I'd like to start mining LTC your advice as of june 2018?

litecoin

#1

I’m thinking to start mining and buy a single miner as a start.

  1. Does Antiminer L3++ still the way to go or should I wait for a better miner coming soon ?

  2. I’m in Quebec, Canada, electricity is very cheap but I’m still wondering with all the new LTC miners coming in, does it worth the investment ? Actually Antminer L3+++ is 599 USD so looks pretty accessible.

Any thoughts and advices from experienced miners would be much appreciated :slight_smile:


#2

My L3+ on www.litecoinpool.org a free pool that pays 101% is making for one Bitmain 500mh 800 watt
miner at your $520 price and at 124 LTC…makes below (using pool calculator at 101%) using ave electric
price for Summer in the USA of 12c kwh is the following:

71c a day mining or 21.28 a month. ie…you’d pretty much never ROI

|24 hours|0.02430191 LTC|3.01 USD|2.30 USD|0.71 USD|
|7 days|0.17011338 LTC|21.09 USD|16.13 USD|4.97 USD|
|30 days|0.72905735 LTC|90.40 USD|69.12 USD|21.28 USD|

run away, run away…

Searing


#3

Actually in QC electricity is 0.5 USD kwh

Of course there is some expectation that LTC will make some gain in the coming months… well it’s a bet I know !

When talking with other around here in Quebec, they say that it is still profitable… for now… and looks like difficulty is lowering in June…


#4

I should add that I’ve got a deal for two L3T++ @ 657 each, including PSU and electric cables. They are brand new and I can get them in 2 days… not months


#5

yep…and everyone turns there machines back…if the majority of L3+'s are the only things LEFT mining LTC…then it goes to reason that anytime difficulty drops…the majority will turn their machines back on in that all are the same speed and advantage

only electricity will be the determining factor…

thus the whole network will yo/yo or if the difficulty gets to high that only Bitmain (their own low cost per unit and low electric)

will be able to mine pow-scrypt coins and LTC and all else will be turned on

so are people really going to support a coin that bitmain can only mine say over the summer (or worse have a new machine doing so at better eff and running difficulty really up) before the usual 4 - 5 months ‘pre-order’ of the same is in anyone’s hands?

sh*t LTC and Charlie Lee might have to make it a POS coin…if the only one able to mine LTC is going to be bitmain over the summer and/or worse as I mentioned above

This is what you can make with the latest L3+ today at 500mh and 800 watts at ave USA price of 12c kwh at the current price for LTC of $117

this is from www.litecoinpool.org/calc (this is free LTC pool and pays 101% the calc includes the 101%)

|24 hours|0.02509517 LTC|2.94 USD|2.30 USD|0.63 USD|
|7 days|0.17566618 LTC|20.55 USD|16.13 USD|4.42 USD|
|30 days|0.75285505 LTC|88.08 USD|69.12 USD|18.96 USD|

And Bitmain has the L3+ at $490 usd for making 63c a day on above calculations

yeah, IMHO, they have to have a NEW miner they are gonna pop out this Summer and run for 4 months

nothing else makes any sense…so I’d wait on getting ANY ASIC miner of ANY flavor or protocol…

also if you are into BTC the 7nm (vs Bitmain 14nm) has just come out…they claim to want to kill

Bitmain …I wish them luck

https://www.coindesk.com/1999-gmo-reveals-details-of-its-new-7nm-bitcoin-miner/

likely, they eventually will have scrypt-pow…i.f the price justifies it that is

later

brad


#6

L3++ is 580 MH/s not 500 MH/s … for what it’s worth … is there other way/miner to mine Litecoin profitably ?

In my part of the world and a business mindset, is not a bad thing if other turns their miner off and let me mine because electricity is very cheap around here :slight_smile: Even if I don’t make much but don’t loose I can still mine as a way to get LTC and hoping that time will increase their value… may be I’m too optimistic… I don’t know !


#7

at 35c a day on my L3+ I’d run away fast, very fast, my assumption is that Bitmain is going to release a new miner this summer …mine with it all summer…drive all of the existing LTC miners like the L3+ or any other units in existance now …off the planet…and offer only their units in late fall from the pre-order over summer…

not sure i’ll even have anything to do with scrypt pow coins with those games…they could very well kill

all the coins under pow-scrypt protocol…

so stay away, its a trap, I have 8,000 mh or equiv of 16 L3+'s and I’m spending $1,290 in electric and making

$75 bucks a month

at this rate of difficulty and price for LTC and other scrypt-pow EVERYONES units will be off by July 4th

I’m certainly not gonna buy a pre-order at 3x or 4x the 35c a day i’m making now for LTC…but I’m sure

bitmain can do just dandy with equip costs and elec cheap over the summer

anyway, what I’m expecting we will see

again, do the calcs…you can’t ROI with an L3+ or any other unit…

brad


#8

My advice is: Don’t do it, bitmain is a trap. It’s not worth the hassle (especially if you’re just going to get 1 machine), better off putting that money into a Roth IRA and letting it grow (tax free).

rough… I’ve been using Innosilicon equipment. Went with the A4+ units back in December. Only doing a little better even with the small power savings and higher hash rate from the A4+ units. Relocating my equipment to Canada for cheaper power costs.


#9

On the other hand, i did get this equip in spring/summer of 2017, when bitmain was not playing games…so I’ve ROI’d and then some.

but latest games they play, no angles…thus I’m out when these croak

it was a good run from fall of 2013 (btc knc jupiter) till now though…only thing likely NOT to roi for me in that time period was the 6 L3+'s i got 2 months ago

i always knew I’d go a miner or so too far…them’s the breaks

but any asic or any hardware mining seems iffy to the extreme to me now…

been putting my money in LISK a pos coin…we will see…brad


#10

Hello friend, greetings from Colombia. I have the new Antminer L3 ++ of 580 Mh / s and I am mining since May 22. Every day at midnight I am receiving the payment from Antpool of 0.026 LTC, that is the daily figure without fail, so you can multiply that value by the current price of the currency, that is approximately one Litecoin coin per month. I believe in Litecpin’s techcology and that’s why I bought it, but at the moment it’s not very profitable, so you’ll have to take charge of the energy prices in your house. For my part, I do not have water or TV expenses, so in a certain way I can cope with this drop in prices, it is a cumulative stage to later sell at good prices. I also recommend that you carefully review the Antminer Z9 Mini, even risk a rise in difficulty or a possible fork in Zcash, even so you could mine other currencies, luckily with that


#11

I’m running 2 x L3++ now at 100$/LTC I’m making 1.83 USD profit per day.

With a power meter I noticed that one L3++ antminer is pulling around 1100 watt. So profit here is according to real wattage usage.

Actually I’m making 0.053 LTC per day.

Not much profit actually but more then what I heard from others. Also my profit is calculated upon exchanging in FIAT so of course I will not exchange it at this price. I can handle my electricity expenses for now.

I found many comments seems to be based on a daily profit taking… Without hodling in mind…

We’ll see how this will work out for me. I’m thinking to partner with a small greenhouse that has special discount on electricity, I could use the heat of the antminers to heat the place and benefits of a really good discount on electricity. Of course I would need for this place more antminers but it could be a great way of be environmental friendly and benefits of 0.03$/kwh :slight_smile:


#12

Just shut off my 8,000mh of miners a the data hall. Losing about $237 a month. On a month to month

but was allowed to dump today at the 1/2 month mark. Basically, we need about $165 LTC to get an

L3+ (latest model scrypt-pow out) to make over $1 a day…hardly inspiring…actually it would take $200 LTC

to get me enthused again…but likely, difficulty will far outstrip even that amount …that is probably months

away

can’t complain …mining btc, ltc and atls since 2013 has been good to me…but I’m out

maybe a hobby miner can mine at a loss each month and hope…me I am losing 2.49 LTC a month…just

leaving stuff on…so …punted…again the odds of me turning these back on are the same as my dream of

being Natalie Portman’s Love Puppet…but hey, a guy can dream! (so there is a chance?)


#13

I agree, the dump of cheap mining equipment available makes even $200+ USD/LTC unlikely to be profitable for anyone that doesn’t get power sub $0.03 USD and I doubt we’re going to see $1000 LTC anytime soon (if ever). Glad I used LTC to buy my equipment back when it was trading near $300, I can almost sell my equipment and recouple all that LTC, took a gamble that LTC was at all time high and would :chart_with_downwards_trend: Probably the one smart move I made with mining was to buy the equipment with LTC, not USD


#14

there’s the rub…no one will want to buy 4 L3’a and 14 L3+'s off me at this point in time…the only thing of any

real value is the bitmain PSU’s that I have running them…thus they will make a nice ASIC wall in that attic!