My Litecoin Boat has come in! Others? Share your story and your bet on how? Poll

[Searing]

edit:

Note: thread here says it was made in May of 2017. I made the thread last week, so be aware, if things look weird!


Share your story on how luck/skill (chuckle .yeah right skill on LTC going from $4.15 to current $30.10) ...er anyway or whatever
finally got you to a point where your boat has come in as they say on your equip/trading or holding of LTC bet

Myself how I got to this point below

Still bemused/befuddled and don't believe any of this yet ..just saying

Well with me it was around April 1st I decided to get bitmain equipment to replace (double hash) on a bet to myself that $6 LTC was as
low as it would go. So needed 3000mh of bitmain stuff to do this.

Thus at $6 LTC it might take me 1.5 years to get out of the hole on this bet.if I was frigging dead wrong...buying equip with btc ..mining ltc to just get same btc..in equip
but that was the bet..(mining a silly addiction) Been there before...saw a hole, decided to jump in and mine my way out again. The usual self-destructive and addicctive
asic miner behavior as in the past

The results are below

Still can't quite get my head around this..when I was expecting this at my bitmain purchases at $4.15 LTC price and a $6 LTC worse case floor.

BUT MY BET WAS $6 was the FLOOR..made a post someplace on here around April 1st on such
..thus got the equipment..(again at the time price was like $4.15 per LTC) Again ROI KNC Titans made

me brave to get out of this (if it was a deep deep hole) included in calculations below ....3,177mh worth.....it allowed me to take this chance)

Jumped in hole

Results below of being dumb and lucky

(of course, difficulty would not be this high...but just saying as WHY I got the eguip and HOW I got lucky as a result) in the calculations in 20/20 hindsight below

Using my www.litecoinpool.org calculator on site. Pool is free and pays out at 102%. Again calculator at www.litecoinpool.org/calc

both calcs below use 6,177mh at 10c kwh and 12,500 watts and using $6 floor price below (the bitmain stuff is prepaid for the  year..this is knc titan roi montlhy electric) total in was

$20,400 usd on this bet ..to double my hash in this manner.

So at my $6 as the low for LTC price I get below . (again price reality at the time was around $4.15 but climbing)


24 hours   16.67790000 LTC   100.07 USD   30.00 USD   70.07 USD
7 days   116.74530000 LTC   700.47 USD   210.00 USD   490.47 USD
30 days   500.33700000 LTC   3002.02 USD   900.00 USD   2102.02 USD


So $2,102.02 a month profit above at my guess of a worst-case $6 floor. (price again was climbing from $4.15 LTC when I made this bet)
the yep...worse case I'd be looking at 12 months plus to mine my way out of this hole with bitmain and legacy equip included. (damn i'm dumb)


vs REALITY as of NOW

Damn tough to get my head around the below



At 6177mh with 12,500 watts (knc titans...Bitmain's are pre-paid all for the year etc) at $30.10 LTC and 10c kwh and 6,177mh combined KNC Titans and Bitmain's I get

24 hours   16.67790000 LTC   502.00 USD   30.00 USD   472.00 USD
7 days   116.74530000 LTC   3514.03 USD   210.00 USD   3304.03 USD
30 days   500.33700000 LTC   15060.14 USD   900.00 USD   14160.14 USD

14,160.14 USD a month now (sheesh)

At 12k overshoot of my worse case fears per month in profit

Looking at my logic at the $6 price April 1st or thereabouts with that being the floor price on LTC I was looking at a 10 month ROI
at FLAT difficulty...so figuring modest ROI ..I figured 12 - 14 months to ROI everything ..including tossing hash of 3177mh towards the debt with roi'd knc titans. Again this was the worst case..ie ..if all went 'pear-shaped' I could mine my way out of the hole in say 1.5 years and call myself stupid/even...again $6 LTC.

I did 'kinda' expect/hope for $8-$10 coin to get ROI below 1 year ..but again what I was thinking. And again the 3,177mh of roi'd knc titans can make you stupid brave if this is added to the equation on your jumping into random ASIC miner holes....w/o that I'd likely not have jumped. That made me brave to jump into this LTC hole, to begin with. That
and my obvious ASIC miner addiction

Boy....I've missed the boat before...never really slam'd into the penthouse on the boat dead on before thou...this is new

Anyway, my past logic, luck, selling my soul, or whatever to put me in the present situation

OTHERS on here...what is your story? I suspect it was a combo of stupid/hope/dumb luck and such like myself but chime in here.

take the poll

dumb luck is always a factor I guess as well as poor luck...not really sure how to handle having the boat come in.....if nothing else the IRS will be happy

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[crypticj]

Thanks for sharing your story searing... Mine is a lot more comical.

I been in crypto world since 2011 -2012 on and off.

4 months ago i sold some old Radeon HD 7870 few of them from old gaming pc for $175 total. I really didn't need the cash so thought I buy an ASIC [my first Asic for Litecoin] Always been a GPU miner. I found some one who was selling A2 Dominator 66Mh/s [few chips were not working] for buy it now for $250 with shipping the only problem was it was unprofitable at 1100 watts power draw and LTC at $4.15.

 luckily one of my friend had free electricity [He fixed his monthly bill unlimited usage] so I decided to pull the trigger worst i would lose $250 and learn something other wise told my friend I would split the revenue with him 50/50. at that point it was making 0.4 LTC per day and i we would earn measely $1.60-$1.75 . Mined it hard for 1 month on litecoin pool and I was so concerned with recuperating my cost that i sold the LTC as soon as they were mined made about $150 not bad.

Long behold LTC spikes to $14 at that same time Bitmain announces L3+ i knew that the difficulty would spike so I sold the A2 Dominator back on ebay for $400 [ the guy who bought it is making $140 a month] go figure.

Didn't make much didn't lose much had lots of fun made few friends and learned a lot.

Oh almost forgot bought 1 L3+ on hashnest for $1895 sold half of hash back on market for 0.29 LTC per Mh/s to get my original $2k back now left with 268 Mh/s left on hashnest just gonna let it run until it stops paying and going to hoard all of the litecoin.

[Viper1]

....

Congrats on your success! I don't know much about LTC mining but from what you're saying, do you basically have about 10 KNC Titans (worth $20k+) and 6 of the new Antminer L3+ (worth $7.2k)?

[Searing]

LOL> not sure why my thread shows it was made in MAY 2017, when I made it like Dec 2nd 2017...but I guess this is why, no one has posted!! lol!

On a side note:


Much churn and confusion in the crypto and BTC world. Stuff moves fast, some of the FUD'ster's may have to eat their words here soon!

https://bitcointalk.org/index.php?topic=2510862.0;topicseen

That is the question, however, is this crypto and BTC, and the mad rush up in price...due to 'quick money" only?

I mean really, price of BTC is approaching 12k and in January 2017, this year the price was $1,000 bucks)


So, is BTC and crypto a 'store of value'? The banker types are grappling with this as we speak. (I will pay for a video if they

come to blows in the boardroom!)

[Searing]

got to pay taxes....hoping for a pump to 300 bucks...not happening.....(if wishes were horses...they'd kick me to death)

otherwise, I HODL what I can after that pound of flesh is taken out by the Taxman.

(and mining with equipment I previous to that point got in mass (due to luck) when LTC went from $4.15 to the present prices...over $240...the Taxman he is gonna

LIKE ME A LOT..hell, they may make mugs and T-shirts in my honor...). FML

(LTC pump damn it! .....kicks couch)