Is it still worth mining litecoins?

[Dragon2hand]

As you can probably tell from the title, it is still worth mining lite coins? Also what mining gear would be profitable if its still worth it? Yes i watched Linus talking about the RIGGIT v9 but would the specs of the RIGGIT still be profitable in the mining?

 

THANKS IN ADVANCE

[DarrenP]

As you can probably tell from the title, it is still worth mining lite coins? Also what mining gear would be profitable if its still worth it? Yes i watched Linus talking about the RIGGIT v9 but would the specs of the RIGGIT still be profitable in the mining?

 

THANKS IN ADVANCE

It's not worth while anymore, unless you don't pay for electricity. 

[Dragon2hand]

Well... im moving soon and the price of electricity per KWH is ~6.5 fils/kWh. which accounts to 0.02 cents CND. 

[steffen_anywhere]

Maybe if you're mining on very efficient hardware (mobile) but that is generally a bad idea.

[AK0490]

Maybe if you're mining on very efficient hardware (mobile) but that is generally a bad idea.

WTF???

[piggykid1]

I can't really say it is it was kinda like bitcoin you had to jump on the boat early, unless your a multi-millionaire and have the money to buy a nice rig for mining 

[EyePlayGames]

not worth it unless you want to make 5 cents a day

[AK0490]

HOLY BALLS!!! I trully feel sorry for anyone who ask questions on this forum, and I will be cutting off my contribution shortly. The amount of complete bullshit is just troubling. I can only imagine what some people come away with after visiting this place.

[ars2012]

For fun yes for $. Kinda. You won't be getting any type of ROI if you buy a system specific for mining. But since you have cheap electricity, you can buy a Scrypt Asic.

[steffen_anywhere]

WTF???

Electricity wise, you know.

So not a real solution.

[steffen_anywhere]

HOLY BALLS!!! I trully feel sorry for anyone who ask questions on this forum, and I will be cutting off my contribution shortly. The amount of complete bullshit is just troubling. I can only imagine what some people come away with after visiting this place.

What is your problem?

If someone says something wrong, please point it out and tell them why. What you're doing is pointless, nobody benefits.

[Mooshi]

HOLY BALLS!!! I trully feel sorry for anyone who ask questions on this forum, and I will be cutting off my contribution shortly. The amount of complete bullshit is just troubling. I can only imagine what some people come away with after visiting this place.

 

I guess the users who posted on LTT that regretted dropping so much on hardware and all the lot of used mining cards on ebay doesn't exist in your world, huh?

[helping]

It's still profitable, just don't go out and investing hardware to do it. If you have the hardware already, then go ahead and look into it. If not, I wouldn't bother. Your electricity is also pretty cheap.

 

You will have to mine smaller coins and convert into higher order coins. 

[RuecanOnRails]

I'm going to point out the elephant in the room here.

 

The Riggit V9 (or any version) is not a piece of mining equipment. It is a frame/test bench/open air "case". It does not include anything required, or used for mining. Save yourself some money, go to the local hardware store and pick up some aluminium bar and build a frame yourself. The ones used for window screens works well as it's rigged, light, easy to work with, and can be found cheap.

 

Outside of that, Litecoin mining on a GPU rig won't be profitable even with free electricity much longer with high tiered scrypt ASICs shipping out soon. There are other algorithms that can't be mined with current ASICs and GPU mining will work. The margins are small and building a GPU mining rig for nothing but profits will likely end with you getting burned. Mining is incentivized in such a way that it becomes a zero sum game; If you aren't interested in supporting the network you won't see any gains and your money is better spent purchasing the coins directly for future speculation, use, or trading.

[Dragon2hand]

I'm going to point out the elephant in the room here.

 

The Riggit V9 (or any version) is not a piece of mining equipment. It is a frame/test bench/open air "case". It does not include anything required, or used for mining. Save yourself some money, go to the local hardware store and pick up some aluminium bar and build a frame yourself. The ones used for window screens works well as it's rigged, light, easy to work with, and can be found cheap.

 

Outside of that, Litecoin mining on a GPU rig won't be profitable even with free electricity much longer with high tiered scrypt ASICs shipping out soon. There are other algorithms that can't be mined with current ASICs and GPU mining will work. The margins are small and building a GPU mining rig for nothing but profits will likely end with you getting burned. Mining is incentivized in such a way that it becomes a zero sum game; If you aren't interested in supporting the network you won't see any gains and your money is better spent purchasing the coins directly for future speculation, use, or trading.

Could you recommend some trustworthy distributor of these ASIC machines? i heard that butterfly labs is a bunch of BS. 

I'd like to thank everyone for their contribution to this thread

[EyePlayGames]

HOLY BALLS!!! I trully feel sorry for anyone who ask questions on this forum, and I will be cutting off my contribution shortly. The amount of complete bullshit is just troubling. I can only imagine what some people come away with after visiting this place.

excuse me?? whats bs in mining for these different online currencies... if u mined with a regular gpu you get almost no profit and it just wears out your hardware... even if u have a asic card dedicated to mining it costs ALOT of money and i dont even know how long it lasts you could just be throwing away money...

 

have you ever asked yourself how much you make from mining?? i would like to know how much if thats possible

[Bonsai99]

HOLY BALLS!!! I trully feel sorry for anyone who ask questions on this forum, and I will be cutting off my contribution shortly. The amount of complete bullshit is just troubling. I can only imagine what some people come away with after visiting this place.

Because it's obviously worthwhile to buy $300+ GPU at this point to make 50 cents per day...

http://www.coinwarz.com/cryptocurrency

[helping]

excuse me?? whats bs in mining for these different online currencies... if u mined with a regular gpu you get almost no profit and it just wears out your hardware... even if u have a asic card dedicated to mining it costs ALOT of money and i dont even know how long it lasts you could just be throwing away money...

 

have you ever asked yourself how much you make from mining?? i would like to know how much if thats possible

Because it's obviously worthwhile to buy $300+ GPU at this point to make 50 cents per day...

http://www.coinwarz.com/cryptocurrency

 

You two are making assumptions and putting words in people's mouth.

 

It still makes cents if the conditions are met. 

 

Yes, that was a pun. 

[EyePlayGames]

You two are making assumptions and putting words in people's mouth.

 

It still makes cents if the conditions are met. 

 

Yes, that was a pun. 

 

he said if it was still "worth" mining coins.not much you can do with 50 cents or so

[AK0490]

Well put @helping. Nowhere did I say that you should buy anything new. Mining shouldn't be profitable. There I said it.  Is is? not for noobs. Do it for something you believe in, if you don't and are just here for free money then GTFO.

 

  As for what I make from mining. No, I don't worry about it in the least. Today I made twice what I "should have" on scrypt, while using half the power. And yes I was mining your mom. I am also fully aware that this place has turned me into an asshole.

 

 

 

TL:DR-- If you are interested in Crypto-Currencies,  ask away. Wait until @RuecanOnRails responds, read it and his past post on similar threads. Ignore all the other bullshit.

[DoubleY]

HOLY BALLS!!! I trully feel sorry for anyone who ask questions on this forum, and I will be cutting off my contribution shortly. The amount of complete bullshit is just troubling. I can only imagine what some people come away with after visiting this place.

Sad to see you be going soon. You're easily the most knowledgeable person when it comes to crypto currencies. 

 

excuse me?? whats bs in mining for these different online currencies... if u mined with a regular gpu you get almost no profit and it just wears out your hardware... even if u have a asic card dedicated to mining it costs ALOT of money and i dont even know how long it lasts you could just be throwing away money...

 

have you ever asked yourself how much you make from mining?? i would like to know how much if thats possible

Yes, I do ask myself. And do you know what the answer is? 

I've already made my money back. Anything from here on out is pure profit

 

I started mining about 7 months ago and a few weeks ago I payed off my investment. Anything that I make now is money that I never had before. 

[AK0490]

Sad to see you be going soon. You're easily the most knowledgeable person when it comes to crypto currencies. 

 

Yes, I do ask myself. And do you know what the answer is? 

I've already made my money back. Anything from here on out is pure profit

 

I started mining about 7 months ago and a few weeks ago I payed off my investment. Anything that I make now is money that I never had before. 

So you're saying it's like a money tree right????? Where do I sign up?

[79wjd]

Out of idle curiosity, how profitable is LTC/BTC mining? 

 

Like, how much could be made monthly with a gtx780? (ignoring electricity/wear&tear).

[DoubleY]

So you're saying it's like a money tree right????? Where do I sign up?

freebitcoins.com

 

Honestly though, if you wait long enough, you should easily make a profit. As long as you follow the market and switch to the most profitable coins. 

[AK0490]

freebitcoins.com

 

Honestly though, if you wait long enough, you should easily make a profit. As long as you follow the market and switch to the most profitable coins. 

THIS.....this soooo much