Bitcoin vs Litecoin mining, earnings relation (very strange)

aesma

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Quote from: igorr on January 17, 2014, 10:18:59 AM

Quote from: ljudotina on January 17, 2014, 10:16:03 AM

Mining dificulty and crypto price are not tied as much as you would like to think. There are MANY other reasons why BTC is more valuable (for now) than LTC.

The main reason is artificially raising prices and popularity of manufacturer BTC mining hardware !

The ratio betwen BTC and LTC mining, of Invested money / Earned Money is about 5500x
0.22 cents per 1Gh at 24h / 0.004 cents per 1Kh at 24H.

The ratio betwen bitcoin and litecoin, Invested money / Earned Money should be 1:1, not 1:5500

The main reason is that some people use bitcoins for real transactions, while nobody uses LTC.

ljudotina

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Quote from: El Dude on February 10, 2014, 04:23:48 AM

Quote from: ljudotina on February 10, 2014, 03:46:50 AM

1) Why would anyone mine LTC when there are way more profitable SCRYPT coins available. Mine them and than buy LTC if your so hot about LTC
2) After you'r done mining, you still have Graphic card which you can use for gaming or SELL. After you'r done with BTC mining you can wipe your ...you know what... with ASIC

Because people don't wanna be left holding the bag when that SCRYPT clone coin collapses.

Which can happen only if they are really lazy and / or stupid. You can resell "that clone" to BTC or LTC few time a day or set it up automaticly to execute once a day. If you loose, you loose 1 day of mining. Even those autoswitching, auto btc converting pools earn more than just mining LTC, so there is really no excause whatsoever.

igorr

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Quote from: ahmedjadoon on February 10, 2014, 04:37:37 AM

This relation is really strange.Thanks for info

I just warning at the time.

and check this,
the price on BTC-e 102 usd

Check,

View Screen Captu

ahmedjadoon

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This relation is really strange.Thanks for info

Lauda

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Terminated.

Quote from: El Dude on February 10, 2014, 04:23:48 AM

Quote from: ljudotina on February 10, 2014, 03:46:50 AM

1) Why would anyone mine LTC when there are way more profitable SCRYPT coins available. Mine them and than buy LTC if your so hot about LTC
2) After you'r done mining, you still have Graphic card which you can use for gaming or SELL. After you'r done with BTC mining you can wipe your ...you know what... with ASIC

Because people don't wanna be left holding the bag when that SCRYPT clone coin collapses.

High risk, high profit.
Whoever had doge before the 2000% price increase in 1 day earned quite a lot. This isn't for weak hands.
On the other hand you can set auto payout and auto sell and get rid of the altcoin quickly.

El Dude

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Quote from: ljudotina on February 10, 2014, 03:46:50 AM

1) Why would anyone mine LTC when there are way more profitable SCRYPT coins available. Mine them and than buy LTC if your so hot about LTC
2) After you'r done mining, you still have Graphic card which you can use for gaming or SELL. After you'r done with BTC mining you can wipe your ...you know what... with ASIC

Because people don't wanna be left holding the bag when that SCRYPT clone coin collapses.

ljudotina

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1) Why would anyone mine LTC when there are way more profitable SCRYPT coins available. Mine them and than buy LTC if your so hot about LTC
2) After you'r done mining, you still have Graphic card which you can use for gaming or SELL. After you'r done with BTC mining you can wipe your ...you know what... with ASIC

Lauda

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Activity: 2674

Merit: 2965

Terminated.

Quote from: aesma on February 10, 2014, 03:22:20 AM

Quote from: pungopete468 on January 16, 2014, 05:46:32 PM

I have 3 R9 280x cards still back ordered from November.

The cards that are trickling in are only allowing the network to increase incrementally...

Interesting. Here in France you can get any card you want (that are still being manufactured, 7950 are more difficult but still available), and more importantly, at the normal prices, and at reputable shops. For example 240€ for a 280X and 330€ for a R9 290 (these prices includes 20% VAT).

That is quite cheap for Europe, just compare prices with amazon.at. You think you can get any card but that is incorrect. I saw r9 270x cards listed on a local site by many shops. I've contacted more than 5 to find out that they are out of stock..
Mining litecoin is higher, correct, the earnings from mining bitcoin should be higher, but sadly they are not.

aesma

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Quote from: pungopete468 on January 16, 2014, 05:46:32 PM

I have 3 R9 280x cards still back ordered from November.

The cards that are trickling in are only allowing the network to increase incrementally...

Interesting. Here in France you can get any card you want (that are still being manufactured, 7950 are more difficult but still available), and more importantly, at the normal prices, and at reputable shops. For example 240€ for a 280X and 330€ for a R9 290 (these prices includes 20% VAT).

igorr

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Quote from: ljudotina on January 17, 2014, 10:16:03 AM

Mining dificulty and crypto price are not tied as much as you would like to think. There are MANY other reasons why BTC is more valuable (for now) than LTC.

The main reason is artificially raising prices and popularity of manufacturer BTC mining hardware !

The ratio betwen BTC and LTC mining, of Invested money / Earned Money is about 5500x
0.22 cents per 1Gh at 24h / 0.004 cents per 1Kh at 24H.

The ratio betwen bitcoin and litecoin, Invested money / Earned Money should be 1:1, not 1:5500

ljudotina

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Mining dificulty and crypto price are not tied as much as you would like to think. There are MANY other reasons why BTC is more valuable (for now) than LTC.

mskryxz

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I got into mining litecoin early early of 2013.

I was making up to 4 ltc's per day with my 5 computers (running a combo of 7950s, 7970s, 6950s, and 1 5850)

now im making just under 1 ltc per day on average or about $25 per day just leaving them on.

I got very lucky and timed it right, I converted all of my LTC into BTC's while it was 3.5-4% (or around $40-$50 per ltc)

Now it's stuck under 3% last i checked.

igorr

sr. member

Activity: 406

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Now,
We have for Bitcoin, mining factor 22 cents per 1Gh/s at 24h and
Litecoin mining factor 0.004 cents per 1Kh/s at 24h !

Because we have anomaly,
LTC mining hardware production cost "Radeon HD 7950"
is much higher than Butterfly Labs 28nm PCI card Huh

http://www.butterflylabs.com/monarch/

pungopete468

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I got into Litecoin in November when it was $9 I wish I would have just bought at that price. Instead I invested in mining equipment... 3 of the 6 graphics cards I ordered are still back ordered.

El Dude

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Quote from: Bitcoin_Evolution on January 16, 2014, 07:13:51 PM

Since i startes to mine litecoin in the begining of December its difficulty raised almost 300%. In just two months.

ya and the price has also gone up.

Bitcoin_Evolution

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Since i startes to mine litecoin in the begining of December its difficulty raised almost 300%. In just two months.

El Dude

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good info thanks.

bluemeanie1

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bluemeanie

the problem with Litecoin is that it won't prevent the monopolization of mining, just raise the barrier to capitalization.

LiteCoinGuy

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In Satoshi I Trust

yeah, Litecoin-Mining is pretty good for a "normal" man with not much cash.

Litecoin is the silver of the cryptoworld.

subcoin

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OP operates under the assumption that price derived strictly from difficulty. It is not.

There are many factors that influence the price:
- popularity / adaptation rates
- government regulations
- market conditions
- security conditions
- political climate

IMO, difficulty is not even in the top 3.

Topic: Bitcoin vs Litecoin mining, earnings relation (very strange) (Read 3309 times)