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Is it worth mining Litecoins and then exchange them for Bitcoins (because I am not sure if there will be space for more crypto currencies in the future)?

I can get about 25k hash/sec by CPU mining on my laptop, so this turns in something about 0.1 LTC per day which is 0.06 BTC per month (current exchange rate is 1:50). Does my approach make any sense or is there nowadays even any way to mine with everage/above average hardware?

  • If you plan to sell the coins you can only do it at a few places right now, BTC, Litetree, vircurex. Only a few of these Exchanges do litecoins. – user6073 Jul 31 '13 at 15:41
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I wouldn't suggest to mine with your laptop further more I wouldn't mine with a CPU any more. Your laptop can damage quite fast, because mining is very hardware intensive and it can overheat your components. After some time they will get damaged because they are not build to hold that power over a long period of time.

Your hashrate is quite low. With litecoins you are not going to come very far. You better use a graphics card (GPU) to mine litecoins or if you can't afford one, switch to another coin. See the links below for other coins and hardware comparison.

  • Thanks for answer, but still - is mining other currencies makes sense or is it a dead end? – Petr Mensik May 19 '13 at 21:01
  • @Petr it depends on your hardware. I would say it makes sense for some time, but when competition gets to high it doesn't. Electricity cost is the most important factor. If you don't make break even it doen't make sense – Aley May 19 '13 at 22:12
  • yes, I get this from technical perspective but I men rather market perspective - that means if I will let's say 1000 LTC next year, will there somebody who is going buy them? – Petr Mensik May 21 '13 at 7:14
  • @PetrMensik you never know. But the probability that LTCs rise in value is high I guess. It depends on the public exposure. The more people need it the more value it will have. – Aley May 21 '13 at 11:23
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I think that is an excellent idea since the exchange rate between Dollar and Bitcoin is not as stable as the one between Litecoin and Bitcoin.

Many people have stated that Bitcoin will not be the only player in the future and I believe so. Some crypto-currencies might apply better for different markets in the future (Litecoin or Feathercoin might be more viable in 3rd world countries)

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http://coinpolice.com/coin-comparison/ shows you which coin is currently the most profitable to mine. This is based off it's exchange rate to BTC. I highly recommend you try out some alt coins and dump them on exchanges. It's also fun :)

  • Hi Easycoind! Is this your site? If it is, please mention it, it is probably downvoted because people consider it spam. – D.H. - bitcoin.se Sep 16 '13 at 20:24

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