Bitcoin Forum

I'm thinking sell some properties i got.. maybe i can made 10 rig (6 x 7970 hd single rig), can i be millionare in December, 2014? Forgget about the electricity that is not a problem for me.

not even close!
that will cost you... what? 30.000-$40.000???
it will make like 45Mh and with that you can mine 400LTC/month, well not even that since difficulty is rising every 3 days for LTC... even if you don't pay electricity you will still need like 7-8 months to ROI.
so you wan't even return half of what you invest you will be run over by scrypt asic and they are around corner.

stay away from gpu-s IMHO.

pay attention on this:
Scrypt asic https://alpha-t.net/
2TH Prospero x3 http://www.blackarrowsoftware.com/store/
3TH Neptune https://www.kncminer.com/

Well i said "millionare" saying "get a lot of money" no of making "10+ million $" anyways, LTC was not protected to ASICs or something like that? (sorry if my english is bad)... how much time for that ASICs to appears? they will make grow up a lot the difficulty? they will be avalaible for purchase and ship fast, because in bitcoin ASICs you maybe have to wait like 1 years to get your ASIC and now they aren't good because with a big one you make like 800 usd per month?.

Think about this.

400 per month.
Let put 8 month to december.
Suppose because of the difficulty you will make the haft of the coins in 8 months.
Suppose LTC grow up to 300 usd.

400 * 8 / 2 = 1600 * 300$ = 480.000$

It's a very high production, and i think it can be more.
Thanks for your opinion, i want to hear a bit more it's intresting talking about this and say to mee if i'm right or not. Good luck, blessings!

I know what you meant by saying "millionaire".
scrypt coins are not protected from asic. they can be on market within next few months, even sooner.
1 year waiting for asic was Butterfly labs shit and I'm pretty sure that no company will repeat that shit again.
it's not like 400 per month. it is 400 per mont on this diff and diff is rising every 3 days so after a month you will have them like 300-350 maybe.
you really think you will make 200lts per months in August 2014??? think again!
LTC value was always 3% of BTC value! ALWAYS!!!
so for LTC to be worth $300, BTC would need to be $10.000 worth.
you really think that $10.000 BTC is possible by August 2014???
I don't think so.
so your math is wrong on so many levels.
think again till you do something stupid in your life.
I really don't like that "sell some properties i got" part in your first post!

I dont think so a new company of ASICs can have that inventory for sell that ASICs that people want to buy, that is the problem with Butterfly Labs.
I think in a future maybe soon LiteCoin will grow up a little bit more than Bitcoin, anyways the future is unsecure but i dont think my investment will be bad, if you think that i think there's a reason of people keep mining an buying new hardware.

When i said i will some properties i said that because i am secure i will not lose my house/busineess/etc, that are some lots i buy long ago so i'm not using it so i dont care about that, i will not lose my capital or my house or something.

Thanks for the reply

Keeping your money in property is probably more wiser in the long term.

GPU's - No one knows how long this gpu mining will keep going for and you never know if prices will go up or down
Property - May go down at some points but will always go back up again. (plus more stable and recognised form of equity)

build your gpu farm and good luck, scrypt asic is a fairy tale.

Yes. Create your own shitcoin. Pump it. Cash out. Laugh. Good luck. :P

asic miners, won't be here before late 2014

just stuck with gpu and don't mine ltc, mine new coin they are far more profitable

Thanks for the reply! thanks to all, yes but in my country is a problem with properties! when you got it and you dont use people can take it.. so i will think in it.. and yes i said litecoins becaise now i think it still good mine it.. but i can mine other new cryptos

+1 mine new coins, sell em, then buy ltc etc

People worried about ASICs shouldn't really be, because I have heard that the GDDR6 Vram cards are coming out in middle/late 2014 and they will cost about the same as GDDR5 VRAM cards, and I have heard that 1 card should be able to mine at a max of about 2.5M/hash (for ~$800 (7990 price))

I agree, who knows what AMD pull off next time. They might decide to make move on miner market and make ASICs. You should mine with what you got make some steady profit, without worrying too much right now.

your biggest error in logic, is the idea that you will take Real Estate, (Positive Credit), sell it for Debt Instruments, (Negative Credit) to finance the purchase of Alt coin miners that will mine and create Debt free currency (Positive Credit), so you can then trade it back for debt based currency, (Negative Credit) thus going back into debt.

That is the flaw in your logic.

Ahha! Very wise post. If you do not understand that every single fiat going into crypto in not rising the capitalization but dissolving in the more evolutionary organized structure you'd better buy a bear. Or (why not) take 100 bucks put 33 into 3 shitcoins. Last one will serve for pint. Pleasure and possible profit.

No sarcastic comments. Someone new could take that seriously.

Not sure if sarcasm, but still you are right either way. Tera do a LOT of research before you invest in anything! I have a few success stories gambling on low diffifculty altcoins for scrypt mining with graphics cards. There is still time but be careful with what you decide to do and make sure you ask a lot of questions and read a lot of forum posts so you can learn what you are doing! Best of luck.

Regarding these Scrypt Asics, has anyone seen any documentation to show if it is or not possible to even do?

Srcypt ASIC's are just ideas and have not come to reality yet, pass on that idea until one is out.

Two ways to think about mining Scrypt coins: constant profit (not maximum) or maximum profit (not constant). You can mine the latest coin that hasn't hit an exchange, but that's a gamble. Or you can mine with a multipool auto switch pool, ie. Hashcow, Middlecoin, Multipool, etc. , for more consistent profits. Don't know about being a millionaire, but you'll be making more than most people make on a normal job and not be bossed around. The hardest part of gpu mining is maintenance and overseeing if any problems arises, ie. overheating, power outage, hardware failure, software issue, etc.

Goodluck with whatever venture(s) you pursue and hope it will make you prosperous....