nzdude (OP)
Member
 Offline
Activity: 86
Merit: 10
STARCOIN the BEST
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June 21, 2013, 04:35:20 AM |
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Haters, did you know crapcoins, could actually be helping you mine more litecoins? Let me know if my theory is correct  heres how: Because there is a restriction on the amount of coins produced, you need as few people as possible to mine the same coin as you. if half the people are mining these "crapcoins" and the other half are mining LITECOINS it means its easier for you to make money mining litecoins. if these half wernt mining the "crapcoins" then they will be mining litecoins and your earnings are halved, as the difficulty will be twice what it is now. |
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In order to get the maximum amount of activity points possible, you just need to post once per day on average. Skipping days is OK as long as you maintain the average.
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krasnyoktyabr
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June 21, 2013, 04:37:34 AM |
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Haters, did you know crapcoins, could actually be helping you mine more litecoins? Let me know if my theory is correct heres how: Because there is a restriction on the amount of coins produced, you need as few people as possible to mine the same coin as you. if half the people are mining these "crapcoins" and the other half are mining LITECOINS it means its easier for you to make money mining litecoins. if these half wernt mining the "crapcoins" then they will be mining litecoins and your earnings are halved, as the difficulty will be twice what it is now. The other side of the argument is that bitcoins are wasted speculating on crapcoins and not driving up the price of LTC. Also, I think all altcoins are pushing around 3-4 GHs, which would be a relatively small increase in litecoin difficulty. |
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worldinacoin
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June 21, 2013, 04:44:51 AM |
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I think it is the other way round, they are taking away the hashing power of Litecoin to mine the alt coins. A waste of time and efforts. Might as well concentrate on just Bitcoin and Litecoin
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nzdude (OP)
Member
Offline
Activity: 86
Merit: 10
STARCOIN the BEST
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June 21, 2013, 04:46:30 AM |
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yes but it will be rising alot faster if everyone was mining these 2 coins only |
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muddafudda
Legendary
Offline
Activity: 1008
Merit: 1022
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June 21, 2013, 05:56:40 AM |
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yes but it will be rising alot faster if everyone was mining these 2 coins only So your saying to stop mining where your making more money than me to come mine LTC to make ME more money. You sir are an idiot. |
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anderl
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June 21, 2013, 08:16:23 AM |
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Haters, did you know crapcoins, could actually be helping you mine more litecoins? Let me know if my theory is correct heres how: Because there is a restriction on the amount of coins produced, you need as few people as possible to mine the same coin as you. if half the people are mining these "crapcoins" and the other half are mining LITECOINS it means its easier for you to make money mining litecoins. if these half wernt mining the "crapcoins" then they will be mining litecoins and your earnings are halved, as the difficulty will be twice what it is now. The other side of the argument is that bitcoins are wasted speculating on crapcoins and not driving up the price of LTC. Also, I think all altcoins are pushing around 3-4 GHs, which would be a relatively small increase in litecoin difficulty. Its between 6-7 GHs |
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usahero
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June 21, 2013, 08:23:44 AM |
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Haters, did you know crapcoins, could actually be helping you mine more litecoins? Let me know if my theory is correct heres how: Because there is a restriction on the amount of coins produced, you need as few people as possible to mine the same coin as you. if half the people are mining these "crapcoins" and the other half are mining LITECOINS it means its easier for you to make money mining litecoins. if these half wernt mining the "crapcoins" then they will be mining litecoins and your earnings are halved, as the difficulty will be twice what it is now. Yes, you are right. More ppl on crapcoins = less ppl on LTC => LTC difficulty is lower => LTC more profitable to mine for LTC miners |
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shaunb
Newbie
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Activity: 42
Merit: 0
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June 21, 2013, 10:20:27 AM |
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This is only true if Litecoin sustains it's value. A large part of the value of a coin however is security. If the LTC network hash rate drops, so does the security of the coin which could drive investors away from it.
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temor
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June 21, 2013, 10:22:48 AM |
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I would rather see everyone mining Litecoins than anyone mining these scamcoins. They are the cancer that is killing cryptocurrencies. Let's all just stick to those that work and stop being blinded by the "quick buck" potential of the shitcoins.
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FuzzyBear
Legendary
Offline
Activity: 1420
Merit: 1010
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June 21, 2013, 11:53:53 AM |
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don't forget it also means more money for the SHA-256 coins.. BTC, PPC, TRC, and all the MM coins chugging along nicely and happy to see people not pushing me out of the BTC mining game just yet  |
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hate_the_face
Member
Offline
Activity: 84
Merit: 10
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June 21, 2013, 01:13:26 PM |
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I would rather see everyone mining Litecoins than anyone mining these scamcoins. They are the cancer that is killing cryptocurrencies. Let's all just stick to those that work and stop being blinded by the "quick buck" potential of the shitcoins.
lol, so let's only make a quick buck if it's gonna be MY quick buck not a fan of fringe coins, but everything starts somewhere its more about the services you can use with them, which is why I view Litecoin as the clear number 2 right now |
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nearmiss
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June 21, 2013, 01:23:36 PM |
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why are litecoins better again? Or to be more accurate, when litecoins were a week or two old (like most of these 'scam coins' are), why would anyone have said they were any better? Pretty sure everyone said the exact same thing about ltc in its infancy.
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Profit-Switching Pool w/ Vardiff -> http://hashco.ws Optionally keep the alts we mine or auto-trade for BTC. In addition can be paid out in any of: 365, AC, BC, BTC, C2, CINNI, COMM, FAC, HBN, MINT, PMC, QRK, RDD, WC, XBC |
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thekidcoin
Sr. Member
Offline
Activity: 308
Merit: 250
FlutterCoin Developer
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June 21, 2013, 02:27:45 PM |
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Haters, did you know crapcoins, could actually be helping you mine more litecoins? Let me know if my theory is correct heres how: Because there is a restriction on the amount of coins produced, you need as few people as possible to mine the same coin as you. if half the people are mining these "crapcoins" and the other half are mining LITECOINS it means its easier for you to make money mining litecoins. if these half wernt mining the "crapcoins" then they will be mining litecoins and your earnings are halved, as the difficulty will be twice what it is now. Think of these new coins, that many times have a higher profitability than LTC, as a tool to get more LTC than you would have mining LTC. |
1MYL967PR52xiNtqSP9WphRvPzKZDjBdxn
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