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Author Topic: [ANN] Litecoin - a lite version of Bitcoin. Launched!  (Read 1309993 times)
Belogvardeec
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August 12, 2017, 03:12:16 PM
 #3861

Go < 0.012 Cool

"Bыcшaя дoбpoдeтeль в тyндpe тepпeниe и ocтopoжнocть. Bыcшaя дypocть лeзть нaпpoлoм. Oгибaй, выжидaй, тepпи."
Aктyaльнo и для тpeйдингa.
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Belogvardeec
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August 12, 2017, 04:59:12 PM
 #3862

Thank you, very kind of you Smiley
Could you next time squeeze below 0.0112?

"Bыcшaя дoбpoдeтeль в тyндpe тepпeниe и ocтopoжнocть. Bыcшaя дypocть лeзть нaпpoлoм. Oгибaй, выжидaй, тepпи."
Aктyaльнo и для тpeйдингa.
_Ini_
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August 13, 2017, 03:08:24 PM
 #3863

I recently saw that the hashing power of Ethereum is way larger then the hashing power of Litecoin. As far as I know both are GPU mined. Correct me if I'm wrong, then I take everything back Smiley. So my statement:

Just one mining-pool of Ethereum can easily destroy Litecoin. So why does Litecoin have any value associated with it at the moment?
Thetaj
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August 13, 2017, 03:20:37 PM
 #3864

I recently saw that the hashing power of Ethereum is way larger then the hashing power of Litecoin. As far as I know both are GPU mined. Correct me if I'm wrong, then I take everything back Smiley. So my statement:

Just one mining-pool of Ethereum can easily destroy Litecoin. So why does Litecoin have any value associated with it at the moment?

Let me correct that for you. Ethereum's hashing power is a little bit lower than Litecoin's. The reason for that is that Litecoin uses Scrypt algorithm, which isn't the same as ETH (which uses Keccak or SHA3 and the POW is Ethash). To put things into a little perspective: Litecoin's Scrypt algorithm is about 1000X more difficult to do (more memory intensive) than SHA256D; the Bitcoin POW. So basically 1TH of Bitcoin mining will only translate to about 1Ghz of Litecoin mining within the same chip power.

If you would like to test it out yourself, I suggest you take your Ethereum Mining rig and try to get it to mine some Litecoins. You will understand my point very quickly since your GPUs will literally be mining dust if you try to mine Litecoin with it.

I suspect the reason why no one has answered you is because this is actually pretty common knowledge and they have far better things to do than me
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August 13, 2017, 04:20:31 PM
 #3865

I recently saw that the hashing power of Ethereum is way larger then the hashing power of Litecoin. As far as I know both are GPU mined. Correct me if I'm wrong, then I take everything back Smiley. So my statement:

Just one mining-pool of Ethereum can easily destroy Litecoin. So why does Litecoin have any value associated with it at the moment?

Let me correct that for you. Ethereum's hashing power is a little bit lower than Litecoin's. The reason for that is that Litecoin uses Scrypt algorithm, which isn't the same as ETH (which uses Keccak or SHA3 and the POW is Ethash). To put things into a little perspective: Litecoin's Scrypt algorithm is about 1000X more difficult to do (more memory intensive) than SHA256D; the Bitcoin POW. So basically 1TH of Bitcoin mining will only translate to about 1Ghz of Litecoin mining within the same chip power.

If you would like to test it out yourself, I suggest you take your Ethereum Mining rig and try to get it to mine some Litecoins. You will understand my point very quickly since your GPUs will literally be mining dust if you try to mine Litecoin with it.

I suspect the reason why no one has answered you is because this is actually pretty common knowledge and they have far better things to do than me

thx I've not done so much research on Litecoin so far, because I was not interested. But why you compare GPU mined coins with ASIC mined coins and not Litecoin with Ethereum. You compare Bitcoin THz with Litecoin GHz why not compare Ethereum THz with Litecoin?
Thetaj
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August 13, 2017, 05:14:25 PM
 #3866



thx I've not done so much research on Litecoin so far, because I was not interested. But why you compare GPU mined coins with ASIC mined coins and not Litecoin with Ethereum. You compare Bitcoin THz with Litecoin GHz why not compare Ethereum THz with Litecoin?

Because they are for different algorithms. If everyone in the world with an ETH mining rig switched over to mine Litecoin right now, the power of all their machines together would not even reach 25% hash power for Scrypt. This is why it is not economically viable to mine Litecoin with GPUs.

If it was, everyone would be doing it, including me, but it isn't.
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August 13, 2017, 05:16:19 PM
 #3867



thx I've not done so much research on Litecoin so far, because I was not interested. But why you compare GPU mined coins with ASIC mined coins and not Litecoin with Ethereum. You compare Bitcoin THz with Litecoin GHz why not compare Ethereum THz with Litecoin?

Because they are for different algorithms. If everyone in the world with an ETH mining rig switched over to mine Litecoin right now, the power of all their machines together would not even reach 25% hash power for Scrypt. This is why it is not economically viable to mine Litecoin with GPUs.

If it was, everyone would be doing it, including me, but it isn't.

You mean Litecoin is not GPU mined? What do people use to mine Litecoin? CPU, Asics, RAM?
jtalk
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August 13, 2017, 05:20:33 PM
 #3868

Also I succeeded to raise the number of Litecoins in my basket. It was nice but totally unexpected how people deal with precious coins. Litecoin's rally will start once we see some stability in Bitcoin. Alos so many things like lightening network is coming of which these two will be benefited. My focus is shifted to Litecoin from other tokens in preparation to long run.


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Thetaj
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August 13, 2017, 05:38:29 PM
 #3869




You mean Litecoin is not GPU mined? What do people use to mine Litecoin? CPU, Asics, RAM?

Its ok, we were all noobs once. Do some research in the language you prefer. Litecoin mining is pretty much the same as Bitcoin mining now
Mr Frog
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August 13, 2017, 08:12:12 PM
 #3870



thx I've not done so much research on Litecoin so far, because I was not interested. But why you compare GPU mined coins with ASIC mined coins and not Litecoin with Ethereum. You compare Bitcoin THz with Litecoin GHz why not compare Ethereum THz with Litecoin?

Because they are for different algorithms. If everyone in the world with an ETH mining rig switched over to mine Litecoin right now, the power of all their machines together would not even reach 25% hash power for Scrypt. This is why it is not economically viable to mine Litecoin with GPUs.

If it was, everyone would be doing it, including me, but it isn't.

You mean Litecoin is not GPU mined? What do people use to mine Litecoin? CPU, Asics, RAM?

L3+ Antminer ASIC chip
https://shop.bitmain.com/antminer_l3_litecoin_asic_scrypt_miner.htm

I did not post this message, The Russians did it !
_Ini_
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August 14, 2017, 12:16:02 AM
 #3871



thx I've not done so much research on Litecoin so far, because I was not interested. But why you compare GPU mined coins with ASIC mined coins and not Litecoin with Ethereum. You compare Bitcoin THz with Litecoin GHz why not compare Ethereum THz with Litecoin?

Because they are for different algorithms. If everyone in the world with an ETH mining rig switched over to mine Litecoin right now, the power of all their machines together would not even reach 25% hash power for Scrypt. This is why it is not economically viable to mine Litecoin with GPUs.

If it was, everyone would be doing it, including me, but it isn't.

You mean Litecoin is not GPU mined? What do people use to mine Litecoin? CPU, Asics, RAM?

L3+ Antminer ASIC chip
https://shop.bitmain.com/antminer_l3_litecoin_asic_scrypt_miner.htm

thx
alevlaslo
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August 14, 2017, 09:28:59 AM
 #3872

First the bottom of the LTC was 0.006, the next was 0.003, and now it seems that 0.0015
Mr Frog
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August 15, 2017, 08:43:37 PM
 #3873

It's BTC time. But LTC will shine again soon. No worry. Litecoin community is huge.

I did not post this message, The Russians did it !
Euro1000
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August 17, 2017, 08:14:21 AM
 #3874

Falcon Private Bank (Swiss) added Litecoin (beside Bitcoin Cash and Ethereum) to its portfolio:
https://cointelegraph.com/news/after-bitcoin-swiss-bank-becomes-first-to-offer-bitcoin-cash-altcoins
wgd
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August 17, 2017, 10:19:33 AM
 #3875

Can we say that llitecoin collected on btc-e have returned to the market? Are they still out of range?  Roll Eyes
hansen.ng
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August 17, 2017, 11:22:23 PM
 #3876

Litecoin is one of the oldest cryptocurrencies out there. The user base is bigger than a lot of other coin out there. This can be seen from the current rank at 6th on coinmarketcap. I think Charlie Lee have something huge planned out for this project. So at current price it is a great buy.

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unchained
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August 18, 2017, 07:08:58 AM
 #3877

Litecoin is one of the oldest cryptocurrencies out there. The user base is bigger than a lot of other coin out there. This can be seen from the current rank at 6th on coinmarketcap. I think Charlie Lee have something huge planned out for this project. So at current price it is a great buy.

I fully agree. And today we have a Litecoin developer update. Exciting  Grin
Periodik
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August 18, 2017, 10:12:57 AM
 #3878

Litecoin is one of the oldest cryptocurrencies out there. The user base is bigger than a lot of other coin out there. This can be seen from the current rank at 6th on coinmarketcap. I think Charlie Lee have something huge planned out for this project. So at current price it is a great buy.

I fully agree. And today we have a Litecoin developer update. Exciting  Grin

Maybe let us wait for these new coins heavy correction and old reliable coins like Litecoin will start owning volumes once again.
cordlesslake
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August 18, 2017, 07:45:32 PM
 #3879

Litecoin is one of the oldest cryptocurrencies out there. The user base is bigger than a lot of other coin out there. This can be seen from the current rank at 6th on coinmarketcap. I think Charlie Lee have something huge planned out for this project. So at current price it is a great buy.

I fully agree. And today we have a Litecoin developer update. Exciting  Grin

Maybe let us wait for these new coins heavy correction and old reliable coins like Litecoin will start owning volumes once again.
Hope it will happens, i am sure litecoin is great many people have to recover from big loss since last month it was at 0.021 against BTC
unchained
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August 18, 2017, 08:16:06 PM
 #3880

Litecoin is one of the oldest cryptocurrencies out there. The user base is bigger than a lot of other coin out there. This can be seen from the current rank at 6th on coinmarketcap. I think Charlie Lee have something huge planned out for this project. So at current price it is a great buy.

I fully agree. And today we have a Litecoin developer update. Exciting  Grin

Maybe let us wait for these new coins heavy correction and old reliable coins like Litecoin will start owning volumes once again.
Hope it will happens, i am sure litecoin is great many people have to recover from big loss since last month it was at 0.021 against BTC

I guess a lot of people have to understand that investing in cryptos is not a guaranteed 'get-rich-quick' scheme.
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