How would I get into mining LiteCoin/DogeCoin?

[Caribou]

BitCoin is already out of reach for me. But I really wanna start mining either currencies, and I'm willing to to spend up to $1000 on a good processor/machine for mining, can you guys recommend me something? I wanna make more than what I bought the processor for by selling the coins I mined. And how would I get started? Thanks BLF

[Ad Bot]

[Satan From Wreck-It-Ralph]

http://www.coinminingrigs.com/
this might help

[Ikares]

1000 dollars.

You don't need a rig, all you need is a good GPU. There are ones specifically made for coin mining, check out Butterfly labs.

Also, it'd be within your best interest to find another coin. Litecoin is valuable, but it's much more worth your time mining something like Worldcoin, Nextcoin, or Megacoin.

Seriously though, mining isn't always worth it, and it takes up a forgetton of energy. It's much more likely that you'll have your money wasted than spent well.

[0xPRODUCTIONS]

Why not just play the market
buy/sell
you know

[Caribou]

http://www.coinminingrigs.com/
this might help

Thanks! I'll look into it

1000 dollars.

You don't need a rig, all you need is a good GPU. There are ones specifically made for coin mining, check out Butterfly labs.

Also, it'd be within your best interest to find another coin. Litecoin is valuable, but it's much more worth your time mining something like Worldcoin, Nextcoin, or Megacoin.

Seriously though, mining isn't always worth it, and it takes up a forgetton of energy. It's much more likely that you'll have your money wasted than spent well.

Why do you say that it's better to mine WorldCoin, NextCoin and/or MegaCoin? Also that's bad, but could it blow a fuse?

Why not just play the market
buy/sell
you know

That's what I initially wanted to do, but $1000 won't get me far with shares and I want something with more of a guarantee like mining since you can make a few bucks daily from it. I know a lot about commodities and the market, but I simply can't afford to play big right now.

[Swat 3]

1000 dollars.

You don't need a rig, all you need is a good GPU. There are ones specifically made for coin mining, check out Butterfly labs.

I think you mean CPU.

[Ikares]

I think you mean CPU.

GPU mining is much better than CPU. CPU won't get you as much, and I'm p sure it can use more power at times.

And Caribou, Worldcoin, Megacoin, and Nextcoin are worth a lot less, but they are growing fast, and they mine at a faster rate. You would make less money at the time, but when they grow and reach higher value, you could sell all that you got. It's more profitable. Litecoins and Bitcoins are much harder to mine, and will make you less.

[Caribou]

GPU mining is much better than CPU. CPU won't get you as much, and I'm p sure it can use more power at times.

And Caribou, Worldcoin, Megacoin, and Nextcoin are worth a lot less, and they mine at a faster rate. You would make less money, but when they grow and reach higher value, you could sell all that you got. It's more profitable. Litecoins and Bitcoins are much harder to mine, and will make you less.

I really appreciate this! But could the machine cause a fuse to bust or something to set fire because of how much energy it uses? Also can you recommend me any good machines under $1000?

[Swat 3]

GPU mining is much better than CPU. CPU won't get you as much, and I'm p sure it can use more power at times.

And Caribou, Worldcoin, Megacoin, and Nextcoin are worth a lot less, but they are growing fast, and they mine at a faster rate. You would make less money at the time, but when they grow and reach higher value, you could sell all that you got. It's more profitable. Litecoins and Bitcoins are much harder to mine, and will make you less.

Alright, never mind. GPU's are actually stronger than CPU's because they have to do more work.

[Ikares]

I really appreciate this! But could the machine cause a fuse to bust or something to set fire because of how much energy it uses? Also can you recommend me any good machines under $1000?

Well, there are USB sticks that can mine really well, and they're really loving cheap, but if you want to make bang bang for your Caribucks I can't help you there. It won't use too much energy if you use it responsibly. And I'm pretty sure it's impossible or extremely unlikely for it to cause a fuse or set fire.

[0xPRODUCTIONS]

https://zeusminer.com/product/pre-order-lightning-x6/
wait no this one

[Starkiller]

How does mining work exactly?

[Swat 3]

How does mining work exactly?

G/CPU's have to process a collection of number or decode something I think. It's like resource mining. In the beginning it was easy to do, I think.

[Becquerel]

How does mining work exactly?

I think it has to do with solving some sort of series of algorithms

[Caribou]

Nevermind, it's way too much commitment and besides I don't understand most computer stuff anyway. I can use them but that's it. Anyway I've been looking into alt coins and one in particular seem VERY promising and interesting - MegaCoin. I didn't know the guy behind MegaUpload created it. It has a coin cap of 42M, which means after that they can no longer be mined and that means that it will just be out there like a stock and controlled by people who buy and sell it. Instead should I invest some money into this?