Hmm... $1.84 for 1mh on ltc per daily power cost $1.20, pool fee 0.04$ = profit 0.60 cents/day.
Methink some miners better turn off their mining machines.
Had better turn them off? This only makes sense if a) there is no profit (your calculations say there is) and b) you're selling your Crypto to pay for your electricity. Or if you're mining but you're a bear.
Let me point out the variable that you seem to have forgotten ; Power cost:
It make sense if you're running a 250/mh farm at higher than 0.1 kwh. As stated by some users who have farm, sometimes they pay upward of 0.2kwh. It would cost such user @ 0.2kwh a minimum of 13 000$ for power per month for 14 000$~ worth of LTC. But truth is, such power drain is often considered industrial which crank up the price even more.
At the moment there's profit for your average GPU miner who pays 0.1kwh, therefore :
Methink some miners better turn off their mining machines.
My power provider charge only 0.051 for electricity, but if i use more than what a regular house would use , the price go up to 0.2 after the first 30kw And if i was using 84kwh, the cost would be 0.36kw after the first 50kw. So would pay easily pay 0.3 even tho small miners here(where i live) normally only pay 0.051.
So Again, unless they want to gamble whether the price go back up to 700$+ SOME miner will have to shut down
I few thoughts about mining "profits"...
First off, unless you are selling each and everything coin you mine on a daily basis there is really no such thing as "profit per day". I do however, understand that most miners use things like mining calculators that into account power consumption and such but here is really the correct way to think about the relationship between mining, power consumption and profit...
Your mining rig basically allows you to "purchase" coins at a greatly reduced rate compared to a typical exchange. This purchase of course happens once a month when you pay your power bill. For example lets say you are running a 5 Mhs rig that uses ~2000W. Over the course of the month you might generate about 26 LTC. At $0.10 per KWh your monthly power costs would be around $144. Therefore, you have effectively purchased 26 LTC for $144 or for about $5.54 per litecoin...far cheaper than anywhere else you could get one at the moment.
Now lets say 2 months from difficulty rises to 12000 and now youre only mining 13 LTC a month. Your power costs would obviously stay the same @ $144. At this point the "mining calculators" might tell you that you are breaking even (or even losing money) but you are effectively buy 13 LTC for $144 or $11.07 per light coin. So as long as you think the value of the LTC is going to eventually top $11.07 then you are not mining at a loss.
My point is this...if you think that LTC is going to crash and be worth far less in the future than it is today then yes pull the plug. The days of quick short term profits and 30 day ROIs are clearly over. If on the other hand you believe that a LTC (or any other crypto) is worth far more than its valued today then dont even think about unplugging that rig. "Mining when not profitable" might be the best investment youve ever made.
