Litecoin is exactly like Bitcoin, but:
The hashing algorithm is CPU-friendly, meaning that having powerful GPU doesn't let you mine fast.
The difficulty of the blocks is set so they would be mined about every 2,5 minutes, instead of 10.
Other differences are cosmetic, like aiming to generate more Litecoins than there will be Bitcoins, using different port, ...
The most current list of Litecoin exchanges, originally from the Litecoin wiki, updated in December 2017 to remove nonfunctional exchanges:
The Rock Trading
UpBit - Korean exchange
Bithumb - Korean exchange
BTCTrade - Chinese exchange
OkCoin - Chinese exchange
Fixed rate exchanges Okpay
Litecoin mining is currently more profitable for likely all GPUs.
From the bitcoin and litecoin hardware wikis, you'd get 300-400MH/s for bitcoin mining and 340-470kH/s for litecoin mining if you set it up properly (and there is something VERY fishy about you getting 250MH/s with your CPU, I'd guess it is using your GPU though you don't know it...).
Because all transactions in both Litecoin and Bitcoin are stored in the block chain, you run into the same issue you do here if you were just to try and withdraw USD for bitcoins, i.e., does your intermediary store logs of the off chain transactions? When you buy LTC using BTC on Kraken, if Kraken decides to log this transaction then there is now a link ...
Merchants that only accept Bitcoin, will not accept Litecoin directly.
However you can pay any Bitcoin merchant with a 3rd party that automatically converts your Litecoin to Bitcoin. The most well known service of this type is shapeshift.io
Merchants can integrate their "shifty" button to make this easier for consumers to use, but the Shapeshift service ...
A Bitcoin or Litecoin address consists of:
a prefix byte
a 160-bit hash of a public key
a 32-bit checksum
all base-58 encoded.
Bitcoin and Litecoin use different prefix bytes; this is why most Bitcoin addresses start with 1, while most Litecoin addresses start with L.
When you use a Bitcoin client to try to send money to an address, it should perform a ...
The major difference between litecoin and bitcoin is the hashing function. Bitcoin uses SHA-256 while litecoin uses scrypt. scrypt "is designed to be far more secure against hardware brute-force attacks than alternative functions" . By hardware brute-force attacks they basically mean ASICs such as the ones coming out of butterfly labs. For instance the ...
I wouldn't suggest to mine with your laptop further more I wouldn't mine with a CPU any more. Your laptop can damage quite fast, because mining is very hardware intensive and it can overheat your components. After some time they will get damaged because they are not build to hold that power over a long period of time.
Your hashrate is quite low. With ...
I think that Tim S. may have the answer with his comment about endian-ness.
Your observations about the nonce having its lowest byte zero (being a multiple of 256), are with respect to the little-endian byte order of the block itself. From the perspective of a big-endian machine, these are statements about the high byte of the nonce.
So consider a miner ...
Well, Litecoin's main aim is to make mining easier for the common man.
The problem with pure SHA-256 mining is that it is not very hard to design hardware that can perform mining at an astonishing speed. We can see this with the currently very much ongoing rise of the ASIC mining industry.
Since scrypt is more complex when it comes to hardware - scrypt not ...
The answer is hidden in this forum post here.
"You have the same problem that is common in P2Pool threads, your miner is (relatively) slow compared to the size of the pool, as such you are not solving the required 1 P2Pool share every 24 hours (not the work your miner is submitting). You will get paid when your miner solves a share with a difficulty ...
Litecoin uses a different proof of work than Bitcoin, so that hardware won't be compatible(it won't be solving the right problems).
One of the motivations of Litecoin was to make CPU mining viable by making it difficult to create efficient GPU/FPGA/ASIC miners, so it's unlikely that you can find specialized hardware for this purpose. I think that some GPUs ...
You can't mine Litecoin with a Bitcoin miner. Bitcoin uses sha256 hashing, Litecoin uses Scrypt, which is about 1000x slower even when implemented in an ASIC, which is why you are calculating ridiculous profit numbers.
Irrespective of bullish or bearish outlook, there are two attitudes a trader can have in the market: active or passive.
Limit orders and stop orders are "passive" trades because they don't move market price. These types of orders are offers to buy or sell bitcoin at a certain price. Passive orders are placed in the exchange order book and remain waiting ...
Litecoin uses exactly the same procedure to generate addresses, the only difference is the network prefix.
On step 4 (Add version byte in front of RIPEMD-160 hash) instead of 0x00 for bitcoin use
0x30 for Litecoin main-net or
0x6F for Litecoin test-net.
Your address should start with L then and will be a valid Litecoin address.
0 - ...
If you want to allow connections from any machine, use:
If you want to allow connections from one specific IP address, put that IP address instead of *:
You can have as many of these lines as you like. Use one for each IP address you want to allow. And wildcards are also allowed:
While the process of spending Litecoins is extremely similar to Bitcoins, it is an alternative currency without a community accepted fixed exchange to Bitcoin therefore the merchant has to accept the work of conversion.
To the best of my understanding, Bitpay, bitmit.net and the other major markets and payment portals do not accept Litecoin. I'll refer you ...
Yes, there are designs for Litecoin mining FPGA bitstreams, but they are not very efficient currently. ASICs are much more efficient and if anyone finds it lucrative to invest in development of Litecoin mining ASICs, they will push out GPU mining. (The efficiency ratio between ASIC and GPU will be lower than with Bitcoin though).
Apparently I do not have enough points yet to give your answer a vote, but your solution also worked for me! Adding -T to the command line command did the trick. Not only do I now get a neat output of what is happening; the -T parameter also made the entire mining process actually work!
Before adding the -T command:
Screen flashed with the "Started CGMiner ...
Bitocin and Litecoin have the same problems when trying to buy them with funding methods that allow chargeback.This is mainly because of Paypal’s TOS (Section 3.7 here) and the fact that your can't chargeback Liteocin since it is considered as cash.
Having said that there are still a few ways you can buy Litecoin with Paypal or a credit card.
Use VirWox to ...
My guess is that you did not launch cgminer with the --scrypt option. This is required to mine Litecoin, Dogecoin or any other scrypt coin. When mining scrypt coins that card should deliver ~100 Kh/s in your screen shot it shows Mh/s which would indicate that you are using SHA256 which is for Bitcoin.
Seed nodes are important even for SCRYPT coins. You need to edit the source code in particular the DNS seeds and IP address seeds in the net.cpp file. You can run this on a VPS or any always on internet connection with a static IP address.
The DNS seed node resolves to multiple IP addresses that are all running their own *coind instance ...
Here is what I've gathered so far regarding the different version bytes for each type of Litecoin public address:
p2pkh L-address (LM2WMpR1Rp6j3Sa59cMXMs1SPzj9eXpGc1): 0x30
p2sh deprecated 3-address (3MSvaVbVFFLML86rt5eqgA9SvW23upaXdY): 0x05 (same as bitcoin's mainnet p2sh)
p2sh new M-address (MTf4tP1TCNBn8dNkyxeBVoPrFCcVzxJvvh): 0x32
It's the same: the proof-of-work is that the scrypt hash of the block header must start with a certain number of zeros (or, more precisely, be numerically less than a certain target value). However, the scrypt hash is not what's used as the block ID; rather, the sha256d hash (double sha256) is used instead. The sha256d hash doesn't have to follow any ...