The difficulty of adjusting the first mining after the 5% of the Litecoin is reduced. The Litecoin mining machine needs to be shuffled.
The Litecoin currency was halved. At 18:16 on August 5, LTC reached the block height of 1680000, and the block reward was officially halved from 25 LTC to 12.5 LTC. This is the second production reduction of the 8-year-old Litecoin. The first production cut was August 28, 2015.
As early as six months ago, the reduction in Litecoin’s production was seen as the turning point in the rise in the price of the currency. In December last year, the Litecoin began to bottom out, rising to $145 on June 22 this year, seven times the price at the end of last year.
As some analysts believe, the halving of the market starts early, but after halving, the miners will face a real crisis.
Three models arrive at the shutdown price, four are on the verge of shutdown
At present, the Wright coin mining machine is mainly ant mining machine L3+ and ant L3++, in which L3+ consumes 800 watts, consumes about 19.2 kWh per day, and the revenue is only about 0.008 LTC, equivalent to about 5.7 yuan (0.8112 US dollars). Electricity costs are calculated at an average of 0.26 yuan ($0.037), and photovoltaic expenses account for more than 87% of revenue. After halving the output, the Litecoin rewards dug up will basically cover the cost of electricity. On the day of halving, the sacred fish released Weibo said that at the current Wright currency price, the ant L3+ can be turned off almost at night. COO Zhu Xi of the coin-printing pool even believes that L3+ will face a situation of “selling for money” due to the decline in energy efficiency.
In fact, at around 2 am on August 8, the Litecoin ushered in the first difficulty adjustment after halving, a drop of 4.5% to 15.23M.
However, after the difficulty adjustment, the overall situation did not change much. The mainstream miners ants L3+ and L3++ are still in the “off” state. The Pansi mining machine X6, the core mining machine A4+ and A6, and the Jinbei mining machine X5S are only one step away. If the LTC price continues to fall, the shutdown is a sooner or later action.
For the ant mining machine L5 that has not been sold, some miners expressed concern about the future before halving, and thought that L5 will become scrap iron with the completion of halving. Golden Finance contacted the relevant person in charge of the ant mining machine. Before, I have not received a reply.
Mining machine ushered in shuffling
After 21.65 hours after completing the halving on August 5, Li Qiwei released Twitter that 504 blocks have been mined since the halving. In general, 504 blocks take an average of 21 hours. This means that 97% of the calculations before the halving are still mining LTC.
In this regard, the sacred fish said that it may be reluctant to shut down, after all, the cost of a closure is also a cost, and hydropower also has a default cost.
In addition, some industry experts said that the mining machine may usher in two big washings. The current main mining machine of Wright Mine is the L3 series. After the halving of these mines, the mining revenue will be halved. Some of the Wright currency mines operating at high electricity prices will face the dilemma of mining directly than the direct purchase of coins. The shutdown is an inevitable event. However, there are still some mines that have an advantage in electricity tariffs and still have good mining revenues after halving. Moreover, with the closure of some mining machines, the difficulty of mining is reduced, and their mining revenue has increased. In this case, a large number of mining machines flow from high-priced electric mines to low-cost electric mines to complete the washing of a mining machine.
In addition, in order to prevent the whole network from being too low, it is attacked by 51% of the calculation power. If there is not enough price to support the mining revenue, there will be a new high-performance mining machine to the market to ensure that the Wright miner is reducing. After half of the year, it still retains the objective mining income and participates in the maintenance of the blockchain of Litecoin. When the new mining machine reaches a certain level, the mining revenue of the original mining machine will be further compressed until the mining market of Litecoin is launched. This is another washing. Of course, the time required will be longer, because at present, the performance of a higher performance mining machine, a large number of distribution time is still very long.
For this production cut, most miners are still in a more pessimistic mood, the miners will encounter the legendary "mine disaster" shortly after the production cut. The income from mining is not as good as the electricity bill. Some mine unions shut down to evade a period of time.
Some experts believe that this is only a very short time. After all, technology is developing, and the LTC Litecoin mining machine will have a higher computing model developed. Production cuts will also push LTC prices up to some extent. For the miners, it is only this difficult transition period that needs to be spent. I believe that there will be a good turnaround soon. As far as the current currency price and difficulty are concerned, although the production will directly affect the income after the production is reduced, some miners with higher electricity tariffs will be shut down or find another method. But we don't have to be so pessimistic, we can use some methods to deal with production cuts.
