Friday, May 31, 2013

LiteCoin Mining - the easy bitcoin

Mining Bitcoins has lost it's appeal for many when the algorithm difficulty became too demanding first for CPU's then GPU's. Nowadays you will find so calld ASIC miners. ASIC stands for Application-specific integrated circuit and has been optimised for the processes of mining. No laptop and not many desctop sytems are able to compete with this mining power.

Bitcoins are expected to be completely mined somewhere around 2035. Litecoins with their easier algorithm though is expected to be fully available by about 2018. This shorter maturity period means they are also easier to mine, hence lighter on the equipment.
Once you have mined the lite-coins you can easily exchange them for Bitcoin should you wish to do so.

To get advise on mining and find a community visit the "mining guide". Pooled mining and their operators are most likely your way to go as especially bitcoin is so hard to mine solo that the price for the rig needed exceeds most likely the earnings.
You can get a taste of mining with this java based browser miner.

And finally for all who want to really know: a mining profit calculator


Have a nice day and happy mining to you all!

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