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Litecoin Mining Difficulty

Starting To Mine Litecoins With Antminer L3+ From September 2017. Questions!

Starting To Mine Litecoins With Antminer L3+ From September 2017. Questions!

Starting to mine Litecoins with Antminer L3+ from September 2017. Questions! Starting to mine Litecoins with Antminer L3+ from September/October 2017. Questions about profitability predictions from the day one, possible ROI and lifespan of L3+ mining. I'm new here and new on cryptocurrency overall, so I apologize if I cannot be clear enough with my first post or if my perception of what I'm writing is totally wrong. I want to make my first investment on bitcoins/altcoins mining, but before I do that, I would like to get some suggestions and clarifications from you guys whether it's worth it or not, or whether my calculations are a simple newbie mistakes. It took me like two weeks of reading almost every day in order to understand the business of mining in general. First thing I've noticed was that I'm too late for this shit. I know! But better late than never. Anyways! In a meantime I got some knowledge about network difficulty, hashrates, electricity cost, etc, in order to calculate the profit and have in mind on what to look for and where. During this time of research, Antminer S9 was the first hardware that caught my eye, but then I got somehow disappointed from mining bitcoins after I saw the estimate profit and the ROI timespan. Then I've found the Antminer L3+ as the most profitable miner compared to the other mining hardware. To be honest, I was surprised when I saw the possible earnings of almost 1 LTC per day ($35+ at current rate) with one Antminer L3+, making ROI for 45 days estimated. Too promising! After all researches and calculations I did during this period, I made up my mind to invest in Antminer L3+, but then there was one thing at the end that made me think twice and also write this post. Shipping on 16-20 September (consider here shipping delay, plu Continue reading >>

Alternatives - Litecoin Difficulty And Reward - Bitcoin Stack Exchange

Alternatives - Litecoin Difficulty And Reward - Bitcoin Stack Exchange

How can I know difficulty value and reward for Litecoin network ? to get difficulty and reward for Litecoin network (instead of Bitcoin network) I'm looking for a way to get difficulty and reward using an API that can be queried every 15 minutes to make my own mining profit calculator. Current difficulty is around 100 and current reward is 25 LTC. The latest version of Abe supports getdifficulty, so you could run it yourself or convince the explorer administrator to upgrade. But this will be the difficulty as of the last solved block. I would expect "litecoind getinfo" to give a more accurate number during difficulty adjustments, and this does not require Abe or a website. As for the block reward, Abe lacks bcperblock. Perhaps the easiest route is to get the current block number (also available via getinfo) and calculate the reward. According to litecoin.org, the reward starts at 50 LTC and is halved every 840,000 blocks. In Python: def reward(blocknumber): return 50.0 / (2 ** int((blocknumber + 1) / 840000)) Adding 1 to the block number gives you the next block's reward, which is what matters to miners. Current versions of Abe support the getdifficulty API call. For instance, returns the current Yacoin difficulty. The problem with Litecoin is that both explorer.litecoin.net and litecoinscout.com are running outdated versions of Abe. For these older versions of Abe, difficulty at the time a block is solved is available; it should usually be close enough to the current difficulty. Here's an alternate approach I implemented to get Litecoin difficulty: get the blockchain height (/chain/name/q/getblockcount) Step 2 returns HTML which you'll have to scrape. Here's some C# I knocked together: private double GetDifficultyAbeAlt(string url_prefix, string chain_name){ WebClient Continue reading >>

Litecoin Difficulty Calculators Are Misleading. The Proper Approach To Difficulty Increases And New Hardware Roi Calculations. : Litecoin

Litecoin Difficulty Calculators Are Misleading. The Proper Approach To Difficulty Increases And New Hardware Roi Calculations. : Litecoin

These provide a number of outputs revenue rates over different time scales.. Hr, Day, Month..year.. Which makes them very very misleading. Let's walk through a couple scenarios and asses the current situation of the network, what difficulty rate increases are 'possible' and how hardware availability has an effect. If I were to pick up a Radeon 280x and get it hasing at ~700Kh (let's assume free electricity for the examples). One of these calculators would output the following: 0.36 LTC / Day10.75 LTC / Month130.88 LTC / Year Often times you see someone buying some new mining equip saying - oh s*&^ I can drop $300 on a new card and earn 10.75 LTC in a month. Leading to the assumption the hardware will pay itself off in just 1 month's time. However - reality quickly hits once you look at the network difficulty increases. The Litecoin network normalizes the difficulty every 2016 blocks such that the next 2016 blocks will have an estimated solution time of 3.5 days. Thus the difficulty will increase or decrease based on the network hashrate roughly ever 3.4-3.6 days (you should all know this - if you don't - read up ). Past difficulty increases have been between -14.82% and 20% with the last two increases being >13% - the largest 7 day increase in difficulty ever (source: - bottom of the page). With the recent increase in LTC/USD and LTC/BTC prices - GPUs have been flying off the shelves and it is a generally accepted assumption that we will see a large network hashrate increase in the near future. If we see similar ~10% difficulty increases every 3.5 days - we will be at a difficulty of 4600 in 1 month and 312000 in 2 months. The propagation of a 700Kh miner output is shown in the table here from my own calculator. ** Date Dificulty LTC/DAY LTCNetU SDNet** 12/3/2013 1964 Continue reading >>

Bitfinex Withdrawal Difficulties May Have Contributed To Litecoin Spike

Bitfinex Withdrawal Difficulties May Have Contributed To Litecoin Spike

Bitfinex Withdrawal Difficulties May Have Contributed to Litecoin Spike Some cryptocurrency traders are attributing the recent Litecoin spike to the withdrawal issues that have plagued Bitfinex in recent days. The theory proposes that customers of the exchange posting about Litecoin withdrawals processing successfully may have inspired a rush of Bitfinexs customers to convert their holdings into LTC as suggested by posts on Reddit. Also Read: Bitfinex Experiences Withdrawal Difficulties On the 8th of December, Litecoin Made an Aggressive Break Above the $100 USD Area The breakout saw Litecoin post gains of over 60% in just two days shooting up from an opening price of approximately $93.60 USD to set a new all-time high of nearly $160 USD, before closing at approximately $148.75 USD. The LTC markets have since retraced to test the $140 USD area, with many traders speculating on whether or not Litecoins bullish momentum can be sustainable. Some traders believe that the LTCs exuberant price action can be attributed to Bitfinexs current difficulties processing withdrawals. Over the course of the last week, Bitfinexs subreddit has increasingly become awash with posts from concerned customers complaining that withdrawal requests in a number of cryptocurrencies have not been completed after several days of waiting. Yesterday, a number of Redditors attested to having had Litecoin withdrawal requests processed quickly, potentially leading to a run of Bitfinex customers converting their holdings into Litecoin out of the hope that doing so would allow them to withdraw their funds. A Thread Titled If You Want Withdraw Convert All in Litecoin Has Generated Considerable Attention on Reddit The post states I was two days trying to withdraw btc and iota and eth without lucky, then I r Continue reading >>

How To Convert Litecoin Difficulty Of 6 To An Expected Time Per Block Solved?

How To Convert Litecoin Difficulty Of 6 To An Expected Time Per Block Solved?

How to convert Litecoin difficulty of 6 to an expected time per block solved? The current difficulty for mining Litecoins is about 6. If I mine them at 25kh/s, how often should I expect to solve a block with a difficulty of 6? I'd also appreciate an explanation (or formula) of how the calculation is done. Litecoin topics might be appropriate on the Alternate Cryptocurrencies board on the BitcoinTalk forum: bitcointalk.org/index.php?board=67.0 Stephen Gornick Jul 20 '12 at 0:10 @StephenGornick, my understanding is that all similar cryptocurrencies are within the scope of this site. meta.bitcoin.stackexchange.com/questions/15/ Highly Irregular Jul 20 '12 at 1:13 I don't know much about Litecoin, but if its difficulty works the same as in Bitcoin, then on average it takes approximately difficulty * 2^32 hashes to solve each block. Since you're calculating 25000 hashes per second, it should take you around 6 * 2^32 / 25000 seconds to solve a block. Or about 286 hours. Yes, that seems about right. What's the significance of 2^32? Does the numeric value of the hash need to fall under 1/((2^32)*D) where D is the difficulty, as part of the block solving algorithm? That would explain it. Highly Irregular Jul 20 '12 at 4:35 The answer to this question bitcoin.stackexchange.com/q/1453/516 has a formula for Bitcoin, but I couldn't make any sense of it. Seeing the similarity to your answer, I was able to fix it by adding some brackets that were necessary to get the correct result. I'm pleased to get that cleared up! Highly Irregular Jul 20 '12 at 5:13 See the link 'approximately' for too many details about this whole 'difficulty' thing. But yes - a difficulty 1 block needs to have a hash starting with 32 zero bits. That's where the 2^32 comes from. It actually has to be less than 0 Continue reading >>

Litecoin Difficulty Historical Chart

Litecoin Difficulty Historical Chart

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'litecoin Mining Difficulty Increases' |

'litecoin Mining Difficulty Increases' |

From Coindesk by Nermin Hajdarbegovic | Bitcoin mining on a standard GPU is a thing of the past. Put simply: its no longer economically viable, given the power consumption of discrete graphics cards and their relatively high price. ASICs are a no-brainer when it comes to bitcoin, however litecoin is a different story. Unlike its counterpart, Litecoin can still be mined using off-the-shelf hardware, namely via AMD Radeon graphics cards. There arent that many alternatives, either. There are still no ASIC products for Scrypt, litecoins algorithm, and this will not change for the next few months at least. It is rumoured that litecoin ASIC systems are being developed by Alpha Technologies, but it will be a few months before they hit the market. Furthermore, Scrypt is a very different beast, as it requires a lot more memory and different ASIC designs. This means that Scrypt ASICs could become significantly more expensive than the existing ASIC-based bitcoin mining solutions. Are litecoin miners causing a Radeon shortage? In any case, Radeons are currently the weapon choice for litecoin miners and earlier this week several tech sites reported that litecoin miners are causing a shortage of Radeon graphics cards. While it is true that some cards in some markets are in short supply, it is very difficult to attribute this to litecoin miners without any concrete data from AMD, its add-in-board (AIB) partners and distributors. Therefore, it is probably convenient to make such claims, as they cannot be easily disproven. Litecoin mining is booming, that is a fact. Over the last month or so, the litecoin hash rate has doubled, along with difficulty. It was practically flat in September and October. However, the rate currently stands at about 90GH/s, up from about 20GH/s in June. Continue reading >>

Litecoin Difficulty Chart

Litecoin Difficulty Chart

Bitcoin > Litecoin Data > Litecoin Difficulty Chart A chart showing litecoin difficulty changes over time. How many people do you think own bitcoin? I would like to receive the following emails: CoinDesk Weekly - Insights for the week ahead CoinDesk Daily - Our snapshot of the day's news Subscribe to our free newsletter and follow us Continue reading >>

Litecoin Mining Calculator

Litecoin Mining Calculator

Enter hashrate data for responsive chart! Enter hashrate data for responsive chart! Estimated Future {{coinSymbol}} Generated To save your configurations, simply bookmark the page you are on currently (Ctrl + D) or save the URL below! The diff change is the rate at which the network difficulty is changing every month. Diff change is used for the estimated future profits graph and break-even analysis. Typically in crypto, network difficulty tends to increase over time, meaning a miner will generate less crypto with the same hardware. Accounting for this changing difficulty is essential to generate long term profitability predictions. The diff change value is calculated by looking at the current difficulty and comparing it to the 12 hour moving average of the difficulty one month ago. For smaller coins the diff change can sometimes be inaccurate due to a wildly fluctuating difficulty. The diff change factor can be disabled by either manually setting it to 0 or clicking a "Use Diff Change" switch found below the graph and in the break-even analysis section. Diff Change value is very large. Future profitability estimates may be inaccurate. Consider making Diff Change smaller or turning off Dynamic Difficulty. Hashrate is the only value you need to input to use this calculator, we do the rest of the work for you! Hashrate is the speed which you are mining, and is normally clearly displayed by your mining software or in the specifications for mining hardware. Make sure that you have the correct hashrate suffix selected. For example, if your miner reports 600 GH/s, ensure that GH/s is selected and not TH/s. The Break-Even Analysis feature can help you predict how long it will take to become profitable for a given setup. Time to break-even is calculated by comparing your hardw Continue reading >>

Litecoin's Difficulty Falls To 2016 Lows

Litecoin's Difficulty Falls To 2016 Lows

Litecoin's difficulty has fallen to the lowest level in 2016 after the recent difficulty update. Litecoin is losing its luster as the 'silver to Bitcoin's gold' as other cryptocurrencies like Ethereum gain in popularity. Litecoins difficulty has dropped to the 2016 lows, even as Bitcoins difficulty reaches new all-time highs, in the latest Litecoin difficulty update yesterday, according to data from Bitcoinwisdom . Litecoin has been struggling to gain more popularity in recent months, especially after the recent surge in the price of Ethereum. Litecoin was once seen as silver to Bitcoins gold. However, the price of Litecoin has increased over the last few weeks when Ethereum has struggled, and it now stands at over $3.5 per Litecoin, according to data from Coinmarketcap . Litecoins hash rate dropped to 1,378 GH/s from 1,481 GH/s for a drop of 6.95%. This drop means the hash rate and difficulty reached the lowest points in 2016. Litecoin started the year with a hash rate of around1,480 GH/s and a difficulty of51,718. The current network difficulty is48,114. On the mining front, there are no reliable ASICs for scrypt yet that can consistently outperform GPUs and make a profit after taking the hardware and electricity costs into consideration. Litecoin was the first major coin to shift to scrypt from SHA-256, which is a memory-intensive proof of work and therefore any ASICs will only have a limited upside compared to regular miners, since memory is more expensive than simple processing. Litecoin currently stands behind Bitcoin and Ethereum in total market capitalization. It is almost 4 times the market capitalization of the next cryptocurrency on the list, which is currently Dash. Litecoin has been at this place in a steady state, even as several other cryptocurrencies wa Continue reading >>

What Is Litecoin Mining? Learn All You Need To Get Started.

What Is Litecoin Mining? Learn All You Need To Get Started.

What is Litecoin mining? Learn all you need to get started. Litecoin mining is done by specialized computers and hardware. It serves two main purposes: 1) It secures the network and verifies transactions. 2) New litecoins are paid out as a reward to miners. The Litecoin mining industry is less developed than Bitcoins. ASICspowerful computers designed to solve Bitcoins proof of work functionare available for litecoin but difficult to purchase. Because Litecoin uses a different proof of work function Bitcoin miners cannot mine litecoins. Its possible, for example, to buy a Bitcoin Antminer S7 ASIC on Amazon for $714. No such miners are available for Litecoin. The best Litecoin mining hardware available for purchase are graphic cards , but they are not profitable. If you are serious about mining litecoins, one option is to simply mine bitcoins with hardware like the Antminer S7 and convert the earned bitcoins to litecoin. So, how does Litecoin mining secure the network? Like Bitcoin mining, Litecoin uses proof-of-work which makes mining a costly process in terms of both time and energy. In order to send litecoins, transactions must be included in a block. Litecoin miners then verify these transactions through proof-of-work. The miners check incoming transactions against previous transactions on the blockchain. If no double-spends are detected, the miners create a block with new transactions and add it to Litecoins existing blockchain. Each new block is then sent to nodes on the network. The nodes use the miners work to continue to verify and transmit transactions across the network. As mentioned earlier, Litecoin mining requires vast amounts of time and electricity, which isnt cheap. The block reward is paid to miners for each block mined, which provides an incentive for Continue reading >>

Litecoin Difficulty And Hashrate Chart - Bitcoinwisdom

Litecoin Difficulty And Hashrate Chart - Bitcoinwisdom

Average block generation time of 1008 blocks. If grey line less than blue line, The generation time is decreasing. The more grey line is lower than blue line, the faster generation time is decreasing. After 2016 blocks generated, Litecoin will adjust difficulty to estimated difficulty in order to keep the block generation time at 150 seconds. Continue reading >>

Litecoin Difficulty - Crypto Mining Blog

Litecoin Difficulty - Crypto Mining Blog

All About BTC, LTC, ETH mining as well as other alternative crypto currencies Litecoin (LTC) Hashrate Analysis Post Halving Charlie Lee, the creator of of the popular alternative crypto currency Litecoin, has posted on Reddit a short and interesting analysis on why a few weeks after the first block reward halving the difficulty and price of LTC has returned to the level it was prior to the event. Below you can find his post quoted: After the halving one would expect that either the price will go up or the hashrate must drop. This is because mining is designed with a Nash equilibrium of miner profit reaching 0 over time. So if miners are running at near 0 profit, and suddenly their revenue gets cut in half, miners would need to turn off their machines unless they are willing to mine at a loss. The halving happened, and the price stayed the same. The hashrate dropped a little but then climbed back up pretty quickly to the previous level. Thats really unexpected, but I think I have an explanation. I talked to some Chineses miners at Scaling Bitcoin and learned something interesting. Most miners have found electricity for free or close to 0 cost. Chinese hydro power plants are sometimes generating too much electricity. That electricity goes to waste if its unused. So these plants have either sold the electricity for near 0-cost or they have partnered with miners to give them free electricity for a revenue share. So this makes total sense now. If the electricity is free or close to 0 cost, then theres no reason for miners to shut down their machines. They make half as much, but still profitable. These miners have also been asking around at the conference to try to buy old outdated Bitcoin/Litecoin ASICs. With 0-cost electricity, they can keep those machines running and stil Continue reading >>

Litecoin 101: How To Build Your Own Mining Rigs

Litecoin 101: How To Build Your Own Mining Rigs

Litecoin 101: How To Build Your Own Mining Rigs UPDATE 3: Nvidia has changed the game , so a new guide is in progress. Were still not even sure who created Bitcoin, the first cryptocurrency to go mainstream. Its value is erratic, swinging dramatically up and down within weeks. We dont know who will adopt or condemn it next, but one thing is certain: This new form of decentralized currency is resilient, and you can mine it, trade it, and sell it using nothing more than off-the-shelf PC parts geared toward gamers. Former Google employee Charlie Lee, Litecoins creator, refers to it as silver to Bitcoins gold. His intent was to improve on Bitcoin and, in the process, make it more accessible and obtainable. Indeed, Litecoin can be mined by off-the-shelf PC components typically snatched up by gamers. The Forbes E-book On Bitcoin Secret Money: Living on Bitcoin in the Real World, by Forbes staff writer Kashmir Hill, can be bought in Bitcoin or legal tender. But if youve been drawn in by the headline, youre not here for a history lesson. Youre here to jump into the Litecoin mining pool. With that in mind, Im going to present two distinct PC builds focused exclusively on Litecoin mining and explain some of the basic requirements and best practices along the way. First, let me qualify myself: Ive been mining 24/7 for the past two weeks; not long, but obsessively. Ive scoured dozens of forums and Reddit threads for answers and engaged in a lot of trial and error. Ive successfully turned what I instinctively viewed as funny money that existed in an encrypted digital Litecoin wallet into actual $USD deposited into my checking account. If its impossible to wrap your head around that, youre not alone! Next, Im going to caution you: Like playing the stock market or investing in genera Continue reading >>

Litecoin Difficulty And Hashrate Chart - Ltcwisdom.net

Litecoin Difficulty And Hashrate Chart - Ltcwisdom.net

This graph needs a bit more explanation. The block times are indicative of how the hashingrate is changing over time, with the proviso that the time it takes to obtain any given block varies from block to block even if the hash-rate stays the same. To counter this variation we average the last 504, and the last 1008 block times, and seewhat the difference is between them - this is what is being plotted. The grey line is the time it took to find a block, averagedover the last 504 blocks. The blue line is the time it took to find a block, averagedover the last 1008 blocks. When the grey line is lower than the blue line, the block-generation-time is decreasingwhich means the hashing power is increasing over time. The further the grey line is below the blue line, the faster the block-generation time is decreasing. After 2016 blocks, Litecoin will adjust the difficulty (the red line) to the value of theestimated difficulty (the purple line). Worth noting that there's a small scaling issueI have yet to resolve on this where the two aren't *quite* meeting. I'll fix it soon. The above graph shows the distribution in hash-rate for the time-period for which wehave sampled data. Continue reading >>

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