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Author Topic: Bitcoin/Litecoin Operation  (Read 14256 times)

Offline EasyQuest

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Bitcoin/Litecoin Operation
« on: August 13, 2013, 09:17:27 AM »
This is what I have been doing for the last 8 months. It started small but grew fast now I have hit the limit of spending and power consumption.

Bitcoin Mining Rig
==========





Pulling about 7.5 GH/s

Litecoin Ming Rigs
===========








Litecoin mining with Five 7970s, Two 7950, One 5870, One 5850, and One 6990

Pulling about 6.2 MH/s

Basically, Litecoin mining is one-thousandth the speed of bitcoin so 6.2 MH/s for Litecoin is 6.2 GH/s for Bitcoin.

Also, the video cards used to mining bitcoin but since ASIC came out they were switch to Litecoin for more profit.

I earn about 0.10 BTC per day with the bitcoin rig and about 6.5 to 7.2 LTC (about 0.20 BTC converted).
« Last Edit: August 13, 2013, 12:06:44 PM by EasyQuest »



Offline LonelyMaid

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Re: Bitcoin/Litecoin Operation
« Reply #1 on: August 13, 2013, 10:02:22 AM »
Still don't understand how it works :I

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Offline HAHA

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Re: Bitcoin/Litecoin Operation
« Reply #2 on: August 13, 2013, 10:10:40 AM »
@Easy
Awesome awesome setup. That is a lot of processing power in there... ever considered using it for password cracking? :P
http://www.informationweek.com/security/vulnerabilities/passwords-quickly-hacked-with-pc-graphic/226700303

@LM
Basically, you get money for doing the job of the currency. Say, I bought 2 Bitcoins (Which I did, yesterday). People all around the world are processing transactions, to verify it. They all have this hash, which is pretty big, that says the order in which people bought\sold things. First come, first served. Once you process the transaction, (mining), you get a little bit of bitcoins for doing so. There are multiple online 'wallets' for storing your bitcoins. Moving bitcoins from wallet to wallet is sending them, no matter who owns the wallet. Like for example, there is a black market website called "The Silk Road". Once I get my 2 bitcoins, at my wallet website where I bought them, I am going to send them over to my wallet on Silk Road so that I can purchase things there. At least this is bitcoins, I have the slightest idea about LTC, but I ASSUME the principle is the same.

Offline EasyQuest

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Re: Bitcoin/Litecoin Operation
« Reply #3 on: August 13, 2013, 10:26:14 AM »
I have only shown my bitcoin rig but not my litecoin rigs, once I am home I will take pictures and edit the post to show the litecoin rigs in action

I have an online bitcoin wallet on blockchain.info.

and I have a Litecoin on my main computer at home.

Mining is better than investing in bitcoin because I have hardware to sell to earn my money back if the market turns in the wrong direction. With just investing in just bitcoin and sell them when the market is high, you are risking your own money because the price of bitcoin could drop suddenly.

Offline LonelyMaid

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Re: Bitcoin/Litecoin Operation
« Reply #4 on: August 13, 2013, 10:44:45 AM »
What are those slotted stands and B cards?

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Offline EasyQuest

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Re: Bitcoin/Litecoin Operation
« Reply #5 on: August 13, 2013, 11:04:24 AM »
What are those slotted stands and B cards?

Those are ASICs (Application-specific integrated circuit), Block Erupters made by ASICMiner, they are high efficient mining hardware for bitcoin. They use very little power to mine as much as the video cards did back when video card were effective.

Offline LonelyMaid

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Re: Bitcoin/Litecoin Operation
« Reply #6 on: August 13, 2013, 11:45:10 AM »
This stuff is really fascinating.

ohi  HR
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Offline EasyQuest

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Re: Bitcoin/Litecoin Operation
« Reply #7 on: August 13, 2013, 12:07:28 PM »
This stuff is really fascinating.

Very fascinating indeed, I just updated post with pictures of my litecoin mining rigs.

Offline LonelyMaid

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Re: Bitcoin/Litecoin Operation
« Reply #8 on: August 13, 2013, 12:22:57 PM »
So uh, when you're done making millions and don't need one of those gpus, should totally send me one. :P

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Offline EasyQuest

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Re: Bitcoin/Litecoin Operation
« Reply #9 on: August 13, 2013, 01:06:52 PM »
So uh, when you're done making millions and don't need one of those gpus, should totally send me one. :P

Time and Market will tell what will happen in the next few years*

Offline impulse

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Re: Bitcoin/Litecoin Operation
« Reply #10 on: August 13, 2013, 03:30:39 PM »
Dang, what a setup.
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Offline Niggamon

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Re: Bitcoin/Litecoin Operation
« Reply #11 on: August 29, 2013, 06:05:51 AM »
I still don't get this geeky stuff.

Are you saying these lil' chips generate money so you can use it on online blackmarket bullshits?

Man, I don't want a cyber-gun that shoots fake lasers, I want a REAL gun!


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Offline HAHA

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Re: Bitcoin/Litecoin Operation
« Reply #12 on: August 29, 2013, 01:08:39 PM »
You can use it on the blackmarkets, OR you can cash it out for real money at the exchange rate. Last I checked it was like 118 USD is one bitcoin.

Offline Niggamon

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Re: Bitcoin/Litecoin Operation
« Reply #13 on: August 29, 2013, 05:17:05 PM »
That's a big polite "Goodbye workers..." in the face.

Next time, it will be "Fuck you workers, we will kill you all and then eat a lot of stuff, no exercise and just watch stupid shit on TV"


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Offline Kesild1231

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Re: Bitcoin/Litecoin Operation
« Reply #14 on: September 03, 2013, 02:17:43 PM »
This is not efficient and you won't get your money back unless you do this for YEARS and even then you have all of that electricity to pay for. Overall you are losing a LOT more than getting anything back. These things unusually have this problem, it's a challenge to find a positive one. And those graphics cards, I mean two 7950? That's 1 grand right there and it's not even giving that much power, instead it's using a shit ton of power.
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Offline LonelyMaid

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Re: Bitcoin/Litecoin Operation
« Reply #15 on: September 03, 2013, 11:16:00 PM »
This is not efficient and you won't get your money back unless you do this for YEARS and even then you have all of that electricity to pay for. Overall you are losing a LOT more than getting anything back. These things unusually have this problem, it's a challenge to find a positive one. And those graphics cards, I mean two 7950? That's 1 grand right there and it's not even giving that much power, instead it's using a shit ton of power.
He profits at $2.50 a day. L2R

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Offline Kesild1231

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Re: Bitcoin/Litecoin Operation
« Reply #16 on: September 04, 2013, 04:52:27 PM »
This is not efficient and you won't get your money back unless you do this for YEARS and even then you have all of that electricity to pay for. Overall you are losing a LOT more than getting anything back. These things unusually have this problem, it's a challenge to find a positive one. And those graphics cards, I mean two 7950? That's 1 grand right there and it's not even giving that much power, instead it's using a shit ton of power.
He profits at $2.50 a day. L2R

Yes I read it very well thank you, that money goes to the electricity spent and still would have to pay more. And then you also have to account for all of that money wasted on the equipment. He makes $2.50 a day but the electricity cost and the cost for the material will keep him in the hole.

He also never says profit, he said he makes it.


Sell it all back Easyquest, you are losing money here.
« Last Edit: September 04, 2013, 04:58:02 PM by Kesild1231 »
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Offline LonelyMaid

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Re: Bitcoin/Litecoin Operation
« Reply #17 on: September 04, 2013, 07:07:58 PM »
LM doesn't like me because I fail at being a know it all.
I said he makes a profit. Therefore he makes a profit. There's no reason for me to explain it to the likes of you.

ohi  HR
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Offline Kesild1231

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Re: Bitcoin/Litecoin Operation
« Reply #18 on: September 04, 2013, 07:33:45 PM »
LM doesn't like me because I fail at being a know it all.
I said he makes a profit. Therefore he makes a profit. There's no reason for me to explain it to the likes of you.

Wow, really? What a quote :|

I don't think you counted for everything and the "L2R" part didn't make any sense since it wasn't anywhere.

But seriously recheck the math :|, it's a bad investment and too much money is being loss.

I never knew you considered me as a know it all :|
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Offline AnTi ZoMbIe

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Re: Bitcoin/Litecoin Operation
« Reply #19 on: March 20, 2018, 07:41:53 AM »
I hope you kept the bitcoin since 0.10 BTC a day would convert to about 1k €  today.
You fell in love with my flowers and not my roots so when autumn came, you just left me.


 

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