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Lightcoins?

Posted on 2013-12-03
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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.
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Question by:janhoedt
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.
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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?
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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.
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