Is litecoin mining still viable? - [email protected], Boinc
WHAT IS LITECOIN: Here's What You Need To Know About The
IF it had the same hashrate as bitcoin, then its more frequent block generation would make double spend attacks by parties with significantly less than 50% of the total hashrate harder in a given space of time, because the probability of getting a consecutive number of blocks faster than the rest of the network decreases with each additional block discovered in that space of time.Much the same as Bitcoin, Litecoin has begun with a mining prize of 50 coins for.And to make matters worse, Litecoin mining pays 25 tokens for every block,. Relax. I know that one bitcoin is worth more than 25 litecoins.Mining with both GPU and CPU concurrently reveals just how much better GPUs are at mining than.This is huge and means that ALL computational attacks involving less than half of the compute power of the Litecoin network are 4X exponentially less effective in Litecoin than they are in Bitcoin.
The simplest intuition you can have about the value of a confirmation is this though: Basically, every confirmation adds an exponential factor AGAINST whoever has a minority share of computational power.Unobtanium vs. 42 Coin: Ease of Use. but there are precautions you can take to secure your Bitcoin wallet.
Could Litecoin Become Better Investment Than Bitcoin SoonLitecoin mining, is very similar to Bitcoin mining. How To Mine Litecoin (LTC) With Your PC. offers a graphical user interface and is very easy to use.Would be better to estimate...Find out what your expected return is depending on your hash rate and electricity cost.Actually if you read a couple posts up I had cited his paper and then you immediately started quoting from it, like you had never read it before or something.Alvaro is interested in what Leo thinks of Litecoin and Bitcoin.Litecoin also has almost zero payment cost and facilitates payments approximately four times faster than Bitcoin. miners to mine both Bitcoin and Litecoin at.
Ethereum has a slightly different economic model than Bitcoin.
Litecoin Mining - Bitcoin ChaserFrom that, it seems that six confirmations is a good number in that the improvement of protection from compute attacks per confirmation drops off sharply after six.
Bitcoin Mining: The Easy Money Has Been Made - BlockchainBitcoin has a few ASICs, and will have plenty more soon, so the only way to attack Bitcoin is to make more ASICs, and make A LOT of them.All that needs to happen is for there to be some attack vectors with a profitable outcome.Transaction security on either network, regardless of compute power, is negligible before three confirmations.
Generally we have assumed it takes 4 litecoin blocks to equal the security of 1 bitcoin block but this has always been a guess.But for GPU mining, it is an alternative casual users are going to have to consider.Litecoin took advantage of years of Bitcoin network data in establishing that 2.5 minutes was a better compromise between expediency and cycle waste.The same thing will happen to GPU mining if ASICs are developed for sCrypt.
If I stumbled across this post through the sidebar on my first entry to this subreddit, I would be turned off of the community.Why care that your windows are bulletproof if your front door is left wide open.The reason the problem is incorrect is because it assumes we have exactly one attacker and that our attacker tries for 1 hour then just throws his hands in the air and gives up.
Is Litecoin the New Bitcoin? - Innovation Insights
What is Bitcoin, and what do you think about it? | The
Bitcoin vs. LitecoinLitecoin, the better Bitcoin option. The difference between Bitcoin and litecoin is simple:. works better litecoin Because it does more to encourage mining.This came out of some research I put into finding out the probability of a 51% attack for bitcoin.
On the other hand, in order to successfully double-spend you need to attempt to double spend.The Digital Currency Growing Faster Than Bitcoin. hey folks wanna win a raffle come mine at.Then there are a couple of advantages that make Bitcoin better than. as it provides an incentive for gold miners to mine.Why is a coin that already requires only specialized hardware to mine, for which no huge stash of readily available hardware is available, less secure than the coin that relies on generic hardware, and can still be exposed to specialized hardware risk.Could Litecoin Become Better Investment Than Bitcoin. to use less energy which makes it easier for miners to mine.
The same problem over a month and a year is about the same and over 100 years the probability is a mere 0.0155609472527%.A Bitcoin mining pool with p2pool, litecoin mining pool and other cryptocurrencies.We cover news related to bitcoin exchanges, bitcoin mining and price forecasts for various virtual.We are trying to find the chance of getting a run of K or more successes (heads) in a row in N Bernoulli trials (coin flips).An informed merchant will scale the number of confirmations required against the value of the transaction based on the current mining power of the network.
Introduction To Litecoin - Business Insider
Litecoin: The Digital Currency Growing Faster Than BitcoinLitecoin - Is better use a good CPU or good. that you will get better results using. different proof of work function Bitcoin miners cannot mine litecoins.
I mentioned most of these points and went into further detail in other comments here.The numbers here are 4,032 trials per week and 24 blocks in a row.Here are 12 cryptocurrency alternatives to Bitcoin. purportedly processed more quickly with Litecoin than Bitcoin. to Bitcoin, there is no mining of.Since you have more hashing power than the competing chain, you WILL eventually have a longer chain (gambers ruin guarantees this).
If you have 51% of the hashrate your chance to successfully double-spend is 100%.