Litecoin: calculate your empire

Dec

20

2013

Litecoin: calculate your empire

There have been few trends in the past year that speak more to the imagination than Bitcoins. This’ virtual currency, which can be homemade has in many tweaker unleashed a veritable gold rush. The price of Bitcoin has proven to be highly volatile after a quiet start, and knew high peaks, deep valleys as well. Precisely those peaks the imagination, you can be rich with money that you can produce with your computer itself. Moreover, more and more bodies to accept this form of “internet money” and the currency can be traded on exchanges or on other crypto-traditional currencies.

“The Litecoin is very well produce still own”

As easy as it once was to produce Bitcoins, it is long gone. As more people producing the currency, taking the difficulty to produce them. Meanwhile, there are specialized chips such as Asics and FPGAs, which make the production more effective than computer hardware. Thus, the difficulty even higher and pays the use of home-garden and kitchen PCs even less.

Fortunately, the Bitcoin virtual currency that is not the only, or the only crypto money in circulation. One of the many alternatives, but one with a good base and enough users, the Litecoin. That’s very good to produce your own computer. Still own Tweakers pulled the cut open and ordered the necessary hardware to deal with energy efficient Litecoin-miners to work. Itself The big question is: how fast can you make a profit with such mining PC? When you’re out the cost, not only for the purchase, but also to energy costs?

LitecoinLitecoin: calculate your empire

By Willem de Moor , Friday, December 20, 2013 09:00, comments: 306 , Views: 128 970 • Feedback

There have been few trends in the past year that speak more to the imagination than Bitcoins. This’ virtual currency, which can be homemade has in many tweaker unleashed a veritable gold rush. The price of Bitcoin has proven to be highly volatile after a quiet start, and knew high peaks, deep valleys as well. Precisely those peaks the imagination, you can be rich with money that you can produce with your computer itself. Moreover, more and more bodies to accept this form of “internet money” and the currency can be traded on exchanges or on other crypto-traditional currencies.

“The Litecoin is very well produce still own”

As easy as it once was to produce Bitcoins, it is long gone. As more people producing the currency, taking the difficulty to produce them. Meanwhile, there are specialized chips such as Asics and FPGAs, which make the production more effective than computer hardware. Thus, the difficulty even higher and pays the use of home-garden and kitchen PCs even less.

Fortunately, the Bitcoin virtual currency that is not the only, or the only crypto money in circulation. One of the many alternatives, but one with a good base and enough users, the Litecoin. That’s very good to produce your own computer. Still own Tweakers pulled the cut open and ordered the necessary hardware to deal with energy efficient Litecoin-miners to work. Itself The big question is: how fast can you make a profit with such mining PC? When you’re out the cost, not only for the purchase, but also to energy costs?

LitecoinLite Coins

Where Bitcoins use a SHA-256 hash and finally 21 million are in circulation, the Litecoin slightly different set up. The idea is that the Litecoin improves shortcomings of Bitcoin, like the speed of transactions, and is less suitable for specialized hardware fpga and asics. In addition, greater come into circulation.

“A nice analogy is that the silver is Litecoin next Bitcoins gold”

The Litecoin was developed under an MIT license and was introduced in October 2011. As for Bitcoins you can use a PC to minen Lite Coins and spend the currency acquired. The bulk of the Lite Coins are used to buy bitcoins, the Bitcoin is minen while Litecoin with their own PC can be tricky gemined itself. Lite Coins can be redeemed for Bitcoins, but also for traditional money. Using so-called exchanges Through such exchanges, such as BTC-e, directly or Bitcoins Lite Coins can be purchased.

Lite Coins differ in some respects from Bitcoins. They can be produced faster, transactions are processed more rapidly, and the algorithm used for the hash is different. The production of a new block in the block chain Litecoin takes 2.5 minutes, allowing transactions to be over with Bitcoins. Confirmed much faster For small payments Litecoin would therefore an easier alternative to Bitcoins and forms are processed faster. A nice analogy is that Litecoin silver is next Bitcoins gold. Users can be part of a Bitcoin redeem Lite Coins and currency used for payment.

A major difference is the cryptographic algorithm used Litecoin. Hashes are calculated with scrypt instead of SHA-256. Scrypt is designed to take a lot of memory in which specialized hardware like Asics and FPGAs are unsuitable for it. However, video cards are very suitable for the algorithm, so that miners with video cards are effective. How effective is that we see on the next page.

Next page (Budget Miner: components – 4/6) Budget Miner: components

A Litecoin-miner is still economically attractive, the Lite Coins are still relatively easy to obtain and temporarily do not have to be overtaken to be asics and fpga’s scared. A solid video card is sufficient. The rest of the hardware can be extremely budget, bearing in mind a lower energy bill.
# Product Price Subtotal
1 AMD Athlon II X2 340 Boxed € 33.71 € 33.71
1 Asus F2A55-M LE € 46.37 € 46.37
2 Club3D Radeon HD 7870 ’13Series € 141.50 € 283, –
1 Rasurbo BC-10 € 23.56 € 23.56
1 Transcend JetRam JM1333KLU-2G € 19.38 € 19.38
1 be quiet! System Power 450W 7 € 51, – € 51, –
View Collection Import products Total € 457.02

With the above configuration, we were 450 euros for a system that on paper is good for about 800 khashes per second, converted approximately 0.25 Litecoin daily or almost 8 Litecoin per month. We installed Windows on an SSD that we had lying around, but the hardware and energy costs even further pressing, you can also from a USB drive and use Linux as the operating system.

With an average price of around 20 euros per Litecoin that should yield EUR 160 per month. At the current cost minen killed about 50 euros per month, so minen after four months we have the cost. With a substantial scuttled price of 10 euros per month, however, we are only after more than one year from the cost.

The calculation depends therefore on the price of the Litecoin. Given that fluctuates somewhat, it minen Lite Coins risk. If we look at the share price performance since October, is the value at the time of writing roughly doubled, but whether that trend continues, it is conjecture. By comparison, during that period the Bitcoin less than 100 euros to approximately sixfold increased. Since Bitcoin and Litecoin are pretty closely linked, it is likely that the rate Litecoin the Bitcoin-development continues to follow.

Next page (Budget Miner: power and optimizations – 5/6) Budget Miner: power and optimizations

We have the system of the previous page, and put together an old 160GB SSD in Postville, put Windows 8.1 on it. If mine software we use guiminer and adjustments to the clock speeds we use the bios and Overdrive AMD drivers.

Guiminer has several presets to mine. With several video cards You need an account with an Litecoin pool as WeMineLTC needed for each GPU called a worker must be created. Subsequently, settings can be tweaked to adjust the intensity. And other parameters

Screenshot GuiMiner scrypt

By default, we arrive at a power of 51 watts at idle. We can get some to tweak the clock speed of the processor Vcore and what to cut back.

Our miner is obviously not meant to do nothing, the minas is what concerns us.
Power consumption
Activity Rating in watts, lower is better
Stock, idle
*******
51W
Stock, mining
******
370W
Tweaked, idle
******
52W
Tweaked, mining
*****
382W
Clock speeds and mining performance Stock Tweaked
CPU 3200MHz 2000MHz (1.3V Vcore)
GPU core 1000MHz 900MHz
GPU memory 1200MHz 1250MHz
Mining Institutions t = 8192, i = 19, w = 256 t = 15508, i = 20, w = 256
Mining Speed 328khashes / s 400khashes / s

It allows for power does not really matter whether we minen with overclocked memory and higher intensity. Tweaking the GPU clocks and increasing the intensity yields however almost twenty percent better results.

Remarkable and important detail: the low intensity and stock settings we could use the single 2GB memory strip. To achieve the higher intensity, we must switch to dual-channel memory, with some strip mining program still crashed.

The search for ideal settings depends greatly on the hardware and software used. In general, the memory clock seems to work with the clocks of the GPU core at about 0.6x to 0.7x optimally. Furthermore, you can play with the intensity and thread concurrency for optimal minas.

Next page (Conclusion: to mine or not to mine – 6/6) Conclusion: to mine or not to mine

Who wants to work with the minen Lite Coins or other form of crypto apply, does well to one another first and carefully counting. The prices on the stock markets are extremely volatile, and as recently seen was, they just collapse.

The cost of a mining system should therefore not only be compared with the current exchange rate of the currency minen, but the energy and direction development should also be included. The latter is difficult to predict. In any case, such a system needs to run a few months to recoup, unless of course the price rises sharply. You can calculate your expected profits online without purchase cost, at current rates through convenient computational aids .

“The energy and course development should be included”

Our mining system costs about 450 euros per month and provides, at the current difficulty level, about 7.5 Litecoin on. In about eight months, the system is then recovered, but if the price rises, is that much faster. If a bit is useful, sells the system additionally after a while, which shortens the period for profitability. And who are some hardware, can obviously reduce the cost of entry. If you only need a video card and you are all the rest you’re after a good three months of the cost.

In short, the minen crypto funds or trading of the currencies of the various exchanges is an interesting activity, which should be money that you can not miss. However only undertaken As with traditional investments, it is not convenient to invest, your mortgage or rent money but who has money to speculate, could be fun at.

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