New people please read this. [upvote for visibility please]
I am seeing too many new people come and and getting confused. Litecoin wiki isn't the greatest when it comes to summing up things so I will try to do things as best as I can. I will attempt to explain from what I have learned and answer some questions. Hopefully people smarter than me will also chime in. I will keep this post updated as much as I can. Preface Litecoin is a type to electronic currency. It is just like Bitcoin but it there are differences. Difference explained here. If you are starting to mine now chances are that you have missed the Bitcoin mining train. If you really want your time and processing power to not go to waste you should mine LTC because the access to BTC from there is much easier. Mining. What is it? Let's get this straight. When making any financial commitment to this be prepared to do it with "throw away" money. Mining is all about the hashrate and is measured in KH/s (KiloHash/sec). Unlike the powerful ASICs (Application Specific Integrated Circuit) that are used to mine bitcoins using hashrates in the GH/s and even TH/s, litecoin mining has only been able to achieve at the very best MH/s. I think the highest I've seen is 130 MH/s so far. Which leads us to our next section. Mining Hardware While CPU mining is still a thing it is not as powerful as GPU mining. Your laptop might be able to get 1 a month. However, I encourage you to consult this list first. List of hardware comparison You will find the highest of processors can maybe pull 100 KH/s and if we put this into a litecoin mining calculator it doesn't give us much. Another reason why you don't want to mine with your CPU is pretty simple. You are going to destroy it. So this leaves us with GPUs. Over the past few months (and years) the HD 7950 has been the favourite because it drains less power and has a pretty good hashrate. But recently the introduction of the R9 290 (not the x) has changed the game a bit. People are getting 850 KH/s - 900 KH/s with that card. It's crazy. Should I mine? Honestly given the current difficulty you can make a solid rig for about $1100 with a hashrate of 1700 KH/s which would give you your investment back in about a month and a half. I am sure people out there can create something for much cheaper. Here is a good example of a setup as suggested by dystopiats PCPartPicker part list / Price breakdown by merchant / Benchmarks
Prices include shipping, taxes, and discounts when available.
Generated by PCPartPicker 2013-11-29 00:52 EST-0500
Estimated Hashrate (with GPU overclocking) : 1900 KH/s Hardware Fundamentals CPU - Do you need a powerful CPU? No but make sure it is a decent one. AMD CPUs are cheap to buy right now with tons of power. Feel free to use a Sempron or Celeron depending on what Motherboard you go with. RAM - Try to get at least 4 GB so as to not run into any trouble. Memory is cheap these days. I am saying 4 GB only because of Windoze. If you are plan to run this on Linux you can even get away with less memory. HDD Any good ol 7200 RPM hard drive will do. Make sure it is appropriate. No point in buying a 1TB hard drive. Since, this is a newbie's guide I assumed most won't know how to run linux, but incase you do you can get a USB flash drive and run linux from it thus removing the need for hard drive all toghether. (thanks dystopiats) GPU - Consult the list of hardware of hardware I posted above. Make sure you consider the KH/s/W ratio. To me the 290 is the best option but you can skimp down to 7950 if you like. PSU - THIS IS BLOODY IMPORTANT. Most modern GPUs are power hungry so please make sure you are well within the limits of your power consumption. MOTHERBOARD - Ok, so a pretty popular board right now is Gigabyte GA-990FXA-UD3 and the ASRock 970 Extreme4. Some people are even going for Gigabyte GA-990FXA-UD5 and even the mighty Gigabyte GA-990FXA-UD7 because it has more PCI-E slots. 6 to be exact. However you may not need that much. With risers you can get more shoved into less. PCI-E RISERS - These are called risers. They come in x16 to x16 and x1 to x16 connections. Here is the general rule of thumb. This is very important. Always get a POWERED riser otherwise you will burn a hole in your MoBo. A powered rise as a molex connector so that additional power from PSU can be supplied. When it comes to hardware I've provided the most basic knowledge you need. Also, take a look at cryptobader's website. This is very helpful. Please visit the mining section of Litecoin Forums and the litecoinmining subreddit for more indepth info. Mining Software Now that you have assembled your hardware now you need to get into a pool. But before you do that you need a mining software. There are many different ones but the one that is most popular is cgminer. Download it and make sure you read the README. It is a very robust piece of software. Please read this if you want to know more. (thanks BalzOnYer4Head) Mining Pools Now that your hardware and software is ready. I know nothing about solo mining other than the fact that you have to be very lucky and respectable amount of hashing power to decrypt a block. So it is better to join pools. I have been pool hopping for a bit and really liked give-me-coin previously known to the community as give-me-ltc. They have a nice mobile app and 0% pool fees. This is really a personal preference. Take a look at this list and try some yourself. How do I connect to a pool? Most pools will give you a tutorial on how to but the basics are as follows:
Signup for a pool
Create a worker for your account. Usually one worker per rig (Yes people have multiple rigs) is generally a good idea.
Create a .run file. Open up notepad and type cgminer.exe -o (address_to_the_miningpool:port_number) -u (yourusername.workername) -p (your_worker_password_if_you_made_one). Then File>Save As>runcgminer.run (Make sure the drop down is set to "All Files" and .txt document.) and save in the same folder as cgminer. That's it.
Double click on runcgminer.run (or whatever you named it) and have fun mining.
Mining Profitability This game is not easy. If it was, practically everyone would be doing it. This is strictly a numbers game and there are calculations available that can help you determine your risk on your investments. 4 variables you need to consider when you are starting to mine: Hardware cost: The cost of your physical hardware to run this whole operation. Power: Measured in $/KwH is also known as the operating cost. Difficulty rate: To put it in layman's terms the increase in difficulty is inversely proportional to amount of coin you can mine. The harder the difficulty the harder it is to mine coin. Right now difficulty is rising at about 18% per 3 days. This can and will change since all you miners are soon going to jump on the band wagon. Your sanity: I am not going to tell you to keep calm and chive on because quiet frankly that is stupid. What I will tell you not to get too carried away. You will pull you hair out. Seriously. Next thing you will need is a simple tool. A mining profitability calculator. I have two favourite ones. coinwarz I like this one cause it is simple. The fields are self explanatory. Try it. bitcoinwisdom I like this one because it is a more real life scenario calculator and more complicated one (not really). It also takes increasing difficulty into account. Please note: This is the absolute basic info you need. If you have more questions feel free to ask and or google it! More Below.
Planning on selling my current PC to go towards a a new $1500 build
Hello, I am planning on selling my current PC I built a few years ago to go towards this new one. It's listed below, any input as to a fair price I could sell for would be great Have you read the sidebar and rules? (Please do) Yes What is your intended use for this build? The more details the better. Gaming and Programming. The ability to dual boot Linux and run VMs in Windows would be a huge plus. For whatever reason my motherboard will just not boot into Ubuntu or even run a usable VM I have gotten into mining bitcoin recently (Using NiceHash), however it's more of just a hobby to save up for a steam game eventually or something. I don't expect any real profit If gaming, what kind of performance are you looking for? (Screen resolution, framerate, game settings) I have a 4K monitor, but I would like to be able to play games at high/ultra possibly at 1440p What is your budget (ballpark is okay)? About $1500 In what country are you purchasing your parts? Canada Post a draft of your potential build here (specific parts please). Consider formatting your parts list. Don't ask to be spoonfed a build (read the rules!). My Planned Build: (Already have a 480GB SSD) PCPartPicker part list / Price breakdown by merchant
Provide any additional details you wish below. I'll probably end up swapping out the CPU cooler for liquid eventually, as well as installing more RAM EDIT: With that liquid cooler I definitely plan on overclocking Thanks for the help!
Prices include shipping, taxes, and discounts when available.
Generated by PCPartPicker 2012-12-06 11:13 EST-0500
First and foremost, this computer is intended to hold me over for the next few years until I am commissioned into the United States Air Force. Here is a list of different things that this computer will be used for:
Goldfarming. Wait! What's that? Well... goldfarming is where you run a "bot" (or macro) to obtain in-game currency. Then, with that in-game currency from the bot, I sell to the general public for good 'ole real-life currency, preferrably USD.
Gaming. Nothing too major, just something to do every now and then.
Programming. I am, and plan on, taking computer programming classes while I am here at college.
Now that I am done with what "society" has wanted me to do, by telling you the Gaming-Aspect of this computer's usage, I will continue.
Entertainment. Yes, entertainment. This includes, but does not limit to, movies, music, and whatever else your minds can think of.
I've also been thinking of running some BitCoin Mining/LiteCoin Mining in the background, figured it can't hurt. I know it's "late in the game," but it's whatever. I don't pay for electricity. (Either I am at home, where the MILITARY pays for my electricity, or I am at school, where the UNIVERSITY pays for it.) Any questions, comments, concerns, or general feedback? (Also, this is my last build. I am not building anymore, until I actually physcially build this computer.) The statement in quotations is not to discourage you from suggesting better parts. Try and keep the budget to $900, I'd like to not go much over.
Hello Redditors! I was referred here by a floor mate of mine, she said, 'Reddit is the place to go if you ever need ANYTHING.' She made sure to emphasis the anything part. I recently bought a complete desktop off of a fellow on Craigslist. (The guy I bought it off of is in the United States Army, and he had to literally sell it quick while he was in town. He was being shipped off to California, and was just going to throw it away if he didn't sell it.) He was asking $75.00 for the complete setup, which I thought was decent. I emailed him an offer of $50.00, knowing his hardware was a little dated. After approximately 12 days of going back and forth, I finally was able to meet this guy and complete the exchange. He gave me a monitor, tower, router, mouse, keyboard all for $40.00; he shaved $10.00 off for it being Christmas and all when we met. Here is a little more detail about each of the individual items. The Monitor - It's an eMachines monitor, running 1366x768 with a 60Hz refresh. Great condition. The Tower - It's an eMachines ET1331G-05w Model. This tower is different though, it has 2 HDDs (750GB and 200GB) and a discrete graphics card! (ATI Radeon HD 5450, to be exact.) It's running Windows 7, and I haven't used it for anything besides general web browsing and light BitCoin mining. The Router - It was a brand spanking new NETGEAR N900 Wireless Dual Band USB Adapter, and it works great! (I was looking in stores, and it was $60.00 or so brand new!) The Keyboard - I believe it to be the stock eMachines keyboard, nothing special. It has the Volume controller at top, with a sleep button on the right. The Mouse - It's just a Microsoft optical mouse from what I can tell about it. So, for a grand total of $40, I don't believe I did that bad for what I got. Allow me to get back on track with why I posted here... My friend told me that I'd be able to get help here with building a more up-to-date computer. She explained how it's cheaper and I'd get a better computer for my dollar. I saw that there was this part of Reddit -> /buildapcforme - I don't want someone else to build my computer for me. So, instead of going that route, I am going to propose a build and get some feedback on it. I plan on making this the central-hub for just about everything.... Gaming, Movies, Music, Work, etc... I run Photoshop, NetBeans, Eclipse, and so much more! Here is the AMD Build: PCPartPicker part list / Price breakdown by merchant / Benchmarks
Prices include shipping, taxes, and discounts when available.
Generated by PCPartPicker 2012-12-31 01:23 EST-0500
I feel more comfortable with AMD, because it's all I have ever used. I also like the idea of EyeFinity. TL/DR -> What are your thoughts Reddit? Does my AMD Build look good? Does the Intel build look good? Current Score AMD - 1 Intel - 2
Hey just a really quick question. Iam about to buy some riser adapters for my future mining rig, and I stumbled across these. They seem to be perfect. I want USB ones, because of reasons. Iam about to get the Gigabyte GA-990FXA-UD3 and (at the end) 6 Gigabyte/Asus R9 270's. Does some has experience with these risers? Or even with this eBay seller? To they readlly work for a 24/7 rig? Are they quality? Thanks :)
Everything was used 8-9 weeks, very lightly used, nothing overclocked. If you got any questions let me know. 1x GIGABYTE GA-990FXA-UD3 AM3+ $110 SOLD 1x XFX P1-850B-BEFX 850W ATX12V 850W Black Edition $100 2x Diamond Radeon R9-280X Boost, 3 GB $200 each SOLD 1x AMD Sempron 145 Sargas Single-Core 2.8GHz Socket AM3 45W $20 1x Add2PSU Adapter $5 1x Crucial 4GB 240-Pin DDR3 SDRAM DDR3 1600 $20 SOLD 1x SanDisk ReadyCache 32GB 2.5-Inch SSD Drive $25 x5 USB Risers from http://www.magicgrowing.com/bitcoin-mining/pci-e-powered-riser-card-100cm-40-usb-cable/ $25 for all 5 http://imgur.com/gallery/3jSgP/new Computer parts and time stamps are on the imgur link. Thanks!
Selling my Mining Rig, as Individual components or As a whole!
Hey guys, So i'm going traveling and will have to give up my rig so i'm looking to sell. Either as a whole or just the cards seperatly! until the cards have gone. The rig pulls about 3.6 MHS and consists of: 5x r9 280x Vapor-x // 2 1x - 16x cable risers // 1x Corsair RM 1000w (Can easily put one more card on there) // 1x Corsair RM 850w // ( GIGABYTE GA-990FXA-UD3 AMD 990FX (Socket AM3+) ( Can fit 6 cards ) // Basic AM3 Proecorrs (RRP like 40£) // 4g DDR3 Ram // i'm looking for 1300£ for the whole lot, which you can pay in doge or bitcoin. The cards on there own i'll sell for 200£. If anyone's interested let me know, i will deliver or you can come and collect in person if you're near by in the UK, Manchester.
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Rig used for mining litecoins 7x Sapphire 7950 Vapor X 2x Gigabyte 990FXA-UD3 Im considering adding another card when the "case" is done :) Full review: http://www.hitechlegion.com/reviews/motherboards/31313-gb-990fxa-ud7 The GA-990FXA-UD7 is Gigabyte's highest end motherboard utilizing the 990FX... Video muestra del funcionamiento correcto del producto. รับชมสินค้าและพูดคุยกับฉันได้ที่ • www.Gling-Corporation.com • ( ค้าขายด้วยหัวใจเสมอ ... Gigabyte GA 990XA UD3 bitcoin mining - Motherboard Mining ... Gigabyte GA-990FXA-UD3: обзор материнской платы - Duration: 4:45. ROZETKA 30,350 views. 4:45. Why NOT to buy ...