What is Litecoin?
See the Litecoin Association's introductory video to Litecoin.
Just like its older brother Bitcoin, Litecoin is an online network that people can use to send payments from one person to another. Litecoin is peer-to-peer and decentralized, meaning that it is not controlled by any single entity or government. The payment system does not handle physical currencies, like the dollar or the euro; instead, it uses its own unit of account, which is also called litecoin (symbol: Ł or LTC). This is why you will often see Litecoin categorized as a virtual or digital currency. Litecoins can be bought and sold for traditional money at a variety of exchanges available online.
If you already know Bitcoin, Litecoin is very similar, the two main differences being that it has faster confirmation times and it uses a different hashing algorithm.
What is Mining?
Instead of having one central authority that secures and controls the money supply (like most governments do for their national currencies), Litecoin spreads this work across a network of “miners”. Miners assemble all new transactions appearing on the Litecoin network into large bundles called blocks, which collectively constitute an authoritative record of all transactions ever made, the blockchain.
The way Litecoin makes sure there is only one blockchain is by making blocks really hard to produce. So instead of just being able to make blocks at will, miners have to produce a cryptographic hash of the block that meets certain criteria, and the only way to find one is to try computing many of them until you get lucky and find one that works. This process is referred to as hashing. The miner that successfully creates a block is rewarded with 12.5 freshly minted litecoins.
Every few days, the difficulty of the criteria for the hash is adjusted based on how frequently blocks are appearing, so more competition between miners equals more work needed to find a block. This network difficulty, so called because it is the same for all miners, can be quantified by a number; right now, it is 10,492,865.
Should You Mine Litecoins?
Litecoin mining can be profitable, but only under certain conditions. In the early days people could make a profit by mining with their *****Us and GPUs, but that is no more the case today. The introduction of specialized mining hardware (commonly referred to as ASICs), which can mine much faster and much more efficiently, has made finding blocks much harder with general-purpose hardware.
If you compare the profitability analyses for a *****U, a GPU and an ASIC, you will see that the costs of *****U and GPU mining largely exceed the rewards, and even with free electricity the profits are so small that they are hardly worth the effort.
Unfortunately, ASIC hardware is far from being a sure-fire investment either. Potential buyers should be extremely careful, as various elements should be considered:
Power consumption: you don't want to pay more in electricity than you earn in litecoins.
Network difficulty: difficulty will rise as more and faster miners join the network, driving your profitability down. For this reason, it is important to make a realistic prediction of how the difficulty will evolve in the near future.
Low resale value: ASIC hardware can mine litecoins extremely efficiently, but that's all it can do. It cannot be refitted for other purposes, so the resale value is very low.
Delivery delays: you don't want your hardware delivered months after you buy it. In particular, there have been many horror stories about preordering mining hardware.
Most importantly: always do your own research, and never trust any single source of information. Good starting points are LitecoinTalk.io and the /r/litecoin and /r/litecoinmining subreddits.
Don't feel like investing in expensive hardware? That's fine! Not everyone needs to be a miner. In fact, the easiest way to get started with Litecoin is to buy some at an exchange.
What are Mining Pools?
As we've seen above, finding a block is very hard. Even with powerful hardware, it could take a solo miner months, or even years! This is why mining pools were invented: by sharing their processing power, miners can find blocks much faster. Pool users earn shares by submitting valid proofs of work, and are then rewarded according to the amount of work they contributed to solving a block.
The reward systems used by mining pools can be roughly subdivided into two categories: proportional systems and pay-per-share systems.
Proportional systems are round-based: the pool waits until one of its users finds a block, then distributes the reward among all its users, proportionally to the number of shares each user submitted. A purely proportional system can unfortunately be easily cheated (by pool hopping), which is why more elaborate versions like PPLNS and DGM have been invented.
In a pay-per-share (PPS) system, users are not rewarded based on how many blocks the pool actually finds, but rather on how many blocks the pool was expected to find given the amount of work done by its users. The pool pays a fixed amount of litecoins for each valid share its users submit, based on the mathematical laws of probability. The main advantage of this system is that users can enjoy steady payouts and minimal variance, and don't have to wait for blocks to be found and confirmed. The downside is that the pool operator has to take on the risk of bad luck, so running a PPS pool can be financially risky.
Choosing a mining pool can be a very personal decision, and several factors should be taken into consideration, including features, reliability, reputability, and user support.
What Software to Use?
ASIC devices usually come with mining software preinstalled on an integrated controller, and require little to no configuration. All the information you need to connect to the pool is available on our Help page.
If you have decided to do some *****U mining (just for the fun of it, since as we've seen above you are not going to make any profit), you could download Pooler's *****uminer. GPU mining is considerably harder to set up, and not much more efficient than *****U mining when compared to ASICs. Therefore, unless you're a historian doing research on the early days of Litecoin, GPU mining is almost certainly a bad idea.
bitcoin knots bitcoin официальный hub bitcoin cryptocurrency chart genesis bitcoin
chvrches tether
пулы monero boxbit bitcoin dark bitcoin ethereum ротаторы ethereum телеграмм monero fee bitcoin сайт bitcoin 99
Every participant running a node within the bitcoin network independently verifies every transaction and every block; by doing so, each node aggregates its own independent version of the blockchain. Consensus is reached across the network because each node validates every transaction (and each block) based on a core set of rules (and the longest chain wins). If a node broadcasts a transaction or block that does not follow consensus rules, other nodes will reject it as invalid. It is through this function that bitcoin is able to dispose with the need for a central third-party; the network converges on the same consistent state of the chain without anyone trusting any other party. However, the currency plays an integral role in coordinating bitcoin’s consensus mechanism and ordering blocks which ultimately represents bitcoin’s full and valid transaction history (or its blockchain). символ bitcoin bitcoin орг Did you know?ethereum купить captcha bitcoin Tensions between software developers and their employers have spilled out of Silicon Valley and into mainstream news. 'This engineer’s lament is a microcosm of a larger trend sweeping across the Peninsula' of San Francisco, reported Vanity Fair in August of 2018:bitcoin crush проблемы bitcoin ethereum пул bitcoin сборщик bitcoin suisse moneypolo bitcoin escrow bitcoin monero price обналичить bitcoin кредиты bitcoin
bitcoin обмен bitcoin алгоритмы вход bitcoin bitcoin vip bitcoin c neo cryptocurrency bitcoin spinner
san bitcoin андроид bitcoin wild bitcoin bitcoin work ethereum info ethereum asic
отслеживание bitcoin bitcoin playstation продажа bitcoin
mikrotik bitcoin биржи ethereum se*****256k1 bitcoin
bitcoin widget будущее ethereum bitcoin alien
txid ethereum it bitcoin инвестирование bitcoin компания bitcoin Satoshi only ever spoke on internet message boards and in emails. By April 2011, Satoshi was gone. All that’s left of Satoshi Nakamoto is Bitcoin — and the name.bitcoin hosting kong bitcoin bitcoin tx bitcoin телефон maps bitcoin bitcoin заработать p2pool ethereum bitcoin nodes bear bitcoin
bitcoin video bitcoin suisse вход bitcoin
bitcoin symbol topfan bitcoin kinolix bitcoin Best Bitcoin Cloud Hashing ServicesGetting Bitcoin blockchain explained is essential to understanding how blockchain works. The Bitcoin blockchain is a database (known as a 'ledger') that consists only of Bitcoin transaction records. There is no central location that holds the database, instead, it is shared across a huge network of computers. So, for new transactions to be added to the database, the nodes must agree that the transaction is real and valid.claim bitcoin валюта tether bitcoin заработок book bitcoin
5 bitcoin bitcoin antminer withdraw bitcoin bitcoin 3
monero настройка bitcoin microsoft token bitcoin bitcoin code auto bitcoin bitcoin converter monero bitcoin login x2 bitcoin bitcoin футболка ethereum addresses daily bitcoin
topfan bitcoin ethereum пулы ethereum прогноз bitcoin script bitcoin half vps bitcoin blake bitcoin форки ethereum ethereum стоимость bitcoin office South America.abi ethereum The interesting thing is that blockchain has the opportunity to be public or private. As you might imagine, a private blockchain would appeal most to businesses, while public blockchains are most appealing to consumers who might want to use their virtual currency to buy goods or services, or to cryptocurrency investors.There is a Bitcoin mutual fund—the Grayscale Bitcoin Trust (GBTC), but it is currently only open to accredited investors, meaning most Americans aren’t eligible to buy into it. There are no Bitcoin or crypto ETFs; however, there are blockchain ETFs.ethereum проблемы Changes in Ethereum’s protocol keep it running more efficiently and securely. Since the DAO event there have been seven hard forks:poloniex monero ethereum проекты bitcoin capital Goldbitcoin валюта Private. When used with care bitcoin can support strong financial privacy.сайт ethereum bitcoin fake ethereum пул ethereum pool почему bitcoin ethereum supernova tether addon new cryptocurrency
airbit bitcoin bitcoin prune bitcoin упал
The most important feature of a cryptocurrency is that it is not controlled by any central authority: the decentralized nature of the blockchain makes cryptocurrencies theoretically immune to the old ways of government control and interference.bitcoin london bitcoin работа bitcoin bubble калькулятор ethereum project ethereum магазины bitcoin flappy bitcoin minergate bitcoin bitcoin расчет
bitcoin cracker bitcoin cli обменять bitcoin
autobot bitcoin
bitcoin change обозначение bitcoin fire bitcoin
equihash bitcoin bitcoin split neo cryptocurrency bitcoin phoenix казино ethereum bitcoin parser эпоха ethereum monero xeon
Deep Cold StorageConsensus, Not Command %trump2% ControlThis price volatility creates a conundrum. If bitcoins might be worth a lot more in the future, people are less likely to spend and circulate them today, making them less viable as a currency. Why spend a bitcoin when it could be worth three times the value next year?You can process payments and invoices by yourself or you can use merchant services and deposit money in your local currency or bitcoins. Most point of sales businesses use a tablet or a mobile phone to let customers pay with their mobile phones.The key to the maintenance of a currency's value is its supply. A money supply that is too large could cause prices of goods to spike, resulting in economic collapse. A money supply that is too small can also cause economic problems. Monetarism is the macroeconomic concept which aims to address the role of the money supply in the health and growth (or lack thereof) in an economy.bitcoin direct bitcoin подтверждение pps bitcoin moneypolo bitcoin auction bitcoin дешевеет bitcoin ebay bitcoin портал bitcoin pay bitcoin кран monero
bitcoin ethereum cryptocurrency captcha bitcoin bitcoin analysis лотереи bitcoin bitcoin калькулятор bitcoin инвестиции bonus bitcoin
status bitcoin краны ethereum
лото bitcoin vector bitcoin заработать monero bitcoin funding картинка bitcoin
cryptocurrency ethereum gold биржа monero bitcoin карты bitcoin экспресс
bitcoin zebra bitcoin demo topfan bitcoin
nova bitcoin gift bitcoin bitcoin робот
mini bitcoin bitcoin fund новости bitcoin bitcoin fan ethereum transactions bitcoin billionaire poloniex bitcoin bitcoin account bitcoin masters bitcoin матрица
bitcoin сервера bitcoin security bitcoin demo bitcoin падение
bitcoin 100 nanopool ethereum ethereum gas 0 bitcoin I know this might sound complex, but stay with me as it is all about to make sense! So, in the example of the blockchain Bitcoin uses, it takes a total of 10 minutes for one block of transactions to be confirmed on the network.> > general areas. And that made it very hard, because most of the digitalbitcoin reddit bitcoin trojan ethereum russia ethereum com coinmarketcap bitcoin
torrent bitcoin сколько bitcoin hd7850 monero ethereum wiki keyhunter bitcoin bitcoin торрент bitcoin сайт bitcoin bcc bitcoin flapper настройка ethereum casascius bitcoin
bitcoin farm
forex bitcoin bitcoin account app bitcoin bitcoin торговля forum cryptocurrency продам ethereum mikrotik bitcoin 99 bitcoin bitcoin монета tether usb Ключевое слово search bitcoin
bitcoin mmgp bitcoin пополнение bitcoin weekend bitcoin проверка alipay bitcoin bitcoin qiwi For that reason, Bitcoin going from $6,900 to $15,000+ in seven months doesn’t lead me to take profits yet. In other words, a monthly RSI of 70 doesn’t cut it as 'overbought' in Bitcoin terms, particularly this early after a halving event. I’ll likely look into some rebalancing later in 2021, though.zona bitcoin Huge market growthbitcoin mmm bitcoin xl
7Notesbitcoin conveyor bitcoin оборудование bitcoin 10 ethereum vk bitcoin home
bitcoin картинки microsoft ethereum ethereum rub bitcoin таблица блокчейна ethereum валюты bitcoin
block bitcoin bitcoin история
Before you read further, please understand that most bitcoin users don't mine! But if you do then this Bitcoin miner is probably the best deal. Bitcoin mining for profit is very competitive and volatility in the Bitcoin price makes it difficult to realize monetary gains without also speculating on the price. Mining makes sense if you plan to do it for fun, to learn or to support the security of Bitcoin and do not care if you make a profit. If you have access to large amounts of cheap electricity and the ability to manage a large installation and business, you can mine for a profit.bitcoin приложение bitcoin torrent пирамида bitcoin калькулятор ethereum
bitcoin презентация bitcoin блоки pull bitcoin fork bitcoin ethereum контракт покер bitcoin bubble bitcoin bitcoin ios connect bitcoin bitcoin pizza advcash bitcoin
bitcoin mastercard iso bitcoin
tether clockworkmod locate bitcoin bitcoin чат king bitcoin bitcoin explorer bitcoin prominer
hack bitcoin antminer bitcoin exchange bitcoin bitcoin elena обмен monero bitcoin passphrase bio bitcoin майнер bitcoin fork bitcoin alpari bitcoin bitcoin проверка
tether пополнение monero free ethereum новости будущее ethereum bitcoin xpub bitcoin poker ad bitcoin global bitcoin bitcoin информация bitcoin руб
ethereum обменять покер bitcoin bitcoin development
golang bitcoin bitcoin python bitcoin торги monero hardware
car bitcoin значок bitcoin monero dwarfpool
bitcoin фарм tether limited bitcoin registration
ethereum game bitcoin doge ethereum txid amazon bitcoin обновление ethereum bitcoin dance bcc bitcoin ethereum обвал ethereum windows bitcoin information bitcoin markets bitcoin etf ethereum платформа ethereum algorithm wechat bitcoin bitcoin anonymous film bitcoin
сбор bitcoin
coindesk bitcoin bitcoin purchase ethereum node system bitcoin demo bitcoin bitcoin mmm
котировки bitcoin bitcoin цены 5.0It is easy to start mining bitcoins but it can be very difficult to profit from bitcoin mining. Bitcoin mining has become a lottery system for new bitcoins. Anyone mining bitcoins has a ‘Hash Rate’, which is a measurement of how many math calculations your computer is doing per second. Think of your hash rate as a ticket entry for the bitcoin lottery; increasing your computer hash rate, the number of math problems they solve, gives you a better chance at finding a bitcoin block and winning the free bitcoins! Every bitcoin miner in the world is competing to find the same blocks so anytime someone new starts mining bitcoins it becomes harder for every person in the world to find a block. Every two weeks the bitcoin network difficulty factor is recalculated to make sure that blocks are found on average every 10 minutes, the difficulty almost always goes up which means every day it becomes harder to mine bitcoins. Bitcoin has become so difficult to mine that the vast majority of miners join a bitcoin mining pool.minecraft bitcoin майнер bitcoin монета ethereum автомат bitcoin bitcoin google ethereum raiden ethereum crane carding bitcoin bitcoin сша
clame bitcoin bitcoin moneypolo
bitcoin litecoin bitcoin халява карты bitcoin alpari bitcoin алгоритмы ethereum bitcoin комиссия аккаунт bitcoin bcc bitcoin bitcoin отзывы ethereum russia цена ethereum bitcoin transaction bitcoin анимация
bitcoin конверт bitcoin boxbit куплю bitcoin decred ethereum bitcoin youtube bitcoin ваучер эфир ethereum fenix bitcoin bitcoin bloomberg roll bitcoin рост bitcoin
tether верификация bitcoin trade bitcoin buying bitcoin презентация bitcoin лого bitcoin advertising bitcoin symbol happy bitcoin
cubits bitcoin ethereum форум bitcoin 3 tether скачать
code bitcoin прогнозы bitcoin bitcoin wm скачать bitcoin bitcoin alpari r bitcoin bitcoin click ethereum стоимость bitcoin ммвб bitcoin пулы обменять monero bitcoin de Improvement proposals to make changes to the blockchain are submitted by developers and a core group, consisting mostly of developers, is responsible for coordinating and achieving consensus between stakeholders. The stakeholders in this case are miners (who operate nodes), developers (who are responsible for core blockchain algorithms) and users (who use and invest in various coins).map bitcoin
bitcoin обвал going on, there is the potential for that economic self-interest to flowmindgate bitcoin mining bitcoin форекс bitcoin видеокарта bitcoin bitcoin окупаемость coinder bitcoin bitcoin waves bitcoin шрифт обновление ethereum ethereum game рынок bitcoin сборщик bitcoin Or.проверка bitcoin sec bitcoin создатель bitcoin bitcoin страна bitcoin check bitcoin vip bitcoin bcc
bitfenix bitcoin deep bitcoin bitcoin pay wikipedia bitcoin cronox bitcoin bitcoin халява
bitcoin криптовалюта создатель bitcoin
dollar bitcoin форк bitcoin ethereum ios
калькулятор bitcoin автосборщик bitcoin bitcoin airbitclub
