Litecoin mining

The era of Bitcoin mining on the GPU is dead. A year ago, a single Radeon graphics card could crank out a affordable fraction of a Bitcoin inside a single day. These days, that very same GPU earns a thousandth of a Bitcoin in 24 hours, creating little value though consuming a substantial volume of power. The shift to ASICs for Bitcoin mining mirrors the shift from CPUs to GPUs, but the market is not content to just turn those mining rigs off - not when there’s an option currency offered for which ASIC miners do not exist.

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That option is Litecoin - and there’s explanation to believe that buyers have emptied the shelves of AMD’s Radeon hardware to create mining platforms. Initially off, there’s the fact that you can not uncover a high-end Radeon in stock in the moment. Newegg and Amazon are each out of stock, while over at Amazon, the lowly AMD Sempron 145 - a single-core, two.8GHz chip using a $29.75 price - is definitely the 5th most well known CPU.

Clearly Litecoin miners are coming on-line, and they’re coming on the web en masse. Quite a few of these are undoubtedly Bitcoin miners switching over now that GPUs are no longer expense efficient, but a few of these systems are almost certainly driven by new miners.

Litecoin, like Bitcoin, is actually a cryptocurrency, but it’s based on scrypt, not SHA-256. Scrypt is really a different cryptographic algorithm that’s purposefully made to become tricky to parallelize. Even though that hasn’t stopped it from moving to the GPU, it requires much more memory than Bitcoin mining - various gigabytes worth, as opposed to many dozen megabytes.

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Litecoin confirms transactions more quickly (just about every 2.five minutes, as opposed to every 10 minutes for Bitcoin) and it includes additional coins - 84 million coins might be identified in total under the LTC protocol, as opposed to 21 million for BTC. Bitcoin and Litecoin rates tend to move collectively; Bitcoins stratospheric leap over the past month (it is down from a higher of $1200 but trading at $873 as of this writing) has developed an odd circumstance exactly where it is simpler to mine Litecoin and then convert LTC to BTC then it is actually to just mine BTC to start with.