I see how that would work for hoarding but how do you sell them in that case?ideally you would keep one offline, it never has to see the internet. ever.
as long as you know the wallet address.......the networks puts the coins there
as far as I understand it
I see how that would work for hoarding but how do you sell them in that case?
I see how that would work for hoarding but how do you sell them in that case?
Yea, unless one thinks that LTC will be more profitable than BTC in the future and hangs on to the LTC coins until then, there is no reason to mine LTC currently over BTC. IMO, to make up with the instability of the LTC pools, the more "picky" LTC is about mining, etc LTC profitability needs to be a good 25% or more over BTC to make it worth mining LTC over BTC.
Side note: Back in it's infancy (summer 2011), BTCGuild was just as unstable as LTC pools are today. Amazing what a couple years and probably a decent amount of money made can do for stability.
I guess that is one way of doing it. As a general rule when it comes to investments I like to hoard 1/3 in case prices go up, sell off 1/3 that goes to paying running costs and reinvestments, and sell 1/3 that goes towards improving my quality of life a little. I don't make money for the sake of making them you see. It will take me longer to buy that private island but I have more fun waiting for that day!You don't. Keep them offline, forget about them. 10 years later you connect it to the network and spend 2 BTC to buy a small private island.
Not true. As of today. lol. This was almost true yeaterday. Today LTC has jumped in price to over $4/LTC and 0.028/BTC.
My very stable pool i use, www.give-me-ltc.com is running at 284581 paid shares so far with only 4515 unpaid stales (1.59% stales) and only a 2% fee. So mining costs are about a steady 3.6%.
Playing with their calculator today @ 404 difficulty I am pulling in near $5 a day now off a single MSI 7950! This was under $2 at the low point last week and has averaged for a while at $3 so we have make a break now upwards.
Have converted some LTC in BTC, but hold most in LTC still and have converted none in FIAT yet becuase I have not yet had my credit card bill or any new power bill since I started up 3 weeks ago.
Way more profitable than BTC now again!
M
I guess that is one way of doing it. As a general rule when it comes to investments I like to hoard 1/3 in case prices go up, sell off 1/3 that goes to paying running costs and reinvestments, and sell 1/3 that goes towards improving my quality of life a little. I don't make money for the sake of making them you see. It will take me longer to buy that private island but I have more fun waiting for that day!
I will see what I can do for safeguarding my coins and miner tonight. Thank you for the advice.
FPGA for Litecoins is on its way too.
o rly. where from?
Would this be a much better investment vs. Using my GPU to mine?
https://products.butterflylabs.com/homepage/5-gh-s-bitcoin-miner.html
No point in buying anything from BFL. There are tens of thousands ahead of you, they have taken pre orders for almost a year. When you get yours the difficulty will be so high it won`t be much profit in it
Well that sucks.....
Assuming any normal power cost and power consumption, you are losing money to operate that. Power costs might be a little less than $1/day, and revenue is less than $0.60.Ok, got my GTX660 mining away at 72.0 Mhash/s
I'm movin on up..... To the eeeeeeeeast side.
To a deluxe apartment, in the sky hi hiiiii........
Ok, got my GTX660 mining away at 72.0 Mhash/s
I'm movin on up..... To the eeeeeeeeast side.
To a deluxe apartment, in the sky hi hiiiii........
You using cudaminer, Keys? Maybe double your hashrate...or sell that 660 and get a 7950, hehehe :sneaky:
(edit: btw, cudaminer's for scrypt coins like Litecoin, not bitcoin)
Assuming any normal power cost and power consumption, you are losing money to operate that. Power costs might be a little less than $1/day, and revenue is less than $0.60.
I betcha on day one of the beginning of the bitcoin era, 72 Mhash/s was probably really decent. Now, forget about it. That time is approaching for 7xxx owners to. It will be only ASIC, Avalon, and FPGA's down the road a spell. It's too late to get into bitcoins now with just GPU's and from what I'm reading, you'd have to give a kidney to get ASIC's anytime soon. Something like 10,000 orders need to be filled by butterfly labs alone. As difficulty increases, 500Mhash per GPU isn't going to look so hot either.
I'm not really going to mine or attempt to mine with the 660. I just wanted to see what the hash rate was.
Yup pretty much.
My tip: Follow threads about upcoming FPGA Litecoin miners. Be the first one to preorder them, get on the first batch. Mine mine mine.
That might give you many months to mine Litecoin with FPGA kinda alone with low difficulty. Use those Litecoins, exhange them for Bitcoins if the value of Bitcoins skyrocket due to the high difficulty in that network.
Profit!
There are a few FPGA Litecoin miners out pretty soon We have to see if they are real first though