so what was first chicken or egg?
First was buying a chicken hoping it gives you eggs. After a long time with not many eggs you get fed up and kill and eat the chicken. tada! |
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Agreed! I've got some cool TRC projects coming up. A major upgrade to www.terrawallet.com. Low difficulty means more coins! And unlike FRC, your TRC you mine now will still all be there two years from now. :-) OK, just jumped on the FRC bandwagon, and trying to figure it out. I'm struggling to understand this whole concept. Say I have 10,000 FRC today. They will eventually disappear? At what rate? I think i heard 4.8% a year or so. The idea is so that people dont just hoard it and it helps motiviate people to spend the currency and keep it moving. A moving currency is key for a healthy economy. http://en.wikipedia.org/wiki/Velocity_of_money |
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I was interested to see what the hash rate or difficulty would do for both PPC and LTC once the block reward halved... anyone got any data or info for which coin saw a larger increase in hashrate applied to the network?
and I wonder if there will be the same trend when ASIC hit
LTC and PPC both became over 2 times more profitable to mine than BTC. Some hashing power moved surprisingly fast over to LTC and PPC. LTC probably got the better part of the hashing power, if I recall correctly, while hitting new diff records. The real shift is coming when the imaginary ASIC's turn in to real and working equipment. Probably in March 2013 or so. How often does PPC difficulty adjust? It seems like LTC keeps shooting up and back down.. while at least PPC has seemed semi stable lately.. |
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I think we are holding out for ASIC and a free market. 1000 Terra coins takes a lot of time to mine with a reasonable rig. Reward is only 20 Coins per block. It's not like PPC where people could have MILLIONS of them and not mind selling for $1. Only people who have serious rigs and thus are foregoing a real profit mining Bitcoin have large numbers of Terracoins. Everyone else has only a few thousand. I make only about 200TRC a day- and in my mind it's definitely worth more then $1 a week. :-)
meh.. not necessarily.. difficulty is so low (930 currently) that 1 ghash = 435 TRC/day. That said.. the holding out and see what kind of crap storm ASIC's create in the market is another story.. that and wondering if PPC/TRC becomes worth at least a little something (like > $0.01 each).. who wants to repeat the "5000 btc pizza" |
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using CURRENT DAY exchange rates and difficulty LTC and BTC are about the same profitablity to mine.
Honestly BTC is a LOT easier to mine.. it takes less practice to get going and is overall a little more stable.
That said.. you will get a LOT more LTC than BTC in terms of each coin.. Granted at the end of teh day they will be worth the same.. it just depends if you'd rather see 0.2 BTC or 30.0 LTC going into your wallet every day as an example.
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bump and updated with stratum mining information. first stratum pool is ltcmine.ru
no good ckovalis says it is disabled when using scrypt, if using cgminer that is don't know about others. there is a fork of reaper that now supports it. |
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litecoinpool.org PPS rate 0.00002833 LTC coinotron.com PPS rate 0.00046042 LTC  coinotron pps rate = diff 16 shares litecoinpool pps rate = diff 1 shares liteocinpool does variable difficulty. When you first fire up a GPU pointed to their pool it'll do a couple hundred shares in seconds than VERY quickly slow down to about 5/minute. |
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We are about 8 hours (burnside estimate) to 13 hours (litecoinpool estimate) away from a difficulty readjustment.
Will we see another large jump in the network hash rate yet again?
How long do you think this trend will continue?
Of course network hash rate is going to jump way up when LTC mining gives someone $8.50 a day vs $5 a day for BTC..... I'd say this thread will continue until asics come out... at which time mining is REALLY going to go wonky in a way in which makes the halving look like a joke. THat is when the "find an alt coin or shut down" will be the ONLY choice verses continue mining BTC at just a little lower income rate. |
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wow just like that the luck switches to the other side 5 blocks in last 2 shifts.
wonder how much BTC he made in those 5 blocks after losing 200... Lets not get jealous :-) He is losing it back right now. And i am unsure if pplns is right for me. With very high diff, variance can be so bad, that there is a great chance of luck being bad for a long time before it evens out. Like bad luck until gpus are no longer useful. I think. Pps might be the right play with the gpu cycle of mining ending. oh i wasnt jealous, but actually curious (and only curious, as i know that is propriatary information for a pool). I know that supposedly mathmatically they will come ahead approximately the fee % in the long run. but it is interesting to see such huge swings in the mean time. |
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Uh LTC difficulty recent went up from 26 to 42, not down...unfortunately. It was fun while it lasted after dropping from 48 to 26 though.  LTC is on its way back down.... I posted the then current estimates from allchains.info LTC is on a roller coaster ride.. when diff drops people jump on it like a free meal.. when diff shoots back up they run away like the plague.. so far it seems that the down cycle lasts 2 days and the up cycle (higher diff) lasts 4 1/2 days |
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oh giggity.. all 3 difficulties are dropping off quite a bit.
btc 211718 0M 2016 213696 1978 1.88% 3370181.75000 3022227.88201 -10.32% 15d 7hr 37m 18s
nmc 86861 402M 2016 88704 1843 8.58% 963488.77507 796715.75148 -17.31% 15d 11hr 27m 52s
ltc 260605 680M 2016 262080 1475 26.84% 42.27702 26.72447 -36.79% 4d 1hr 13m 28s
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I've cut off my GPUs as well. They were only marginally profitable before, but now it's nothing but a loss thanks to energy costs. Maybe if the difficulty gets low enough (or BTC price gets high enough) I might consider it again you can always donate those cycles to folding at home or world community grid.. just think of the energy cost as a donation to charity  |
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As soon as diff changed, stats and BTC balance stopped updating. All rigs submitting shares. Will wait 1hr before bailing out.
they've had this issue before and at the end all coins were paid as submitted. and i'm having the same issue as well.. whoopie lol |
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eventually people wont just mine for shits and giggles they need the price to increase for that mining to be or become profitable
Hashrate and price, who follows who is a SPECULATION problem FTFY If I had reasonable assurance that something BIG was going to happen and it would be worth 0.015 BTC in 3 months I would mine the ever living crap out of LTC regardless of current difficulty. If i felt price was going to be stable, i would only mine when difficulty is on the down cycle. |
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1) LiteCoin doesn't bring anything new, it's just a recompile of BitCoin with one changed variable.
Wrong. I think what you were referring was the block generation rate and total. The most significant difference is the en cryption (as in cryptocurrency) algorithm. It's not a variable, it's part of the foundation on which a cryptocurrency is built. SHA256 used in Bitcoin, Terracoin and few other cryptocoins is property of USA. If only people know what that really means ... THIS. US government can claim intellectual property rights to the bitcoin system?!?!?!??! In cryptography, SHA-2 is a set of cryptographic hash functions (SHA-224, SHA-256, SHA-384, SHA-512) designed by the National Security Agency (NSA) and published in 2001 by the NIST as a U.S. Federal Information Processing Standard. SHA stands for Secure Hash Algorithm. Also, as somebody else has mentioned, the US gov't has control over the "export" of this, for example it would be illegal to put it in the hands of iranians or what not. |
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wow just like that the luck switches to the other side 5 blocks in last 2 shifts.
wonder how much BTC he made in those 5 blocks after losing 200... |
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if you ignore the fact that the entire graph range is only +/- 2% of course it looks like a big drop... if the range was instead +/- 20% it'd look like the minor change that it is.
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No, I'm not shutting mine off. I'm heating my apartment with my rigs right now. As of right now, they are providing free heating along with some coins. Once ASIC hits, I'm switching over to LTC. I have some BFL products on the way whenever they ship, so I'll be mining BTC and LTC in the near future, while getting some free heating. Woohoo!
Last I heard (2 days ago), LTC was less profitable than BTC. Remember, everyone and their grandma jumped over to LTC when the Halving occurred. So it makes sense. this changes a couple of times a week.. its been substantially more profitable ($8/day for me vs $5/day with 2.6 ghash worth of gpu's. tomorrow morning it is going to go back up again and be worth about the same. |
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I bet 90+% most likely this is just a couple of people doing it for the lulz... now if it was 500 gh/s.... it'd be a little more believable. but 45 ghash.. it'd EASILY be just a couple of folks with mining farms.
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