Litecoin mining, AMD GPU prices increase.

[ahimoth]

or, never turn it off.. evah!

so what sort of return are you looking at here then? i.e how much money *roughly* would this earn per month ?

say a 3x7870 or 3x280x or something ?

Litecoin's profits basically halved. Last month you would have been clearly over 1,000 USD a month running 4 290's - $600 a month is still pretty good it'd pay off your investment in ~4 months. Last month you could cover $2,000 ever month and a half. Mind you this is the cost of electricity here in Australia so the UK will most likely still be more lucrative.

https://www.litecoinpool.org/calc?h...971494&power=1600&energycost=.29&currency=USD

 

[S_I_N]

another avenue to look at is to NOT buy a cheap sempron and get a decent 6/8 core cpu and mine another alt coin with that whilst mining lites on the gpu's I mine primecoins on y cpu while doing lite coins on gpus when I'm mining.

 

[d3rrial]

I'm doing roughly 1.8MH/s to 2MH/s on my 2 290X cards. Altough I would strongly recommend against buying new hardware for ltc mining now. After the current difficulty skyrocket, you can forget making any reasonable profit, because the difficulty will just keep climbing, while the price will keep falling (was almost 40€ a week ago, is at 21€ now). Alright, I'm sure the price will go up again, possibly into the 1XX€, but thats not a given.

I'm running my cards at standard clock speeds, no OC, fan-speed is unlocked, they run 8 hours a day (when I'm at work, so I don't have to bear with the noise and today I made around .2 Litecoins. 22 Workdays a month a 8 hours makes 4.4 litecoin a month, decreasing rapidly because of the difficulty increases. It's still roughly 100€, but the cards pull 500W minimum, which isn't very cheap.

If you, against all odds, however do decide to get into litecoin mining, get R9 290 cards. They're the most efficient. Try to get your hands on Sapphire versions, they use the best memory (Elpida or sth.) which is most important for Litecoin mining. I would also suggest getting your hands on a beastly powersupply, at least 80+ Gold, if possible 80+ Titanium. Motherboard -> http://www.asrock.com/mb/Intel/H81 Pro BTC/index.asp with 6 PCIe risers and 6 Dummyplugs. There are two options for CPU: Either a beast of a CPU for other coins (like Protoshares or Primecoins) or a crappy, cheap, low power CPU, that doesn't do anything but run Xubuntu and BFGMiner / CGMiner.
RAM doesn't matter if you want a power-saving CPU, but if you want Protoshares or Primecoins, you need RAM and lots of it. It doesn't have to be high frequency overclocker RAM or anything, you just need the most possible in capacity, altough frequency tends to help.

I'm mining on the pool "hypernova.pw" which has proven to be quite reliable.

For exchanging my LTC into BTC I'm using btc-e.com

And for exchanging my BTC into € I'm using bitcoin.de

WARNING: Keep don't think this is some way to get rich quick. Many have thought that and have failed. Also the Cryptocurrency world is out to get you. There are unbelievably many scammers and I suggest taking EVERYTHING you hear with a grain of salt. Do your own research before trusting people you don't know with anything, if it sounds odd, it usually is.

Have fun and good luck,

Regards, d3

PS:

I forgot to write on topic... Man I'm an idiot

So yes, a friend of mine recently ordered a R9 290 for LTC mining and he got screwed over by the company he ordered from, who increased the prices just after he ordered and then wanted him to pay the higher price, AFTER he ordered for the old price... There's some shi* going down.

 

[sheepborg]

So yes, a friend of mine recently ordered a R9 290 for LTC mining and he got screwed over by the company he ordered from, who increased the prices just after he ordered and then wanted him to pay the higher price, AFTER he ordered for the old price... There's some shi* going down.

Would you mind mentioning the company in forum or PM? I have the strangest feeling my order of a 290 is getting delayed for the same reason...

Not very fun missing out on my ~10 bucks a day while it is still profitable. Free money is free while it lasts. Not something I would directly invest in though. I was going to get a 780 but then switched to 290 because i could spend less then equalize the cost to cheaply get another in the future :lol:

 

[mrapoc]

I got a feeling I'm way too late to join in on coin mining and the likes.


Is this the case? Is it against the overclock3d persona for us to set up a mining group? Are we too small a group compared to others? Is it simply not worth it? We don't want to tread on the folding group either.

 

[d3rrial]

mrapoc, I highly doubt that oc3d could make a pool large enough to find blocks in a reasonable timeframe. Folding and Mining in groups are two totally different things.

Also its currently getting very unprofitable, so I doubt there is much profit to be made from litecoin mining in a short while.

The pool I'm mining on has 1GH/s, thats about 1000 people mining with an average of 1MH/s and its a comparatively small pool, so yeah.

For sheepborg, I doubt you will be affected by this, it was a canadian etailer.

 

[Damien c]

Think I might have to sell my AMD 965BE and Crosshair Formula III motherboard on the old ebay, seeing as it is sat in my server that is currently not being used.

 

[NeverBackDown]

All i know is my brother bought his 280x in time.. 6 days after purchase the cards rose up $100 from every brand and all were out of stock. Prices have rose an additional $20 and stocks are depleted with back orders and new batches that are coming in go straight to the people on a list. So far the 7970,7950,280x are the worst case scenario but it is starting to climb on up for 290,290x as well.

 

[S_I_N]

might want to find a mining forum and try and sell there eBay has gotten ridiculous with fees again not only the 3% for PayPal but eBay takes 10% final value fee. YES I said 10% so make sure you set a starting price for what ya want to pocket after fees otherwise ur almost giving it away. I sold a 5850 for 125 plus 18 ship they took $12.50 plus $1.80 on eBay then PayPal took $4.50 after actual shipping of $13 I came out with $111.20 while I'm OK with that it just shows how greedy eBay/PayPal has gotten. I was thinking ok cool I scored.

 

[barnsley]

I was going to get me another 280x after xmas. Looks like I'll have to wait .

 

[theDTP]

A little litecoin math for my 2x 7950's

I am getting around 950Kh/s - 1Mh/s which gives me an average of 0.012 LTC per hour, so 1 LTC will take 83 hours.

83 hours of 600w per hour costs £6.64 (£0.133[price for 1Kw/h] / 1000 * 600 = £0.08[cost of 600w/h] * 83[hours for 1 coin] = £6.64

£18.11 (1 LTC as of now) minus the electricity charge for mining 1 LTC = £11.47.

Now I don't have a dedicated rig for mining but I can run my PC just enough to gain 1 LTC per week, seems pretty pathetic but hey I'm not arguing about an average of £49.70 a month (£11.47 * 52 / 12) after electricity costs.

Now if I could just get another 2 7950's and run 24/7 that would bring it up to £198.80 a month

 

[d3rrial]

It seems to be more profitable at the moment, not to mine litecoins but do some alt-coin hopping. (Mining different alt-coins and selling them for btc).

The site I'm using for this (since yesterday) is http://cryptologik.com

I can't yet tell how trustworthy it is, but a friend of mine said he got payouts.