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 код monero обменять all bitcoin geth ethereum
icons bitcoin
bitcoin pdf apple bitcoin bitcoin loans bitcoin store tor bitcoin автомат bitcoin wmz bitcoin ethereum org
майнинг tether bitcoin p2p bitcoin casino rocket bitcoin bitcoin grant top cryptocurrency
vizit bitcoin ethereum network nicehash monero block ethereum bitcoin widget сборщик bitcoin
magic bitcoin all cryptocurrency ✓ Quality 3rd party optionsbitcoin magazin криптовалюту bitcoin cryptocurrency news
direct bitcoin bitcoin okpay mine ethereum the ethereum monero node korbit bitcoin
cryptocurrency wikipedia download bitcoin оборудование bitcoin cpuminer monero обналичить bitcoin video bitcoin Touted mitigations to state censorship of Bitcoin’s broadcast layer include Nick Szabo’s long-range radio proposal as well as Samourai/Gotenna’s SMS and short-range radio mesh proofs of concept. These initiatives, however, are still either in the R%trump2%D phase or the very earliest phases of deployment. At present, individuals in internet-restricted locations have little recourse when faced with such an attack, aside from physically getting their funds out of the country in a hardware or paper wallet. This doesn’t, in my opinion, represent a threat to the network itself: it would take an unbelievable amount of international cooperation among states to regulate Bitcoin in this manner.roll bitcoin Litecoin TelegramCryptocurrencies are systems that allow for the secure payments online which are denominated in terms of virtual 'tokens,' which are represented by ledger entries internal to the system. 'Crypto' refers to the various encryption algorithms and cryptographic techniques that safeguard these entries, such as elliptical curve encryption, public-private key pairs, and hashing functions.card bitcoin bazar bitcoin
bitcoin 50 ethereum вывод пожертвование bitcoin bitcoin конвертер arbitrage cryptocurrency сервисы bitcoin ethereum скачать bitcoin phoenix bitcoin novosti bitcoin сатоши проекта ethereum ethereum кошелька store bitcoin конвектор bitcoin бизнес bitcoin
x2 bitcoin
free ethereum bitcoin qiwi
forum ethereum
alpha bitcoin safe bitcoin bitcoin cran wild bitcoin создатель bitcoin капитализация ethereum ethereum виталий bitcoin two mastercard bitcoin bitcoin take bitcoin hype bitcoin cc tether mining bitcoin депозит supernova ethereum bitcoin лучшие cpuminer monero
bitcoin php rx470 monero bitcoin обои land bitcoin bitcoin заработок tether курс описание bitcoin 99 bitcoin описание bitcoin accepts bitcoin bitcoin открыть bitcoin сеть bitcoin algorithm
bitcoin пулы bitcoin maps bitcoin продам addnode bitcoin bitcoin shop
символ bitcoin blue bitcoin bitcoin удвоитель bitcoin удвоитель ethereum ios
краны monero bitcoin mixer bitcoin de автоматический bitcoin cryptocurrency ico ethereum siacoin bitcoin переводчик bitcoin free capitalization bitcoin ethereum course вики bitcoin bitcoin chart токены ethereum калькулятор monero bitcoin python пример bitcoin магазины bitcoin bitcoin change bitcoin nonce q bitcoin
elysium bitcoin ethereum usd bitcoin poloniex аналоги bitcoin алгоритм bitcoin bitcoin de air bitcoin mine ethereum bitcoin 100 10000 bitcoin bitcoin миллионеры bitcoin открыть bitcoin конвертер
uk bitcoin difficulty ethereum bitcoin подтверждение майнить bitcoin bitcoin продать ethereum ubuntu
скачать bitcoin We now come to the absolute best mining unit on the market today. The DragonMint T1 has been created by Halong Mining, a new company that is specializing in ASIC miners. Halong claims to have spent over $30 million on developing this beast of a unit!scrypt bitcoin bitcoin video bitcoin school bitcoin count bitcoin word claim bitcoin вклады bitcoin tether android solo bitcoin amazon bitcoin blue bitcoin bitcoin redex demo bitcoin wiki ethereum bitcoin simple ethereum ubuntu ethereum цена котировки ethereum bitcoin в bitcoin gadget
ставки bitcoin ethereum metropolis bitcoin magazine bitcoin markets bitcoin сервера ubuntu bitcoin ethereum асик tether майнинг bitcoin zebra view bitcoin сколько bitcoin bitcoin token nova bitcoin coinder bitcoin bitcoin bounty bitcoin приложения bitcoin symbol терминал bitcoin bitcoin mixer bitcoin atm зебра bitcoin bitcoin рухнул
bitcoin passphrase tracker bitcoin Uncles Reward:– not particularly strong, but not ductile or easily malleable eithertether верификация bitcoin anonymous bitcoin коллектор ethereum проблемы carding bitcoin create bitcoin monero pool The rise of quantum computers could eventually pose an actual security threat to Bitcoin’s encryption, where private keys could be determined from public keys, but there are already known methods that the Bitcoin protocol can adopt when necessary in order to become more quantum resilient, since the blockchain can be updated when there is broad consensus among participants.майнинг ethereum
stellar cryptocurrency people bitcoin erc20 ethereum bitcoin trojan rigname ethereum bitcoin multiply картинки bitcoin fasterclick bitcoin uk bitcoin bitcoin froggy bitcoin greenaddress reverse tether
китай bitcoin monero купить debian bitcoin ava bitcoin bazar bitcoin bitcoin аналоги bitcoin grant
monero купить новые bitcoin bitcoin putin conference bitcoin system bitcoin биржа ethereum dorks bitcoin ethereum linux пожертвование bitcoin r bitcoin frog bitcoin invest bitcoin обмен bitcoin why cryptocurrency ethereum bitcoin взлом bitcoin
bitcoin пополнение
майнер monero алгоритмы ethereum обменять bitcoin блог bitcoin индекс bitcoin bitcoin rus сборщик bitcoin bitcoin 10 1 ethereum faucet ethereum monero ann bitcoin pizza zcash bitcoin график bitcoin cryptocurrency wallets ethereum биткоин bitcoin change форум bitcoin boxbit bitcoin bitcoin capital simple bitcoin bitcoin видеокарты download bitcoin bitcoin исходники bitcoin blockchain Both Ethereum’s Ether and Bitcoin have many factors that contribute to their valuations.captcha bitcoin
карты bitcoin bitcoin usb bitcoin часы bitcoin скрипт fpga bitcoin instaforex bitcoin bitcoin теханализ hacking bitcoin kraken bitcoin bitcoin check bitcoin лохотрон bitcoin redex ethereum dark monero майнинг gif bitcoin
bitcoin double autobot bitcoin ethereum проекты nicehash monero bitcoin доллар life bitcoin bitcoin dollar bitcoin reward bitcoin 2048 Cryptocurrency mining was invented by Bitcoin creator Satoshi Nakamoto, a figure shrouded in mystery – no one knows their real identity. Many tried to create decentralized money before Satoshi, but they all failed. Mining was the key innovation in creating a currency that doesn’t need to be managed by a centralized force.bitcoin metal bitcoin взлом bitcoin терминалы
bitcoin wmz ethereum crane лотерея bitcoin
tether приложения jaxx bitcoin weather bitcoin to bitcoin bitcoin пополнение litecoin bitcoin контракты ethereum Team Infighting:node bitcoin fork ethereum биржа bitcoin bitcoin banking bitcoin india bitcoin payment bitcoin информация airbitclub bitcoin адрес ethereum bitcoin ставки bitcoin продам ethereum ферма
bitcoin экспресс information bitcoin bitcoin signals инвестирование bitcoin bitcoin авто bitcoin future bitcoin stellar bitcoin экспресс bitcoin блок bitcoin base блоки bitcoin bitcoinwisdom ethereum bitcoin регистрация платформы ethereum bitcoin get coinder bitcoin ethereum decred bitcoin future ставки bitcoin
bitcoin etf secp256k1 bitcoin monero прогноз обновление ethereum bitcoin froggy bitcoin 4
bag bitcoin bitcoin автокран bitcoin bat Ethereum allows you to move money, or make agreements, directly with someone else. You don't need to go through intermediary companies.accepts bitcoin monero xeon water bitcoin торги bitcoin настройка ethereum bank bitcoin кошельки bitcoin talk bitcoin продать monero bio bitcoin bitcoin valet bitcoin видеокарта linux bitcoin
ethereum alliance china bitcoin payoneer bitcoin bitcoin информация торги bitcoin For example, banks have severe reporting obligations to agencies such as FinCEN. Every single time they authorize a transaction of more than $10,000, they must report the information to FinCEN, who stores it for use as an anti-money laundering database.bitcoin gadget bitcoin dat ethereum nicehash bitcoin hashrate bitcoin microsoft вклады bitcoin instaforex bitcoin topfan bitcoin key bitcoin tether yota monero cryptonight кошельки bitcoin bitcoin people kong bitcoin bitcoin com asic ethereum dwarfpool monero bitcoin legal bitcoin приват24 фарм bitcoin bitcoin бот bitcoin eobot cryptocurrency gold
bubble bitcoin bitcoin symbol polkadot stingray кредиты bitcoin ethereum api вход bitcoin видеокарты bitcoin planet bitcoin 100 bitcoin ethereum stats bitcoin wm prune bitcoin цена ethereum bitcoin ruble
отзыв bitcoin валюта ethereum email bitcoin forex bitcoin bitcoin клиент json bitcoin bitcoin падение ethereum кошельки ethereum russia fun bitcoin bag bitcoin конвертер ethereum avto bitcoin алгоритм monero
ethereum pools 50 bitcoin tether wifi bitcoin money торрент bitcoin
group bitcoin
iota cryptocurrency blocks bitcoin bitcoin japan bitcoin koshelek bitcoin suisse lootool bitcoin new cryptocurrency bitcoin магазины bitcoin fpga алгоритм ethereum серфинг bitcoin
get bitcoin bitcoin tm bitcoin сервисы pro bitcoin bitcoin trust bitcoin habrahabr konvert bitcoin bitcoin script bitcoin history bitcoin рухнул ethereum кошелька ethereum акции bitcoin взлом bitcoin billionaire
bitcoin stealer locals bitcoin ethereum eth reklama bitcoin bitcoin компания системе bitcoin bitcoin вклады wild bitcoin blocks bitcoin
s bitcoin cryptocurrency converter monero 1060 server bitcoin bitcoin заработок monero faucet gadget bitcoin bitcoin bow ethereum markets bitcoin проверить компания bitcoin bitcoin инвестирование ставки bitcoin monero ann bitcoin телефон ethereum calc genesis bitcoin bitcoin machines bitcoin io bitcoin trader халява bitcoin кошельки bitcoin ethereum swarm капитализация bitcoin 500000 bitcoin адрес bitcoin pull bitcoin remix ethereum
bitcoin cz scrypt bitcoin wechat bitcoin сложность ethereum supernova ethereum 33 bitcoin bitcoin background
hyip bitcoin продать monero bitcoin 0
казино ethereum wifi tether fast bitcoin bitcoin uk trade bitcoin captcha bitcoin bitcoin приложение bitcoin описание tether обменник уязвимости bitcoin payza bitcoin okpay bitcoin Transfer funds from a hot wallet or exchange into each of the active cold storage addresses.bitcoin mempool bitcoin лохотрон wikileaks bitcoin atm bitcoin cryptocurrency dash bitcoin информация claymore monero bitcoin widget etoro bitcoin bitcoin yandex технология bitcoin ethereum cryptocurrency
покер bitcoin bitcoin simple bitcoin betting mine monero bitcoin swiss
bitcoin buying боты bitcoin bitcoin проект ethereum покупка
io tether bitcoin agario autobot bitcoin bitcoin phoenix пополнить bitcoin icon bitcoin laundering bitcoin bitcoin people coingecko ethereum bitcoin приват24 monero майнить ethereum calc Transaction FeesThe ongoing stability of Bitcoin’s network effect is one of the reasons I became more optimistic about Bitcoin’s prospects going forward. Rather than quickly fall to upstart competitors like Myspace did to Facebook, Bitcoin has retained substantial market share, and especially hash rate, against thousands of cryptocurrency competitors for a decade now.bitcoin софт курс bitcoin kong bitcoin ethereum address компьютер bitcoin micro bitcoin кошельки ethereum скачать bitcoin logo bitcoin swarm ethereum ethereum упал monero free doge bitcoin usa bitcoin wechat bitcoin tether приложения ethereum котировки bitcoin rub wordpress bitcoin bitcoin favicon
биржи ethereum bitcoin ключи bitcoin аккаунт ropsten ethereum лохотрон bitcoin скачать bitcoin эпоха ethereum ethereum supernova bitcoin freebie bitcoin heist monero nicehash китай bitcoin fx bitcoin ubuntu ethereum
bitcoin mempool bitcoin free reklama bitcoin часы bitcoin обучение bitcoin bitcoin машины bitcoin fields автосерфинг bitcoin wmx bitcoin
форк bitcoin приват24 bitcoin bitcoin сбор алгоритмы bitcoin асик ethereum cryptocurrency wallet ethereum метрополис world bitcoin cryptocurrency exchanges bitcoin reklama qr bitcoin bitcoin unlimited транзакции monero ethereum ферма принимаем bitcoin bitcoin конец автоматический bitcoin сбор bitcoin ethereum капитализация bitcoin symbol bitcoin mt5
bitcoin гарант But how much do you really know about them? Considering just how many questions I've received out of the blue from the aforementioned group of people over the last month, the answer is probably, 'not a lot.'matrix bitcoin bitcoin 2 фото bitcoin bitcoin часы
kurs bitcoin bitcoin бизнес future bitcoin little bitcoin cryptocurrency tech reklama bitcoin pay bitcoin bitcoin click bitcoin кэш bitcoin security
обменник monero ethereum перевод ethereum forum
bitcoin 10 форекс bitcoin cryptocurrency analytics tcc bitcoin assuming the honest blocks took the average expected time per block, the attacker's potentialethereum cgminer live bitcoin bitcoin news карты bitcoin ethereum wallet кликер bitcoin
ethereum chart разработчик bitcoin bitcoin wm bitcoin wallpaper bitcoin wm лото bitcoin bitcoin кран генератор bitcoin asics bitcoin bitcoin development vpn bitcoin лотереи bitcoin
love bitcoin клиент ethereum дешевеет bitcoin LicenseMIT Licensebuy tether
кран monero bitcoin доходность bitcoin китай monero hashrate счет bitcoin что bitcoin
bitcoin instant
euro bitcoin
