Bitcoin Forum

Okay Seeing as there is no section for litecoins...

Rumor has it that Litecoin is dropping its difficulty to 54 ish sometime tonight... (estimate)
1. Can anyone verify that as a probability

2. Will the price of litecoins drop?

3. any reason that this rumor may be true?

Move to 'other' - 'Alternate cryptocurrencies'

1. estimated next difficulty is 72.78451.
2. difficulty follows price, not the other way around

Perhaps BTC hysteria is driving LTC owners to BTC.

The exchange rate will drop as people compete to swap LTC for BTC.

thank you for answering :)

Price is not driven by difficulty.  It's driven by emotion.

The spike in Litecoin was fueled by the fear of a weakness in Bitcoin with the blockchain fork.

It was not driven by an actual increase in the utility value of Litecoin.

Once that fear emotion was gone, so to went the gains in Litecoin.

But...

Keep your eye on Litecoin.  When all is quiet, and it has been trading in a channel for awhile, be ready to buy on the first breakout.

Litecoin I believe will prove to be very valuable arbitrage opportunity between BTC/LTC.  Arbitraging the emotional differences between the 2.

But ya gotta be ready to act fast, fast, fast when the opportunities develop.  The charts will tell you, if you know what to look for.

I'm very grateful to have 2 viable crypto currencies.

P.S.  Same applies to Namecoin too.   

Hopefully I'll build my rig in time to take advantage of the drop in LTC price before it shoots up again. I'll probably only mine a little bit of BTC to clear out my Slush Pool account, then focus on LTC along with one of the other alts (either PPC or TRC).

The price appears to have fallen enough that the difficulty change will not make up for it. Bitcoin difficulty will go up a lot in about 3-4 days so that may make it more profitable if LTC price holds or increases for whatever reason.

Great post sir! I totally agree..

My personal take is that Litecoin is going to be to the world what was silver for the old world, and of course, Bitcoin is to the world what gold was to the old world..

I am not negging on ownership and diversification btw, silver and gold are still excellent investments.. (well anything besides centrally issued fiat paper is)

So I see the general public more and more getting, first, into Bitcoin and then realize that there are other cryptos to hedge their Bitcoin in.. and then the tango begins

This belongs in the alternate cryptocurrency thread

So it seems we're still at 96.15

How are people working out the difficulty drop and is it still likely?

Very likely in the 60s. It's based on the speed of finding the last 2016 blocks so all the info you need is in the block chain.

We'll know in a couple of hours hopefully.  The hashrate is still quite low, around 1.4GH/s, so if it holds, we should see the difficulty drop down to the high forties or low fifties.  If it holds. 

Many sites have estimates. http://litecoinpool.org/stats and http://give-me-ltc.com/network are looking at different amounts of blocks to estimate the increase.

I expect to see a diff. of ~55, unless people start mining slightly early in anticipation.

Why do people keep spreading this rubbish? Litecoin shot up from 6 cents to 50 cents BEFORE the hard fork occurred.

33 Blocks to go: http://allchains.info/

I'm confused, didn't Litecoin difficulty go up not down?

Well duh, of course it did.  People like me with piddly little GPU rigs are switching over to LTC mining in anticipation of losing all mining profitability.
BTW I'm now making 2x more BTC in the form of LTC than I was last week mining BTC directly because of the higher LTC/BTC valuation.  8)

When is the block reward halving?

I'm keeping an eye on the math between the two, but right now I am running everything on LTC, also on GPUs.  Sorry.  I'm sure more will be headed this way. But I found it no where as easy to set up as Bitcoin is. Unless I am particularly dense, that should slow down the influx somewhat.

Why did it go up? What makes difficulty go up?

If blocks are produced faster than the target rate (for litecoin, this is 2.5 minutes per block), then the difficulty increases. If blocks are produced slower, the difficulty decreases.

It tracks with hash rate.  More miners -> higher hash rate -> higher difficulty.

Thanks for the answers.

Well it is frigging nuts now... LTC difficulty has drop'd what 16% last 2 weeks and shows with 3 days left or so another 16% drop yet price is stable and going up

wtf did everyone decide thanksgving was the cut off date for not running unprofitable 600w gaw 23mh miners or some such?

i started with orig knc titan miner 11/8/15 at 1169 gh ltc hash rate ...last hashrate was 1142 gh wtf?

is it like a 'frogger reboot" the road looks clear but its a trap?

anyway i see nothing on why it is dumping in difficulty...right after halving I'd get this ...3 months late it has me confused

just saying..others on here with more smarts then myself?

One explanation might be that people shut down their miners because they are travelling to their families and don´t want to let them run without being able to montor them.
I also do that over xmas, so that might explain a bit of the hashrate drop.

Just a farm(s) moving or being upgraded, not that big of a deal.

any particular link to a farm of such a size doing such? I mean we are looking at 16% or so drop last 14 says say...and at 10% as I speak with around 2 days to go drop too boot

seems a bit much for one farm having issues or whatever

and again if it is a farm i'd think there would be some crypto press on such a dump ..but nada ...so again still confused :)

I think that if the difficulty goes down, the price do the same

It was -16% now it's -10%. At the end of the block cycle it will be about-8% and at the beginning it will be about +10%. These large farms have maintain their shit, it's just common sense, there's no link for that.

How exactly does this work? Like what is the 'timing' trick...shut stuff off ...turn it back on? Use small words I'm kinda dense..(investing in this whole 'virtual money" thing don't ya know) :)