The bitcoin route would not be recommended because the scale of Asic deployment is only growing. Adjustments are in the neighborhood of 20-30% every difficulty readjustment, and while this cannot go on forever, the amount of Asics "in the pipeline" dictates this will continue for at least some time to come. This means (to me anyway) that GPU mining for lightcoin is the right answer for the long term. One thing to consider is that you can probably reduce your entry cost (or increase your hashing capacity for the same investment if you find someone who mined bitcoins that is getting out of GPU mining. You should be able to get GPUs for a lot less than new prices. I know I let my GPus go fairly inexpensively, because I didn't want to bother with litecoins, I just stuck with Asics (FOR BTC, not to exchange with anything)
I wouldn't rely on an exchange of currency, because whatever advantage one currency has over the other, market forces will equalize it soon enough, and you cannot generate a SIGNIFICANT amount quickly enough to take advantage of inequalities in time, especially if you are starting from scratch.
Short answer (ASIC for BTC, GPU mining for LTC.)
Topic: Using ASIC to mine BTC convert it to Litecoin, a better way to get Litecoin? (Read 1644 times)
September 20, 2013, 07:41:13 AM
September 20, 2013, 07:05:20 AM
I have been thinking, if I have £2000 (US$ 3213) to either buy 5 x ASICMiner Blades to mine Bitcoin, or build a Litecoin Mining Rig using 7 GPUs (Which cost about the same amount of money)
What if, I use ASIC mining BTC and then do a currency exchange for some of the BTC to LTC (So I can mine the best of both world). Would I get more LTC this way using the same amount of time and money?
5 x ASICMiner Blades should use less electricity than 7 GPUs right? Also ASIC is faster in hashing then GPUs?
Or if I really want to have some LTC, I should just build the Mining Rig with 7 GPUs, because I might get more Litecoin this way?
I am not good with maths that is why I need to ask about this and hope some members can enlighten me.
Thanks
Dragonkid
What if, I use ASIC mining BTC and then do a currency exchange for some of the BTC to LTC (So I can mine the best of both world). Would I get more LTC this way using the same amount of time and money?
5 x ASICMiner Blades should use less electricity than 7 GPUs right? Also ASIC is faster in hashing then GPUs?
Or if I really want to have some LTC, I should just build the Mining Rig with 7 GPUs, because I might get more Litecoin this way?
I am not good with maths that is why I need to ask about this and hope some members can enlighten me.
Thanks
Dragonkid
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