What has a lower long term cost per hash: LTC, BTC or other alt coin?


One of scrypt design goals was to make CPU and GPU performance balanced, which meant that it was far more dependent on memory speed.

The GPU had a solid work around and as far as I know CPUs don't have any advantage.

But that did cause it basically impossible to do scrypt mining with an ASIC unless it has a ton of memory and memory channels added in, which is a huge design problem. Unlikely unless GPU mining for scrypt is very profitable.

This also makes Scrypt far more energy intensive for the same amount of useful hashing, but the network adapts as it requires far less hashes to solve problems (Difficulty number)

Which is greener? By far ASIC mining, it's power usage is tiny compared to performance, 4500MH for 4.5w vs 275MH for 100w.

But again, the network...

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It appears to me that electricity costs to mine blocks are rising at an unsustainable rate. Charts of difficulty and network hashes are growing exponentially. This is unsustainable. Currently miners generate revenue of approx. $30 on every transaction. Who pays for this? BTC holders, that's who. (Source: Blockchain.info charts) While it appears that fees we pay to transact are low, we actually pay this much higher amount mainly through inflation right now, due to mining of new BTC.

The big claim in favor of protocol sustainability is that the market will find a balance at the right transaction fee level. I would argue that already it is being shown that effective transaction fees (mining inflation + fees) are too high - mainly because of the underlying costs of producing blocks, of which electricity is a growing component. An unsustainably growing component. And that the low fees we pay to transact are actually an illusion hiding the real costs simply because so much...

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The main differentiator between Litecoin and Bitcoin appears to be the quantity of coins available, the frequency in which the blocks are mined, and the mining technology is different.

The first benefit "Quantity" appears to be a subdivision of another arbitrary fixed value. Since BTC is easily divisible, I don't see the the benefit of having more units that can also be subdivided.

The second benefit "Frequency" appears to create more blocks for the sake of creating blocks, and the safety zone of one 1 hour double spend attack has changed from 6 blocks BTC to 150 blocks Litecoin. (no benefit)

So what economic value does litecoin provide

During the high value mining period? (high block reward) During the low value mining period? (low block reward)

In other words, it seems that the initial differences between BTC and Lightcoin deal with the block reward, but once that is used up (or too low of a value) there isn't much more that makes Lightcoin more...

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1. What is Satoshi?

A satoshi is currently the smallest fraction of a Bitcoin. The unit has been named "satoshi" in collective homage to the founder Bitcoin, Satoshi Nakamoto. Satoshi are to Bitcoin like Pennies are to Dollars - just smaller.

1 Satoshi = 0.00000001 B

10 Satoshi = 0.0000001 B

100 Satoshi = 0.000001 B

1,000 Satoshi = 0.00001 B

10,000 Satoshi = 0.0001 B

100,000 Satoshi = 0.001 B

100,000,000 Satoshi = 1 B

2. What is an wallet?

There are several versions of bitcoin wallets available, depending on how you plan on using your bitcoin earnings. You can manage your BTC wallet on your desktop computer, hardware, in your web browser or on your mobile device. There are lots of choices recommended on the official bitcoin site,www.bitcoin.org. You will need to install the bitcoin wallet the way you would install any program or application to your computer or smartphone. After that, anytime you...

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It seems every new cryptocurrency that someone creates these days ends up with people taking sides. It's either a "scam coin / pump and dump" or it's the greatest thing since sliced bread. Now, there are a few ways to make a coin very undesirable -- premining a large chunk of coins before releasing a cryptocurrency to the mining community would be one, and I'd also steer clear (long-term at least) of any coin that distributes a large percentage of the total coins in a short amount of time. Looking at Vertcoin, this is what makes it worth potentially more than even Litecoin -- and long-term it could even surpass Bitcoin (assuming it remains ASIC-proof).

1) It's more resistant to ASICs
2) It has KGW so it's resistant to pools and/or large fluctuations in the number of miners
3) There was no premine or other silliness on the launch
4) It pays out slow and steady over a very long period of time.

Why shouldn't Vertcoin succeed where so many others have...

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The LTC-BTC exchange is the most common form of exchange in any altcoin market. Bitcoin is still the king of all cryptocurrencies, but Litecoin has been the second-in-command over the past few years. No other altcoin has come close to the kind of success attained by Litecoin, but it should be noted that the LTC-BTC exchange rate tends to be a bit less volatile than an exchange from dollars to Bitcoins. This is mainly due to the fact that most of the altcoins on the market follow the movements of Bitcoin.

LTC-BTC charts on CEX.IO can help you track the long term value of the Litecoin ecosystem, and this is one of the best places to be if you’re looking for a fair LTC-BTC market price. Litecoins are generally known as the silver to Bitcoin’s gold, but it’s still too early to tell whether or not this kind of relationship between the two most popular cryptocurrencies will be able to stand the test of time. This has been one of the most active trading pairs in the cryptocurrency...

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03/21/2014 Case study DM2 vs. Radeon HD7970

As you may know, our DualMiner USB 2 (DM2) has a price promation on volume purchase this month. When you purchase 50+ DM2 devices, you pay $61.2 for each DM2 device. I did a quick scrypt mining cost/reward comparision between the DM2 and one GPU (Radeon HD7970) system , and reached a conclusion that the DM2 is alreay neck to neck with Radeon HD7970 when comparing cost/reward matrix. Below is my detail analysis;

Difficulty is steady
You could get 10 DM2 at $61.2 per device somehow (such as through a groupbuy)

Given Conditions:
Host required to mine is not included in this comparision
External cooling is not included in this comparision
Mining Litecoin and $/LTC convertion rate = $16.94
Electricity cost (KW/Hour) = $0.15
Pool Fee = 2%
Duration for comparision = 375 days
Radeon HD7970 parameters; cost=$310, Hash Rate=700KH/s, Power comsumption=250W
10 DM2...

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This post is a companion to the earlier post on Segregated Witness Benefits, giving an overview of the technical costs and risks that may be incurred by activating segregated witness via BIP141.


For the purpose of this post, we will use costs to describe negative results that are certain to occur if segwit is deployed and activated, and risks to describe negative impacts that may not happen, or changes that not everyone may consider negative.

When analysing risks, we consider steps undertaken to avoid the risk (that is, to minimise the chance of it occurring), and steps undertaken to mitigate the risk (that is, if it does occur, how the negative impact can be minimised).

This post does not attempt to produce a conclusion as to whether the benefits outweigh the costs or whether segwit should be deployed or activated, but rather to assist by providing background information to assist stakeholders in making informed...

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I was really liking blackcoinpool right before the jump in prices -- I was getting ~200-250 BC per day with only 6Mhash pointed at it.

Since the jump and whatever else has been going on at the pool it doesn't seem as smooth. Since the huge (relative) drop in LTC difficulty 45 minutes ago, I'll be mining LTC direct and just buying BC manually on cryptsy.

I was making bits of profit in day trading BC the past day or so, turned 1100BC into 1400BC then cashed out. Sadly I anticipated wrong and the damn value kept going up. I gotta wait for it to dump/drop to 35000 before I get back in, OR use my whopping 0.56BTC to buy in now or soon and hope it keeps it's upward trend?

To me BlackCoin is one of those things that just kinda happened really really fast, I don't know any places that use it, or see it having a long term future (relative to BTC or LTC) it just seems like ones of those fad coins that I might be able to make a few hundred dollars off...

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Bitcoin prices, which had spiked as high as $1200 a week ago, fell back to Earth today as news came from China that government banks had begun blocking BTC transactions. This has put the currency’s Chinese future in danger in what had become its largest market. With prices slumping sharply downwards, the usual dog pile has emerged, with some pundits decrying this as proof that cryptocurrencies are intrinsically overvalued, and others arguing that this is a momentary slump, with BTC values predicted to rebound sharply.

I think it’s important to put this move in a regulatory context. Many banks in the US and other countries are leery of BTC transactions. Critics charge that this is because the financial industry believes BTC could replace it, but I think the truth is more prosaic. If you’re a bank in a modern Western nation, the last thing you want to do is encourage financial transactions that take place in a regulatory gray area and could be used for highly nefarious...

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BitMain and their 55nm BM1380 SHA256 ASIC chip and the miners that the company has released based on it are quite popular and now the company has announced that they are ready with their new 28nm ASIC chip – the BM1382. As you can already guess the new chips will be offering higher performance at a lower power consumption, so you can get more powerful miners with the same size and power usage as the previous generation with the help of the new chips. The track record of the company is so far very good thanks to the fact that they are not using pre-orders, but ship from stock and announce products when they are ready for shipping, so you can get them fast at a good price and start hashing right away.

BM1382 has achieved 15.75 Gh/s in hash performance, consuming less than 9.33 W on chip level at 0.75V. This means 0.59 J/GH on chip. If the core voltage is at 0.63V, the efficiency will be 0.40 J/GH on chip. BM1382 will bring the power efficiency of Bitcoin mining industry to a...

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