Hi I am new at the forum. Now I am introducing myself into mining, I used to do it with a 280X on 2014 but the performance wasnt really good, now I want to start with a good inversion, I have 1500 euros but I dont know what rig make, also I read something about litecoin mining hardware, like asics. Is it worth it? I have been looking for it but I dont know where to buy it.
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See my view on this on the below thread
not sure if there is anything worth buying for any asic flavor of equip right now be it scrypt-pow or x11 or sha-256
https://www.litecointalk.io/t/a4-dominator-280mh-group-buy-3-min-at-1800-1-yr-roi-anyone/97
if you think LTC is gonna pump ā¦just sell crap on eBay or what youād put in a miner and buy it
Iād wait till 2018 after Chinese new year for equip ā¦too much a glut now IMHO
(note: the bitmain D3 fiasco on x11 ā¦never to ROI)
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I agree with @Searing, after spending the last 2 months staying up late trolling the web for miners, I decided to just stick with what I have and wait until the late winter. Iāve been following that thread @Searing shared, minings really a hobby for me.
If you really want to get a rig, my recommendation would be to get the best of the best you can find. No sense wasting money on old equipment because the difficulty will rise too much for it to pay off. (I made this āmistakeā with some Gridseedsā¦ but it was a low-cost way to get a crash course in mining LTC, so maybe not a mistake more as a lessonā¦)
Also, when I do my ROI calculation, I factor in the fact that Iām only going to mine with the rig for 12-24 months before I get a better machine and I sell my current rig for about 1/2 of what I paid for it (hopefully that or moreā¦). So I bought my A4 Dominator for $1600 months ago, Iāll mine with it for another 6 months or so then list it on eBay since a more powerful machine to replace it. (A4s are still going for around $1600 too at the momentā¦)
Iām not claiming Iām an expert or anything at mining but this is my strategy: Buy the latest and greatest machine but donāt pay too much more than what it would cost brand new (e.g. donāt pay > $2500 for an L3+ or > $3500 for an A4+). Mine the latest equipment until the next-gen equipment is around and then buy that, once its up and running, sell the old equipment on eBay and hopefully return on your investment.
As for youāre questions:
Is it worth it?
For me, yes it is. Iām a Computer Engineering BS and I just love running my own little (but loud and hot) data center so even if the difficulty spikes and I start making 0.01 LTC every 3 days (like my gridseeds did) I still think itās worth it. At the moment, a few hundred $$ in profit each month (after elec. costs) is totally worth it. Even though I havenāt mined the full cost of my A4 yet, I still see those machines selling for pretty much the same price I bought mine at months ago so Iām not too concerned about what ROI calculators tell me (I factor in the depreciation cost of the equipment and resell value to do a real ROI calculation).
I have been looking for it but I donāt know where to buy it.
I recommend going on eBay every day or two and watching equipment. Both my machines I got pretty much close to what they sell new on eBay because I was watching and waiting for a deal. Download the app on your phone and just click watch on all the miners you can. WAIT FOR A DEAL, if you wait long enough, Iām sure youāll find a good deal on a machine, prices on machines go as high as double what they are brand new with is ridiculous. Donāt feel like you need to splurge on a machine so you can start mining ASAP, be patient, itāll save you hundreds if not thousands, take your money and put it in LTC in the meantime and watch it grow. The L3+ and the A4+ are the machines Iād watch right now. Iād stear clear of anything sub-250mhs. (againā¦ not an expert at mining yet)
sometimes that is the play ā¦I started mining in 2013 (btc) and ltc in 2014
did not buy NEW machines till 2016 and they were dumb luck i found out knc banksruptcy machines
i did buy used knc titans etc in that amount of time before 2016 and of course HODL
so in them āold daysā youād usually take your shot on machines in spring or fall
so I got stuff in the springā¦and of course IF that is the correct choiceā¦if you got in at the right time
then of course by FALL everyone is inā¦so ā¦it is hard but dumb about pulling it off 2x in a year imho
years ago ā¦you could NOT find anything but 1x a yearā¦now it is toaster city
but the same appliesā¦I got stuff in spring 2017 got lucky thru summerā¦the rout of equip will burn itself
out
there will be new equp (maybe) or at least priced less (maybe) in spring of 2018 and I will do calcs again
of course if LTC price pumpt so 150 to 300 bucks bitmain will just say āfirmware errorā and not ship your
product anyway on that like like they did this last summerā¦so be cautious even with a price pump
or you may give them a 6 week loan of your equip you paid for for them to use
but anyway, i right time to buy and a wrong timeā¦but usually ONLY 1 of the two times a year you maybe
can buy any miners of any flavor .you should keep this in mind
I did great on L3ās and L3+'s spring and summer but got ācockyā and really needed the equip deductions for the tax man
so got 2 D3ās this fall (broke my own rule)ā¦well the equip deduction worked fineā¦but likely will eat 25% after all and they go doorstops on that deal
live an learnā¦you want to be AHEAD of the other lemmingsā¦(or maybe I should say be the last lemming) to bet any equip
but again, if LTC pumps above $150 and you have ROI miners it wonāt matter muchā¦used stuff you have will work
just dandy ā¦and if the goal is to sock away crypto ā¦then just ride that wave
gonna be tough thou
2016 got knc liguidation equip and 1 ebay new dump also unsued for 7 knc titans of 34 cubes all NEW
(again dumb luck)
2017
got a mess of L3ās and L3+'s *using my above buy someting I need the equip deduction reasoningā¦and it was
maybe it was 12-14 month ROI guessā¦when LTC pump ā¦and LTC was 4.15 usdā¦I made an april 1 2017
prediction the floor was at $6 for LTC and pulled the trigger on equip (was mockedā¦april fools day did not help)
ā¦this post is someplace on www.bitcointalk.org
and of course it LTC now is 73.80 usd
again dumb luck
it is damn hard to believe fairydust/unicorn farts/bambi winks/magical inet $$$/ are gonna fall out of the sky
and for a 3rd year in a row I can see equipment rainbows
but hey, a guy can dream ā¦just be parinoid
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