| Vancouver Off-Topic / Current Events The off-topic forum for Vancouver, funnies, non-auto centered discussions, WORK SAFE. While the rules are more relaxed here, there are still rules. Please refer to sticky thread in this forum. |
 | | 
04-05-2013, 06:31 AM
|
#1 | | Hacked RS to become a mod
Join Date: Feb 2002 Location: Sunny Hong Kong
Posts: 54,675
Thanked 25,592 Times in 8,960 Posts
Failed 1,572 Times in 718 Posts
| Litecoin - the GPU Mining Alternative to Bitcoin
As we all know, mining Bitcoin is dead unless you have ASIC hardware. Well it's not quite there yet, but it will be. And because Litecoin is so new, it might be better to switch now than later, when GPU Bitcoin mining does eventually die.
I wrote an article that goes into why, and I really think there is a good reason for there to be a supplement to Bitcoin. Litecoin, the GPU Mining Alternative to Bitcoin
It also uses less power... If you have a GPU to spare, I would say go for it! The people who got into Bitcoin at the very beginning are very rich now. If you are kicking yourself for not participating, here is your second chance  | 
|  | |
04-05-2013, 06:43 AM
|
#2 | | Say! Say! Say!
Join Date: Aug 2005 Location: Japan
Posts: 15,528
Thanked 3,384 Times in 1,494 Posts
Failed 246 Times in 65 Posts
|
Thanks for replying to my PM about it 
__________________ Quote: | Owner of Vansterdam's 420th thanks. OH YEAUHHH. | Quote:
Originally Posted by 89blkcivic  Did I tell you guys black is my favourite colour? My Ridgeline is black. My Honda Fit is black. Wish my dick was black........ LOL. | | |
| | |
04-05-2013, 08:10 AM
|
#3 | | Revscene.net has a homepage?!
Join Date: May 2008 Location: vancouver
Posts: 1,243
Thanked 1,619 Times in 378 Posts
Failed 571 Times in 114 Posts
|
can you give some sort of explanation as the what this is?
i looked on wikipedia but it doesnt make sense to me.
you just leave your computer on and let your GPU's stress test and you get bitcoins in exchange?
then you sell your bitcoins for real money?
what do you buy with bitcoins? and why would people even want bitcoins?
| |
| | |
04-05-2013, 08:48 AM
|
#4 | | Hacked RS to become a mod
Join Date: Feb 2002 Location: Sunny Hong Kong
Posts: 54,675
Thanked 25,592 Times in 8,960 Posts
Failed 1,572 Times in 718 Posts
| Quote:
Originally Posted by Razor Ramon HG Thanks for replying to my PM about it | lol sorry, I was going to give you a link to my article when I was done, then I forgot Quote:
Originally Posted by Glove can you give some sort of explanation as the what this is?
i looked on wikipedia but it doesnt make sense to me.
you just leave your computer on and let your GPU's stress test and you get bitcoins in exchange?
then you sell your bitcoins for real money?
what do you buy with bitcoins? and why would people even want bitcoins? | Yes, you mine with your GPU. Beware, as some GPUs don't mine well enough to make the energy cost worthwhile.
What you do with your bitcoin is up to you. There is a very good chance that it will replace a lot of currencies - who knows, maybe all of them? It depends on how shitty the world gets.
If you'd been mining and selling when it was $1 or whatever, you'd be kicking yourself now that it's in the $140 range. But the end ratio could be upwards of $10K per 1 BTC (remember it is divisible by 8 decimal points.. so a lot of transactions would be like 0.00005 BTC)... but then once it gets to that point, who wants USD anymore?
Litecoin aims to be the 'silver' to Bitcoin's 'gold'. There is more of it, and it is easier to mine. It's like having a silver coin to go along with your gold coin. It will buy smaller things, and be faster to use.
Or you could wait and try selling it.. right now it's like $4 USD per LTC, but I think the actual value is more like $15 or so. So if anything, buy now, sell when it reaches proper value.
Since it will be so easy for people who accept BTC to add LTC, it won't have the super long adoption wait BTC has.
| |
| | |
04-05-2013, 08:51 AM
|
#5 | | I have named my kids VIC and VLS
Join Date: Oct 2001
Posts: 39,479
Thanked 16,089 Times in 6,561 Posts
Failed 2,165 Times in 747 Posts
|
What kind of card would you need to effectively mine? I've got a 2gb 6970 I believe
Posted via RS Mobile | |
| | |
04-05-2013, 08:56 AM
|
#6 | | I don't get it
Join Date: Sep 2006 Location: Vancouver
Posts: 409
Thanked 81 Times in 12 Posts
Failed 3 Times in 2 Posts
|
use GUIMINER-scrypt. Has presets for ATI cards.
| |
| | |
04-05-2013, 08:57 AM
|
#7 | | MOD MOD MOD MOD MOD
Join Date: Dec 2003 Location: vancouver
Posts: 5,918
Thanked 3,541 Times in 1,174 Posts
Failed 212 Times in 81 Posts
|
So i have a high end computer sitting around doing nothing. How do I set it up to make some of this money?
__________________ Quote: | [03-07, 03:26] Yodamaster - The feeling when you quickly insert without hitting the sides | | |
| | |
04-05-2013, 08:58 AM
|
#8 | | Hacked RS to become a mod
Join Date: Feb 2002 Location: Sunny Hong Kong
Posts: 54,675
Thanked 25,592 Times in 8,960 Posts
Failed 1,572 Times in 718 Posts
| Quote:
Originally Posted by Hondaracer What kind of card would you need to effectively mine? I've got a 2gb 6970 I believe
Posted via RS Mobile | You can do some serious LTC mining with that. One benefit of LTC is that it uses less power too. Load up GUIMiner and see what you get. Use this page for preset recommendations.
| |
| | |
04-05-2013, 09:32 AM
|
#9 | | I WANT MY 10 YEARS BACK FROM RS.net!
Join Date: Oct 2007 Location: Vancouver BC
Posts: 22,163
Thanked 9,951 Times in 3,944 Posts
Failed 881 Times in 421 Posts
|
does CFX scale almost linearly when you mine? WTB 6990/7990 | |
| | |
04-05-2013, 09:52 AM
|
#10 | | Hacked RS to become a mod
Join Date: Feb 2002 Location: Sunny Hong Kong
Posts: 54,675
Thanked 25,592 Times in 8,960 Posts
Failed 1,572 Times in 718 Posts
|
Yup it's pretty much linear AFAIK. The more ram and processors you throw at it, the faster it will go. It's not like SLI where the cores have to wait for each other to display the next frame.
| |
| | |
04-05-2013, 09:53 AM
|
#11 | | Trollollolloing RS sine 2005
Join Date: Feb 2005 Location: Richmond
Posts: 7,093
Thanked 2,471 Times in 704 Posts
Failed 473 Times in 132 Posts
|
well time to go to the ncix warehouse sale 
__________________ Quote:
Originally Posted by MajinHurricane I had some girl come into the busser station the other day trying to make out with every staff member and then pull down her pants and asked for someone to stick a dick in her (at least she shaved). | Quote:
Originally Posted by 1exotic Vtec doesn't kick in on Reverse. | Quote:
Originally Posted by Ulic Qel-Droma its like.. oh yeah oh yeah.. ohhhh yeah... OOoooOohh... why's it suddenly feel a bit better... ohhhh yeahh... ohhh...oh..fuck... it probably ripped. | | |
| | |
04-05-2013, 09:54 AM
|
#12 | | I contribute to threads in the offtopic forum
Join Date: Oct 2009 Location: home
Posts: 2,837
Thanked 3,854 Times in 886 Posts
Failed 1,606 Times in 378 Posts
|
Too much calculation in the power efficiency to output... imagine you fry your video card gonna cost you more than you can mine
| |
| | |
04-05-2013, 09:56 AM
|
#13 | | Hacked RS to become a mod
Join Date: Feb 2002 Location: Sunny Hong Kong
Posts: 54,675
Thanked 25,592 Times in 8,960 Posts
Failed 1,572 Times in 718 Posts
| Quote:
Originally Posted by EmperorIS Too much calculation in the power efficiency to output... imagine you fry your video card gonna cost you more than you can mine | wat
| |
| | |
04-05-2013, 10:17 AM
|
#14 | | What hasn't Killed me, has made me more tolerant of RS!
Join Date: Aug 2012 Location: Vancouver
Posts: 181
Thanked 109 Times in 44 Posts
Failed 185 Times in 32 Posts
| Quote:
Originally Posted by EmperorIS Too much calculation in the power efficiency to output... imagine you fry your video card gonna cost you more than you can mine | You can't fry your video card n00b, it has safeguards against that.
| |
| | |
04-05-2013, 11:21 AM
|
#15 | | I keep RS good
Join Date: May 2001 Location: Cosmos
Posts: 28,736
Thanked 5,599 Times in 1,524 Posts
Failed 889 Times in 301 Posts
|
where can i use litecoin?
are there exchanges? like mtgox
| |
| | |
04-05-2013, 11:32 AM
|
#16 | | Where's my RS Christmas Lobster?!
Join Date: Apr 2008 Location: Victoria
Posts: 881
Thanked 448 Times in 155 Posts
Failed 78 Times in 21 Posts
|
This is something that interests me, but as a student, I don't really have the money to spend on a half decent computer to set aside for mining, and I'm willing to bet it'd fry my laptop...
I also don't understand the process 100%. It seems to me, your computer solves complex algorithms through some method, and is "rewarded" with say, a fraction of one LTC? Which can then be traded for real money?
__________________
PSN: gThorpe92 Quote: |
Obviously, you're suffering wankers cramp.
| | |
| | |
04-05-2013, 11:47 AM
|
#17 | | I contribute to threads in the offtopic forum
Join Date: Oct 2009 Location: home
Posts: 2,837
Thanked 3,854 Times in 886 Posts
Failed 1,606 Times in 378 Posts
| Quote:
Originally Posted by JaPoola You can't fry your video card n00b, it has safeguards against that. | you are stressing your video card 24/7 mining particularly if you overclock them and dont provide ample cooling
your chances of killing your card goes up lolsafeguard
| |
| | |
04-05-2013, 11:56 AM
|
#18 | | I Will not Admit my Addiction to RS
Join Date: May 2011 Location: vancouver
Posts: 532
Thanked 422 Times in 70 Posts
Failed 68 Times in 16 Posts
|
so how does one get started?
| |
| | |
04-05-2013, 12:17 PM
|
#19 | | What hasn't Killed me, has made me more tolerant of RS!
Join Date: Aug 2012 Location: Vancouver
Posts: 181
Thanked 109 Times in 44 Posts
Failed 185 Times in 32 Posts
| Quote:
Originally Posted by EmperorIS you are stressing your video card 24/7 mining particularly if you overclock them and dont provide ample cooling
your chances of killing your card goes up lolsafeguard | If you overclock and don't provide adequate cooling then that's your fault n00b.
| |
| | |
04-05-2013, 12:24 PM
|
#20 | | OMGWTFBBQ is a common word I say everyday
Join Date: Nov 2010 Location: /
Posts: 5,205
Thanked 2,884 Times in 1,135 Posts
Failed 256 Times in 73 Posts
|
Let's say i buy litecoin how do i save it. do i have like a e wallet or is it a code lol stupid question!
Last edited by Gerbs; 04-05-2013 at 02:22 PM.
| |
| | |
04-05-2013, 12:45 PM
|
#21 | | I don't get it either
Join Date: May 2005 Location: Richmond
Posts: 2,935
Thanked 198 Times in 62 Posts
Failed 169 Times in 28 Posts
|
how do you sell litecoins for bitcoins?
| |
| | |
04-05-2013, 01:05 PM
|
#22 | | What hasn't Killed me, has made me more tolerant of RS!
Join Date: Aug 2012 Location: Vancouver
Posts: 181
Thanked 109 Times in 44 Posts
Failed 185 Times in 32 Posts
|
let me Google that for you.... wait.... NOT!
| |
| | |
04-05-2013, 01:13 PM
|
#23 | | Rs has made me the man i am today!
Join Date: Aug 2002 Location: 604
Posts: 3,023
Thanked 688 Times in 190 Posts
Failed 22 Times in 10 Posts
|
Because of the modified difficulty (bitcoin mining is a bit like gold mining) I don't see litecoin having massive spikes in value like bitcoin. (ex: $25 > $125 in a few months).
| |
| | |
04-05-2013, 01:20 PM
|
#24 | | I don't get it either
Join Date: May 2005 Location: Richmond
Posts: 2,935
Thanked 198 Times in 62 Posts
Failed 169 Times in 28 Posts
| | |
| | |
04-05-2013, 03:01 PM
|
#25 | | I *Fwap* *Fwap* *Fwap* to RS
Join Date: May 2007 Location: Burnaby
Posts: 1,518
Thanked 1,536 Times in 427 Posts
Failed 170 Times in 59 Posts
| Quote:
Originally Posted by SkinnyPupp You can do some serious LTC mining with that. One benefit of LTC is that it uses less power too. Load up GUIMiner and see what you get. Use this page for preset recommendations. | theres no preset for gtx670  | |
| | | |
Posting Rules
| You may not post new threads You may not post replies You may not post attachments You may not edit your posts
HTML code is Off
| | |
All times are GMT -8. The time now is 05:05 AM.
|
You are currently viewing our boards as a guest which gives you limited access to view most discussions and access our other features. By joining our free community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is fast, simple and absolutely free so please, join our community today!
The banners on the left side and below do not show for registered users!
