Hash Rate Size & Estimates

Best Cloud Mining Company Litecoin GEAR's TOTAL Hashrate 34.80% of Litecoin Network Total??

2014/10/25

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As of today, Sept. 28th, 2014, the BEST cloud mining company in terms of price per hashrate, is Litecoin GEAR (Ltcgear.com)

Litecoin GEAR currently offers 5.76USD/MH/s (plus 8% less if you pay in bitcoins) for scrypt cloud mining, which puts them at #1 in price among all scrypt cloud mining companies, based on our research.

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However, the details of their operations, including their total hashrate remain anonymous.

This must have been a topic of interest to existing Litecoin GEAR users because one litecoin forum member has put together an estimated total hashrate of Litecoin GEAR based on self-declared hashrate values from existing Litecoin GEAR owners.

The document is open to all here.

It shows which member owns how many ASIC Shares at Litecoin GEAR (1 ASIC Share=100KH/s) and what percentage of the pie individual members' hashrate represents in the total estimated Litecoin GEAR network.

The total hashrate at this point is at 59.38GH/s, representing a total of approximately 5.80% of the Litecoin Network Hashrate.

Although this is just an 'estimate' and since these were 'self-declared', there is room for error, and since there must be many Litecoin GEAR users who have not yet disclosed their share ownership (we, for example, haven't yet taken the time to post our ownership of 8,640 ASIC Shares), it shows that Litecoin GEAR's total hashrate may indeed be QUITE LARGE.

It is said that internal surveys (ex: employee surveys) yield a 30-40% response rate, where as external surveys (ex: customer service surveys) yield a 10-15% response rate.

Assuming this survey falls under external survey and we take the highest response rate of 15%, Litecoin GEAR's network share jumps from existing 5.80% to 34.80%!

Bitcoin infrastructure company and bitcoin processing company Bitfury claims that 40% of all bitcoins mined are using their chips, but something similar could be happening at Litecoin GEAR for scrypt cloud mining

Of course, these are all conjectures, but it is something to ponder about.

Thanks for Litecointalk.org forum member 'Sy' (link could not be provided as litecointalk.org's individual URLs are only accessible to members (free)) for initiating and compiling the data!

 

UPDATE (10/2/2014) : Due to request from Litecointalk.org members, images of google docs along with referral link for this article has been taken down.  Our apologies to members who were offended in any way.

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