I am unsure if this goes in the alt section or Bitcoin section, as the lightning network is designed specifically for bitcoin?. I have been trying to get my head how the lightning network works, I understand how the bitcoin protocol works, I was struggling to work out how it would move coins one owns off/on blockchain to and from the lightning network, although I finally riddled out that it uses multisig addresses on blockchain to do that it seems? I like the idea of the lightning network.

Litecoin was developed for micropayments and is a reasonably secure chain as well with a decent hashrate and active development and its price has remained stable. With the introduction of the lightning network, where does a coin like litecoin stand? Most alts in my opinion are shitcoins, but I do feel litecoin has some value given the nature of it and it is also a reasonably secure blockchain. Diff is currently around 45 - 55K on average, but scrypt is much more intensive to compute than sha256d

Where does Litecoin stand now in relation to the bitcoin lighting network? As its use for micropayments would be overtaken somewhat, but it is a highly secure chain with active ASIC development still in progress. Bitcoin is the #1 of all coins, but I still think LTC holds a #2 spot...

So where would the usecases of litecoin stand at this point? Any advantages of having a second highly secure blockchain based coin or the chain itself? A blockchain with a decent capacity too I might add.

So I have added a poll to see what opinions are. As some will undoubtedly believe that the lightning network isn't the answer. Even if it isn't I don't think having billions of different coins and blockchains helps either

That's an awesome project

And look whos in first place =-D

I am lucky today, lucky shares from my ant, plus solved two blocks of litecoin, although I was pooled, I solved them at over 200% diff in the same day with my KNC titan. Should have soloed

I think people just post LTC is dead to make the price plummet, to buy it then to resell it. So to create a slump so they can then wait for the pump.
A few miners? Tbf its hashrate distribution isn't that bad, once my titan has ROIed I will be solo mining on my own node with it.

diff has been dropping past few days, looks like its estimated to retarget back up again!

Just hit a block on litecoinpool after 3 days of mining with my titan

Jacob

I admit i grow tired of reading posts on here where litecoin is 'dead', yet compared to 99.9% of all other shitcoins it has maintained a very steady price. It just isn't a get rich quick coin. At least litecoin isn't total dogshit.

3 days in and i found my first block, mined 8 coins so far but have hit 1 block in this pool so far, best share of 60k, thats  good luck

http://explorer.litecoin.net/block/49bee877ab2975373f97d33236c353dc196b7f47be01b8ff38dc0b4441be68e7

EDIT: Found a second block today at 144k diff. Thats two blocks in a day at 380 MH/S, currently earned about 9 coins on this pool.  I guess though thats the nature of a pool, remove the variance : ) heres to block #3, if that happens id wish i soloed (although i would have got different work and may never have hit, i think given the size of my investment its safer to stay in a pool until ROI) I hope my two solves today helped with the pools overall luck

EDIT: Tried another pool, went back to this one. Have mined a total of 24 LTC from this pool but hit FIVE blocks in that time I have been mining here. :O

Jacob

the litecoinpool resutled in 0.04 BTC a day, rather than 0.028 BTC a day. I am best not mining here with my titan it seems.

This mod made the KNC titan a dream to use. Mines stable now! I will be buying this again when i get another titan!

I pay 9 pence per kWh in the day and 4 pence pew kWh in the night as part of a moneysupermarket sainsburys energy switch offer. But before I was on 16p/kWh day, 6p / kWh night. A KNC titan can profit with its power usage at both of these rates in the UK. Most scrypt miners if your electricity isn't free will take a LONG LONG time to ROI. Period. Some you will even mine at a loss.

The KNC Titan is the most expensive miner available on the market for  consumers which is scrypt, uses roughly 1200 - 1800w of power depending on the rig, but average selling price is around £2000 with PSUs.  But even at 16p/kWh, profit IS possible, roughly 1 year to ROI at that electricity price according to my math if you take the 6p/kWh economy 7 offer.

Be warned though without gens firmware KNC titan can be tricky little blighters to keep running, once you have set up the dies and clock rates and voltages to a good setting (this firmware mod will help greatly) then it will mine uninterrupted, and once ROIed can provide nice free heat in the winter.

The KNC titan does NOT work well on multipools in my experience as the way they change blocks and work so often to mine profitable coins.
The KNC titan works well on litecoinpool.org and this is where I am mining atm with a solo failover as my backup pool. Merged mining and multipools are different.

The £3000 you will find on ebay for a titan will fall as  they don't get a sale.

The next gen 14nm scrypt mining chips have been taped out and are looking at about a year probably based on my research before they are fully released to the public these will smoke the titan although its good for quite a few difficulty jumps. If you get a titan, be ready to sell and unload it before these chips come on sale. Don't run all dies at 325MHz at their default voltage, I run most at 325MHz with optimized lower voltages. You want something that 1. Lasts and 2. Can be resold after you've ROIed.

Currently LTC difficulty is low, I wouldn't delay in starting to mine, but unless your power is free or really cheap, no other rig apart from the titan will do you justice, I have spent hours and weeks researching them all. No other miner will profit unless electricity is cheap or low.

KNC titan uses 1400w on average. 320 MH/s (mine gives me 360 after setting most dies to 325 and voltage tweaks for the same wattage which is done in software these tweaks).

Imnosilicon A2. 1000w on average. 110 MH/s. Want the same hashrate as the titan roughly? Have 3 at 3000w. Double the power usage. If your power is free, the A2 will be the  cheaper option slightly. The A2 can still profit, but the margins are much  lower than the titan. I would hazard a guess, but do not take this at face value that the titan will be profitable for 1 more scrypt hardware generation for a while. At 16p per kWh it would take the difficulty to double before mining at a loss. at 10p /kWh at double the current difficulty, it will still mine at an £80 a month profit a my hashrate of 360. So the titan has some life left in it. Don't pay some of the crazy ebay prices for an A2.

BUT then there is the factor of litecoin price. £2.67 currently/ coin, they are very stable in price but with the bitcoin halving, we do not know what will happen to it yet.

The titan is much more profitable than the best bitcoin rig currently on the market for the consumers, which is the Antminer S7. Getting one of those you might as well flush the money down the loo.

I own a titan, hashes around 340 MH/S with current die settings.

I am bothered by the high fluctuation, sometimes it shows 320 MH/S. other times 200 other times 100, othertimes it drops to 0 then restarts, this is shown both miner and poolside, with average miner hash hovering around 270. this does not occur on other non multipools. Rejected hashrate is low, I use the titan settings recommended in the FAQ.

https://www.clevermining.com/users/1JacobtFpSMx15iKNR2xmPuDLqRVYM9NWc

Is my stats. Is this causing the miner to crash due to aggressive coin switching?

I am using gens firmware.

I am running another test on LTCPool to see what happens and compare what I earn over 3 days as I have with clevermining, although I was thinking of switching to solo mining with nicehash. Although the payouts in BTC is convenient.

Currently my best payment was 0.28 BTC/day, so I am going to test this out on litecoinpool and see what happens, although once I have ROIed I am switching this machine to solo (on my own low latency node I am setting up) to contribute to network decentralization.

due to the power costs of running this, (as  the miner stopping and starting with hashrate isn't reducing the power consumption during the blips by much, indicating to me the chips are still doing some kind of work), if it drops to 0 and restarts then this reduces power consumption during the switch as all the cubes are then idling for a while.

EDIT:

The current mining on litecoin pool is showing stable hash of 320 - 340 MH/s with little variance, I am beginning to wonder if switching pools is the best  but will report back and will see if this is also a clevermining issue or if my titan simply doesn't like aggressive coin switching. A shame because watt for watt and overall price, the titan is the most efficient scrypt miner.

I have for sale an AMD HD 7970 video card. Asking 0.5 BTC for the card, or paypal, ETH or LTC can be used.

Will ship worldwide, am parting out a couple of my ETH rigs due to job redundancy.

This is a motherboard, CPU and RAM bundle, this was pulled from one of my ETH rigs that I am stripping down and parting out as I am in need of the money.

Asking only 0.3 BTC for the lot. This has 3x PCI-E 16 type slots so you can build an ETH rig without the need of a riser card (i.e for use in an ATX case) for up to 3 GPUs, this is what I did with it incidentally.

I also have for sale an Antec ATX case for 0.15 BTC. I can leave the board in situ and ship it all together; however be warned the shipping price to outside the UK will be more expensive because of this.

Asking 0.85 BTC for both cards, will ask a little bit extra for shipping outside the UK, also accept payment in ETH or LTC. Escrow is fine if the buyer would prefer with ognasty, or paypal can be used.

I am selling as hit a little financial roadblock being made redundant this week so need the cash :/

swiss sorry, I had had a couple of drinks.... XD

and in reply to the posts above, every single one of those shares and quantity depends on miner luck but also every single share submitted, could or couldn't solve blocks.

yeah that's right, that and low latency to reduce the chances of your block being stale.

My R1 gave me a 190k share seconds after plug-in, now I am 4th place... Let me take #1 crown! When it pulls that awesome block solving share and becomes the mother of all antrouters!

We should so do a commentary...

Andy is still holding 1st place with his high horse power engine of 450MHz!... his 23.627.403 share crushing all others! Minibit  from switzerland taking second place here, will he be able top Andy??

Ant777 is  the poor router in last place that is running, look at him try, you never know what he may have up his sleeve!

Meanwhile, the bestever share from realduke of 13G has not been broken yet!  That showed the power of a single hash from these racers! Who will pull the next best hash?

Look at them all go!

Back to you guys!

That 5M share pulled me to the top: now for the 190G share

I Threw a rental at this for 3.5pH the other week, no luck as of yet, the golden nonce will appear soon!

Plus we have my antrouter

This S3 I am using is a soldier, waiting for his day which is imminent. I had to give t he S7 a pass for now, my flats circuit cant handle anymore now I have a KNC titan and my mini etherium farm.

The people of Townsville....
MojoJoJo is here!

Maybe not : - ) shame it would have been awesome! For now the only thing moving the chain is my two PCs and I think one other guy is minting blocks as well as one of mine orphaned, out of 11,000 plus blocks I only got a single orphan, this is the shit. But a few more people have installed the wallet. A shame I can't send the entire wallet balance at once D: There is a limit to the TX size.

Have given away SHT to quite a few already... It comes out of my toilet just like this: https://www.youtube.com/watch?v=rqdxHwaxrNM !!

This is how SHT works, eating electricity (like the cuttlefish) just to direct the SHIT to someone else, just like when a pump and dump coin dumps its load into some poor unwitting bagholder while the dumper feels the relief

There is so many mined blocks my wallet.dat is now 5MB.

I now have 5 peers, the shit is getting stronger, the fermented gas is slowly expanding!

You know whats worse? Many crapcoins leave 'bitcoin' somewhere in its dialog boxes 'YOU WILL LOOSE ALL OF YOUR BITCOINS!' is one example, my post about this as a bug vanished from the thread, or maybe I was blind to it???

Or has bitcoin somewhere in its logfiles, SHT seems to have done a much. much. better job at  least when it comes to removing those? See? the SHIT coin has already outperformed many of the 'crap' coins.


Going down the blockchain was interesting:

10063 00000000016fdcaf… 63.49 2013-Oct-08 10:22:18 4 · 948650470.35
4 transactions in that one block, with a diff of 63, at one point SHT had a much higher diff XD