What will happen to Litecoin? The miners’ reward is now 2 times smaller

What will happen to Litecoin? After all, the miners’ reward is now 2 times smaller.

Recently, there was a halving in the altcoin network. As a result, the value of the coin briefly exceeded $100. This may affect the profitability and mining of this cryptocurrency.

It became known that on August 05, 19, miners received a reward for mining Litecoin that was half as much as before. A halving of the digital currency occurred on block 1,680,000. It is likely that the next one will occur in exactly 4 years.

Charlie Lee, the creator of this “digital gold,” spoke about the upcoming event on Twitter. He also noted that the miners’ reward has decreased from 25 to 12.5 litecoins.

What can this affect? S. Arestov, co-founder of BitCluster, explained the following. In fact, such an event can lead to the fact that for most of the miners who mine LTC coin, it will become difficult to generate Litecoin to compensate for the cost of electricity. The expert also believes that in the absence of a sharp upward jump in the exchange rate, halving the miners’ reward significantly reduces the payback period of devices running on the Scrypt algorithm.

According to the expert, given the inflated cost of electricity, Litecoin mining may be on the verge of profitability. Not everyone will be able to simply pay electricity bills with real currency and collect LTC, hoping that it will grow. Arestov believes that the mined coins should be sold immediately, then the income should be taken and the electricity should be paid off.

M. Gribkov, the deputy president of CryptoUniverse, has his own opinion on the matter. He assumes that halving will have a positive impact on users, and mining will not stop. Those players who have the ability to pay for electricity in advance will continue their activities without any problems. Most likely, domestic players will be forced to mine another digital currency.

“The complexity of mining does not need to be adjusted. This process will take place independently, without anyone’s interference. Immediately after halving, the network complexity will not drop significantly. Perhaps, even on the contrary, it will gradually increase. New miners with higher performance will soon appear,” the expert said.

Today, the average market price of LTC is $104. However, immediately afterwards, the price dropped below 100 again. Currently, the digital currency has reached $99.5.