Not sure if people are returning to litecoin from doge or what but just in the last day the difficulty and network hashrate have jumped considerably. Anyone have insights or opinions?
its mostly the multipools. i think i saw 35gh of multipools come and go within a hour.They really are a nucense and also cause alot of market instability as they just dump coins into the market.LTC profititability has also increased alot which is going to cause some more miners to move back. Yes srcypt asic have arrived but its not causing this much of a network hashrate jump imo.
I agree the ASIC's for scrypt, Gridseed etc. just aren't there. Just looked at multipools. Had no idea what they were. I can't see the reasoning or justification for there claim. I can't see how they are a profit maximizing scheme as they bounce from coin to coin seeking profitability. IMO they just disrupt the stable mining pools. Akin to skitzo mining IMO.
So the network hashrate has steady began to really climb akin to bitcoin when ASIC's started to show up. This is really giving flashbacks. Someone has got something cooking out side of the GridSeed stuff.
I saw the network hit at high of 150+ GH/s now at 130+ GH/s. Our luck today is terrible as well........
As much as i hate pumping the brakes on building new rigs...i think now is the time to be alittle cautious.
I was in the process of pricing out a new rigs with nvidia maxwell architecture cards.
Think I will hold off as well. Seems everyday the hash rate jumps 20GH which is a ton for script.
Yep the multipools are to blame. Been watching then come and go last few days to week. They really taking a dump on LTC value down over $ now and jacking up the difficulty.
Going from 3232 diff to 4700 has effectively cut profit in half. the network is usually about 100Gh but with the multi's jumping it it has doubled to 150Gh.
Agree I was under the impression someone was doing some ASIC scrypt testing or something. At one point the network hashrate jumped to 170+ GH. Hence we are at 4700 diff.
yeah i dont think that they would add that much doing asic testing. multipools equal over 35% of the whole network hash when they decide to come and rape LTC
Yea at this rate if they keep hitting it and the big difficulty jumps my 2.4mh/s system won't be worth a damn... For LTC that is.
Could it help drive the price per coin up? Haven't seen any significant price movement since it happened.
Gridseed with 300 kH/s and its price is less than R9 280X can do, its multipools for sure. My former doge facility multipool.us can do 20 GH/s plus alone by switching to LTC, and it happened last time often.
That is why adding a coin to the pool that is multipool/ASIC resistant is a good thing. I for one voted on Vertcoin as a alt coin to be added to the pool for this very reason.
Wafflecoin has 34GH on the network O.o
Wafflecoin is also getting exploited at the moment. Most multipools are.
At 200 gh/s the way it is at the moment, and 6900 diff in a day and a half, at the current prices I personally will start loosing money and better shut the rigs off (( How do other miners feel about VTC? it now seems even more profitable to switch, though im afraid of the risks it carries....