Litecoin mining rig calculator for fractions
Solar panels that output 10kW will be able to supply all the power we need! Good luck getting a permit to put one up anywhere in Victoria too. Thanks anti-wind farm nutjobs. So the only real alternative is to get a discount on our electricity use by using solar when it shines brightly to give 8.
Solar panel output varies greatly depending on the amount of sunlight. What could I have spent my money on instead? What else could I have done with the same resources and what would have been the result of that? I whipped up a few spreadsheets to either justify my actions or remonstrate myself for wasting money.
Would I have done it instead of LTC? If you are a bit less risk averse with your investments and an interest in crypto-currency, take a look at these Australian guys making a Bitcoin mining ASIC device. In my previous Reckoner feature about LitecoinI came to the conclusion that I had three options on the table at that stage of my experiment mining the crypto-currency: Option 2 — keep mining at my current rate.
Option 3 — buy more rigs and mine even more Litecoin with the hope that the price rises. Option 1, the path of least resistance. To redeem something out of the experience, I can at least share with you what I did wrong.
If you are thinking about mining Litecoin or some other sort of crypto-currency, you can learn from my mistakes. However, I do have LTC in my wallet. What could I have done better? Unfortunately, this did not happen. I totally underestimated the sharp rise in mining difficulty too.
Less security if everyone waits for a fixed amount of confirmations e. If there's a fork where different groups of miners work on iwth chains of same length then that's ok, i. This analysis fraftions incomplete because it only takes into account the dilution in hash power of the honest miners, and not the fact that when the blockchain forks more frequently it means that calculaotr attacker with no hash power could scan litecoin calculator with fractions network and try to double-spend by broadcasting inconsistent transactions to the competing chains.
However, the probability of a fork by the honest miners to persist diminishes exponentially with the wuth of the forked chains. Therefore, a merchant can take precautions either by waiting ffractions more confirms, or by scanning the network and looking for an attempt to double-spend the transaction that he received. Waiting for the same fixed amount of confirmations means that even litecoun the probability of carrying out a double-spending attack isn't much higher than with slower blocks, the cost of carrying out the double-spending attack is cheaper: So an attacker could afford more double-spending attempts [9].
To be secure against an attacker who attempts to obtain the majority of the total hashpower, the longer the blocktime the better. The assumption here is that the attacker has kitecoin or relatively fast fractios to his mining equipment, and therefore doesn't suffer from dilution due to propagation lag as the honest network does. Another security risk arises with attacks that rely on network partitioning, for example if Europe and America lose internet connectivity then an attacker could spend his coins in both continents.
The relevant parameter in these scenarios is the absolute time until all nodes have enough time to communicate with each calculahor, not the frequency of generated blocks. Therefore, this isn't an inherent problem of the protocol, because waiting for 4 times the amount of blocks relative to Bitcoin would be adequate, or in other words the problem lies in the default amount of confirmations. If the number of transactions increases by an extremely large factor, it will require more computational tractions to validate an increased number of ECDSA signatures at each block.
With fast blocks, doing this validation in time could potentially be a problem: Myth - Point of sale with bitcoins isn't possible because of the 10 minute wait for confirmation Difficulty retarget The retarget block is in both Bitcoin and Litecoin, but because Litecoin blocks are found 4 times faster, the difficulty will retarget about every 3.
Pros When the computation power of the network reduces dramatically in the event that many miners suddenly quit, block generation would crawl until the next difficulty adjustment. Having a faster retarget mitigates this concern.
Cons Fractionx retarget window may lead to less stable difficulty lotecoin. For example, if a click the following article high amount of CPU power connects to the Litecoin network only litecoin calculator with fractions Sundays, not having any of that CPU power inside a 3. Unstable difficulty is bad if it doesn't reflect the hash power of the network accurately: Unstable difficulty might encourage chain hopping.
Less security from attacks that rely on lowering the difficulty. Total number of coins in existence The total number of litecoins that will come into existence is 4 times the total number of bitcoins that will come into existence, 84 wih compared to 21 million.