Quote from: thedonvon on April 09, 2013, 02:12:44 AM

Quote from: HackneyB on April 09, 2013, 02:08:20 AM

Quote from: mrchu001 on April 09, 2013, 01:12:48 AM

Quote from: RambJoe on April 09, 2013, 01:08:51 AM

You have to find a block, so when you are mining yourself, you have to wait till it finds a whole block, you don't get anything till you find the block.

Wait, so does that mean you are constantly finding partials? Or does it mean that it just takes a long time to compute the block.

Sorry for the newbie questions, I've been trying to read as much as I can.

Basically if you were mining with that card a year ago things would be different. Today it may take you months or years to get a block.
Look at it this way - there is a pool which totals 1 TeraHash/second. It takes that pool 12 hours to get a block and get that 25BTC reward. Your card pulls 300MegaHashes/second and is basically 3000 times slower than everyone combined in that pool. So in the long run you will need 36,000 hours to find a solution to a block which is 4 years.

My numbers are all off by a bit but its the magnitude that matters - you will have to wait years without joining a pool.

Mining bitcoin yes this would be correct. LTC difficulty is much lower and your numbers are definitely off...with that said i do agree it would take a very long time to get your own block. Pool mining is definitely the way to go.

Thanks I missed that point. Doesn't "the market" factor that in and make LTC cheaper by exactly the factor that it is easier to mine?

HackneyB

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