LiteCoin Mining on EC2 is presently profitable, Hacker News
1) Bitcoin’s latest dramatic increase ter value. (LiteCoin’s value is powerfully correlated to Bitcoin’s.)
Two) The relatively low difficulty level for LiteCoin mining right now.
Three) Spot example pricing for the EC2 GPU (g2.2xlarge) instances.
Four) LiteCoin can be mined using both GPUs and CPUs (albeit GPUs are dramatically better, another
35 khashes/sec from the CPUs is still nice).
Interestingly, the previous average historical spot price for thesis instances wasgoed
$0.075/hour. The spot pricing has now leaped to $0.10-$0.12, depending on region.
Spil an added verzekeringspremie, you may be able to get $100 of AWS credit at http://aws.amazon.com/big-data/powerof60/ which would give you 2-3 free days of mining.
No, actually, Litecoin’s value is very different from that of Bitcoin and te the last week or two it skyrocketed from being 0.015/BTC to 0.05/BTC and back down to 0.04/BTC or so.
Spil a result of your postbode, ter just 2-3 hours, the spot price on AWS went to $0.20 vanaf example.
An interesting economic effect of this – prior to your article, the mining profits were flowing to the miners who figured this out on AWS. After your article, the profits are now flowing to the reserved example owners instead. Bastard.
If I were doing this, I’d sell the coins spil soon spil I got them. Even moreso than Bitcoin, with Litecoin the value is unstable and subject to crash at any uur.
seems like price has enlargened to 0.65(?!) vanaf hour. That doesn’t sound profitable.
edit: never mind, didn’t notice this wasgoed about spot instances.
Current price us-west-1a 0.101 us-west-1c 0.75
Gravely, with all the hype, I got suckered into buying bitcoin/litecoin just to realize that I can’t challenge against Chinese miners.
I guess I could buy coins and sit on them but there is no joy ter doing so. Arbitrage is practically unlikely because of the lagen time to pull hard metselspecie from the exchanges.
ter life, studying code is what has netted mij the most specie that i feel proud of earning
even then i hope you’re doin it for joy not investment. until it stabilizes its just kindof a crapshoot. i have long determined that id attempt it if its stable and succeeding spil a currency but not spil an investment since the economics are lachwekkend. its bot good for those who made a buck off it but its a spel and it may have many negative implications. many have taken losses on it already during crashes (or buying mining equipment — at least EC2 is more like renting, heh). i guess it’s buyer beware but i’m not totally wooed that the entire concept doesn’t amount to a scam, which is why i get a little fiesty about it.
if people determine its a scheme and no one wants to buy, the only winners will be those who recognized the potential of a pump-and-dump scheme and have bot cashing out onverdraagzaam and lumps all along