Topic: [ANN] The First Litecoin PPS Pool (litecoinpool.org) - page 17. (Read 228113 times)

My assumption is that Bitmain has a new unit out...now if they we're smart they would NOT release it IMHO, and just mine like heck at these prices with their advantage of not only

cheap electric but also the fact the equipment likely ONLY cost them 20c on the $1 at most, on top of that! Thus with everyone else (90% of all scrypt-pow (LTC) miners that are

still profitable to run at say 8c or less kWh electric) they can also take advantage of the difficlulty drop ...so if I was them I'd skip this generation of miners and pound it...going

full evil and all)

BUT, they made so many other asic miners of many flavors, I doubt they don't have something on the shelf ready to go

again, the danger is IF they release the 'supposed' 3x miner at the same watts say...they will be the only one mining pow-scrypt....all the L3+'s or 90% of miners still hanging on

would shut off...also in that case (wanted or not) Bitmain would probably over the summer fill their data halls with such and then say pre-orders in the fall...the pow-scrypt

miners would then WATCH as Bitmain raised difficulty 30% of more over the summer while they filled their data hall with new equipment and pre-order stuff in the fall...thus

the L3+ would NEVER catch up ..thus if you want to mine scrypt-pow YOU'D HAVE TO START ALL OVER AS A PRE-ORDER WITH BITMAIN EQUIPMENT end of fall...

so if they were smart they would hold off on such a product...unless they really do want 51% of scrypt-pow and LTC and other crypto's which would be damn easy to do

IF they blew out the L3+ till end of fall, before you could get a equiv unit.

But monopolies always eat their young and go too far..thus it is possible the above is true and would ramp out with new equipment as above

just saying...for what I got in price for my miners and the advantages i had with equip/tax and other tricks..it was a no brainer, so I punted

evil is as evil does...I still think they are dumb enough to think they can own the scrypt-pow and LTC networks for the summer, blow out all the old products like the L3+

due to difficulty and expect the 'sheep' to line up and re-build scrypt-pow miners again from them as pre-orders in the fall....again with no other mnfg's owning 90% of market

rinse/wash/repeat

I don't think people are that dumb and will walk..but we will see....

brad

I started mining with some moonlanders (totally not profitable with a high initial cost, but they were fun), but recently moved up to a Innosilicon A4+ and am pretty happy so far. Do you know for sure that there is a new machine coming out from Bitmain? Innosilicon seems to have the edge with hashrate efficiency for the time being, so its odd to see that Bitmain still is so dominant in the LTC space with their L3+. The difficulty seems to be pretty even lately, so what makes you think that Bitmain is up to their old tricks (and boy do they have a terrible reputation at that...). With the prices where they are, I assumed that the market is just saturated with machines and there isn't a huge incentive to come out with new hardware unless the price goes up a bit. Would love to hear more about your thoughts on it whole thing.

Pooler, how is the state of litecoinpool in terms of financial stability? I am hoping that it is making a nice profit to help keep the lights on and you interested in continuing its development!

Thank you, Brad! (I also got your message on IRC, sorry I wasn't around to answer.)

Hey Pooler,

I sold my 8,000mh of Bitmain L3's and L3+ scrypt-pow miners, so I'm off the pool. Thanks for the run. Back in the day I think I got as high as 25 on all time list and was 2 on the

daily list for a while....I made 12,700 some LTC on your pool and should have kept them ALL.....(sigh) like 99.99998% or so of LTC holders, before April 2017 when LTC was $4.15 usd

and below...I swap'd for BTC or spent it....alas...

anyway, with Bitmain controlling about 51% of the pools for BTC and 90% of scrypt-pow miners that are still mining.. and soon will be at 51% for a lot of scrypt-pow coins like LTC, I doubt I

will be back to scrypt-pow and LTC.

Bitmain has a method where they will mine the summer, IMHO, with NEW EQUIPMENT, supposedly, at 3x the speed now and the same power, more or less and as a 4 month or so pre-order

thus the game is they will further run the difficulty up 30% or more over the summer before you could even get their units..if this is the case (again IMHO)

Thus with 90% of LTC miners and scrypt-pow now being Bitmain L3 and L3+ units...IF they all have to shut off...I really, really doubt I'm gonna play Bitmain's game

and start from scratch with new units as a pre-order in the fall.

Thus a lot of folk on your pool may move on unless some competitor comes in and stifles Bitmain...but alas it is looking a lot like 2014 when small fry BTC miners went the

way of the dodo

anyway, what I see coming down the pike this summer..so I took the $$$ and ran like heck!

anyway, hopefully, I'm wrong..but my logic on what I see as MORE than a bit of 'centralization' on Bitmain's part of scrypt-pow and LTC at least for the next 6 months

anyway, thanks for the pool...if it ever makes sense to come back ..I will simply fire up my account and start it up again

brad

Interesting to see that at this current difficulty and the price of litecoin. Everyone is losing money. I wonder how long people can afford to continue mining and losing money.

Done.

Hey guys firstly great pool. secondly could you kindly add ZAR South Africa Rand to the currency list please.

Done!

RTFM

Ouch that hurt. All I was asking was a simple question and all I get from you is an insult.

I'm not sure you understand how PPS works at 101% reward, litecoinpool pays miners all 100% of the 25 LTC reward and then an extra 1%. This extra 1% (and litecoinpool's profit) comes from merge mining several other coins.

I have run some experiments solo mining to compare the rewards earned to what litecoinpool pays out and I can safely say it is paying out correctly.

Also, unless you've run a pool at the scale of litecoinpool.org, you can't begin to estimate the cost. You're clearly experiencing symptoms of the Dunning-Kruger effect.

Any chance you could add Canadian dollars as a Main Currency in the account settings.

OK. Thanks for warning. I was thinking mining_proxy help me with the issue using minerd

That looks like a DNS issue on your side.

At any rate, are you sure that you want to use a Stratum proxy? Normally that only makes sense if you have a very high number of miners and bandwidth constraints.

Finally, since your post suggests you may be trying to mine with CPUs: don't do that. Trying to mine Litecoin without specialized hardware is a waste of time.

Hello! I recently joined to litecoinpool.org and I have some issues, but when I click “Forum” it sends mi to bitcointalk.org, and I am beginner about virtual currencies. I need help with: a problem configuring mining_proxy or a problem is access connection to litecoinpool?

C:\zyx\Minerd-CPU>mining_proxy -o us.litecoinpool.org -p 3333 -t -v
2018-05-16 10:49:35,278 DEBUG stats logger.get_logger # Logging initialized
2018-05-16 10:49:35,289 DEBUG protocol logger.get_logger # Logging initialized
2018-05-16 10:49:35,290 DEBUG socket_transport logger.get_logger # Logging initialized
2018-05-16 10:49:35,322 DEBUG proxy logger.get_logger # Logging initialized
2018-05-16 10:49:35,322 DEBUG proxy logger.get_logger # Logging initialized
2018-05-16 10:49:35,322 DEBUG proxy logger.get_logger # Logging initialized
2018-05-16 10:49:35,323 DEBUG proxy logger.get_logger # Logging initialized
2018-05-16 10:49:35,323 DEBUG proxy logger.get_logger # Logging initialized
2018-05-16 10:49:35,323 DEBUG proxy logger.get_logger # Logging initialized
2018-05-16 10:49:35,323 DEBUG proxy logger.get_logger # Logging initialized
2018-05-16 10:49:35,323 DEBUG proxy logger.get_logger # Logging initialized
2018-05-16 10:49:35,325 WARNING proxy mining_proxy.main # Stratum proxy version: 1.5.2
2018-05-16 10:49:35,325 WARNING proxy mining_proxy.main # Trying to connect to Stratum pool at us.litecoinpool.org:3333
2018-05-16 10:49:47,328 DEBUG socket_transport socket_transport.clientConnectionFailed # [Failure instance: Traceback (failure with no frames): : None: address 'us.litecoinpool.org' not found: [Errno 11001] getaddrinfo failed.
]
2018-05-16 10:49:57,809 DEBUG socket_transport socket_transport.clientConnectionFailed # [Failure instance: Traceback (failure with no frames): : None: address 'us.litecoinpool.org' not found: [Errno 11002] getaddrinfo failed.
]
Unhandled error in Deferred:
Unhandled Error
Traceback (most recent call last):
Failure: stratum.custom_exceptions.TransportException: SocketTransportClientFactory connection timed out
2018-05-16 10:50:17,255 DEBUG socket_transport socket_transport.clientConnectionFailed # [Failure instance: Traceback (failure with no frames): : None: address 'us.litecoinpool.org' not found: [Errno 11002] getaddrinfo failed.
]
2018-05-16 10:50:46,377 DEBUG socket_transport socket_transport.clientConnectionFailed # [Failure instance: Traceback (failure with no frames): : None: address 'us.litecoinpool.org' not found: [Errno 11002] getaddrinfo failed.
]
2018-05-16 10:50:50,661 INFO proxy mining_proxy.on_shutdown # Shutting down proxy...
¿Desea terminar el trabajo por lotes (S/N)?

On average litecoinpool find the most blocks I have ever seen. Just wish the miners could get some of that rewards. Not the whole 25 LTC but maybe 50%. Would certainly help the little guys trying to mine. I understand the pool needs money to operate but 5 grand , Just on may 10 2018, Litecoinpool found 14 blocks so that 56,000 US dollars.

Gone are the days where you will make a lot mining unless you have 100+ machines. Until Bitmain comes out with a better miner, the L3+ is the best for mining scrypt coin. The difficulty keeps getting higher mining Litecoin. So, you will be lucky to make $2.00 /day if you mine it directly. You would be better off mining a different scrypt coin directly like Verge or Gamecredits. Or, sell your hashing power to nicehash and you will make $5 to $7 /day.

Either the value of Litecoin needs to increase or we get a faster miner to make mining Litecoin worth it.

Anyone wanna take a guess at what how much of a litecoin a 500 mh/s Antminer L3+ will be mining in 6 months? I bet it's only going to be .2 of a litecoin.  If the network hash rate keeps on going up at its current rate without any sort of price movement, then this coin is going to be put in to its grave.  You would think that a huge increase in mining would at some point equate to an increase in purchasing demand as well, but that hasn't even come close to happening.  Maybe it will once new people decide that the best way to get litecoin is to purchase instead of mine.

One theory on the whole market is that purchasing with a credit/debit card was the easy and quick way to get in to the market, and now that all the major card company's have almost banned purchasing with them the lack of new entrants in to the market has dried up and there is no new money coming in. Or at least it takes a lot longer for that new money to enter the market since impulse buying of crypto's is a lot harder since it either needs to be bank or wire transfer.

Anyways hope we get some price movement!

https://steemit.com/pooler/@qanon1111/deep-analysis-degoo-litecoinpool-minercircle-a-comparission-of-pools-and-how-individuals-are-using-webmining-gives-100gb-cloud

[/quote]

I've not run any of the S9's but the Bitmain software is the same between my RT1-LTC, D9's & L3+'s so safe bet would be yes...

On a side note, where's a good place to point D9's for BTC?

Good Luck, and welcome to the Lite Side!

[/quote]

Thanks!

I have been mining on Kano pool and had good luck and great support in the Forum.   The use PPLNS and use 5ND for ramping up and down.

In short, miner goes down, pool hits a block, you still share in the rewards..

I am very happy there and rewards are the best of anywhere I have found...  I've tried Antpool and Slujshpool then found Kano pool and never went anywhere else...

They are not the biggest, but in my opinion they are the best....

PM me if you have any questions..