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Author Topic: LiteCoin Difficulty going down? Will the price drop?  (Read 7151 times)
nightwolf92
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March 22, 2013, 03:17:09 AM
 #1

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?
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March 22, 2013, 03:18:42 AM
 #2

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

Move to 'other' - 'Alternate cryptocurrencies'
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March 22, 2013, 03:19:16 AM
 #3

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

It is pitch black. You are likely to be eaten by a grue.

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March 22, 2013, 03:20:21 AM
 #4

Perhaps BTC hysteria is driving LTC owners to BTC.

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

nightwolf92
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March 22, 2013, 03:22:47 AM
 #5

thank you for answering Smiley
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March 22, 2013, 05:16:34 AM
 #6

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.   



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March 22, 2013, 05:48:07 AM
 #7

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).

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March 22, 2013, 05:56:54 AM
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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.

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March 22, 2013, 07:12:18 AM
 #9

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.   





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
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March 22, 2013, 07:17:05 AM
 #10

This belongs in the alternate cryptocurrency thread

It seemed like a good idea at the time.
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March 22, 2013, 05:12:38 PM
 #11

So it seems we're still at 96.15

How are people working out the difficulty drop and is it still likely?
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March 22, 2013, 05:14:18 PM
 #12

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.

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March 22, 2013, 05:16:13 PM
 #13

So it seems we're still at 96.15

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

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. 
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March 22, 2013, 06:12:46 PM
 #14

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.
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March 22, 2013, 06:14:41 PM
 #15

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.



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

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Tesla71
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March 22, 2013, 06:15:23 PM
 #16

33 Blocks to go: http://allchains.info/
Acesbomb
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April 03, 2013, 08:32:06 PM
 #17

I'm confused, didn't Litecoin difficulty go up not down?
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April 03, 2013, 08:35:55 PM
 #18

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.  Cool

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April 03, 2013, 08:58:03 PM
 #19

When is the block reward halving?

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April 03, 2013, 09:19:46 PM
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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.  Cool

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.

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