Joined: 25 Sep 2006 Location: Teamblackistan Posts: Over 9000
Posted: Wed Nov 27, 2013 12:10 am Post subject:
Litecoin/bitcoin mining
Subject description: anyone else do it?
So I had a bunch of old computer parts, so I thought I'd buy some beefy graphics cards and make a Litecoin miner.
Spent $50 on the PSU, and $130 on each graphics card, which are AMD Radeon 6950's (upmodded to 6970s). It's on an old P5ND2-SLI board, with a Pentium 4 CPU - but the graphics cards are the only things that really matter.
It rolls out about 900 KH/s, which pumps out about .60 LTC per day. In the past week, the LTC market spiked from it's all time high of $4 USD/LTC to $20USD/LTC. If this keeps up, I'll make ROI in just over a month!
So it's free money, and a chance to still use otherwise obsolete computer parts. I'm not looking to make it a livelihood, but it makes a nice hobby.
I didn't even know you could do that. If it doesn't cost anything, I might put my XP machine to work... _________________ KGR | AT
AZUR
Discord: theastronomer1836
Steam QUICK_EDIT
I don't think i fully understand the litecoin concept, but i'm pretty sure that 750Watt PSU is costing you in 1 min more than the amount of coins you mine in one hour under full load. _________________ SHP Artist of Twisted Insurrection: Nod buildings
Joined: 25 Sep 2006 Location: Teamblackistan Posts: Over 9000
Posted: Fri Nov 29, 2013 5:16 pm Post subject:
I just bought FOUR Black-Friday-discounted Radeon 7850s off Newegg, and got two sticks of 8GB RAM for free (worth $140 woot!). This means when they come I'll have 2 computers with 3 graphics cards each, all mining. That'll be about 1.5 LTC per day.
LTC price tanked recently, but it's sure to go back up. Once it does I'll make bank! The new setup could potentially pay more than my part time job! Worst case scenario LTC becomes completely worthless, I'll still have all these graphics cards I can sell.
Once I get the new rigs chuggin' I'll post up some pics. I feel like a kid at Christmas _________________ The Fall of Hammerfest - Epic Tiberian chain story
Tiberian Odyssey mapping department. Discord The Team Black Index QUICK_EDIT
This looks to be a somewhat slow endeavor but I'm setting my PC to work overnight mining coins. I'll stop it in the morning since I don't want it running all the time. If I make a few bucks, cool beans but it would probably be easier to invest with real money instead of spending all this money on equipment. _________________ KGR | AT
AZUR
Discord: theastronomer1836
Steam QUICK_EDIT
Joined: 25 Sep 2006 Location: Teamblackistan Posts: Over 9000
Posted: Wed Dec 11, 2013 5:53 am Post subject:
Sooo, I did a little Black Friday online shopping and bought a few more cards.. Now I have a frigging EMPIRE!!
Three separate machines, totaling SEVEN cards: 2x 6970, 1x 6950, and 4x 7850, mining about 2.5 MH/s. I'm hoping it'll bring in at least 1.5 LTC per day.
Just to check if that is really profitable, i made a small calculation
1 LTC = 24 € or 33 $
let your system take 2000 Watt (probably more and around something like 3000 Watt)
a kWh (kilowatt hour) costs around 0.20 € (in germany, can be cheaper/more expensive for you)
2000 Watt * 24h = 48 kWh
48*0.20 € = 9.6 €
Running the system 24h costs around 10€.
So you have to get at least 0.42 LTC per day to have a profit.
Then you also have to calculate into this the monthly Internet costs and maybe from time to time some repairs _________________ SHP Artist of Twisted Insurrection: Nod buildings
Joined: 25 Sep 2006 Location: Teamblackistan Posts: Over 9000
Posted: Wed Dec 11, 2013 6:02 pm Post subject:
LKO even though all these cards are working like a boss, each one only takes about 150w each, but def no more than 200.
7x 200 = 1400w
1400w x 24 = 33.6 kwh
33.6 x .16c USD = $5.36
This setup has rolled in .5 LTC in the 12 hours it's been together, so at current LTC rates ($30USD/LTC) I'm still making $25/day
Not to mention... I'm not going to cash in my LTC until they are at least $40 or $50 each, so in that light I'm making around $40 a day with this setup.
Overall I spent $1300 on equipment, and have about 9 LTC in my account so far (lets say $400)
900/ 40/day = 22.5 days until ROI, then after that it's money in the pocket. Not to mention the computer hardware can still be sold for almost as much as I bought it for. _________________ The Fall of Hammerfest - Epic Tiberian chain story
Tiberian Odyssey mapping department. Discord The Team Black Index QUICK_EDIT
Joined: 25 Sep 2006 Location: Teamblackistan Posts: Over 9000
Posted: Wed Dec 18, 2013 8:32 pm Post subject:
whelp.. China just bailed on Bitcoin, and all the crypto-currencies took a big hit. Looks like it might be a while before I cash in my LTC stash.
I'm sure there are a lot of bigtime investors that lost a lot of money over the whole gig.
As for me... it's just a hobby, and I ain't even mad B)
Joined: 25 Sep 2006 Location: Teamblackistan Posts: Over 9000
Posted: Thu Dec 26, 2013 9:19 pm Post subject:
LTC price just started rising again, and difficulty went down a bit. As soon as Litecoin ASICS get out, difficulty will probably multiply like crazy.
Now's the best time! _________________ The Fall of Hammerfest - Epic Tiberian chain story
Tiberian Odyssey mapping department. Discord The Team Black Index QUICK_EDIT
Joined: 25 Sep 2006 Location: Teamblackistan Posts: Over 9000
Posted: Fri Dec 27, 2013 3:39 am Post subject:
yeah I've been playing the market with the first 2 litecoins that I mined just for fun, right now they've become 1.6 litecoins
Drives me frigging crazy _________________ The Fall of Hammerfest - Epic Tiberian chain story
Tiberian Odyssey mapping department. Discord The Team Black Index QUICK_EDIT
People, tell me, I recently started trading and now I am on the same service. I have a scanty amount for trading - $ 1,500. I will try to slowly unwind up to 50 thousand. And then try to move to a more serious exchange. What methods would you recommend to buy ethereum, with Webmoney or with a bank card? It's just that I've read a lot about different exchanges and there are negative reviews everywhere. Last edited by bifiow on Sun Oct 25, 2020 8:47 am; edited 1 time in total QUICK_EDIT
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Litecoin/bitcoin mining
