Posts Tagged ‘LTC

Litecoin (LTC) has been doing pretty well lately and no wonder that with the returning user interest in one of the oldest altcoins out there, ASIC manufacturers are also trying to attract new customers for their improved mining hardware. Here comes the new Innosilicon A6+ LTC Master ASIC miner wth PSU included promissing 2.2 GHS Scrypt hashrate at 2100W of power usage ready for shipping at a price of $3000 USD (or 0.613874 BTC or 45.034 LTC with the current prices). Innosilicon A6+ is an enhanced version of last year’s Innosilicon A6 LTC Master with improved performance and energy efficiency. The new Scrypt ASIC miner almost doubles the hashrate with just half of the power usage increase and it is interesting to note that Innosilicon still sells the old A6 miner at a price of $2000 USD without PSU for 1.23 GHS hashrate with 1500W power usage (significantly less than the initial price of $6300 USD it had when announced). Unfortunately running the numbers for the new miner through an LTC mining calculator, while profitable, the profit you can currently get over the power cost isn’t really attractive to really make you want to pull the trigger and get the miner.

Innosilicon A6+ LTC Master Specifications:
– Hashrate: 2.2 Gh/s (+/-5% performance)
– Power Consumption: 2100w ( +/-10%, normal mode, at the wall, with 93% efficiency PSU, 25°C temperature)
– Size: (L)360mm*(W)155mm*(H)247mm (dual tube)
– Net Weight: 9.31KG (without PSU)
– Internet connection: Ethernet
– Ambient Temperature: 0°C to 40°C

For more details about the new Innosilicon A6+ LTC Master Scrypt ASIC miner…

If you just had enough of Bitcoin forks lately, then this might be of interest – an upcoming Litecoin fork called Litecoin Cash (LCC) is coming up shortly and it will be using SHA256 as mining algorithm among some other changes. The Litecoin Cash (LCash anyone?) will be forking at Litecoin block which should occur on or around February 19th, 2018 will have a 10:1 claim ratio for Litecoin (LTC) users holding their coins in a local wallet or a compatible exchange or service that will support LCC. The maximum LCC supply will also be 10 times higher at 840 Million and the block reward will also be 10 times higher than what Litecoin currently has, so 250 LCC per block. The target block time remains at 2.5 minute, though difficulty adjustment will be changed, LitecoinCash will be using Evan Duffield’s proven DarkGravity V3 algorithm from Dash to recalculate mining difficulty on every block. There will also be a a slow start for the mining so block rewards will start at 1.25 LCC and grow to 250 LCC over the first 400 blocks after the fork. Unfortunately there is also a mention of a premine, supposedly less than 1% of total money supply at fork time to be paid to a development fund (should be about 5.5 Million LCC).

The reason that the team behind Litecoin Cash (LCC) cites as choosing to switch to SHA256 proof-of-work algorithm for mining is that this should enable a new use for previously obsolete Bitcoin mining hardware. While that may be true it will also open up the doors to large mining farms using up to date Bitcoin mining hardware, so well… good luck with that if things pick up fast. The “small premine” is not small at all even at 1% considering that there are already 55 Million Litecoins in circulation (out of 84), so around 550 Million at forking time for LitecoinCash out of 840 Million. The 1% premine is 5.5 Million LCC or 550 Thousand LTC, looking at it this way certainly does not make it “small premine”, does it? So next up anyone else seeing Litecoin Gold or more likely Litecoin Silver with Equihash or another GPU friendly mining algorithm? Anyway, nobody holding LTC is going to refuse some free coins, just be careful and always transfer your Litecoin coins to a fresh address first before importing any private keys into LitecoinCash or any other fork wallet for that matter.

Here is how Charlie Lee (the creator of Litecoin) has comment on Twitter regarding LitecoinCash (LCC) and any other forks that use Litecoin as a part of their name, according to him “any forks that you hear about is a scam trying to confuse you to think it’s related to Litecoin”. It is up to you to decide for yourself should you support LitecoinCash (LCC) and/or any other forks that may come out bearing the name Litecoin something.

For more information about the upcoming Litecoin Cash (LCC) fork of Litecoin (LTC)…

The creator of the crypto coin Litecoin (LTC) – Charlie Lee has tweeted that he is leaving Coinbase and will going in order to focus on his creation. Good news for one of the oldest altcoins and a total change from the “no need of further development attitude” from the last couple of years. In the last couple of months we have seen significant changes in LTC and that has lead to the revival of the altcoin after a long period of “sleep” and the news that Charlie Lee is focusing his attention on Litecoin is also a very positive one. We are already seeing the market responding to this positive news with the price of LTC rising…


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