant with Litecoins, which are easier to mine, but worth less.

The other decision we've made here is to use an offline wallet to store your Bitcoins, but there's nothing to stop you using an online wallet – the Bitcoin website has a good selection to choose from. If you're using an offline wallet, be sure to back it...

0 0
11

While it is now considered too late for hobbyists without expensive ASIC processors to start mining bitcoins, many of the alternative digital currencies are still well suited for mining on your home PC.

In this guide, we’ll take you through all you need to know to start digging up a few litecoins, feathercoins or dogecoins without any costly extra equipment.

For the most part, cryptocurrencies employ either SHA-256 or scrypt as their proof-of-work hashing algorithm, but many of the newer currencies have opted for scrypt.

Scrypt tends to be the more memory intensive of the two – however, home PCs with reasonably powerful graphics cards can still mine those cryptocurrencies quite effectively, as there are no dedicated ASICs to compete with – yet.

Perhaps surprisingly, it’s still possible to use just your computer’s CPU to mine some of the digital currencies. This holds true, even if you have only a laptop with integrated graphics; though this may not prove...

0 0
12
...
0 0