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Author Topic: How quickly will Litecoin difficulty rise in the next few months??  (Read 3202 times)
protokol
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April 02, 2013, 06:54:59 PM
 #1

As some of you will know, Litecoin price is going through the roof, it's gone from about $1 to about $4 in 2 days.
I just spent about £1000 on mining equipment with which I'm hoping to get 1500+ kH/s.

At current difficulty this should pay for itself within 1 month. Question is, how high will the difficulty be a few months down the line???

Network performance has gone from 3,000,000 kH/s to about 5,000,000 kH/s in 2 days: http://www.litecoinpool.org/charts

I'm starting to think I may have made a dickhead maneuver...  Embarrassed

Guess I'll make that my sig, all the cool kids have one...
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Carrasco
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April 02, 2013, 06:58:10 PM
 #2

Litecoin is coming Smiley

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protokol
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April 02, 2013, 07:24:36 PM
 #3

Just did some calculations and even at a difficulty of 200, I should still break even in 2 months.

However, does anyone know how the difficulty is calculated? because if it's proportional to network hashrate then it could go much higher than 200 (a jump in hash rate to 6 Th/s looks probable in the next few days, which would mean difficulty of 200 in the same timeframe). Oh God.

Anyone interested in some barely used 7950s?  Cheesy

Guess I'll make that my sig, all the cool kids have one...
t13hydra
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April 05, 2013, 09:26:38 AM
 #4

Just did some calculations and even at a difficulty of 200, I should still break even in 2 months.

However, does anyone know how the difficulty is calculated? because if it's proportional to network hashrate then it could go much higher than 200 (a jump in hash rate to 6 Th/s looks probable in the next few days, which would mean difficulty of 200 in the same timeframe). Oh God.

Anyone interested in some barely used 7950s?  Cheesy


How much do you ask for the 7950s?
gfoot
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April 05, 2013, 12:25:17 PM
 #5

Difficulty is calculated dynamically based on the average block rate over a period of time, to try to maintain an average of 24 blocks per hour for LTC regardless of the network's hashing strength.  It is not linear with network hash rate.

But difficulty is not very interesting if you just want to know your profitability.

The overall effect of the difficulty balancing scheme is that the rate of coins awarded to miners is fairly constant, and your chance of winning each block is exactly the ratio between your own hashrate and the network hashrate, so in practice regardless of actual difficulty settings, your expected income is exactly 50LTC/block * 24blocks/hour * your_hashrate / network_hashrate, in LTC/hour.  That is much easier to project over long periods - all you need to do is model the changes in your own hashrate and the network hashrate, and integrate over time.

For bitcoin, use 25BTC/block and 6blocks/hour.

BTC: 14ciemcbiGQ328NUTUz7j4wZ2tKy998C4a
LTC: LMUo6xEJZtPsNDpZe2QLEzmK1eW4tYZNLF
ImI
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April 05, 2013, 12:36:59 PM
 #6

Just did some calculations and even at a difficulty of 200, I should still break even in 2 months.

However, does anyone know how the difficulty is calculated? because if it's proportional to network hashrate then it could go much higher than 200 (a jump in hash rate to 6 Th/s looks probable in the next few days, which would mean difficulty of 200 in the same timeframe). Oh God.

Anyone interested in some barely used 7950s?  Cheesy


Difficulty 500 incoming.
mco65
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April 05, 2013, 12:55:15 PM
 #7

As some of you will know, Litecoin price is going through the roof, it's gone from about $1 to about $4 in 2 days.
I just spent about £1000 on mining equipment with which I'm hoping to get 1500+ kH/s.

At current difficulty this should pay for itself within 1 month. Question is, how high will the difficulty be a few months down the line???

Network performance has gone from 3,000,000 kH/s to about 5,000,000 kH/s in 2 days: http://www.litecoinpool.org/charts

I'm starting to think I may have made a dickhead maneuver...  Embarrassed

The difficulty should stay in step with LTC value. Both will rise and drop together which should keep profits stable over the long haul unless the value drops completely off the map... I think we would all like to see the value of LTC increase while mining difficulty stays stable but that is just not realistic.


Bitcoin buying - Buy Bitcoin coins - Cash in Bitcoins - Bitcoin Mining
BTC: 17yABX3G6WcHRC9J1YnNip6q76Sg6tjZ6a
LTC: LbUNp7DM5MBLZGFgpxXE8QwFNDwCh3ZcPB
drewz
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April 05, 2013, 01:28:16 PM
 #8

For sure a lot of bitcoin miners will move to litecoin due to market entry of asics, as you know expect the worst. One thing is sure, i will be harder and harder for new commers.
protokol
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April 05, 2013, 06:32:22 PM
 #9

Cool, thanks for that info gfoot/mco, hopefully the value will rise a bit when (if) Gox start exchanging LTC. Iv'e got 1200 Kh/s running now, should have 1800 by the end of today. As long as I make my money back i'll be more than happy (have to forget about the new car for the moment though haha...)


How much do you ask for the 7950s?


Hah I think I'll keep them for the moment, ask me again in a few months though!

cheers guys wish me luck Tongue

Guess I'll make that my sig, all the cool kids have one...
nawazish1
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April 05, 2013, 06:50:16 PM
 #10

Hello guys I m a newbie and it looks ackward if i ask you this but i need it. Could some one here who is early adopter of BTC pledge me with 2BTC so that i can start mining LTC. My current PC is not capable of doing that.
so i need help here. And please don't say that no bodies gonna give me cause i have seen people in older posts giving away bitcoins.

PXC: PmfFgdwwcXPa1QUmtVJevdPfHhmhztHHCv
BTC: 1P22tVABsd85L7kkpTmohCv5vK2BypFz3H
Phoenixcoin (PXC), a decentralised open source digital currency.
ironfalcon
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April 05, 2013, 07:08:01 PM
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Hello guys I m a newbie and it looks ackward if i ask you this but i need it. Could some one here who is early adopter of BTC pledge me with 2BTC so that i can start mining LTC. My current PC is not capable of doing that.
so i need help here. And please don't say that no bodies gonna give me cause i have seen people in older posts giving away bitcoins.

I think BTC/USD was a little bit lower then Smiley
https://bitcointalk.org/index.php?topic=137.0
nawazish1
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April 05, 2013, 07:17:13 PM
 #12

Hello guys I m a newbie and it looks ackward if i ask you this but i need it. Could some one here who is early adopter of BTC pledge me with 2BTC so that i can start mining LTC. My current PC is not capable of doing that.
so i need help here. And please don't say that no bodies gonna give me cause i have seen people in older posts giving away bitcoins.

I think BTC/USD was a little bit lower then Smiley
https://bitcointalk.org/index.php?topic=137.0

you are absolutely right but I need just 2BTC i know that is very difficult for anyone even including myself but if someone is kind enough to help me i can make sure that i will return him these coins back after 2 months when i will start earning LTC from them.

PXC: PmfFgdwwcXPa1QUmtVJevdPfHhmhztHHCv
BTC: 1P22tVABsd85L7kkpTmohCv5vK2BypFz3H
Phoenixcoin (PXC), a decentralised open source digital currency.
Last_Caress
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May 07, 2013, 09:21:58 PM
 #13




you are absolutely right but I need just 2BTC i know that is very difficult for anyone even including myself but if someone is kind enough to help me i can make sure that i will return him these coins back after 2 months when i will start earning LTC from them.


seriously, who's going to give 200 dollars to a stranger? A better investment (with much less risk) would be to buy their own equipment, you have to at least offer them interest.
iamthekey
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May 07, 2013, 09:56:11 PM
 #14

Lol, maybe try work?
SamS
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May 07, 2013, 10:33:36 PM
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Is there a good thread on the economics of mining that someone could point a newbie too? Yes, I can search for one but not knowing the difference between good information and bad at this point, asking seems the way to start.

Thanks,

- Sam

Bitcoin: 16i8sQWjZo3QPhhSfWupJff5PtwTxxpRJJ
Ripple:  rL7mRCDYBXsVSM2obdvEjwft5fPUmxv3ra
melonedged737
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May 07, 2013, 11:05:25 PM
 #16

 Another big jump is set to happen tomorrow.
4bit
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May 07, 2013, 11:15:11 PM
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Litecoin is coming Smiley
Yeah, that'll solve all our problems - but consider everyone will be switching GPU mining to LTC so it's the same arms race all over again.
chaoticmark5266
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May 07, 2013, 11:16:11 PM
 #18

 What is the current litecoin difficulty?
anyroll
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May 07, 2013, 11:22:33 PM
 #19

It seems no one knows the mining difficulty of Litecoin currently..

Been around Bitcoin since 2010! Enjoy giving out Bitcoins, and participating in the Bitcoin world!
t13hydra
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May 08, 2013, 11:19:45 AM
 #20

It seems no one knows the mining difficulty of Litecoin currently..

Or maybe noone is curious Smiley))
The diff is 469.79810143.
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