129 units that can calculate at 4. So what happens to the GPU miners who are left behind by the ASIC miners? The answer is, you’re going to get left best gpu for bitcoin mining 2012 movie the dust. Litecoin vs Bitcoin Litecoin was created as an alternative to Bitcoin, rather than a replacement.
It’s the silver to Bitcoin’s gold, if you will. They took many of the fundamentals of Bitcoin, and changed some things to be a viable alternative. There is going to be a lot more of it. Both currencies have an absolute limited supply, and there will be 4 times as many Litecoin coins mined than Bitcoin. The target time for new blocks is 2. 5 minutes, rather than every 10 minutes.
This means transactions will occur much faster than Bitcoin’s. This makes it more suitable for day to day use. GPUs do a decent job of this, but as you can tell, more specialized hardware performs far better. Litecoin uses Scrypt, which is designed specifically to prevent specialized hardware attacks. Most importantly to us, Litecoin is a viable alternative for people who want to mine casually at home.
Because Bitcoin has been the one getting all the attention, Litecoin’s rise in price hasn’t been nearly as dramatic. If you get in early enough, you can use that as an advantage. As you can see, Litecoin seems to be drastically undervalued, compared to Bitcoin. It’s undervalued, but not that much.
How to Mine Litecoin There are a few programs to mine with, the easiest being the Scrypt version of GUIMiner. This is a simple Windows app that can get you going in no time. It is in alpha though, so you will want to keep an eye on it to make sure it doesn’t crash on you. The thing about Litecoin mining is that there are many settings that can be tweaked to increase or decrease performance.
I personally use a thread concurrency of 8096, with 2 GPU threads. Simply download the Litecoin client from the main site, and once it updates the blockchain, you will be able to see your deposit. After that, you will want to encrypt the wallet, and back it up. If dealing with local copies, it’s up to you to not lose!
If you thought this post was informative, and want to get started with Litecoin, how about a head start? If you Like this article on Facebook, let me know your LTC address in the comments, and I’ll send some coin your way. I’ll send some coins your way! It won’t be much, as I just got started with LTC myself, but I don’t mind if it helps spread the word. Better give it a try or get left behind right? Thx for offering a few coin to spread the word! I’ve been looking at the same numbers the last few days.