LTC computing power

1. Preface: please make sure that you have a basic understanding of electronic money (especially cryptography money) before reading this article, and understand the basic knowledge of "POW workload proof mechanism", timestamp and block chain system, decentralization, etc., which will not be repeated here

bitcoin is rising wildly, and e-money has set off a wave of speculation. Light currency (LTC) soared more than ten times, reaching a high price of 300 yuan. At the same time, a large number of counterfeit coins appeared, and the increase was amazing. It's not unusual to see them rise several times a day. E-money market has shown a strong speculative, investment risk has emerged. But is bitcoin the only winner? Is there any other e-coin that can "" the miracle of bitcoin, or even surpass it

assuming the success of e-money in the future, some people say that we only need one e-money. If the number of bitcoin is limited, it's OK to use mbtc or smaller units to trade when the price is very high. Other electronic coins are repetitive and meaningless

let's see how bitcoin has changed from "meaningless behavior" to a successful case, and what experience can be summed up

firstly, based on the combination of private key and public key of electronic cryptocurrency, bitcoin creatively proposed the block chain mechanism, as well as the binding of mining (protecting the whole network) and currency issuance rewards. And the implementation of a constant total to create deflation expectations, difficulty automatic adjustment to ensure fairness, as well as competitive mining and competitive block branches, to maximize the protection of the interests of the holders and miners, to achieve a win-win situation

this mechanism mobilizes the enthusiasm of miners and forms a virtuous circle. BTC rises, calculating power rises, calculating power rises, BTC is more stable and has higher value, so as to promote the price to continue to rise. Until now, bitcoin has formed an indestructible block chain system, which is the most valuable part of the bitcoin system, ensuring the maximum security of bitcoin holders, as well as the decentralized network structure, ensuring the openness and fairness of the bitcoin world. Social capital has invested a lot in bitcoin, forming a whole instrial chain. This is the value created by bitcoin from scratch. Although there are speculative factors, to a certain extent, the market value of bitcoin reflects this value

BTC market value: http://blockchain.info/charts/market-cap

BTC calculation force: http://blockchain.info/charts/hash-rate

but does this mean that bitcoin must be the most successful, and it will forever occupy the market share of the whole e-money in the future without further improvement

next, I'll make a comparison with LTC. Instead of recommending buying LTC, I'll talk about whether LTC can solve some problems of BTC and whether it will cause some new troubles< First of all, BTC has the following problems:

1, long confirmation time

I casually selected the current mining records and found that the block confirmation time was too long. First of all, the BTC default 10 minutes out of the block, has been a relatively long time. For some deals, it's a time of impatience. And because the difficulty is already very high, the block time is further uneven, sometimes it is normal not to block for 20 minutes. These 20 minutes, together with the confirmation waiting time and other processing time of various trading websites, often result in extremely slow recharge and withdrawal speed. It is common to wait for an hour. Waiting for a bitcoin transaction is really a boring thing, which limits its application in reality. Even for this reason, a third party, similar to Alipay's third party centralization letter, is needed to solve.

the two-and-a-half block time of LTC greatly alleviates this problem. An LTC transaction will be completed in a short time without any anxious waiting. It can be said that LTC solves the problem of BTC

2, centralization

although BTC claims to be a decentralized currency, it is relative to legal currency. In practice, e to historical problems and ASIC mining machine problems, BTC's centralization problem is very serious, which can be discussed from two aspects

the first is the centralization of computing power. Although ASIC mining machine is inevitable in history, BTC is rising rapidly, so the centralization of computing power is very serious. It can be seen from this picture that the first and second mines are ready to start 51%. Although it is said that 51% will destroy the whole network, which is not good for the mining pool, bitcoin is a place outside the law after all. Everything is guaranteed by mathematical formulas and algorithms, and credit is established voluntarily. In the face of huge profit temptation, it is inevitable that nothing will happen, or the confidence of the holders will be affected. This is not good for bitcoin

some people say that LTC will develop special mining machines sooner or later, so as to enter the era of centralization. I think there is a degree of problem. After all, it is a fact that bitcoin mines are seriously concentrated, and as long as the concentration of LTC is lower than BTC, the risk can be smaller

the second is the centralization of holding money. I don't have statistics of LTC holding currency here, but I have statistics of BTC holding currency. This centralization of holding money is appalling. This means that a very small number of people control the vast majority of the wealth of the entire network. Of course, some addresses belong to the exchange, but this is absolutely very serious differentiation. Here's the data: http://btc.ondn.net/search

and the centralization of computing power aggravates this situation: half of bitcoin has been g out and concentrated in the hands of a few people, and then the rest that has not been g out will also be g out by a few people (because of the concentration of computing power). The new people have no choice but to pay for it

although some people refute me that since BTC is valuable, it should be exchanged with legal currency. The problem is that when the existing BTC has been monopolized, the future BTC will also be monopolized, and the price is not set by the buyer. It's like everyone says that China's real estate is unfair. If the existing houses are controlled by a few "real estate uncle" people, The land development in the future is also tightly controlled by the Bureau of land and resources. Isn't it true that the common people have to pay for it, and how much they will pay for it is up to them

- the original attitude towards real estate changed when it came to BTC. Of course, the reason is that the bottom of the BTC holder determines the head. As if you bought a few suites, you will say that the real estate market is fair

by contrast, LTC has only g up a quarter of the total, and the computing power is relatively average. Any ordinary people can buy a graphics card to dig their own mines. At least the new LTC can be obtained at a relatively balanced price. From this point of view, if the overall value of e-money needs to be increased by 10 billion or even 100 billion US dollars in the future, then adding all of them to BTC will only lead to a few people becoming millionaires of 100 billion US dollars, which is obviously not the original intention of developing e-money< There is a serious problem with Nakamoto's BTC, which is that Nakamoto has more than 2 million BTCs. Now we are willing to believe that Nakamoto is a good man and a God, but how can we trust an indivial when we believe in mathematics and physics? On the premise of minimum trust, Nakamoto is also a mortal. If the market value of BTC is large enough, Nakamoto's goods will become a time bomb. Even if he doesn't drop the price, he becomes the God of the world and has the most wealth. Not to mention that some BTCs confiscated by the FBI will be auctioned sooner or later. This good thing that has contributed to the American people will be left to the people of the world

LTC does not have this problem. The history is very clean. We dig together and everything is open. When digging LTC, many players already have BTC experience, so the mining is relatively balanced at the beginning, and there is no private situation such as the founding team stealing. This has laid a good foundation for LTC.

4. Whether the gold silver ratio is applicable to BTC and LTC is a funny question, which just shows the ignorance of public speculators. Bitkin, Wright silver, said that this statement of the media is a manifestation of extreme ignorance

first of all, is the value of e-money related to the circulation? If the circulation of LTC is a quarter of that of BTC, is the value of LTC a quarter of that of BTC? If I issue a kind of NCC with brain damage now, with only one circulation, should the price be 9999999

it's just as ridiculous to anchor the issue volume as to compare the circulation of stocks. Money can only be valued by the total market value. It's meaningless to talk about circulation. As for the gold and silver ratio, it's a big laugh. The ratio of gold and silver is determined by the instrial value and output of gold and silver. Electronic money has no value other than monetary property, and there is no such thing as output and reserves. The output and reserves of money are only monetary units. If you don't understand this, you can go back to the furnace

moreover, BTC and LTC have direct exchange markets, and their proportion is the result of market game, which is the short-term optimal solution in itself. There is nothing to say. What the market says is what it says, which has nothing to do with the current market, let alone gold and silver

5. About Shanzhai coin

some people say that LTC is also a kind of "counterfeit" currency, which has no value. Some people think that with so many counterfeit coins, you can fry any one that is not. I think both views are wrong

first of all, BTC is an open-source e-coin, and the word "Shanzhai" itself contains a strong central idea in the minds of the Chinese people, hoping that an Immortal Emperor or Nakamoto congda God has made a kind of immortal coin, and the others are all from "Shanzhai". In the open source world, everyone has the right to make money. Any money is "counterfeit" money. Bitcoin was worthless before, and its value was given after the market recognized it. As long as another currency can also be recognized and accepted by the market, it is reasonable to give it a market value, and the amount of market value given is also determined by the market, which may not exceed bitcoin

assuming that the long-term market is effective, excluding speculation, whether a currency can be given value by the market mainly depends on several factors (I personally think)

2.

According to the domestic bitcoin, lightcoin trading platform bitcoin China and fire coin network quotation: at present, the price of lightcoin is about 58 yuan

recently, e to the FBI auction of bitcoin and the rumor that the Bank of communications will thoroughly investigate the account number of bitcoin trading platform and the impact of bitcoin core developers' outcry for stagnation in the development of bitcoin basic protocol, the prices of bitcoin and lightcoin have dropped. Among them, the price of lightcoin has not been affected by the rising price of bitcoin. The price is moderate and keeps growing slowly. When the price of bitcoin falls, lightcoin still falls

extended data:

design purpose

based on bitcoin protocol, but different from bitcoin, even at the present stage, it can efficiently "mine" through consumer hardware. Liteoin provides you with faster transaction confirmation (2.5 minutes on average). It uses hard memory and mining workload proof algorithm based on scrypt (an encryption algorithm). It is oriented to ordinary computer and graphics processor (GPU) used by most people. The litecain network is expected to proce 84 million currency units

one of the design purposes of litecoin is to provide a mining algorithm, which can be run simultaneously on the bitcoin mining machine. With the rise of application specific integrated circuits (ASIC) designed for bitcoin mining, litecoin is also closely following the technological evolution. But before the widespread use of litecoin currency, it is unlikely that there will be an application specific integrated circuit (ASIC) specially designed for litecoin

3. Compared with struggling repeatedly in the 2000-3000 range in April, the current price is more than 3000, but the popularity seems to be even colder. Compared with the price at that time, the lightcoin has fallen by half instead of rising, and the LTC / BTC exchange rate has dropped by 1%
however, once it reaches the bottom of the market, it will start to warm up. Don't forget, last year was a big bull market after LTC / BTC fell below 1%

will LTC return to zero
I don't think so. I'm not saying that LTC will not fall any more. I'm just saying that if BTC has a bull market in the future, LTC will certainly have a bull market. The essence of LTC's current decline is that the niche coincides with BTC, which has no characteristics and application. The myth that scrypt algorithm can resist mining machine has been shattered

but what about other counterfeit coins
e to the strategy of fast halving, the computing power of dog coin is far from enough to compete with LTC. In theory, other algorithms such as X11 and x13, which are known to be able to resist mining machines, will be cracked sooner or later. In fact, coins such as mark and black, which are characterized by anonymity, are not very competitive. Anonymity is just a small demand, Can you imagine that money will be completely anonymous in the future? Anonymity is always just a small demand
I saw a "dark forest theory of cryptography currency" before, and I really forgot who put forward it in the circle. What I said was that under the premise of mining machinery, the currency of sha256 algorithm is easy to be killed by Avalon, so it doesn't grow very long; Now scrypt algorithm mining machine comes out, who is the master of this algorithm field? It can only be LTC. After a lot of currencies fall to a certain extent, they are in danger without the support of computing power. They speed up the capital flight, then speed up the escape of computing power, and enter the dead cycle. It's very difficult to get out and finally die slowly
dog coin is now in such a cycle. Coupled with the fact that it has been halved too fast, the escape of computing power is more obvious. Without computing power, the pow coin is a joke. The system is weak, and the big money can only go out, but the price has been falling, so can computing power. In addition, dog is just a fad culture, just like Jiangnan style, Who else is singing in the street now? Therefore, the prospect of dog coin is very bad. The dog coin is like this, and other scrypt coins are not worth mentioning. It seems that LTC dominates scrypt algorithm
BTC applications are colorful and LTC applications are scarce, which can't be compared. However, other currencies don't seem to have any applications either. All kinds of second-generation coins are too busy to worry about. Therefore, it's not a problem. When BTC rises sharply, it's expected that LTC will rise more than BTC
of course, I'm not encouraging you to buy the bottom. I haven't entered the LTC since 60
References: http://zl.yibite.com/point/2014/0814/13553.shtml

4. It means calculation force
in the long run, the difficulty is increasing and constantly changing, so how much can be g is not stable.

5. It mainly depends on speculation,

bitcoin and Leyte coin are virtual commodities,
the price can be manipulated by speculators,
there is no regularity.

6. [UNK][UNK]数据[UNK]B1[UNK]输[UNK][UNK]列[UNK][UNK]
=IF(A1< 0," [UNK]",& "" ";)" IF(TRUNC(ROUND(A1,2))=0,"& " TEXT(TRUNC(ABS(ROUND(A1,2))),"[ DBNum2]")&" " 圆& quot;)& IF(ISERR(FIND(".") " ROUND(A1,2)),"& " TEXT(RIGHT(TRUNC(ROUND(A1,2)*10)),"[ DBNum2]"))&" " [UNK]"& IF(ISERR(FIND(". 0." TEXT(A1," 0.00")),& "" ",& "" ";)" IF(LEFT(RIGHT(ROUND(A1,2),3))=".& " TEXT(RIGHT(ROUND(A1,2)),"[ DBNum2]")&" "" ",& "" ")&" " [UNK]"

7. Hello, you can't buy a hoe for the mobile version of legend of hot blood. Mining method, click the calendar in the upper right corner of the mobile & gt; Daily activities & gt; Slide up the screen to select mine, and click go. It will automatically find the way to find the foreman, transmit it to the mining map, enter the mining map, and a hoe sign will appear in the lower right corner of the mobile phone. When the character is close to the wall, click the sign to automatically mine. It can only dig for half an hour every day, and it will be automatically transmitted to the foreman after half an hour. The mining map is only transmitted to the foreman.

8. Search Zotero's browser plug-in on the Internet, Download (decompress) and get a CRX file. You can decompress it with compression software to view the source code, including JSON, HTML, JS and other files. Equivalent to a web control, but this installation in the browser may work on all the web pages you browse. However, it's hard to understand the source code directly. I'm also learning how to make browser plug-ins recently. I hope you can share some good learning methods~

9. Illegal fund-raising refers to the behavior that an entity or indivial raises funds from the public by issuing stocks, bonds, lotteries, investment fund securities or other creditor's rights certificates without the approval of relevant departments in accordance with legal proceres, and promises to repay the principal and interest or give returns to the investors in currency, material object or other ways within a certain period of time
the crime of financial fraud refers to the act of defrauding public or private property or the credit of financial institutions and damaging the order of financial management by making up facts or concealing the truth for the purpose of illegal possession.