Best altcoin mining rig

The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin. Welcome Package up to 7 BTC! Grin is the latest darling of cryptocurrency world, a new privacy focused coin with unlimited supply has surprisingly seen support among traditionally altcoin-hostile bitcoin maximalists as well. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. You can store your Monero coins on the official Monero desktop wallet. The cryptocurrency profitability information displayed is based on a statistical calculation using the hash rate values entered.

Litecoin Mining

The heyday for mining established cryptocurrency has all but come and gone. Industrial-scale operations have driven many enthusiasts to look for opportunity in smaller coins in rgi of catching the next big trend. However, we thought it was about time to see how two cryptocurrency heavyweights stack up in the mining department. Before jumping into the differences, here are some important cryptocurrency mining factors to consider if you plan on getting your feet wet:. Specialized mining hardware is designed to run at the limit and, as a mininf, uses up a lot of electricity.

One of the tougher choices that a cryptocurrency miner has to make is choosing the right piece of hardware to use when mining. Different types of coins have different needs and requirements to mine, which in turn requires different types of technology. Cryptocurrency mining hardware is more often referred to as rigs. Litecoin mining hardware is similar to other crypto mining rigs in the sense that it operates with scripts — functions that let users utilize their CPUs to mine cryptocurrencies from designated sites. However, as with every other coin, Litecoin has its specific parameters that make some rigs better than others when it comes to the actual mining part. These three types of Litecoin mining hardware paint a pretty good picture of the choices that you have when thinking about what mining technology to invest in. It is worth mentioning that even though there are quite a few options to pick from, they vary significantly in their quality and performance.

The heyday for mining altxoin cryptocurrency has all but come and gone. Industrial-scale operations have driven many enthusiasts to look for opportunity in smaller coins in hopes of catching the next big trend. However, we thought it was about time to see how two cryptocurrency heavyweights stack up in the mining department.

Before jumping into the differences, here are some important cryptocurrency mining factors to consider if you plan on getting your feet wet:.

Specialized mining hardware is designed to run at the limit and, as a result, uses up a lot of electricity. These xltcoin also run particularly hot and cooling your precious equipment becomes an issue in warmer climates. To stay competitive you need to have the latest hardware and software.

Furthermore, you need best altcoin mining rig expertise to rkg that your algcoin is working at optimum capacity. Investing in mining equipment also means putting in the time to educate. Both Bitcoin and Litecoin use proof-of-work to validate and secure transactions on their networks. Bitcoin uses the SHA algorithm to achieve. The secure hash algorithm is a function which is commonly used in blockchains and was pioneered by Bitcoin.

Bitcoin mining mijing considered more complex than Litecoin mining because of the algorithm differences. Over the years more and more computing power has been committed to securing the Bitcoin network.

As a result, the Bitcoin mining difficulty has increased dramatically altcin the present day. Bitcoin was designed to confirm transactions at around minute intervals. Mining hardware has evolved from your basic minign processing into specialized chips called ASIC s. The application-specific integrated circuit was designed purely for cryptocurrency mining.

It was initially designed to be ASIC resistant to prevent the kind of mining centralization we are currently seeing in altfoin blockchains. However, with dedicated research and development, established miners have regardless been able to build specialized hardware specifically for mining Litecoin.

A major advantage Litecoin has over its bigger brother is the 2. At 4x the speed of Bitcoin, it seems like Litecoin would be more of a contender for merchant adoption.

Both coins, however, have probably lost that edge to near-instant transactions from newer contenders. A traditional international transfer through the existing banking system can take anywhere between a ridiculous business days to confirm. Keep these kinds of use cases in mind. As cryptocurrency adoption grows, the best mining opportunities will take place where it makes the most sense for users. We are currently in a tricky market as the fall in cryptocurrency prices has made mining unprofitable for many minnig miners.

Any investment made today should consider the longer-term price chart of Litecoin. Your preferences minong differ so always make a point of doing your own research. This basically allows the miner to steal money from the network by double spending. Such an attack would initially be very profitable for the miner. However, the network would ultimately become unusable and coin holders would move their funds to a safer blockchain. Mining centralization remains a concern for Bitcoin as Bitmain alycoin to dominate the market.

In the beginning, just about anybody could mine Bitcoin with a stock-standard computer. Then, shrewd miners saw the immense profits that could be made via mining.

These days companies have dedicated research and development teams and put large budgets in place to stay on the cutting edge of cryptocurrency mining tech. If you took the leap and invested in some reasonable hardware you now have the option of contributing your hash power to a group of miners known as a pool.

Both Bitcoin mining pools and Litecoin mining pools offer their respective miners a lower fig to entry to. The shared power of the pool allows you to collect your reward in proportion to your power contribution.

The miming advantage of this approach is a regular payout on a predictable time-frame. This altciin centralizing the network, even if only by a fraction. Percentage breakdown of Litecoin mining pools courtesy of litecoinpool. So, which is more profitable, Bitcoin or Litecoin mining? Well, at this particular snapshot Bitcoin was well in the lead.

These calculations focus almost entirely on hash rates. Monitoring data for just one day is not particularly reliable. Making the decision to jump into the world of cryptocurrency mining is not an easy one. It definitely pays to get involved early in the launch of a new coin.

Bitcoin and Litecoin mining is still feasible if you are prepared to invest in the right hardware and software and dedicate those resources to a mining pool. With so many choices and so many factors outside of your control, it appears though that the probability of minung a good profit gets harder by the day. A healthy alhcoin continues in the cryptocurrency community.

The general feeling is that those passionate about cryptocurrency, the hardware, and the technical chops to make it happen will do just fine. Those with pure investment goals would probably do better by buying the coins outright. Submit Press Release. Mining Litecoin Mining vs. Bitcoin Mining. Image courtesy of Yuji Nakamura. Percentage breakdown of Bitcoin mining pools courtesy of Blockchain. A detailed look into mininf mining profits. Someone Say Bear Market? Bitcoin Sets 3 Huge New Records in About Contact Privacy Terms Disclaimer.

How To Build The Cheapest Mining Rig Possible!

Bitcoin Mining

Secure nodes also altcoiin not require locking your tokens so if you decide you want to sell one day you are free to move your coins and do so. Holiday Guide Thanks to SharkOS you can control the power of mining rig with a touch of a button and see real-time parameters for fan speed, power and. Your message has best altcoin mining rig sent. This mechanism makes the computational requirements harder based on factors like available hardware and public. Ethereum and ZCash best altcoin mining rig the potential successors of Bitcoin, a cryptocurrency which is winning popularity. Shark Mining has another entry in this list of best mining rigs, this time with its Shark PRO mining rig. Still, even the most advanced mining hardware could net you about 50 dollars per day.