LiteCoin Mining

[OrbitalEllipses]

You guys do know BTC is going to tank real hard in these next few weeks if not days, right?

[utekineir]

Originally Posted by OrbitalEllipses

You guys do know BTC is going to tank real hard in these next few weeks if not days, right?

Seriously though. Everything I have bought has been local with a 30 day or more return policy and math done for roughly a 3-4 month payoff window. At about 3 weeks in the middle of everything shitting the bed, I'm still on pace. The end of the return policy has net profits still close to break even after selling used hardware.

Also I could use the deduction if it were to go south.


That and mtgox by most accounts was a cancer. If the net result of the last couple weeks is a stronger exchange format. That's a good thing. I was actually expecting a bigger drop today after seeing gox closed up shop and the media coverage it would produce.

[ayau]

Originally Posted by utekineir

Seriously though. Everything I have bought has been local with a 30 day or more return policy and math done for roughly a 3 month payoff window. The end of the return policy has net profits still close to break even after selling used hardware.

Also I could use the deduction if it were to go south.


That and mtgox by most accounts was a cancer. If the net result of the last couple weeks is a stronger exchange format. That's a good thing.

How are you filing it as a loss on your taxes?

[utekineir]

Originally Posted by ayau

How are you filing it as a loss on your taxes?

You misread, assuming the whole thing were to shit the bed and be abandoned I would have hardware costs invested at a loss.

I have a different business that is the majority of my taxes, I would file this as a separate schedule c bringing my net income down.

[ayau]

Originally Posted by utekineir

You misread, assuming the whole thing were to shit the bed and be abandoned I would have hardware costs invested at a loss.

I have a different business that is the majority of my taxes, I would file this as a separate schedule c bringing my net income down.

Your 'business' requires 5k worth of GPUs to run? lol

[Luis_GT]

Originally Posted by OrbitalEllipses

You guys do know BTC is going to tank real hard in these next few weeks if not days, right?

Creating a great moment to buy as much bitcoins as possible since it will be the first time in months since BTC dropped below $500

Also, this is my song

[ame]http://youtu.be/NG1qooBzE2w[/ame]

[utekineir]

Originally Posted by ayau

Your 'business' requires 5k worth of GPUs to run? lol

Imamininginthediningroomtopissoffthegf Enterprises does

[Guff]

Originally Posted by ayau

I'm getting about 0.012-0.015 mining at waffles with about the same hash rate (2 x 280x). How do you even get 0.02?

Link to the doge pool you're using?

I'm in NetCodePool for Doge, and I've been making consistently more than that. Usually about 21000 Doge/week, which is roughly 0.039 BTC.

[Luis_GT]

Originally Posted by Guff

I'm in NetCodePool for Doge, and I've been making consistently more than that. Usually about 21000 Doge/week, which is roughly 0.039 BTC.

0.039 a week is less than .02 a day last time I checked...

[ayau]

Originally Posted by Luis_GT

0.039 a week is less than .02 a day last time I checked...

LOL, just double checked the math. I thought @Guff was making 0.039 BTC PER DAY on Doge. GTFO <3

[Gaiseric]

can you mine on any computer or laptop? Just to start off? Ive never heard of this before right now and Im confused reading the stuff on google... I guess im not as computer savvy as I thought I was.

[Luis_GT]

Originally Posted by Gaiseric

can you mine on any computer or laptop? Just to start off? Ive never heard of this before right now and Im confused reading the stuff on google... I guess im not as computer savvy as I thought I was.

Read this,

http://www.overclockers.com/forums/s...d.php?t=741591

there are certain coins that can be mined with CPU, are they profitable, eehhh... depends.

[utekineir]

Originally Posted by Gaiseric

can you mine on any computer or laptop? Just to start off? Ive never heard of this before right now and Im confused reading the stuff on google... I guess im not as computer savvy as I thought I was.

mining with a laptop isn't a great idea, they aren't exactly meant for 100% load on cpu or gpu 24/7,

hell even desktop parts really aren't, but at least the cooling is leagues better and when one component dies it can be replaced

[Gaiseric]

Originally Posted by Luis_GT

Read this,

http://www.overclockers.com/forums/s...d.php?t=741591

there are certain coins that can be mined with CPU, are they profitable, eehhh... depends.

I was reading that, I had opened that website after seeing your post on the first page, still pretty confused tho. What would you recommend mining and what would I have to download.

It says i need a wallet depending on what I chose to mine and then I need a miner? Then how does one join a pool