Bitcoin Forum

Just looked on bitmantech and there is a new advert for something called an L1

I reckon its maybe a USB style miner, anyone else heard anything about it? None of the details are there and im not patencie enough to wait lol

With a name like L1, I imagine its a LTC (Scrypt) miner.

yes, it is a LTC miner, as it already has speed in MH/S if you look carefully

Keen eye to detail there, well spotted.

Well i was thinking about getting some script miners as well as SHA so maybe instead of buying another 3 S3 i will order these.

Hopefully they will release spec soon.

I was hoping more for an S4 tho.

scrypt is going to be the next Alaskan Goldrush

I was too, if it was going to be like an upgraded S2 but im sure if you give it another 2 / 3 months they will release something along those lines.

I do abit of mining for myself and also contract out so script i wanted to get into as well but the returns seem crap on some of the current 80MHS rigs.


Also depends if LTC ever becomes as popular as BTC

yes its a ltc miner scrip but no description for now

If we get decent hardware then LTC could start to move again.

lol.ltc is not about the hardware.it's about how many people need LTC.
right now, LTC is not very needed

Wait for the next BTC halving :) then you'll be sorry you did not mine LTC at a low diff.

Great job bitmain! Way to go!

that is true

wonder what is this  ??? ;D

All things considered, there is currently a better ROI mining a multi-pool with a Scrypt miner and converting the coin earned to BTC, versus directly mining for BTC with any current SHA-256 miner on the market. 

I'll be silent for now until the release of L1 to the public as per agreement between me and bitmain.

Ill be buying some of theses if theri scrypt miners considering how much hash speed you can generate without using megawatts of power like in  SHA mining

TEASE

The main question is, is it profitable?

It could be profitable and all it depends on the how these miners are priced.

Exactly, a lot of people get confused, but profitability depends on the price you paid for your given hashrate

Dont forget about the difficulty increase for scrypt market.

Yes , network difficulty will keep on increasing but still with proper pricing and depending on power costs , ROI can made .

Are these Bitmain antminers plug and play like Cointerra or do you have to set them up?  I'm not a techie so this could be a problem for me when it comes to setting up the mining software.

Thanks!

You need to power them with a external PSU, which some people may not consider "plug-n-play."  That said, the configuration is webbased and they are as straight forward as the come.

You may need to make a slight modification to your broadband router, but many people here are more than happy to assist!

Cheers.

Let me clarify.  I cannot mine using GPU's because it's too complicated code-wise.

So do these antminers come preloaded with some simple UI and mining software like you see on other rigs from BFL or Cointerra.  I hate to even mention BFL but they do have units which are plug and play.

Cheers!

Ok, I'll keep silence too.  :-X  ;) But this unit looks very promising.

Guys, everyone is too hype on this new machine, even scrypt asic is pretty hard to ROI. so think twice..

Yes, they have a web-based configuration and monitoring system built into the machines.  Look for Dogie's threads on setup for more information.

Cheers.

Yeah, the S1's and S3's a really really easy to get up and running with very little tech knowledge.  It might take you a little "fiddling" time but if you've found the forums (which you clearly have) you can find every step broken down in wonderful detail.





For everyone else, it looks like this is an upgrade kit that essentially turns a S1 into a S3.

Well it looks good apart from preordering till not ready till Dec. won't be spending my btc on this right now then.

Looks awesome now but in 4 months what will we think?  I was really hoping only a month wait but by Dec. who knows how things will change.

No Hardware, Not this one, not anything... Nothing can reach a return on the investment. So... NO. Bad idea. Expect to lose your investment. Check calculators with a difficulty change over time to see if in 1 month you will be making the same... you won't be... there is simply too much hardware being brought online by too many manufacturers and they have only hurt themselves. Do not buy hardware, you will loose your investment. They are now knowingly trying to sell you goods they know you cannot profit from, but simple calculators say that you will.
Good Luck.

All that needs to be said

It's a Pre Order.  December deliver is not a gurantee, look at all the others, Alpah, Tech, Flower tech, Fib, KNCminer, late on their deliveries.

IF is gets delivered in December (during the holidays, which we know is the best time to ship anything!!!). that is 3 months from now.  That is like 3 years in the non crpyto world. 

Will it ROI.  Well Difficulty is near 36,000 right now.  Where was it 3 months ago?  Oh head 15,000.  It went up 140%.  So by December the difficulty will probably be around 86,000.  So how long does it take a Bitman L1 to ROI at 86,000 difficulty?  Based on current LTC BTC prices... 178 days.  And this is assuming that difficulty will be fixed at 86000 for the 178 days.  If we assume a modest 2% increase we are talking 239 days.

Will it ROI?  It all depends on the world you think you live in.  One that suspends reality where you ignore the facts and shove fists full of dollars at preorder nightmares or a grounded world where the data speaks for itself.  Do you believe in math or faith.

Not going to ROI if my calculation is right... Have electricity to pay :(