LiteCoin Mining Rig Guide

[MikeTz]

Hi!

 

So I have been seeing a lot of questions about LTC mining rigs and I thought that maybe I could make a guide on LTC rigs.

Here I will cover the following budgets(£/€): 830/1000. Also 1000$, and more!

 

!!!!!!ATTENTION!!!!!! SOME PRICES ARE APPROXIMATES + PRICES MAY VARY FROM SHOP TO SHOP + RIGS ARE BASED ON EUROS

 

830/1000 + some money left.

 

CPU:AMD A4-4000 (30/40)

GPU:2X 7950(any dual fan will do)  (230/270)

MOBO:Gigabyte GA-F2A85X-D3H (70/85)

RAM:2GB's from any brand (15/20)

PSU:Corsair RM Series RM1000 80Plus Gold (155/180)

HDD:The cheapest you can find  (30/38)

 

If you have a bigger budget just get more GPU's and maybe more RAM or a 4 core CPU.

 

1000$ budget(taken from PCpartpicker)

 

http://pcpartpicker.com/p/2eVU1

 

 

P.S I don't know whether to post this here or in the planning section since more people who are intrested in LTC will see this here,and sorry if I made any mistakes since my first language isn't English

 

Also if someone has thought of a better combo,please share it!

 

[FloRolf]

so, how long would it take for that system to pay itself of with litecoin mining and electricity costs of around 20cents/KwH?

[The Great Sayain Man]

so, how long would it take for that system to pay itself of with litecoin mining and electricity costs of around 20cents/KwH?

Around a month. 

[whatthe_fuzz]

PSA: If you already having a gaming desktop and intend to build a mining rig to potential make a fortune in Litecoins, STOP.

By building a rig that implies that:

1. you trust LC will takeoff 
2. you can make your money back and cover electricity costs
3. you TRUST the LC POTENTIAL market

better investment? buy as many LC's as you can. You dont have to pay for electricity and you dont have to worry about ATTEMPTING to make your money back that you spent on a rig. 

[MikeTz]

so, how long would it take for that system to pay itself of with litecoin mining and electricity costs of around 20cents/KwH?

Per month the cost to power this would be 100$ and the LTC made per month now would be around 680$.

All this according to http://www.litecoinminingcalculator.com    n    http://www.rapidtables.com/calc/electric/electricity-calculator.htm   +    https://btc-e.com/exchange/ltc_usd

[Morpheus]

PSA: If you already having a gaming desktop and intend to build a mining rig to potential make a fortune in Litecoins, STOP.

By building a rig that implies that:

1. you trust LC will takeoff 
2. you can make your money back and cover electricity costs
3. you TRUST the LC POTENTIAL market

better investment? buy as many LC's as you can. You dont have to pay for electricity and you dont have to worry about ATTEMPTING to make your money back that you spent on a rig. 

i disagree, if you buy LC's and it crashes, you're left with nothing. Atleast when you build a rig you can sell the parts back and make some money back

[megadarkwood]

I am already making a guide on this already.. 

[Vitalius]

-snip-

Why an HDD at all? Get a cheap 4-8GB USB Flash Drive and just install Ubuntu on it. BAMT (Scrypt) is a good choice too.

[MikeTz]

Why an HDD at all? Get a cheap 4-8GB USB Flash Drive and just install Ubuntu on it. BAMT (Scrypt) is a good choice too.

I thought of that but some people might want an HDD so I included one

[whatthe_fuzz]

i disagree, if you buy LC's and it crashes, you're left with nothing. Atleast when you build a rig you can sell the parts back and make some money back

 

i see what youre saying...

but you also have to factor in the timing. 

if i buy 20LTCs at ~$30USD a piece and they jump to $70 in the next week then i wouldve made $800 in a week. 

whereas if i had payed for a mining rig @ $1000 and make 5LTC, in a week i would still be in a hole of debt ($650+powerbills).

 

its like stocks. I would only buy stock in a company that i expect to succeed. I expect LTC to succeed but if they crash (lets say, hypothetically, they start to drop) then i can sell my coins and GTFO.

 

lets go back to my original number example. 

if i invest $600 and purchase 20LTC @ $30 a piece and they begin to drop. if they get to ~$25 when i sell them then i only lose $100

 

however, if i purchase a rig for (lets just say $600 for the example) $600 and begin mining, and gain 5, 8, 12, LTCs before it crashes that means i lose anywhere from $615-$375. 

($600 [rig] + $75 [power] - $60-$300 [# of LTC before crash]) if you can manage to scrap the build you MIGHT make your money back off the GPU's but the market for the other components is very minuscule if existent at all.

 

my point is this, If LTC began to crash, the fastest way out would be to immediately sell. if you just sunk $1K into a rig then the market crashes you have nothing to sell other than a mediocre rig with some nice GPU's.

 

it's a gamble....and i know i personally have bad luck

 

 

PS- the flip side is also true. you could make your money back then make another $3k if the market takes off. 

[FlakeyBanana]

sorry to but in but LTC is the correct abbreviation of Litecoin hurts my brain looking at all those LC's

[LoneGun]

i see what youre saying...

but you also have to factor in the timing. 

if i buy 20LTCs at ~$30USD a piece and they jump to $70 in the next week then i wouldve made $800 in a week. 

whereas if i had payed for a mining rig @ $1000 and make 5LTC, in a week i would still be in a hole of debt ($650+powerbills).

 

its like stocks. I would only buy stock in a company that i expect to succeed. I expect LTC to succeed but if they crash (lets say, hypothetically, they start to drop) then i can sell my coins and GTFO.

 

lets go back to my original number example. 

if i invest $600 and purchase 20LTC @ $30 a piece and they begin to drop. if they get to ~$25 when i sell them then i only lose $100

 

however, if i purchase a rig for (lets just say $600 for the example) $600 and begin mining, and gain 5, 8, 12, LTCs before it crashes that means i lose anywhere from $615-$375. 

($600 [rig] + $75 [power] - $60-$300 [# of LTC before crash]) if you can manage to scrap the build you MIGHT make your money back off the GPU's but the market for the other components is very minuscule if existent at all.

 

my point is this, If LTC began to crash, the fastest way out would be to immediately sell. if you just sunk $1K into a rig then the market crashes you have nothing to sell other than a mediocre rig with some nice GPU's.

 

it's a gamble....and i know i personally have bad luck

 

 

PS- the flip side is also true. you could make your money back then make another $3k if the market takes off. 

 

That's why I think you should go for intel i5 and better mobo, like Asrock killer. So at least you can market your rig as a supreme gaming PC if you do decide to sell. No one's gonna buy a crappy AMD CPU + mobo. If you don't wanna sell, at least you are left with one amazing gaming PC that would last 5+ year performance wise!

 

As for LTC, I hope it crashes so there will be less miners around. But at the rate chinese are buying these virtual currency to escape their communist big brother's grasp, it's gonna go up!

[RuecanOnRails]

I'd suggest anyone interested takes a look at this guide.

http://www.cryptobadger.com/2013/04/build-a-litecoin-mining-rig-hardware/

 

 

As with any investment, I always suggest to learn what your investing in first, and to diversify. Split your initial investment between buying coins directly and mining hardware. Don't hold everything in one asset, hold some Bitcoin, and some Litecoin. I'd suggest doing serious research before buying any other coin.

 

Any calculator you use to estimate earnings are only relevant for a max of 3 days. With the constant fluctuations in price and difficulty, calculators cannot relied on for more than extreme short term potential.

 

 

To add up your current hardware look them up here 

https://litecoin.info/Mining_Hardware_Comparison

Here's a calculator

https://www.litecoinpool.org/calc

 

Another calculator which you can attempt to use recent trends to get a slightly short/mid term projections

http://bitcoinwisdom.com/litecoin/calculator

On that same site you watch the mining difficulty which changes every 3 days.

http://bitcoinwisdom.com/litecoin/difficulty