Litecoin: profitability of cryptocurrency

Litecoin: profitability of cryptocurrency
Profitable Cryptocurrency

Litecoin: profitability of cryptocurrency

chiara
9 August 2015
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Litecoin (LTC), Scrypt :

difficulty daily average values 46,651.7685  -0.63 %

profit ratio vs. Bitcoin 283.22 %/ 281.53 %

the current highest exchange rate in BTC 0.01462500 (Cryptsy) -1.02 %
Litecoin is the result of some of us who joined together on IRC in an effort to create a real alternative currency similar to Bitcoin.  We wanted to make a coin that is silver to Bitcoin’s gold.  Various alternative currencies have come and gone.  Some brought innovation, but they all had problems.

  • ixcoin – Nasakioto premined 580k coins. Seemed like a pump and dump. Competed with Bitcoin for GPU resources – Dead (~2 gh/s)
  • i0coin – Basically ixcoin without the premine. Not much support was given to this coin after it was released. – Dead (~5 gh/s)
  • SolidCoin – Innovative quick transaction times. Appears to have been run aground by CoinHunter, its creator, due to insecure changes and immature forum presence. – Dead, shutdown by CoinHunter
  • GeistGeld – Lolcust premined 7.7 million coins.  15 second block time is probably a bit extreme. – Alive, but limping (~15 gh/s)
  • Tenebrix – Lolcust premined 7.7 million coins.  CPU proof of work using scrypt is very innovative.  Price doing fairly well on btc-e.com. – Alive (~0.003 gh/s)
  • Fairbrix – Basically Tenebrix without the premine.  First launch was crippled due to bad config.  Relaunch attacked initially – Doing OK now, but no exchange so far. – Alive, but limping (~0.0001 gh/s)

We wanted the best innovations of Bitcoin and these other currencies to create a coin with all of their benefits, but nearly none of their problems.

Source codeThe source code is here:
https://github.com/litecoin-project/litecoin

This is based on the latest Bitcoin code. You can either build the daemon version (litecoind) or you can build the gui version (Litecoin QT). See the build docs.

Similar to Bitcoin, you may want to create a litecoin.conf file here:
Windows: C:\Documents and Settings\<username>\Application Data\Litecoin
Win7: C:\Users\<username>\AppData\Roaming\Litecoin
Mac: ~/Library/Application Support/Litecoin
Unix: ~/.litecoin

Port is 9333. Open if on your router if you know how. This will allow you to have more than 8 connections.
And default RPC port is 9332. This is the port miners will use to communicate with your client/daemon.

Sample litecoin.conf file:

Code:
server=1
rpcuser=user
rpcpassword=password

#Change this if you want to use a different rpc port for mining
#rpcport=9332

#Only uncomment this if you are running litecoind and want to run Litecoin in the background (not Litecoin QT)
#daemon=1

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