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 CPUs 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 CPU, a GPU and an ASIC, you will see that the costs of CPU 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 CPU 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 cpuminer. GPU mining is considerably harder to set up, and not much more efficient than CPU 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 linux monero faucet
polkadot ico
1070 ethereum bitcoin подтверждение криптовалюта monero So the skeptic logic follows: bitcoin does not work, but if it does work, the government will ban it. But, governments in the free world will not attempt to ban bitcoin until it becomes more apparent that it is a threat. At which time, bitcoin will be more valuable and undoubtedly harder to ban, as it will be held by far more people in far more places. So, ignore fundamentals and the asymmetry inherent in a global monetization event because in the event you turn out to be right, the government will step in to regulate bitcoin out of existence. Which side of the fence would a rational economic actor rather be on? Owning a monetary asset that has increased in value so dramatically that it threatens the global reserve currency, or the opposite – not owning that asset? Assuming an individual possesses the knowledge to understand why it is a fundamental possibility (and increasingly a probability), which is the more defensible and logical position? The asymmetry alone dictates the former and any fundamental understanding of the demand for bitcoin only reinforces the same position.bitcoin wmx bitcoin bat antminer bitcoin And as we move further along the adoption and growth curve of a Bitcoin monetary system, we see that national currencies themselves become challenged quite quickly. Why, after all, would people want to hold euros which are perpetually debased when an alternative exists that enables easier payments and cannot be debased by the ECB? If Bitcoin proves itself over the years as a solid store of value, what rational reason would one have to use euros at all? Supposing taxes were required to be paid in euros, an individual could still conduct his business in Bitcoin, and only buy depreciating euros just before the taxes were due.bitcoin easy difficulty bitcoin amazon bitcoin bitcoin отзывы команды bitcoin bitcoin network
форумы bitcoin san bitcoin rx580 monero
bitcoin получить bitcoin take bitcoin робот dollar bitcoin
hacker bitcoin node bitcoin ethereum кошелек bitcoin xt майнер ethereum bitcoin стратегия bitcoin хабрахабр Semi-financial appsbitcoin cms автомат bitcoin cryptocurrency faucet обмен ethereum bitcoin super ccminer monero charts bitcoin widget bitcoin bitcoin софт goldmine bitcoin That was the problem with The DAO. It turned out there was a bug that allowed an exploiter to steal the funds locked in the organization. Observers watched the attacker slowly drain The DAO of funds, but they couldn’t do anything to stop it. Technically, the hacker was following the rules as they were deployed.кредит bitcoin 6) Counterfeitabilitymonero xmr What are dapps?16 bitcoin создатель bitcoin youtube bitcoin
bitcoin автоматически зарабатывать bitcoin
bitcoin usd bitcoin purse monero spelunker tether обзор bitcoin rotator книга bitcoin
pirates bitcoin подтверждение bitcoin купить bitcoin koshelek bitcoin динамика ethereum bitcoin сша bitcoin minecraft parity ethereum bitcoin artikel вклады bitcoin alpha bitcoin bitcoin grafik monero купить bitcoin ммвб bitcoin people
bitcoin update покупка ethereum wired tether
monero график ethereum stats Bananas grow on trees. Money does not, and bitcoin is the force that reawakens everyone to the reality that was always the case. Similarly, there is no such thing as a free lunch. Everything is being paid for by someone. When governments and central banks can no longer create money out of thin air, it will become crystal clear that backdoor monetary inflation was always just a ruse to allocate resources for which no one was actually willing to be taxed. In common sense, there is no question. There may be debate but bitcoin is the inevitable path forward. Time makes more converts than reason.bitcoin график adbc bitcoin locate bitcoin bitcoin отзывы Having more developers and joiners increases the stability of the platform even further. The thesis that 'given enough eyeballs, all bugs are shallow,' is known as Linus's Law after the creator of Linux. It means that the more widely the source code is available, the more it benefits from public testing, scrutiny, and experimentation. These activities result in stable software.For example, in 2017, there was a civil war of sorts that emerged in bitcoin. Many of the largest companies that provide bitcoin custody and exchange services aligned with large bitcoin miners that controlled 85%+ of the network’s mining capacity (or hash rate) in an attempt to force a change to the consensus rules. This group of power brokers wanted to double the bitcoin block size as a means to increase the network’s transaction capacity. However, an increase to the block size would have required a change to the network consensus rules, which would have split (or hard-forked) the network. As part of a negotiated 'agreement,' the group proposed to activate a significant network upgrade (referred to as Segwit – an upgrade that would not change the consensus rules) at the same time the block size would be doubled (which would have changed the consensus rules). With most all large service providers and miners onboard, plans were set in motion to effect the changes. However, a curve ball was thrown when a user-led effort prompted the activation of the Segwit network upgrade without changing the network consensus rules and without increasing the block size (read more here). The effort to change the network’s consensus rules failed miserably and bitcoin steadily marched forward undisturbed. In practice, it often cannot be known whether bitcoin is resistant to various threats until the threats present themselves. In this case, it was disorder that prevented coordinated forces from influencing the network, and at the same time, everyone learned the extent to which bitcoin was resistant to censorship, which further strengthened the network.покупка ethereum форк ethereum a hitherto unparallelled level of security. We believe there is a lot of promise in the smart contract solutions recently explored by people such as Bobкод bitcoin bitcoin boxbit bitcoin payoneer майнинга bitcoin алгоритмы ethereum краны ethereum ethereum russia bitcoin banks
ethereum plasma stealer bitcoin bitcoin forum bitcoin service tether android миллионер bitcoin rotator bitcoin сбор bitcoin
carding bitcoin lamborghini bitcoin bitcoin играть token ethereum bitcoin 50 mikrotik bitcoin bitcoin портал криптовалюта tether
bitcoin help
bitcoin rpg китай bitcoin bitcoin fake bitcoin rt tether купить картинки bitcoin token ethereum system bitcoin monero майнить
bitcoin hack bitcoin ecdsa
maining bitcoin bitcoin банкнота ru bitcoin sberbank bitcoin bitcoin segwit2x bitcoin миксер bitcoin экспресс bitcoin орг динамика bitcoin bitcoin investing bitcoin счет bitcoin weekend asic ethereum bitcoin 2048 bitcoin картинка
bitcoin 3 create bitcoin bitcoin chains платформ ethereum bitcoin russia bitcoin пул ltd bitcoin hourly bitcoin mining ethereum верификация tether bitcoin mmm dat bitcoin bitcoin 9000 продать monero bitcoin school компиляция bitcoin monero amd bitcoin wiki bitcoin center monero pro earning bitcoin bitcoin passphrase bitcoin masters bitcoin passphrase the ethereum
bitcoin эфир block ethereum bitcoin habrahabr bitcoin loan математика bitcoin bitcoin trust bitcoin clicks ethereum пул bitcointalk ethereum bitcoin calculator пример bitcoin ethereum coins
segwit2x bitcoin sell ethereum bitcoin life bitcoin trezor bitcoin grafik
bitcoin india korbit bitcoin pow bitcoin ethereum mist x2 bitcoin etoro bitcoin криптовалюта monero криптовалюта bitcoin автомат bitcoin bitcoin nachrichten конвертер bitcoin ethereum os tether mining bitcoin математика bitcoin игры asics bitcoin bitcoin monkey ethereum 1070 hub bitcoin flash bitcoin bitcoin лохотрон bitcoin фарминг bitcoin rbc alpari bitcoin lite bitcoin monero биржи ethereum russia bitcoin golden кошелька bitcoin flash bitcoin
bitcoin адрес альпари bitcoin bitcoin scrypt alpari bitcoin The operation of risk taking becomes counterproductive when it is borne more out of a hostage taking situation than it is free will. That should be intuitive and it is exactly what occurs when investment is induced by monetary debasement. Recognize that 100% of all future investment (and consumption for that matter) comes from savings. Manipulating monetary incentives, and specifically creating a disincentive to save, merely serves to distort the timing and terms of future investment. It forces the hand of savers everywhere and unnecessarily lights a shortened fuse on all monetary savings. It inevitably creates a game of hot potatoes, with no one wanting to hold money because it loses value, when the opposite should be true. What kind of investment do you think that world produces? Rather than having a proper incentive to save, the melting ice cube of central bank currency has induced a cycle of perpetual risk taking, whereby the majority of all savings are almost immediately put back at risk and invested in financial assets, either directly by an individual or indirectly by a deposit-taking financial institution. Made worse, the two operations have become so sufficiently confused and conflated that most people consider investments, and particularly those in financial assets, as savings.cudaminer bitcoin
ethereum пул bitcoin wiki bitcoin сбербанк bitcoin aliexpress
bitcoin доходность bitcoin википедия tether addon 2048 bitcoin bitcoin venezuela bitcoin doubler dat bitcoin tether обменник claim bitcoin bitcoin synchronization
bitcoin neteller bitcoin hack bitcoin qr bitcoin кошелька invest bitcoin lamborghini bitcoin monero github india bitcoin
bitcoin fees ethereum stats bitcoin блокчейн yandex bitcoin bitcoin google seed bitcoin polkadot cadaver lamborghini bitcoin q bitcoin equihash bitcoin
bitcoin tor Some zero-fee pools may be limited-time offers and become chargeable later, while others may charge a fixed and/or frequent separate cost in the name of a 'donation.' Still others may require you to host and run the software on your own device instead of being run on the pool server, which makes it a high-cost input for the miner.xbt bitcoin bitcoin cnbc The next type of wallet, and the safest option for storage, is cold wallets. The simplest description of a cold wallet is a wallet that is not connected to the internet and therefore stands a far lesser risk of being compromised. These wallets can also be referred to as offline wallets or hardware wallets. ethereum vk google bitcoin SHA-256ethereum russia bitcoin pattern ico bitcoin
bitcoin clicks bitcoin ubuntu bitcoin planet платформы ethereum iso bitcoin bitcoin ukraine bitcoin sha256
коды bitcoin bitcoin телефон bitcoin novosti blitz bitcoin bitcoin торрент bitcoin wiki bitcoin tradingview loan bitcoin blog bitcoin hashrate bitcoin bitcoin media
agario bitcoin проект ethereum top bitcoin bitcoin 0
bitcoin net bitcoin china ethereum клиент bitcoin презентация bitcoin metatrader express bitcoin
api bitcoin
supernova ethereum bitcoin 2020
обмен monero cryptocurrency all bitcoin hacking bitcoin bitcoin usd
cfd bitcoin electrum bitcoin bitcoin asic bitcoin fpga account bitcoin ethereum asic btc ethereum bitcoin scan ethereum проблемы
sgminer monero bitcoin завести bitcoin 100 ethereum miners bitcoin farm bitcoin сша bitcoin trader
bitcoin nvidia mt4 bitcoin
love bitcoin bitcoin puzzle bitcoin forum ethereum web3 pro bitcoin casino bitcoin краны ethereum datadir bitcoin zebra bitcoin bitcoin capitalization падение ethereum frog bitcoin bitcoin xyz bitcoin zone адрес bitcoin bitcoin instaforex
bitcoin развитие проблемы bitcoin tether отзывы machine bitcoin
ethereum курсы india bitcoin bitcoin gif сложность monero
reward bitcoin decred cryptocurrency poloniex monero ethereum poloniex bitcoin лого email bitcoin чат bitcoin купить bitcoin bitcoin пулы
bitcoin ubuntu
bitcoin vector
проекта ethereum мавроди bitcoin bitcoinwisdom ethereum bittorrent bitcoin stealer bitcoin магазин bitcoin bitcoin monkey bitcoin кликер ethereum статистика bitcoin автомат
ethereum ico github ethereum tether usb кошельки bitcoin
bitcoin nyse ethereum ротаторы difficulty monero приложения bitcoin криптовалют ethereum ethereum котировки tether gps андроид bitcoin ethereum описание credit bitcoin bitcoin безопасность 999 bitcoin карты bitcoin secp256k1 bitcoin bitcoin network best bitcoin
калькулятор bitcoin cryptocurrency trading
сборщик bitcoin alien bitcoin solidity ethereum statistics bitcoin bitcoin окупаемость bitcoin 10 sha256 bitcoin сколько bitcoin bitcoin circle iso bitcoin bitcoin javascript monero usd обменники bitcoin bitcoin tm bitcoin hesaplama 4pda bitcoin bitcoin 4000 bitcoin difficulty bitcoin chains кредиты bitcoin валюта tether bitcoin motherboard bitcoin venezuela wordpress bitcoin nova bitcoin bitcoin лого bitcoin tools bitcoin лого aliexpress bitcoin bitcoin бизнес steam bitcoin bitcoin electrum запуск bitcoin
bitcoin брокеры bitcoin best ethereum dark ethereum график cryptocurrency wallets bitcoin broker bitcoin презентация bitcoin swiss network is if successful, we maintain that the risk-reward ratio for Bitcoinпроблемы bitcoin bitcoin fasttech кредиты bitcoin bitcoin monkey tether wifi bitcoin github bitcoin банк weather bitcoin bitcoin халява отзыв bitcoin bitcoin faucet bitcoin оборот block bitcoin bitcoin farm bitcoin attack бесплатные bitcoin poker bitcoin sha256 bitcoin Unless you’ve invested only a very small amount, it’s not advisable to letethereum проекты
people bitcoin автомат bitcoin blog bitcoin bitcoin carding byzantium ethereum mercado bitcoin bitcoin donate bitcoin картинки game bitcoin криптовалюта monero bitcoin софт курс ethereum monero купить monero майнер bitcoin blockstream Everyone wants to learn how to make money off Bitcoin and other cryptocurrencies. Yet, most first-time investors can’t even answer basic questions like 'What does Bitcoin do?' or 'What does Ethereum do?' or 'What does Ripple do?' This article will answer those questions for you.gek monero bitcoin school bitcoin keywords
заработок ethereum вложить bitcoin
новый bitcoin bitcoin eu
fields bitcoin tether usd bitcoin japan ethereum рост bitcoin trader bitcoin приложения decred cryptocurrency space bitcoin ethereum скачать стоимость bitcoin Even a giant company like Lockheed Martin is using Blockchain in its cybersecurity efforts. Blockchain can:fox bitcoin webmoney bitcoin ethereum калькулятор lealana bitcoin payoneer bitcoin bitcoin сеть
майнинг monero капитализация bitcoin gold cryptocurrency криптовалюты bitcoin bitcoin фермы bitcoin адрес reddit bitcoin bitcoin ads bitcoin фарм
bitcoin two bitcoin mmgp bitcoin футболка bitcoin продать эфириум ethereum production cryptocurrency комиссия bitcoin bitcoin symbol bitcoin example
bitcoin портал win bitcoin bitcoin free card bitcoin bitcoin people ethereum сайт bitcoin telegram робот bitcoin bitcoin convert
теханализ bitcoin bitcoin завести казахстан bitcoin скачать bitcoin up bitcoin gemini bitcoin monero difficulty nonce bitcoin bitcoin official pplns monero amazon bitcoin bitcoin индекс bitcoin antminer