I would like to get into cryptocurrency mining, You can say it isn't profitable, that it isn't worth it etc, but my heart is set into it and I'm ready to invest! Here is what I need: Advice on how to proceed.

Dec 04, 2013 **UPDATE** How To Mine Litecoin On Windows (2018): https. Burnside's litecoin mining pool cpuminer thread & download https. Lately, I’ve been trying to earn some money by mining the Bitcoin alternatives, Litecoin. I made this Guide for How to mine Litecoins on Windows. Easy GUI Litecoin.

Because I'm sort of at a loss. I'm of course trying to make the most informed decision possible, the best hardware at the best prices of course, which is why I might be waiting till black friday (unless you guys think that there aren't many good deals? I haven't been able to see much from anyone selling pc parts), so I'm hoping you guys could enlighten me if you are in the know about any potential or confirmed upcoming deals about anything like or similar to what I'm interested in. So what I figure I'll need: POWER SUPPLY: a BIG and efficient power supply.

I'm thinking a 1250w gold 80 plus deal (or platinum, depends on price) or possibly a 1600w. I don't mind paying a little extra as long as its more reliable/warrantied longer and saves money on electricity bill. My electricity is a bit expensive ($.15/kwh). CPU: What I need here is something that doesn't draw a lot of power, and is inexpensive.

It can really be the crappiest cpu ever, but energy efficient (computer is for mining only, nothing else). Can't justify spending a ton of money for a cpu that sees such limited use, you know? GPU: For mining I've been hearing 7950, 7950, 7950 all the time, so thats what I'm thinking. MSI, Sapphire, and Gigabyte seem to be the favorites.

I'd like to get the triple/double fan versions if possible. Also, solid warranties are pretty important.

I intend to run these babies 24/7. I'll try to figure out how to undervolt them, MOBO: This is where I could really use some help.

What I want is the best dollar/pci slot value. I need to fill this baby with GPUS, I'm thinking 4 slots min and interested in seeing about 6 that I can use. I'll be using risers to not have it all melt into a super gloopy mess. They don't all have to be the 16x as i don't need them for playing games, and theres some deal with risers that I won't even pretend to understand but I'm hoping someone here does. I guess I have to do some funky crud with windows to get it to run 6 gpus and I don't wanna pay the extra money for Windows so linux it is. Case: Figure I'll do the milk crate deal or something, case is a bad idea since the graphics cards might melt.

RAM: always forget about this. I guess I don't need that much to mine litecoin, supposedly I'll be good to go with a 4gb 1333mhz? Whats the best brands to be checking for this. HD: Don't need one, i'll be booting up from a usb drive I think. Monitor: TV keyboard/mouse: i'm covered. So if you can either predict the future on what will likely go on sale or have realistic expectations on what this thing will cost (1250w/4gpus or 1600w ish with 6 gpus) assuming I wait until black friday and cyber monday, please chime in! Also, i wanted to put this under build but i guess systems is like the same thing.

So sorry if it is wrongly placed. Anyways, I look forward to the comments. I can accept criticism, and last time I was dissuaded by this forum, but I'm hoping now we have a better comprehension of whats going on here. Just wanted to share my gratitude with this community that has been quite helpful to me in the past. Thanks guys, you're great. Thank you for your advice. However, if you really wanted to get into bitcoin mining you wouldn't deal with butterfly labs since they offer now overpriced hashing power compared to some of their competitors, charging more for less than xtreme miners.

While you may be ranked as a mobo and cpu authority, I question your supposed vast intellect in things related to bitcoin. Having said that, I'm going ahead with it and building a rig. I would like to hear some opinions on this. PUAMD Sempron 145 2.8GHz Single-Core $35.75 MotherboardGigabyte GA-990FXA-UD3 ATX AM3+ $94.99 MemoryG.Skill Sniper Series 8GB (2 x 4GB) DDR3-2133 $52.99 Video CardSapphire Radeon HD 7950 3GB $170.66 Sapphire Radeon HD 7950 3GB $170.66 Sapphire Radeon HD 7950 3GB $170.66 Sapphire Radeon HD 7950 3GB $170.66 Power SupplyEVGA 1300W ATX12V / EPS12V $184.99 Case: Corsair Carbide Series Air 540 (CC-9011030-WW) Black Steel / Plastic ATX High Airflow Cube Case - 139.99. I promise you 100% you will spend more money in electricity then you will make back.

That rig would have been successful in 2010. I know people with rigs with 50+ GPUs who were profitable 1.5 years ago that now cannot even cover their electricity bills. It simply is not worth it as the difficulty curve for mining per equation has caught up with technology. People with a single GPU made $50,000 in 2009 but it has become so exponentially difficult now, that you will no see any profit. I would like to get into cryptocurrency mining, You can say it isn't profitable, that it isn't worth it etc, but my heart is set into it and I'm ready to invest! Here is what I need: Advice on how to proceed. Because I'm sort of at a loss.

I found the 6 GPU build guide on pretty useful. Shop around for parts. Sometimes they are cheaper at Amazon and other times Newegg has the best price. And ignore the naysayers. People were saying this 9 months ago and let's just say I'm glad I didn't listen to 'em! You can ruin 6 7950s and will see nothing in return.

You won't even make enough to cover your power bill. You need to buy a machine built for this.

NOT build a computer to do it. At.15/kwh you will NEVER make enough to even cover electricity. This is a terrible idea. To see ANY results at all, you need to buy ALOT of these cards: The 600GH card. Litecoin is not bitcoin, you fail.

My setup here Eat it. Litecoin is not bitcoin. Moofactory wins at reading comprehension.

But you might do even better if you sink this into mining newer crypto currencies with even lower difficulty levels than litecoin. As the value of these seems to be rising constantly, although it is always a risk. Ignore the 'authority' on cpus and mobos lol, he seems to have skimmed over this subject. First of all welome to mining! It CAN BE profitable, and is great fun but there is a formula for success nowadays with gpus, first of all forget bitcoin!! Its impossible to mine without an asic nowadays, the way to make money from them now is to mine altcoins, any coin you like aslong as you can sell it! These are very different from bitcoin in that bitcoin is an sha-256 encryption and most others are now scrypt.

The reason bieng asics cant mine scrypt! Meaning its back to gpus! Good news for you lol. Now the basic idea is you mine litecoin. However this can be very boring and i like to have bitcoin in the bank. So to improve on that you immediatly trade them to btc. Except this isnt the most profitable way.

The most profitable way is to mine the coin with the least difficulty at that particular time. Except they only stay the most profitable for a few minutes! And you cant sit there constantly changing pools 24/7. So to improve further still you can mine with something like multipool that will autoswitch to the most profitable coin, giving u around 30 ish different coins that you then have to trade on crytpsy or coinex. This is fun but it can get tiresome after a while, however you can input API keys in your multipool and have them sent straight to cryptsy and then sell them to autosell, this saves you a lot of work, or use middlecoin which does all the work for you, not as profitable as trading yourself but easier! So yes you can make money.

I use 4 7990's and get 4700 kh out of them, i made one btc beetween january 10th and February 2nd. So at todays prices around 900 dollars every twenty ish days. Now no offence to the 'authority' on here, but this is definatly profitable, using this method most gpus should pay for themselves in around three months.after that its all yours! If i can be any more help please let me no id be glad to help. Thank you for your advice. However, if you really wanted to get into bitcoin mining you wouldn't deal with butterfly labs since they offer now overpriced hashing power compared to some of their competitors, charging more for less than xtreme miners.

While you may be ranked as a mobo and cpu authority, I question your supposed vast intellect in things related to bitcoin. Having said that, I'm going ahead with it and building a rig.

I would like to hear some opinions on this. PUAMD Sempron 145 2.8GHz Single-Core $35.75 MotherboardGigabyte GA-990FXA-UD3 ATX AM3+ $94.99 MemoryG.Skill Sniper Series 8GB (2 x 4GB) DDR3-2133 $52.99 Video CardSapphire Radeon HD 7950 3GB $170.66 Sapphire Radeon HD 7950 3GB $170.66 Sapphire Radeon HD 7950 3GB $170.66 Sapphire Radeon HD 7950 3GB $170.66 Power SupplyEVGA 1300W ATX12V / EPS12V $184.99 Case: Corsair Carbide Series Air 540 (CC-9011030-WW) Black Steel / Plastic ATX High Airflow Cube Case - 139.99. Ignore the 'authority' on cpus and mobos lol, he seems to have skimmed over this subject. First of all welome to mining! It CAN BE profitable, and is great fun but there is a formula for success nowadays with gpus, first of all forget bitcoin!! Its impossible to mine without an asic nowadays, the way to make money from them now is to mine altcoins, any coin you like aslong as you can sell it!

These are very different from bitcoin in that bitcoin is an sha-256 encryption and most others are now scrypt. The reason bieng asics cant mine scrypt!

Meaning its back to gpus! Good news for you lol. Now the basic idea is you mine litecoin. However this can be very boring and i like to have bitcoin in the bank. So to improve on that you immediatly trade them to btc. Except this isnt the most profitable way.

The most profitable way is to mine the coin with the least difficulty at that particular time. Except they only stay the most profitable for a few minutes! And you cant sit there constantly changing pools 24/7.

So to improve further still you can mine with something like multipool that will autoswitch to the most profitable coin, giving u around 30 ish different coins that you then have to trade on crytpsy or coinex. This is fun but it can get tiresome after a while, however you can input API keys in your multipool and have them sent straight to cryptsy and then sell them to autosell, this saves you a lot of work, or use middlecoin which does all the work for you, not as profitable as trading yourself but easier! So yes you can make money. I use 4 7990's and get 4700 kh out of them, i made one btc beetween january 10th and February 2nd. So at todays prices around 900 dollars every twenty ish days. Now no offence to the 'authority' on here, but this is definatly profitable, using this method most gpus should pay for themselves in around three months.after that its all yours!

If i can be any more help please let me no id be glad to help If I may ask why GPUs and not CPUs? I have an HP ML350 G6 here with two 8 core processors, couldn't that work for mining some of the alt coins? Just confused on why someone would go with a single core processor and put the load on the GPUs? Thanks in advance.

The answer to that one is. To hash you need to perform many calculations at the same time,so say you have an 8-core processor (cpu) that gives you 8 theoretical threads,so you can do 8 things at once, great for multitasking in windows, pretty useless for mining!now if you take a hd7990.it has 40000 odd threads. Thats 40000 simplish calculations simultaneously, you would need hundreds and hundreds of cpus to equal even one hd7990!the reason bieng they have to do many calculations but with little load on each thread (for graphic display purposes) hope this answers your question.

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Related Subreddits: • • • • • • • • • • • • • Where to Buy/Sell Litecoin: • • - USD, GBP, EUR • USD, EUR, KRW • VaultofSatoshi NOW CLOSED • - AUD, CAD • - BTC, CAD • - BTC, USD • - BTC, USD CURRENTLY INACTIVE • - BTC, NIS • - GBP • X-BT NOW CLOSED • Bter INACTIVE Join us on IRC: Download: Join: irc.freenode.net #litecoinmining. As someone previously said, You would be better off mining a different coin than Litecoin(I am curently mining Vertcoin, Monacoin, and Bitcoin-Gold on 3 of my computers and actually making a small profit.

I also have an older ASIC miner mining Bitcoin and making a few dollars a day.) Mining is NOT hard but there are a few steps involved. You need a fairly decent graphics card to make it worth your while.

I have a couple of geforce 1060's and a couple of 1050's. You need to create a wallet on an exchange for EACH coin you plan to mine. I use Bittrex. You need to pick a Mining Pool because mining solo is rarely profitable in the long run. Lots of Pools out there. But I use MiningPoolHub because they have pools on all the coins I was interested in. MPH actually has quick start guides and links for most of the coins.4.

You need to install or download the script you plan to use. For Vert and Monacoin I use ccminer for Bitcoin Gold I use EWBF. Like I said there are quick start guides. Long and Short.

You have to set up your Exchange wallets. Input that wallet info on your pool. Get your Pool Mining addresses and edit the script with the address, username, and worker name. Fire up the script and wait for the payouts.

Lots of steps. But not difficult.