Litecoin Difficulty jump

[BenRickert]

 So it has begun.   July 8th, LC hashing difficulty = 250k, July 9th 275k. This is a new high by just 3k, but probably an indication that some of the new ASIC Scrypt miners are finding homes in Mining farms across the land. I suspect by October the LC profitability Calcs will look dramatically different.

     For you salty old mining vets, how do you think the evacuation of GPU miners in the face of the ASIC assault, will offset the hashing difficulty jumps? If any?

[1714761708]

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[1714761708]

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[1714761708]

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[adaseb]

So it has begun.   July 8th, LC hashing difficulty = 250k, July 9th 275k. This is a new high by just 3k, but probably an indication that some of the new ASIC Scrypt miners are finding homes in Mining farms across the land. I suspect by October the LC profitability Calcs will look dramatically different.

     For you salty old mining vets, how do you think the evacuation of GPU miners in the face of the ASIC assault, will offset the hashing difficulty jumps? If any?

Don't complain. At least you are not mining ETH. That difficulty doubles every month.

[Metroid]

Yeah the ltc miners are very lucky, cause once it settles it never jumps again. Now for eth is different, it jumps every day and forever as long as stays pow hehe

[BenRickert]

So it has begun.   July 8th, LC hashing difficulty = 250k, July 9th 275k. This is a new high by just 3k, but probably an indication that some of the new ASIC Scrypt miners are finding homes in Mining farms across the land. I suspect by October the LC profitability Calcs will look dramatically different.

     For you salty old mining vets, how do you think the evacuation of GPU miners in the face of the ASIC assault, will offset the hashing difficulty jumps? If any?

Don't complain. At least you are not mining ETH. That difficulty doubles every month.

There was no complaint. Just an observation and question. It is what it is of course. I was just curious as to how the more experienced miners viewed the effect of ASIC's on the viability of GPU's going forward. It would appear that there is an almost certain obsolescence now built into GPU systems. Does the departure of their Hashing power even begin to offset the new hashing power of the ASIC's power and efficiency?

[nu1mlock]

Scrypt mining with a GPU is long gone. The new ASICs will only make old ASICs obsolete, GPUs have gone elsewhere long ago.

[BenRickert]

Yeah the ltc miners are very lucky, cause once it settles it never jumps again. Now for eth is different, it jumps every day and forever as long as stays pow hehe

Yes ETH definitely looks like a rough arena. POS seems inevitable so us rookies are probably best served to not even get into that "pool". 

[leowonderful]

This is just the beginning. Wait till the next batch of L3+s and more ship out and difficulty will probably be over 500k and 1m in a short time. Huge risk to buy those miners nowadays, it's either buy them shipped now (no shit Bitmain preorders) and possibly make some profit or hope difficulty won't grow exponentially and won't make your miner nearly obsolete when it arrives, which it will.

[hawkfish007]

So it has begun.   July 8th, LC hashing difficulty = 250k, July 9th 275k. This is a new high by just 3k, but probably an indication that some of the new ASIC Scrypt miners are finding homes in Mining farms across the land. I suspect by October the LC profitability Calcs will look dramatically different.

     For you salty old mining vets, how do you think the evacuation of GPU miners in the face of the ASIC assault, will offset the hashing difficulty jumps? If any?

Don't really care, L3+s bought in May already paid themselves off 2x. There are other profitable scrypt coins than LTC at the moment

[Marvell1]

This is just the beginning. Wait till the next batch of L3+s and more ship out and difficulty will probably be over 500k and 1m in a short time. Huge risk to buy those miners nowadays, it's either buy them shipped now (no shit Bitmain preorders) and possibly make some profit or hope difficulty won't grow exponentially and won't make your miner nearly obsolete when it arrives, which it will.

you dont think a sept preorder will still be profitable ? I was gona buy 3-4 to see

[BenRickert]

There is a cat on Amazon that has sold several of them at $5,700.00-$6,000. Even at double the current difficulty you can justify a $2,000.00 purchase price. $5,900 a unit? I think not. I suspect that after these folks take a beating on these irrational purchases they will be available at decent levels. Eventually the froth will bleed off the market and irrational exuberance will resume it's rightful place in the US stock market. 

[Zadicar]

So it has begun.   July 8th, LC hashing difficulty = 250k, July 9th 275k. This is a new high by just 3k, but probably an indication that some of the new ASIC Scrypt miners are finding homes in Mining farms across the land. I suspect by October the LC profitability Calcs will look dramatically different.

     For you salty old mining vets, how do you think the evacuation of GPU miners in the face of the ASIC assault, will offset the hashing difficulty jumps? If any?

Don't complain. At least you are not mining ETH. That difficulty doubles every month.

He would definitely feel when he tends to mine ETH. He would really make complains about Jumping difficulty almost everyday. Just as expected there are lots of people who do mine ETH thats why difficulty does increase more overtime and this time it will surely happen to LTC when people would decide to mine it too. Just simple as that.

[Metroid]

He would definitely feel when he tends to mine ETH. He would really make complains about Jumping difficulty almost everyday. Just as expected there are lots of people who do mine ETH thats why difficulty does increase more overtime and this time it will surely happen to LTC when people would decide to mine it too. Just simple as that.

The simple terms is that anybody can mine with a gpu, few can mine with asics cause asic market is a scam. Now is up to investors decide if they want to buy asic scamcoins or gpu trustedcoins.

[hyet24]

I would just hope value increase.  I don't mind people jumping in to mine.  We need more users than investors and miners.

[BenRickert]

I would just hope value increase.  I don't mind people jumping in to mine.  We need more users than investors and miners.

     LTC="scamcoin"? Hmmm. Interesting. First I've heard of it.

[Metroid]

I would just hope value increase.  I don't mind people jumping in to mine.  We need more users than investors and miners.

    LTC="scamcoin"? Hmmm. Interesting. First I've heard of it.

Not only him, I have been saying that since it was launched in 2011, ltc is just a copy cat of btc with few added lines of code. Devs did that for marketing purposes anyway. Now that we have many coins that are 100x faster than ltc, the good thing is, ltc scammers don't keep saying, ltc faster than btc cause if they say that many will say the other many coins 100x faster than ltc. So LTC was, now is just another trollcoin like many around. Well yes, ltc was a scamcoin, now is just a trollcoin.

[BenRickert]

I would just hope value increase.  I don't mind people jumping in to mine.  We need more users than investors and miners.

    LTC="scamcoin"? Hmmm. Interesting. First I've heard of it.

Not only him, I have been saying that since it was launched in 2011, ltc is just a copy cat of btc with few added lines of code. Devs did that for marketing purposes anyway. Now that we have many coins that are 100x faster than ltc, the good thing is, ltc scammers don't keep saying, ltc faster than btc cause if they say that many will say the other many coins 100x faster than ltc. So LTC was, now is just another trollcoin like many around. Well yes, ltc was a scamcoin, now is just a trollcoin.

.....and yet I am completing purchases and transactions with LTC with ease. I'm not sure where this "coin fandom" comes from or why people think there is only going to be one Crypto currency. I assure you, there will be many. All with different Niches to fill. Until they are ferretted out and identified, we all can benefit by supporting their eco systems through mining and rewards. It's not likely an accident that LTC is the highest mining profitability of all coins currently. Apparently there are a large number of participants that see a unique utility in it. After all, it is the one that has successfully engaged Segwit. BTC, not so much. I have no doubt it will, but truth is, LTC already did. Without any issues.

[QuintLeo]

 Now that we have many coins that are 100x faster than ltc

 Not once Segwit/LN gets adopted by LTC.

 If you want a trollcoin, look at DOGE.


 LTC has NOT been the consistant most profitable Scrypt coin for the last 2 months - DGB was quite a bit higher for a while, GAME has also been higher at times, JUST among Scrypt-based coins.

 Long term, I do see a major shakeout happening in Crypto - there really isn't room for dozens of coins to be worth much, though I can see a possibility of perhaps a half dozen surviving long-term.

[Metroid]

.....and yet I am completing purchases and transactions with LTC with ease. I'm not sure where this "coin fandom" comes from or why people think there is only going to be one Crypto currency. I assure you, there will be many. All with different Niches to fill. Until they are ferretted out and identified, we all can benefit by supporting their eco systems through mining and rewards. It's not likely an accident that LTC is the highest mining profitability of all coins currently. Apparently there are a large number of participants that see a unique utility in it. After all, it is the one that has successfully engaged Segwit. BTC, not so much. I have no doubt it will, but truth is, LTC already did. Without any issues.

Well let's say, litecoin is still trading, getting pumped and dumped like any other coin, so is pretty much alive. I would never invest on LTC but that is me, and as long bitcoin is around, ltc will stay very much alive and with believers. The problem will be if bitcoin dies if it will ever die then ltc and all old coins will die too. I still think as technology advances, the market need new coins to cope with them, sha256 will likely be cracked if it wasn't yet, so is a matter of time. if bitcoin is to survive, it will have to change its algorithm, the question is, is even possible for bitcoin to change it? See that is the problem.

[maxmad_x]

Believe me, I would mine litecoin over bitcoin any day.. due to bitcoin fiasco litecoin is going to be the faster and better currency. Bitcoin may remain as the store of value but the transactiosn will always be faster on the litecoin

[Tmdz]

.....and yet I am completing purchases and transactions with LTC with ease. I'm not sure where this "coin fandom" comes from or why people think there is only going to be one Crypto currency. I assure you, there will be many. All with different Niches to fill. Until they are ferretted out and identified, we all can benefit by supporting their eco systems through mining and rewards. It's not likely an accident that LTC is the highest mining profitability of all coins currently. Apparently there are a large number of participants that see a unique utility in it. After all, it is the one that has successfully engaged Segwit. BTC, not so much. I have no doubt it will, but truth is, LTC already did. Without any issues.

Well let's say, litecoin is still trading, getting pumped and dumped like any other coin, so is pretty much alive. I would never invest on LTC but that is me, and as long bitcoin is around, ltc will stay very much alive and with believers. The problem will be if bitcoin dies if it will ever die then ltc and all old coins will die too. I still think as technology advances, the market need new coins to cope with them, sha256 will likely be cracked if it wasn't yet, so is a matter of time. if bitcoin is to survive, it will have to change its algorithm, the question is, is even possible for bitcoin to change it? See that is the problem.

Too much money invested by the asic company and mining farms that control bitcoin to allow an algo change.

Someone briefly mentioned an algo change a while back in core devs I believe and it wasn't even a serious comment mind you.  Some big money guy that runs asic mining company or something started foaming at the mouth like a rabid dog that needed to be put down.  He started screaming at everyone, tweeting like a pissed off Trump and threatening people with lawsuits.