Bitcoin Forum
November 19, 2017, 04:05:07 PM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: More profitable alternative cryptocurrencies  (Read 2768 times)
Walter Rothbard
Sr. Member
****
Offline Offline

Activity: 476


Bytecoin: 8VofSsbQvTd8YwAcxiCcxrqZ9MnGPjaAQm


View Profile WWW
January 14, 2013, 09:48:35 PM
 #1

I was surprised to see a comment on one thread here that it was more profitable to mine litecoin that bitcoin.  I didn't realize any of the alternative currencies had enough uptake to make them that profitable yet.  What currencies are more profitable to mine that bitcoin right now, and what is making them more profitable?

1511107507
Hero Member
*
Offline Offline

Posts: 1511107507

View Profile Personal Message (Offline)

Ignore
1511107507
Reply with quote  #2

1511107507
Report to moderator
1511107507
Hero Member
*
Offline Offline

Posts: 1511107507

View Profile Personal Message (Offline)

Ignore
1511107507
Reply with quote  #2

1511107507
Report to moderator
1511107507
Hero Member
*
Offline Offline

Posts: 1511107507

View Profile Personal Message (Offline)

Ignore
1511107507
Reply with quote  #2

1511107507
Report to moderator
Join ICO Now A blockchain platform for effective freelancing
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
crazyates
Legendary
*
Offline Offline

Activity: 952



View Profile
January 15, 2013, 03:33:44 AM
 #2

LTC "can" be more profitable than BTC. The LTC difficulty keeps swinging up and down as people jump on the bandwagon when the diff is low, and then jump off when the diff adjusts and it's not profitable anymore.

If the price of alt-coins like LTC would go up, then obv more people would stick with it, even thru a higher difficulty. The problem is that the LTC price isn't going up. It's staying the same. I read that as follows: No one wants LTC. If price drives difficulty (as it has been proven), and the price of LTC is remaining constant, then the LTC market can't handle hundreds of users switching their GPUs. People have been thinking for months that when ASICs hit, they'll switch to LTC, but they don't realize just how unprofitable that will be when everyone switches, and the price remains the same. Pumping the difficulty 10x won't increase the price any.

Sorry for my ramblings. Does that make any sense to you?

Tips? 1crazy8pMqgwJ7tX7ZPZmyPwFbc6xZKM9
Previous Trade History - Sale Thread
iCEBREAKER
Legendary
*
Offline Offline

Activity: 1834


[LOL2X]


View Profile WWW
January 15, 2013, 03:49:21 AM
 #3

Here go, stick your numbers in and have fun!

http://allchains.info/calc.html

^This doesn't include TerraCoin or PPCoin, so it really should be called somechains.info.


██████████
█████████████████
██████████████████████
█████████████████████████
████████████████████████████
████
████████████████████████
█████
███████████████████████████
█████
███████████████████████████
██████
████████████████████████████
██████
████████████████████████████
██████
████████████████████████████
██████
███████████████████████████
██████
██████████████████████████
█████
███████████████████████████
█████████████
██████████████
████████████████████████████
█████████████████████████
██████████████████████
█████████████████
██████████

Monero
"The difference between bad and well-developed digital cash will determine
whether we have a dictatorship or a real democracy." 
David Chaum 1996
"Fungibility provides privacy as a side effect."  Adam Back 2014
Buy and sell XMR near you
P2P Exchange Network
Buy XMR with fiat
Walter Rothbard
Sr. Member
****
Offline Offline

Activity: 476


Bytecoin: 8VofSsbQvTd8YwAcxiCcxrqZ9MnGPjaAQm


View Profile WWW
January 15, 2013, 04:28:52 PM
 #4

Sorry for my ramblings. Does that make any sense to you?

Yes, it does!  Thank you for the explanation.

MJGrae
Full Member
***
Offline Offline

Activity: 134

Sold.


View Profile
January 18, 2013, 07:21:11 PM
 #5

LTC "can" be more profitable than BTC. The LTC difficulty keeps swinging up and down as people jump on the bandwagon when the diff is low, and then jump off when the diff adjusts and it's not profitable anymore.

If the price of alt-coins like LTC would go up, then obv more people would stick with it, even thru a higher difficulty. The problem is that the LTC price isn't going up. It's staying the same. I read that as follows: No one wants LTC. If price drives difficulty (as it has been proven), and the price of LTC is remaining constant, then the LTC market can't handle hundreds of users switching their GPUs. People have been thinking for months that when ASICs hit, they'll switch to LTC, but they don't realize just how unprofitable that will be when everyone switches, and the price remains the same. Pumping the difficulty 10x won't increase the price any.

Sorry for my ramblings. Does that make any sense to you?

Totally makes sense. Would you happen to have any links on hand to threads showing the statistical significance/correlation of price:difficulty? Not that I'm doubting you, I'd just like some of the better threads from someone who would know.
crazyates
Legendary
*
Offline Offline

Activity: 952



View Profile
January 18, 2013, 08:00:30 PM
 #6

LTC "can" be more profitable than BTC. The LTC difficulty keeps swinging up and down as people jump on the bandwagon when the diff is low, and then jump off when the diff adjusts and it's not profitable anymore.

If the price of alt-coins like LTC would go up, then obv more people would stick with it, even thru a higher difficulty. The problem is that the LTC price isn't going up. It's staying the same. I read that as follows: No one wants LTC. If price drives difficulty (as it has been proven), and the price of LTC is remaining constant, then the LTC market can't handle hundreds of users switching their GPUs. People have been thinking for months that when ASICs hit, they'll switch to LTC, but they don't realize just how unprofitable that will be when everyone switches, and the price remains the same. Pumping the difficulty 10x won't increase the price any.

Sorry for my ramblings. Does that make any sense to you?
Totally makes sense. Would you happen to have any links on hand to threads showing the statistical significance/correlation of price:difficulty? Not that I'm doubting you, I'd just like some of the better threads from someone who would know.
Sure.

Excellent writeup of why Price drives Difficulty. Originally written for BTC, the applies to LTC.
3 Month chart of LTC price, in USD & BTC. The BTC reward half happened right at the slight bump you see in the middle, but it quickly corrected itself.
Litecoinpool has a Litecoin Difficulty Chart, but only goes back 2 weeks. You can still see the up-down-up-down in the difficulty. It's been like this since the reward half almost 2 months ago, but has leveled out some.

Tips? 1crazy8pMqgwJ7tX7ZPZmyPwFbc6xZKM9
Previous Trade History - Sale Thread
MJGrae
Full Member
***
Offline Offline

Activity: 134

Sold.


View Profile
January 19, 2013, 10:06:46 PM
 #7


Sure.

Excellent writeup of why Price drives Difficulty. Originally written for BTC, the applies to LTC.
3 Month chart of LTC price, in USD & BTC. The BTC reward half happened right at the slight bump you see in the middle, but it quickly corrected itself.
Litecoinpool has a Litecoin Difficulty Chart, but only goes back 2 weeks. You can still see the up-down-up-down in the difficulty. It's been like this since the reward half almost 2 months ago, but has leveled out some.


These are immensely helpful resources. Thanks!
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!