but this new endeavor from what I understand is for MERCHANTS to take LTC...w/o the credit card option ..it still may work..but will be slow

would be a better angle to try again to get Bitpay to take LTC again....both are longshots in my view.



I saw that too. WTF is Eos and can you scypt-pow mine it (I'm limited in my skills)


Want to play? I hope to be at 11,000mh scypt-pow (all LTC) by next week.....doubled down and took a risk...(actually, that may not be all that much anymore in reality)

how big is your scrypt-pow playground?

don't matter if I'm mining till End of Life on the miners I have now ...into the solo401k as self-employed for tax purposes

thou...you could make the point I could run out of miners (doorstops) due to difficulty before I filled up the solo401k (15k) etc

But ..catch is ...must have the self-employed income to do this...damn hard to do this w/o miners (i suppose trading would be the same)

thus my bet to either

1) run out the clock till 'doorstops'

or

2) perhaps float along for a bit.....modestly and fill up the old solo401k (which you can fill up with crypto in the sandbox if it stays in the sandbox)

but your point is well taken on Bitmain and equipment

My theory is..that Bitmain will ANNOUNCE pre-orders for such an improved miner NOW...mine it over the summer and then release it to the public in the fall

after they have run up difficulty again by 30% plus like they did from dec to march on the previous batches of many flavor'd ASIC's they sell

So if my 'guess' works....run the works into the ground by August and mine what I can before all doorstops..if NOT even better...

(actually, being a hobby miner again would be 'soothing' ...)

anyway, again also my equip purchase of bitmain's stuff was a 'hedge" against 4K coin and too much dubious altcoins (that I got equip with)

so a bit of diversification...but IF your point on it, all going off the rails due to new equip by bitmain I THINK I can mine for a bit more and wrap it up

and at worse these last 12 miners were just oranges for oranges (even)...hedging is never a sure thing...it just stops me from crying like a small child

and gives me the illusion that I know what I'm doing....Will be 5 years on Friday 4/13/18 since I signed up to Bitcointalk and got into crypto world

sh*t still clueless....but by all means HODL your crypto if you can...or make a run for the border in my boat if you can't...and again only what you can

afford to lose

brad

(Bitmain: Evil as a leisure activity. Fun for the family! It's like RV'ing down a mountain, out of control, with them driving remotely from China...why are we so stressed in the camper they

wonder? The view is nice, why all the screaming?) (tm Bitmain = It works, till it doesn't, deal with it)

I've never gotten the wallet on windows 10...finally gave up and used a paper wallet...had a meager amount on a web wallet in feb and it was hacked
thus went the heck with it .tossed it all on 5 paper wallets

I'm feeble minded...I still have BTC hoard and have mined a crap load of Alt coins since...thus will purge the altcoins first (some are pretty good so not all)

and save the BTC ...I figure BTC will be the last Tulip to fall (on my worse days) ..(hey, don't toss stuff at me on Bitcointalk...I can get a bit down on the prices)

but sucking it up in the above manner (though I could panic sell ALL my altcoins like a 12-year-old child on a whim...just saying)

So opposite play is my play from Tera2 I also make money (or have ...future .er...meh?) mining..which likely drives most of you guys to fits...but whatever floats the boat...

I find it 'invaluable' on when you panic like a 12-year-old child...the timing is important...with crypto...most of my success is in panic mode as such....but timing it is everything

(perhaps I'm simply skilled at being the first to panic under any crypto circumstance) ..whatever...works for me

Remember! I am at a point where paying off expenses for mining and tax man with less than 1 year and a day coin...(40% if less than a year and 10% to the state)...it is likely

high ..but how I am doing such...ONCE the tax man is caught up and some dubious alt coins to do this also for equip end and of course, the dubious alt coins will PAY for these 12 miners...

I plan to MINE ALL MY HASH directly into a self-employed solo401k on the short term (until maybe price comes back) till full (prob my limit this year is 15k)

thus if I mine 3k a month say...and put 3k into the self-employed solo401k THERE ARE NO TAXES...ACTS LIKE MINING EQUIP FOR TAX PURPOSES..if you dump ALL OF IT IN..

will do this as a hedge and move over 1 yr old dubious alt coins for expenses and electric and to live on (retired) (15% tax rate and 10% for state) max would be 25% Cap Gains.

Thus, can accumulate some LTC on this sideways price as a hedge for a couple months till hopefully LTC price recovers or pumps....get rid of some dubious altcoins

at low tax rate...(if the price dumps won't matter I got equipment) and with a self-employed solo401k ANY $$ put in tax-free I can convert back to LTC (at least till

I hit my suspected 15k limit) as long as I move and play with the crypto buy and sell in the self-employed solo401k sandbox....

This was a 'short-term' hedge to get over the sideways price of LTC with these 12 L3+'s I got (6 last week 6 at a lower price this week) ...so the 'hedge' is mining

into the self-employed solo401k ...getting tax advantages and crossing fingers stuff stabilizes at a higher price after USA Taxes are done April 17th, I think it is this year.

So it is more than a bit specific on getting these Bitmain L3+ units with already ROI'd the equipment and the above games...this likely won't work unless you have most

of the stuff in play above...the real bet is....will difficulty go sideways for a bit when the price maybe goes up to a more reasonable area ...

(what am I thinking...that ain't gonna happen, Bitmain will be selling L3+'s in lots of FIVE for $111 USD next week....my timing is likely wrong)

anyway, that's my bet 'balls up and stupid though it may be' Only spend what you can afford to lose ....and be aware 'eventually' we will ALL get dumped out of

mining scrypt-pow and LTC .....there will come a point where you'll go a 'few miners too far' at the wrong time and BLAMO...hobby miner again...

(actually, would be 'soothing' to be a 'hobby miner' again...no drama...probably why my 'feeble mind' is taking this bet....let the madness end!)

damn losing it ....getting 12 Bitmain Toasters will do that to a fella

brad

Naw I'm gonna ship or get all my ASIC's back....and store them in cabinets...I'm just ODD that way...

I can open the cabinet and look at them "longingly' as a reflection (hopefully) not of Tulips)

Sorry ....see further up in the thread ...Helium is NOT going to be an X22 coin...I think they voted for PIVX format (not sure) so will be a POS coin...if I understand correctly

thus unless someone on here can invent an x11 coin with some chops...it is all over folks

I shut my 2 D3's off yesterday

I am sorry for your loss...I too am stuck with them as doorstops now...

LTC related in how I"m moving some dubious alts I have too much of back into LTC mining as a hedge for a few months ...till hopefully we see some recovery

My dubious 'hedge' on 12 Bitmain L3+'s the last couple weeks ....to ride the hopefully 'temp' sideways price of LTC and BTC the next few months...again,...

you probably have to be an LTC Miner for this to work and already have mining equipment that ROI enough to make it worthwhile the next few months as this temp solution

sometimes 'floating" in place and treading water is a good thing....if the alternative is sinking...(ie my LTC mining biz)

(IF LTC pumps, I'm golden...IF LTC dumps...I'm Tulips...the above is IF LTC goes sideways...I have a way to ride that wave...at least for a couple months)

Anyway, sucky price, stupid high difficulty, etc, etc, my only income is mining as of now (or selling dubious alts the next 3 years in piecemeal to live on)

thus this 'hedge' will NOT work for most folk with LTC ...but what I'm doing

https://bitcointalk.org/index.php?topic=1864920.msg34480264#msg34480264

Anyway, a convoluted way to survive mining LTC till the price stabilizes at least till the self-employed solo401k is filled up (and converted back to LTC)

(I used dubious alts to get the L3+'s above...figure if it goes to crap ...better off 'washing' the dubious alts I have too much of into LTC in the above manner)

Anyway, you probably can only do this if you are mining ..must show a self-employment income stream...so MAYBE trading LTC would work also for this.

Anyway, how I'm trying to keep the 'boat afloat' and also mine ...till things get better (or my last hope on the life raft before the 'shark' grabs me)

Perhaps above is delusional...but I always figured I'd go 1 or 2 miners too far, before it all went Kaput...so, just went for it...(hey, its only money) (sob!)

later

brad

Again, to clarify why I got 6 units each from the last 2 price batches of L3+'s on the Bitmain site....(not everyone will have this angle to try this)

Total of 12 Bitmain L3+'s with PSU's etc.

or you could call it "The convuluted bigger miner hedge..that may not work..and just moving the deck chairs around on the Titanic project!"

To clarify why a few miners (that have Bitmain L3+'s that have ROI'd already...providing an income stream and self-employed solo401k)

MAY want to get these Bitmain L3+ units now....

(dubious as this may seem at first glance)
 
On my current order of 12 L3+'s ... for all ...I need (with coupons etc and psu's etc and shipping etc)

$205.25 to break even AFTER electric is paid for all of them...this is 50% off for taxes with short term mining (less than a year and state tax) with 25% equip deduction this year.

This is a hopefully 'temp' situation win or fail on IF the price goes sideways or drops on BTC and LTC etc

Starting this month with prev year IRS stuff covered (paid this year...had to account for selling coin at capital gains)

I will mine all my LTC directly to a self-employed set up solo401k so...3k made a month say would be 3k in solo401k no taxes (actsl like equip)

but you can only do that showing self-employed income....(but you can in the solo401k sandbox turn it back into crypto ...but keep it in the sandbox)

Thus it acts like a hedge, and a workaround and allows me to save LTC for the hopeful pump...and get rid of dubious coins to pay expenses at the long-term 25% cap gains

So those PM'ing me...that it won't work....hard to see how it can't (at least starting this month) ASSUMING

with the 12 Bitmain L3+ units on top of my other Bitmain L3+ units that have ROI'd ...if I can keep the income stream going to over this current to fund this solo401k (till full)

at these depressed price for BTC and how LTC price relates to such...maybe I can limp thru the summer, fill up the solo401k and then it is all over....without this hedge not

sure I'd last till August...so this is not a 'common' angle....so keep this in mind...those who want to buy equipment...you may want to HODL...

But again this is a temp hedge on Bitmain products...for a few months till hopefully, we creep back around to 180 usd LTC or some such...

Again, this MIGHT have been incorrect getting these units (12) over the last couple weeks...but if it dumps the altcoins I paid with will dump just as bad as this equip bet

if I can keep it sideways and pump into solo401k that also works for a few months (till full for the year)

and of course, if it goes sideways too long in price and/or craters down to 4k ...all of this above 'hedging' won't matter anyway...

So anyway, Pump I'd be golden, ...sideways (meh! maybe) and dump (we are all doomed)

I would NOT recommend this unless your circumstances are like mine above (retired, current income stream mining, postponing living off flushing alts month to month in hoard)

Again, only do what you can afford to do...If I still had a regular job I'd be living off the mining (no new machines) and the job would be buying cheap coin...

but my angle above (hedge) with the 12 bitmain units and current miners only works with income stream...and if LTC scrypt-pow goes 'stupid' etc...all the alts I hold will too

so again, in my case not a hell of a lot of risk... again only buy what you can afford...of whatever coin/miners/etc

AS to my doubters of this strategy of getting 12 L3+'s at this time...you could very well be correct...and even call it 'speculation' but without this income stream

from mining....damn hard to HODL coin ...EXCEPT in the above manner by funding (temp for a few months) crypto into the solo401k off monthly mining revenue (may 18 onward)

so I am HODL'ing LTC...just funneling it funny with my also dubious alts (also going sideways) to the LTC into a solo401k

then again, this all could be a 'tulip' induced fantasy...

But all I mine to solo401k I keep and also able to live on alts at 25% capital gains rate

The hedge is sideways price. Goes up ok on this. Goes down we are all screwed and tulips

I’m just hedging sideways and with solo401k as business self employed. If everything I

Mine is same as equip. Say 3k mining a month and all 3k can go into solo401k

Will use dubious alts at over year at 25% max long term cap gains includes 10% state tax

Depend on income I can fill this solo401k up to say 15k and convert it back into the alt coin I’m selling

In the above manner    It is a hedge till price recovers I mine and have enough alts in this manner not

To touch btc hoard only alts. So I can play this game to wrap up mining sideways till it recovers as you hope

But plan is crypto next 3yrs w/o traditional investment or soc sec just for hoots

Mining has been berry berry good to me. And All my crypto of any kind was mining. None job before

My retire. All alts. Btc hoard same since 2015. This is all from mining hodl on alts

So again if pow script fails alts are junk anyway. If btc goes up great but I got btc. The game is

Can I go sideways price and still float my retire bet and keep mining. Maybe this is it. But

I consider bitmain units under my circumstances a hedge on sideways price and diff rise over next

Few months. Thus pump great. Crashes to say ltc to $50 usd will be no more mining

 It survive sideways with dubious L3+’s.  Till crypto recovers and others have quit mining. Well I have a tiny

Hedge with that. Even the data hall is month to month. (That is recent lol
Due to crypto price dump)

We all play the games we know. You may be right. But hard to generate ltc if you retired and

The crypto miner monster has to feed itself on what the miners kill. (And me too)

Thus a bitmain plug. If you are large enough with a few tricks. I would not recommend this to

Anyone using job income and only 25% equip deduction after elec. myself with roi’d bitmain units

I can play these games. If it pumps I’m ok. If it dumps to 50 buck ltc I’m  out of ltc mining how I was out

Btc mining in 2013.  But if I can play in solo401k sandbox for a few months on sideways price and

Crypto recovers. I’m also golden   .better indeed if others leave mining. .. doomed of course at tulips. But there you are.
 

Chump or Champ. Pump or Dump. You can use my posts in future on either

Crypto always drama

P s. Sorry for format on phone.

Edit. Almost forgot. I can only fund the solo401k as self-employed income stream. Thus
Retirement to see income game. In that I’m retired. And over 59.5 yrs. thus no more mining
Can’t mine to solo401k as a sideways price hedge and above games. No mining all alt coin
Liquidation for my retire 3 yrs early w/o use of my traditional retirement funds   A experiment.

Worse case crypto tulips or mining halt. I make Edward Jones broker unhappy with
The retire 3 year early plan. Only play with what you can afford to lose.

hmmm..how come the only folk I ever see saying "Garlicoin is great" are NEWBIES...I sense a 'trap' here...

and of course, any info on WTF the devs are doing to develop this coin besides (hey, everyone love garlic bread ..thus the coin will work) view

Get some Legendary to plug this coin and some dev details on coin improvement and I might be more 'agreeable'

my 6 were 100 buck coupons....between all 12 units from last week and coupons etc etc I need to make $190.21 per unit..unless I get coupons from last week and next week

I have (2) 100 buck coupons left...I should probably give them away before I do something MORE stupid in the future....the coupon date is June 1st..

we could be seeing L3+'s in batches of 10 only for $111 usd. (This is never gonna work, if bitmain just continues to pump out units like toasters...that is probably the real trap!)

after electric to break even...with my 25% equip deduction and CURRENT 50% off to IRS and state tax set aside (again a bit high) cash reserves

once this equip is up and comes into play..my prev year solo401k (behind paid with cyrpto this year) I'm caught up and ANYTHING I MINE

all goes to solo401k to probably the 15k limit on estimated income 2018....I'll pay for the electric and hosting out of the dubious over 1 year

alts at 25% total capital gains including the 10% to the state...thank you very much

(daddy, needs a price pump ... as the other part of this 'dubious, fairy dust, unicorn, rainbow fantasy)

Bitmain: It is always a trap, Jihan Wu knows all! You can never win! Brahahahaha (tm Bitmain, including 'evil laugh')

Well, if it is SO bad that say ..by JUNE 2018 an L3+ is making less than $1 a day...and it is the majority of miners left in the world at that point...well, the

shock of scrypt-pow, basically dying, due to sideways price and the large pow scrypt difficulty drop...I'm sure short term it would be reflected in a BTC price of

say at least $4k and all the other altcoins would take even a more brutal hit

so, yeah ...I got more 6 units and 3 PSU's today ...for a total of 12 units from last batch..(had 3 PSU's..that cut the price by about 450 USD with shipping).....may just be moving deck chairs

around the titanic....but at those prices...with the previous 6 I got for

a total of 12...I essentially have to make about $200 bucks each on them AFTER electric ..... to break even..(also can use the equip deduction to catch up to almost the last

of my IRS I owe (paying this year's coin) to fund my self-employment solo401k (again cashing this years fund)...

so anyway, all will be even more or less and the puppy will sink, or by God the ship will go down all screws turning full speed as she slides under the waves

so even if it only lasts till say JULY....I can mine all my coin mined (including what I usually take out for electric) 40% plus 10% set aside to the IRS. WILL NO LONGER APPLY>..ALL CAN

go into the solo401k (acts like equip depreciation) and I can take alt coins MORE than 1 year and 1 day and just pay 15% capital gains this year and 10% for

the state....so 25% max...AS LONG AS I AM STILL MINING OVER THE COST OF ELECTRIC...so essenitally IF I MINE 3k a month...and all 3k goes into coin and I eat

electric out of dubious alts more than 1 year and 1 day for a total of 25% capital gains (includes my 10% state tax) ...well....it is a much better HIGHWAY indeed!

(If I'm in HODL mode and trying to HODL LTC over dubious alts and the taxes above etc, etc....lots of hedging ..even I'm confused)

so anyway, thems the odds....and I have a mess of LTC in AUGUST more than 1 yr and a day hoard...I can live off..(retired) and play this game till the end of the year

even if I'm just trading electric for coin by Dec 2018 ...and the coin price stays MEH!...it will be just like me mining and getting coin in 2015 sideways

same game, same hedge, hopefully, same result but instead of my short-term hit on paying out crypto for costs at 40% and 10% state (a bit high what I use off the cuff)

to a FLAT 25% for the crypto over 1 year and a day capital gains max this year...I can do that all day long......and such....and play the 'accumulate LTC and 2015 repeat

of 'why the hell am I doing this?" and hold that LTC game.....(sigh....2015 sideways price sucked big time)


but hell, if scrypt-pow goes away at say 10c kWh ..which I assume a large amount of bitmain users pay via data hall and rent or etc...if the units can't make

it that way ..due to price and difficulty ....all of crypto..if for no other way then short-term (6 months) is gonna be destroyed the rest of the year

so, again, maybe re-arranging deck chairs on the titanic....but if the dubious alts I'm using to pay for this (not mined no capital gains) are around IF scrypt-pow

dies...well...again IMHO, the dubious alts I'm paying for these units will be as toasty and shot to hell as the miners...so went for it

(damn, here I started in 2013 as a kool-aid drinking, wide-eyed newbie, unicorn/fairy dust believer and now 5 years later and 23 bitmain products ..back where I started...

the crypto world be cruel...let me tell ya!)

boom or bust ...chump or champ....what I'm up to

the really, really secondary question is should I take my solo 401k $$$ from last year and the solo 401k dollars from this year and DOUBLE DOWN with those funds in the

solo401k sandbox and buy cheap crypto etc or should I keep it in USD? How freaked am I ...if completely freaked USD, if kool-aid drinking fool crypto....(as long is it

comes and goes buy and sell and accumulates in whatever USD and crypto in the sandbox and follow 401k rules)

that is my REAL big balls question...the above equipment MEH! that is arranging deck chairs ...how to play solo401k funds is my real 'man up' moment

(crypto always drama)

BCH is all big miners..that is the original reason for the fork....no way they are gonna go POS coin, IMHO...

no clue ...but mining currently sucks the big one...not sure if BTC was to hit $4k and LTC prices were to follow, as usual, anyone could make any $$$ worth keeping up an L3+

this, as usual, is from www.litecoinpool.org/calc litecoinpool calculator (which includes its 1% bonus over as a free LTC pool)

So at 12c kWh and 300mh and 1,250 watts, a KNC Miner at $114 LTC gets:

KNC Titan 300mh = -$1.18 loss per day!

24 hours   0.02118514 LTC   2.42 USD   3.60 USD   -1.18 USD
7 days   0.14829597 LTC   16.91 USD   25.20 USD   -8.29 USD
30 days   0.63555416 LTC   72.45 USD   108.00 USD   -35.55 USD

So at 12 kWh and 250mh and 400 watts, a Bitmain L3 at $114 LTC gets:

L3 = $0.86 per day!

24 hours   0.01765428 LTC   2.01 USD   1.15 USD   0.86 USD
7 days   0.12357998 LTC   14.09 USD   8.06 USD   6.02 USD
30 days   0.52962847 LTC   60.38 USD   34.56 USD   25.82 USD

So at 12c kWh and 500mh and 800 watts, a Bitmain L3+ at $114 LTC gets:

L3+ = $1.72 USD per day!

24 hours   0.03530856 LTC   4.03 USD   2.30 USD   1.72 USD
7 days   0.24715995 LTC   28.18 USD   16.13 USD   12.05 USD
30 days   1.05925693 LTC   120.76 USD   69.12 USD   51.64 USD


This is the 'perfect storm' of Bitmain as a monopoly of 'many flavored' ASIC's (scrypt-pow above) and their method of equipment dump (toasters) with the
overall amount of miners (again of any flavor) above again...scrypt-pow (LTC) and still stuff flowing out....with the low price....BTC leading the way...FUD
and $1.5 Billion dollars of mt. gox BTC ready to dump, as soon as the trustee panics (driving BTC down and crushing alts) I'm not sure how it could look
much worse for LTC at this point in time.

We could be done mining practically anything ....over say 5c kWh electric of ANY POW COIN by say July 2018.

So the price, either breaks up soon, to overcome all the equipment and difficulty...or the MAJORITY of scrypt-pow miners left mining in the world will be L3+'s

PERHAPS, after April 17th in the USA and taxes are filed...we could see SOME price stability....but not looking to hot right now on any crypto front. That is

on 'slim' hope on what seems to be happening above.



ugly, ugly, ugly

brad

Well, I sold 639 last week at $9.49..in that my timing is always wrong it should pump at least 3x now soon.

(I have more...but my timing on selling stuff in crypto world generally sucks...)

Is decred going to fork on the Obelisk decred miners...or is that a non-issue because of 'low numbers' *unlike if Bitmain pumps some of these out!*

just curious

at 800 bucks it was still less than 4 bucks a day ...if I remember right from a while back...was not all that great at the $800 buck price .now it is beyond stupid to get one

Only 1 coupon per unit...so I think $200 is the largest bitmain coupon out there now. FYI...so if that is still correct it is still a $1,600 buck machine (or 2x the previous price)

It is now $1,800 now on Bitmain....the creator of Ethereum said he is not in favor of a FORK for ASIC's ..thus Bitmain (being evil and all) saw this as a way

to 'gouge' more $$$ out of folk....IF you got it today, it is about what $4 a day? (something like that a few days ago)

A MAYBE buy as a 'toy' at $800 buck ..ie gamble ..now not so much...also I don't think they allow coupons on these units (or did not on batch 1)

Bitmain: "evil is as evil does...adds to the clarity of purpose..don't ya know) (tm: Bitmain)