cloudrck Posted January 21, 2014 Report Share Posted January 21, 2014 (edited) I started mining bitcoins this weekend, wow the difficulty level has increased dramatically with these ASIC processors. I should have jumped on this bandwagon years ago. Is there any interest in the hosting community for Litecoins (LTC)? Just curious, it seems to be the most popular altcoin. Mining for bitcoin is extremely impractical unless you have a ASIC, if you want to mine with standard hardware, I would go with Litecoins and/or Dogecoin that both use scrypt. Edited January 23, 2014 by cloudrck Quote Link to comment Share on other sites More sharing options...
Paul Posted January 21, 2014 Report Share Posted January 21, 2014 Mining for bitcoin is extremely impratical, if you want to mine I would go with Litecoins and/or Dogecoin that both use scrypt. Yep, I switched to litecoin. Bitcoin is only worthwhile if you have a ASIC processor and can do hundreds of gigahashes per second. Michael 1 Quote Link to comment Share on other sites More sharing options...
Ken Posted January 21, 2014 Report Share Posted January 21, 2014 Yep, I switched to litecoin. Bitcoin is only worthwhile if you have a ASIC processor and can do hundreds of gigahashes per second. And even then you have to get lucky from what I understand. Quote Link to comment Share on other sites More sharing options...
Paul Posted January 21, 2014 Report Share Posted January 21, 2014 And even then you have to get lucky from what I understand. It's all about mining in pools. Consistent payouts. I've been using wemineltc.com for litecoin, and it's been going pretty well with just a couple GPUs. Not too serious, just playing around, but right now you can do about $100/mo worth of LTC on a single, decent GPU. Bit Bayou 1 Quote Link to comment Share on other sites More sharing options...
Ken Posted January 21, 2014 Report Share Posted January 21, 2014 It's all about mining in pools. Consistent payouts. I've been using wemineltc.com for litecoin, and it's been going pretty well with just a couple GPUs. Not too serious, just playing around, but right now you can do about $100/mo worth of LTC on a single, decent GPU. What is it after overhead would you say? Quote Link to comment Share on other sites More sharing options...
Paul Posted January 21, 2014 Report Share Posted January 21, 2014 What is it after overhead would you say? Depends on your power costs, use this calculator - https://www.litecoinpool.org/calc A rough estimate of 20-25% for power sounds about right. Bit Bayou 1 Quote Link to comment Share on other sites More sharing options...
cloudrck Posted January 22, 2014 Author Report Share Posted January 22, 2014 Depends on your power costs, use this calculator - https://www.litecoinpool.org/calc A rough estimate of 20-25% for power sounds about right. Hey you want to move our conversations to another off-topic category, I feel we are hijacking this guys thread? What GPU do you use? Quote Link to comment Share on other sites More sharing options...
Paul Posted January 22, 2014 Report Share Posted January 22, 2014 This thread picks up from discussion on cryptocurrency mining from another thread. Quote Link to comment Share on other sites More sharing options...
Paul Posted January 22, 2014 Report Share Posted January 22, 2014 Hey you want to move our conversations to another off-topic category, I feel we are hijacking this guys thread? What GPU do you use? I just use video cards I already had, a Radeon 6870 in one and a geforce 660ti in the other. AMD cards are better suited for hashing. Combined I get almost 400Kh/s, which isn't a lot, but I haven't invested any $$ in it. Quote Link to comment Share on other sites More sharing options...
cloudrck Posted January 22, 2014 Author Report Share Posted January 22, 2014 Yeah I bought my Radeon 7750HD for gaming a couple years back. I haven't had time to tweak anything and I just started a few days ago but I get around 135Kh/s using Cgminer on my Linux desktop. What mining software and settings do you use? Quote Link to comment Share on other sites More sharing options...
Paul Posted January 22, 2014 Report Share Posted January 22, 2014 Yeah I bought my Radeon 7750HD for gaming a couple years back. I haven't had time to tweak anything and I just started a few days ago but I get around 135Kh/s using Cgminer on my Linux desktop. What mining software and settings do you use? I use cgminer on one, and bfgminer on the other. My cgminer settings are currently.. color 02 setx GPU_MAX_ALLOC_PERCENT 100 C:\Users\User\Desktop\cgminer-3.7.2-windows\cgminer.exe --scrypt -o stratum+tcp://lite.wemineltc.com:3334 -u MY_USER -p MY_PASS -I 12 I have the intensity pretty low, so I can use the computer normally. This is the Radeon 6870, and I get about 160Kh/s on Windows 7. I'm certain I could probably tweak this around a bit to optimize it, though last time I tried I got the dreaded blue screen of death. Quote Link to comment Share on other sites More sharing options...
cloudrck Posted January 22, 2014 Author Report Share Posted January 22, 2014 I use cgminer on one, and bfgminer on the other. My cgminer settings are currently.. I have the intensity pretty low, so I can use the computer normally. This is the Radeon 6870, and I get about 160Kh/s on Windows 7. I'm certain I could probably tweak this around a bit to optimize it, though last time I tried I got the dreaded blue screen of death. I got a low profile video card, so it doesn't have the "umph" the regular cards of my series have. Which one gives you better results, cgminer or bfgminer? Mines are export DISPLAY=:0 export GPU_USE_SYNC_OBJECTS=1 export GPU_MAX_ALLOC_PERCENT=100 cgminer --scrypt -o stratum+tcp://lite.wemineltc.com:3334 -u cloudrck.1 -p x -I 13 -w 128 --shaders 512 --thread-concurrency 4000 Quote Link to comment Share on other sites More sharing options...
Paul Posted January 22, 2014 Report Share Posted January 22, 2014 I had trouble getting cgminer working on the other machine, so I have no idea if there is any significant different between the two. I would say, cgminer seems to be more widely used that bfgminer for litecoin but that's just my observation. Check out https://litecoin.info/Mining_hardware_comparison for recommended configurations for your video card. Depending on your specific 7750, it looks like you could get up to 180Kh/s. Quote Link to comment Share on other sites More sharing options...
cloudrck Posted January 22, 2014 Author Report Share Posted January 22, 2014 I had trouble getting cgminer working on the other machine, so I have no idea if there is any significant different between the two. I would say, cgminer seems to be more widely used that bfgminer for litecoin but that's just my observation. Check out https://litecoin.info/Mining_hardware_comparison for recommended configurations for your video card. Depending on your specific 7750, it looks like you could get up to 180Kh/s. Interesting, I may need to increase my voltages/OC a bit. I haven't increased my intensity past 13 yet. I may try before I leave tomorrow. Right now it's fine at 13 allowing me to use my desktop without issues. Quote Link to comment Share on other sites More sharing options...
cloudrck Posted January 23, 2014 Author Report Share Posted January 23, 2014 I bumped up the engine clock from 800Mhz to 900Mhz, upped the voltage +0.025 and changed settings to cgminer --scrypt -o stratum+tcp://lite.wemineltc.com:3334 -u cloudrck.1 -p x -I 13 -w 128 --shaders 512 --thread-concurrency 4000 Now I'm getting 150Kh/s with a 4 degrees C increase in temperature at the moment. Bit Bayou 1 Quote Link to comment Share on other sites More sharing options...
Bit Bayou Posted January 23, 2014 Report Share Posted January 23, 2014 I know the value fluctuates, but what about longevity and uses of alternative cryptocurrencies? Bitcoin is picking up in lots of places and doesn't appear to be going anywhere any time soon... but what about the alternatives like litecoins (as referenced above)? Will it have the lasting power like bitcoin and how long will it take for more businesses to accept such alternatives? It already seems to be taking an eternity for more larger businesses to accept bitcoins, now you want to add another one to the mix??? Quote Link to comment Share on other sites More sharing options...
Paul Posted January 23, 2014 Report Share Posted January 23, 2014 I know the value fluctuates, but what about longevity and uses of alternative cryptocurrencies? Bitcoin is picking up in lots of places and doesn't appear to be going anywhere any time soon... but what about the alternatives like litecoins (as referenced above)? Will it have the lasting power like bitcoin and how long will it take for more businesses to accept such alternatives? It already seems to be taking an eternity for more larger businesses to accept bitcoins, now you want to add another one to the mix??? Nobody can guarantee the longevity of any cryptocurrency. In the end, they are fiat currencies and all fiat currencies eventually fail. However, litecoin is currently considered the "silver" to bitcoin's "gold", and LTC can be readily exchanged for BTC. Their success will depend in large part on their acceptance by merchants as a legitimate currency. It's too unstable for a lot of merchants to consider at the moment, but more and more companies are accepting BTC. Personally, I don't plan on investing or mining any other altcoins, but considering the massive growth of both BTC and LTC, there may be money to be made on some altcoins. Cryptocurrencies are relatively new and the hype may be partially driving growth. It could all collapse, or it could continue to gain a tremendous amount of value. Time will tell. I think the bottom line is, don't invest any money into cryptocurrencies that you won't be ok with losing. Quote Link to comment Share on other sites More sharing options...
cloudrck Posted January 24, 2014 Author Report Share Posted January 24, 2014 (edited) It already seems to be taking an eternity for more larger businesses to accept bitcoins, now you want to add another one to the mix??? In order for any currency to catch on, there needs to be business and consumers that take the initiative to utilize them and make it a viable option. Has anybody looked at the ASIC hardware platform for bitcoin/sha256 mining? I saw a $60USD USB ASIC miner that gets 1.6+Gh/s that uses 2Watts of power. So far there are no scrypt miners on the market, but there is a company that is releasing one soon. Edit: Just got an email saying Tigerdirect accepts Bitcoin Edited January 24, 2014 by cloudrck Quote Link to comment Share on other sites More sharing options...
Paul Posted January 24, 2014 Report Share Posted January 24, 2014 Has anybody looked at the ASIC hardware platform for bitcoin/sha256 mining? I saw a $60USD USB ASIC miner that gets 1.6+Gh/s that uses 2Watts of power. So far there are no scrypt miners on the market, but there is a company that is releasing one soon. Edit: Just got an email saying Tigerdirect accepts Bitcoin 1.6Gh/s is not enough. You will need something like this - http://www.butterflylabs.com/monarch/ which does 600Gh/s if you are serious about mining. ASICs for SHA256 have become very efficient, and when this starts shipping (very soon), the difficulty curve will make those 1.6Gh/s ASICs virtually useless. Good news on Tigerdirect! EDIT: I think I found the 1.6Gh/s miner you're talking about. People get USB extenders and run dozens of these on the same computer. Still, they may not be worth the $60 unless you can mine enough to buy something better, and resell them on ebay. Quote Link to comment Share on other sites More sharing options...
Paul Posted January 24, 2014 Report Share Posted January 24, 2014 You can use a calculator like this to determine roughly how long it will take for the device to pay for itself. http://www.alloscomp.com/bitcoin/calculator Bit Bayou 1 Quote Link to comment Share on other sites More sharing options...
cloudrck Posted January 24, 2014 Author Report Share Posted January 24, 2014 1.6Gh/s is not enough. You will need something like this - http://www.butterflylabs.com/monarch/ which does 600Gh/s if you are serious about mining. ASICs for SHA256 have become very efficient, and when this starts shipping (very soon), the difficulty curve will make those 1.6Gh/s ASICs virtually useless. Good news on Tigerdirect! EDIT: I think I found the 1.6Gh/s miner you're talking about. People get USB extenders and run dozens of these on the same computer. Still, they may not be worth the $60 unless you can mine enough to buy something better, and resell them on ebay. That's what I was thinking. Seems I'm too late to the game with SHA256. I may stick with scrypt Also, I should add my earlier settings gave me a high number of hardware(HW) errors. So I was wasting mining time. This seems more stable @ 120Kh/s export DISPLAY=:0 export GPU_USE_SYNC_OBJECTS=1 export GPU_MAX_ALLOC_PERCENT=100 cgminer --scrypt -o stratum+tcp://lite.wemineltc.com:3334 -u cloudrck.1 -p x -I 11 -w 64 --shaders 512 Quote Link to comment Share on other sites More sharing options...
Bit Bayou Posted January 24, 2014 Report Share Posted January 24, 2014 I'm still not happy about that... I remember looking at Bitcoins at $13 per coin, but really no where (that I shopped) to spend it, so I didn't bother!! But I might have to look in to litecoins Quote Link to comment Share on other sites More sharing options...
cloudrck Posted January 24, 2014 Author Report Share Posted January 24, 2014 I'm still not happy about that... I remember looking at Bitcoins at $13 per coin, but really no where (that I shopped) to spend it, so I didn't bother!! But I might have to look in to litecoins I kick myself for not paying attention to Bitcoins when it was piratical to mine with common hardware. This is why I'm serious about Litecoin and may look into Dodgecoin. http://www.washingtonpost.com/blogs/style-blog/wp/2014/01/21/dogecoin-helps-jamaican-bobsled-team-in-its-quest-for-sochi/ Quote Link to comment Share on other sites More sharing options...
cloudrck Posted February 5, 2014 Author Report Share Posted February 5, 2014 Have you looked into making a plugin for GoCoin? It would cover Bitcoin and Litecoin? I'm looking at the API now. Also, I ordered an AMD 290 from shopblt.com so I can do some real mining. Can't wait until it ships. Quote Link to comment Share on other sites More sharing options...
Paul Posted February 5, 2014 Report Share Posted February 5, 2014 Have you looked into making a plugin for GoCoin? It would cover Bitcoin and Litecoin? I'm looking at the API now. Also, I ordered an AMD 290 from shopblt.com so I can do some real mining. Can't wait until it ships. Haven't looked into GoCoin at all yet, awesome that they work with both btc and ltc. What kind of hash rate are you suppose to get with the 290? Quote Link to comment Share on other sites More sharing options...
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