PSA: Try and use other mining pools in place of www.wemineltc.com They are near 25% of the Network hash rate.

[Vitalius]

Hi guys,

This reddit post was recently found by me, and I thought it was important since I see a lot of people using this mining pool already.

The reason them having 25% share of the Network hash rate is a bad thing is that, if they conspired with some other pool, they could easily have over 50% and control the flow of LTC.

This was a problem with BTC mining some time ago, when a single pool was almost at 51% of the total network hash rate and had to be throttled to prevent them causing double spending. Which basically means they could decide how much BTC anyone got. It's more complicated than that, but you get the idea.

You can use wemineltc, but just keep aware of how much of the total network hash rate your pool has and try to avoid bigger ones to prevent any of them from having too much of it. This won't cause you to make any less LTC. 

Wemineltc isn't the bad guys, but at the same time, we don't want them to have the power to become the bad guys. That'd be bad. Mkay?

Thanks,
Vitalius

[TheMissxu]

I'm using Coinotron.

[whatthe_fuzz]

But its so simple

[RuecanOnRails]

For a list of other known pools and their current % of the hashrate check here.

 

https://www.litecoinpool.org/pools

 

Personally I use Liteguardian. But would also recommend litecoinpool.org or LTCRabbit

[Vitalius]

Also, wemineltc is actually being pushed to the limit on all their servers from what I can tell.

I moved to a much smaller pool and my Rejected Shares are much lower now. They were over 3% with wemineltc, while switching Nushor's LTC Pool has made them just over 1% so far. 

And just so you know, Raen, someone who "works" for wemineltc (he's an admin) told everyone to switch to global because all the other ones were getting bogged down and it should increase your Accepted:Rejected ratio. Mine didn't until I went to a new, much smaller, pool.

Think about how much LTC is growing in popularity, and combine that with the fact that wemineltc is one of the most popular pools and this makes sense. After 30 minutes, I'm at 22560:304 (A:R) so about 1.36%.

[manofcolombia]

I mine with Mine-Litcoin and yes they have had server issues this past week or so but now it looks like theyve ironned everything out and been mining for 24+ hours with no hiccups. The pool averages some where between 250 and 300 mhash/s so its a decent size. Nice community in the IRC too.

[bcredeur97]

ive mined with Give-me-coins for a while. now using coinotron. Heard that there was some funny stuff going on with give-me-coins (people not getting as many coins as they were supposed too) even though i never had a problem, i switched just in case.