Re: Magical Internet Money
Single AMD 7970 GPU costs approx £220 , Generates approx 650kH/sec
At current difficulty with a single GPU mining Litecoin you'll earn $3.88 / £2.36 a day
Cost for running each GPU ( assume 250w ) = 6Kwh @ .15p p/kWh = .90p running costs
Pool fees = 1%
Total Profit single GPU = £1.46 per day. Then you just need 150 days ( at current prices ) to pay back the cost of the card ( this is assuming your motherboard , 750w PSU , RAM and CPU were free )
If you get free power ( Cough ) then you'll get your money back quicker.
Note , this assumes the difficulty doesn't increase , which it does over time and thus if the price remained static ( circa $24 per litecoin ) and the difficulty increased you'll maybe break even after six months.
The speculation comes 'if' the price of a litecoin doubles in price.
Yes , you can make money mining alt-coins , especially if you have free power and good cooling but if you're going to speculate , save yourself the hassle and just buy a Bitcoin and wait.
This is coming from a man who's running some pretty serious mining H/W and in scale, because scale matters along with institutional funding...
Just putting the mining profitability into perspective.