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Just made my first $1 Off of Litecoin Mining

#1Tony_Biggie_PunPosted 12/7/2013 4:30:23 PM
It only took a couple of hours but now I have .063 litecoins which converts to about $1.

I'm about to put my old 5770 in my PC and start mining on both my 7950 and the 5770. Did the math, with both cards I can get about $5.50 every 24 hours.

If the price rises back to $40 a coin then thats about $11 a day. And if the prices goes on another insane Boom then thats even better.

I think more people on this board should try this thing out. Its like Folding but you get paid for it.

Stay away from mining Bitcoins though. The difficulty is two high now. What people do now is mine litecoin and other cryptocurrencies, then trade it for bitcoin then $USD
#2BowsaaPosted 12/7/2013 4:33:37 PM
How does one do this, exactly?
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#3ZachnornPosted 12/7/2013 4:34:10 PM
Now that it is winter, I might just do it. I normally do distributed computing stuff anyway as a way of generating heat since my computer generates so much heat anyway, so it won't really cost me anything.

I wonder how a 7870 would do on it.
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#4RPGMattPosted 12/7/2013 4:35:32 PM
No thanks.
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#5RPGMattPosted 12/7/2013 4:36:01 PM
Should just give out handies on the bus instead.
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#6Pal 080Posted 12/7/2013 4:36:34 PM
wtf $11 a day for wasting your time and life? What kind of peasant are you?
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#7LordSeiferPosted 12/7/2013 4:38:51 PM
i dont think you have to sit there watching it
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^ this
#8Xeeh_BitzPosted 12/7/2013 4:40:37 PM
So running your gpus at 100% for 24 hours = 11 bucks, you're probably averaging like 50 cents a day after you pay the electric bill
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#9BogePosted 12/7/2013 4:40:42 PM
Pal 080 posted...
wtf $11 a day for wasting your time and life? What kind of peasant are you?


Imagine if the price on those coins jumps to $1300 like Bitcoins. It's not $11 anymore.
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#10xanthan1Posted 12/7/2013 4:44:25 PM(edited)
Xeeh_Bitz posted...
So running your gpus at 100% for 24 hours = 11 bucks, you're probably averaging like 50 cents a day after you pay the electric bill


It also kills the GPU's lifespan.

Boge posted...
Pal 080 posted...
wtf $11 a day for wasting your time and life? What kind of peasant are you?


Imagine if the price on those coins jumps to $1300 like Bitcoins. It's not $11 anymore.


Yes but why would it jump? Also is there even a way to get that much money out besides trading with shady people in real life? There is literally nothing to make litecoins jump except idiots being idiots.