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Pros And Cons Of Mining Litecoin

Cloud Mining - Pros And Cons

Cloud Mining - Pros And Cons

As you know, "laziness - the engine of progress". But not in the earning of money. Search Google and Yandex - they are full of headlines "Quick earning at home" and "How to make money without investing". Many people make their choice in favor of cryptocurrency, but until the end, not being sure - is it possible to earn in this way. Yes, it is! And you can earn quite a lot, but it also requires strength, knowledge, investments and patience. Those who deal with cryptocurrency know several ways of earning: you can earn, buy, sell, store and play at the markets. However, cryptocurrency miners know that it is - not a cheap pleasure, because equipment for mining is quite expensive. To simplify the process of crypto gold and silver mining, miners have pooled with their equipment in order to extract "coins" faster, albeit in smaller amounts. There are also miners, who are not willing to invest thousands of dollars in equipment, but they also want to join the production of the new generation currencies. For lack of funds, they are turning to the cloud mining services, who provide rental of their facilities. At the dawn of cryptocurrency mining, miners could use their processors and graphics cards. But time does not stand still, cryptocurrency rate increases, and on the home production of coins began to leave more time and money. Thus, mining on an usual "home" hardware became inefficient and unprofitable. To cover all the costs and start earning, miners began to improve their farms: by new expensive graphics cards, processors, cooling systems, insulation, etc. Some of those, who can afford a special "unit" for the mining of "coins" - "ASIC", gave a lot of money (from $ 1,000 to $ 100,000) to mine more quickly and better. Then, the producers of cryptocurrency production "monster Continue reading >>

Asic Vs Gpu Try Mining

Asic Vs Gpu Try Mining

From mining to Al, GPU is very good at complex computations, no matter the type. It can mine any type of coin. as well as get converted to Al machine or something else if mining is no longer profitable. Even though only AMD and NVIDIA design GPUs, many companies such as ASUS. EVGA. and Gigabyte manufacture and resell GPUs. This creates competition. and prevent a single entity from controlling the market. Goes into a standard chasis and motherboard. Creates an inexpensive system. that is reliable. easy to support. and reusable. Cannot profitably mine coins like Bitcoin and LiteCoin, or any coin that has ASICs available. GPU mining has benefits to the network not discussed here, which is why coins like Monero are unlikely to go to ASIC. New blockchains like Ethereum can perform different types of calculations on the blockchain. Because of this, you are unlikely to ever see ASICs on Ethereum. There will always be a significant number of coins that are ASIC-resistant. The chances that one of those coins becomes profitable is higher than picking a singular coin and hoping that that one coin succeeds. There is a situation where ASICs are beneficial. If you have a large equipment budget, access to very low cost electricity, and you are OK at sticking to one coin for the long run no matter what - ASICs are by far the best choice for you. However, if you want flexibility and freedom from a singular coin, GPUs are the way to go. Continue reading >>

Pros/cons Of The Top 10 Cryptocurrencies In Market Cap Everyone Need To Know(1)

Pros/cons Of The Top 10 Cryptocurrencies In Market Cap Everyone Need To Know(1)

Pros/cons of the top 10 cryptocurrencies in market cap everyone need to know(1) This is an article for potential investors and people interested in the hottest ethereum/blockchain project recently. This can also serve as reminding notes to organize information as there are so many altcoin s now and people are easily confused with. Current market cap rankings and information can be found here . Note that this is my personal view and observations and should not be considered as financial advice. Bitcoin(BTC): The first successful cryptocurrency, Owning around 46% of the crypto market. The most accepted and easy to trade crypto in the current market, with sufficient resources online for everyone to learn more about. Has a large community and unlikely to disappear suddenly or found as spam which have happened to other altcoins. High transaction fee and scaling problem: As average block ming time is 10 minutes and blocks in bitcoin are limited to 1MB in size, which allows only 3 transactions per second, number of transactions to be mined raises incredibly. Transaction fee thus increases while miners are prioritizing transactions with a higher fee. See the following transaction fee chart: Consensus problem: Reaching agreement is also not easy in bitcoin due to its large community. There are always different supporters. A good example is the recent solution for scaling problem, SegWit and bitcoin cash(covered later in this article). Some even joke that bitcoin is the Nokia in the world of cryptocurrencies. 2. Ethereum(Ether, ETH): Ethereum is a decentralized platform that runs smart contracts written in Turing complete programming languages such as Solidity. Ether was created as a cost for programs to run in Ethereum. Ethers will always be needed to execute code on Ethereum, Continue reading >>

Better Alternative To Bitcoin Litecoin (ltc) Overview

Better Alternative To Bitcoin Litecoin (ltc) Overview

Litecoin is an open source, peer-to-peer cryptocurrency project aiming to provide the world with a digital currency option. Litecoin is one of the oldest cryptocurrencies in the space using blockchain technology for transactions similar to bitcoin. Litecoin provides a better solution to digital currency transactions because it allows for faster processing times.Litecoin and bitcoin are very closely aligned. BTC uses SHA265 encryption and LTC uses Scrypt.If a flaw is found in SHA256, then LTC security would be unaffected. The same principle applies if there was an issue with scrypt. Litecoins practicality is to be used for more of an everday purchase payment currency. This is because litecoins price is much lower and it has 84 million coin cap (bitcoin has 21 million). Litecoin is usually referred to as the silver of the digital currency world while bitcoin being the gold. Be sure to follow Cryptocolumn for updates! Best of all it's free! Scrypt algorithm Intended to keep ASIC miners out to better distribute hash power among the users. There is a semi-efficient ASIC implementation but it is still better distributed than Bitcoin.LTC can be mined using GPUs (AMD). Despite this, miners are still heavily invested in the coin overall. Fast transactions Litecoins blocks complete in 2.5 minute blocks while bitcoin is every 10 minutes. Instead of waiting 10 minutes per block (average but varies due to network congestion), Litecoin is only around 2.5 minutes. Early Segwit adoption Anti-spam transaction filter Litecoin implemented an effective anti-spam filter very early on. Bitcoin implemented an updated fee structure which is similar to the anti-spam function but later. Litecoin was the first cryptos to implement Segwit. The segwit and anti-spam filter has both helped reduce Li Continue reading >>

Litecoin Can Be Your First Cryptocurrency Investment

Litecoin Can Be Your First Cryptocurrency Investment

Litecoin can be your first cryptocurrency investment 05 Jun 2017 | By Anish Chakraborty While cashless transactions via mediums like Paytm and MobiKwik are quite popular now, the acceptance of digital currencies or cryptocurrencies is also on a rise; some parts of the world will now even accept them instead of cash. While Bitcoin remains the leading cryptocurrency , an alternative like Litecoin is a good first step for beginners. Here's all you need to know about Litecoin. In context: Litecoin - Everything you need to know 05 Jun 2017Litecoin can be your first cryptocurrency investment While cashless transactions via mediums like Paytm and MobiKwik are quite popular now, the acceptance of digital currencies or cryptocurrencies is also on a rise; some parts of the world will now even accept them instead of cash. While Bitcoin remains the leading cryptocurrency , an alternative like Litecoin is a good first step for beginners. Here's all you need to know about Litecoin. Created by a Google employee, Charles Lee, in 2011, Litecoin is the sixth largest cryptocurrency with regards to market capitalization. It is a peer-to-peer decentralized Internet currency, which has almost zero payment cost and facilitates instant payment. It operates on an open source software; released under MIT/X11 license it enables individuals to "run, modify and copy" the software to suit their own needs. Continue reading >>

How To Mine Litecoin And Other Altcoins

How To Mine Litecoin And Other Altcoins

CoinDesk Launches 2017 Year in Review Opinion and Analysis Series While it is now considered too late for hobbyists without expensive ASIC processors to start mining bitcoins , many of the alternative digital currencies are still well suited for mining on your home PC. In this guide, well take you through all you need to know to start digging up a few litecoins, feathercoins or dogecoins without any costly extra equipment. For the most part, cryptocurrencies employ either SHA-256 or scrypt as their proof-of-work hashing algorithm, but many of the newer currencies have opted for scrypt. Row of Gridseed litecoin miners set up. Copyright: Arina P Habich Scrypt tends to be the more memory intensive of the two however, home PCs with reasonably powerful graphics cards can still mine those cryptocurrencies quite effectively, as there are no dedicated ASICs to compete with yet. Perhaps surprisingly, its still possible to use just your computers CPU to mine some of the digital currencies. This holds true, even if you have only a laptop with integrated graphics; though this may not prove terribly effective and is not a set-up we would recommend. Before you start mining, you will need a wallet to keep your hard-earned coins in (see our guide to storing bitcoin ). A good option is to head to the homepage of the currency you intend to mine and seek out the download link for the default wallet app. If you would like to do more research into litecoin specifically, we have a guide on how to get started. If you find yourself in need of help and advice, most altcoins have community forums, as well as their own subreddit . The majority of wallets are based on the original Bitcoin-Qt client. Be warned, though, that before these wallets are truly usable, you may face a lengthy wait while t Continue reading >>

Cloud Mining - The Pros And Cons In 2018 Alt Coins

Cloud Mining - The Pros And Cons In 2018 Alt Coins

TOP-9 of the most reliable and large sites Cloud mining is the production of Bitcoin, Litecoin, Zcash, Dash, Ethereum and other cryptocurrencies (more than 1400 altcoins), using special cloud services, accumulating capacities in their data centers and farms. This is a new model of earnings, which creates groups (mining pools), with one goal: to obtain more revenue, in comparison with the usually distributed mining, due to the management of equipment on the part of the contractor, which solves all issues on the technical and software components. The profitability of cloud contracts is because the companies providing the service themselves are usually producers of production equipment (ASIC). This significantly reduces the cost and cost of mining, and the consolidation of data ASIKov in large data centers minimizes the cost of maintenance. Thus, this model of work is beneficial for all participants, since it allows to significantly increase profitability and get a more significant profit. That is, in simple terms, a specific company produces or purchases equipment for mining, and then sells its capacity to end customers, while maintaining equipment, electricity costs, setting up and connecting to the Internet entirely fall on the companys shoulders. Cloud service deprives customers of most of the problems and difficulties accompanying the production process: interruptions in the operation of the Internet and electricity network (there is no equipment downtime), setting up and maintaining the equipment in a working condition (the paid capacity is constant), high noise and heat generation (there is no need to cool the room) legal issues in the field of legislation and taxation (became relevant at the end of 2017). Some companies charge a small commission for their work, wh Continue reading >>

Mining Litecoin 2018 | Complete Guide To Mining Litecoin

Mining Litecoin 2018 | Complete Guide To Mining Litecoin

Litecoin is a cryptocurrency that uses an algorithm known asScrypt. Litecoin is convenient as it can handle big numbers of transactions because of its fast block generation. Litecoin mining is the process of doing mathematical calculations with computer hardware, for confirming transactions. As a miner, you need to gather transaction fees, confirm them and be awarded Litecoins for each block that you verify. If you are interested in mining Litecoin then you are in the right place. Do you want to know how to mine Litecoin? Well, here are some methods of Litecoin mining with their pros and cons. If you dont want to spend a lot of money on equipment, but youre very much interested in Litecoin mining then cloud mining is a good solution for you. Cloud mining services rent out their facilities. It is a good alternative for minimizing costs as a miner (cheap electricity, low fees) and for being more productive. Cloud mining rates for Scrypt algorithm miners is $7.50 per 1 MH/s, with a minimum hash rate of 1MH/s, maintenance fee $0.005 / 1 MH/s / 24 hours. As you see, mining Litecoin may be rather profitable and you can have a breakeven in around 100 days. The hardware costs vary depending on speed, to give you an idea about the current prices: Radeon HD 7990 speed 1100 KH/s, power 375 W, Price $600 Radeon HD 7970 speed 700 KH/s, power 250 W, Price $310 Radeon HD 7950 speed 600 KH/s, power 200 W, Price $255. When you do solo mining, you keep the rewards just to yourself. Currently, the award per block is 25 new Litecoins (the number is halved with every 840,000 blocks). The rewards might not be as sustainable as in case of pool mining and might be a bit more complicated to start with. Solo mining the costs are a lot higher and to have a better idea you should check out the sp Continue reading >>

Pros & Cons Of Litecoin ?

Pros & Cons Of Litecoin ?

I missed a chance to buy Bitcoins down around $400 [I didn't have the time/patience to open the right account] and wondering if there is any future potential. Are there any major pros & cons I should be aware of? -good insurance for if there is a problem w/ bitcoin -second biggest market cap. second biggest coin. second mover advantage. -Charles Lee has said that he "will quit" Coinbase if it does not integrate LTC. Integrating LTC would instantly bring in thousands of retailers and hundreds of thousands of active Coinbase accounts. -LTC is BTC on steroids. It went from about $1.50 to $49 during the crypto bull market last fall. -Anecdotally it seems the Asian community likes the coin -BTC catches a cold. LTC is on life support with pneumonia. -there are lots of altcoins out there. then again, there were lots of altcoins last fall also. I agree to all the above pro's and con's. Litecoin became immense popular when the ASIC-hardware invaded the Bitcoin-space >> this pushed out all the PC's with VGA cards (whole farms of them in regular houses) to script-mining: especially Litecoin. This ASIC invasion made the Bitcoin space more professional as huge capital flowed into ASIC farms and it pushed the Bitcoin-price up as well (the production-costs per Bitcoin grew and so did the ask-price). Today history repeats: now there are ASIC's coming to the script-space, this pushes out the VGA-miners to other encryption-method-coins (like X11, X13, etc). And professional investment money will flow to Script ASIC-farms >> probably pushing up Litecoin's Ask-price as well. Continue reading >>

Pros And Cons Of Starting Bitcoin Mining Farm, No More Childs Play

Pros And Cons Of Starting Bitcoin Mining Farm, No More Childs Play

Pros and Cons of Starting Bitcoin Mining Farm, No More Childs Play Cointelegraph looks into main aspects you need to consider before setting up your own Bitcoin mining farm. This material was sponsored by UFOminers . By now you understand everything about what Bitcoin is and how it works, youve been buying and selling it vigorously, and every time you discover a place accepting Bitcoin as a form of payment you feel like its Christmas. You know for sure what mining means, and if you have had a chance to mine Bitcoin back in the day, you have probably managed to make a profit out of it. Bitcoin mining is becoming more competitive Remember the days when computer CPUs (central processing units) were widely used to mine Bitcoin? Miners quickly moved on to using the GPUs (graphical processing units), as it was discovered that they could offer more hashing power compared to CPUs - they were able to hash data 50 to 100 times faster and, which is important, consumed much less power per unit of work. Nowadays, serious Bitcoin mining is carried out by dedicated Bitcoin mining hardware ASICs (Application Specific Integrated Circuits), usually in thermally-regulated data centers with access to low-cost electricity. It is still technically possible to mine Bitcoin without those, but one obviously earns less. Mining Bitcoin on a computer will cause more damage to the computer, compared to making a profit. If you would like to mine Bitcoin just to see how the mining process works, then go for it! But if you want to mine more effectively and keep on earning coins or mining shares, youll probably need to invest into buying specialized hardware. Bitcoin mining is becoming more difficult, and the competition is increasing. As demand surged, so did mining difficulty , resulting in the incr Continue reading >>

Pros And Cons Of Investing In Litecoin: 2018 Litecoin Price Predictions -sat May 19

Pros And Cons Of Investing In Litecoin: 2018 Litecoin Price Predictions -sat May 19

Pros and Cons of Investing in Litecoin: 2018 Litecoin Price Predictions -Sat May 19 Litecoin is an open source project, which means that it has the capability and flexibility to implement relevant and useful tech improvements, such as SegWit and the lightning network. In that matter, it is an improved Bitcoin version, which is logical since it was a fork of it. Litecoin Predictions: A solidly built network that oozes potential in 2018:Although some altcoins are earning prestige and global relevance with each passing day, Bitcoin is still hands down the most prominent cryptocurrency in a market with increasing appreciation of the benefits that cryptography and the blockchain technology can provide transactions. However, that doesnt mean that there isnt space for altcoins to grow, and solidify their spots as successful ventures and companies. Among them, Litecoin seems to be the preferred option for savvy investors in the crypto universe. For reference, altcoins are all the distinct cryptocurrencies from Bitcoin, the industrys leader since 2009, and Litecoin may the best, most secure, and the one with the most untapped potential. Abbreviated LTC, or , Litecoin can be defined as a peer-to-peer cryptocurrency and open source software project. It functions under the MIT/X11 license, and Charlie Lee created and developed it. As is the case with Bitcoin and most altcoins, Litecoin is a decentralized entity, which means that it functions without a central authority or governance agency. The system allows the creation and transfer of tokens, based on an open source cryptographic protocol. The latest release of Litecoin is the 0.15.1 version, from March 2018. C++ is the code language, and the compatible Operating Systems are Windows, OS X, Linux, Android. The Litecoin Core Devel Continue reading >>

Total Newbie, Bitcoin Or Litecoin Most Longterm Profitable? Safest Bet?

Total Newbie, Bitcoin Or Litecoin Most Longterm Profitable? Safest Bet?

Total newbie, bitcoin or litecoin most longterm profitable? safest bet? 3rd attempt at posting due to laptop deleting the bloody thing on catching back buttons I am exited to be here (they say flattery gets you everywhere I have a friend that has a water turbine with about 8kw of power that I can utilize onsite. (something about feed in tarrifs and doesn't get paid more if he sends it back to the grid! lucky him!) so it hits me.... use the power and bit mine! im looking to mine either bitcoins or litecoins but once I buy the hardware I can no longer retreat with the power 'kw' (and cash) available I am looking at buying :- 5 x Antminer T9 - 12.5 TH/S (or s9 as T9 is not available) = approx. 55 TH/S = 9.67 BTC mined per yr (at current hash time etc) 6 x Antminer L3+ 504MH/s = approx. 3000MH/s = 4800 LTC mined per yr (at current hash time etc) a stable currency seeming to be upward bound. hash time is circa 5 weeks per coin (using above H/W) will have to use a pool (cuts into payments) trends seem to show a low average LTC - $ can anyone give me their thoughts on which to go for... ?!? looking at litecoin calculator online I had a small wee, todays rate would yield $70k per yr lolol I have done some research and I want to play it safe on returns, even though BTC is high right now if it drops it seems you have a lot more to loose vs Lite coin. BTC are currently $1300 a block it seems to be going up and up (lets hope it does) but lets air on the side of caution and looking at history im going to base my blocks on $700 seems fair? again the same with litecoin, its at a whopping $15 right now but if I want to be cautious for payback I am going for lowest average of $2.5 per block, the trends seem to show an average of maybe $3-4 average lowest. BITCOIN my equiptment = 9.67 m Continue reading >>

Bitcoin Pros And Cons Schools Infrastructure Where Spend Litecoin

Bitcoin Pros And Cons Schools Infrastructure Where Spend Litecoin

Bitcoin Pros And Cons Schools Infrastructure Where Spend Litecoin Create an experience, not just a transaction. The problem is even if they do not have to pay for electricity e. They need people to do all of these pesky maintenance things. They have been accepting Bitcoin since And this happens on a regular basis: Trying to reinvent hospitals without talking to doctors or nurses would be short How Much Cloud Mining Power For Ethereum Altcoin Portfolio Tracker Taxes just as building a car without talking to mechanics and engineers would likely be asking for problems. Some services, including Dwolla and Ribbon, encompass both consumer transactions and peer-to- peer payments. The examples are. Just a cool image. Some brands have turned positive actions on the part of consumers into a form of currency. The inspiration behind Remitly came when Matt was working for Barclays in Kenya and saw how difficult it was to send and receive money overseas. When something is worth more than a dollar, there becomes incentive to start accepting that as payment for goods. The disruptive potential of smart property for the entire financial industry, not just fiat credit facilities, is enormous. He learned he could make more money mining than just running the station. Matt was drawn to the global impact his business could have: Loading comments Trouble loading? That said, the financial sector is full of pitfalls: This year, smart wristbands have also been popping up at music festivals. Charles Stross, the British Scifi author, recently criticized Bitcoin and the cryptocurrency endeavor, wishing that it die a quick death in fire no. And the more seamless the transaction, many believe, the less restrained a consumer will be. His rationale is the following, reused with his permission: Over the Continue reading >>

How To Mine Litecoin Windows What Is A Split In Terms Of Cryptocurrency

How To Mine Litecoin Windows What Is A Split In Terms Of Cryptocurrency

How To Mine Litecoin Windows What Is A Split In Terms Of Cryptocurrency January 12, at 6: It does have a few issues that could lead to problems, but these will get worked. The first step in expanding acceptance is for large companies to accept them, and some. Have a breaking story? I have built my cryptocurrency portfolio using a risk-reward formula that is acceptable to me. Notify me of new posts by email. At this point, coins will probably start to fall out of circulation without a replacement. There are other coins that are popular that use Scrypt as well, so Litecoin miners can be used to mine those if they are more profitable. Cryptocurrencies are not Gas Bitcoin Best Gpu Settings For Mining Ethereum in any single country or jurisdiction, because the ledgers and servers are spread out over the globe. Looking at the charts of the four largest cryptocurrencies after conversion to USD, it looks like there has been a significant increase recently in all four not all the same scale, as these are the lifetime charts. It appears to be doing well, and there are many supporters of the Coin. However, if you want to maximise profits you should learn how to swing trade cryptocurrency. Personally, I have a high tolerance to risk and have invested in some coins which other traders find baffling I was widely criticised amongst my crypto buddies for investing heavily in Ripple and Siacoin although both paid off big time. Ripple is its own exchange, and hence there is no fear of an exchange vanishing like the fiasco that was Mt. Zclassic is How To Work Poloniex Chart How To Read Crypto Candles fork of Zcash with two changes. This is not feasible for paying on-the-go. How Does Ethereum Work? So, you were going to hoard a boatload of coins and dump on a bunch of unsuspecting n00bs w Continue reading >>

Pros And Cons Of Cryptocurrency

Pros And Cons Of Cryptocurrency

With cryptocurrency growing in popularity and usage across the world, many are asking themselves whether or not they should invest in Bitcoin or a similar altcoin. The following list of pros and cons aims to shed some light on this ever-emerging digital space. Its thought that around four billion people worldwide have no bank account, seemingly showing that there would be a demand for a currency that can be accessed easily online. The lack of a need for banks results in decentralisation and allows individuals to have full control over their money, cutting out the third party. With the growth of the digital world, having an easy way to pay online is becoming more and more essential. Cryptocurrency makes this possible, which also greatly increases the speed of transactions. Rather than waiting for several working days for money to process as used to be the case with cheques funds can be sent in just 10 minutes. Cryptocurrencies are becoming more and more popular among young people, who have little knowledge about the stock market and see altcoins as a viable investment alternative. Although cryptocurrencys usage is increasing, it lacks application in the real world. There are still relatively few businesses who accept Bitcoin , for example. A lack of information and understanding about cryptocurrency transactions makes it difficult for governments to regulate or tax, leading to a host of criminal activity and problems for investors. Fears of exchanges being hacked are also a real problem and issues with wallets cause a lot of uncertainty. Bitcoin mining uses incredibly large amounts of energy that could prove to be detrimental to the environment. Without reducing its carbon footprint, cryptocurrency could soon worsen the state of the Earth to disastrous consequences. Bec Continue reading >>

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