Any profit left in Altcoin ? Setting up GPU rig.

challen

newbie

Activity: 48

Merit: 0

Quote from: Snail2 on October 20, 2013, 11:10:02 AM

LTC has a lot of currently unused potential: a solid hashrate, active developers, a big community, and lots of bagholders

. What it doesn't have is lots of real world services and marketing. ("LTC on Gox tomorrow!" is not marketing. It's bullshit.)
So...as soon as it will have services in the background it can break through. We will see I guess.

+1
Also, playing with alt-coins is a bit like playing hot potato. Most ppl try to flip it to btc before the coin dies. Lots of speculation with diminishing chances of adoption. While it's true an alt-coin could theoretically over-take bitcoin in terms of adoption...

http://youtu.be/zMRrNY0pxfM

Vorksholk

legendary

Activity: 1713

Merit: 1029

Yup, you could mine Blakecoins if Litecoin and the other Scrypts don't do it for you

VforVictory

sr. member

Activity: 280

Merit: 250

V for Victory or Rather JustV8

Quote from: ?? on ??

Quote from: VforVictory on October 20, 2013, 01:03:13 PM

I don't really see much of a point, since all the alt currencies are falling, as Bitcoin is overshadowing them by legally being made a currency.

Wrong on so many levels.

Wrong? They have been falling for months straight. LTC is almost at price parity with BTC, so there isn't a point in mining that over BTC.

VforVictory

sr. member

Activity: 280

Merit: 250

V for Victory or Rather JustV8

I don't really see much of a point, since all the alt currencies are falling, as Bitcoin is overshadowing them by legally being made a currency.

joeperry

sr. member

Activity: 2296

Merit: 470

Telegram: @jperryC

Quote from: EfterlysT on October 20, 2013, 11:51:49 AM

Alright. Right now there is no big profit in mining LTC, i see that. But i am 100% sure the price will explode when more and more people get their eyes open for this type of currency. Just like what happend to BTC a couple of days ago. This is the future and loads of people will join this train in the next year.

Most people are SICK of the banks, including me.

With services you mean places to pay for stuff with LTC right ? Webshops and so on ?

Imagine a game like World of tanks, where you can buy premium items with altcoins , or a betting plattform like betfair , or some adult places like livejasmin (all adventages here like full anonymity) that´s the bussines, creating one, or just convicing them to embrace the cryptos.

At this moment, you will lose money mining any coin, because is easy plug a device and let it runnning, and losing money, the real value is developing useful software for the alts

EfterlysT

full member

Activity: 425

Merit: 109

Alright. Right now there is no big profit in mining LTC, i see that. But i am 100% sure the price will explode when more and more people get their eyes open for this type of currency. Just like what happend to BTC a couple of days ago. This is the future and loads of people will join this train in the next year.

Most people are SICK of the banks, including me.

With services you mean places to pay for stuff with LTC right ? Webshops and so on ?

meta.p02

full member

Activity: 196

Merit: 100

Quote from: joeperry on October 20, 2013, 11:18:13 AM

Quote from: meta.p02 on October 20, 2013, 09:31:06 AM

http://ltc.kattare.com/calc.php

If you mine LTC at 2.6 MH/s and 850W (I don't know the exact figures, but they should be in this range) and at 1000 difficulty, you'll earn $140 a month. If you go to multipool.us, you should get a bit better (set auto cashout, auto sell), but probably not by much.

The payback time for this should be less than 1 year, unless the scrypt FPGA boards come out quickly, in which case you should sell.

How ? Not even with 4 7950.

You´ll have to pull a good oc on 4X7950 with about 250W each one, plus 150 watts of mobo and HD

The real thing is about 2-2.5 khash/w

In this moment, you´ll have to invest in hardware and electrity every month (it depends on the $/KWH of your country, but likely too expansive for mining) . We are too many mining, we need people developing services for the Alts, not miners.

1150W and 2.6MH/s, with a pessimistic 1.2K difficulty gives $115 per month, making the break-even point about 1 year.

For services: Agree totally. Many of the current altcoins are created because they have interesting new proof-of-work algorithm, or just for the sake of creating a new coin, but few take into account the need for services.

joeperry

sr. member

Activity: 2296

Merit: 470

Telegram: @jperryC

Quote from: meta.p02 on October 20, 2013, 09:31:06 AM

http://ltc.kattare.com/calc.php

If you mine LTC at 2.6 MH/s and 850W (I don't know the exact figures, but they should be in this range) and at 1000 difficulty, you'll earn $140 a month. If you go to multipool.us, you should get a bit better (set auto cashout, auto sell), but probably not by much.

The payback time for this should be less than 1 year, unless the scrypt FPGA boards come out quickly, in which case you should sell.

How ? Not even with 4 7950.

You´ll have to pull a good oc on 4X7950 with about 250W each one, plus 150 watts of mobo and HD

The real thing is about 2-2.5 khash/w

In this moment, you´ll have to invest in hardware and electrity every month (it depends on the $/KWH of your country, but likely too expansive for mining) . We are too many mining, we need people developing services for the Alts, not miners.

Snail2

legendary

Activity: 1512

Merit: 1000

LTC has a lot of currently unused potential: a solid hashrate, active developers, a big community, and lots of bagholders

. What it doesn't have is lots of real world services and marketing. ("LTC on Gox tomorrow!" is not marketing. It's bullshit.)
So...as soon as it will have services in the background it can break through. We will see I guess.

EfterlysT

full member

Activity: 425

Merit: 109

Quote from: meta.p02 on October 20, 2013, 09:31:06 AM

http://ltc.kattare.com/calc.php

If you mine LTC at 2.6 MH/s and 850W (I don't know the exact figures, but they should be in this range) and at 1000 difficulty, you'll earn $140 a month. If you go to multipool.us, you should get a bit better (set auto cashout, auto sell), but probably not by much.

The payback time for this should be less than 1 year, unless the scrypt FPGA boards come out quickly, in which case you should sell.

If i had it right it should be around 72usd profit monthly at this difficulty.

Well it could have been better but at the same time i have a wet dream of the Chinese people adapt LTC to their Exchanges faster than Gox and make the price on LTC explode. But as i said that is just my dream scenario. It feels like there is not that much to loose giving it a shot anyway ? I wont loose that much on selling the gpus later o either.

I already have a Asic rig mining BTC at home and i wont buy more Asic stuff regarding to the rocketing difficulty level. I had an KNC order on four KNC jupiters but choosed to refund it. Now i am investing the money in 50/50 BTC/LTC. So starting a LTC rig up feels right at the moment.

Am i the only one having hopes on LTC in the future ?

meta.p02

full member

Activity: 196

Merit: 100

http://ltc.kattare.com/calc.php

If you mine LTC at 2.6 MH/s and 850W (I don't know the exact figures, but they should be in this range) and at 1000 difficulty, you'll earn $140 a month. If you go to multipool.us, you should get a bit better (set auto cashout, auto sell), but probably not by much.

The payback time for this should be less than 1 year, unless the scrypt FPGA boards come out quickly, in which case you should sell.

EfterlysT

full member

Activity: 425

Merit: 109

I am thinking about setting up a GPU rig for mining FTC or LTC. All cryptos went to hell when China put BTC to the skies but now it seems like everything have stabilized a bit.
I have Mobo, cpus, ram and psu laying around already, all i need is gpu:s. I have an offer on 4x HD 7950 3Gb for around 930usd. I can probably sell them off for about the same price later on if i close the rig down.

So, what does people say about this ? GPU mining still have some profit to be made ?
I pay 0.11usd/kwh elecricity.

I need some advice here.

Thanks.

Topic: Any profit left in Altcoin ? Setting up GPU rig. (Read 917 times)