Sorry, but with the 'supposed' best scrypt-pow miner and fastest at 500mh and 800watts....Bitmain unit...well, getting $1.39 a day at the
low AFTER electric...this is at a $180 LTC price....anyway $1.39 LTC, was NOT an enjoyable experience...
We are in better shape, not out of the woods yet, but as of this moment I get below at $2.39 per day vs my low of $1.39 a day!
24 hours 0.02821928 LTC 5.08 USD 2.69 USD 2.39 USD
7 days 0.19753499 LTC 35.56 USD 18.82 USD 16.74 USD
30 days 0.84657854 LTC 152.38 USD 80.64 USD 71.74 USD
STILL, need at least 200 USD for LTC IMHO, just to keep everything above the difficulty rise...lots of new equipment...
I figure we need to STAY above $200 bucks for LTC, JUST to stay above $2 coin...with the further difficulty rises in the short term
but yeah, was panic'ing like a 12-year-old child at $1.39 for an L3+ or 69c a day for an L3!
ugly, ugly, indeed
the NIGHTMARE scenario is that difficulty outstrips the ability of an L3+ to keep running. Not talking, buying just running! This could
well be in doubt, IF Bitmain tosses out new equip (rumor) at 1.5gh and 400 watts and mines it all summer, as is how they usually do stuff,
before eventual 'consumers' get the units in the fall of 2018. Thus the nightmare scenario is EVERYONE is 'just out of reach' in mining LTC, or
indeed likely any scrypt-pow coin...and ALL scrypt-pow shifts to Bitmain Data Halls and the need at that *unlikely if scary* point of time
where the choice is to STOP MINING everything but the new consumer product of above (pre-order per usual) in the Fall of 2018...
The old, we missed it by 'this much' ...would be an ugly choice, if the only thing worth mining is to say a new Bitmain unit in the fall at 1.5gh
and 400 watts, while watching Bitmain drive difficulty (and all other scrypt-pow Bitmain units) into the dirt as NON-viable. So your choice
would get out of scrypt-pow mining, even at a 'hobby' one unit level OR buy from Bitmain with a pre-order for a better (only) say 1.5gh
400-watt NEW miner ...ie start over...
not attractive, not likely, but very, very ugly choice wise
less likely now at $2.39 LTC....looking kinda likely at $1.39 LTC a couple weeks ago or so...
(shudder, scared self)
This is the trouble WITH A MONOPOLY, as Bitmain has, they could mess up, and actually be the ONLY ones that could run scrypt-pow at a profit
all summer, don't think that is what they want, but monopolies tend to 'eat their own young' and 'sometimes self-destruct with greed' so they
could mess up and ONLY have themselves to blame...again now they are being cute and consumers are paying for R&D for new stuff etc, they
could find themselves as their ONLY customer, which likely they don't want...so ugly for us and them and all...If the price of LTC, does not keep pace at
least somewhat with difficulty (or as I like to say Bitmain's toaster out the door policy...of 'consume mass quantities business model!
So yeah, the current way Bitmain plays it ...we buy e provide income for R&D etc, on our 'pre-orders' they can hedge their bets on new ASIC's
if that was to break down....where ONLY they could mine the stuff or get the new miners with any certainty of profit...the whole 'neato' Bitmain
profit model would not stop, but slow down quite a bit, IMHO
Anyway, what to I know, at one time I drank the BFL kool-aid....but a world where L3+'s can't make it anymore....and another round of new
miners for scrypt-pow is the only option, well, I saw that when BTC mining went pretty far afield from 'home mining' in 2013.....
Again, unlikely but was a real scenario at the current difficulty and $1.39 LTC per L3+ per day, after electric, a couple weeks ago!
(again, I know zip, but if you see enough 'train wrecks' you, think you know what you are talking about and get, more than a bit skittish)
