I can not see a reason NOT to mine LTC - please help!

Hey Guys, first post!

i need some brain support :slight_smile:
my thoughts are swirling around buying 3 antminer L3+ (or maybe wait for the next gen…) and start to mine Scrypt based Coins, primarily LTC.
i’ve found a good calculator and inserted my stats. look here

  1. Yeah, power costs are that much where i live. switzerland. eff-ing expensive over here.
  2. if you put the max. difficulty change it which is possible without “!!” (i could insert 230k / month) …
  3. …and you change the graph to 12 months:

there is stil like 150 LTCs to make in 12 months.

Lets say LTCs are 200$ in the end of 2018. And we all know: as we all are hopeless optimistics in terms of Cryptos, this is a very humble and conservative guesstimation!

STILL

If there is 150 LTCs to make and every each is 200$ (at least!) in the end of 2018. Thats 30’000$.

if i would buy the same amount (150 LTCs) now, i had to invest around 7500$. On alibaba you get for less than that 3 Antminers…

SO MY BIG QUESTIONS NOW:

  • Are you with me?? Or am i overseeing something verrrrryyy obvious and stupid?

  • How much maintanance does a mining rig acutally need? i have no exp in mining at all.
    do i need to check the “microfarm” every day or is this easy done remote? how well are antminers working?

i calculated that NOTHING at all is near as fast for the price. so yeah, maybe the miners are not the best quality. but i do not see the profit, when i have to buy 100 GPUs for like 400 bucks each…

i’m looking forward to hear your thoughts! :slight_smile:
cheers!

EDIT:
something is not right with the link - i leave it anyway, maybe on your pc the stats are filled right. here a pic of my stats:

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I would be interessted in this topic too.

Where do you live in CH? In my hometown (also switzerland) we pay around 13 rp (average) (16rp höchtarif, 10rp niedertarif)

You could also buy 150ltc for about 7k

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Hoi :slight_smile:
I live in Zurich.

Yes, thats right. But then you “only” own the 150ltc, fix.

with mining you are more flexible.

  • say, if there is a new cryptocurrency which makes the way to the top. start mining them!
  • the amount of LTC’s you own is growing day by day
  • since the Antminers are chinese built, you can buy them on alibaba for cheap (and expensive. you have to dig thru the suppliers to find a good offer)

Lets say the investment is 7k both ways. the possibilities outweight with mining.
thats why i’m so concerned about the maintanance. how “standalone” is this working. how reliable?
if they only work right for 3 months, TJA, your fuc…stuffed…

En schöne sunntig no! (Nice sunday! in swiss-german)

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I think I would rather just invest it in the top 5 crypto’s. That flexibility depends on if the hardware isn’t killed from full speed mining after a year. But, that is just me wondering, I have no experience with mining hardware from Bitmain.

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i already have invested. but not that much. and yeah, i will invest more :slight_smile:
i’m just very curious if mining really is that profitable (scrypt mining) as it seems. it just could be a good money-making-hobby

me neither. but it looks not that hard - at least :sweat_smile:

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I’m not sure you could receive the block reward like you have entered it. If you self mine, I was under the impression that getting a block reward was extremely rare. And if you mine with a pool, you share that reward with everyone. I could be and probably am wrong though.

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Thank you for the input scionero.
i admittedly have no clue! thats why we are talking here right?! :slight_smile:
but i think the profit from the first calculator is legit. here is the calculator from litecoinpool.org with the same settings.

The Result (in Dollars) is similar. so yeah, i think this is already the share of a block reward, indeed. :face_with_raised_eyebrow:

shout out for a Captain, Please explain

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Crypto-Erol, another option might be a self built rig?

@Peter Why did you choose self built mining rig over a Bitmain?

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http://whattomine.com/coins/4-ltc-scrypt?utf8=✓&hr=1500.0&d_enabled=true&d=1782789.511&p=3000.0&fee=1.0&cost=0.1&hcost=7000.0&commit=Calculate

That’s assuming a 1 million difficulty increase, and is still showing as 150 LTC in a year.

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Yes, @peter pls explain.

@Rick self built rigs are, what i have calculated, not profitable at all. some rough calc:

cheapest GPU i can get with 8GB RAM = 300$
according to this forum (sorry if not okay, i delete it), the hashrate is 26.5, lets say 27MH/s

to get to 504MH/s for one (!) antminer L3+, you have to buy & install (work, much time) 18 RX580 GPUs

Thats like 5400$ :hushed:

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buying 150 LTC right now will cost around the same…my gut is telling me that the risk with the hardware isn’t returning enough opposed to just buying 150 LTC (or even better: invest like it in a diversified portfolio).

i do get the hobby aspect of it though.

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GPU mining litecoin is really inefficient. With that many GPU’s you would mine zcash, ethereum, something like that.

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@Scionero did you put that 1million plus in or is that an assumption from whattomine?
if you assume that 1million plus, how did you assume it? i have no idea how to estimate this correctly.

the profit is then not much at all. but is it considering the increase of value?

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I put that in as just a guess. When the new l3+ batch comes out the difficulty is going to spike, but I have no idea to what level.

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https://www.coinwarz.com/difficulty-charts/litecoin-difficulty-chart

If you look at August 30 to September 10, the difficulty went up almost 250k. But then it dropped down again for a bit. So who knows where it’ll go in a few months.

Playing with the numbers further, even if the difficulty goes up 3 million, you would still create 6 ltc a month. Potentially $600+ depending on value.

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I like having full autonomy over what and when I mine

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Nice, thank you for the link. so it really seems to be profitable anyway. still, the questions about reliability is bothering me.

as said, i invest anyway :slight_smile: but mining would be a cool hobby!!

@peter and is the full autonomy worth that much cost? or in other words: in which way are you limited by mining with prebuilt rigs?

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Why do you sorta even out your risk, instead of getting 3, just buy 1 antminer l3+. The rest of your budget or maybe the exact same amount you would pay for the miner, just buy LTC with it. See which side would perform better. Just my 2 cents.

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Having full control over your own machines and your own destiny is almost always worth the cost :slight_smile:

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not a bad idea. but i don’t think 1 miner is representative enough. if its down, your farm is 100% down. but yeah, definitely something i have to think about. money is limited :wink:

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