[closed] Mining litecoin with ASIC

Is it possible? will it be profitable?

asked 27 Feb '13, 04:22 Bitnation 11126 Bitnation's gravatar image
closed 09 Mar '13, 19:50

hi @Bitnation, do you like some answer?

(04 Mar '13, 22:38) paraipan paraipan's gravatar image

The question has been closed for the following reason "The question is answered, right answer was accepted" by SalvorHardin 09 Mar '13, 17:34

Yes it is possible to mine LTC with ASICs the main issue is that there has not been an ASIC designed with LTC in mind. In order to mine LTC efficiently you would need a large amount of fast cache memory for the ASIC processor(s). Currently there are no ASICs being made that suit this purpose, there is currently not even any FPGA hardware that is geared towards LTC. Mainly the focus has been on BTC due to it's higher popularity and price. Essentially you would need to have an asic made that is designed to mine LTC. This is the very definition of ASIC, Application Specific Integrated Circuit. Depending on how cheaply you could have the hardware manufactured the speed at which you could now mine LTC may offset the lower value they tend to have in comparison to BTC.

answered 27 Feb '13, 07:09 Unmotivate... 7055 UnmotivatedGenius's gravatar image

Possible. Yes. Profitable. Only if litecoin succeeds in being worth anything. It may be faster but it is pays for that speed in security. If only a small number of people accept it, it will be worth less per dollar and therefore not be as valuable. If you have a created a lot of something that ends up having no value but you didn't lose any money is it still a profit?

answered 27 Feb '13, 04:34 pfloyd 58115 pfloyd's gravatar image

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Asked: 27 Feb '13, 04:22

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Last updated: 09 Mar '13, 19:50

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