I think Litecoin will recover.
Allow me to correct that for you. No charge.
I think hope Litecoin will recover.
Topic: litecoin dead ? - page 31. (Read 49337 times)
Allow me to correct that for you. No charge.
I think Litecoin will recover.
I will never understand why all the bitcoin nuts insist that every other coin is shit.
I don't think that's true. Problem is there are so many scammy (pre / insta) mined coins floating around, the good coins inevitably get tarred with the same brush.
how does this forum not have a FUD section for threads like this?
here's my thoughts on the issue... the crypto scene should be handled as though it were a stock market. if you make a poorly timed investment, you're gonna lose money. but seeing as most of us mine our coins, they didn't cost us much in the first place. so why get all uppity.
I will never understand why all the bitcoin nuts insist that every other coin is shit.
here's my thoughts on the issue... the crypto scene should be handled as though it were a stock market. if you make a poorly timed investment, you're gonna lose money. but seeing as most of us mine our coins, they didn't cost us much in the first place. so why get all uppity.
I will never understand why all the bitcoin nuts insist that every other coin is shit.
They are intimidated by LTC, imagine this..when LTC gets added to gox/btcchina/bitstamp/coinbase/payment processors coming etc.., many BTC holders would also trade LTC and many merchants would use LTC, this causes the BTC bubble to pop if not delayed and it's a danger for some these fanatic BTC/other alt coin bagholders
how does this forum not have a FUD section for threads like this?
here's my thoughts on the issue... the crypto scene should be handled as though it were a stock market. if you make a poorly timed investment, you're gonna lose money. but seeing as most of us mine our coins, they didn't cost us much in the first place. so why get all uppity.
I will never understand why all the bitcoin nuts insist that every other coin is shit.
here's my thoughts on the issue... the crypto scene should be handled as though it were a stock market. if you make a poorly timed investment, you're gonna lose money. but seeing as most of us mine our coins, they didn't cost us much in the first place. so why get all uppity.
I will never understand why all the bitcoin nuts insist that every other coin is shit.
On GPU, mining the most profitable scrypt coins is about 4-6x more profitable than mining BTC even when you factor in the merge coins.
I specifically said on GPU
It doesn't take power costs into account at all, it is a simple profit per hash calculation. It's only possible to mine scrypt on certain devices, and on those devices, power costs are practically identical and mining scrypt is 4-6x as profitable as mining bitcoin. Period. Whether merged mining is done or not.
On GPU, mining the most profitable scrypt coins is about 4-6x more profitable than mining BTC even when you factor in the merge coins.
I specifically said on GPU
The LTC bashers are intimidated by it because LTC can play a role in popping the BTC bubble they are holding on to, most of them are kids with not even a reasonable amount of BTC/wealth. You make a bad name of bitcoiners. The big guys are actually pretty positive about LTC. Grow up tbh
some people seem to think if they attack ltc it will make the alts they hold go up... i seem to think that if ltc goes up, the other alts might have a shot. anyway thats why i hold a small amount of xpm.
why you hold xpm? because there is a banker behind?
On GPU, mining the most profitable scrypt coins is about 4-6x more profitable than mining BTC even when you factor in the merge coins.
I specifically said on GPU
If Litecoin was Dead then why are alt coins being traded against it on www.cryptsy.com .
Because it's worth so much less than bitcoin... so people could trade all the crap coins that are worth less than a satoshi. On GPU, mining the most profitable scrypt coins is about 4-6x more profitable than mining BTC even when you factor in the merge coins.
Litecoin started dying when people switched from mining btc. That created too much supply. This was pretty much foreseeable.
This is a good point. It seems sensible to think that the entire GPU-mining economy switching from BTC to LTC would skew the market. I mean, who's gonna buy all those coins? You can't do anything with litecoin except speculate -- and with a seemingly never-ending supply of coins from all the GPU miners (and a much higher inflation rate than BTC to begin with), why would you buy in?The number of coins produced per day has nothing to do with the number of people mining. Difficulty changes ensure that the coin production rate is constant.
This is pretty basic stuff.
But with people flocking in - difficulty rises, and shares are more and more divided, and then people start to lose perspective and interest in continuing. That's my point.
? That is not what is going on with BTC. As difficulty goes up price seems to follow. Interest in BTC is growing as well.
Lol, Vlad, I can only think of 2 coins that are currently merge mined with BTC. The main one being NMC. Scrypt coins can be merge mined as well. The big problem is no one is bothering. Just like no one is jumping to merge mine all the SHA-256 coins with BTC.
Mining BTC for profit is no longer an option for 99% of people. It has gone big business. You need to pump in tens of thousands of dollars to even have a hope of making a sliver of money before the difficulty sucks that dry as well. Not long ago (a few months) a 5 GH/s ASIC could net you a $100 a day. Now it can make you about $0.30. A 50 GH/s ASIC might bring in $3-4 a day, and those will cost you around $2500. Before long those $2500 machines will be bringing in $0.30/day. It's an endless power struggle, with the only ones profiting being the companies making the devices.
ASICs are not going to save LTC, or any of the other scrypt alt-coins. If anything it's a death sentence for them. ASIC's also don't make a coin any more secure. If anything it weakens them, as the majority of hashrate is held by a handful of people. The actual hashrate means absolutely nothing in terms of security. It's all in splitting the hashrate to as many people as possible to make it more secure. If I wanted to attack BTC (IE if I was the US gov't, or some other large entity that wanted to knock it out), All I would do is show up at ASICMINER and a few other large entities with a few military, and tell them their ASIC's are now ours or they would be killed, and you could easily 51% attack it. Lol, now see what it would take to take down something like LTC. It would take actual machines, as the hashrate is spread out so much that taking out a few large miners would probably only net you 5% of the network hashrate. Not to say it can't be done, it's just not quite as easy.
As I said before, LTC's biggest problem right now is over half the hashrate is held by ex-BTC miners, who hold no interest in LTC, other then to sell it for BTC. When the BTC price rises, they dump every coin they have for BTC. This crashes the price. As their mining rigs get older\slower, I doubt they will buy new rigs, as they will probably be using the cash to buy more ASIC's for BTC, so eventually the Scrypt coins will strengthen. But in the meantime anyone who mines\uses any altcoin is at the mercy of the sellers for the market prices.
Mining BTC for profit is no longer an option for 99% of people. It has gone big business. You need to pump in tens of thousands of dollars to even have a hope of making a sliver of money before the difficulty sucks that dry as well. Not long ago (a few months) a 5 GH/s ASIC could net you a $100 a day. Now it can make you about $0.30. A 50 GH/s ASIC might bring in $3-4 a day, and those will cost you around $2500. Before long those $2500 machines will be bringing in $0.30/day. It's an endless power struggle, with the only ones profiting being the companies making the devices.
ASICs are not going to save LTC, or any of the other scrypt alt-coins. If anything it's a death sentence for them. ASIC's also don't make a coin any more secure. If anything it weakens them, as the majority of hashrate is held by a handful of people. The actual hashrate means absolutely nothing in terms of security. It's all in splitting the hashrate to as many people as possible to make it more secure. If I wanted to attack BTC (IE if I was the US gov't, or some other large entity that wanted to knock it out), All I would do is show up at ASICMINER and a few other large entities with a few military, and tell them their ASIC's are now ours or they would be killed, and you could easily 51% attack it. Lol, now see what it would take to take down something like LTC. It would take actual machines, as the hashrate is spread out so much that taking out a few large miners would probably only net you 5% of the network hashrate. Not to say it can't be done, it's just not quite as easy.
As I said before, LTC's biggest problem right now is over half the hashrate is held by ex-BTC miners, who hold no interest in LTC, other then to sell it for BTC. When the BTC price rises, they dump every coin they have for BTC. This crashes the price. As their mining rigs get older\slower, I doubt they will buy new rigs, as they will probably be using the cash to buy more ASIC's for BTC, so eventually the Scrypt coins will strengthen. But in the meantime anyone who mines\uses any altcoin is at the mercy of the sellers for the market prices.
Litecoin started dying when people switched from mining btc. That created too much supply. This was pretty much foreseeable.
Supply (or more correctly rate of production) is regulated by difficulty. 1 miner or 100,000 miners roughly the same amount of coins get mined.
If Litecoin was dead then why is it being traded against for various alt coins on www.cryptsy.com ? Litcoin is Silver to Bitcoins Gold. 89 Million Coins to Bitcoins 21 Million. The Naysayers of Litecoin are usually Millionaires in Bitcoin.
Well, it wasn't date when cryptsy added them. Now if they are dead then cryptsy would happy to remove them
If Litecoin was dead then why is it being traded against for various alt coins on www.cryptsy.com ? Litcoin is Silver to Bitcoins Gold. 89 Million Coins to Bitcoins 21 Million. The Naysayers of Litecoin are usually Millionaires in Bitcoin.
Litecoin started dying when people switched from mining btc. That created too much supply. This was pretty much foreseeable.
How does the supply of Litecoins increase exactly when the output algorithm spits out the same amount of Litecoins whether there's 1,000 miners or 100,000 miners?
If anything, more miners meant more secure network and thus a higher Value for LTC.
The exact opposite is gonna kill it. People see no point mining one shitty coin when they can mine Bitcoin and a other 6 merge mined shitcoins for free. Why mine 1 when you can mine 7 coins with the same gear and those merge mined coins will just keep growing as more sha coins add the merge mine patch.
This is like 1st grade math but so many of you wanna believe LTC is the next big turd that you're willing to lie to yourselves all the way down to ZERO.
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