Litecoin difficulity hashing on Prohashing vs pure ltc pools

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tradewiz
Posts: 42
Joined: Sun Sep 13, 2015 11:37 am

Litecoin difficulity hashing on Prohashing vs pure ltc pools

Post by tradewiz » Wed Nov 30, 2016 1:48 pm

This may be a stupid question, but I actually dont know the answer:
Prohashing generally mines other coins than LTC although sometimes it does LTC as well. I realize there is a correlation between other scrypt coins difficulity and LTC difficulity, but would it be better for the overall LTC difficulity if miners used prohashing instead of only mining LTC? I assume it is, at least up until a point where the total hash of prohashing would be so high that the other coins would be insignificant.

Any views?
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Chris Sokolowski
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Location: State College, PA

Re: Litecoin difficulity hashing on Prohashing vs pure ltc pools

Post by Chris Sokolowski » Thu Dec 01, 2016 3:56 am

Of course, moving any Litecoin miner to a network other than Litecoin will reduce Litecoin difficulty. The more hashrate we get, the more we will tend to level out the profitabilities of all coins. Theoretically, if every single scrypt miner was pointed at this pool, hashrate would be distributed proportionally to the coins' prices since the price determines the optimal amount of hashrate to assign. So, in this theoretical scenario, a coin with a sell price of 0.1 would have 100x more hashrate and a 100x higher difficulty than the coin with a sell price of 0.001 (assuming the same target block time).
GenTarkin
Posts: 135
Joined: Wed Dec 02, 2015 10:52 am

Re: Litecoin difficulity hashing on Prohashing vs pure ltc pools

Post by GenTarkin » Fri Dec 02, 2016 10:42 am

Consequently, if coin hopping became unprofitable(in the case of a majority of miners , rather than a minority, doing it) ... all the hashrate would go back to LTC and you would see difficulty skyrocket even when no additional mining hardware being put on the network.
Its really an interesting dynamic to observe =)
tradewiz
Posts: 42
Joined: Sun Sep 13, 2015 11:37 am

Re: Litecoin difficulity hashing on Prohashing vs pure ltc pools

Post by tradewiz » Fri Dec 02, 2016 3:48 pm

Well I think the lesson to learn is to stay on prohashing! :)
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