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Topic: LTC! 1,000,714 kH/s!!!!! (Read 2611 times)

legendary
Activity: 1441
Merit: 1000
Live and enjoy experiments
December 02, 2012, 10:49:18 AM
#25
I really wouldn't celebrate... all the GPU btc mining escapees will blow your difficulty out of the water killing your mining profit margins. Difficulty is supposed to parallel price. Price does not go up just because miners are driving difficulty up.
And as expected, difficulty has now been driven past the point of profitability in no time Tongue

>>Current Difficulty   44.03956404
>>Next Difficulty Estimate   33.17737992

Which makes things more interesting.... if mining LTC makes no money or loses money, like right now, who is still mining?
   1. Botnet
   2. People with "free" electricity
   3. Diehard Litecoin fanatics
   ...

Whatever the answer is, it's a good sign, because it means the wildest hash rate oscillation is behind us,  making future 51% attacks near impossible. In other words, Litecoin is here to stay.
 
sr. member
Activity: 364
Merit: 250
December 01, 2012, 11:10:55 PM
#24
What was the hashrate last month this time?
hero member
Activity: 616
Merit: 500
December 01, 2012, 07:44:38 PM
#23
I really wouldn't celebrate... all the GPU btc mining escapees will blow your difficulty out of the water killing your mining profit margins. Difficulty is supposed to parallel price. Price does not go up just because miners are driving difficulty up.
And as expected, difficulty has now been driven past the point of profitability in no time Tongue

+1 and hashrate is down lol....no one saw that one coming  Roll Eyes Roll Eyes Roll Eyes

Hash rate went back down to about 1000 Gh. Did some of the large GPU farms decide that it wasn't worth it anymore, or was this a bot net test??

when profitability drops 70% overnight it is easy to see why some folk would shut down of move to another coin.

LTC has been been seeing 10-20% diff bumps and drops for months now...
legendary
Activity: 1484
Merit: 1026
In Cryptocoins I Trust
December 01, 2012, 07:16:08 PM
#22
I really wouldn't celebrate... all the GPU btc mining escapees will blow your difficulty out of the water killing your mining profit margins. Difficulty is supposed to parallel price. Price does not go up just because miners are driving difficulty up.
And as expected, difficulty has now been driven past the point of profitability in no time Tongue

+1 and hashrate is down lol....no one saw that one coming  Roll Eyes Roll Eyes Roll Eyes

Hash rate went back down to about 1000 Gh. Did some of the large GPU farms decide that it wasn't worth it anymore, or was this a bot net test??
legendary
Activity: 2492
Merit: 1473
LEALANA Bitcoin Grim Reaper
December 01, 2012, 05:54:26 PM
#21
I really wouldn't celebrate... all the GPU btc mining escapees will blow your difficulty out of the water killing your mining profit margins. Difficulty is supposed to parallel price. Price does not go up just because miners are driving difficulty up.
And as expected, difficulty has now been driven past the point of profitability in no time Tongue

+1 and hashrate is down lol....no one saw that one coming  Roll Eyes Roll Eyes Roll Eyes
-ck
legendary
Activity: 4088
Merit: 1631
Ruu \o/
December 01, 2012, 05:43:59 PM
#20
I really wouldn't celebrate... all the GPU btc mining escapees will blow your difficulty out of the water killing your mining profit margins. Difficulty is supposed to parallel price. Price does not go up just because miners are driving difficulty up.
And as expected, difficulty has now been driven past the point of profitability in no time Tongue
legendary
Activity: 2492
Merit: 1473
LEALANA Bitcoin Grim Reaper
November 30, 2012, 05:40:50 AM
#19
All those new miners only care about BTC...watch out for selling...doesn't look like much BTC is on the buy order side.  Cheesy
I'm glad you now concur with my previous speculation smoothie!  Cheesy Cheesy Cheesy

I predict the price of LTC will tank when ASICs arrive and GPU miners switch to litecoin.  It will be similar to when the merged mining of NMC started and bitcoin miners who acquired NMC just sold immediately, pushing the price down.  Currently, most people who mine LTC care about litecoin and hold some, but after ASICs hit, there will be many miners who are just looking for revenues in BTC or USD and will sell their mined litecoins immediately.

The only chance of a boost to litecoin price is if ASICs somehow destabilized the bitcoin network and there are credible risks of a 51% attack.

Litecoin isn't merge mined with bitcoin. Nuff said to debunk your speculation.

LOL your point only spoke of ASICs, not bitcoin halving. My point was due to the halving, not the arrival of ASICs, which aren't here yet.

Nice try, but you did not get me on this one.

Keep practicing oh little one.  Cheesy Cheesy Cheesy
hero member
Activity: 840
Merit: 1000
November 30, 2012, 04:03:45 AM
#18
All those new miners only care about BTC...watch out for selling...doesn't look like much BTC is on the buy order side.  Cheesy
I'm glad you now concur with my previous speculation smoothie!  Cheesy Cheesy Cheesy

I predict the price of LTC will tank when ASICs arrive and GPU miners switch to litecoin.  It will be similar to when the merged mining of NMC started and bitcoin miners who acquired NMC just sold immediately, pushing the price down.  Currently, most people who mine LTC care about litecoin and hold some, but after ASICs hit, there will be many miners who are just looking for revenues in BTC or USD and will sell their mined litecoins immediately.

The only chance of a boost to litecoin price is if ASICs somehow destabilized the bitcoin network and there are credible risks of a 51% attack.

Litecoin isn't merge mined with bitcoin. Nuff said to debunk your speculation.
legendary
Activity: 1420
Merit: 1010
November 30, 2012, 03:51:50 AM
#17
All those new miners only care about BTC...watch out for selling...doesn't look like much BTC is on the buy order side.  Cheesy

Yeah i'd expect the LTC price to drop once the new miners look to cash out ... will be a good time to buy Smiley
sr. member
Activity: 359
Merit: 250
November 29, 2012, 11:10:14 PM
#16
I decided to switch my gpu rig to litecoin just to try it last night (after the reward half it's currently not profitable for me to mine BTC) and I've been hanging around #13 on ozcoin's "top 30 hashrates" table.  I find it amusing since I'm only running 1x5850, 3x5850 and for whatever reason the 5850 is stuck underclocked so my mining power isn't anything special.  I'm mining at about 900khash/sec, which is apparently about 1/1000th of the total LTC network hash power.  Seems like LTC is still pretty small despite the BTC block reward halving. 
hero member
Activity: 770
Merit: 502
November 29, 2012, 02:36:01 PM
#15
Wow, highest I've ever seen it.

Network Hash Rate   1,173,026 kH/s
Next Difficulty Estimate   41.03240424
High: 0.0068 BTC

And highest I've seen ltc/btc price with btc being at 12.45.

Good stuff.
legendary
Activity: 2492
Merit: 1473
LEALANA Bitcoin Grim Reaper
November 29, 2012, 01:32:06 PM
#14
All those new miners only care about BTC...watch out for selling...doesn't look like much BTC is on the buy order side.  Cheesy
legendary
Activity: 1484
Merit: 1005
November 29, 2012, 11:26:54 AM
#13
I really wouldn't celebrate... all the GPU btc mining escapees will blow your difficulty out of the water killing your mining profit margins. Difficulty is supposed to parallel price. Price does not go up just because miners are driving difficulty up.

While this is true, I think GPU miners have lost some faith in BTC because of  ASIC delays and an ever rising difficulty (which may be related). In any case, it seems unlikely to me that enhanced adoption by miners will result in decreased prices.
legendary
Activity: 1204
Merit: 1001
RUM AND CARROTS: A PIRATE LIFE FOR ME
November 29, 2012, 10:11:30 AM
#12
Now: 1,442,507

Next Diff: 50
legendary
Activity: 1420
Merit: 1010
November 29, 2012, 09:17:12 AM
#11
BTC network was ~30GHash

now 24,616.6692 so 24.6GHash ..... wonder where the hashes have gone Tongue

http://bitcoincharts.com/
Network total - 29.940 Thash/s . What decrease are you talking about?

ok sorry i was looking on https://vircurex.com there it says the network is now 22THash
hero member
Activity: 535
Merit: 500
November 29, 2012, 09:06:59 AM
#10
BTC network was ~30GHash

now 24,616.6692 so 24.6GHash ..... wonder where the hashes have gone Tongue

http://bitcoincharts.com/
Network total - 29.940 Thash/s . What decrease are you talking about?
legendary
Activity: 1420
Merit: 1010
November 29, 2012, 08:52:52 AM
#9
BTC network was ~30GHash

now 24,616.6692 so 24.6GHash ..... wonder where the hashes have gone Tongue
legendary
Activity: 1204
Merit: 1001
RUM AND CARROTS: A PIRATE LIFE FOR ME
November 29, 2012, 08:23:30 AM
#8
1,195,949 kH/s
member
Activity: 66
Merit: 10
November 29, 2012, 07:45:26 AM
#7
At the current moment we passed 1,173.104 Smiley
legendary
Activity: 1204
Merit: 1001
RUM AND CARROTS: A PIRATE LIFE FOR ME
November 29, 2012, 07:22:33 AM
#6
1,150,595 KH/s
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