What is Litecoin mining? Learn all you need to get started.

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The table has "yield" units which seem to keep decreasing, they were once 0. Litecoin is also one of the alternate currencies the default pool in Bitcoin Miner can mine and exchange to Bitcoin. Additionally, I have watched the miner and each time I get fluctuated difficulty rate which is switching around and retracting the Satoshi values mined. Like I might go up to say But its not sending a high rejection.

Additionally why is the yield as you are indicating tied to the price of the coin. The price of the coin should have nothing to do with yield difficulty and hash rate would affect yield. Unless we are mining in an alternative currency and converting based on your logic below that is what you are stating.

And in turn I will state that if that is the case then why is the app called Bitcoin Miner and not Litecoin to bitcoin hash conversion miner. Complete waste of time and electricity with that 0. I suppose that the problem becomes from the less people that are mining more than the increased difficulty.

Also turnned mine off when i got home from work and seen i only farmed in 14 hrs complete waste of time went back to nice hash witch pays me around 50c a day. To make it easy: Bitcoin Miner's default pool is a multi-pool which means it has your miner mine whatever it can get you the best return on. The current Litecoin network difficulty is When you are getting yields of. A simple understanding would say that if Bitcoin price goes up 2x then yields should only go down by half, however if the pool algorithms have reserves and are betting that the price will go down, it can allow yields to temporarily stay higher than they should be.

When you additionally add in leverage, you can get situations where the pool payout yields higher than the face value over sustained periods of time, which then ends up being a cost that we end up paying. We've just sent you an email to. Click the link to create a password, then come back here and sign in. Vote Vote Vote Vote Sign in prestine.

Your email address Check! I agree to the terms of service. Signed in as Sign out. Please see the 9 month global difficulty growth: Yeah my yields are tanking bad. Thanks for the explanation. Now the yeld is back to 0. Let's take Litecoin as an example one of the Scrypt currencies - The current Litecoin network difficulty is Stratum the standardized mining protocol uses Scrypt hashes as a difficulty 1. To compute what a difficulty 1 share is worth at face value: Value of bitcoin certainly didn't go up by 3x and difficulty didn't just triple.

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For proof of work , Bitcoin uses the highly parallelizable SHA hash function, hence Bitcoin mining is an embarrassingly parallel task. Litecoin uses scrypt instead of SHA for proof of work. The scrypt hash function uses SHA as a subroutine, but also depends on fast access to large amounts of memory rather than depending just on fast arithmetic operations, so it is more difficult to run many instances of scrypt in parallel by using the ALUs of a modern graphics card.

See Litecoin mining hardware comparison and Bitcoin mining hardware comparison. These scrypt parameter still reduce the advantage of ASIC by a fold estimate, according to Colin Percival, the creator of scrypt [1] [2].

The difficulty of Litecoin adjusts so that a block is generated every 2. Myth - Point of sale with bitcoins isn't possible because of the 10 minute wait for confirmation.

The retarget block is in both Bitcoin and Litecoin, but because Litecoin blocks are found 4 times faster, the difficulty will retarget about every 3. The total number of litecoins that will come into existence is 4 times the total number of bitcoins that will come into existence, 84 million compared to 21 million.

The initial reward for each Litecoin block is 50 litecoins. The rate of litecoins generation is halved every , blocks, i. Since the total money supply of Litecoin is 4 times greater than the total money supply of Bitcoin, it implies that if 1 litecoin becomes worth more than 0.

One possible way to view Litecoin is as silver to Bitcoin's gold, in the sense that it is a relatively less valuable cryptocurrency that is easier to obtain and transact with. The properties that make Litecoin fit to accomplish this purpose can be summarized as follows:. Retrieved from " https: Navigation menu Personal tools Log in Request account. Views Read View source View history. This page was last edited on 12 February , at Content is available under Creative Commons Attribution unless otherwise noted.

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