So, I just starting giving cryptocurrency another shot. I'm trying to mine Litecoin with CGMiner and give-me-coins. I seem to have gotten everything set up correctly and according to gmc I'm actively mining. So that's good. But I'm still not sure of a few things.
My questions are pretty simple (or so I think):
- My average seems to be 45ish KHps at the moment. It's still rising, but at that kind of rate what kind of payouts over what kind of time periods should I be expecting?
- Is there a particularly good Android client for notifications & such? How complicated is that to set up?
- My wallet program is still loading over 4 years of blockchain. How long should I expect that to take?
- I set my .bat script to 80% usage so that I could still use Windows smoothly or low-resource games. Keeping that goal in mind, is 80% wise or should I modify it?
LTC mining on consumer hardware is not worth it. My friends and I had a small-time Litecoin mining outfit a few years ago. We had a good amount saved up when the coins eventually hit $50 USD. Cashed out a few grand. After our initial cash out we built 4 mining rigs that put out around 2MH/s each. About 9 months after building them the difficulty had skyrocketed so much that we were hardly making anything, plus the value of the coins had dropped to about $5, so we pulled the plug. Sold off all the hardware and moved on.
So I'm just going to answer your first question: At 45KH/s, assuming the difficulty doesn't get higher (it will), the value of BTC says the same (it won't), and that your power is free, you're making $0.52 USD annually. With electricity costs, you're quite certainly losing money.
What hardware are you using? If you want to make anything, at all, you're going to need a lot more muscle.
And here I was thinking LTC was still drastically better than BTC. Is there a cryptocurrency I should be looking at instead?
I'm not really sure, I've been out of the cryptocurrency game for awhile now. When I was mining there were only SHA-256 and Scrypt based coins. Now there's a large variety of algorithms and a metric ton of coins based on them.
Go to www.coinwarz.com, there you'll be able to find profitability calculators for each coin. The next hump is finding a coin that's profitable, but also simple to convert to BTC. You'll need to be able to exchange for BTC to get actual currency.