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Litecoin is more expensive to 51% than Bitcoin
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Topic: Litecoin is more expensive to 51% than Bitcoin (Read 594 times)
btcrich
(OP)
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Litecoin is more expensive to 51% than Bitcoin
June 25, 2013, 06:51:14 PM
#1
With the Bitcoin network hashrate at around 133 TH/s, you would need about 2,660 of the 50 GH/s BFL miners costing $2,500 each.
Litecoin is at around 22 GH/s and would require around 36,666 of the AMD 7950 cards hashing at 600 KH/s per card and costing $300 each.
Total cost to 50% (add a little more for 51%)
Bitcoin - $6,650,000
Litecoin - $11,000,000
From a cost perspective, Litecoin seems to be more secure at the moment.
mr_random
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Re: Litecoin is more expensive to 51% than Bitcoin
June 25, 2013, 06:54:08 PM
#2
Nice.
Some other interesting points showing Litecoin to be more secure than Bitcoin are also presented here:
http://www.reddit.com/r/litecoin/comments/1cssqr/the_math_why_litecoin_is_more_secure_than_bitcoin/
Wait to Litecoin starts getting mainstream publicity after going on gox and journalists start picking up on these facts. They love to turn these things into wars, it makes more of a story.
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rme
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Re: Litecoin is more expensive to 51% than Bitcoin
June 25, 2013, 06:54:15 PM
#3
No.
You cant just buy so much ASICs.
btcrich
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Re: Litecoin is more expensive to 51% than Bitcoin
June 25, 2013, 06:55:43 PM
#4
Quote from: rme on June 25, 2013, 06:54:15 PM
No.
You cant just buy so much ASICs.
Actually, if you have $6,650,000, you could manufacture far more than 2,660, very quickly. I was just referencing BFL prices for the sake of argument.
Arcas
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Re: Litecoin is more expensive to 51% than Bitcoin
June 25, 2013, 06:57:22 PM
#5
Quote from: btcrich on June 25, 2013, 06:55:43 PM
Quote from: rme on June 25, 2013, 06:54:15 PM
No.
You cant just buy so much ASICs.
Actually, if you have $6,650,000, you could manufacture far more than 2,660, very quickly. I was just referencing BFL prices for the sake of argument.
Well by that logic, couldn't someone just make a scrypt ASIC?
TomHartburg
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Re: Litecoin is more expensive to 51% than Bitcoin
June 25, 2013, 06:58:00 PM
#6
Yea, and ebay is flooded with people selling lots of 40,000 gpu's...
I think if you are spending 6 million, bfl might do you a custom order
TomHartburg
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Re: Litecoin is more expensive to 51% than Bitcoin
June 25, 2013, 06:58:43 PM
#7
Also, hugely hypothetical scenarios. Point is, LTC network is looking pretty secure at the moment.
btcrich
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Re: Litecoin is more expensive to 51% than Bitcoin
June 25, 2013, 06:59:31 PM
#8
Quote from: Arcas on June 25, 2013, 06:57:22 PM
Quote from: btcrich on June 25, 2013, 06:55:43 PM
Quote from: rme on June 25, 2013, 06:54:15 PM
No.
You cant just buy so much ASICs.
Actually, if you have $6,650,000, you could manufacture far more than 2,660, very quickly. I was just referencing BFL prices for the sake of argument.
Well by that logic, couldn't someone just make a scrypt ASIC?
Some people are trying to make something more efficient than a GPU and don't seem to be having much success yet.
AzureEngineer
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Re: Litecoin is more expensive to 51% than Bitcoin
June 25, 2013, 07:26:43 PM
#9
Creating an ASIC for Bitcoin is child's play compared to designing a Scrypt ASIC. With Bitcoin, you can just keep throwing a numerous amount of faster parallel processors at it. Scrypt, on the other hand, requires more and more memory bandwidth to improve its speed. When you find a way to readily manufacture tons of cards with >GDRR5 memory, Litecoin would be a waste of your time compared to selling such an advancment to various manufacturing companies.
My name was simply a play on "Blue Engineer" from Team Fortress. I am not affiliated with Microsoft or the Azure project.
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