It's been fun guys...

[digitalnav]

Litecoin Difficulty: 2,218

Estimated Next Difficulty: 2,676 (+20.62%)

 

:wacko:

[Youbetternot]

Just Ha

[nsyedhasan]

Should have gotten earlier. Well I was going to mine anyways.

[whatthe_fuzz]

Wanna give some insight on their potential worth?

[Anult]

[Jamdude]

20.65% increase in difficulty, what does the difficulty mean?  (I don't mine)

[Osmium]

Well fuck, I was just about to post a thread asking for help setting up CUDA miner but this makes me want to stop altogether.

[SMURG]

20.65% increase in difficulty, what does the difficulty mean?  (I don't mine)

It basically determines how long it takes to find a block of coins, so now it will take longer to get the same number of coins as you would before for that much work.

[Asgarth]

I knew it would happen, too late to start now

[FlakeyBanana]

Well with all the people jumping on ltc what else would happen, i just hope the value increases

 

mine coins and hold them is my l33t strat

[bcredeur97]

guys at current difficulty 300 KH/s is making $3.69 (not counting electricity) a day so still not too bad. Hopefully LTC goes up to 40 again and perhaps beyond!

[TheYoungEnthusiast]

Only got into mining about two weeks ago, thank god I didn't go through with building a dedicated machine. That would have been a disaster. Oh well, I made about $15 profit over about a week of on and off mining... I guess it was only a matter of time until litecoin started becoming impossible to mine. Hey, if the price skyrockets like Bitcoin did, I got half a coin to cash out!

[RuecanOnRails]

I'd expect the difficulty to continue rising over the next month or so before leveling out.

 

Keep in mind in theory as they become harder to mine, people will be more hard pressed to part with their newly minted coins. If you hold onto the coins you mine today, they may be worth more tomorrow when they get much more difficult to mine.

 

http://bitcoinwisdom.com/litecoin/difficulty

[Vitalius]

I'd expect the difficulty to continue rising over the next month or so before leveling out.

 

Keep in mind in theory as they become harder to mine, people will be more hard pressed to part with their newly minted coins. If you hold onto the coins you mine today, they may be worth more tomorrow when they get much more difficult to mine.

 

http://bitcoinwisdom.com/litecoin/difficulty

This.

The actual profitability of mining never actually goes down if it happens this way because although you get less coins as the difficulty goes up, the price should go up with the difficulty (thus the theoretically part) and so though you mine less coins, your coins are worth more. Unfortunately, reality doesn't always reflect this 100%, but it will at times.

... There are diminishing returns to this idea, but I think LTC isn't near that point yet. That will probably be around the $200-$350 range. Where I think LTC is headed.

[RuecanOnRails]

If at some point the difficulty goes too high and the price doesn't follow it will no longer profitable for lower end miners. Those miners will likely stop mining as they could buy coins cheaper. This will lower the overall network hashrate and lower the difficulty.

 

You can also jump between multiple coins based on which one has a lower difficulty/higher profitability. As people jump back and forth it will create a two steps forward, one step backwards in terms of difficulty increases over time.

[Vitalius]

cuda miners gunna crap

Yeah. 

Still not understanding why someone hasn't made a Crypto-currency that mines better with Nvidia than AMD.

[RuecanOnRails]

Yeah. 

Still not understanding why someone hasn't made a Crypto-currency that mines better with Nvidia than AMD.

 

Because it's impossible People have tried by enforcing artificial limits based primarily on cuda.... Turns out AMD cards are just better at raw performance. Any coin released for Nvidia alone takes about a day before someone releases an AMD miner which destroys the Nvidia advantage.

[Vitalius]

Because it's impossible People have tried by enforcing artificial limits based primarily on cuda.... Turns out AMD cards are just better at raw performance. Any coin released for Nvidia alone takes about a day before someone releases an AMD miner which destroys the Nvidia advantage.

Lol, that's both sad and awesome at the same time. 

Thanks, didn't know that.

[algoat]

Doing the math for a single R9 280x at a conservative 700kh/s, that would be about a $200/month profit compared to a $245/month profit with the current difficulty.  Still worth it I'd say, but I may need to point all my miners to my FTC server at some point.  Luckily I started mining at the beginning of summer!