[ANN] Litecoin - a lite version of Bitcoin. Launched!

[tranthidung]

Would this halving bring a surge in price or reduction in miners due to lack of profitability?

With same electricity cost, same difficulty, miners will get less Litecoin from mining. It means their income will only remain as same as before halving if Litecoin price increases two times (compared to its price before halving). It is why lots of investors pay their attention on Litecoin, recent weeks, someone hope that Litecoin will keep doubling increase at the period around halving time (before or after that a little bit).

[1713905493]

1713905493

[bkbirge]

I'm reminded of the old saw "buy on the hype, sell on the news".
According to coinbase this is the current top holder activity buy/sell percentages... 29/71

[Searing]

Would this halving bring a surge in price or reduction in miners due to lack of profitability?

With same electricity cost, same difficulty, miners will get less Litecoin from mining. It means their income will only remain as same as before halving if Litecoin price increases two times (compared to its price before halving). It is why lots of investors pay their attention on Litecoin, recent weeks, someone hope that Litecoin will keep doubling increase at the period around halving time (before or after that a little bit).

I was told by a buddy that pretty much now, at this difficulty and this price point, you need 4c kWh or under to make any pennies at all.

Also was offered from a legit guy (I'm fairly sure) an Innsolicon T30 2.2th 2,200 watt unit for $900 and $50 shipping to the states.

Unfortunately, he forgot about the NOW 37.6% Tariff to the USA with Import Fees.

IF Trump has his way, he may go back as a pushback to China devaluing currency today, to another 25% rise in tariffs Sept 1st.

IF, so that would mean the tariff and import fees (plus shipping) would likely be something like $1,300 a unit to the USA or about say $950 a unit

for the rest of the NON-USA tariff world and/or the VAT Countries.

IF, these folk in non-VAT or Tariff parts of the world are in FULL FOMO MODE...well sh*t...it very well could be no more mining of any type in the USA

for 2019 and into 2020. (Perhaps, that is already the case, and just missed the memo)

ugly, ugly, ugly


If you add to this my somewhat other 'dubious' fear, in that, my 'guess' that 70% or so of all scrypt-pow miners on LTC network are Bitmain L3's or L3+'s.

(They were pumped out for 3 years). Then that group shuts off due to difficulty, then difficulty adjusts and that group turns back on, rinse/wash/repeat.

We could yo/yo in that pattern for 3-4 months, driving the price down as these guys sell their LTC and such to pay bills on their data halls or whatever, driving

price further down.

again, perhaps, dubious, but where mining goes, so goes price I'm afraid. Could form an LTC price downward spiral vortex indeed.

Brad

(disclaimer: have not mined anything since 2/14/19 on Valentine's day. My data hall rate is 10c kWh and my home rate has spiked in Summer Rates to 17.27c kWh, so

as you can see I'm so far out of any type of scrypt-pow or indeed any flavor of ASIC mining that I need a pair of binoculars to even read the LTC difficulty at this point.)

[mercedes321]

Would this halving bring a surge in price or reduction in miners due to lack of profitability?

With same electricity cost, same difficulty, miners will get less Litecoin from mining. It means their income will only remain as same as before halving if Litecoin price increases two times (compared to its price before halving). It is why lots of investors pay their attention on Litecoin, recent weeks, someone hope that Litecoin will keep doubling increase at the period around halving time (before or after that a little bit).

I was told by a buddy that pretty much now, at this difficulty and this price point, you need 4c kWh or under to make any pennies at all.

Also was offered from a legit guy (I'm fairly sure) an Innsolicon T30 2.2th 2,200 watt unit for $900 and $50 shipping to the states.

Unfortunately, he forgot about the NOW 37.6% Tariff to the USA with Import Fees.

IF Trump has his way, he may go back as a pushback to China devaluing currency today, to another 25% rise in tariffs Sept 1st.

IF, so that would mean the tariff and import fees (plus shipping) would likely be something like $1,300 a unit to the USA or about say $950 a unit

for the rest of the NON-USA tariff world and/or the VAT Countries.

IF, these folk in non-VAT or Tariff parts of the world are in FULL FOMO MODE...well sh*t...it very well could be no more mining of any type in the USA

for 2019 and into 2020. (Perhaps, that is already the case, and just missed the memo)

ugly, ugly, ugly


If you add to this my somewhat other 'dubious' fear, in that, my 'guess' that 70% or so of all scrypt-pow miners on LTC network are Bitmain L3's or L3+'s.

(They were pumped out for 3 years). Then that group shuts off due to difficulty, then difficulty adjusts and that group turns back on, rinse/wash/repeat.

We could yo/yo in that pattern for 3-4 months, driving the price down as these guys sell their LTC and such to pay bills on their data halls or whatever, driving

price further down.

again, perhaps, dubious, but where mining goes, so goes price I'm afraid. Could form an LTC price downward spiral vortex indeed.

Brad

(disclaimer: have not mined anything since 2/14/19 on Valentine's day. My data hall rate is 10c kWh and my home rate has spiked in Summer Rates to 17.27c kWh, so

as you can see I'm so far out of any type of scrypt-pow or indeed any flavor of ASIC mining that I need a pair of binoculars to even read the LTC difficulty at this point.)

use hashnest, no fuss, no worries, no tariffs!

[kunkelast]

I checked quite similar project a few days ago. That looks better. Will certainly follow it. Thank you guys. Thank you guys.

[Lind]

Litecoin price increased quite a lot yday, but i thought the halving would boost it more :O

It is manipulated + recent BTC rise is  pretty much tormenting altcoins in general. Sadly this is how it is, for now. 

[rebal15]

Litecoin price increased quite a lot yday, but i thought the halving would boost it more :O

If block reward boost prices, the price of monero, dash, ethereum should be boosted.

[rebal15]

Litecoin price increased quite a lot yday, but i thought the halving would boost it more :O

It is manipulated + recent BTC rise is  pretty much tormenting altcoins in general. Sadly this is how it is, for now. 

It is clear that there is a manipulation which is the only fundamental of cryptos. the well synchronized market movement; BTC pump and all altcoins dump; and the fact that some people predicted this movement makes me think that there is only one entity behind this market.

[Searing]

Would this halving bring a surge in price or reduction in miners due to lack of profitability?

With same electricity cost, same difficulty, miners will get less Litecoin from mining. It means their income will only remain as same as before halving if Litecoin price increases two times (compared to its price before halving). It is why lots of investors pay their attention on Litecoin, recent weeks, someone hope that Litecoin will keep doubling increase at the period around halving time (before or after that a little bit).

I was told by a buddy that pretty much now, at this difficulty and this price point, you need 4c kWh or under to make any pennies at all.

Also was offered from a legit guy (I'm fairly sure) an Innsolicon T30 2.2th 2,200 watt unit for $900 and $50 shipping to the states.

Unfortunately, he forgot about the NOW 37.6% Tariff to the USA with Import Fees.

IF Trump has his way, he may go back as a pushback to China devaluing currency today, to another 25% rise in tariffs Sept 1st.

IF, so that would mean the tariff and import fees (plus shipping) would likely be something like $1,300 a unit to the USA or about say $950 a unit

for the rest of the NON-USA tariff world and/or the VAT Countries.

IF, these folk in non-VAT or Tariff parts of the world are in FULL FOMO MODE...well sh*t...it very well could be no more mining of any type in the USA

for 2019 and into 2020. (Perhaps, that is already the case, and just missed the memo)

ugly, ugly, ugly


If you add to this my somewhat other 'dubious' fear, in that, my 'guess' that 70% or so of all scrypt-pow miners on LTC network are Bitmain L3's or L3+'s.

(They were pumped out for 3 years). Then that group shuts off due to difficulty, then difficulty adjusts and that group turns back on, rinse/wash/repeat.

We could yo/yo in that pattern for 3-4 months, driving the price down as these guys sell their LTC and such to pay bills on their data halls or whatever, driving

price further down.

again, perhaps, dubious, but where mining goes, so goes price I'm afraid. Could form an LTC price downward spiral vortex indeed.

Brad

(disclaimer: have not mined anything since 2/14/19 on Valentine's day. My data hall rate is 10c kWh and my home rate has spiked in Summer Rates to 17.27c kWh, so

as you can see I'm so far out of any type of scrypt-pow or indeed any flavor of ASIC mining that I need a pair of binoculars to even read the LTC difficulty at this point.)

use hashnest, no fuss, no worries, no tariffs!

That boat don't look to good either

https://cryptominer.deals/product/bitmain-antminer-s15

$0.1093/TH per day or approx at this time $3.09/day and 318 days to ROI on above.

Ouch.

I can get an Innsolicon direct from East Asia (not China) legit for 30TH at 2,200 watts and at $900 plus $50 shipping and pay the tariff after Sept 1st of 37.6% that comes out to

$1,307.20. (note: including the $50 shipping in that fed ex or whoever always include it in their fee calculations anyway..so going with that)

See below Innsolicon 30T 2,200 watts at 10c kWh.

https://www.cryptocompare.com/mining/calculator/btc?HashingPower=30&HashingUnit=TH%2Fs&PowerConsumption=2200&CostPerkWh=0.10&MiningPoolFee=0

So with the almost making ROI in a year 365 days WITH the ugly 36.7% USA tariff and 2TH more than the hashnet at 28TH

and of course the difficulty by the calculators assuming FLAT

hashnest don't look like any more of a boat that floats then me getting the $1,309.20 Innsolicon 30T 2200 watt unit I passed on direct to my buddies 10c kWh rated data hall.

Both suck, just saying in the USA at this time.

[zacxavier]

What if the price of litecoin won't double for a long period of time that could make 50% less of miners rewards? this could be a thing for them to move and mine other coins right?

Coz this ain't profitable anymore, why would they stay to keep the network secure? Pardon my stupidity, Im just curious. Answer if you will.

[kamalsharma100]

Litecoin really amazes me and I have great expectations from it.  Now at #5 as per market capitalization, never dropped below rank 10 in 5 years.  Only other coin which was always top 10 was none other than BTC!

[Totscha]

What if the price of litecoin won't double for a long period of time that could make 50% less of miners rewards? this could be a thing for them to move and mine other coins right?

Coz this ain't profitable anymore, why would they stay to keep the network secure? Pardon my stupidity, Im just curious. Answer if you will.

All of this has happened before and it will happen again.

4 years ago it was practically the same situation (perhaps even worse). The price was low and mining was barely profitable before the halving. And people were losing their shit panicking that it's all going to hell after the halving.

Guess what happened? Nothing. Well the difficulty did stop increasing, but that's about it...

Serious mining is a long term business. There are really bad months, barely break even months and excellent months. Most miners will just stop replacing broken hardware. The difficulty will probably stay where it is and perhaps even decrease a bit until we get to $200+. Then it's business as usual.

[hd49728]

All of this has happened before and it will happen again.

4 years ago it was practically the same situation (perhaps even worse). The price was low and mining was barely profitable before the halving. And people were losing their shit panicking that it's all going to hell after the halving.

Guess what happened? Nothing. Well the difficulty did stop increasing, but that's about it...

Serious mining is a long term business. There are really bad months, barely break even months and excellent months. Most miners will just stop replacing broken hardware. The difficulty will probably stay where it is and perhaps even decrease a bit until we get to $200+. Then it's business as usual.

Samet thing happened with bitcoin in 2018. People, investors, miners talked shit about bitcoin, and its mining profits. Most of inexperienced miners and mining farms stopped mining it. Then, what we saw by now. They come back, when price increased dramatically, but if looking back, they lost great opportunities to mine bitcoin at lower difficulty and higher mining rewards with same cost of electricity. Mining in bear market is always a serious bussiness, but it will give miners, loyal miners huge profits.

[Andrews193]

Litecoin really amazes me and I have great expectations from it.  Now at #5 as per market capitalization, never dropped below rank 10 in 5 years.  Only other coin which was always top 10 was none other than BTC!

I think you should reduce your expectations for it and transfer some of your expectations to famous places because litecoin has so little strength left, many people here have been with it for years, they can recognize that problem, its development has slowed and so expectations are higher but it cannot meet our needs. Although it may increase each year at some stage but many competitors may increase more strongly, participate in it as a major safety investment but do not put too much into it.

[zahidmoon]

Litecoin really amazes me and I have great expectations from it.  Now at #5 as per market capitalization, never dropped below rank 10 in 5 years.  Only other coin which was always top 10 was none other than BTC!

I think you should reduce your expectations for it and transfer some of your expectations to famous places because litecoin has so little strength left, many people here have been with it for years, they can recognize that problem, its development has slowed and so expectations are higher but it cannot meet our needs. Although it may increase each year at some stage but many competitors may increase more strongly, participate in it as a major safety investment but do not put too much into it.

why litecoin has left no strength. it is at number five according to coinmarketcap in this current situation of the crypto market. there are also another good options besides litecoin but litecoin is also best two days ago its price touches 100$ and now its again at 89$, worry not because of the whole market is going little bit down with BTC. but one thing i agree with you that don't put too much into litecoin or any other crypto.

[zacxavier]

What if the price of litecoin won't double for a long period of time that could make 50% less of miners rewards? this could be a thing for them to move and mine other coins right?

Coz this ain't profitable anymore, why would they stay to keep the network secure? Pardon my stupidity, Im just curious. Answer if you will.

Serious mining is a long term business. There are really bad months, barely break even months and excellent months. Most miners will just stop replacing broken hardware. The difficulty will probably stay where it is and perhaps even decrease a bit until we get to $200+. Then it's business as usual.

For the believers of the future store of value of Litecoin. They are accumulating as much Litecoin they could have for future purposes, right now it is hard to understand but maybe in the future economics of crypto it would make sense.

[CORNEL]

Litecoin is sitting calm and not following the path of BTC it seems a storm will come very soon and many people will miss the chance to catch the train. I am very confident soon price will be sky rocket and the moon is on the way.

[bkbirge]

Litecoin is sitting calm and not following the path of BTC it seems a storm will come very soon and many people will miss the chance to catch the train. I am very confident soon price will be sky rocket and the moon is on the way.

Why?

[Williams_Leo]

Litecoin is sitting calm and not following the path of BTC it seems a storm will come very soon and many people will miss the chance to catch the train. I am very confident soon price will be sky rocket and the moon is on the way.

Why?

Because of the litecoin halving event, in the past, when the same event occurred with bitcoin, the value of bitcoin has changed markedly and now we see a price as it is now, Litecoin as an in-house brother of bitcoin, people always put a lot of hope that it will develop as bitcoin, and with this event, this will be an opportunity for litecoin to prove that it deserves to stand with bitcoin. However, life in crypto is never sure, we should believe half, and half doubt, putting too much faith will be very dangerous.

[bkbirge]

Litecoin is sitting calm and not following the path of BTC it seems a storm will come very soon and many people will miss the chance to catch the train. I am very confident soon price will be sky rocket and the moon is on the way.

Why?

Because of the litecoin halving event, in the past, when the same event occurred with bitcoin, the value of bitcoin has changed markedly and now we see a price as it is now, Litecoin as an in-house brother of bitcoin, people always put a lot of hope that it will develop as bitcoin, and with this event, this will be an opportunity for litecoin to prove that it deserves to stand with bitcoin. However, life in crypto is never sure, we should believe half, and half doubt, putting too much faith will be very dangerous.

I think the price of LTC has already factored in the halvening. People have known about it in advance forever. I'd love to see it moon as I have a decent position but I don't see any fundamental reason for it to do so near term. Everything still seems to depend on bitcoin behavior.