Litecoin Network Difficulty Still Rising Seriously

9 Jul
2014

litecoin-network-difficulty-on-the-rise

With the shipment of more and more Scrypt ASIC miners the network difficulty is still on the rise and the percentage it increases at each difficulty readjustment is increasing as well. At the same time the price of the Litecoin remains under $8 USD with the most likely reason being that there are more sell orders and buy orders due to new miners willing to get as fast as possible ROI of their ASIC mining hardware. As a result these people mine LTC and sell it immediately and thus the exchange rate is going down and people start panicking about the future of Litecoin. This also makes more and more people rethink their plans for purchasing, especially on pre-order, new Scrypt ASIC miners.

What you can do to actually get better profit mining LTC and at the same time help in bringing the exchange rate up and not down is to mine in multipools such as LTC Rabbit and Coin King and others where you mine the most profitable Scrypt coin and can get payments in Litecoins. This helps LTC in a way that you are usually getting slightly higher profit than directly mining for Litecoins and the miner altcoins are sold for BTC and the earnings in BTC are used for purchasing LTC. This creates more buy support for the Litecoin, though it might not be as good for other alternative Scrypt crypto currencies such as DOGE that is suffering quite a lot because of this mining method used by multipools. Do note however that mining in a multipool does not always mean you will be getting better profit as often the pool might be mining directly for LTC if there is no more profitable alternative crypto currency.



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