I sold most of my LTC...even at these low levels. It is getting too risky.
Once difficulty goes higher, a handful of low cost big miners can come together and do a 51% attack for their own gain. It is gonna be more and more centralized to low cost miners. Higher cost miners turn it off. If it keeps up, eventually most of the machines will be run by few 3-4 cents guys only. Bitmain now lowers price to 476 USD, probably to lower inventory lol .....sigh. The problem with this industry is that manufacturers can make money at the expense of customers.
yeah...likely....waiting till August 8th, 2018 have some LTC that will be a year and a day then...so only 25% cap gains with taxes from my state taxes yep...well I went like 6 bitmain miners too far this year...never to ROI after I shut the titans off so it goes I guess I also got 5 dubious obelisk siacoin miners coming in the middle of July 2018 that I need likely never take out of the box (needed the equip deduction in 2017 really, really, bad...last June was making 20k a month..on LTC....ah...the good old days on LTC on the pump) anyway, probably makes very little diff on the obelisk miners ...got them when BTC was high..not to mention the tax and equip advantages the sad thing is I swap'd the 1/2 off coupons they gave me for the above for a decred miner for FREE but alas aug 30th on that so ...that also probably can stay in the box too...in that probably won't be able to justify running it for the electric either so anyway, as of today...*supposed* to have all my miners shut off 8,000mh of pow-scrypt...*still not shut off so this could change* had to end sometime...a good run from 2013 till now though...always knew I'd go a miner too far..in 2018's case that was 6 L3+'s 3 months ago so it goes...but yeah...LTC is looking shaky indeed compared to what Bitmain may still have to ship as new equipment and the CURRENT generation available in mass...being shut down (assuming 12c kWh average USA electric rates anyway..the fat lady has sung in my case brad |
|
|
|
I guess it depends a lot on your power cost. I pay 4.6 cents per kw, so 26,5$ per month in power for each L3+. Not that hard to make more than 26,5$. Your power seems quite expensive! Today I made 3.5$ by mining various coins (including XVG which I don't like but it was the most profitable a good chunck of the day). Still profitable enough to run but I'll not get rich this way... I agree it's highly probable that bitmain will release something new soon, this may be what's gonna kill my L3+  not sure where you are in the world...but yeah...I pay 14c kwh when you include the data hall rent etc ave elec in USA w/o is 12c kwh. Elec rates usually every year they seem to raise them 1c in Summer usual increase over winter rates...every year at least that is included in my current 14c kwh price ...moot now....in that they are shut off for the next year....alas.....(all them pesky solar panel folk leaving the grid?) naw...just because they can that's ok though...mined since 2013...so no complaints...except the usual Bitmain shooting stuff out like toasters Yeah, you can keep it up longer than me indeed at those electric prices....but ONLY if Bitmain does not have new equip coming out this Summer...then you could be golden ...with the say vast majority of folk paying 12c kwh ave in the USA ...(or most parts) you could kill IF the difficulty goes down me, if the difficulty goes down by quite a bit...I would probably only break even...right now I'm losing 50c a day... at 8,000mh and a $1,290.27 monthly data hall electric bill...well...them days are gone...not at a present $237 a month after the electric loss (which last I looked came to 2.49 LTC loss a month by mining over buying) Anyway, good luck, there out to be a lot of 'cheap' equipment out there at your rate later brad |
|
|
|
but this is bad guys, the BEST (if only) in m.ass miner that you can get from Bitmain, the L3+, is mining for me at a 50c loss per day for me
Time for you to use a tool that does auto pool switching so you optimize your profitability. No reason to lose money right now with an L3+. This said profitability is incredibly low on the L3+ currently. Fortunately, my S9 and D3 (was absolutely not expecting that!!!) are more profitable... Problem is at $1,290.27 USD a month in electric....and a $234 loss in electric....it saves me say ....(not sure) let's say 100 bucks..I'm still down $134 USD! Not worth the effort if 1) the price does not come back to over $160 LTC in the next 2 weeks or 2) difficulty does not go down (again it is up 9% so I think it at best will stay even) So with no price pump and difficulty staying even...why tread water? I have the option of turning them back on at the end of the month but it is very doubtful (esp if Bitmain is putting out supposed new equip for scrypt-pow in the pipeline....to be fair I doubt Bitmain expected this dump in LTC and scrypt-pow price...but if it exists they will mine it...regardless...) We will see at the end of the month, but indeed I do wish to be wrong....then that means the odds of me being Natalie Portman's Love Puppet are at least somewhat more likely! dare to dream!  later brad |
|
|
|
|
Bump
Becoming a lot less willing on the above prices to pay for another KNC Titan Toy at 25 bucks a cube *plus shipping, be reasonable* and
or $125 for a complete beast (working) *plus shipping be reasonable*
starting to look like the toy will have to pay for itself for attic space heater use in the winter...but still
anyway, I wonder where they all went...or can people simply not part with them because they made so damn much $$ for them since Fall of 2014....
ie ...now used as KNC ASIC wall art and cube bookends...if not that its a mystery!
later
brad
|
|
|
|
STOP BUYING L3+ units, is not proffitable anymore.
You pay more for electricity than what you mine.
It depends on your electric cost - for ME, an L3+ would still be profitable, but for most folks you're correct that it is not profitable any longer. To be fair, it really depends wat happens going forward even for low cost people. Price of LTC falls like a brick and difficulty, as usual, always rises. Those who unplug L3+ will plug it back in as price rise. It has become a D3. Even at 6 cents, that will only make 38 USD now. An L3+ with PSU sets u back 726 USD, at full price with delivery and 10% VAT yet. That means 19 months to break even lol. I am using cryptocompare calculator. With coupons, it will be abit faster though. I find it madness. This is wat an oversupplied sector looks like, when there is too much interest and oversupply occurs. BTC mining still looks ok but heck, if it can happen to the L3+, it can possibly occur to the S9. Completely agree. I am 100% positive the S9 is next. Even right now at .10kwh it is down to $1.30 per day. Nasty. my thing now is LTC difficulty I mean a 9% gain in difficulty the last few pops (sure 2 are flat..but still) I have a hard time thinking that it should be more...but that it is currently being prop'd up by Bitmain having new units hitting their data hall... So it generally sucks big time...my 8,000mh is currently OFF for the next 2 weeks at least...was just heating up the whole data hall and losing about $234 a month after an electric loss we will see fun times (not) currently, LISK (pos coin) is the only thing accumulating for me month to month (0.9% a month about) thus I sit on my LTC hoard and wait for Aug 8th as a cutoff on when/if to dump (retired on crypto 3 years early...got to eat) to get to 25% cap gains with state taxes.....fun times indeed unless prohashing is doing great things with their algo ..I got no angle on this but stop digging the hole bigger than I'm in but this is bad guys, the BEST (if only) in mass miner that you can get from Bitmain, the L3+, is mining for me at a 50c loss per day for me 24 hours 0.02307999 LTC 2.19 USD 2.69 USD -0.50 USD 7 days 0.16155993 LTC 15.35 USD 18.82 USD -3.47 USD 30 days 0.69239971 LTC 65.78 USD 80.64 USD -14.86 USD of for my full 8,000mh it is at NEG -$7.93 per day! or NEG -$237.79 a month 24 hours 0.36927984 LTC 35.08 USD 43.01 USD -7.93 USD 7 days 2.58495891 LTC 245.57 USD 301.06 USD -55.48 USD 30 days 11.07839531 LTC 1052.45 USD 1290.24 USD -237.79 USD Again, worse case, Bitmain has NEW equip going into data halls (thus not the dump in difficulty yet) and they mine for the summer kicking up difficulty 30% or more making it impossible for any previous scrypt-pow miner, L3+ or another brand to work at that difficulty...and the field of equip is wiped from the earth with Bitmain (controlling 90% of pow-scrypt at that point) announces....they are willing to take a 4 month pre-order for a unit delivered in late fall....not gonna play....it will kill all scrypt-pow coins if such happens, intentional or not..(i think these new miners were in the works and the price even has surprised bitmain ...but they will mine them anyway, it is what they do..evil never rests) well as they say in wargames...the only winning move is NOT TO PLAY!  |
|
|
|
What do you think about Bitcoin not breaking the support 5500€ / 6800$? I'm not very confident that this will be the bottom, there was not enough panic selling and FUD imo!  Maybe we'll see a break of the support first, then a bull run for new highs can start. I figure that BTC price and Alts etc are going to Yo/Yo at best between 5k and 6k for the next 9 months especially if mt. gox keeps kicking out $125 million of BTC dump the 10th of every month until the surplus of 1.40 billion is gone just the way it is that and the fact IF there is a run, seems exchanges always go down or are hacked ..thus driving prices down further buckle up boys and girls it is gonna suck big time (again, better minds then me prove I'm wrong...please...please...) brad |
|
|
|
Litecoin is one of the old coins in the encrypted money market. I firmly believe that this project can be developed for a long time. This round of falling LTC coins is one of the targets of observation.
the main problem with litecoin is that they are competing for the same space as bitcoin cash....and people seem to like a fork of bitcoin like bitcoin cash better (go figure) anyway, that is a big part IMHO of why the price of LTC has not gone over $200 usd I just can't see the LTC price coming back over say $160 in the next 2 weeks to over come difficulty... indeed if as I suspect new equipment by bitmain is coming out in July 2018....all current equipment in the world pow-scrypt including LTC will be really, really, hurt so everyone shuts their stuff off due to difficulty and electric BUT Bitmain for the Summer hell, I myself would walk to POS coins and sell out my LTC if that happened....would be all over but the singing of woe... anyway, chump or champ we will be the first to know  |
|
|
|
personnaly , i will order ONLY when we will get some proof and review of this product by members. i let stupid people who took the risk to give money to scammers, and if its not a scam, i will order.... all over questions about this product are useless because they can give you answers to any questions you asked, it's easy when you know the mining market... but for the moment, 95% sure it's a scam... noboby here in the biggest forum in the world, to confirm this product really exists, don't you think it's strange  they already sell tons of cards and nobody to talk about it and share about this "amazing" product how much people on this forum put an order on it ? how much pieces ? just to know how much money they took for the moment to tell you the truth...we have seen a lot of stuff that is REAL over the years never shipped (or at least so late it did not matter) butterfly labs or for a recent case the sia-tech obelisk miner asic for siacoin (will never ROI out of the box) thus even if it is real, the way these guys launched it and promoted it....I would still not have anything to do with it it comes down to this 1) as scammers they know what they are doing 2) as making a product they don't have a clue so as far as what I think ....I pick 1) Scammers ...mainly due to the fact they work way harder on NOT showing us something then they would ever do in proving they did have something.... brad |
|
|
|
~snip Nice words tweeted by Vinny Lingham:  Very poorly worded. It actually doesnt make sense as written. Which luxury is he lacking? Has he been living a hand-to-mouth existence? He's a fucking millionaire. Edit: im a fucking idiot. I'll blame it on the night shifts... It's perfectly written in plain english. He may have a point all of my BTC and altcoin hoards have come from doubling down on equipment from Fall of 2013. KNC Jupiter BTC miner to start at $5,131.80...so his point has some merit.....If I'd been a recent newbie and bought BTC at the $15k high.....(depending on how much) I likely would have bailed crying like a 12-year old child. (wait...I do that now...) ....So yeah, rationalization wise I can wait this out and call it PROFIT at whatever insane percentage it is. Again, I worked with dev disabled...so again ALL my hoard and doubling down on ASIC's (and dumb luck) played into this....from that first miner...the ASIC mining carried the buckets and toiled itself to get there. So he is correct....sorta IMHO...so my only real 'concern' was the original purchase of the KNC Miner, it all goes back to that initial bet of $5,131.80 and the luck and doubling down since (till now today when I shut all my Bitmain L3+'s off ..no profit at 8,000mh) |
|
|
|
do you think I should pull off my L3+ now?
it almost brings me nothing after expensive even some lossless too
well, for me at $95 bucks it was costing me around 2.49 LTC a month LOSS...with 8000mh 18 bitmain Miners (4 L3's and 14 L3+'s for equiv of 16 L3+'s in hash and power) Thus that boat don't float... I suppose I could flip them back on here in 2 weeks or so..but it is not likely that will work with what I see on bitcoinwisdom https://bitcoinwisdom.com/litecoin/difficulty not dropping yet... well we will see...but for a small miner say with One L3+ or some such....yeah..you could take a chance and let it run some...in my case I'm on a month to month and was allowed to shut it off 2 weeks early I suppose mainly in that ..I was not making any money, and the data hall was just gaining heat for no reason and they probably needed to take some electrical load off as a result. win/win. As to what I think we need for an LTC price (as an example of pow-scrypt) to make this worth turning back on I'd need $1.60 USD to make over a buck a day per L3+ ($1.02) big whoop....so the odds of that happening are not good indeed! So the odds of me picking up another month for the great big $30.54 after electric I would gain below...yeah, doubtful... what we really need is $200 LTC ....still lousy but I'd think about it some...just for the 'hope' factor...(a guy has to have standards....) 24 hours 0.02316153 LTC 3.71 USD 2.69 USD 1.02 USD 7 days 0.16213072 LTC 25.94 USD 18.82 USD 7.12 USD 30 days 0.69484592 LTC 111.18 USD 80.64 USD 30.54 USD And as I stated before. I think (see above bitcoinwisdom) that bitmain is popping out new miners or we would have seen difficulty dump by now..though to be fair..that just increases the difficulty or keeps it from dumping...so makes little the difference in my case..either/or the Bitmain L3+'s had to be shut down. by the end of the summer at this rate bitmain could be the only one mining pow-scrypt with new equip this summer touting the need to replace all your pow-scrypt miner needs with their Oct 2018 pre-orders (my heart races at the prospect..NOT!) sheesh...weird times...hopefully I'm dead wrong and turn my miners on again by the end of this month (I also have the hope of being Natalie Portman's Love Puppet...I figure the odds are pretty much the same!) later Brad |
|
|
|
Well, I have a month to month lease at the old data hall, seems I can get out with 1/2 month on this months contract. So all my 16+ equiv in L3+'s will be going off this Friday, June 15th, 2018. what the heck it has been a good run, even if BTC drops back down to $1k USD. I still retired 3 years early and that can still work out fine, till I take my traditional investments and soc security (if I choose) at that time (66 years). Of course at this current rate and drop to price...if it did hit 1k again usd, I'd not have any BTC yet, but then again...not working 3 years early works too. Hopefully, all of crypto does not go tulips, but whatever. I'm out of mining now. at today's current LTC price of $95.00 USD. so a NEG -$239.88 LOSS per month on my 8,000mh of L3+ mining...don't make any sense. We need about $200 LTC IMHO, mainly due to new scrypt-pow machines coming online (likely Bitmain) still no dip in difficulty... https://bitcoinwisdom.com/litecoin/difficulty so again, looks to me like the new generation of equipment (pow-scrypt) ... hitting the world at the same time as this massive all crypto price dump.....not good...indeed.... again, IMHO, Bitmain. FML. WHY...is seen below in what is going on with my equipment Neg -$0.49 USD per day or Neg -$14.63 a month in the hole. 24 hours 0.02316153 LTC 2.20 USD 2.69 USD -0.49 USD 7 days 0.16213072 LTC 15.40 USD 18.82 USD -3.41 USD 30 days 0.69484592 LTC 66.01 USD 80.64 USD -14.63 USD My total for 8,000mh and 12,800 watts with eguiv to 16 L3+'s (4 L3's so really 18 units) comes out to be below at $95 USD LTC 24 hours 0.37058449 LTC 35.21 USD 43.01 USD -7.80 USD 7 days 2.59409145 LTC 246.44 USD 301.06 USD -54.62 USD 30 days 11.11753477 LTC 1056.17 USD 1290.24 USD -234.07 USD So pulling the plug, I'm out Friday 15th, 2018. All are shutting down from pow-scrypt mining. Can't afford $234.07 buck loss a month and not gonna get any better. Right now what I am doing with above charts, with a 500mh 800 watt bitmain L3+ after electric costs and data hall fees per L3+ at $95 USD LTC As you can see above, NOT really worth running them for the rest of this month, so having an out, I'm out. So the plug is pulled, enjoy my small contribution to reducing the difficulty of LTC (not that it is gonna manner) (waving, as I boat away from the Titanic ) brad |
|
|
|
Welp this looks a bit shit
That overlay was not accurate. The 2014 to the absolute low in 2015 was well over the 7 months [13 months actually]. Our current move from December 2017 to June 2018 has only been 7 months.
Hence the term “accelerated”. Doesn’t matter I have held in the past and can do it again. yeah, it's only money right? we are bigger, than just to be defined by money right but yeah, generally, it has been a FML kinda couple of months |
|
|
|
Sold all of my BTC now.  This is the end. A message like this from a "legendary" confirms this really is the bottom. EDIT: seems like you're a "hero" but how in the world you've more than a thousand merit and still just a Hero? bwaaaa than give the "legendary status to me "  maybe not the best writer of posts but such a legendary BULL on bitcoin and hodling those damn coins and where's the actually diffrence of VIN not have a legendary status ?? HODL or NO we will see ....may not be the right choice..if BTC and crypto does not get adoption in mass..then we lose and bankers and etc win on the other hand all my HODL has come from KNC Jupiter Miner from 2013 at a cost of $5,131.80 w/shipping....yep all of it...enough for a 100 BTC Hoard and also enough alts even at 3k a BTC and etc to get me by for my 3 years of retirement to 66 years of full retirement ..when I plan to start taking my regular retirement soc sec and traditional investments so no way am I hurting in any way as to the HODL or not....yeah, might not work out...as to the rest above...not a big deal...this was always a speculative endeavor outside of the regular stuff I needed for retirement so not too shabby in that all came from that KNC Jupiter Miner (not my job) to achieve this since 2013 on doubling down on hardware and other tricks but yeah, chump or champ....either HODL is gonna work for the next say 3 years...or it is gonna be like Warren Buffet says...all was 'rat poison" but i think all things considered...even if it goes back to 1k and blows up to be worth zip...it was a hell of a lot of fun...allowed me to retire 3 years early and you can't beat the $5,131.80 investment everyone holding BTC wants to retire early, who is paying? lol Depends...I've been hodl'ing the 100 BTC since 2015 (full amount anyway) as to the retirement that is all from mining and Altcoins the plan is even at 3k BTC or less....and the Alts and Mining are done (likely mining by July 2018) ....I'll STILL have the 100 BTC. the rest is gravy...if the 100 BTC does nothing for me in retirement so be it...got more than I should of out of all this at this point anyway, the case can be made, that the hodl'ing of that 100 BTC was a mistake....or if BTC comes back it is not a mistake as to the rest, a lot of folk in HODL mode are thinking in my manner...may lose all the BTC and only gain the other stuff mentioned above in the post and re-reposting above...but hey, Trump is in office...we likely have worse problems than my 'bet' on 100 BTC in HODL mode working out in 3 years  |
|
|
|
Sold all of my BTC now. This is the end. A message like this from a "legendary" confirms this really is the bottom. EDIT: seems like you're a "hero" but how in the world you've more than a thousand merit and still just a Hero? bwaaaa than give the "legendary status to me " maybe not the best writer of posts but such a legendary BULL on bitcoin and hodling those damn coins and where's the actually diffrence of VIN not have a legendary status ?? HODL or NO we will see ....may not be the right choice..if BTC and crypto does not get adoption in mass..then we lose and bankers and etc win on the other hand all my HODL has come from KNC Jupiter Miner from 2013 at a cost of $5,131.80 w/shipping....yep all of it...enough for a 100 BTC Hoard and also enough alts even at 3k a BTC and etc to get me by for my 3 years of retirement to 66 years of full retirement ..when I plan to start taking my regular retirement soc sec and traditional investments so no way am I hurting in any way as to the HODL or not....yeah, might not work out...as to the rest above...not a big deal...this was always a speculative endeavor outside of the regular stuff I needed for retirement so not too shabby in that all came from that KNC Jupiter Miner (not my job) to achieve this since 2013 on doubling down on hardware and other tricks but yeah, chump or champ....either HODL is gonna work for the next say 3 years...or it is gonna be like Warren Buffet says...all was 'rat poison" but i think all things considered...even if it goes back to 1k and blows up to be worth zip...it was a hell of a lot of fun...allowed me to retire 3 years early and you can't beat the $5,131.80 investment |
|
|
|
my obelisk sc-1 is under water for mining sia-coin as it sits now ...and no shipping till middle of July 2018...thus
probably will stay in the box. Not a good start for their decentralized storage plans
So, what we learned here? Never plan too much ahead in crypto business? I didn't follow Obelish since bitmain came out with their miner, whats situation atm? that's just it...for some company that is gonna go head to head with Amazon cloud at 10c on the $1 for decentralized storage...by JULY when the majority of ASIC's of all brands are in the world (10x what I think Sia-Tech expected) well, folk are not just gonna flock to them without some hype and advertising thus I expect...all that hardware will just mine or sit..driving price of sia-coin down....not making even their meager attempt to get their supposed 'decentralized cloud storage' off the ground in any manner without that the coin even more useless with the ASIC's pumping out the coin not a good plan at all...amateur |
|
|
|
|
my obelisk sc-1 is under water for mining sia-coin as it sits now ...and no shipping till middle of July 2018...thus
probably will stay in the box. Not a good start for their decentralized storage plans
|
|
|
|
i just wanted someone to post nice three bottoms pictures but i agree with your prediction. After 2013 correction, there was a last run up before the great depression 3k can take months/years to come That was driven by the catastrophic Gox debacle. I don’t think (I hope not) it will play out that bad again. the mt. gox trustee has 1.4 billion $$ of BTC to move ..probably by the end of the year...(assuming the trustees get paid a % for their efforts) thus it is gonna be more than 'weird' in the next year IMHO A 'perfect storm of FUD' so yeah, the price could easily go to 3k or below and stay there for more than a year if/when adoption catches up and mt. gox liquidation happens sucks |
|
|
|
bump I'm still willing to pay for a cube $25 bucks without shipping or $125 for a full Titan (not including shipping.don't fudge) ....probably? .... I"m not entirely sure why...just for toy purposes...especially with the price of all crypto dumping what the heck, they make interesting 'space heaters' At the rate BTC and altcoins (pow-scrypt) are dumping...I'm pretty sure this offer is limited to a couple days sure..space heaters are cute...but I have limits at the current prices and for these prices the puppies better work with all dies, as well, again...more picky at these desperate dumping BTC prices times later Searing |
|
|
|
|
Any talk? Or likelyhood of DECRED forking wtih the ASIC's in the wind?
curious, even if no one has a clue, what everyone things the odds are?
later
Searing
|
|
|
|
|
Show Posts
