All About BTC, LTC, ETH mining as well as other alternative crypto currencies
Litecoin (LTC) difficulty has gone up again for the next 3 days. After DOGE coin moved past block 100000 and the reward per block was halved and the recent fork on the DOGE network accompanied by panic sell from some users things are finally getting back to normal. What also helped for that was the adjustment of difficulty for the LTC, going up by a bit more than 19% to 3207 has made DOGE much more profitable to mine at the moment. The DOGE difficulty has also decreased a bit, so as soon as the pool you are were mining DOGE has updated their DOGE software you can move back to mining DOGE again. Another good thing with the increase of the DOGE profitability, our new favorite backup pool LTC Rabbit has again started mining alternative cryptos such as DOGE and pays alt coin bonus after a few slow days with only LTC being mined. For the moment the alt coin bonus payed in LTC is small, but it should increase more after the next 4 hour shift is over due to the increase of DOGE profitability. Hopefully things with the recent BTC exchange issues will continue moving in the right direction and we should see the exchange rates for bot LTC and BTC starting to get back to their normal levels.
We have passed the 100000 block mark being discovered on the DOGE network and what that does is halving the mined number of coins per found block between 0 and 1 million previously to 0 to 0.5 million for the next 100000 blocks before the next halving of the reward. The result of the reward halving per found block for DOGE is that the current profitability is pretty much in half than before and it is lower that LTC at the moment due to the difficulty remaining the same and the exchange rate going a little lower than in the previous day. So it will be wise to move to another alternative crypto coin for the moment and even mining directly Litecoin will be more profitable than for DOGE at this particular point in time. What can bring DOGE back on the scene is reduction of difficulty, or less people mining it, or increase inn the exchange rate now that the rewards per found block are less. We’ll hack to see what will happen, but for now think about switching your scrypt miners temporary to another crypto currency that offers better profit and LTC or mine directly LTC.
After a momentary drop in price the DOGE price is on the rise again kicking the profitability back to double that of the LTC, even though the Litecoin difficulty has been recently adjusted from 3,998 down to 3,130 (-21.71%) thanks to the rise of the DOGE. We may see yet another drop in LTC difficulty in another 3 days if the profitability of the DOGE continues to be good and thus the profitability of the LTC mining could get better as well. The big question mark at the moment is how things will go in the next few weeks due to the Chinese New Year holidays that are just about to start and the concerns are not only about LTC prices (it has dropped a bit already), but also for the BTC and other cryptos as well.
Meanwhile the DOGE could secure even better position becoming closer to securing a good market position after the LTC. With the current price 5 DOGE coins trade for about $0.01 and a lot of people that mined DOGE coins at lower difficulty and haven’t sold them yet are hoping for further increase in the price to about 1 DOGE per 1 US cent to realize good profit with the hundreds and even millions of coins they have already mined. However it is up to you if you mine now and sell now, or mine and wait for even higher price as the interest in DOGE remains high. But the answer to the question if you should mine DOGE now instead of LTC directly at the moment is HELL YES due to the much higher profitability!