I recently bought an GTX 760, and wanted to try out mining either bitcoins or litecoins. I know AMD is better for mining and all that but I still want to try it anyway. So - should I mine bitcoins or litecoins with my GTX 760?
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1 Answer
LTC. GPU mining is useless for BTC with the actual difficulty, you need an ASIC to do profitable BTC mining.
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But what are the real advantages/disadvantages of both of them? Is it worth getting into mining? Commented Jan 27, 2014 at 17:40
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Advantages of BTC is that its use is starting to rally, so as more and more stores start accepting it, its price will rise. LTC on the other hand has a price around 37$, question is ... will it go as high as BTC has gone? That question is a bet you must place, and it is up to you to decide if you invest in HW to mine those coins or not. IMO it is more profitable to buy coins than mine them. KNCminer (kncminer.com) is a great BTC miner HW retailer,I bought my miner there (275GH) it is ending its life in a few months,and making numbers it would have been more profitable to buy coins.– YoMismoCommented Jan 28, 2014 at 7:59
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So why would you buy coins versus mining them? What is the difference? And also what a roundabouts are the odds towards wether or not lite will go as far as bit has. Commented Jan 28, 2014 at 10:52
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For mining (Bitcoins in my case) you need a specific HW. That HW is not waiting on a shelf in a store for you to buy it, you have to preorder and wait a few months for it to arrive since it is leading-edge technology in actual development. So you make asumptions as to what will the difficulty be when your machine arrives so that you can forsee the number of coins you are going to be able to mine. Make your calculations as to what will your possible profit be, AND substract the electricity bills to your profit (500W 24/7 in my case), and have no delays with the delivery of the product.– YoMismoCommented Jan 28, 2014 at 12:04
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When I bought my machine, you could have paid it either with fiat or bitcoins. There are people who bought with bitcoins that will never make those bitcoins back, instead people that paied with fiat has had good profit. In my case the coins I am going to be able to mine equals those I could have bought at that time without the risks involved in the buying. Instead, buying bitcoins is as simple as opening an online account at some exchange, transfer the fiat you want to change and buy your bitcoins. That's it.– YoMismoCommented Jan 28, 2014 at 12:12