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Author Topic: Review/Journal/ROI Calc of Litecoin GEAR (LTCGear) | LTC/DRK/VTC mining farm  (Read 69993 times)
Ignition75
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December 07, 2014, 11:55:38 AM
 #921

Paid, but what's up with the new ASICs? 10 shares only running 12Mh until Jan?  

Edit: I bought two already but still 'on hold' status. I wonder which column they will show up in.

It's interesting (and confusing), isn't it? For those that haven't read the announcement:
http://ltcgear.com/time-to-act-the-second-generation/

First, I find this line hilarious:
"Despite my love to keep things private as long as possible"

Which tells me that IF everything is legit w/ Chris, he's probably enjoying all the speculation about legit or not...

But in terms of the 2nd Gen stuff, it seems like it's a new type of share that mimics what the old packs (like Tricoin pack) did... Right now it looks to give access to:

- Feathercoin (FTC)
- Litecoin (LTC)
- Vertcoin (VTC)
- Darkcoin (DRK)

You can either get paid out in one of those coins or get paid in BTC or LTC, which will pay out an exchange rate equal to the best coin of the group for the week.

Also noted is "Other algorithms will be listed as soon as they are available." Though i'm not sure if there are any other viable coins right now... maybe Ethereum next near would be a contender with the hype behind it, though I know they've been talking POS too on some level, but haven't really been following that anymore.
Or of course, maybe we mine GAWcoin!  Grin

It's nice that you can pre-order these now and get paid something, but I don't know yet if i'm going to order any beyond 1 batch just so i can see how it shows up in your account page to add to the calculator...

My first month of purchases were almost exclusively the DualMOD packs or DualMODs + the original anniversary packs... and they really do outperform base qASICs by a wide margin over time.. so I don't doubt they're going to be the best thing to own next year, but I think we've learned that as customers we tend to want to BUY BUY BUY in the fear that we'll be left out only to find a better thing next week.

So my own strategy right now will be to buy a few, but probably will wait until they are working to do any substantial purchases.


We pretty much followed the same path, I only really focused on Dual Mods, then after they performed so well I purchased some qShares when the sales started.

I tend to pretty much agree with most of your thoughts, what I find particularly warming is the promise from Chris that Dual Mods will remain profitable, even if a multiplier is required.  This makes me very happy.

My observations of the v2 farm?  Out of the box ROI is 4 months isn't it?  I think they've been dumbed down a bit, ROI on the qShares and Dual Mods were almost too good, so Chris decided to lessen the grunt a little.  He can afford to do this and still offer great returns to customers.

What I like about the v2 shares is the ability to pick BTC and the most profitable coin will be mined that week, this is a very nice feature...

I'm going to hold off as well, for now.  I personally think v1 customers are rewarded for being early adopters and they are the better product to have, especially dual mods.

The new generation have arrived and they brought their own currency...
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organizer
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December 07, 2014, 10:13:31 PM
 #922

Well, there seems to be some confusion (shocking!) on what the payouts for the pre-order thing are going to be... I think most everyone thought it was 40%... which didn't make much sense based on historical prices/hash... now there's this thread where at least someone reads it as a 1:2.5 ratio:

https://litecointalk.org/index.php?topic=23640.msg226605#msg226605

Which would be more in-line with what we have now and make it more attractive as a purchase... we'll just have to wait to see next payday!

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December 08, 2014, 12:12:25 AM
 #923

Did anybody choose Convert to Mods for payout? Or has anyone read how that turned out this week?
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December 08, 2014, 12:25:23 AM
 #924

Did anybody choose Convert to Mods for payout? Or has anyone read how that turned out this week?

Do you have to have any previous mods bought for this to work?
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December 08, 2014, 01:29:39 AM
 #925

Did anybody choose Convert to Mods for payout? Or has anyone read how that turned out this week?

Do you have to have any previous mods bought for this to work?

I'm not sure about that either.  I have MODs but didn't choose the convert this week and haven't heard of anyone who did.

I don't believe you need to have existing MODs though.
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December 08, 2014, 02:09:44 AM
 #926

Did anybody choose Convert to Mods for payout? Or has anyone read how that turned out this week?

Do you have to have any previous mods bought for this to work?

I'm not sure about that either.  I have MODs but didn't choose the convert this week and haven't heard of anyone who did.

I don't believe you need to have existing MODs though.

This is the first time I have heard of the Dual Mod conversions. The current price is too high at $1200. I don't see how this is a good idea unless the price drops back to under $900.

Edit: The 2nd gen 10 packs appear to be roughly half the hashing power of Dual Mod 10. So, closer to $600 is a good price point to buy MODs from my perspective.
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December 08, 2014, 06:20:55 AM
 #927

Well, there seems to be some confusion (shocking!) on what the payouts for the pre-order thing are going to be... I think most everyone thought it was 40%... which didn't make much sense based on historical prices/hash... now there's this thread where at least someone reads it as a 1:2.5 ratio:

https://litecointalk.org/index.php?topic=23640.msg226605#msg226605

Which would be more in-line with what we have now and make it more attractive as a purchase... we'll just have to wait to see next payday!



Sorry but I know that guy. He's abnormal. It's just people wasting time discussing unrelevant matters, IMHO. Forget about him.
hendracaw
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December 08, 2014, 08:59:47 AM
 #928

if i want ti invest in ltcgear, what type mining share should i buy?Huh?
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December 08, 2014, 01:08:00 PM
 #929

if i want ti invest in ltcgear, what type mining share should i buy?Huh?

1. Standard qASICs shares, if you're lucky.
2. If you want to invest in the future, then try the gen2 product.

For the 1. option you could try to buy directly at the site, or from reseller or share shop if you want safe.
For the 2. option, simply buy from the official site.

Regards,

organizer
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December 08, 2014, 02:35:11 PM
 #930

if i want ti invest in ltcgear, what type mining share should i buy?Huh?

I think as a general rule of thumb (at least right now with VTC diff spike), LTC (qASIC) shares are fairly predictable in terms of ROI, but you really need to do some research to see that they also degrade over time (for example, qASIC/LTC earnings are down about 30% or so from a couple months ago. This includes the share multiplication that you get on qASICs.

The DualMODs have held value much better overall and haven't suffered (except VTC this past week, lol) over time as much... so the new products (when launched) will mine multiple coins and either payout in your coin of choice or give you BTC from the best performing one.... which should stabilize them like the DualMODs are/were.


Otherwise, do you research and make the choice that's best for you.
Ignition75
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December 08, 2014, 02:50:37 PM
 #931

You can get paid out in mods?

How did I miss that?

Nice...

The new generation have arrived and they brought their own currency...
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December 08, 2014, 03:45:13 PM
 #932

You can get paid out in mods?

How did I miss that?

Nice...


it appeared just before Fridays payout.
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December 08, 2014, 05:34:20 PM
 #933

I was wondering if someone could point me in the general direction of understanding some of the more advanced algo's with LTCgear.

I understand how the LTC mining and regular shares work - but now that I've got some experience with that, I'm trying to wrap my head around the Dual Mod M10 and the second generation product and what the ROI for that looks like.

I played around with ltcgearcalc.com and think that I'm doing something wrong because with the Dual Mod M10 for a $1200 product it seems to be making only a 30-40 dollar a week difference in what I'm doing.  I'm also trying to get a ballpark figure on what a 10 pack of the 2nd gen chips would generate in $ and I'm having a hard time.

I don't know if I'm overthinking things - but I was wondering if some kind soul could break it down for me - possibly using real world data examples so I have some more information to make a decision.  Bitcoin tips will be provided if I can understand this well enough to explain it to someone else Smiley

Not trying to hijack the thread - but I suspect a lot of other people reading this might need some help understanding how these more advanced items work.

Thanks!
CrazyLoaf
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December 08, 2014, 05:50:22 PM
 #934

Has anyone heard back from Chris what 1/2.5 means? If it means the Scrypt shares pay out as x2.5, that's a damn good deal.
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December 08, 2014, 05:57:19 PM
 #935

I read that as meaning they pay 0.4 of the Scrypt speed until he actually gets the chips in mid January.  This would be 12Mhs for the 10 share unit.

Has anyone heard back from Chris what 1/2.5 means? If it means the Scrypt shares pay out as x2.5, that's a damn good deal.
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December 08, 2014, 06:36:47 PM
 #936

Also is anyone running a deal where if you buy through their affiliate link they hook you up with free shares?
wlefever
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December 08, 2014, 11:27:11 PM
 #937

Also is anyone running a deal where if you buy through their affiliate link they hook you up with free shares?

I recommend https://litecointalk.org/index.php?board=98.0 if you are looking for that
enso
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December 09, 2014, 01:36:11 AM
 #938

What is the best way to get in contact with Chris @ LTC Gear?  I submitted a support request 48 hours ago, and haven't heard anything yet.
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December 09, 2014, 01:49:06 AM
 #939

What is the best way to get in contact with Chris @ LTC Gear?  I submitted a support request 48 hours ago, and haven't heard anything yet.

That's the best way really... if it's payout/acct related... wait another day or so and try again... if it's something non-serious... likely he won't respond.

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December 09, 2014, 02:16:34 AM
 #940

Thanks for the response.

I bought a 3K0 qASIC pack and it has been in an 'on-hold' status for the last 2.5 days.  Over 158 confirmations on the payment already.  I figured that it was an oversight or something, but wanna make sure that it gets fixed before Friday :-)

-enso
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