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Author Topic: Launching the Antminer L3+, World's Most Powerful and Efficient Litecoin Miner  (Read 284216 times)
Searing
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February 01, 2018, 04:15:05 AM
 #3881

....yet here  we are....(as I predicted) difficulty going up while coins prices go down. Soon it will be raining blood in our little world as all these stunned dimwits from corporations and new miners, all jump into the pool at once. Won't be safe to buy or mine again until all the easy money morons get the hell out of the pool.

So far, I figure the following:

1) IF the BTC price goes back up to 20k and say 500 buck LTC etc....and everyone is yelling for scrypt-pow miners....I'll still be golden with my 'evil' knc titans and
fully concentrated 'evil' bitmain miners..........and plug merrily along...no risk

2) IF the BTC price goes to 6k and say 75 buck LTC etc...and everyone is yelling for blood and dumping scrypt-pow miners...I will do what I did at $1.80 LTC in 2015 and
whine and chug and accumulate...eating electric and hoping it all comes back...again ...what the heck...got the miners ...little risk

As an aside, I took away all temptation and dumped my 5 $800 buck coupons from obelisk siacoin miners (dubious purchases from 2017) and will get ONE FREE for coupons a decred unit
from them this year (likely July 2018 ouch) and a future $250 buck coupon (sheesh!) the buddy is gonna gamble big time imho, and take the other 4 at 1k each to cover
my coupons and allow me the 5th decred miner......he is big enough ...the gamble is no big deal.....

but me

any ASIC right now is IFFY CITY .....

I still think, everything is gonna break wide open in say June 2018....obelisks of any flavor may be in play with a sia coin storage network....GMO BTC miners may be made
available to the public maybe...bitmain will likely have more surprises (likely a decred miner or gasp say an ASIC miner for etherieum ...remember this...may not be that...but
IMHO, they will have a big surprise of some sort around June 2018 IMHO.)

mine crypto they said, it will be fun they said, in 2013...sheesh..what a cluster

anyway, trying to refrain.......I just feel stuff is gonna break equip wise big time in May/June 2018. (just my gut) Sad






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February 01, 2018, 05:46:14 AM
Last edit: February 01, 2018, 07:40:27 AM by Sandal_Hat
 #3882

....yet here  we are....(as I predicted) difficulty going up while coins prices go down. Soon it will be raining blood in our little world as all these stunned dimwits from corporations and new miners, all jump into the pool at once. Won't be safe to buy or mine again until all the easy money morons get the hell out of the pool.

Unfortunately there is alot of sensational news on mining for all coins,  not just btc and ltc. No miner will win if difficulty is too high. Everyone will juz mine even if it makes a couple of bucks a month. Many newbies wont break even.

I hope our dear bitmain finds some kinda cooperative legal solution with their competitors Smiley

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February 01, 2018, 05:48:15 AM
 #3883

It is very ironic - bitmain just destroyed Obelisk with a single move.

not something you would expect, Obelisk, eh?
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February 01, 2018, 06:03:34 AM
 #3884

I would refrain from buying this unless they come up with less horribly sounded machine and stop flooding the market with these machines. The ROI is just not there anymore. So buy at your own risk. Thanks

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February 01, 2018, 07:00:32 AM
 #3885

Obelisk is releasing their new september batch for 1300$ or something..
ääähm you can buy the A3 for 900$ from Bitmain march batch. Nice move Bitmain.
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February 01, 2018, 08:42:36 AM
 #3886

As this thread rushes headlong towards the 1 year mark the results are exactly the same as the Bitcoin asic roll out.  The very first people sort of made out ok but no one did much better after that.  And of course just buying LTC was the best move all along anyways.  /sigh  Where’s that guy with 300k a year income?
All the posts are there from years back and yet no one learns.

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February 01, 2018, 08:47:11 AM
Merited by Searing (1)
 #3887

Hashrate from Litecoin went from 40 TH on December 1st to 120 TH January 31th, this is incredible. Revenue went down from 25$ a day to 6$ a day.

This is becoming the next D3 miner. And all the January and March batches aren't active yet..

There are no other great coins to mine as well..
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February 01, 2018, 01:32:58 PM
 #3888

It is very ironic - bitmain just destroyed Obelisk with a single move.

not something you would expect, Obelisk, eh?
....yet and while they were doing that, they also destroyed the L3+ AND the S9 and no one even noticed...well....except for me and a few others. People would be wise NOT to buy ANY miners for a while. You're not going to believe how bad this is going to get. Bitmain just swamped the entire ASIC market right before a huge Currency price correction. Blood will flow.

You only live once....if you do it right, once is enough.

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February 01, 2018, 06:22:37 PM
Last edit: February 01, 2018, 06:34:03 PM by Searing
 #3889

As this thread rushes headlong towards the 1 year mark the results are exactly the same as the Bitcoin asic roll out.  The very first people sort of made out ok but no one did much better after that.  And of course just buying LTC was the best move all along anyways.  /sigh  Where’s that guy with 300k a year income?
All the posts are there from years back and yet no one learns.


well, my issue right now is 50% goes to tax man on mining I'm doing now.....(40% fed about and 10% something to the State)....I also get the good old 5 year compressed
equipment deduction applied in 1 year ..which IF I pay taxes (I will), I will get a solid 25% additional off taxes I'm gonna pay anyway

so risk is 25%

ok....still does not make much sense to get the bitmain products...at this point

BUT....

Looking at JUST the stuff I have mined SINCE Jan 1st for this month.....I'm looking at a 25% loss.....so no usual, if I use a months mining to buy a miner and  I dont have the 40% capital
gains to take out LTC to make for miners....which is damn attractive...this also would go for if I move it to USD...but still...

at this particular point of time...it would be some loss....thus ...in this window.....LTC mined to BCH to bitmain equipment of which ALL can be applied to what I made this

month...thus ..with this ....I can start Feb 2018 as having NO INCOME yet...would be a wash  ....LTC to BCH to MINER would be the risk on this newly mined coin this month

more or less

so....

one of two things

1) Crypto will come back....above 10k or even stay in the 9 to 10k range...and this brief respite will be a good hedge on having equipment BEFORE it ramps back up.
(games we have all played in the past) ...using the above .....newly mined crypto w/o consequences to the tax man (unlike dec 2019 when I took a bath paying elec/data hall)

2) Crypto will tank on say Tether games being revealed and BTC will hit say 6k and say LTC dumps to 60 bucks and all other alts crash....and I time warp back to
2015 ..when I mined barely floating and accumulated crypto..whining the whole year...in other words the lack of capital gains this year (last 30 days)on crypto mined and getting
equip at the supposed higher prices now (before it dumps0 ..under above.... dismal view above...is my hedge...as I mine away and hope for a price pump

so 1) do you feel lucky? 2) do you want to hedge your bets on crypto mined at these prices so far this year and little/no capital gains on newly minted coins and punt to equip

So at my level of tax man games and equip depreciation......can I make back 25% to break even assuming the tax man and equip deductions above

probably no wrong choices in my boat here...but still on the fence


As to folk who are going to use hard BOUGHT fiat....or crypto more than 1 year and a day and cashing out for 20% capital gains (or in my case that does not apply would be 30% with
state tax)...or god forbid take out a loan! Ack! stop reading this now!

that is a lot of hope on say 75% real $$$ not going to say the tax man and a 25% equip deduction....of course, if you make enough on your home biz mining you can probably
say 25% would go to tax man add the 25% equip deductions, if you mine enough.... and move that up to a 50/50 gamble...still ugly

but anyway, I'M STILL SITTING ON THE FENCE at my calcs...so be cautious...I"m playing with 25% to break even and STILL parinoid about the march equip dump by coming by all and

also, there is gonna be a HELL OF A LOT OF MINERS DUMPING IN MARCH FROM BITMAIN...of many flavors.......we very well could get some miners...and be mining for fun if

not profit with high difficulty in the old days of 2015 accumulation of LTC or other crypto games (ack! $1.80 ltc ack! flashback ack!)



But also be aware...in 2015 THERE WAS NO SCRYPT EQUIPMENT HITTING THE MARKET...thus the knc titans as the last boat to float could tread water at these low/low prices
that would NOT be the case say March/April...also the bitmain terms say they DON'T have to ship till April 10th...so if the price pumps, big time, they can do the usual
keep the miners and mine, for a month....(evil does as evil does)


anyway, much to contemplate at my side of this bet...and probably more complicated for hobby miners...not at my tax level....will have to think on this

1) hedge equip for high crypto prices maintaining or coming back?

or

2_ hedge for equip now at high crypto prices...to have something to mine...and/or accumulate (cry over) if say BTC tanks to 6k and scrypt pow coins follow
with eventual recoup as crypto prices recover over the year (knock wood)


this crap was a lot easier to dwell on when the price of crypto was trying for a moon shot.......now I feel like the crypto capsule I"m in may not make orbit
nor will the capsule's parachute deploy for splashdown! Damn, sad affairs for my 'supposed' moon shot in the old HODL capsule...this year for crypto!

again shall 'naval gaze at my belly button' and meditate (probably with a beer or two)

fun hobby this whole mining gig is an't it Smiley


Hashrate from Litecoin went from 40 TH on December 1st to 120 TH January 31th, this is incredible. Revenue went down from 25$ a day to 6$ a day.

This is becoming the next D3 miner. And all the January and March batches aren't active yet..

There are no other great coins to mine as well..

Also a good point above......still thinking on this however, there is something 'comforting' in being completely revenue 'neutral' tax man wise up till Feb 1st
by getting some of this march equipment as a hedge, but even at my above tax situation.....I sense a 'trap' Smiley

bitmain: we trap miners and DON'T catch and release..... (tm bitmain)




Old Style Legacy Plug & Play BBS System. Get it from www.synchro.net. Updated 1/1/19. It also works with Windows 10 and allows 16 bit DOS game doors on the same Win 10 Machine! Five Minute Install! Look it over uninstalls just as fast! Freeware! Full BBS System! It is a frigging hoot!:)
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February 01, 2018, 06:47:57 PM
 #3890

As this thread rushes headlong towards the 1 year mark the results are exactly the same as the Bitcoin asic roll out.  The very first people sort of made out ok but no one did much better after that.  And of course just buying LTC was the best move all along anyways.  /sigh  Where’s that guy with 300k a year income?
All the posts are there from years back and yet no one learns.


well, my issue right now is 50% goes to tax man on mining I'm doing now.....(40% fed about and 10% something to the State)....I also get the good old 5 year compressed
equipment deduction applied in 1 year ..which IF I pay taxes (I will), I will get a solid 25% additional off taxes I'm gonna pay anyway

so risk is 25%

ok....still does not make much sense to get the bitmain products...at this point

BUT....

Looking at JUST the stuff I have mined SINCE Jan 1st for this month.....I'm looking at a 25% loss.....so no usual, if I use a months mining to buy a miner and  I dont have the 40% capital
gains to take out LTC to make for miners....which is damn attractive...this also would go for if I move it to USD...but still...

at this particular point of time...it would be some loss....thus ...in this window.....LTC mined to BCH to bitmain equipment of which ALL can be applied to what I made this

month...thus ..with this ....I can start Feb 2018 as having NO INCOME yet...would be a wash  ....LTC to BCH to MINER would be the risk on this newly mined coin this month

more or less

so....

one of two things

1) Crypto will come back....above 10k or even stay in the 9 to 10k range...and this brief respite will be a good hedge on having equipment BEFORE it ramps back up.
(games we have all played in the past) ...using the above .....newly mined crypto w/o consequences to the tax man (unlike dec 2019 when I took a bath paying elec/data hall)

2) Crypto will tank on say Tether games being revealed and BTC will hit say 6k and say LTC dumps to 60 bucks and all other alts crash....and I time warp back to
2015 ..when I mined barely floating and accumulated crypto..whining the whole year...in other words the lack of capital gains this year (last 30 days)on crypto mined and getting
equip at the supposed higher prices now (before it dumps0 ..under above.... dismal view above...is my hedge...as I mine away and hope for a price pump

so 1) do you feel lucky? 2) do you want to hedge your bets on crypto mined at these prices so far this year and little/no capital gains on newly minted coins and punt to equip

So at my level of tax man games and equip depreciation......can I make back 25% to break even assuming the tax man and equip deductions above

probably no wrong choices in my boat here...but still on the fence


As to folk who are going to use hard BOUGHT fiat....or crypto more than 1 year and a day and cashing out for 20% capital gains (or in my case that does not apply would be 30% with
state tax)...or god forbid take out a loan! Ack! stop reading this now!

that is a lot of hope on say 75% real $$$ not going to say the tax man and a 25% equip deduction....of course, if you make enough on your home biz mining you can probably
say 25% would go to tax man add the 25% equip deductions, if you mine enough.... and move that up to a 50/50 gamble...still ugly

but anyway, I'M STILL SITTING ON THE FENCE at my calcs...so be cautious...I"m playing with 25% to break even and STILL parinoid about the march equip dump by coming by all and

also, there is gonna be a HELL OF A LOT OF MINERS DUMPING IN MARCH FROM BITMAIN...of many flavors.......we very well could get some miners...and be mining for fun if

not profit with high difficulty in the old days of 2015 accumulation of LTC or other crypto games (ack! $1.80 ltc ack! flashback ack!)



But also be aware...in 2015 THERE WAS NO SCRYPT EQUIPMENT HITTING THE MARKET...thus the knc titans as the last boat to float could tread water at these low/low prices
that would NOT be the case say March/April...also the bitmain terms say they DON'T have to ship till April 10th...so if the price pumps, big time, they can do the usual
keep the miners and mine, for a month....(evil does as evil does)


anyway, much to contemplate at my side of this bet...and probably more complicated for hobby miners...not at my tax level....will have to think on this

1) hedge equip for high crypto prices maintaining or coming back?

or

2_ hedge for equip now at high crypto prices...to have something to mine...and/or accumulate (cry over) if say BTC tanks to 6k and scrypt pow coins follow
with eventual recoup as crypto prices recover over the year (knock wood)


this crap was a lot easier to dwell on when the price of crypto was trying for a moon shot.......now I feel like the crypto capsule I"m in may not make orbit
nor will the capsule's parachute deploy for splashdown! Damn, sad affairs for my 'supposed' moon shot in the old HODL capsule...this year for crypto!

again shall 'naval gaze at my belly button' and meditate (probably with a beer or two)

fun hobby this whole mining gig is an't it Smiley


Hashrate from Litecoin went from 40 TH on December 1st to 120 TH January 31th, this is incredible. Revenue went down from 25$ a day to 6$ a day.

This is becoming the next D3 miner. And all the January and March batches aren't active yet..

There are no other great coins to mine as well..

Also a good point above......still thinking on this however, there is something 'comforting' in being completely revenue 'neutral' tax man wise up till Feb 1st
by getting some of this march equipment as a hedge, but even at my above tax situation.....I sense a 'trap' Smiley

bitmain: we trap miners and DON'T catch and release..... (tm bitmain)




TLDR.

You only live once....if you do it right, once is enough.

 Excellent FAQ for Lightning Network https://medium.com/@AudunGulbrands1/lightning-faq-67bd2b957d70
ordimans
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February 02, 2018, 05:12:43 PM
 #3891

Hello

 I have one unit which encounter a problem, probably after power off...

So it boot, ping during one minute.
On hardware version i can see error socket...

And after red light fault, and no online... but rj45 port is ok....

Don't know why...

What do you advice ?
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February 03, 2018, 05:48:00 AM
Last edit: February 03, 2018, 08:00:54 AM by Sandal_Hat
 #3892

A 6 gpu mining rig makes lkke 3 times more than an L3 now lol. This is so sad.
Hopefully samsung wakes up to reality and decide against coming into asic. They should go make gpu instead lol.

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February 03, 2018, 04:11:22 PM
 #3893

Guys, maybe someone knows any news or leaks, about new generation scrypt miners? From Bitmain or another product. Thanks for answer

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February 05, 2018, 09:39:54 AM
 #3894

Guys, maybe someone knows any news or leaks, about new generation scrypt miners? From Bitmain or another product. Thanks for answer


No news.  It is wired that they are doing a fire sale with T9s and everything else they have found in a shad lol

But for script, just remember that they do not have any competition. They got the only and best performing miner on the market. If they build a stronger one, they will use it themselves first, but if they sell the better miner, they just compete with the L3+

That would not make any sense

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February 06, 2018, 04:04:00 AM
 #3895

Guys, maybe someone knows any news or leaks, about new generation scrypt miners? From Bitmain or another product. Thanks for answer


No news.  It is wired that they are doing a fire sale with T9s and everything else they have found in a shad lol

But for script, just remember that they do not have any competition. They got the only and best performing miner on the market. If they build a stronger one, they will use it themselves first, but if they sell the better miner, they just compete with the L3+

That would not make any sense

I would not put it past Bitmain to release a more powerful and efficient Scrypt miner sometime later this year. The L3+ is making +/- $5 per day. Don't think Bitmain will be selling many units with this daily profit.
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February 06, 2018, 07:48:28 PM
 #3896

Guys, maybe someone knows any news or leaks, about new generation scrypt miners? From Bitmain or another product. Thanks for answer


No news.  It is wired that they are doing a fire sale with T9s and everything else they have found in a shad lol

But for script, just remember that they do not have any competition. They got the only and best performing miner on the market. If they build a stronger one, they will use it themselves first, but if they sell the better miner, they just compete with the L3+

That would not make any sense

I would not put it past Bitmain to release a more powerful and efficient Scrypt miner sometime later this year. The L3+ is making +/- $5 per day. Don't think Bitmain will be selling many units with this daily profit.
Why not?  Last bubble time ASICS we’re going for low 100s.  You have insider knowledge of how much it actually costs to produce them?  I strongly suspect their current production costs aren’t much higher.

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February 06, 2018, 10:40:05 PM
 #3897

Guys, maybe someone knows any news or leaks, about new generation scrypt miners? From Bitmain or another product. Thanks for answer


No news.  It is wired that they are doing a fire sale with T9s and everything else they have found in a shad lol

But for script, just remember that they do not have any competition. They got the only and best performing miner on the market. If they build a stronger one, they will use it themselves first, but if they sell the better miner, they just compete with the L3+

That would not make any sense

I would not put it past Bitmain to release a more powerful and efficient Scrypt miner sometime later this year. The L3+ is making +/- $5 per day. Don't think Bitmain will be selling many units with this daily profit.
Why not?  Last bubble time ASICS we’re going for low 100s.  You have insider knowledge of how much it actually costs to produce them?  I strongly suspect their current production costs aren’t much higher.

Why? Bitmain is trying to sell the L3+ for $1536 each and deliver in March. Based on this and the current Litecoin stats, these miners will ROI in about 8 months, which we all know won't happen since the difficulty will keep increasing. It's anybody's guess where the LTC price will go. Buying a L3+ today from Bitmain is pretty much hoping that the price Litecoin will appreciate.

Given that Bitmain still has these available, most buyers realize this.
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February 07, 2018, 12:04:27 AM
 #3898

The “why not?” Was in reference to the fact that since no one knows how much the units actually cost to produce it’s pure conjecture to think that 2k or even 1k is actually some sort of bottom price because they might cost X00 to make and so $5 per day or $150 per month they can easily keep selling a ton of them with ok ROI.  Stop buying preorders.

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February 07, 2018, 12:34:56 AM
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I reckon they cost about 500$ at most each. Includes parts and labour.

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February 07, 2018, 01:38:00 AM
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Guys, maybe someone knows any news or leaks, about new generation scrypt miners? From Bitmain or another product. Thanks for answer


No news.  It is wired that they are doing a fire sale with T9s and everything else they have found in a shad lol

But for script, just remember that they do not have any competition. They got the only and best performing miner on the market. If they build a stronger one, they will use it themselves first, but if they sell the better miner, they just compete with the L3+

That would not make any sense

I would not put it past Bitmain to release a more powerful and efficient Scrypt miner sometime later this year. The L3+ is making +/- $5 per day. Don't think Bitmain will be selling many units with this daily profit.
Why not?  Last bubble time ASICS we’re going for low 100s.  You have insider knowledge of how much it actually costs to produce them?  I strongly suspect their current production costs aren’t much higher.

Why? Bitmain is trying to sell the L3+ for $1536 each and deliver in March. Based on this and the current Litecoin stats, these miners will ROI in about 8 months, which we all know won't happen since the difficulty will keep increasing. It's anybody's guess where the LTC price will go. Buying a L3+ today from Bitmain is pretty much hoping that the price Litecoin will appreciate.

Given that Bitmain still has these available, most buyers realize this.
We see this cycle over and over. Experienced miners don't buy these units at the highs. It's all the new entries to the race because they saw insane daily profits. Also those scumbag resellers. Resellers and ignorant miner wanna be's bought 10's of 1000's of the S9's and L3+'s at insane prices. Before this year, I never paid more than $1500.00 for an S9 direct from Bitmain. Soon you'll see those same miners for sale at fire sale prices. It's a larger version of the D3 debacle but the same metric. I bought a D3 at $650.00 roughly 2 weeks after the last deliveries from Bitmain hit the networks.

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