Topic: I need suggestions about buying an asic scrypt Miner. (Read 15521 times)

LTC broke $350 this month and headed to $1000

Do you mean the total profit you have made from the kncminer? How much did you pay for the miner and your electricity price?

I make a profit with my kncminer titan, which goes for a bit more than 800 euro right now, but keep your eye out you can get them cheap from time to time.

Innosilicon mentioned "3 months to full production once the A4 is fully funded" in a post on here somewhere.

  Actually, it's in their post about the A4 on their website too, probably easier to find that.

They have also stated that the A3 (SHA256) and A4 (Scrypt) would "come out at the same time" in a different post.

My best guess is that the next few months are going to get even more INTERESTING (as in the Chinese Curse) on the Bitcoin side than they have been since the S7 debut, but Litecoin should be somewhat quieter since the Litecoin halfing was LAST year and a lot fewer folks making gear or having plans to make gear for Scrypt.

You are right. It will take years for bitcoin to pass litecoin.

@quintleo
Are there any sources of the A4 coming out?

 A4 sometime this year, timeframe uncertain.
 Possibly a second-generation Alcheminer, timeframe VERY uncertain even if they do get the "financing they need".
 Ghods only knows what SFARDS is doing, or not doing, on the SF100 or a possible successor.


 On the other hand, A2s right now are making money even with average electric rates and look likely to stay profitable if you have cheap or very cheap electric for a while even after the new stuff shows up in quantity.
 Hint, EVERYONE is having yield issues with the 14/16nm stuff, new tech still getting sorted out, so even after consumer-available 14/16nm miners show up it'll probably take a while for them to have a serious impact on hashrates.

So since no new miners are coming on the market, and LTC is the future, these are machines that will make money forever. So why is anyone selling 

Somehow I don't believe that Mr. Lee knows EVERYTHING about all Chinese farms, especially when he doesn't operate any of them.
 I've seen a couple comments from at least one Chinese farm operator about how cheap (NOT FREE) their electric was and why - I'll take THAT comment over the comments of someone that DOES NOT OPERATE A FARM AND HAS ZERO DIRECT KNOWLAGE.



 Try crunching the numbers - even the S7 has ZERO chance of achieving RoI unless your electric is VERY VERY cheap due to the high Bitcoin difficulty increases, while A2 units just keep plugging away on pretty much FLAT with small bounce-around Litecoin difficulties that have not significantly increased since July and only went up a little in the 3 months before THAT.

 No, I don't "believe in Litecoin" - but right now mining gear for it is a TON more likely to achieve RoI than Bitcoin gear, which is ALL overpriced and almost all of it almost certain to become unprofitable even WITH very very cheap electric mid-summer when the halfing occurs, or in the case of the S7 and Avalon 6 (and the B-Eleven if it actually shows up this month or next) probably a couple months later after having been barely better than break-even after the block reward halfing.

CRUNCH THE BLOODY NUMBERS.

 I've done it repeatedly - and they keep coming up "3 cent electric you might have a faint prayer of RoI on an S7, *IF* the diff increases don't start jumping even more in a few months when 14/16nm gear hits the Bitcoin market" - AND if Bitcoin's currently inflated pricing holds up long enough.

 A2's will be profitable on cheap electric even if the difficulty TRIPLES - which I don't see any real probability of happening in the next 6 months, and fairly low probability of happening in a year.

Why don't you inform Charlie Lee about that, since he claimed it on Reddit. Also the reason they have free electric is because the dams china over built are way out in rural areas with little demand. So rather than let it go to waste the farms are built near the dams and get it free.

If you think scrypt asics released over a year ago are going to ROI but current Bitcoin asics are already obsolete you're insane...but then again you believe in litecoin so that's to be expected. Just surprised you are contradicting what litecoins creator said about the chinese farms with free electric controlling the blockchain...but hey facts are to be ignored when you're a bagholder of a dead shitcoin.

Buy an avalon 6 and mine Bitcoin and if you really think LTC has a future use the BTC to buy shitcoin, I mean litecoin. You'll get more LTC than you will with obsolete scrypt miners which aren't even being made anymore..cause scrypt is, well dead.

 Currently have 5 A2 units, 4 of them 110 Megas the other an 88, mining Litecoin.
 Currently have 5 Antminer S5 and a Spondoolies SP20, but just sold one of the S5s (will be shipping it out later today) and working on selling the rest of that gear.

 Investment in the Bitcoin gear (not counting power supplies, which I can recycle to next-gen gear) was about $3600.
 Investment in the Litecoin gear was about $3700, though I had to replace one power supply in one of the A2 Megas which added about $200 for a good Seasonic X1250 unit bringing the total in the Litecoin gear to about $3900.

 I consistantly bring in a little more than 4 Litecoin a day over the last 2 months (appx. $14 at recent pricing) with small variation due to the diff bouncing around a little.
 Bitcoin is somewhat more variable but has been averaging about 4 days to generate 0.1 Bitcoin over the last couple weeks (about $45 at recent pricing) but the last diff increase will drop that about 10%.


 While the KNC Titan is the most efficient Scrypt miner in existance right now, the reliability on those things tends to be VERY problematical - many many reports of cores DYING even when not overclocked.
 I'd definitely go for an A2 unit over a Titan even though the A2 is somewhat less efficient.
 The Alcheminer 256 is almost identical efficiency to the A2, I'd consider getting one of those if the price/MH was comparable or less AFTER including the cost of the power supplies to run the unit.


 There are *2* companies that have announced they are working on next generation Scrypt miners - Innosilicon and Alcheminer.
 The Innosilicon project is quite a bit further along, and while both companies have good records of actually delivering hardware Innosilicon has a better record on that score.

 Technically, SFARDS still has that SF100 dual-miner thing of theirs supposedly available, but it's not actually been buyable (except PERHAPS for large industrial-scale purchaces) for quite a few months now.


 Chinese mining farms do NOT have "free" electric, though most of them seem to have VERY VERY CHEAP electric.
 The hashrate didn't drop because most of the hashpower is on A2 units THAT ARE STILL PROFITABLE EVEN WITH NOT ALL THAT CHEAP ELECTRIC.
 The A2 will still be profitable if you have 3c/KWH or cheaper electric even if the hashrate tripled (it would be break-even at appx. 4x the current hashrate) as long as pricing on Litecoin stays in the post-halfing $3+ range.

 This is a very BAD time to invest in SHA256 ASIC hardware - the probability of ANY of the currently-available gear ever achieving RoI is pretty much zero, unless you have VERY VERY cheap electric and even then it's iffy. I'd WAIT 2-3 months for the next gen gear to start hitting the market on anything SHA256-based.

I think this section would suit better
https://bitcointalk.org/index.php?board=75.0

Additionally, you can check the local sections of bitcointalk (some have dedicated sell/buy threads)

Why don't you try to find a good miner here in the forum in the mining section=?

With 800€ I guess you can buy a KNC scrypt miner. This miner does away with 110 MHS and I guess you can find one at those prices.

no new scrypt asic miners are being made, that should tell you something about the future of scrypt.

Charlie Lee the creator of LTC said after the reward halving when the hashrate didn't drop it was because of Chinese mining farms with free electric. Do you have free electric? If not how will you compete?

All decent scrypt coins left scrypt for GPU friendly algo which keeps the blockchain more distributed and secure. The GPU is also never becomes so obsolete it's worth nothing but a door stop, unlike ASICS, that is unless you have unlimited free electric.

LTC is dead, buy a BTC asic or a GPU. I have an avalon Bitcoin asic which is easy to setup and use, free heat, and if you really think LTC is the way to go mine BTC and use the BTC to buy LTC ( and watch LTC drop and become a bagholder but that's just my opinion based on the facts I'm aware of)

Do you mind elaborating on your setup and what you mine?

That is what I meant. I used to GPU mine litecoin a lot. I stopped mining litecoin and other scrypt coins after the ASIC comes out.

 Odd, I'm making more out of my current Scrypt mining setup than out of my Bitcoin mining setup - with an almost identical investment into both setups.
 I also anticipate making a LOT more over time out of the Scrypt miners, as my Bitcoin gear is starting to get kinda marginal for making ANY profit at all.


 There's a REASON I'm trying to sell off my Bitcoin mining gear - it's the only prayer I have of ever achieving RoI on the stuff. even though it's NEWER gear than the A2's I use on Scrypt.

Scrypt ASIC mining is controlled by small number of miners or manufacturers. They can manipulate the price easily.

Scrypt mining is not profitable. At the moment you get less than 9000 satoshi per day for 1 MH/s. Visiting  some faucets would give much more than that. Even if you buy some cheap hardware the electricity cost will be higher. If you buy something then start with something small and cheap and jut mine for the fun of it.