WARNING: Begining of rant...the logic below is mine alone and due to my tax bracket mining etc.....keep this in mind...
TITLE: WHY I DID NOT GET AN L3+ SINCE LAST SEPTEMBER 2017...AND JUST HAVE BEEN IN HODL MODE!
My way of looking at getting an L3+ at this late date...(doubtful with march/april dump of equipment of many ASIC flavors by Bitmain)
I am in the boat where I'm at with soc sec/local and state taxes/and fed taxes around 41%..as I can't afford a CPA or bookkeeper (who'd know squat anyway about crypto)
I just dump 50% to the tax man on what I mine or cash out (or crypto if less than 1 yr and a day..40% and 10% for my state taxes)...
It is dumb and simple..the leftover $$$ from my simplified ..."keeping track to pay the tax man" month to month (I am retired and currently trying to live off of mining, and not
touch other assets for giggles). Anyway..the extra 9% slack above the 41% taxman wise, I'd likely be on the hook for, will pay for my health insurance, up front thus 50% hack.
Simple and easy, and won't drive me "Insane" like last year after the fact ...trying to do this at the end of the year.....month to month from now on, the only way to fly!
Also, if my 'legacy' miners puke in the middle of the year, due to difficulty rise and price going sideways.....I NEED to be ahead of the game (month to month) with the tax folk!
Moving on...
Anyway, I crack say, and decide to get an L3+ using calcs and convoluted logic below:
From my calcs with shipping and PSU and L3+ to get to me is $1,600 bucks more or less for an L3+ unit without coupon.
$1,600.00 (PSU/shipping/customs/L3+)
-$200 coupon I have
$1,400 USD
-$700 USD set aside monthly would go to my 50% anyway...would have been applied to tax set aside anyway. (see my above "odd" logic of why 50% set aside, see above)
-------------
$700
remaining $700 bucks is cash that is left over (remember the $700 above is lost to me anyway either in equipment or to tax man) but this is cash I can SPEND after taxes...
Not to be if I decide to get equipment....with my above mining profits...with my dubious bookkeeping...
I use this extra $700 bucks from mining for 'dubious L3' below:
So I'm $700 bucks in......taking away the 25% equipment deduction OFF taxes (If I pay in enough at the end of the year, to take of taxes in real $$$ owed)
is 25% of the above $1400 bucks or $350
$700
-350
-------
$350 is what I'm in on the device over and above..what I'd pay the tax man ( with my dubious accounting above) or $350 bucks more..
means I'm IN for the device ...if all the above works out $350 bucks.....is my extra risk.
The other variable is my electric for 1 year..which is pretty much locked in at 12c kwh.
so 800watts x 24 x 30 days / 1,000 (for kwh) = 576 x 12c kwh = $69.12 per month x 12 months = $829.44
So my above equip risk above paying the tax man and health insurance (2019) set aside EXTRA is $350 plus electric for 1 year is $820.44 + $350 = $1,179.44
So $1,179.44 with equip risk above my taxes/health gimmick and electric for the year
THE ABOVE IS WHAT I HAVE IN THE GAME...FOR A PURCHASED L3+ NOW!
to really nail down the risk you then you go backward with your (in my case pretty close ballpark figure)
$1,179.44 / 12 months = $98.29 per month costs divide $98.29 / 30 days = $3.28 / day.
So the AVERAGE to break EVEN paying for equipment costs (in my case) and electricity (in my case) DAILY is: $3.28 /day...IF DIFFICULTY REMAINED THE SAME (snicker)
As of this moment, ONE L3+ at 500mh and 800 watts on
www.litecoinpoorl.org using their LTC calculator
www.litecoinpool.org/calcyou get at this moment of $194.51 or $9.73 per day.....
BUT with the amount of march/april equipment by bitmain and others in scrypt-pow dumping....figure 1/3 of that is gone to make it about $6.52 after the march/april
dump of equipment from the last 4 months of scrypt-pow L3+'s by Bitmain... this is a guess...but a likelihood IMHO.
well.....as you can see...
1) we now know why they are dumping coupons
2) just can't see this as working out IF in the Summer as I expect..Bitmain pumps out new equipment with better hash and less electric for themselves
3) with above better equipment then does the "Bitmain Shuffle" ....takes pre-order from May till Sept...and ships in Sept..using your pre-order $$$
4) to basically mine like hell with the new generation of equipment for 4 months with us left in the rear ...likely with high priced, high-risk equipment again
rinse/wash/repeat
Thus, sitting on fence ...not getting nothing....at least till after the march/april dump of equipment of many ASIC flavors by Bitmain...really want another company
to compete with Bitmain..that now is likely a 'unicorn dream'
Anyway, probably everyone does a similar calculation to my above messy logic...but how I see it ...If we are all 'hoping' for a price pump of BTC and hopefully
LTC and all the other alts to get us out of an equipment hole..come march/april...well ....I'm just dandy mining what I have and waiting in that works for me just fine.
HOW anyone can get, on a price pump, equipment WITHOUT my issues above with hard $$$ and ONLY be looking at the 25% equipment deduction and the other
75% full risk, plus electric...without my dubious 'tricks' above...insane as they may be..well hobby miner folk...run far away...away..away and HODL is my advice.
..if it don't work with my above-convoluted logic it is NOT gonna fly for you, with ONE miner and regular deductions and regular folk tax bracket...(at least at 12c kwh for me!)
anyway...the fence sitting is giving me 'splinters' ... I likely will 'crack' and get 'some' ASIC equipment again..just not likely to do so after June 2018... (yeah, I know, there
won't' likely be any, dubious investment or not!)
(don't like my posts..stick me on /ignore...I don't care, I will not know, it's a win/win)
end of rant
Brad
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Bitmain units, four L3's at 250mh and four L3+ units at 500mh by July...during the $4.15 to $50 pump. Got (4) more L3+'s last arrived in Sept. 
