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Author Topic: Has anyone else noticed that the Litecoin network hashrate has dropped 50%  (Read 1456 times)
mr_random
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May 05, 2013, 02:01:54 PM
 #1

Right now it's listed as 7 on Vircurex. It was 15 a couple of weeks back. Obviously Feathercoin mining has taken a chunk out of it, but still I am surprised it's fallen like that.

I remember checking just 2-3 days ago and it was 12 or something so it's taken a big hit
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RetardedMonkey
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May 05, 2013, 02:03:28 PM
 #2

Did you also notice that in the last difficulty change, it dropped to 390.
TheSwede75
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May 05, 2013, 02:06:01 PM
 #3

Right now it's listed as 7 on Vircurex. It was 15 a couple of weeks back. Obviously Feathercoin mining has taken a chunk out of it, but still I am surprised it's fallen like that.

I remember checking just 2-3 days ago and it was 12 or something so it's taken a big hit

With Feathercoin and CNC being several 100% more profitable it's just the GPU miners redirecting their hash rate. Nothing strange about that at all in my opinion.
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May 05, 2013, 02:06:15 PM
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Now the next craze is CNC since FTC is dying. Miners go where the most profit is.
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May 05, 2013, 02:09:05 PM
 #5

Right now it's listed as 7 on Vircurex. It was 15 a couple of weeks back. Obviously Feathercoin mining has taken a chunk out of it, but still I am surprised it's fallen like that.

I remember checking just 2-3 days ago and it was 12 or something so it's taken a big hit
litecoin  diff increased significantly when its price still going around $3-$4. Let not forget them time when it went down to $1.5 yet diff still increased.

com911
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May 05, 2013, 02:09:20 PM
 #6

Litecoin is not trendy nowadays  Roll Eyes

Mhash pipe
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May 05, 2013, 02:18:55 PM
 #7

I think this correction is needed for ltc... Profit margins will increase again and it will regain its place at the top of the alt coins.
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May 05, 2013, 02:36:36 PM
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I think this correction is needed for ltc... Profit margins will increase again and it will regain its place at the top of the alt coins.

Exactly, we're just mining other coins and dumping them as it's more profitable at the moment.
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May 05, 2013, 02:38:53 PM
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In the long run I wouldn't be afraid of LTC losing its position. It is by far the most widely supported and well known alt currency. Temporarily the other new alts have taken some hashrate due to higher profitability, but if I had to choose if I want to keep my crypto money in either FTC or LTC for a longer period I would choose the latter without hesitation.
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May 05, 2013, 02:43:28 PM
 #10

In the long run I wouldn't be afraid of LTC losing its position. It is by far the most widely supported and well known alt currency. Temporarily the other new alts have taken some hashrate due to higher profitability, but if I had to choose if I want to keep my crypto money in either FTC or LTC for a longer period I would choose the latter without hesitation.

And by us dumping the new coins and flooding markets, we are decreasing their value thus making ltc more attractive as a longterm crypto.
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May 05, 2013, 02:59:40 PM
 #11

Alt coins are cannibalizing themselves.

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BBQKorv
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May 05, 2013, 03:00:10 PM
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BitBars is having some serious hashrate at it, since it's still possible to get a few of them by just mining. All these new scrypt coins do hurt litecoin, atleast in the beginning of their adaption. Will be very interesting to see how this looks a week from now, and also a month from now.
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May 05, 2013, 03:17:27 PM
 #13

Right now it's listed as 7 on Vircurex. It was 15 a couple of weeks back. Obviously Feathercoin mining has taken a chunk out of it, but still I am surprised it's fallen like that.

I remember checking just 2-3 days ago and it was 12 or something so it's taken a big hit

Hashrate is down a bit but nowhere near 50%. Allchains.info says litecoin hashrate is about 11 Gh/s right now, which still seems pretty high to me.
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May 05, 2013, 03:37:56 PM
 #14

Alt coins are cannibalizing themselves.

could have said it better.

If this continues [a new alt coin everyday] there will not be enough miners to go around and a 51% attack will be a piece of cake on anyone of them!

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May 05, 2013, 03:40:06 PM
 #15

Alt coins are cannibalizing themselves.

Poor ASIC owner , stick to that one flawed currency, you better cash out soonish ?

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May 05, 2013, 03:50:29 PM
 #16

Alt coins are cannibalizing themselves.

Poor ASIC owner , stick to that one flawed currency, you better cash out soonish ?

 Tongue

You have an ASIC? Why would you cash out? You just got here.

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May 05, 2013, 04:05:10 PM
 #17

Makes me so happy Smiley  I'm mining way more coins now and I hope more alts keep popping up and dragging away all the dolts.
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May 05, 2013, 04:06:58 PM
 #18

Makes me so happy Smiley  I'm mining way more coins now and I hope more alts keep popping up and dragging away all the dolts.

It's unclear who the 'dolt's are at this point. If LTC were already on gox I would say you were right. However I am worried that their postponement will give time for other developments to come out and further weaken the situation.

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