apparently don't live in Alaska
Up here,
Up here,
You in baltic region or in north america?
Topic: [LTC] Seems GPU mining is getting difficult (Read 4544 times)
You in baltic region or in north america?
Well that's why you have other alts. Go mine them if it starts being unprofitable for you.
LTC got alot more difficult. On a 7950 I can get 620kh and I expect some expert could get nearer to 700.
Problem is you are always going to get squeezed by those who will operate a machine anyway or the Alaska type scenario. some are on solar power I guess, always something. My machine is on graphing stock quotes most days in any case
Thats a natural market, it tends towards competition and squeezing out the best efficiency
Problem is you are always going to get squeezed by those who will operate a machine anyway or the Alaska type scenario. some are on solar power I guess, always something. My machine is on graphing stock quotes most days in any case
Thats a natural market, it tends towards competition and squeezing out the best efficiency
Quote
But this is all up to the speculators who play the market.
Speculators do not determine a market, they are most active in transition but its buyer and sellers who determine the start and end I posted this in the mining subforum earlier...
You guys complaining about GPU mining not being profitable apparently don't live in Alaska
Up here, GPU mining is a godsend. I'll explain why:
1 gallon of #1 heating fuel weighs ~3.100kg and where I live costs roughly $5.85.
The higher heating value of #1 HHF is around 4.64x10^7 J/kg.
So, that gallon of #1 HHF can ideally yield 143840000 Joules of energy, equivalent to 39.96 kWh.
Power here costs $0.195 / kWh. So that $5.85 gallon of fuel has the same amount of heat as you could produce with about $7.79 of electricity.
You can see where I'm going with this.
Say I have a 1600W mining rig that pulls ~ 3.6Mh/s mining LTC: this rig draws about $7.80 worth of power per 24 hours, producing about the same amount of heat in the process as a gallon of fuel. This puts my adjusted power cost for the rig at $1.95 per 24h.
So, given a conservative LTC price of $1.95/ea, this 3.6Mh rig only needs to be able to produce slightly over 1 LTC per day to be profitable.
That should be about the time the difficulty hits ~4000.
And I sincerely doubt that most other LTC miners will keep mining at that point unless the price of an LTC goes up.
In a given winter (6 months) a single family home up here will use 600 gallons of heating fuel, or $3500. This can be almost entirely replaced by around 5.5kW of GPUs (12.5 Mh or so). In 6 months at a median difficulty of 2000 that will cost me around $4600 and net me 1100LTC. Even at $2/LTC, that's almost $1000 savings over heating fuel.
You guys complaining about GPU mining not being profitable apparently don't live in Alaska
Up here, GPU mining is a godsend. I'll explain why:
1 gallon of #1 heating fuel weighs ~3.100kg and where I live costs roughly $5.85.
The higher heating value of #1 HHF is around 4.64x10^7 J/kg.
So, that gallon of #1 HHF can ideally yield 143840000 Joules of energy, equivalent to 39.96 kWh.
Power here costs $0.195 / kWh. So that $5.85 gallon of fuel has the same amount of heat as you could produce with about $7.79 of electricity.
You can see where I'm going with this.
Say I have a 1600W mining rig that pulls ~ 3.6Mh/s mining LTC: this rig draws about $7.80 worth of power per 24 hours, producing about the same amount of heat in the process as a gallon of fuel. This puts my adjusted power cost for the rig at $1.95 per 24h.
So, given a conservative LTC price of $1.95/ea, this 3.6Mh rig only needs to be able to produce slightly over 1 LTC per day to be profitable.
That should be about the time the difficulty hits ~4000.
And I sincerely doubt that most other LTC miners will keep mining at that point unless the price of an LTC goes up.
In a given winter (6 months) a single family home up here will use 600 gallons of heating fuel, or $3500. This can be almost entirely replaced by around 5.5kW of GPUs (12.5 Mh or so). In 6 months at a median difficulty of 2000 that will cost me around $4600 and net me 1100LTC. Even at $2/LTC, that's almost $1000 savings over heating fuel.
You in baltic region or in north america? Wow your electricity is cheap there!
I posted this in the mining subforum earlier...
You guys complaining about GPU mining not being profitable apparently don't live in Alaska
Up here, GPU mining is a godsend. I'll explain why:
1 gallon of #1 heating fuel weighs ~3.100kg and where I live costs roughly $5.85.
The higher heating value of #1 HHF is around 4.64x10^7 J/kg.
So, that gallon of #1 HHF can ideally yield 143840000 Joules of energy, equivalent to 39.96 kWh.
Power here costs $0.195 / kWh. So that $5.85 gallon of fuel has the same amount of heat as you could produce with about $7.79 of electricity.
You can see where I'm going with this.
Say I have a 1600W mining rig that pulls ~ 3.6Mh/s mining LTC: this rig draws about $7.80 worth of power per 24 hours, producing about the same amount of heat in the process as a gallon of fuel. This puts my adjusted power cost for the rig at $1.95 per 24h.
So, given a conservative LTC price of $1.95/ea, this 3.6Mh rig only needs to be able to produce slightly over 1 LTC per day to be profitable.
That should be about the time the difficulty hits ~4000.
And I sincerely doubt that most other LTC miners will keep mining at that point unless the price of an LTC goes up.
In a given winter (6 months) a single family home up here will use 600 gallons of heating fuel, or $3500. This can be almost entirely replaced by around 5.5kW of GPUs (12.5 Mh or so). In 6 months at a median difficulty of 2000 that will cost me around $4600 and net me 1100LTC. Even at $2/LTC, that's almost $1000 savings over heating fuel.
You guys complaining about GPU mining not being profitable apparently don't live in Alaska
Up here, GPU mining is a godsend. I'll explain why:
1 gallon of #1 heating fuel weighs ~3.100kg and where I live costs roughly $5.85.
The higher heating value of #1 HHF is around 4.64x10^7 J/kg.
So, that gallon of #1 HHF can ideally yield 143840000 Joules of energy, equivalent to 39.96 kWh.
Power here costs $0.195 / kWh. So that $5.85 gallon of fuel has the same amount of heat as you could produce with about $7.79 of electricity.
You can see where I'm going with this.
Say I have a 1600W mining rig that pulls ~ 3.6Mh/s mining LTC: this rig draws about $7.80 worth of power per 24 hours, producing about the same amount of heat in the process as a gallon of fuel. This puts my adjusted power cost for the rig at $1.95 per 24h.
So, given a conservative LTC price of $1.95/ea, this 3.6Mh rig only needs to be able to produce slightly over 1 LTC per day to be profitable.
That should be about the time the difficulty hits ~4000.
And I sincerely doubt that most other LTC miners will keep mining at that point unless the price of an LTC goes up.
In a given winter (6 months) a single family home up here will use 600 gallons of heating fuel, or $3500. This can be almost entirely replaced by around 5.5kW of GPUs (12.5 Mh or so). In 6 months at a median difficulty of 2000 that will cost me around $4600 and net me 1100LTC. Even at $2/LTC, that's almost $1000 savings over heating fuel.
This is what I like to call "The miner squeeze".
Bitcoin had this during 2011. Survival of the fittest.
I suspect you will see Litecoin take the bitcoin patter in this respect. Long drawn out consolidations and then spikes in price. Seems to be the norm in the crypto world.
Bitcoin had this during 2011. Survival of the fittest.
I suspect you will see Litecoin take the bitcoin patter in this respect. Long drawn out consolidations and then spikes in price. Seems to be the norm in the crypto world.
So, what's the right move?
Anyone else mine for the fun of it? I'm kind of addicted to setting up hardware/software...
This is what I like to call "The miner squeeze".
Bitcoin had this during 2011. Survival of the fittest.
I suspect you will see Litecoin take the bitcoin patter in this respect. Long drawn out consolidations and then spikes in price. Seems to be the norm in the crypto world.
Bitcoin had this during 2011. Survival of the fittest.
I suspect you will see Litecoin take the bitcoin patter in this respect. Long drawn out consolidations and then spikes in price. Seems to be the norm in the crypto world.
I guess there is a future for PCI-E multicore or parallel computing in this case. Where viability is 70GFLOPS=1Watt power. I think soon it will hit the scrypt coins.
You guys should factor your cities utility tax anda ll the surcharges. The rate in california for me is 0.0873 kw/h but after all fees and tax, its actually 0.175 kw/h.
About 30-60% of mining revenue is going to your power bill whereever you are.
About 30-60% of mining revenue is going to your power bill whereever you are.
mine is $0.08 kw/h after all fees ect. Its 0.045 per kw/h for the usage and 0.035 per kw/h for delivery charge/tax/fees.
I'm so jelly. Mine is $0.1825 kw/h
You guys should factor your cities utility tax anda ll the surcharges. The rate in california for me is 0.0873 kw/h but after all fees and tax, its actually 0.175 kw/h.
About 30-60% of mining revenue is going to your power bill whereever you are.
About 30-60% of mining revenue is going to your power bill whereever you are.
mine is $0.08 kw/h after all fees ect. Its 0.045 per kw/h for the usage and 0.035 per kw/h for delivery charge/tax/fees.
You guys should factor your cities utility tax anda ll the surcharges. The rate in california for me is 0.0873 kw/h but after all fees and tax, its actually 0.175 kw/h.
About 30-60% of mining revenue is going to your power bill whereever you are.
About 30-60% of mining revenue is going to your power bill whereever you are.
I invested a lot in mining equipments, now i dont have money to buy. I should mine something.
You should then sell all your equipment and reinvest the money! (Or just keep on doing what your doing and see how far it gets you!)
Price is really not reflecting cost of electricity at this point IMO... LTC is low on market sentiment. It will rise long.
I currently pay $0.08 per kwh flat rate. It doesn't change.
I have 4,000kh/s and mine about 3.5-4btc worth of alt coins per month.
I mine on middlecoin pool, but If I mined LTC my earnings wouldnt be much lower.
My power bill is only $100 over what it would be not running the rigs.
I know this by comparing my bill to my neighbor in the apartment next door.
So 3.5btc ~ $400 - $100 power = $300 profit per month.
Difficulty still has a way to go b4 I stop mining.
I picked up 2 more 7970s so I'm now up to 5,400kh/s so I should be near $400 profit a month.
Off topic but I supplement my mining income by reinvesting most of my profits back into btct.co, I make more and more in dividends every day. I'm at about 0.012btc dividends per day and have about 0.7btc invested. I plan to invest alot more.
I have 4,000kh/s and mine about 3.5-4btc worth of alt coins per month.
I mine on middlecoin pool, but If I mined LTC my earnings wouldnt be much lower.
My power bill is only $100 over what it would be not running the rigs.
I know this by comparing my bill to my neighbor in the apartment next door.
So 3.5btc ~ $400 - $100 power = $300 profit per month.
Difficulty still has a way to go b4 I stop mining.
I picked up 2 more 7970s so I'm now up to 5,400kh/s so I should be near $400 profit a month.
Off topic but I supplement my mining income by reinvesting most of my profits back into btct.co, I make more and more in dividends every day. I'm at about 0.012btc dividends per day and have about 0.7btc invested. I plan to invest alot more.
I invested a lot in mining equipments, now i dont have money to buy. I should mine something.
what if we can't mine BTC nor LTC? what should we do ?
Move to country with lower electricity cost / sell gpu / speculate on new coins and mine them/...
How about buying? If you want to make money with crypto coins trying buying BTC or LTC. Right now it seems like a better investment then mining them. You could also try selling a service or product.
If you get caught up trying to buy one of the crap coins out there you might be the last one holding the bag. Most are just a silly trap for all the newbies who come here looking to make a quick buck.
what if we can't mine BTC nor LTC? what should we do ?
Move to country with lower electricity cost / sell gpu / speculate on new coins and mine them/...
try to mine more profitable coins, there are many other coins that profity is 200% of LTC.
and ltc will certanly go up with price.
also look that btc is going up and will go up
and ltc will certanly go up with price.
also look that btc is going up and will go up
what coins?
most of them are temporary profitable , not for always
Not only temporary....but ponzi scheme. Get new people in so original starters get profit. What a scam.....
But yes, ltc difficulty is definately rising faster than profitability. ASICS are pushing BTC miners over to LTC. Hopefully LTC prices will rise to make up miner profits. If not, BTC may be the only true coin to mine if you can get a hold of decent ASICs.
what if we can't mine BTC nor LTC? what should we do ?
try to mine more profitable coins, there are many other coins that profity is 200% of LTC.
and ltc will certanly go up with price.
also look that btc is going up and will go up
and ltc will certanly go up with price.
also look that btc is going up and will go up
what coins?
most of them are temporary profitable , not for always
Not only temporary....but ponzi scheme. Get new people in so original starters get profit. What a scam.....
But yes, ltc difficulty is definately rising faster than profitability. ASICS are pushing BTC miners over to LTC. Hopefully LTC prices will rise to make up miner profits. If not, BTC may be the only true coin to mine if you can get a hold of decent ASICs.
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