Whats your pc?

[yzmxer608]

Litecoin miners...

Been reading about it and I really can't find out what the mining is actually doing... What are the blocks that are found? Are they anything actually useful or is all of this just to earn money? I'd rather do something like folding at home which actually calculates useful information from you...

[KTM57]

It's a currency system. From what I know, computers are sent operations to solve, and coins are sent back as a reward.

[yzmxer608]

Ok, what are the operations for? Just random operations to take time?

[KTM57]

Some sort of algorithms or something. They're GPU intensive. A Litecoin rig might have a $40 AMD processor and a gig of RAM with 3 or 4 7950s.

[Pumaxcs]

Well after some research of my own I think I might try and indulge in this. With the last of my new PC arriving tomorrow I can easily put this one in the corner and have it run all day. May not be as productive as a quad SLI but I imagine atleast 1 block per day would be possible and todays price would mean $30. Sounds like a good alternative until I can find someone to buy this one. Thanks for the heads up guys.

[Prada]

would it really be worth it at that rate?

[Pumaxcs]

It can either sit in a corner and make me maybe $30 per 24 hours or sit in a corner and earn me guaranteed $0 per 24 hours. I'll risk it.

[yzmxer608]

Is this still Litecoin or are you talking about Bitcoin?

[FnF_greg]

So recently out of nowhere i got an budget of roughly 700 Euro to spend on PC parts so i just started searching around the web to get me some upgrades.
In the end i pretty much updated everything except my RAM memory.
I'll post the old stuff and new stuff.
GPU: Nvidia Gtx 260 -> Msi Gtx 760 OC edition
CPU: Amd Phenom X3 -> Intell I7 4770K (OC'ed to the TURBO modus of 3.9 GHZ)
RAM: 16 Gb of Kingston 1600 MHZ (allrdy had this, not updated)
Motherboard: Dunno what kind exactly, but it supports OC'ing allot better and has a super fancy graphical BIOS with mouse support, which i really like and it obviously has the sockets to place the i7 into. (1155 or something i think the socket is called)
PSU: had an 500w psu before and it couldn't handly the new hardware resulting in blue screens of dead all the time ... updated to an 750w from CORSAIR and everything has been running extremely smooth ever since.
Oh yeah and just a word of advice to people building new systems, get an SSD harddrive!! they are so insanely fast.. yeah they are little (120 / 250 gb for decent prices, the rest way to expensive) but imo it's worth to invest in them, just get an normal sata HDD as 2nd drive for data saving (movies, images, etc....)
I build everything myself and had lots of fun doing it, i'm for sure never buying a pre-build system again

[motomaniak]

Got an R9 290 a week ago, I watercooled it because the stock cooler sucks really bad..but damn such a sick card! Overclocked it to 1200mhz core and 1415mhz memory. Runs everything smooth on triple screen!

[Pumaxcs]

Is this still Litecoin or are you talking about Bitcoin?

I'm talking Litecoin but the more I look into it the weirder it gets. Its not a Folding@Home because the guy who made it has nothing to do with any of the transactions or essentially the program anymore. As of right now I'm not entirely sure what to do with it. Should you join a pool where you transfer the coins directly to an account and you get what that coin is worth -4% fee or so or should you hold all your stuff local and trade your stuff on a market, or you can use them for trading at a similar rate, which market? Then the currency itself doesn't make a lot of sense either in the way its created and shared. The things your PC does isn't even productive for anything as far as I can see, its just rewarding you for having a good GPU and putting it to use. Basically, your PC runs all day which is 'its job' and litecoin is its 'paycheck'? I'm still going to do this but its far more in depth than I ever thought it would have been

[Prada]

Some of those mining rigs are just ridiculous lol. Let me know how it goes

[yzmxer608]

Basically what I've found is your GPU is processing transactions and verifying them.
http://en.wikipedia.org/wiki/Bitcoin

Integral to Bitcoin is a public transaction ledger and log known as the blockchain, which shows who owns how many bitcoins currently and records the participants in all prior transactions as well. By keeping a record of all transactions, the blockchain prevents double-spending (copying one bitcoin and spending it in multiple different places) because the record shows that once a bitcoin has been spent, the previous owner no longer controls it.[20] The blockchain is maintained not by a central body but by a distributed network of computers that run a program to solve cryptographic puzzles relating to information in the blockchain.[20] Users who devote computing power to maintaining the blockchain this way are called "miners" because they are awarded in bitcoin when they are first to solve such puzzles - mining is how new bitcoins are generated.[20] The mathematical calculations performed by miners' computers serve to verify that each transaction is valid and add the information to the blockchain.[21] As more bitcoins come into circulation, the puzzles involved in mining them become increasingly difficult, and the rewards are halved at regular intervals, until 21 million bitcoins have been created and production stops.[20] As Bitcoin achieves wider recognition and more people compete to mine the coins, competition for the limited number of bitcoins awarded for solving the cryptographic puzzles becomes more steep and more powerful computers are needed in order to compete - a fact which has spawned a technology boom in sales of Bitcoin mining technology.[21]

But there really aren't many places you can use these (at least places I see worth doing it at). The only one I've found is Litecoin Games: http://litecoingames.com/ which has EA and Steam keys (how they get them I don't know, but it says they're genuine keys). Here are a few resources that list other places: https://litecoin.info/Service_directory#Goods_merchants and http://weuselitecoins.com/

I found an in-depth guide for setting it up: https://litecointalk.org/index.php?topic=7722.0

Guidlines for hardware (spoiler alert- AMD does a TON better for this than Nvidia- my old 5870 which is two generations older than my 670's do about twice as good, and it's almost useless to use your CPU for this, even an enthusiast chip). https://litecoin.info/Mining_hardware_comparison

Calculator for Kh/s to Litecoin earnings (sort of like f&h ppd calculators). http://www.litecoinminingcalculator.com ... 1494&fee=0

According to that guide just keeping your earnings in your "wallet" is best, don't do the pool stuff. I still don't understand WHERE the currency comes from, or why legit businesses would ever use it though... But I'm going to set it up tonight and let it run for a while. I'll get enough so I can try out that Litecoin games site and see if this is even worth doing, at this point it seems like it's something I wouldn't continuously do.

[yzmxer608]

This post kind of explains the currency more: http://bitcoin.stackexchange.com/questi ... heir-value

[aaronr5]

So Matt Burkeen asked me to build him a PC, This will only be my second PC build so I wanted to post up the parts on here and see if anyone had any alternatives or recommendations. He has a pretty low budget right around $500. All he really wants to do is play sim on it.

Cpu: Intel i3 3220 3.3Ghz
Mobo: Asus B75M-A
Gpu: Evga Geforce Gtx650ti 2gb
Memory:G skill 4gb 240 ddr3 1333
HDD: Seagate Baracuda 500gb
optical drive: asus dvd rom drive
PSU: Corsair CX series 500W

and then just some cheap case. Just wanted let some people look over it and give an opinion.