user12599: I'm new to all of this... want some help with definitions such as GPU/CPU, etc..  
Also, I understand BTC is no longer relevant in terms of individually mining... what would I purchase for under $200 that I could use to mine litecoin or altcoin or anything like that?  

user6375: I recommend you try mining with your current hardware first for Litecoin and a less popular altcoin like Yacoin, then look to invest in hardware.  Litecoin is popular enough that it will take you multiple weeks before you earn enough in a Litecoin pool to withdraw.
You can compare Litecoin hardware output here:
https://litecoin.info/Mining_hardware_comparison
Yacoin is up and coming but is still low in difficulty enough that you can earn enough in a day or two and while using your CPU.
http://www.yacoin.org/
For an example to put it in perspective, on one of my machines, I mine for Litecoin using my GPU and I also mine for Yacoin using my CPU.  I am getting close to 5 Litecoins mined but I have already mined over 700 Yacoins.

12599: <p>I'm new to all of this... want some help with definitions such as GPU/CPU, etc..  </p>

<p>Also, I understand BTC is no longer relevant in terms of individually mining... what would I purchase for under $200 that I could use to mine litecoin or altcoin or anything like that?  </p>
 6375: <p>I recommend you try mining with your current hardware first for Litecoin and a less popular altcoin like Yacoin, then look to invest in hardware.  Litecoin is popular enough that it will take you multiple weeks before you earn enough in a Litecoin pool to withdraw.</p>

<p>You can compare Litecoin hardware output here:
<a href="https://litecoin.info/Mining_hardware_comparison" rel="nofollow">https://litecoin.info/Mining_hardware_comparison</a></p>

<p>Yacoin is up and coming but is still low in difficulty enough that you can earn enough in a day or two and while using your CPU.</p>

<p><a href="http://www.yacoin.org/" rel="nofollow">http://www.yacoin.org/</a></p>

<p>For an example to put it in perspective, on one of my machines, I mine for Litecoin using my GPU and I also mine for Yacoin using my CPU.  I am getting close to 5 Litecoins mined but I have already mined over 700 Yacoins.</p>
