Should i start litecoin mining?

[dhendry71]

im getting ready to buy gpu....i was going to get a 770 until i realized what coin mining was and the how much potential there is. now im considering getting a 280x. i have the money to spare. i know how stocks work etc. so i know how selling them works. should i do it?

[Freaky_spider]

nope, you (probably) wont make profit...

[Fred Castellum]

If you know how stocks work then you should also know the profit margins you have to make to actually make money. Your better off mining dogecoins than LTC at the moment. 

[dizmo]

How much do you pay for power?
How much is the 280x?

Mining can be profitable, and it can also not.

[DoubleY]

nope, you (probably) wont make profit...

You almost always make a profit. Maybe not mining one coin, but imagine of the people who started mining BTC before ASICS where a thing. If they still had the cards and they were mining LTC right now, they would have made a HUGE profit.

 

You don't turn a profit immediately, but you do. I have only been mining for about 3 1/2 months and I have already made $4,000 with my $6,000 investment. It's just a matter of time

[dizmo]

You almost always make a profit. Maybe not mining one coin, but imagine of the people who started mining BTC before ASICS where a thing. If they still had the cards and they were mining LTC right now, they would have made a HUGE profit.

 

You don't turn a profit immediately, but you do. I have only been mining for about 3 1/2 months and I have already made $4,000 with my $6,000 investment. It's just a matter of time

You haven't really made anything yet. You're still $2,000 away from breaking even. You'll start "making" money in about 2 months.

Did you include the power costs in that $4000?

[DoubleY]

You haven't really made anything yet. You're still $2,000 away from breaking even. You'll start "making" money in about 2 months.

Did you include the power costs in that $4000?

If I sold all of my hardware, I would come out $1,500 ahead. And yes, power costs included. 

[Freaky_spider]

If I sold all of my hardware, I would come out $1,500 ahead. And yes, power costs included. 

yes but as your member title says, you have alot of hardware and they are AMD (i would assume) not NVIDIA...

[DoubleY]

yes but as your member title says, you have alot of hardware and they are AMD (i would assume) not NVIDIA...

4 750tis coming today

 

A single graphics card will still pay for itself in about 6 months. Maybe less depending on how much you mine

[dhendry71]

ill prob spend around 400 for a 280x and i do not pay for power

[Freaky_spider]

4 750tis coming today

 

A single graphics card will still pay for itself in about 6 months. Maybe less depending on how much you mine

for mining? isnt nVidia inferior for mining or has Maxwell changed that?

[DoubleY]

for mining? isnt nVidia inferior for mining or has Maxwell changed that?

Yep. For mining They use only 75watts and get like 300kh/s. MUCH better deal than the 270X or 280X etc...

[Freaky_spider]

Yep. For mining They use only 75watts and get like 300kh/s. MUCH better deal than the 270X or 280X etc...

forgot there effeciency is trough the roof, i mean no 6 pin connector,

 

i hope there are some passive ones on the way, i think this one can equally be good.

[Dallen49]

Yep. For mining They use only 75watts and get like 300kh/s. MUCH better deal than the 270X or 280X etc...

 

hmm do you think it would be profitable to buy an old computer off kijiji (under $20) throw in a 750ti and start mining?

[DoubleY]

hmm do you think it would be profitable to buy an old computer off kijiji (under $20) throw in a 750ti and start mining?

Probably. As long as it can supply enough power