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What do you guys think aobut litecoin etc mining?

Discussion in 'Black Hat SEO' started by Borgo Snonshick, Jan 8, 2014.

  1. Borgo Snonshick

    Borgo Snonshick BANNED BANNED

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    I stumbled across this strange phenomenon as i was researching to buy a new graphics card and there were comments that everyone is buying amd card for litecoin mining. i was like wtf is that and had a search :D.

    Anyone tried it? is it harder/worse than seo? not much in life is harder than seo i dont think except getting pussy ofc.

    Even if it is profitable for the time being form what i gather its a transient thing that could go bust any time is that right? thus not something thats worth expending alto of time leanring only to have that knwoeldge wasted once the buble bursts?
     
  2. mwgllc

    mwgllc Registered Member

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    I tried Litecoin mining in March of 2013 when Litecoin was just $2.50 per coin (now it's like $25 per coin). I spent like $3500 on 2 big rigs with 4 graphics cards in each.

    The biggest problem was the cooling. No matter what I did, I couldn't keep the temperature down. I can't imagine how much more difficult it is to mine now with the popularity soaring. You'd really need to do a TON of research to do it properly without breaking the bank.

    You have to buy the machinery, budget for the extra electricity, make sure you are cooling properly, etc.

    It's not as easy as it was 5 or 6 years ago! I learned the hard way.
     
  3. paygseo

    paygseo Newbie

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    i got a small, 2 gpu rig in early december, just as the alt coin boom started...

    total cost was £950, but by jumping on new alts and then selling them quick i have made 2 BTC already - not too bad really...although it is sooooo addictive! i basically did nothing but watch a command line miner throw hashes at me for a month!

    havent had an electricity bill yet tho!
     
  4. srb888

    srb888 Elite Member

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    IMO, the cooking depends on how and when China will allow it to move (and others like it) around. They want their own real-world currency to dominate the world finances, and at present there seems to be nothing to hold them back from stopping everything else from ruining their short- and long-term plans.

    Keep an eye on China while you play with e-coins...
     
  5. Beven

    Beven Elite Member

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    It's pretty saturated now and taken up by bigger players. Not worth it imo.
     
  6. paygseo

    paygseo Newbie

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    IMO Bitcoins have a real world value - so pumping and dumping alts and getting BTC back seems like it has some mileage. No Government will be keen on any form of payment method that is difficult to track or tax!
     
  7. JoeMongan

    JoeMongan Jr. VIP Jr. VIP Premium Member

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    I think the get rich quick mining days are all over. The hype and speculation of crypto currencies is withering away.

    -RK
     
  8. cr0n1k

    cr0n1k Registered Member

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    you guys are to late you should have been doing 2 years ago when i started bit coin mining when they was worth 1$ any one trying to do it now its just risky business :)
     
  9. akacash

    akacash Jr. VIP Jr. VIP

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    Found myself in the exact same boat a couple weeks ago OP. I'm actually finishing building my 1st little "rig" tomorrow to get my feet wet. I think straight up mining litecoin at this point might be difficult unless you dump in a good bit of money to build a few computers. What I'm planning on doing is mining some of the other alt coins and then trading them for LTC and BTC through the exchanges. I'm still learning as I go, but I don't see it as a huge risk if you don't over extend yourself and do a little homework. Good luck to ya though!
     
  10. bartosimpsonio

    bartosimpsonio Jr. VIP Jr. VIP Premium Member

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    I got friends who ended their marriage spending all their cash in ecurrency mining and they didn't mine a single coin.
     
  11. TZ2011

    TZ2011 Senior Member

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    You can buy cloud power to do the work for you, you can purchase gigabytes of hashes and watch how is growing... also its not everything in bitcoins and litecoins, there is about 50 others. my friend talking about primecoin, with better algorithm, and much easier to work mining since just cpu power is needed, you don't need ultra strong pc's with special graphic cards, even old computers and processors are doing the job. it is new, not expensive like bitcoin, but still - you'll never know when it will grow up to bigger amounts like bitcoin did.