Miners are underwater (a lot of them) at $100 coin, going to have to be one hell of a pump to fix this. $200 LTC just gets them at the loss they are making now vs difficulty.

(see my previous posts)

but then again, I hope you are correct.

A good start IMHO would be for LTC to go past Bitcoin SV in price. Then maybe, we could get some action price-wise passing that scam coin and fake satoshi pump and dump.

later

Brad

lol...it has not had any buy action in a month $0 per day .... it's a pump and dump I'm afraid

Price has been 0.00 since June 20th and then it has had only a max of $12 volume per day since and 0.00 price.

going no place..nice try thou newbie account to pump this

all things being equal mining LTC at a loss or this at $0.00, well, that does pose metaphysical questions on if you should be doing either coin indeed!

brad

Zen Koan: The way of scrypt-pow mining and the road to enlightenment
---------------------------------------------------------------------

If you are mining LTC and losing money with electric vs price and halving in 16 days means you are 2x underwater

does the sound of 1 hand clapping of Litecoin matter? If any sh*tcoin gives the same result?

or can you mine Badcoin or something else with the same result? The either of Scrypt-Pow and LTC now broken?

no profit, no material wealth earned, thus (wait for it)

Achieving Englightenment!

(translation: no worries we are f*cked)

Brad

Again, Miners are underwater, I mean pretty much all of them unless you count the latest 2k and 3k Insilicon scrypt-pow miners for LTC.

Thus in less than 16 days and about 18 hours, that will become at $100 LTC now the equivalent of mining at $50 instead of $100 USD and thus

you are 2x underwater than you were before the halving.

LTC halving clock:

https://www.litecoinblockhalf.com/

To continue down this path, you also could say you need $200 LTC to make what you are making the next 16 days and 18 hours to break underwater

at the $100 usd LTC you have now. Thus, no worse off, but no relief either for miners even at $200 LTC.

Not really, sure that LTC POW mining can survive this. My logic goes like this. (Hope I am incorrect).

The other 'elephant in the room' is that MOST (I'd guess 65% plus) of all scrypt-pow miners are Bitmain L3+'s. Which under the above scenario

and prices now would be 'turned off' likely, as folks realize more $$$ are going in for electric than going out. This is to be expected. But because

so MANY of the miners are this particular (Bitmain L3+) model and have such a large percentage of scrypt pow, every time the price goes up (say $200) and these units, break-even in

price, even a little bit, blamo, they will go back up. We could be seeing some very odd yo/yo action on difficulty and price with this bit of equipment

banging in/out about the LTC mining ship, due to heavy seas. No new equipment worth making at difficulty and prices and old equip dumping in/out of a depressed

LTC market. Yech!

Only hope after halving for any action on LTC price, IMHO, is mimblewimble or some other innovations. Without that, Litecoin could be in some real

trouble on the pow mining front, sense of purpose, and of course the price after halving.

It is looking very, very ugly.

Brad

Unsure, why you are mining. I can't see anyone buying FJC at this time. Thus with 2 KNC Titans (4 cube versions) using
Gen Trakin Firmware Mods. You'd get an actual around 1,250 watts per machine. Thus that is 2,500 watts.
That comes out to:

2,500 watts x 24 hrs x 30 days / 1,000 = 1,800 x (ave USA rate of 10c kWh) = $180 usd per month!

Even 1/2 that is $90 a month at 5c a kWh!

So unsure why you are bothering to mine unless you have Free Electric in a University Dorm or something.

This is the biggest reason why FJC should go 'masternode' and allow FJC that people can't sell under any circumstances to use for masternodes instead.

At least 'mining air' at that point with a masternode would not cost $90 a month at 5c kWh say, per month for mining air.

As to how to do this, I'm great at making suggestions but have no 'real idea' of what to do. Just saying, masternodes for FJC now I'd probably play

with a masternode and mine, without that and current FJC status, no mining is ever gonna happen again.

Brad

Perspective.

April 5th, 2019

Bitcoin Price: 5,025.11 USD.

Source: https://coinmarketcap.com/currencies/bitcoin/

July 18th, 2019

Bitcoin Price: $10,549.90 as of 1:38 pm CDT USA.

Perspective.

Well, to me the real elephant in the room is the amount of scrypt-pow miners that are Bitmain L3+ types. That one mnfg has, IMHO, about 70-80% of all scrypt-pow miners.

Thus, they will ALL GO OFF at the same time, if, the price does not make it up for LTC or other scrypt-pow coins.

An example is, with current LTC difficulty we will need $200 LTC for a miner at whatever electric kWh per hour to make what he did at $100 LTC. We currently at $89.20

as stated in a previous post, at the last halving LTC was the same price more or less 1.5 years later from the August 2015 halving.

So let's say we get $200 or even $300 coin at this difficulty. All that means is 70% of the equip turns back on.

The catch is, at these prices even if the other 30% that can mine because of really low electric per kWh or that have more modern scrypt-pow miners for LTC

or other coins. The price is so depressed, probably, from the Bitmain L3+ folk dumping to pay off data halls and real-life stuff..no traction at all.

So hard to see how this is gonna shake out even with say an over $200 pump on LTC when all that means is 70% of previous miners turn the stuff back on.

We could yo/you like that for months.

IF you think that LTC will hover around $100 (or the equivalent of mining before halving at $50 price then equivalent) NO ONE is gonna mine LTC at that price

even if you do have a more modern scrypt-pow miner. The catch is the coins scrypt-pow now that are not LTC would be so overwhelmed from that other

30% scrypt-pow miners (rather than LTC) they would be saturated as well.

we need mimblewimble or something innovative ASAP, but with current gov't climate, I kinda doubt that LTC will even implement mimblewimble now.

hell, we are looking at the worst of all worlds, way too low a price, way, way too high difficulty, BTC pulling more and more at over 65% market share and climbing

and the fact that existing scrypt-pow miners on the edge of doorstop status is about 70% of the market.

sh*t scared myself

brad

If that happened, supposing he was from the USA and legal..and paid the 25% capital gains tax in Millions. With also possibly state and local taxes.

He would most definitely for his trouble get an audit by the IRS.

Also, the beginning blockchain stuff he had addresses on would be gleaned for dark web stuff

his life would be frigging over because I'm sure he spent some kind of BTC for pizza or stuff at 10,000 BTC or so. But indeed a 2009 BTC on the blockchain

you made say for 2c and you bought a 1,000 TV with such. You would owe the IRS $999.98 to the IRS as 'capital gains' tax.

He would be BEYOND HOSED, again, even if he tried to do the right thing, and get out of the whole works, legal like he won the lottery.

They would still come after his ass. Hate to say it, but with billions and blockchain to look at it all, it would be just too, too tempting for the IRS and others to kick his ass.

Not sure, I could be MORE sure about this.

Brad

Yeah, the old summer rates at 11c a kWh, don't seem to make a world of 'hoot' now.

FUN, FUN (not) when Halving comes around, that is if you have anything less than (equivalent speed/power equip) Bitmain L3+ Miner, and hell, at this

LTC difficulty, what would you need then?

$200 LTC to make what you'd have made at $100 LTC. (In my case at 11c kWh...that would be nada!)

Looking like the horse is trying to catch up to the runaway cart, rather than vice versa!

So I'm playing Submarine now, so folks with L3+'s on now, so at halving does that mean folk mining at these LTC prices and getting, say

8c kWh are gonna play 'submarine' with me too?

Dubious! Too many Bitmain L3+ Toasters/too little price for LTC/halving/electric rates/Ack!

Crypto: Always Drama!

Brad

Hey, I don't claim to be a secret agent man, I just say the lyrics to the song like 'leading a life of danger' and other lyrics seem to sum up me and Bitcoin.

Especially the first 4 lines in the song. Also only for FOMO/PUMP/HODL playing. (er..not so much lately)

https://www.youtube.com/watch?v=sMw4WpWD0jk

Would be nice to play it again, perhaps I need a standby song for 'sideways'? or confusion? or meh?

heh...

Going back to CPU Mining!

10 million Coin Pre-Mined!

95 million total coins.

yeah, right, just because you saw me just fall out of a 'turnip truck' does not mean I'm stupid!

Sheesh, it could not scream with the 10 million pre-mine more "I'm a pump and dump scam coin" if it tried, IMHO.

Brad

I suspect the hash is coming from the partnership Bitmain and others with China Hyrdro Electric Utilities. They have a massive surplus of water to electricity more than they can use

for the summer..Bitmain has units OFF in that can't afford electric prices. Thus I heard it will be a 50/50 split with the hydroelectric utilities thru the summer and until the

water dries up (excess hydroelectric capacity) and Bitmain and other 'big boys' in China's last big push of difficulty upward ..then they shut all this extra mining off and walk.

By then of course, regular miners will be so far behind the LTC and pow-scrypt curve it really, really won't be worth running them, ie ..could be the last hurrah before scrypt-pow

doorstops. Damn hard to compete against. I run my miners on your hydroelectric excess for free this summer and split coin 50/50. Also, the equipment by Bitmain and others

before this arrangement was likely OFF anyway and/or paid for, so win/win/win.

This is how all such things work. Bitmain is 'evil'. It is like people forget all those 'evil genius's of our youth in cartoons'. This is the same as what a 'cartoon evil villain' would do.

It is like, really, did you learn nothing at the age of 6 years! Slacker! This is what 'evil corporations' of any flavor do!

Anyway, my guess on where it is coming from at least for a month or so past halving if not longer, depending on how profitable this partnership is

brad

Sorry, you have an 'adoption' problem via many, many bitcoin coin forks...

thus, going back to GPU's after the difficulty driven up by KNC Titan ASIC's is not going to be a solution

Simply, IMHO, following bicoin core with current FJC structure that is the same since 2014. (Before KNC Titans and since the keeping up with Bitcoin Core Updates) again,  IMHO

that does zip.

Adding more exchanges with no improvement or awareness and adoption, is not gonna fly. IF FJC is NOT on the radar enough to survive as is

since 2014, that boat has sailed.

Thus, options, in which I have no clue of what I"m talking about, I don't program, again based TO ME ONLY, IF, and I mean IF this FJC project was dropped in my lap

I"d (attempt) to do the following:

1) So much FJC would be the equiv of 1 masternode with existing FJC as is, probably? at the rate of ONE KNC 4 cube Titan or around 350mh. Something has to replace

these beasts, you simply can't go back to GPU POW mining FJC anymore and these units will be 5 years old in Oct 2019.

2) Try to add some of the privacy options you see in Bitcoin 2 or Mimblewimble option on wallet like LTC is going to do.

3) Try to MERGE FJC coin with another project and so much of either coin would be so much new coin and/or masternode

Anyway, probably all the above are not do'able. But to me with the FJC I have (meh!) at least I could run a masternode on the slim hope of revival. Right now

the FJC just sits on a paper wallet and not wanted to buy on any exchange now or in the future.

Right or Wrong, again IMHO, at least masternodes would provide some kind of PR and traction to get this 'dead' coin moving.

Others with more skills or brains on the above jump in here. It is dandy I propose such stuff, but clueless on implementation.

But anyway, what I would at least consider.

Brad

after fees and shipping and install..the ones i see actually cost 11c kWh

thus the stuff in the data hall are just sitting there off

look closely, what they say is 8c kWh often turns into 10c kWh and above after fees and summer rates

the other trick is to say the yearly ave is 8c and such to get under 10c kWh

but yeah, send me some links, I've not found any places where it pays to ship them from the current data hall to the new data hall

w/o it all being the same in the wash

also at 100 buck LTC it likely is moot anyway (today's price)

brad

edit: also of course with HALVING in less than 30 days or so. Ack! (That boat may have sailed)

Ah, the techno-nerd leg! Never to touched by 'sunlight' or they burst into flames!

(showing your, indoor reverse tan, indeed)

Well, what looks like an apocalyptic episode for scrypt-pow mining (as it relates to electric use in your area) At least in the Upper Central Midwest, where I am at!

What the hell happens, IF, the price does not reach a point where it makes sense for Bitmain L3+ units (say 75% of which are doing most of all scrypt-pow coins now) (my guess)

CAN't make it, in the sense of price to mine at this difficulty vs electric costs?

So, the halving comes, no real price increase to compensate and these Bitmain L3+ miners go OFF...

Indeed, miners of a newer scrypt-pow generation would just kill at that point. Maybe. Unless the result is a downward spiral of those dumping Bitmain L3+'s and there

LTC and scrypt-pow coins in a scramble to pay bills or drive down equipment or data hall debt. etc.

However, AS to ths newer stuff than the Bitmain L3+'s..the minority of miners, I would suspect those would be 'mitigated' by all those previous L3+ miners,

dumping mass amounts of crypto to cover losses, clean up debt to the data hall

etc. Thus dumping the LTC and otherScrypt-Pow prices even further. This could be a really, really bad cycle of events downward, the price was for all scrypt-pow altcoins, crashing.
 
It could get really ugly, really quick and at the worst of times, with BTC taking more and more market share. I think it is 65% now vs Altcoins.

This, of course, is how it is supposed to work, miners become outdated vs difficulty and price and electric prices.

But, this  seems a case where it is not in anyway gradual, could conspire to go 'poof' on this Bitmain L3+ equipment like really, really fast, with all the vectors

of scrypt-pow prices/difficulty/and BTC dominance. The speed of this happening is what I find that could be amazing, it litterally could be as fast as the next

bill cycle to the electric utility and everyone 'blam' turns the 'switch' off at the same time.

Anyway, not liking the direction this is going, with the above combinations. Also I"m guessing on above, but makes me feel 'sketchy' even more on my LTC and altcoin HODL.

I'm out of home mining it seems for good as an aside.

MY electric (HOME) is now Minnesota (Xcel) is going to be with summer rates around 17c kWh.

The data Hall in Iowa is also getting hit. 11c kWh Summer Rates.

 So, my Bitmain L3+'s are turned off at that site yet, as not worth turning back on yet.

Again, just saying, the trends above could be coinciding to drive equip/price down and difficulty going down may not keep up with those who are left

in scrypt-pow mining. The Bitmain L3+ units as the majority of units out there, could just plain 'take everyone with them' as they go off and the depending

on how much the operators DUMP their LTC and Altcoins, this could be a very bad downward cycle. And quick as *f*ck*.

Also, the LTC halving MAY not be a lot of help in price. Look at 2015 halving for LTC and see the months it took for that to

change prices and pump LTC. I think it was like a 1 year and 5 months or some such. Damn, re-read above, not a lot of encouragement.

Not looking likely that my Bitmain L3+'s will ever be turned back on. (Have to keep equip to keep IRS happy for equip depreciation or will get ding'd..ie. doorstops)

Crypto: Always Drama!

later

Brad

bump.

(because thread moved to the proper area by moderators. thanks)

The catch is LIBRA is 'run' on Facebook and 'supposedly' is a 'partnership'.

Thus if Facebook gets told they can't run the LIBRA coin itself, that does not mean they will not simply 'revamp' it thru

one or more of the LIBRA partners and use that coin in the same manner. They will simply 'detach'.

The idea is out there now, someone will pick up the torch that is acceptable to the powers that be if Facebook can't be

the figurehead anymore. Again, Facebook makes $$ on this on Ads and your spending habits in more complete details, the NODES

at $10 million a pop by the other partners in this like PayPal, etc. They get all the transaction fees. So again, this will fly

eventually in some manner on Facebook.

Would be nice if they were really 'closed down' and had to use BitPay. But that won't happen because then Facebook

would have not as good or limited spending data with open source and/or manipulation.

This could really mess up 'altcoins' for example though if approved. Why use Litecoin as the Silver to Bitcoin's Gold and store of value

status, when Libra coin, could move into that spot for altcoins like Litecoin and the others for quicker transactions, etc. Also on top

of that, if above scenario has any merit I'm saying above, stablecoins also would be up sh*tcreek.

The opposite of what you say is that there will be NO delayed Altcoin Season, as they will lag so far behind

the Bitcoin Pump..that Bitcoin will bleed them dry. Thus 'virtual death' (as compared to BTC price vs pump) of Altcoins.

Not saying it is so, but that is what the other half of the argument on altcoins are saying now. Bitcoin is going to gobble up all the selling

and this will be more or less the way, stuff will run from now on, altcoins are dead, is the FUD.

Actually, all of crypto could dump badly on the USA IRS Guidelines and/or Mt.Gox dumping coin, etc.

As usual, still in full HODL mode.

Crypto: Always Drama (tm: Bitcoin)

Brad

Let's face it. Bright/Dumb/Clueless/Newbie...at this point of adoption of Bitcoin we are just kinda 'winging it', as they say.

Just not enough info. Most of us I think are running on what info we think we may glean from all this and our 'gut' feelings on Bitcoin and such.

Chump or Champ.

We will be the first to know I guess.