LiteCoin Mining

[Gaiseric]

Originally Posted by utekineir

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

Ive been thinking about building a gaming desktop, would that be something that would be suitable?

[Luis_GT]

Originally Posted by Gaiseric

Ive been thinking about building a gaming desktop, would that be something that would be suitable?

yes

[Luis_GT]

Originally Posted by Gaiseric

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

A miner, for scrypt coins, that would be CGminer 3.7.2

If you plan on mining litecoins, you need a litecoin wallet, if you plan on doge a doge wallet, etc. etc.

My recommendation is to get a Bitcoin wallet, and mine on waffle pool with CGminer. It's straight forward really.

But you need a computer with a good set of AMD GPUs, preferably 280Xs as they have the best hash/$

[utekineir]

Originally Posted by Luis_GT

But you need a computer with a good set of AMD GPUs, preferably 280Xs as they have the best hash/$

@retail,

if you're paying markup 280x isn't necessarily best bang for buck

[Luis_GT]

Originally Posted by utekineir

@retail,

if you're paying markup 280x isn't necessarily best bang for buck

True!

But then again, even the 270x's have been marked up to over 300 bucks...

[Gaiseric]

My current laptop is well... shit. Should I just start mining on it to get an idea of how its done or will it not even work, the laptop is about 3 years old and It doesnt have a dedicated graphics card. The gaming rig is about a month or 2 away.

[Luis_GT]

Originally Posted by Gaiseric

My current laptop is well... shit. Should I just start mining on it to get an idea of how its done or will it not even work, the laptop is about 3 years old and It doesnt have a dedicated graphics card. The gaming rig is about a month or 2 away.

Nope, you won't be able to, you could try mining Primecoin, but even that in a 3yr old laptop is worthless...

[utekineir]

Originally Posted by Luis_GT

True!

But then again, even the 270x's have been marked up to over 300 bucks...

$250 at best buy, i got 5 there the other day, the previous 8 i price matched to $225, unfortunately theres nobody left to price match to, thinking about getting another 12 and setting up 2 more 6 card rigs.

think 4 1000 watt systems is all i dare run in a house with a 100 amp panel, electric stove, water heater and dryer

[Gaiseric]

Originally Posted by Luis_GT

Nope, you won't be able to, you could try mining Primecoin, but even that in a 3yr old laptop is worthless...

yea I figured that would be the case when you posted 400$ amd units lol.

[Luis_GT]

Originally Posted by utekineir

$250 at best buy, i got 5 there the other day, the other 8 i price matched to $225, unfortunately theres nobody left to price match to, thinking about getting another 12 and setting up 2 more 6 card rigs.

think 4 1000 watt systems is all i dare run in a house with a 100 amp panel, electric stove, water heater and dryer

Wishing I had bought 3 270Xs when they where $229 on tiger direct... missed opportunity...

[Gaiseric]

Originally Posted by utekineir

$250 at best buy, i got 5 there the other day, the other 8 i price matched to $225, unfortunately theres nobody left to price match to, thinking about getting another 12 and setting up 2 more 6 card rigs.

think 4 1000 watt systems is all i dare run in a house with a 100 amp panel, electric stove, water heater and dryer

Thats quite a large investment, how big is the return? Short term 1 month estimate?

[ayau]

Originally Posted by utekineir

$250 at best buy, i got 5 there the other day, the previous 8 i price matched to $225, unfortunately theres nobody left to price match to, thinking about getting another 12 and setting up 2 more 6 card rigs.

think 4 1000 watt systems is all i dare run in a house with a 100 amp panel, electric stove, water heater and dryer

Even though the 270x has slightly better hash/$, you'll end up building more rigs just get to the same hash rate as a rig with 280x/290/290x. Each rig means you'll need to buy RAM, CPU, and motherboard at a minimum. Haven't done the exact math, but it could end up being a wash, in which case, I'd rather have less physical rigs.

[utekineir]

Originally Posted by Gaiseric

Thats quite a large investment, how big is the return? Short term 1 month estimate?

I'm averaging a rate that should provide a payoff window of 3-4 months assuming the current returns are maintained.

I have not spent any money that jeopardizes home or family wellbeing or would affect life overall if it were to go up in smoke, far as i'm concerned its no different than having bought some stocks. Its also adding a lot of heat to the house, i was paying $600+ a month on that alone.

Size of investment is irrelevant to the payoff window assuming proper scaling.

[ayau]

In some ways, I feel like it's safer than stocks. If the value of bitcoins drops to $0 USD, you still have the hardware that you could sell for probably 70% of what you paid for. If the stock price drops to $0 USD, you have nothing.

On the other hand, bitcoins seem pretty volatile than stocks. Either way, you should be willing to lose all of it if you want to get into this.