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Author Topic: Launching the Antminer L3+, World's Most Powerful and Efficient Litecoin Miner  (Read 284096 times)
bwilliams2001
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April 10, 2018, 04:45:50 PM
 #4061

Has anyone has anyone ever tried to pair one with an Antrouter R1-LTC to in effect create a "wireless" Antminer L3+?
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April 10, 2018, 05:39:25 PM
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 #4062

Has anyone has anyone ever tried to pair one with an Antrouter R1-LTC to in effect create a "wireless" Antminer L3+?

Thats a waste of money...all bitmain controllers are just beaglebones...these have USB outputs. Connect a wifi dongle and configure the linux system for wifi and boom, you got a wireless miner.

Project Apollo: A Pod Miner Designed for the Home https://bitcointalk.org/index.php?topic=4974036
FutureBit Moonlander 2 USB Scrypt Stick Miner: https://bitcointalk.org/index.php?topic=2125643.0
LTC:LX5vpxrQE4eLRLPobKwZhw2comkKFCh3p4 - BTC:14w9Lea6kdVzspJk8TQRe7qSYu9LhzJJsh
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April 10, 2018, 06:14:08 PM
 #4063

is it time to turn off the L3+ or is their hope?
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April 10, 2018, 08:20:47 PM
 #4064

I still have some $200 ones, but the $350 ones are locked up. 


go chat with them, there is live chat support now, ask get the coupon back
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April 10, 2018, 08:26:21 PM
 #4065

The max coupon for the L3+ is a $200 one anyway.

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April 10, 2018, 08:55:50 PM
 #4066

I got one 200USD coupon and grabbed one L3+.

462 - 200 = 262USD. It is unbelievable how cheap it is.

It is interesting to see if Innosilicon (A4+ LTCMaster miner) and BW.com (BW-L21 miner) can compete with the L3+ pricing.

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April 10, 2018, 09:16:54 PM
 #4067

I picked up a few just to play with.  There are many other shitcoins other than LTC.  At 4 for the price of 1 last fall what the hell.

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 Smiley 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 Sad

(crypto always drama) Sad


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April 10, 2018, 10:13:56 PM
 #4068

You can use coupons on this.  Hell if I had some $420 coupons I would pick up a couple.  LOL


Yes,,, they are allowing me to use $100, $200 & $220 coupons,  but not the $450 coupons   Cheesy.   That would have been nice.... a miner for $12.

Funny thing is, I am hesitating because I calculate that you may have 2-3 months of revenue before new tech is out in which case you still may not ROI.

I have never seen a hardware investment devalue so quickly.
 

Tell me about it.
I bought 2 pieces at 1.5k each on dec, delivered in march. Man, with coupons and psu, i can buy say 8 now? Haha

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')


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April 11, 2018, 04:01:59 AM
 #4069

You can use coupons on this.  Hell if I had some $420 coupons I would pick up a couple.  LOL


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April 11, 2018, 06:26:18 AM
 #4070

I have a ton of coupons left and I'm not sure what to do with them..debating about using them at these current prices that are a steal but IDK with the current state of the market lol. If anyone is interested in any coupons HMU. I have $200, $100, $125, and some $50

Halo Platform is one of the fastest Blockchains I've seen yet. They have FREE transactions. 250 Millisecond Block speeds. Smart contracts, Masternodes, blockchain games, and their own high speed DEX with BTC/ETH/USDC pairs. Similar to ETH, Waves, EOS, and more yet with only $1 million mcap. This video showcases the speed and reliability of the blockchain using the DEX, Masternodes (that will soon payout in BTC and ETH), blockchain games, and more! https://www.youtube.com/watch?v=g74d3ixX7E8&feature=youtu.be
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April 11, 2018, 07:27:29 AM
 #4071

Any idea how much overclock should L3+ survive?
Are there any custom firmwares for undervolting etc?
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April 11, 2018, 07:28:16 AM
Last edit: April 11, 2018, 07:46:43 AM by Searing
 #4072

I bought some too against my better judgement. My outlook is bleak but after coupons i paid $650.00 per L3+ including shipping. That's one rock solid little unit so at that price, it's worth a try. Definitely saving most bullets for next tech. Keep in mind the massive outlier of Lightning Network. If that effort takes hold, this stuff will blow the roof off. There is better than a 50/50 Chance that can happen in 2018. It's always darkest before the dawn.

Yep, that is my bet also..grumpy though it makes me....I"ve too much dubious LISK ..that would be very sucseptable to a price dump of BTC and all crypto....thus

my hedge below...I don't like it...but again at my risk of needing to make $250 a unit to break even AFTER electric...I too figure it is maybe a bit more than 50/50 odds in my case.

(again see below posting) ...but we are all essentially betting (even if just like me in a small part) on Unicorn dreams/ fariydust/ rainbows/ and nubile women.....odds are long...

most likely senario is price goes sideways...and all this equipment I get will just be a 'wash' oranges for oranges ..when the mining pukes...but hey, you know what they say:



dump or pump...chump or champ...we will see!

brad

Wow, super bargain price. Any rumor on next generation of scrypt miner from Bitmain ?

Also have similar concerns...L3+ price keep dumping. Or maybe it just because of competition agains Innosilicon A4, A6 miners.

L3+ is only 28nm and Inno A4 is on 14/16nm. The A4 is only 20% more efficient. The S9 (14/16nm) is 3 times more efficient than the S7 (28nm). Hence, if an L4+ appears, it could be 3 times more efficient. That being said, I dont think an L4+ will appear anytime soon as there is no real need for it. Bitmain can win on pricing by far I believe, especially since they are producing a 28nm against a competitor 14/16nm.

Just my 2 cents
Bitmain is sending a definite signal that they are clearing their inventory in preparation for release of new technology. The legacy units are now only useful to those with huge scale and minimum electricity costs. To say the l3+ will be "useless" is just plain stupid. Although it will be, to all the stunned morons that piled into mining in the last 4 months at record ASIC and Crypto highs. Time to cull the herd.

I got some...(or trying to thru a buddy) L3+'s but with coupons and my tax rate and the equip deduction my REAL risk is only $250 a unit...also paying in LISK which I have a mess of

and if the price does tank in crypto...like all alts that will tank more...so whatever ...this hedge on equip or hedge on holding alts/btc...IF price stays sideways ..whatever 'mixture'

I choose (with above coupons/equip deductions/ etc) it is likely a wash...again if price goes sideways.....IF price dumps for BTC and worse for alts...then we are all screwed and

all this won't matter anyway...whatever the above mixture of equip vs alts thing I'm doing...of course if price eventually rises and you can HODL some crypto...well hell..that's

the bet on this sideways drama of price and likely only doing oranges (equip) for oranges (weak crypto) etc

A NORMAL guy without the above ...will ONLY have coupons (maybe) and the 25% equipment deduction their risk could be as high as 75% in real money (unlike me with my tax rate)

so be aware of the difference I'm at with all this and where you may be on all this angle wise...just the way it is...also remember this 50% to tax man with state is off my

CURRENT mining income...I stop mining and this goes away...so for right now my hedge on this equip risk is pretty damn low...assuming mining of any kind hangs together...

Anyway, if crypto mining is DONE ...then I got equipment for deductions ONE STEP TOO FAR...which is pretty much how I always expected it to end.....IF price of crypto goes

sideways for say months..MAYBE I can pretend it is 2015 and just be grumpy and HODL a lot of crypto/LTC or whatever....and of course if price dumps and difficulty cranks up

even more....well all this won't matter anyway.....and I'll wrap the works up ..mining wise by July 2018 at best anyway...

anyway, as a HEDGE, with the altcoins I'm gonna use vs the rest of the risk out there..it is kinda a wash in my case...even less risk if you are in my boat and have the $450

coupons...so I expect a lot of big whales with the $450 coupons to come out and play in bitmain land (or likely boobytrap land)

Also, I expect this stuff to all sell out quick and probably we are not gonna see any ASIC's anymore ...till as some say new equip by bitmain or the summer sometime at best...

my frigging 'guess' and risk/ratio!

you roll the dice, you take the risk!

brad

Better buy LTC at $110 and wait for the summer pump at $300-$400 better bet and not so much risk
No the risk is....it goes to $50.00. It also doesn't provide any daily income or ability to enhance yield through
Hedging and Swaps. Your idea is called speculation. Ours is a business. Yours is a linear approach. Ours is multi faceted. You only have one way to make money. I have 6-10.


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.

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April 11, 2018, 08:22:03 AM
 #4073

The max coupon for the L3+ is a $200 one anyway.

Depends when you are talking about, I paid 2000.00 for batch 1 early this year and had some 500.00 coupons that I was able to use for more L3+, but I also have some 350.00 coupons that when the miners were 800something, I was still able to apply but never ordered, I would like to use them now to get some cheap miners to offset the cost of the gouge I paid at 2K, I just opened a ticket and told them just that...I guess they aren't a billion dollar company for nothing...I want to see what they say...
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April 11, 2018, 12:51:50 PM
 #4074

The max coupon for the L3+ is a $200 one anyway.

Depends when you are talking about, I paid 2000.00 for batch 1 early this year and had some 500.00 coupons that I was able to use for more L3+, but I also have some 350.00 coupons that when the miners were 800something, I was still able to apply but never ordered, I would like to use them now to get some cheap miners to offset the cost of the gouge I paid at 2K, I just opened a ticket and told them just that...I guess they aren't a billion dollar company for nothing...I want to see what they say...
Good luck. They're not usually very accommodating. Or....you could just wait a month when the prices will be cut again.

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

 Excellent FAQ for Lightning Network https://medium.com/@AudunGulbrands1/lightning-faq-67bd2b957d70
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April 11, 2018, 06:14:51 PM
 #4075

I mean they are a steal at the current price but ONLY if the market turns back around.. I guess it honestly isn't a question of if, but when. With the massive amount of growth that we saw at the end of last year I still think we can have a quick turn around possibly. If that happens then mining hardware will be back in demand thus raising prices.

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April 11, 2018, 06:36:13 PM
Merited by suchmoon (1)
 #4076

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... Sad






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April 12, 2018, 04:48:25 AM
 #4077

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... Sad







This is very tempting to do... of course this is heavily reliant on the future of Litecoin but it does look pretty good if this market will turn around..I've been looking for ways to get rid of my $200 coupons and it looks like I've found a decent way. Shoot this wouldn't be a bad way to get rid of all of my smaller coupons, buy miners and then just sell them for market price on eBay.

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Searing
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April 12, 2018, 06:36:56 AM
 #4078

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... Sad


This is very tempting to do... of course this is heavily reliant on the future of Litecoin but it does look pretty good if this market will turn around..I've been looking for ways to get rid of my $200 coupons and it looks like I've found a decent way. Shoot this wouldn't be a bad way to get rid of all of my smaller coupons, buy miners and then just sell them for market price on eBay.

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 Smiley

brad

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!:)
Goool
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April 12, 2018, 07:10:50 AM
 #4079

Sell your L3+ toasters now that you can get something ....  Kiss

New Scrypt miners at 15TH are already plugged in.

Wake up !!
Marvell2
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April 12, 2018, 07:40:46 AM
 #4080

Sell your L3+ toasters now that you can get something ....  Kiss

New Scrypt miners at 15TH are already plugged in.

Wake up !!

sounds fuddy u got proof?
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