[ANN] Litecoin - a lite version of Bitcoin. Launched!

[Searing]

Makes perfect sense to me, we shut down 10 L3+'s about a week ago
I've still got 30 A4+ in the box, never made it to power up, and another 25 D3's got stuck with
And i'm not a person that can afford a low 6 figure mistake, credit eating me alive
* that's my whine story can someone call me a whambulance ........

yeah, back to my (hopefully wrong) theme on the Bitmain L3+ units

currently, I am at NEGATIVE -$0.21 USD per day! and

NEGATIVE -$6.29 USD a month, with my data hall electric and rent.

24 hours   0.02316153 LTC   2.48 USD   2.69 USD   -0.21 USD
7 days   0.16213072 LTC   17.35 USD   18.82 USD   -1.47 USD
30 days   0.69484592 LTC   74.35 USD   80.64 USD   -6.29 USD

So, in order for me to say break even NOW at 0.00 USD a month after electric.

Swapping electric for LTC direct on www.litecoinpool.org/calc I would need:

a price of LTC at the current difficulty of:  $116.05 per LTC!

24 hours   0.02316153 LTC   2.69 USD   2.69 USD   -0.00 USD
7 days   0.16213072 LTC   18.82 USD   18.82 USD   -0.00 USD
30 days   0.69484592 LTC   80.64 USD   80.64 USD   -0.00 USD

That is not looking too dang likely

IF I wanted to get say $1 a day at current difficulty, OVER electric costs,

which in the past was pretty modest for a Bitmain L3+ scrypt-pow miner,

I would need below $159.05 to make $29.88 per Bitmain L3+ per month, after electric...
 
24 hours   0.02316153 LTC   3.68 USD      2.69 USD        1.00 USD
7 days   0.16213072 LTC   25.79 USD     18.82 USD        6.97 USD
30 days   0.69484592 LTC   110.52 USD 80.64 USD         29.88 USD

Again, I just hope I'm wrong, but I don't think I can see things flipping in our favor this

fast, even if there is NO supposed new Bitmain product at the 1.5gh and 800-watt unit...

the above calcs, don't even work with existing Bitmain L3+'s in the world (85% of all pow scrypt miners still

up, IMHO) ...so unless brighter minds than me, can 'beat me up' on this (please, I wish to be dead wrong)

it all still looks like most if not all my (and perhaps most) Bitmain L3+'s will be shut down by July 4th, 2018.

Searing

[1660272194]

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[1660272194]

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[zahidmoon]

Makes perfect sense to me, we shut down 10 L3+'s about a week ago
I've still got 30 A4+ in the box, never made it to power up, and another 25 D3's got stuck with
And i'm not a person that can afford a low 6 figure mistake, credit eating me alive
* that's my whine story can someone call me a whambulance ........

yeah, back to my (hopefully wrong) theme on the Bitmain L3+ units

currently, I am at NEGATIVE -$0.21 USD per day! and

NEGATIVE -$6.29 USD a month, with my data hall electric and rent.

24 hours   0.02316153 LTC   2.48 USD   2.69 USD   -0.21 USD
7 days   0.16213072 LTC   17.35 USD   18.82 USD   -1.47 USD
30 days   0.69484592 LTC   74.35 USD   80.64 USD   -6.29 USD

So, in order for me to say break even NOW at 0.00 USD a month after electric.

Swapping electric for LTC direct on www.litecoinpool.org/calc I would need:

a price of LTC at the current difficulty of:  $116.05 per LTC!

24 hours   0.02316153 LTC   2.69 USD   2.69 USD   -0.00 USD
7 days   0.16213072 LTC   18.82 USD   18.82 USD   -0.00 USD
30 days   0.69484592 LTC   80.64 USD   80.64 USD   -0.00 USD

That is not looking too dang likely

IF I wanted to get say $1 a day at current difficulty, OVER electric costs,

which in the past was pretty modest for a Bitmain L3+ scrypt-pow miner,

I would need below $159.05 to make $29.88 per Bitmain L3+ per month, after electric...
 
24 hours   0.02316153 LTC   3.68 USD      2.69 USD        1.00 USD
7 days   0.16213072 LTC   25.79 USD     18.82 USD        6.97 USD
30 days   0.69484592 LTC   110.52 USD 80.64 USD         29.88 USD

Again, I just hope I'm wrong, but I don't think I can see things flipping in our favor this

fast, even if there is NO supposed new Bitmain product at the 1.5gh and 800-watt unit...

the above calcs, don't even work with existing Bitmain L3+'s in the world (85% of all pow scrypt miners still

up, IMHO) ...so unless brighter minds than me, can 'beat me up' on this (please, I wish to be dead wrong)

it all still looks like most if not all my (and perhaps most) Bitmain L3+'s will be shut down by July 4th, 2018.

Searing

i think you are going into negitive because lite coin price is down
and if you continuously mine lite coin at current mining speed but not sell then now and wait for the bullish move starts
then you could get good profit from it
my best guess if you want real profit then you should hold your earning from miners atleast one year
maybe in Dec 2018 litecoin price will rise higher

[rgsnedds]

you are probably right. you have two options really (well, three)

1. power down and wait for prices to rise
2. keep mining on speculation
(3). it's cheaper to just buy the coin.

[Searing]

Makes perfect sense to me, we shut down 10 L3+'s about a week ago
I've still got 30 A4+ in the box, never made it to power up, and another 25 D3's got stuck with
And i'm not a person that can afford a low 6 figure mistake, credit eating me alive
* that's my whine story can someone call me a whambulance ........

yeah, back to my (hopefully wrong) theme on the Bitmain L3+ units

currently, I am at NEGATIVE -$0.21 USD per day! and

NEGATIVE -$6.29 USD a month, with my data hall electric and rent.

24 hours   0.02316153 LTC   2.48 USD   2.69 USD   -0.21 USD
7 days   0.16213072 LTC   17.35 USD   18.82 USD   -1.47 USD
30 days   0.69484592 LTC   74.35 USD   80.64 USD   -6.29 USD

So, in order for me to say break even NOW at 0.00 USD a month after electric.

Swapping electric for LTC direct on www.litecoinpool.org/calc I would need:

a price of LTC at the current difficulty of:  $116.05 per LTC!

24 hours   0.02316153 LTC   2.69 USD   2.69 USD   -0.00 USD
7 days   0.16213072 LTC   18.82 USD   18.82 USD   -0.00 USD
30 days   0.69484592 LTC   80.64 USD   80.64 USD   -0.00 USD

That is not looking too dang likely

IF I wanted to get say $1 a day at current difficulty, OVER electric costs,

which in the past was pretty modest for a Bitmain L3+ scrypt-pow miner,

I would need below $159.05 to make $29.88 per Bitmain L3+ per month, after electric...
 
24 hours   0.02316153 LTC   3.68 USD      2.69 USD        1.00 USD
7 days   0.16213072 LTC   25.79 USD     18.82 USD        6.97 USD
30 days   0.69484592 LTC   110.52 USD 80.64 USD         29.88 USD

Again, I just hope I'm wrong, but I don't think I can see things flipping in our favor this

fast, even if there is NO supposed new Bitmain product at the 1.5gh and 800-watt unit...

the above calcs, don't even work with existing Bitmain L3+'s in the world (85% of all pow scrypt miners still

up, IMHO) ...so unless brighter minds than me, can 'beat me up' on this (please, I wish to be dead wrong)

it all still looks like most if not all my (and perhaps most) Bitmain L3+'s will be shut down by July 4th, 2018.

Searing

i think you are going into negitive because lite coin price is down
and if you continuously mine lite coin at current mining speed but not sell then now and wait for the bullish move starts
then you could get good profit from it
my best guess if you want real profit then you should hold your earning from miners atleast one year
maybe in Dec 2018 litecoin price will rise higher

no...price is some of this...but mostly it is difficulty outpacing price...thus you can never catch up....that is normal all miners

die and pan out

as far as I can tell this MAY be the first time that the current most recent generation of miners the L3+ or about (imho) 85%
of pow-scrypt miners in the world ALL are shut off due to price. Now as I say this, the ONLY one if these prices that continue

could mine pow-scrypt would be bitmain..not because of electric rates....which I assume are matched by some if not most...the

key here is bitmain probably only pays 20c on the $1 for its previous equipment and the electric...thus IF THEY HAVE NEW

equipment coming ...well they own pow-scrypt for the summer at least (till they release pre-orders in the fall after their data

halls are filled) but again in this case....the last generation of miners are killed off by the price of a coin BEFORE even the

3-4 month supposed new equipment hits the world? I mean really? Not gonna have a lot of faith in such a coin...remember

you will need near $200 LTC to overcome difficulty IMHO, to fight the glut of machines and/or the threat of them falling off

the pow-srypt wagon with difficulty...vs price....if it does get that bad and only Bitmain can mine pow scrypt for the summer

or longer...i just don't see a lot of faith in any pow-scrypt coins and LTC if it is just gonna be like BCH and bitmain is making bank

again, price rises usually are due to belief in a coin's future...but at 85% of the equip made in pow-scrypt it is all linked to

the bitmain monopoly....with the difficulty rise intertwined with the price dump of pow-scrypt coin prices and LTC ..again looks

dim in my view. (better minds than mine...chime in here) but how I see it so far...

[zhouyc]

Litecoin is one of the old coins in the encrypted money market. I firmly believe that this project can be developed for a long time. This round of falling LTC coins is one of the targets of observation.

[Searing]

Litecoin is one of the old coins in the encrypted money market. I firmly believe that this project can be developed for a long time. This round of falling LTC coins is one of the targets of observation.

the main problem with litecoin is that they are competing for the same space as bitcoin cash....and people seem to like a fork of bitcoin like bitcoin cash better

(go figure)

anyway, that is a big part IMHO of why the price of LTC has not gone over $200 usd

I just can't see the LTC price coming back over say $160 in the next 2 weeks to over come difficulty...

indeed if as I suspect new equipment by bitmain is coming out in July 2018....all current equipment in the world pow-scrypt including LTC will be really, really, hurt

so everyone shuts their stuff off due to difficulty and electric BUT Bitmain for the Summer

hell, I myself would walk to POS coins and sell out my LTC if that happened....would be all over but the singing of woe...

anyway, chump or champ we will be the first to know

[frerejaak]

Litecoin is one of the old coins in the encrypted money market. I firmly believe that this project can be developed for a long time. This round of falling LTC coins is one of the targets of observation.

the main problem with litecoin is that they are competing for the same space as bitcoin cash....and people seem to like a fork of bitcoin like bitcoin cash better

(go figure)

anyway, that is a big part IMHO of why the price of LTC has not gone over $200 usd

I just can't see the LTC price coming back over say $160 in the next 2 weeks to over come difficulty...

indeed if as I suspect new equipment by bitmain is coming out in July 2018....all current equipment in the world pow-scrypt including LTC will be really, really, hurt

so everyone shuts their stuff off due to difficulty and electric BUT Bitmain for the Summer

hell, I myself would walk to POS coins and sell out my LTC if that happened....would be all over but the singing of woe...

anyway, chump or champ we will be the first to know

I dont think there needs to be just 1 type of currency, I mean there hundreds of federal currencies all with just one basic use case which is to pay for stuff. Bcash and LTC can both live side by side IMO

[zahidmoon]

Litecoin is one of the old coins in the encrypted money market. I firmly believe that this project can be developed for a long time. This round of falling LTC coins is one of the targets of observation.

the main problem with litecoin is that they are competing for the same space as bitcoin cash....and people seem to like a fork of bitcoin like bitcoin cash better

(go figure)

anyway, that is a big part IMHO of why the price of LTC has not gone over $200 usd

I just can't see the LTC price coming back over say $160 in the next 2 weeks to over come difficulty...

indeed if as I suspect new equipment by bitmain is coming out in July 2018....all current equipment in the world pow-scrypt including LTC will be really, really, hurt

so everyone shuts their stuff off due to difficulty and electric BUT Bitmain for the Summer

hell, I myself would walk to POS coins and sell out my LTC if that happened....would be all over but the singing of woe...

anyway, chump or champ we will be the first to know

peoples are liking the Bcash but how a fork coin will be better then orignal.
people just want bitcoin cheap so they figure bcash is better then bitcoin but its not true. butcoin is bitcoin its base digital curreny and no other digital currency can beat it.
and i agree with you if new Equipment comes then older one will have no such value then current value
also they will be expensive obviously and gets more mining speed. less hardware with huge mining speed makes older hardware useless
will see what bitmain do in July 2018

[StelsMiner]

Old market, waiting for you at a price of $ 500

Wow, you're swinging too high, I think. What news will serve such a great growth? I guess it's just your guess, if you had arguments, then it would be a strong forecast. Although, I also expect and believe that very soon the market will start to grow very well.

[BayAreaCoins]

I'm still purchasing empty qualifying Litecoin addresses for $8.60 each address (paid in Bitcoin):  https://bitcointalk.org/index.php?topic=1177746.msg12397182#msg12397182

[mercedes321]

fuuny, and i get back to cloud mining after a decent break, bcs machines are so cheap, and electriciy is 0.07 usd,...the difficulty might go down as well, and the LTC up,... bcs many are shutting down, so i alreadz see more mined blocked at bitman for the L3, ...i had the feeling it had to crash the criopto for this to happen...same at OIL, it crashed to 36 usd or something before thez start to make some cut productions the sauides and the russian,.

[jk milon]

Litecoin (LTC)  very interesting project

[zahidmoon]

Litecoin (LTC)  very interesting project

yes it was get more intrest after gains huge value in the market
right now litecoin price is under 100$ and its ATH price was more then 320$
i thought the lite coin bottom price will be 118$ but i was wrong
according to the market condition litecoin still have good price by my point of view

[BtcMan2009]

I think there are a lot of real crypto-lovers in the LTC community. So I think many people will probably be interested to visit a couple of important places where the summit will take place.
Here's the first one Charlie Lee said:
I'm going to be speaking at the Asia Blockchain Summit in Taipei on 7/2-7/3.
For a 25% discount in ticket prices, use the code below. https://abasummit.co/get-ticket/
See you there!

[Convery]

Guys, I have heard that Litepal and Litepay will be introduced few months ago, is there any news about that services? I think that there was any problem right?

[BtcMan2009]

And the second, also very interesting summit, which will be held in South San Francisco Conference Center
On this occasion there is also an announcement:
Tickets for the Litecoin Summit conference in San Francisco on September 14 & 15th are now available on https://litecoinsummit.org/

[Searing]

FYI,

still losing 35c  a day on a 500mh 800 watt L3+ scrypt pow miner with LTC. This is 'supposedly' in mass 90% probably of all ASIC's for scrypt-pow and LTC

being used for the network. At my present figures I need $115 LTC to break even and about $135 LTC to get over a buck a day. Thus at 8000mh and $1,290.27

usd a month..mot real keen even at $160 LTC just to pay that to make about 47 bucks a month over

not looking to good when all this stuff gets shut off at the same time....and bitmain takes over the network

anyway comments, better minds then myself?

brad

[azerty21]

Two Reasons Why Litecoin Could Breakout Soon :
Around Christmas time, investors in the majority of cryptocurrencies thought they were being spoiled and would soon be able to splash out on extravagant gifts as the value of the currencies shot up to amazing highs – but over the past few months, we have seen the market correcting itself back down to typical levels.

This month, Litecoin hit new 2018 lows in its value, nosediving to $93 which is the lowest level seen since 8th December 2017. This is a 48% drop from the high we saw in May, when the currency reached $182. Some may say that this has turned the tide in favour of Litecoin’s competitors, but oversold conditions could see the price of this cryptocurrency shoot right back up.

The RSI (Relative Strength Index) is showing Litecoin as being in oversold territory and, only days ago, it was below 30.00 for the first time in over two months. This gives a good idea of when the market for the coin is going to be shooting up, as when the currency is oversold, you typically see an uptrend in the market for the cryptocurrency.

Secondly, the NYDFS has given the green light for ITBIT to list Litecoin on its exchange – a move which will give a regulated exchange market to Litecoin, thus making it a safer buy than it previously was. Further to the coin being safer to trade in this new regulated market, it will also be opened up to new investors who will want to jump on the Litecoin bandwagon.

While many people are selling their Litecoin at a loss due to the nosedive in its value, holding on could be worthwhile, as it’s expected that the value of the currency will pick up fast due to the two reasons given above. Time will tell whether or not Litecoin becomes the next big thing.

[mercedes321]

FYI,

still losing 35c  a day on a 500mh 800 watt L3+ scrypt pow miner with LTC. This is 'supposedly' in mass 90% probably of all ASIC's for scrypt-pow and LTC

being used for the network. At my present figures I need $115 LTC to break even and about $135 LTC to get over a buck a day. Thus at 8000mh and $1,290.27

usd a month..mot real keen even at $160 LTC just to pay that to make about 47 bucks a month over

not looking to good when all this stuff gets shut off at the same time....and bitmain takes over the network

anyway comments, better minds then myself?

brad

acvtually i think ont will do more, so turning ltc into ont, not a bad idea, and also why not turn off machines, and buy some at hashnest, electricity is much much cheaper i guess if u mine with a loss, i am waiting one more leg up in cripto, then ill give 15 or 20% in to L3 machines I will buz 4/5 machines, they cost read this 6.4LTC 1 machine ( back in past i paied 104 LTC for 1), and it gives u 1.5usd per day or 7% per month. But ont or eth will do more in shorter period of time even if LTC goes up, wont go up as much, so i wait one more leg up, then i go into mining, but not as i use to in the past, all in. no no, u never know, evrything is risky these days.

[mt55]

you are probably right. you have two options really (well, three)

1. power down and wait for prices to rise
2. keep mining on speculation
(3). it's cheaper to just buy the coin.

Mining on speculation is really dumb if you do have the opportunity to purchase the coin cheaper elsewhere. You are better off switching to a more profitable coin, sell that coin and buy Litecoin.