Litecoin is officially dead

[Liquid71]

Nah not really, the price was 1$ and people still mined there, the price is 3$ now so it could go down for a little even after the halvening, probably will, it always happens, before the halvening and a few days after the price goes down because everyone thinks will go up.

No new ASIC miners have been produced so without a price increase or an efficiency increase it will not be profitable to mine at $1 unless the difficulty drops dramatically which would lower the security of the blockchain. SFARDS is the only new ASIC to market and it's a hybird BTC and LTC miner and way over priced and late. If they drop the price and get mass production going that miner could support the network while price adjusts, but those are big ifs..At this point something has to give, lower difficulty or higher price.

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[Bardman]

Nah not really, the price was 1$ and people still mined there, the price is 3$ now so it could go down for a little even after the halvening, probably will, it always happens, before the halvening and a few days after the price goes down because everyone thinks will go up.

No new ASIC miners have been produced so without a price increase or an efficiency increase it will not be profitable to mine at $1 unless the difficulty drops dramatically which would lower the security of the blockchain. SFARDS is the only new ASIC to market and it's a hybird BTC and LTC miner and way over priced and late. If they drop the price and get mass production going that miner could support the network while price adjusts, but those are big ifs..At this point something has to give, lower difficulty or higher price.

Bullshit, did you really calculate if it would be profitable at this price? I doubt it, does the blockchain really lose on security when difficulty drops? Because im not expert but i doubt it.

[Liquid71]

Nah not really, the price was 1$ and people still mined there, the price is 3$ now so it could go down for a little even after the halvening, probably will, it always happens, before the halvening and a few days after the price goes down because everyone thinks will go up.

No new ASIC miners have been produced so without a price increase or an efficiency increase it will not be profitable to mine at $1 unless the difficulty drops dramatically which would lower the security of the blockchain. SFARDS is the only new ASIC to market and it's a hybird BTC and LTC miner and way over priced and late. If they drop the price and get mass production going that miner could support the network while price adjusts, but those are big ifs..At this point something has to give, lower difficulty or higher price.

Bullshit, did you really calculate if it would be profitable at this price? I doubt it, does the blockchain really lose on security when difficulty drops? Because im not expert but i doubt it.

Yes the higher the hashrate the more secure the blockchain. And I wasted all of 2014 mining LTC and held all the way down..the titan and A2 are the only profitable miners and that's before the halving. Obviously peoples operating costs differ so people with free or really cheap electric can still mine and turn a profit, but the majority are going to have a hard time unless difficulty drops or price rises. When difficulty drops they get more coins for their hashrate, if the price rises then they turn a profit even though they are getting less coins after halving since the coins are worth more.
I'm not hating on LTC, if the price rises then companies will build new miners because their will be more demand for them. And the SFARDS miner might drop in price enough everyone will buy one and even if they buy it for Bitcoin they're still going to mine LTC since they can mine them both at the same time. Just as things stand now lets just say I'm glad I'm not still mining LTC 

[Searing]

Nah not really, the price was 1$ and people still mined there, the price is 3$ now so it could go down for a little even after the halvening, probably will, it always happens, before the halvening and a few days after the price goes down because everyone thinks will go up.

No new ASIC miners have been produced so without a price increase or an efficiency increase it will not be profitable to mine at $1 unless the difficulty drops dramatically which would lower the security of the blockchain. SFARDS is the only new ASIC to market and it's a hybird BTC and LTC miner and way over priced and late. If they drop the price and get mass production going that miner could support the network while price adjusts, but those are big ifs..At this point something has to give, lower difficulty or higher price.

I'm mining with Titan(s) at 13c kwh my break even price is 1.08 usd or so in elec costs to mine.

Yeah I take your point. Right now using the below calculator if you have say anything under 110mh it is ugly ugly for pow/scrpt mining LTC

using this calc from www.litecoinpool.org

https://www.litecoinpool.org/calc

so using 110mh  at (guessing) 900 watts at 13c kwh you make like 20 bucks  a month unless you need a space heater this winter anything under 110mh
at least in my part of the world is not really gonna pay at these about 2.88 usd prices for LTC

and NO ONE is gonna make a scrypt/pow miner at 2-3 bucks a coin ...just an't gonna happen

what this means I've no clue just stuff I ponder scratch my head about...I suspect however with my imprefect reasoing it does NOT BODE WELL for LTC and all
of pow/scrypt coins....just saying

[FloridaBear]

I don't believe miners are 100% aware of the block reward halving yet...we should definitely see a drop in the hash rate. Basically, every Scrypt miner except Titans and A2 Terminators are now unprofitable (and A2s are just barely profitable). Neither of those are being actively produced any more, and I don't know of any new Scrypt miners coming out [EDIT: except Sfards, but that's a "hybrid" with a pretty low Scrypt hashrate]. KNC Titans had a profit factor of >10 just recently at $0.1/KWh; now they are about 4.

I think we will see a drop in LTC network hash rate over the next few days of probably 30% or so as older miners are shut down, probably permanently. I don't know yet if the drop in supply of LTC being sold is enough to significantly raise prices; that's hard to say without knowing what percentage of miners dump their coins on a daily basis, what the total volume of LTC is across exchanges, etc. I will say that block reward halving is certainly a positive influence on price, but that may or may not be trivial.

In any case, it's bad news for miners at the moment, but things may look slightly better in a week or so...time will tell.

That being said, bitcoin miners have been hurt a bit by the price drop as well, even Antminer S5s are only about a 1.8 profit factor at $0.1/KWh.

As to the OP, Litecoin is clearly not dead, but it's pretty stagnant. Without more adoption, it will eventually die like all of the alts...

[Searing]

I don't believe miners are 100% aware of the block reward halving yet...we should definitely see a drop in the hash rate. Basically, every Scrypt miner except Titans and A2 Terminators are now unprofitable (and A2s are just barely profitable). Neither of those are being actively produced any more, and I don't know of any new Scrypt miners coming out [EDIT: except Sfards, but that's a "hybrid" with a pretty low Scrypt hashrate]. KNC Titans had a profit factor of >10 just recently at $0.1/KWh; now they are about 4.

I think we will see a drop in LTC network hash rate over the next few days of probably 30% or so as older miners are shut down, probably permanently. I don't know yet if the drop in supply of LTC being sold is enough to significantly raise prices; that's hard to say without knowing what percentage of miners dump their coins on a daily basis, what the total volume of LTC is across exchanges, etc. I will say that block reward halving is certainly a positive influence on price, but that may or may not be trivial.

In any case, it's bad news for miners at the moment, but things may look slightly better in a week or so...time will tell.

That being said, bitcoin miners have been hurt a bit by the price drop as well, even Antminer S5s are only about a 1.8 profit factor at $0.1/KWh.

As to the OP, Litecoin is clearly not dead, but it's pretty stagnant. Without more adoption, it will eventually die like all of the alts...

I've got two Titan(s) (2nd one at a good price in march so I've ROI'd even at this price) cost to mine 1 LTC at 13c kwh as of NOW is 1.08 usd at 650.1mh combined rate

you can figure out your own pain from the halving using this calculator from

www.litecoinpool.org


here is there calculator

https://www.litecoinpool.org/calc

run your own or other's figures

My profit after electric at the 13c kwh rate and 2.94 usd per LTC now is the following

total profit 637.68 USD

elec costs at 2500 watts (2 cubes with a dead die each less elec fyi) 234.00 USD   

403.68 USD PROFIT over price of electricity at the above price

A single user Titan (assuming they got the full 350mh over clocked out of it with NO dead dies (a big IF imho) say is 325 mh so half the values above or 201.84

not bad for the best single scrypt miner you can get but 201.84 and 117.00 for electric still is somewhat dismal since the halving imho (in that the price of ltc has dropped say 1/4)

sooooo...again as I said before (and others) anything  under 110mh (with the 110 mh unit making 20 bucks a month at my elec rates) is a LOSS

SO AT THE VERY LEAST for ME with supposedly the best scrypt/power miner available (if not the price in the past) 30% dump in difficulty quoted above would be
a godsend....so 30% more is a big deal ...but if (again imho) LTC at least does not climb back to above 4 bucks (either with btc's help or without) we who mine LTC yet
(so sad my last home miners).....are gonna be in a world of hurt imho.....(just because I'd be the last man standing with 2 titan(s) does not mean I want to be alone
completely don't ya know)

So some equip (some day) has to fill this void or it will all just wind down like a rubber band imho

(again my view WELCOME anyone who can assure me LTC will kinda sorta keep its 0.01 ratio to BTC in the far future in speculation and LTC being
silver to bitconi's gold jump in here...would like to be proved wrong ......buw without some of my concerns being addressed above...not good)

(the ways of crypto are mysterious to me and it seems to be getting worse the longer I am in this fun house)


On the other hand your idea that LTC difficulty will go down 30% does brighten my 'evil titan miner heart"

[btccashacc]

time to BUMP !! for litecoin

[ingiltere]

time to BUMP !! for litecoin

Why? There's no significant move both upwards or downwards. It's still at the same price after block halving.

[XinXan]

time to BUMP !! for litecoin

Why? There's no significant move both upwards or downwards. It's still at the same price after block halving.

It actually went down, before the halvening but im sure it will go up in the next month or so otherwise rip litecoins

[Abiky]

Litecoin is such a coin that I would never spend. I'll just hold them until Bitcoin's price skyrocket and so as Litecoin's This is a coin that I'll keep stored in a paper wallet for future generations 

[azguard]

Litecoin is such a coin that I would never spend. I'll just hold them until Bitcoin's price skyrocket

you not the only one a frind of mine said he will sell his ltc then price goes to 100$ cuz he didnt sell when it was above 40 so he wont dout now.

[Za1n]

I don't think we will see much of a decline in the network hash-rate as most of the miners already have sunk cost in their equipment and the amount of network hash is around the same as it was when litecoin was around the $1.50 mark. So even taking the halving into consideration, at $3.00 miners are making the same profit as they were before at $1.50. Also, as pointed out by others, a declining price might cut into profitability by they might not actually go into the negative until it goes a lot lower.

For instance, say at $3.00 a miner is making a hypothetical $100/day profit after electricity it could drop to $2.00 and they might still be making $50/day. Profit is profit.

I also think that some miners will mine at a slight loss for awhile as well, since history has shown that oftentimes when the price gets down to unprofitable levels, it soon shoots back up. So if you have a big operation going, it might be better to let it run a month or two at a "on paper" loss, say LTC drops to $1.00, but then it bounces back to $2.50 or so again. Profit is determined when they sell their litecoins, not necessarily what the price is on the day you mine it.

[High Plains Drifter]

It seems to me that Litecoin is being mined at about the same pace after halving as it was before.  I bet ole Mr. Lee manages to get litecoin on Coinbase within the next twelve months.  That'll move the price.

[btccashacc]

any chamce litecoin comeback to 55CNY /LTC
https://bitcoinwisdom.com/markets/huobi/ltccny

[manfred]

any chamce litecoin comeback to 55CNY /LTC ?

55 CNY= $ 8.60

[btccashacc]

time to BUMP !! for litecoin

Why? There's no significant move both upwards or downwards. It's still at the same price after block halving.

i see bitcoin price up and may be litecoin going to up again

any chamce litecoin comeback to 55CNY /LTC ?

55 CNY= $ 8.60
[im g]https://i.imgur.com/RzdVIWQ.png[/img]

hemm waiting bitcoin price up to 300$ and litecoin up too

[neochiny]

i think litecoin is still not dead...  it is following bitcoin steps...
and it will still stay long...
although it costs now a little than before.

[azguard]

i think litecoin is still not dead...  it is following bitcoin steps...
and it will still stay long...
although it costs now a little than before.

yes now only one thing remains for ltc to follow btc in price halving is passed and that over for now.

[FloridaBear]

I don't think we will see much of a decline in the network hash-rate as most of the miners already have sunk cost in their equipment and the amount of network hash is around the same as it was when litecoin was around the $1.50 mark. So even taking the halving into consideration, at $3.00 miners are making the same profit as they were before at $1.50. Also, as pointed out by others, a declining price might cut into profitability by they might not actually go into the negative until it goes a lot lower.

For instance, say at $3.00 a miner is making a hypothetical $100/day profit after electricity it could drop to $2.00 and they might still be making $50/day. Profit is profit.

I also think that some miners will mine at a slight loss for awhile as well, since history has shown that oftentimes when the price gets down to unprofitable levels, it soon shoots back up. So if you have a big operation going, it might be better to let it run a month or two at a "on paper" loss, say LTC drops to $1.00, but then it bounces back to $2.50 or so again. Profit is determined when they sell their litecoins, not necessarily what the price is on the day you mine it.

It never makes sense to mine at a loss. It would be better to shut the miners off and buy LTC using the money saved on electricity--you are getting a better price. Why would you pay $3.00 for LTC via mining when you can buy it for $2.68?

Speaking of which, I shut off 3 A2 Terminators today as the new difficulty combined with continued price erosion made them unprofitable. WTF is up with the hashrate increase? That makes no sense at all to me.

[shanem]

Litecoin is hitting new lows since the huge pump.
It will go below 0.01 btc soon.