Post
Topic
Board Beginners & Help
Re: As a newbie, is mining worth the effort?
by
sweeppicking
on 17/04/2013, 22:57:58 UTC
I wouldn't mine BTC in the case of only having access to a video card / cpu for mining. If you really want to mine, though, there are other currencies such as Litecoin (LTC) that offer more fulfilling mining opportunities for the average person.

This is what I don't understand. What do you mean by "fulfilling"? Shouldn't it be a matter of net profit? How much you make in your pocket at the end of the month, quarter, year?
Please, enlighten me, how much money will I be making per quarter in Litecoin vs Bitcoin?

Since everybody's mileage may vary, I would suggest using a profitability calculator. There are plenty of open ones available here on the forum, as well as ones like the one on bitcoinx. There are also calculators that compare different crypto currencies, etc.

yes, for example here
http://allchains.info/calc.html

I dont mine because while with my 1 GPU i could be profitable about 1 dollar per day, it is not worth the time to monitor it or potential failure of some component...



Since Zealot seems to be concerned with profit, here's a personal example in favor of mining LTC over BTC right now using the calculator quoted above assuming no cost for electricity and no fees:

GTX 570
BTC:
Hashrate: ~140 MH/s
Coin Per Day: .008 BTC
Profit @ Current Price per day: $0.726

LTC:
Hashrate: 220 kH/s (0.220 MH/s)
Coin Per Day: .613012 LTC
Profit @ Current Price per day: $1.554

As you can see, mining LTC with a GPU is more profitable than BTC (right now at current market prices)


Days behind when LTC was like 4.5 USD you buy a GPU and pay it by mining for one week u.u