Litecoin vs bitcoin 2014 gmc
However, there are some important distinctions to remember between the two cryptocurrencies also. The founders of Litecoin decided to make their currency more efficient to mine using just consumer-grade hardware. This ease in mining also means that Litecoin transactions are much faster to process. And whereas Bitcoin is limited to a production run of 21 million units of currency, Litecoin will up the ante with 84 million total units of currency.
One mines Litecoin by running free open-source software cgminer is a popular choice in specially-built low-power-consuming hardware. The software utilizes hardware to solve certain complex mathematical functions that are used to verify the authenticity of currency transactions. In exchange for providing this valuable service, successful miners are rewarded with a certain amount of Litecoin units. Fortunately, low-power hardware designed just for solving these complicated mining calculations measured in Million Hashes per second is available in the form of ASIC Application-specific integrated circuit and FPGA Field-programmable gate arrays chips.
As far as a new litcoin miner is concerned, the main differences between the two technologies involve power usage, hash speeds and the up-front cost of setting up the dedicated hardware for mass manufacturing. Luckily, as we will discover in the next paragraph, litecoin miners do not have to worry about this difficult step as there are many new Litecoin mining companies that already or plan to offer powerful dedicated hardware.
Making it the fastest Litecoin miner and all other Scrypt coins, like dogecoin on the market Amazing once again. Products are tentatively scheduled for shipment around the second or third quarter of However, although the final designs for the products are complete, no prototype has been delivered yet.
Additionally, there is no word on the cost to buyers for the different variants of the hardware. We also do not have a final date on when the products will begin shipping. They offer 2 separate products: They are already taking deposits now and are targeting March for completing product development.
This Australian company offers a variety of products for digital currency miners. Preorder is available now and the first batch is likely to be shipped in February There is also a second, higher-powered version of the FPGA-based chip. The company claims the initial results so far have been very encouraging. No word yet on how many millions of hashes we will be able to uncover per second, or even just how much such a dedicated hardware will cost.
We also have no idea if, or when, the product will begin shipping. But one thing we can say for certain is that any ASIC chip designed specifically for Litecoin will get our attention when it is available in the market.
Time will tell if this will be the best litecoin miner on the market. You can't comprehend that fair wealth distribution is an important factor for an effective economy. Sierra Leone has one of the worst income equality for instance while Japan has one of the best. Now try to compare the economies of those 2 countries and call Japanese "communists". The funny thing is that people like you will mostly be first to whine about fairness when someone just takes something from you by force.
I think I am the biggest capitalist, but I have values and morals, I don't drink people's blood in order to make some profits or gain a better position, this way of Communism thing exist only in your dictionary, I would think of it as a human rights You equate a more even spread of litecoin with fairness compared to bitcoin.
That is communist thinking. Equal distribution of resources. I know perfectly well why the distribution looks the way it does. You are missing the point. You used the word fair about it.
That's just another form of superstition. A rationalization to justify your position. That you think it is fair does not mean it will work better, comrade. There will always be people who have more money than others. If lite somehow became bigger than bitcoin it would happen again.