Need a basement for some Litecoin and Bitcoin mining
cbbrowne-Re5JQEeQqe8AvxtiuMwx3w at public.gmane.org
Thu Mar 13 19:46:10 UTC 2014
As I understand it, the difficulty of Bitcoin mining has gone up via "arms
race" to the point that you need to have custom ASIC-based mining equipment
to get meaningful hash rates. At one point, it was useful to mine using
GPUs, but no longer.
(And "arms race" could also get compared to the way that fishing boats have
gotten enhanced to ridiculous levels; if you want in on some of the
time-limited sorts of fish, you need to have a boat with hyper-specialized
equipment and nets that pretty much scrape all the fish out of the water.
And the fishing season now lasts about 15 minutes, because that's how long
it takes to scrape all the relevant fish out of the water. Small guy with
a fishing rod need not apply... By the time he gets his rod in the water,
fishing season's over...)
Litecoin hasn't had the same "arms race", and apparently there isn't the
same merit to building custom ASIC/FPGA for it.
FYI, I have a bitcoin wallet with about $30 CDN worth of Bitcoin, that was
originally mined, over the last month or so, as DogeCoin, and
currency-exchanged over to BitCoin. It seems plausible that if rates don't
soften *too* much, and difficulty factors don't multiply TOO much, that I
should pay for the hardware through the course of the rest of 2014.
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