LiteCoin Mining - Hobby/Project 2014

Yowzer

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LiteCoin Mining - Hobby/Project 2014

Seriously considering doing this as a project for 2014. Used to run folding@home where I contributed processing time to SETI & medical research through Bionc.

I have 2 extra workplace PC lying around. A pentium D about 7-8 years old & core 2 duo about 4-5 years old. Mid range systems and graphics card at that time.

I don't intend to upgrade anything.

I will be running them in our warehouse where the rental is already inclusive of electricity.

So electricity = $0
Only Internet bandwidth is needed = $10 per month.

I will let them run 24/7.
What can I expect after on 30 June 2014 if I start on 01 jan 2014?

TIA
 

Jian19

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Not sure but gpu plays a bigger role in mining..wad gfx u using ?
 

aptget

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Gfx card plays a big roll, based on your specs given, we assume its onboard gfx ? your hash is going to be like 0.5 or lower. using just your CPU, hash is 0.1

But if you use a gfx like say HD7850, hash will be 250 or slightly higher. you need to invest more. some people are going with FOUR gfx card HD7970

I honestly still don't get how you're going to mine. I have test on my rig for 1 week 24/7. just to see "how much" i would get... and honestly, I got NOTHING.
 
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Yowzer

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Not onboard graphics but old one like 5750 or something. Just to confirm this is LiteCoin, not bitcoin. And you got $0 after 1 week with a good graphics card? This is demoralizing!
 

Jian19

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I think can de but not sure how much u can get..

Cos more and more ppl mine...and they use 2-3 gpu like 7950 to mine...
 

localITguy

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must have good graphics, i doubt you can get any profit out of it. if you got profuit , let mw know and i will start mining
 

Assault

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use onboard graphics from 7-8 years old PC want to get something from mining...?

time... to... wake... up! :s13::s13:
 

Yowzer

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Not onboard but older graphics card. I can even add in a 3rd or 4th old pc. Friends willing to donate.

Don't tell me 4 old pcs running simultaneously 24/7 still cannot get profits? I'm only targeting $30 per month.

I know high end rigs need to generate a lot coz still have to cover back the setup cost.
 

aptget

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Not onboard graphics but old one like 5750 or something. Just to confirm this is LiteCoin, not bitcoin. And you got $0 after 1 week with a good graphics card? This is demoralizing!

my bad. i checked my account and it seems i DO have some bitcoins after leaving it for 1 week.
 

incesto

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if you are in for some cash, get yourself 79xx. If you get lucky with alt coin, for e.g. doge coin, you can mine 300k/days with a 7970 at the launch day then sell them on exchanges for 0.3-0.5 btc ($200-$350)
otherwise, dont even think about it.
 

Yowzer

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Im mainly doing it for fun. Able to make some spare change is a bonus. Coz I have a few old PCs accessible, as I suspect many of you do also and they are just left lying around.

The advantage for my plan is electricity is free. And I can scale like a poor man's version of parallel processing as I get my hands on more systems. All of them can share a single wifi hotspot for internet connectivity as I understand it requires very low bandwidth.

So my set up cost is just time & effort. Virtually zero hardware cost. Bandwidth cost $10 per month.


Hardcore version below :eek:

For his case, he is making an overall loss coz his initial investment cost is too high. Furthermore, what is he going to do with his hardware once he stops mining. Arguably if i can even make $10, I'm doing better than him:s13:

Edit. This was 5 months ago. Now LTC is $22USD per coin. He is in profits liao.

Three Months as a Litecoin Farmer - Reckoner

IMG_06501.jpg


IMG_06251.jpg
 
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Yowzer

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Made a quick spreadsheet; hope my calculations correct.
nb. online calculators assume fixed difficulty which is misleading

With 10% margin error
Current difficulty - 2849.54 (28 Dec 2013)
With difficult increasing 8.5% every 3.5 days

1 month later
Using single GPU 5750 (hash@196KH)
1.57 LTC created ~ SGD $43.97

1 month later
Using single GPU 7870 Tahiti LE (hash@320KH)
2.57 LTC created ~ SGD $72.15

This is single GPUs. Unless i cocked up the calculations, definitely doable project :)
If I use 4 x 5750 = approximately $175 per month (but decreasing every month)

Can any mining experts help to check on this, TIA.
 

icer1985

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Made a quick spreadsheet; hope my calculations correct.
nb. online calculators assume fixed difficulty which is misleading

With 10% margin error
Current difficulty - 2849.54 (28 Dec 2013)
With difficult increasing 8.5% every 3.5 days

1 month later
Using single GPU 5750 (hash@196KH)
1.57 LTC created ~ SGD $43.97

1 month later
Using single GPU 7870 Tahiti LE (hash@320KH)
2.57 LTC created ~ SGD $72.15

This is single GPUs. Unless i cocked up the calculations, definitely doable project :)
If I use 4 x 5750 = approximately $175 per month (but decreasing every month)

Can any mining experts help to check on this, TIA.


how about the cost of electricity? then have to consider the roi cost? the longer u take to roi...the lesser u mine....unless the price for ltc suddenly jack up to 100 usd.....any expert can share their view?
 
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