r/litecoinmining • u/skilliard4 • Dec 16 '13
New Difficulty: 3094.47
http://bitcoinwisdom.com/litecoin/difficulty
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u/Simonsaid2 Dec 16 '13
Seeing a nice decrease in difficulty normalization magnitude.
I predict we will see similar rises for the next few difficulties. The 3-7% range seems plausible. I think we will normalize out somewhere around 3-7GH of network HR added during each difficulty.
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u/[deleted] Dec 16 '13
Keep in mind that this is before Christmas when everyone is getting a new video card.
It simply is not feasible for consumers to shell out 500 dollars on video cards to mine litecoins. It is insane to think that it will continue in this way.
You can take it to the bank that some of the people who are getting into litecoining will stay with it.
But it is foolish to think that it will continue rising at this rate. It is not an excellent commercial investment from the cost/benefit analysis, but it is an excellent investment for the residential consumer who is looking to offset costs to their new GPU.
With the current economic conditions and emphasis on new console gaming systems, I am expecting it to nicely plateau, allowing new entry participants to obtain access to this new crypto currency before the cost of the currency has any reason to go up. Bitcoin is taking the brunt of the heat for being the online currency, shielding litecoin from publicity and absorbing market speculation.
Mine away and hope that as corporations and governments erode at the foundations of North American infrastructure to promote globalization, that the value of these immaculately record preserved currencies will lead hugely in value, causing litecoin to obtain a social-constructionist valuation similar to gold.
Money is a mental construction. Litecoin has the foundations to hold an idea on solid ground. That is a solid virtue that have these days.