Topic: After 3 months of Litecoin halving, its hash rate is lowered more than 60% (Read 171 times)
November 06, 2019, 02:26:02 PM
Yeah sure, because mining Litecoin is getting unprofitable. Why should you invest in altcoin mining, when you can just buy LTC and get more rewards in the future. Moreover, there is a lack of altcoin miners available at the moment.
November 06, 2019, 07:07:16 AM
Not sure if that's a good thing to Litecoin, but lat time I check on OKEX, its price is dropping.
November 05, 2019, 01:23:52 PM
Look at the hash rate chart, the trend is falling like a wrecking ball.
Any Litecoin trader/ miner here? Please explain to me if it is the right time to buy it and enter mining pool of Litecoin.
Source: https://bitinfocharts.com/comparison/litecoin-hashrate.html
Hype about halving ended so price reacts to it and hash rate does the same. Just look at charts of price and hash rate. I think it's predictable. Any Litecoin trader/ miner here? Please explain to me if it is the right time to buy it and enter mining pool of Litecoin.
Source: https://bitinfocharts.com/comparison/litecoin-hashrate.html
November 05, 2019, 01:08:01 PM
I think there's no need to worry too much.With the Proof-of-work blockchain, when the hashrate decreases, the network's difficulty in blocks also decreases. That is, Litecoin difficulty has also decreased by 60%. The difficulty adjustment process is a mechanism to balance mining profits and can have a positive effect when the hashrate is significantly reduced. If the miner is interested in returning, Litecoin can gradually recover in both the mining network and the price.
November 05, 2019, 12:06:38 PM
Look at the hash rate chart, the trend is falling like a wrecking ball.
Any Litecoin trader/ miner here? Please explain to me if it is the right time to buy it and enter mining pool of Litecoin.
Source: https://bitinfocharts.com/comparison/litecoin-hashrate.html
It's not the right time to buy, maybe the hashrate gets lowered more than 60% but the price still remain the same. The halving has forced so many miners are moving to another coin or chain to get profit from their mining activities. Any Litecoin trader/ miner here? Please explain to me if it is the right time to buy it and enter mining pool of Litecoin.
Source: https://bitinfocharts.com/comparison/litecoin-hashrate.html
It's too difficult to determine when will be the best time for you to enter the mining pool of litecoin.
In mining, more hashrate and more difficulties but when the halving has come and the block reward is being reduced.
It's better to buy litecoin directly from the market rather than betting to mine litecoin in very hard difficulty.
Anytime must be the best time to buy litecoin and you should not worry about this. If you are entering the litecoin mining pool and you don't know how long your ROI.
November 05, 2019, 11:21:25 AM
the reason is because prices cannot go up. FOMO is over and there is no more speculation about the increase in litecoin prices. and maybe some of the miners are starting to turn to lucrative coins. one of them is bitcoin, next year bitcoin will experience halving and this might make a pump. so they began to prepare themselves early.
Hardly they directed their ASICs to Bitcoin as the last requires SHA-256 capable devices while Litecoin is mined by the SCRIPT ones. Is anyone clued in what is profitable to mine by the SCRIPT-asics right now?
November 05, 2019, 10:51:13 AM
the reason is because prices cannot go up. FOMO is over and there is no more speculation about the increase in litecoin prices. and maybe some of the miners are starting to turn to lucrative coins. one of them is bitcoin, next year bitcoin will experience halving and this might make a pump. so they began to prepare themselves early.
November 05, 2019, 10:21:52 AM
FOMO is already over. It's common on crypto. Once there is a big event upcoming for a certain coin/token. The hash rate is always increasing because miners are rushing in to mine that particular so that they will benefit from a possible price pump due to the FUD. Same scenario on what happened in Litecoin. Halving is over so miners are moving on again in different coin which will give them more profit than staying on litecoin with more difficulties to mine a block. So it's up to you to get the logic. 
yes you're right, it's because FOMO is over. and many miners began to turn to more profitable coins. after halving litecoin has not increased, while reward per block has decreased. this is the reason why hashes start to decrease. all because of profit, who wants to keep mining even though they don't get profit. November 05, 2019, 08:16:48 AM
this is normal behavior of old coins that cut their miner rewards in half. unlike bitcoin, altcoins do not have any usages so they have no demand. when the supply of them is cut in half (halving) the only effect of it is going to be on miners as they stop making money as they were before so they can't make ends meet and are forced to leave.
November 05, 2019, 07:41:41 AM
this is because the litecoin miners are 60% 'retail price sold'
by this it means 60% are hobbiests mining from home.
the wholesale priced miners(mining farms) continue to mine because they can afford to continue.. their costs are way way below $45 a coin so they can afford it.
but the hobbiests couldnt. their costs are higher(which was the junes 'demand' pump of ~$56 to try compensating to cover hobbists)
basically the hobbiests stopped mining when the ~$56 could not be sustained to cover mining costs and so they started buying the coin below $50 coz it was cheaper that way to obtain coin.
this leaves the 40% of farms now getting 100% of the reward. thus instead of farms only getting ~5 coin a block of the 12.5 reward due to only having 40% share of the network.. they get 100% meaning 12.5 coins a block. thus while the price per coins remains around the $40-$60 range they are getting $560(100% of 12.5) instead of $230(40% of 12.5) for doing the same work. all because the competition ran off
yp those remaining mining although the rward dropped, although the price didnt rise.. those remaining miners still make more due to hobbiests not making a profit an giving up too early
by this it means 60% are hobbiests mining from home.
the wholesale priced miners(mining farms) continue to mine because they can afford to continue.. their costs are way way below $45 a coin so they can afford it.
but the hobbiests couldnt. their costs are higher(which was the junes 'demand' pump of ~$56 to try compensating to cover hobbists)
basically the hobbiests stopped mining when the ~$56 could not be sustained to cover mining costs and so they started buying the coin below $50 coz it was cheaper that way to obtain coin.
this leaves the 40% of farms now getting 100% of the reward. thus instead of farms only getting ~5 coin a block of the 12.5 reward due to only having 40% share of the network.. they get 100% meaning 12.5 coins a block. thus while the price per coins remains around the $40-$60 range they are getting $560(100% of 12.5) instead of $230(40% of 12.5) for doing the same work. all because the competition ran off
yp those remaining mining although the rward dropped, although the price didnt rise.. those remaining miners still make more due to hobbiests not making a profit an giving up too early
November 05, 2019, 07:40:58 AM
Look at the hash rate chart, the trend is falling like a wrecking ball.
Any Litecoin trader/ miner here? Please explain to me if it is the right time to buy it and enter mining pool of Litecoin.
Source: https://bitinfocharts.com/comparison/litecoin-hashrate.html
Any Litecoin trader/ miner here? Please explain to me if it is the right time to buy it and enter mining pool of Litecoin.
Source: https://bitinfocharts.com/comparison/litecoin-hashrate.html
It's not hugely surprising. The amount of coins per block has halved. But the number of transactions (and hence fees) has not grown to compensate for the halving. And electricity bills continue to rise. So for some miners it becomes uneconomic and they drop out - and as a result the hash rate drops.
It's an interesting test case to see what happens to bitcoin next year when the next halvening happens.
November 05, 2019, 07:34:36 AM
FOMO is already over. It's common on crypto. Once there is a big event upcoming for a certain coin/token. The hash rate is always increasing because miners are rushing in to mine that particular so that they will benefit from a possible price pump due to the FUD. Same scenario on what happened in Litecoin. Halving is over so miners are moving on again in different coin which will give them more profit than staying on litecoin with more difficulties to mine a block. So it's up to you to get the logic.
I followed Litecoin for some time and I have an opinion that demand may return. What do you think about this?
November 05, 2019, 07:26:19 AM
If to be fair, Litecoin is the definition of a shitcoin. the only thing of value it represents it trying out code before using it with BTC. If Litecoin came out today, it would be laughed off the face of the planet. It probably would have died if Charlie didn’t get Coinbase to add it. in fact Litecoin is an unholy genetic clone of Bitcoin, with no reason to exist. It was abandoned by its parents, and will slowly starve to death.
Furthermore, the consensus mechanism simply wastes too much energy and value, and users aren't willing to pay that entire cost themselves once it's not subsidized by inflation. honestly this is the future of most proof of work currencies with a supply cap. now the question is: why won‘t the same happen to Bitcoin after the next halvening?
Furthermore, the consensus mechanism simply wastes too much energy and value, and users aren't willing to pay that entire cost themselves once it's not subsidized by inflation. honestly this is the future of most proof of work currencies with a supply cap. now the question is: why won‘t the same happen to Bitcoin after the next halvening?
November 05, 2019, 07:13:28 AM
1st, you've posted it on the wrong section. Move this now to Altcoin Discussion. As for the topic, I really expected that Litecoin will move positively because of the halving and thought of something the same for halving movements just as bitcoin but it seems that I were wrong with that. I don't mine and don't know the issues if there's any for the miners. But if hashrate is dropping, it means that it's not that too profitable for the vast miners and probably they're mining other coins now.
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November 05, 2019, 06:28:34 AM
Look at the hash rate chart, the trend is falling like a wrecking ball.
Any Litecoin trader/ miner here? Please explain to me if it is the right time to buy it and enter mining pool of Litecoin.
Source: https://bitinfocharts.com/comparison/litecoin-hashrate.html
I trade litecoin because the price of this coin is more stable than bitcoin, but I don't really understand fundamental news, so I don't really understand the effect of the news, I prefer to rely on technical analysis.Any Litecoin trader/ miner here? Please explain to me if it is the right time to buy it and enter mining pool of Litecoin.
Source: https://bitinfocharts.com/comparison/litecoin-hashrate.html
Can share some of your technical analysis on Litecoin? There is no such fundamental in news. It's a common factor in trading not only on crypto but to world market too.
TA will never predict when will the good/bad news will come. Let's say crypto is at its peak and the trend is really showing a bullish market. And then some bad news occur like China and USA totally
ban crypto. Do you think that TA will still applicable and the price will still pump despite of the news? Of course not. The BIG news always controls the price trends since it's tell
what's going on the social of crypto market.
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November 05, 2019, 05:33:57 AM
FOMO is already over. It's common on crypto. Once there is a big event upcoming for a certain coin/token. The hash rate is always increasing because miners are rushing in to mine that particular so that they will benefit from a possible price pump due to the FUD. Same scenario on what happened in Litecoin. Halving is over so miners are moving on again in different coin which will give them more profit than staying on litecoin with more difficulties to mine a block. So it's up to you to get the logic.
November 05, 2019, 05:19:53 AM
Look at the hash rate chart, the trend is falling like a wrecking ball.
Any Litecoin trader/ miner here? Please explain to me if it is the right time to buy it and enter mining pool of Litecoin.
Source: https://bitinfocharts.com/comparison/litecoin-hashrate.html
Any Litecoin trader/ miner here? Please explain to me if it is the right time to buy it and enter mining pool of Litecoin.
Source: https://bitinfocharts.com/comparison/litecoin-hashrate.html
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