It seems this is the only topic on PiCoin, is anybody actively mining this?

Oh wow, that's a big bunch

Thanks for the article.

They're (in general) limited by a few things. One is electric price, but assuming have sorted that at a low enough point, they need to buy miners. Now Bitmain (the biggest) has mostly only pre-orders and will cater to specific larger customers, but it's not as easy as walking into a store and getting hardware. So they're limited by the capacity they can sell.
Then on top, difficulty isn't the same. So a miner that is less efficient (because best one on the market wasn't available) will be making a loss sooner. Besides hashnest I haven't seen anybody sharing what machine you're buying into.

Then there's the surrounding costs, management, uptime, facilities etc. It's not impossible but more probable someone would run them themselves and not share, at least that has been the idea of many with most cloud mining companies so far.

Got a link to an article about it?

In my opinion, it's not just avoiding stricter regulation on Binance. They are connected with the "real world" of finance and they are regulated.
So in this case the regulations for banks regarding KYC and AML seep into Binance. We've seen this with UK banks blocking payments to Binance, but as long as they're not "trusted" enough for banks, it'll keep happening until they have accepted a similar level.
As long as you will be able to transfer fiat to Binance, they'll be communicating vessels with the banks, also on KYC requirements.

Yeah, was going to say, every FOIA law has exemptions regarding making information public, so this letter says zero about Binance.

Well, LTC has been double today's price before, but yeah, triple would be a stretch.

Regarding Bitmain, I've seen from several people that they got machines that had dust on the fans when taken out of the box. Haven't had this myself, but I'm not a hardware buyer. Plus there have been reports on spikes in difficulty up to a month before shipping was scheduled for the first batch. No hard evidence, at least not of recent date.

From a QC perspective, you'd want each machine to run at least a day to verify nothing is the matter, the question is how long they "take" this "day" for testing. I could argue 7 days is a reasonable testing period too for quality control with mining machines like these.

Then, from a business perspective, it would be insane not to have machines you promised to deliver 3 weeks from that day run as part of the "quality control" when they're basically printing money at a 4 times higher rate than any other machine on the market.

So summarizing, I'd be surprised if they didn't do any runs before shipment.

Out of curiosity, would you still recommend the L3+? As I've got my 3 out of retirement to run a bit more and expect to re-retire them by November when the L7+'s will hit the market (or October when Bitmain is "testing" them). But that's with 15-20 cents EUR electric pricing, for most of the year. If the difficulty will triple (which is the lowest of my expectations) unless LTC goes 3 times up, I don't see them running much longer.

So is it a matter of electric pricing for now?

Well, at the moment I've taken my L3+'s out of retirement. They're averaging 0.05 LTC per day on litecoinpool each.
Tuned them down to use less electricity, so they're at 600-660 Watt. Then with electricity at 0.15 usd it's still worth it, especially if you pay in half a year and LTC appreciates in the mean time.

You could maybe pick some second hand ones up? The next batch of Scrypt miners is going to be sent out by October and November, which will be 3425 Watt for 9500 Mh/s, so a third of the W for your Mh.

Is your electricity cheap? Then the L3+ will still be of some interest if you can buy them cheap secondhand.

Oh, and keep in mind that if you heat with electric you could spend a bit on silencing them, so you can heat with them too and spend "less" on the mining.

Ha, same here, I sold a bunch back in the days at 2 USD, and had kept a few in another wallet, pleasantly surprised about the value now

I've been doing the same thing, clearing out old hdd's recently to get all old wallets in one place. Now the wallet is syncing and it's at 1.2 mio right now. None of the addresses that have that have anything in them anymore, so can't buy a house with DOGE

With every day passing it gets more interesting to try and crack it

"local mining that works". Whut?

Thanks, I'll be setting it up next weekend, another fire and forget thing off my list

I've just moved my last big amount in the Miningfield pools, I was wondering if I could move my wallet to an RPi, as my wallet isn't on all the time on my laptop.
Found this one: https://bit.diamonds/community/index.php?topic=85.0

But is there a more recent version of a manual to set it up? This way I can add a node to the network and keep the Miningfield payouts staking without having to leave my laptop on.

For mining with machines that are controlled by the RPi? Or mining with the RPi itself?

Nothing happening at all? Or is it showing no number for the fan speed?

Ah, that makes sense. I've been experimenting with growing peppers inside in a well regulated basically wooden box. I had both the ventilation to refresh the air as ventilation through the box to "force the plants" to grow stronger as I was simulating wind that I wanted to muffle. 1db is still nice though, but I do see, for the mining, the added benefit of preventing shorts

You'll be hardpressed to find someone who's buying the machines for their excellent aesthetics or their golden voice

Ah, not unexpected. Just disappointing

They're quick to be honest.