litecoin mining

[jonas9151]

how do i start to use litecoin mining

[Oshino Shinobu]

There's really no point in mining anymore. You'll be spending more money on electricity than you'll be making. 

[KemoKa]

First of all: I would say don't.

 

You need balls/ovaries of steel and economic proficiency bordering on precognition to turn even a little profit in scrypt coin mining. It's really risky business. Think of it this way: would you have come to us asking if it was a good idea to start trading on the stock market? Most of us would say no, because of the gigantic amount of risk involved. But in the scrypt mining world, there are no regulations, no safety nets, no procedures to help you recover from a loss if you run into one. You're on your own.

Before you dive into mining, research it thoroughly, make sure you understand everything involved, learn what happened at Mt. Gox, and then come and ask us how to start mining if you're still up for it. A lot of us tried it and failed. You're reading from one of them right now.

[vorticalbox]

First of all: I would say don't.

 

You need balls/ovaries of steel and economic proficiency bordering on precognition to turn even a little profit in scrypt coin mining. It's really risky business. Think of it this way: would you have come to us asking if it was a good idea to start trading on the stock market? Most of us would say no, because of the gigantic amount of risk involved. But in the scrypt mining world, there are no regulations, no safety nets, no procedures to help you recover from a loss if you run into one. You're on your own.

Before you dive into mining, research it thoroughly, make sure you understand everything involved, learn what happened at Mt. Gox, and then come and ask us how to start mining if you're still up for it. A lot of us tried it and failed. You're reading from one of them right now.

The only time i would say it is worth it is if you have money to waste on hardware and don't pay for the power.

[KemoKa]

The only time i would say it is worth it is if you have money to waste on hardware and don't pay for the power.

yeah, I mean if you have a 7970 or a 290/X, you can spend some time mining some cheap, easy to mine coins and you'll make a huge profit margin (MARGIN) if it shoots up in price, but that's where the economic precognition and steel genitals come in.