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Author Topic: LTC value vs the diff.factor  (Read 1116 times)
mmitech
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April 24, 2013, 08:51:00 PM
 #1

guys I am really disappointed at the current conditions , Diff.factor keeps increasing all the way, the price doesn't meet the conditions at all, when people keep dumping LTC for any price this means that they do not believe in it, they just mine it because it is more profitable and because they do not have any other "choice" .

as a believer and a miner I am sick of this people, I know it is their choice to do what ever they want, but this effect us all, I just wish if I had money to buy more as mining for me doesn't pay off (0.26$ kw/h)

-LTC price at this point should be at least 10$
-we need more adoption and support
-convince existing businesses who takes BTC to adopt LTC as a small payment system
-make some advertisement   
grow the community and have more faith in it .



                                                                              HOLD TO AT LEAST 10 $ WHO IS WITH ME
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kuusj98
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April 24, 2013, 08:55:13 PM
 #2

Bro, you are totaly right.

I stick to my little baby's till I need the money.
BTCSylar
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April 24, 2013, 09:10:31 PM
 #3

Quote
(0.26$ kw/h)

Ouch... sorry to hear.

I do feel that LTC is somehow pegged to BTC at 0.022, perhaps a little too solidly.  The value should be higher IMO  Roll Eyes.

But then... at this price it is still not unprofitable for me to mine. I pay ~$0.16 (~£0.10)  per kWh. I use 2.7kWh per hour and make 0.57 LTC per hour. At $3 each I am still making ~$1.12/hr. (6 days of this and one of my 6950s pays for itself)

There are people paying less per kWh.

So, for some it is not cheaper to buy instead of mine just yet.
txmasut
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April 24, 2013, 09:13:55 PM
 #4

guys I am really disappointed at the current conditions , Diff.factor keeps increasing all the way, the price doesn't meet the conditions at all, when people keep dumping LTC for any price this means that they do not believe in it, they just mine it because it is more profitable and because they do not have any other "choice" .

as a believer and a miner I am sick of this people, I know it is their choice to do what ever they want, but this effect us all, I just wish if I had money to buy more as mining for me doesn't pay off (0.26$ kw/h)

-LTC price at this point should be at least 10$
-we need more adoption and support
-convince existing businesses who takes BTC to adopt LTC as a small payment system
-make some advertisement   
grow the community and have more faith in it .



                                                                              HOLD TO AT LEAST 10 $ WHO IS WITH ME

The problem are with those who peg it to a arbitrary ltc=btc value. if BTC stays at a lower value of say $50 then LTC will go up in price as it wouldn't be profitable to mine at those lower numbers.  As long as BTC stays high I think the value(relative to btc) will stay the same.

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BTC-1488ZE5vUFxUbxNLdcQoaHQkx1qxYXPgNM LTC-Le9LVJKz5bu2prQicazidFmSDo3ucTSX81 Rep Thread https://bitcointalk.org/index.php?topic=200743.msg2095050#msg2095050
mmitech
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April 24, 2013, 09:23:11 PM
 #5

the thing is that comparing to BTC GPU miners are still making almost the same profit not to mention ASIC owners , LTC mining supposed to be like if you are mining BTC with an ASIC.

living in Europe and paying around 0.26 € kw/h with 5500 kh/s leaves me with max 6 LTCs after paying all expenses, not counting if my rigs break than I am really fucked .

this is just so disappointing
add1ct3dd
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April 24, 2013, 09:28:25 PM
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You are in about the only place in Europe with such rediculous power costs, £0.10 here.
txmasut
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April 24, 2013, 09:31:40 PM
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the thing is that comparing to BTC GPU miners are still making almost the same profit not to mention ASIC owners , LTC mining supposed to be like if you are mining BTC with an ASIC.

living in Europe and paying around 0.26 € kw/h with 5500 kh/s leaves me with max 6 LTCs after paying all expenses, not counting if my rigs break than I am really fucked .

this is just so disappointing

Prices should definitely be higher, however with power costs such as you have, it's going to be hard to be excited unless prices go up significantly. Sad

Possibly look for friends in lower power markets?  I have a server farm in Texas where I host computers for myself and others at $.08.  I'm sure you could find something similar.

Vantacor Mining Store
Amazon.com Mining Store
BTC-1488ZE5vUFxUbxNLdcQoaHQkx1qxYXPgNM LTC-Le9LVJKz5bu2prQicazidFmSDo3ucTSX81 Rep Thread https://bitcointalk.org/index.php?topic=200743.msg2095050#msg2095050
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April 24, 2013, 09:34:28 PM
 #8

If it cheers you up, you also get free heating.  Grin Can't wait till next winter comes....
mmitech
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April 24, 2013, 09:42:51 PM
 #9

the thing is that comparing to BTC GPU miners are still making almost the same profit not to mention ASIC owners , LTC mining supposed to be like if you are mining BTC with an ASIC.

living in Europe and paying around 0.26 € kw/h with 5500 kh/s leaves me with max 6 LTCs after paying all expenses, not counting if my rigs break than I am really fucked .

this is just so disappointing

Prices should definitely be higher, however with power costs such as you have, it's going to be hard to be excited unless prices go up significantly. Sad

Possibly look for friends in lower power markets?  I have a server farm in Texas where I host computers for myself and others at $.08.  I'm sure you could find something similar.

here in Slovenia the way they count the value of KW is really funny , my provider offer 4 kind of packs , the first pack is only 0.15 € kw/h if you are consuming the monthly average  of a regular usage in slovenia which is around 380 KW a month , the second is more than the third is even more, it just happen that with my consumption I fall in the most expensive one, as I use elek. for everything (cocking, heating, cooling...) beside mining. it is the green guys taking off , so they are trying to force people somehow to use less energy, yay green guys found a way (not being against any Eco system just sarcasm)
Joerii
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April 24, 2013, 09:52:01 PM
 #10

Don't complain to much, here in Holland we pay 23 eurocent per KW/h, thats THIRTY USD cent.

Dacm4n
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April 24, 2013, 11:18:41 PM
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It should at least double in price when mtgox adds it.

anderl
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April 24, 2013, 11:48:54 PM
 #12

guys I am really disappointed at the current conditions , Diff.factor keeps increasing all the way, the price doesn't meet the conditions at all, when people keep dumping LTC for any price this means that they do not believe in it, they just mine it because it is more profitable and because they do not have any other "choice" .

as a believer and a miner I am sick of this people, I know it is their choice to do what ever they want, but this effect us all, I just wish if I had money to buy more as mining for me doesn't pay off (0.26$ kw/h)

-LTC price at this point should be at least 10$
-we need more adoption and support
-convince existing businesses who takes BTC to adopt LTC as a small payment system
-make some advertisement   
grow the community and have more faith in it .



                                                                              HOLD TO AT LEAST 10 $ WHO IS WITH ME

Your are way out of the ball park.  Its all about the hashrate/$
This is the amount you will generate per day using identical hardware for the 3 currencies.  This excludes FGPA and ASIC because they are price disruptors and not everyone owns them.

C/d MiningHash(eq)$/d
BTC0.30265400$45.52/d
LTC17.8897200$55.10/d
FC12127200$172.104 - $24.26/d*
* based on a wide range of BTC or LTC/FC conversions

The average miner could generate anyone of $ amounts per day depending on which coin and pool they mine at.  Right now LTC is overpriced relative to BTC.  This is probably due to a flood of new miners because of the cryptocoin publicity and doe to the difficulty spike as the ASICs dominate BTC mining.  If anything it pays more to mine LTC that it does BTC.

FC is still a question mark as it is not really tradeable.  Or it is difficult to trade as the market is illiquid.  Hence why it could be profitable to mine or worthless to mine.
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