Topic: 5 Reasons to NOT Buy or Mine Litecoin LTC in 2019/2020 | Profitability 2019 - page 2. (Read 740 times)

Any sane person thinks like that. Only trolls, scammers, chupacabras will say they prefer litecoin.

Why should satoshi dump his BTC for inflatable money. Don't see this happening 

I really don't like LTC and Charlie Lee dumped his own bags, whos to say satoshi won't do the same some day?  Of course I respect bitcoin a lot more than litecoin, but it s shady as well.  Some anonymous guy  or team creates a coin and mines about 1 million for himself then disappears from this forum.

It was more than that, too many shady things happened, I know most of them, reason I never invested in ltc, ltc has always been a way to scam for bitcoin. That is why it was created, ltc's creator, charlie lee, won't say that but its the truth.

Not sure the bold is correct.  We are at 10000 and I think we have been over 10000 more then 14 days.

Here is the deal LTC developers did some shady shit the first year it was built. I believe the builder could use Gpus to mine for many months while others could only mine with CPU’s.

Kano has gone into detail on this and I did some research it does appear that LTC developers did that years ago.

On the positive side of ltc it is better designed to scale then btc. And for crypto to work we need coins to be mined. More then just btc.

Since I have a power deal that is a 50-50 coin split with my host I will continue to mine with my 11gh of hash.  This is in effect 5.5gh for zero cost which is about 0.11 ltc a day or 7-8 dollars a day.
But if you want to break into ltc and buy a pair of L3+ for 200

Use jstefanop software you will do 1gh for 1500 watts

1 gh is only 0.02 ltc or 1.50 a day.  1500 watts is 36 kwatts so if you have 3 cent power you pay 1.08

This nets to 42 cents which is a 500 days to break even.

So to mine with newly purchased ltc gear is a hard choice even with 3 cent power.

For me it is an easy choice my gear is paid for I make 8 dollars profit everyday.

So is Voskcoin correct for some yes for others no.

Is jstefanop correct for some yes for others no.

Anyone looking to break into mining ltc is at high risk.
Anyone with paid off ltc gear and a good power deal should mine on.

Once again a field of gray to pick from not a stark black and white choice.

See that is the problem, they will raise as bitcoin goes up or stay still as bitcoins goes down. Truth to be told, you can't win like used to do. Mining the way it is --> game over, midrange gpus price which used to be $150, has been for sometime around $400. Mining is done for and soon as eth goes pos then the nail in the coffin will hit the remaining miners.

yes , no profit of mining litecoin, also paying out the energy very low it isnt profit. maybe there are several farms paying no bills for electricty.... some months ago it was 20$ each litecoin , maybe if you bought at that time you should be in profit....... now price should be 400$ to be in profit...  i think it is caused by the instability of the cryptocurrencies.... this is a good thing that you cant always do good gains , just smart guys do

someone asked before the halving if i wanted to buy some l3+ at very low price of electricty and price of hardware , but i immediatly realize that it wasnt a good move, we will wait some time, maybe it has only to stabilize... and bitcoin price going up isnt a good thing , they continued to raise the price of mining equipment

I was also surprised that LTC hit that crazy ATH figure back in 2017. I remember mining that coin with my GPU back in 2014 and I remember that miners kept dumping and dumping LTC until it hit like $1.50 or $1.25 or some crazy low figure. I assumed the coin was done and finished.

I don't really know all that much about LTC, but I am assuming that maybe in Asia it has a market. Maybe due to its fast block times and cheap transaction fees maybe people actually use it for goods and services. Not sure however. The developement seems pretty active and they were the first to activate Segwit which pegged the way for BTC to activate Segwit.

The only brand that the mainstream even recognizes is bitcoin and maybe ethereum to a lesser degree.

The only cryptocoin that has any value in its brand is bitcoin and nothing else. LTC and doge are scamcoins like many other thousands of crap and useless coins.

Indeed i keep DOGE for trade and will buy more at 20 satoshi. LTC is not my favorite either but will take it for 0.003 btc.

DOGE and LTC are big names and long history (a brand has value). I don't think those coins disappear. Also i prefer those coins above new liquidy coins.

The difference between a scam and a not scam coin is the speculative tech value and litecoin has no tech value whatsoever, bitcoin is no different although it has name, was the first and people got used to it, and ethereum is the only coin at moment that offers the highest speculative tech value. It's easy to see scam coins going up and then crashing hard down like ltc has always been, it rises fast and crashes fast. Now a coin like eth with the highest speculative tech value, people think many times before selling it, yes it crashed like all coins but it is the only coin that will rise fast once this start going up again. Well, you will see.

complete agreement 

^ Doge? You just lost any credibility that you had.  One of the biggest shitcoins, that thing is a complete joke, a meme coin, serious crypto investors don't own that shit. Maybe some pump and dumps but no real future.

I say LTC is a sinking ship, even the creator (not much of a creator, just coped bitccoin) dumped that copycat coin.

Personally i make a devide in luiqidy coins and utility coins. ETH is for me a gaint tech token. BTC, LTC, DOGE, DASH, XMR .... i prefer above tech tokens. To bad that some coins fall in the wrong managment. But maybe DOGE gets nore decentralised again. For now i keep BTC, Dash. xmr and some doge.

It for sure has crappy Trend Analysis

It will go up as bitcoin does.




You are aware that since its conception if you bought BTC and held it there is only like 2 weeks that you would of lost money buying it right?
ETH is another story, I have a bunch of it and it will rise with BTC but who knows how much.

Yea for sure. Did you hear about that other scammy coin called bitcoin? They scammed people into buying it at 20k and now its only 10k...would definitely stay away from that as well.

Dont even get me started on Ethereum...scammers got people to pay 1400 for it and now its only 200 LOL.

 

Beside ASIC miner profitability. Did some technical (chip enigneer) party did scope all the techs on the miners from Bitmain. I am bid paranode is a producer manufacture chips whit unwanted funtions, like share a bid of the hasrate to the producer.
Its pretty common that producers make on purpose backdoors for there on use. Recently like INTEL had back doors pointed out as manufacture failures (yhe right). Microsoft put updates to cover those back doors.
my concern is that bitmain is kept on a close eye what they are doing. My doom senario is that the have a backdoor to optain the hash rate at a trigger and overcome the 51% of the network haspower. Okay i am a bit paranode in nature, but think its good the point it out  

Litecoin was always a scam and that hasn't changed, scammers tried to scam people this year and litecoin price hit $140 and now $70. I would stay away from it.

Considering buying or mining Litecoin LTC? Here's 5 reasons why you SHOULD NOT buy or mine Litecoin LTC in 2019/2020!

https://www.youtube.com/watch?v=CFiE4wkDvt0


Litecoin mining skyrocketed along with the 2017 cryptocurrency bullrun, unfortunately Litecoin mining never recovered. Bitmain, Innosilicon and other public/private ASIC miner manufacturers have created too many miners for the current Scrypt mining algorithm coins which includes the likes of Litecoin, Dogecoin, and several other cryptocurrencies. Litecoin LTC block rewards were halved on schedule in the middle of 2019, which further reduced Litecoin LTC mining profitability to a level that most residential miners could never be competitive at. It is simple, if it costs you $2 to mine $1 worth of Litecoin, you should simply by $2 worth of that coin. With little mining viable on Litecoin, and minimal developer activity the outlook for this "Bitcoin testnet" coin is looking rather grim.

All relevant timestamps and links in the video description on YouTube.