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RE: What is Litecoin? Bitcoin vs. Litecoin

in #bitcoin7 years ago

Unfortunately, the difficulty of mining has risen so much for bitcoin and litecoin that a normal computer or gpu cannot be profitable while mining like it once was in the past. This is due to bitcoin and litecoin not being asic resistant meaning that both of these cryptos have large companies producing expensive machines that mine much more efficiently than a normal graphics card would, thus increasing the difficulty of mining and leaving regular computers in the dust. You can buy a bitcoin or litecoin asic miner but the investment can be costly and unless you are set on mining, I think a better option would just be to invest that money into bitcoin or litecoin instead of going through the extra troubles that mining comes with.

Here is a great bitcoin and litecoin mining calculator that will tell you the profitability of the miners before you buy them: https://www.cryptocompare.com/mining/calculator/btc?HashingPower=28&HashingUnit=TH%2Fs&PowerConsumption=2600&CostPerkWh=.09

Thanks for your comment! Hope this helps!

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