[HAVELOCK] SCRYPT 4 GH/s hosted scrypt mining project by CRYPTX - page 18.

IamNotSure

hero member

Activity: 672

Merit: 500

Quote from: TheSmackDown on July 03, 2014, 06:07:53 AM

People are saying the LTC/BTC ratio will make a run upwards sometime soon, possibly in next 3 weeks. Then the dividend will sky rocket too. Any takers on this?

AS i mention before i am no techy.

That's possible, but it can go the other way.

We are just stuck here and we cannot do anything else than wait. I regret my YES vote for the reinvest, we should have distributed the reinvest fund as dividends to limit the loss, now we are stuck with miners which will turn unprofitable if the LTC plunge isn't stopping.

TheSmackDown

member

Activity: 97

Merit: 10

People are saying the LTC/BTC ratio will make a run upwards sometime soon, possibly in next 3 weeks. Then the dividend will sky rocket too. Any takers on this?

AS i mention before i am no techy.

TheSmackDown

member

Activity: 97

Merit: 10

SO with any luck the LTC/BTC ratio needs to shoot up, and then the project will be good?

nwfella

legendary

Activity: 1610

Merit: 1000

Well hello there!

Quote from: MonkeyBear68 on July 02, 2014, 01:20:37 PM

NotLambchop is correct. The only ones making any profits are the chip manufactures. All these mining companies will be lucky if they cover their initial investment. The hash rate is simply going up too quickly.

The only mines that might make a small profit will be the ones in the places with the cheapest electricity. Washington State has rates as low as $0.02 a kwh. I believe BTC mines will move to those areas until ultimately they end up actually driving up the power rates in those areas. Mine operators will also need to be very efficient for their share-holders to make any profit.

The price graph for LTC is basically showing that its demand has fallen relative to BTC. Every week LTC is dropping. This means lower and lower dividends until ultimately only the hosting fee is covered.

Agree with everything in this post except the chip manufacturers part. If you think cryptx and crew haven't made a killing on their scryptx and sha based projects with these hosting fee's your out of your right mind.

As for litecoin, imho unless something innovative coming out of the litecoin dev camp relatively soon I fear this downward price trend will continue. Makes virtually 0 sense to ever mine LTC at this point given profitability ratios.

IPO Magic

full member

Activity: 138

Merit: 100

^I'm IPO Magic, a friend of the guy who told you to GTFO of Active Mining when it was still trading above IPO.
Now that I answered your question, how about answering mine?
...or were you just bluffing?

pedrog

legendary

Activity: 2786

Merit: 1031

Quote from: IPO Magic on July 02, 2014, 06:12:02 PM

Quote from: pedrog on July 02, 2014, 04:04:28 PM

Quote from: NotLambchop on July 02, 2014, 03:56:48 PM

Lol, OK. I'm sure you also sold your coins @$1200 and bought back @flash_crash.
Tell me which buy orders are yours, so when the price continues to tank, you too can receive my thoughtful condolences gif

*Are you the 333/333/333 guy ~0.01990242? 'Cos that's the only buy worth mentioning.

It's very hard and I even call it luck to sell and buy on the very top and very low price but between the two there's a good range for profit, I'm pretty sure you're well aware of that...

You forgot to tell me which buy orders are yours.
BTW, aren't you still "invested" in my other favorite, Active Mining? Your second most profitable investment?

I didn't forgot anything... And who tha fuck are you?!

IPO Magic

full member

Activity: 138

Merit: 100

Quote from: pedrog on July 02, 2014, 04:04:28 PM

Quote from: NotLambchop on July 02, 2014, 03:56:48 PM

Lol, OK. I'm sure you also sold your coins @$1200 and bought back @flash_crash.
Tell me which buy orders are yours, so when the price continues to tank, you too can receive my thoughtful condolences gif

*Are you the 333/333/333 guy ~0.01990242? 'Cos that's the only buy worth mentioning.

It's very hard and I even call it luck to sell and buy on the very top and very low price but between the two there's a good range for profit, I'm pretty sure you're well aware of that...

You forgot to tell me which buy orders are yours.
BTW, aren't you still "invested" in my other favorite, Active Mining? Your second most profitable investment?

pedrog

legendary

Activity: 2786

Merit: 1031

Ok, for the people who think litecoin is doomed, here's some historical data, it has been "doomed" a few times, compare it with BTC/USD there seems to be a correlation.

LTC/BTC

BTC/USD

But this doesn't matter, at least for this discussion, SCRYPT-X should be mining whatever coin is most profitable, distributing hashrate amongst a few multipools seems a good idea to me.

Korbman

legendary

Activity: 1064

Merit: 1001

Quote from: TheSmackDown on July 02, 2014, 01:50:51 PM

I thought the asic chip drove difficulty up so high on btc that the price had to rise due to cost of producing?

That's a misconception, and it's more likely the opposite is true. If the Bitcoin price was 1/10th as much as it is right now, chances are we wouldn't see network growth nearly as rapid due to associated energy costs. A higher BTC/Fiat value gives miners a greater incentive to do what they do. Manufacturers don't care what the network difficulty or BTC/Fiat price is so long as they can meet demand.

As far as Litecoin goes, there are two major drawbacks to how it's viewed, which tie into one another:
1) It's primarily an arbitrage medium. Many Scrypt miners convert whatever they've made back into Bitcoin. For decent sized farms like ScryptX that sell everything they make back into BTC, that may contribute to a declining altcoin value.
2) Litecoin isn't nearly as widely accepted as Bitcoin. Until Litecoin can be used in everyday transactions, or at least garner some positive media attention, the exchange rate will continue to fluctuate to what's largely a niche crowd.

pedrog

legendary

Activity: 2786

Merit: 1031

Quote from: NotLambchop on July 02, 2014, 03:56:48 PM

Lol, OK. I'm sure you also sold your coins @$1200 and bought back @flash_crash.
Tell me which buy orders are yours, so when the price continues to tank, you too can receive my thoughtful condolences gif

*Are you the 333/333/333 guy ~0.01990242? 'Cos that's the only buy worth mentioning.

It's very hard and I even call it luck to sell and buy on the very top and very low price but between the two there's a good range for profit, I'm pretty sure you're well aware of that...

NotLambchop

sr. member

Activity: 378

Merit: 254

Lol, OK. I'm sure you also sold your coins @$1200 and bought back @flash_crash.
Tell me which buy orders are yours, so when the price continues to tank, you too can receive my thoughtful condolences gif

*Are you the 333/333/333 guy ~0.01990242? 'Cos that's the only buy worth mentioning.

pedrog

legendary

Activity: 2786

Merit: 1031

Quote from: NotLambchop on July 02, 2014, 01:08:03 PM

Lol, way ahead of you, see edit above

Lemmy get this straight tho--you're doubling down on *TWO* of the worst preforming securities on HavelocK?

Horrible American song:

You've gotta know when to hold 'em
Know when to fold 'em
Know when to walk away
Know when to run

Perhaps you misunderstood me, I have buy orders that need to be filled...

And, at least for me, PETA is the best performing security on Havelock.

TheSmackDown

member

Activity: 97

Merit: 10

I thought the asic chip drove difficulty up so high on btc that the price had to rise due to cost of producing? You will hv to forgive me I am no techy, but now feel if i wanted to lose this kind of money, i should hv spent 2k per week on a software and hardware engineer to run my own btc/scrypt mine. FFFFing bollox hind sight, just wanted an easy return, Sad

come on scrypt x prove yo mofo self or give me my share price.

EdoBcn

sr. member

Activity: 241

Merit: 250

Quote from: IamNotSure on July 02, 2014, 01:27:40 PM

Time will tell. We can't really sell our shares in such a tiny market, so we are stuck here.

+1
stuck. but dividends are not bad

IamNotSure

hero member

Activity: 672

Merit: 500

Time will tell. We can't really sell our shares in such a tiny market, so we are stuck here.

Actually I see the reinforced Hashrate of the network as something positive, but the market seems to see otherwise.

NotLambchop

sr. member

Activity: 378

Merit: 254

Quote from: TheSmackDown on July 02, 2014, 01:17:32 PM

i thought scrypt asics were suppossed to drive prices higher in long run?

Why? Being ASIC-resistant is what made scrypt coins attractive in the first place.

MonkeyBear68

full member

Activity: 154

Merit: 100

NotLambchop is correct. The only ones making any profits are the chip manufactures. All these mining companies will be lucky if they cover their initial investment. The hash rate is simply going up too quickly.

The only mines that might make a small profit will be the ones in the places with the cheapest electricity. Washington State has rates as low as $0.02 a kwh. I believe BTC mines will move to those areas until ultimately they end up actually driving up the power rates in those areas. Mine operators will also need to be very efficient for their share-holders to make any profit.

The price graph for LTC is basically showing that its demand has fallen relative to BTC. Every week LTC is dropping. This means lower and lower dividends until ultimately only the hosting fee is covered.

TheSmackDown

member

Activity: 97

Merit: 10

i thought scrypt asics were suppossed to drive prices higher in long run?

NotLambchop

sr. member

Activity: 378

Merit: 254

Lol, way ahead of you, see edit above

Lemmy get this straight tho--you're doubling down on *TWO* of the worst preforming securities on HavelocK?

Horrible American song:

You've gotta know when to hold 'em
Know when to fold 'em
Know when to walk away
Know when to run

pedrog

legendary

Activity: 2786

Merit: 1031

Quote from: NotLambchop on July 02, 2014, 01:02:46 PM

Just edited the post.

You forgot BTC/USD chart...

And can you go back to PETA's topic I have some orders that need to be filled...

Topic: [HAVELOCK] SCRYPT 4 GH/s hosted scrypt mining project by CRYPTX - page 18. (Read 64118 times)