Cryptocoin Mining?

[blastingcap]

Projected: 3347 in 2d 23hr 5m 11s

2926 --> 3347 = +14.4% projected

So we're looking at +14% difficulty average increases every THREE days. People buying 7950s for $350+ and 7970s/280X for $400+ are retarded.

Translation: you are mining 14% fewer litecoins every 3 days for the same kH/s (exponential decay)

It's actually worse than that, more like 17% exponential decay. Also, unless you have free power, profit drops faster than revenue. Simple example: say you earn $3 of coins for $1 of electricity = $2 net profit. Then difficulty doubles. This means you get $1.50 of revenue on $1 in cost of power = $.50 profit. So even though your revenue only dropped 50%, your profit dropped 75%.

 

[Silverforce11]

Projected: 3347 in 2d 23hr 5m 11s

2926 --> 3347 = +14.4% projected

So we're looking at +14% difficulty average increases every THREE days. People buying 7950s for $350+ and 7970s/280X for $400+ are retarded.

Translation: you are mining 14% fewer litecoins every 3 days for the same kH/s (exponential decay)

Not anymore retarded than when people mined LTC when it was less than $2 each coin and monthly income was laughably low. But then again, people who mine know in the longer term, the coins they hoard at either break even or slight profit after paying the bills, will likely be worth heaps. Ala, BTC jumping from $30 to $1000 this year.

The more coins you get now in the immediate term, the better you're off IF you believe the prices will be sky high and you don't want to risk $$ investment buying coins.

 

[Silverforce11]

Well my 290 has been chuggin' along for the past 18.5hrs @ an average of 830kh according to cgminer. So far according to the wemineltc website I've scrounged up just slightly over 0.25 LTC.

Here's the config I'm running in case anyone is looking:

setx GPU_MAX_ALLOC_PERCENT 100
setx GPU_USE_SYNC_OBJECTS 1
cgminer --scrypt -o stratum+tcp://global.wemineltc.com:3334 -u username.1 -p workerpassword --thread-concurrency 32765 --lookup-gap 0 --gpu-engine 970 --gpu-memclock 1250 --gpu-powertune 20 -w 256 -I 18 -g 1

I used AMD Overdrive to cap the GPU temp at 92C and allow the fan to go up to 85%. Its been pegged at 89C all day and the fan is hovering between 51 and 53%. This is on a Sapphire 100362BF4SR R9 290.

That is spot on for income at current difficulty, weminteltc is a very good pool. You should set GPU temp target at 87C, R290/X becomes a massive power hog as it approaches 90C.

 

[Imouto]

Projected: 3347 in 2d 23hr 5m 11s

2926 --> 3347 = +14.4% projected

So we're looking at +14% difficulty average increases every THREE days. People buying 7950s for $350+ and 7970s/280X for $400+ are retarded.

Translation: you are mining 14% fewer litecoins every 3 days for the same kH/s (exponential decay)

Assuming the price is constant which is not and projections which differ from site to site. For example:

http://bitcoinwisdom.com/litecoin/difficulty +5.6%
https://www.litecoinpool.org/stats +6.6%
http://www.cryptochart.com/ +9%

And there are a ton of cryptocurrencies around growing exponentially in both difficulty and profit. I bet most of the new hardware is mining them instead of the steady but low profit LTC.

http://www.coinwarz.com/cryptocurrency

LTC is in the bottom.

 

[blastingcap]

Depending on power costs assuming a ~15cents/kWh, it's about 10-20 times more profitable to buy coins than to mine them for year 2013. The same pattern held for previous years as well. In the case that the coin goes to zero, you lose everything if you buy coins directly, but miners lose big too--all those power bills and depreciated hardware plus risk of hardware malfunction, fires, etc. In fact it is possible to lose MORE money mining than if you simply bought coins directly. For year 2013, at 15 cents/kWh you would lose ~80% of the money put into mining rather than 100%, if coins went to zero, but your returns are about 15 times worse than if you bought coins directly. Seems stupid to get returns FIFTEEN TIMES worse than buying coins directly, just to have a tiny bit of insurance where if the coin goes to zero you lose 80% instead of 100%. Buy or mine at your own risk, and do not gamble more than you can afford to lose.

 

[n0x1ous]

Which model is it? I assume it is the one with 1280 stream processors?

yes it has 1280 stream processors - its this one

http://www.newegg.com/Product/Product.aspx?Item=N82E16814127769

 

[philipma1957]

Projected: 3347 in 2d 23hr 5m 11s

2926 --> 3347 = +14.4% projected

So we're looking at +14% difficulty average increases every THREE days. People buying 7950s for $350+ and 7970s/280X for $400+ are retarded.

Translation: you are mining 14% fewer litecoins every 3 days for the same kH/s (exponential decay)

can't stay at that rate. in just 180 days all the gpu's in the world would be mining ltc. I finally got my ltc rig on line. do you know what really pushed me to do it. it is cold in NEW JERSEY and my rig is pulling 250 watts while it hashes at 660 kh.. better then free heat I am getting paid to heat the house. 250 watts is 6 kwatts a day. that is 1 dollar a day so 30 a month .. but 6 kwatts of power is about 18000 btus of heat.

So anyone that lives where it is cold is firing up to mine as extra heating. these numbers are false. since the northern hemisphere guys went on line to heat with the mining. My guess is under 10% the next 3 increases.

 

[nwo]

yes it has 1280 stream processors - its this one

http://www.newegg.com/Product/Product.aspx?Item=N82E16814127769

Nice, my MSI 7870 is the best one out of the bunch I have (Sapphire & XFX). Getting almost 400 kH/s with my MSI card @ stock VRAM and underclocked GPU core.

 

[f1sherman]

@Imouto

There you go again. Trying to predict the next difficulty based on few hours of data.
Remember how that ended the last time

can't stay at that rate. in just 180 days all the gpu's in the world would be mining ltc

180 days? LOL
GPU LTC mining has excellent chances of going dodo in 2-3 months.

 

[n0x1ous]

Nice, my MSI 7870 is the best one out of the bunch I have (Sapphire & XFX). Getting almost 400 kH/s with my MSI card @ stock VRAM and underclocked GPU core.

its my first MSI product....seems pretty nice. Its also the first non-reference, open air card Ive ever had. Definitely impressive in the noise department. It had the best reviews as far as temps and noise vs the asus and gigabyte. I also like how they have their clear ranges now...

aka
best = lightning
better = hawk
good = gaming

ALSO: WTF happened to XFX? They used to be a great AIB back when they were exclusive Nvidia partner, but ever since they switched to the red team seems like they have gone way down hill. I am reading everywhere how their 7950/7970 are horrible and have terrible VRM cooling and RMA rates....shame...

 

[geokilla]

So I guess it's time to switch over to Feathercoin? Anyone got a pool to recommend? I'm gonna spend tonight looking and formatting my computer.

 

[AnonymouseUser]

So I guess it's time to switch over to Feathercoin? Anyone got a pool to recommend? I'm gonna spend tonight looking and formatting my computer.

Give-Me-Coins is pretty good for LTC and FTC.

 

[Imouto]

@Imouto

There you go again. Trying to predict the next difficulty based on few hours of data.
Remember how that ended the last time

Not bad taking in mind the previous 20% difficulty (hence the "well behind the curve") increase and that the 3 last spikes ruined my prediction. Anyway I just put his 14% in context, of course an early prediction like that isn't reliable. That's why 4 different sites ranged from 5% to 14%.

 

[blastingcap]

@Imouto

There you go again. Trying to predict the next difficulty based on few hours of data.
Remember how that ended the last time




180 days? LOL
GPU LTC mining has excellent chances of going dodo in 2-3 months.

I put him on ignore for a reason. I cited to a popular difficulty chart site, he pulled some random stuff and misread it. The numbers clearly indicated growth even at the time he made his prediction of stable or falling difficulty.

 

[Imouto]

I put him on ignore for a reason. I cited to a popular difficulty chart site, he pulled some random stuff and misread it. The numbers clearly indicated growth even at the time he made his prediction of stable or falling difficulty.

Now arguing through a third party? Seriously...

 

[Erenhardt]

Is there a way to restart display driver without full system reset? I my driver sometimes crashes when I quit by pressing 'x' icon, or after long 20 intensity mining session I try to do something. When it recovers by itself I loose quite a bit on hashrate.

 

[geokilla]

Is there a way to restart display driver without full system reset? I my driver sometimes crashes when I quit by pressing 'x' icon, or after long 20 intensity mining session I try to do something. When it recovers by itself I loose quite a bit on hashrate.

Your driver doesn't recover? I find that my drivers recover so all I usually have to do is restart the client. Hopefully this format fixes my problem..

 

[IEC]

Now arguing through a third party? Seriously...

Your predictions were wrong.

 

[Erenhardt]

Your driver doesn't recover? I find that my drivers recover so all I usually have to do is restart the client. Hopefully this format fixes my problem..

My driver recovers, but after restarting cgminer my hashrate is lower than before the crash. System restart helps. I will have to look more into that.

Remember to quit cgminer with "q" button, and not the x on the client window border.

 

[ultimatebob]

So I guess it's time to switch over to Feathercoin? Anyone got a pool to recommend? I'm gonna spend tonight looking and formatting my computer.

Do we really think that Feathercoin is going to be worth something someday? I was mining it when it first came out, and dumped it as soon as it started trading on BTC-E. Good thing I did, too, since the value was cut in half a day later.

Honestly, I think that it's not going to be any more successful than any of the other Litecoin clones out there.

 

[hondaf17]

I got it working as mentioned below. I had the same issue. When watching the task manager and starting the GUI miner, it would start the cgminer which would disappear in a few seconds (apparently crashing cgminer 3.5).



Ok, yeah I guess I'm using one of the ones in this page.
https://www.wemineltc.com/gettingstarted



Thanks. The guide is basically only useful for the litecoin wallet and pool setup.

I got it working with the latest catalyst beta driver (NO SDK) and cgminer 3.6.6. (https://github.com/kanoi/cgminer-binaries)

The SDK, driver, cgminer/guiminer suggested in the thread just wouldn't work for me.

Just start the cgminer with the cmd.

>cgminer.exe --scrypt -o stratum+tcp://world.wemineltc.com:3335 -u username.1 -p minepoolpassword -I 17

Thanks. Uninstalled all my AMD drivers, used driver sweeper to make sure it was clean, then installed the latest 13.11 BETA, NO SDK, and CGMiner 3.6.6. Working great now. My 6950 is getting about 405 kh/s.

Electricity in my neighborhood is $.065 / kwh. Should this be a profitable venture for me?
My GPU maxes out at 78 degrees C with fan at 75-80. Is this OK long term (days at a time)?
I control GPU clocks and voltages via MSI Afterburner instead of the CMD .bat file. Is this a reasonable approach?

Thanks for the help guys.

 

[geokilla]

So I just installed the latest beta drivers on a fresh install of Windows 7. Instant driver crash and recovery. I think the drivers are bad. Thank God for doing a image. My SSD isn't going to like all these reads and writes though.

 

[chimaxi83]

180 days? LOL
GPU LTC mining has excellent chances of going dodo in 2-3 months.

Based on what? Do you have a source?

 

[Silverforce11]

Based on what? Do you have a source?

Obviously based on his green imaginary friend.

Because nobody knows and thats the truth of it.

 

[IEC]

Anyone know anything about Casino Coins (CSC)? Thinking of throwing one mining rig at it for giggles.