Still celebrating National IT Professionals Day with 3 months of free Premium Membership. Use Code ITDAY17

x
?
Solved

Lightcoins?

Posted on 2013-12-03
3
Medium Priority
?
1,026 Views
Last Modified: 2013-12-03
Hi,

Anybody can tell me something about lightcoins?
Heard about bitcoins but what about light coins?
*General info
*Can I generate them, what's the status expectations for the future ...?
*What specific hardware is required, the best?
* What OS to use, what happens if you generate ligthcoins and your os fails?
*Can I monitor the lightcoins generation (f.e. send a mail for alerts etc)?
*How to cash your lightcoins?
*Is there a future for lightcoins or is bitcoins the future?

Any input is welcome.
J.
0
Comment
Question by:janhoedt
[X]
Welcome to Experts Exchange

Add your voice to the tech community where 5M+ people just like you are talking about what matters.

  • Help others & share knowledge
  • Earn cash & points
  • Learn & ask questions
3 Comments
 
LVL 19

Expert Comment

by:Miguel Angel Perez Muñoz
ID: 39692234
Maybe you are asking about litecoins??

I have trying mining this virtualmoney, in my opinion is more profitable than bitcoin because network difficulty is lower, but you can not use ASIC or FPGA miners uses on bitcoin and reduce your profit, because get results depends of your CPU/GPU power and this devices eats lots of power.

You can compare with bitcoins, https://give-me-coins.com/pool/calc http://www.alloscomp.com/bitcoin/calculator and hardware required: https://litecoin.info/Mining_hardware_comparison and made your own calculations.

The rest works same as bitcoin, you have a wallet to get in, can trade with (some traders required change to bitcoins before withdraw), some linux distributions are ready to this or there is lot of windows program to run. This requires some research by you because one software may increase khs rather than other.
0
 

Author Comment

by:janhoedt
ID: 39692374
Thanks! Litecoins indeed.
Few more questions:
*how's your experience, did you get your electricity bill payed + some extra?
*what config do you have (hardware, OS ... what would you recommend)?
*what happens if electricity fails? can you catch up where you left generating bitcoins?
*how to monitor performance?
0
 
LVL 53

Accepted Solution

by:
Scott Fell,  EE MVE earned 2000 total points
ID: 39692460
Whenever there is the possibility for "free" money, it is only going to get more difficult. A good start for your research is figuring out what it will take to be profitable https://www.litecoinpool.org/calc  based on the hardware/software you are using that converts to power used per value of coins produced https://litecoin.info/Mining_hardware_comparison.  Do your research http://ltc.block-explorer.com/charts 

Bitcoin has become more difficult http://www.bitcoinx.com/profit/ and the current favored hardware is http://www.butterflylabs.com/ 

I never went forward with this and only researched it.  Even if you come out slightly ahead, it seems like an awful waste of natural resources to generate power to produce virtual money.
0

Featured Post

Supports up to 4K resolution!

The VS192 2-Port 4K DisplayPort Splitter is perfect for anyone who needs to send one source of DisplayPort high definition video to two or four DisplayPort displays. The VS192 can split and also expand DisplayPort audio/video signal on two or four DisplayPort monitors.

Question has a verified solution.

If you are experiencing a similar issue, please ask a related question

We aren’t perfect, just like everyone else.  Check out the email errors our community caught and learn the top errors every email marketer should avoid.
In today's business world, data is more important than ever for informing marketing campaigns. Accessing and using data, however, may not come naturally to some creative marketing professionals. Here are four tips for adapting to wield data for insi…
Use Wufoo, an online form creation tool, to make powerful forms. Learn how to selectively show certain fields based on user input using rules to gather relevant information and data from your forms. The rules feature provides you with an opportunity…
Learn how to set-up custom confirmation messages to users who complete your Wufoo form. Include inputs from fields in your form, webpage redirects, and more with Wufoo’s confirmation options.

722 members asked questions and received personalized solutions in the past 7 days.

Join the community of 500,000 technology professionals and ask your questions.

Join & Ask a Question