Topic: Launching the Antminer L3+, World's Most Powerful and Efficient Litecoin Miner - page 12. (Read 284891 times)

Can you do the calculations on if they bought BTC at $18,000.00 and held it versus buying an S9 for $2200.00 and mining BTC all the way down? Cuz I bought S9's for $1500-$2200 and mined and sold BTC all the way down. I NEVER held BTC because I KNEW it was way overpriced. My machines paid for themselves in no more than 2-3 months and I didn't lose any $ on BTC. So there might be some fallacies in your argument.

Did u check the price of Litecoin when u purchase your machines and the price of litecoin when u have broken even on your machine?

Because in general, the coin price has gotten alot more gain than the amount earned from mining. The coin price has probably risen a few times more lol. The worst is ether. U mine for 6 months to a year and break even but heck, the coin price risen more than 10 times in that period lol. Holding makes alot more. Ether was around 20 bucks in early 2017 if i remember right.

For example, if u bought say a bitcoin machine 2 months back, u would have gotten about a 16% return by now. But, if u just bought bitcoin at 5k+ and 6k+, an avg of around 6k, at current 8.4k price, u would have gotten a 40% return from holding. Thats 24% more. With this excess, u can buy all those mining purchase and have 24% extra money lol. And if price stagnates here, I reckon the ever rising mining difficulty will rise so much that the profit per month from mining will be very little anyways. And then the equipment price could go down, leading to increase in sales and huge increase in mining difficulty,etc.

I keep telling myself the following fable: It goes like this: I retired 1/14/18 as my last day and 1/18/18 my official out the door. I currently am 63 years old. I had/have 3 choices

1) keep working at my suburban ghetto lifestyle 2) retire at same lifestyle with crypto till full retirement at 66 and stall all benefits till then 3) use my traditional lack of debt and traditional funds to do the same

Thus, IF all that crypto does for me is allow me to stall 3 years till full retirement using my traditional funds and social security it is win....

(or so I delude myself with) There is a fair chance I will be dead within the next 30 years. Thus if I don't man up and take a risk now...when?

So currently mining is probably kaput with the L3+'s by June 1st at this rate or so....kinda/sorta...so I will skim the alt hoard next to get by....but to say all is NOT going according to plan is an understatement

indeed...it is mt gox and BTC dump even OTC in such a manner dumping about 128 million BTC a month has to hurt (if I am reading chart link below correctly)

mt. gox watch

https://www.cryptoground.com/mtgox-cold-wallet-monitor/

So...if it is a 'digestion problem' of BTC mt. gox dumps that effect all coins, including LTC, mining of any sort but ASIC makers data halls (equip at cost and low elec)

may be the only game in town for BTC and LTC at least...back to boutique ASIC's and hobby miners I guess.....

Anyway, L3+ is now at 500mh and 800 watts at $136 LTC is 56c a day...thus with ALL ASIC's Of ANY FLAVOR..... anyone less than and equipment mnfg may be in real trouble mining no matter what the

electric/hosting costs by the end of the year....mt. gox trustees still have 1.4 billion dollars in BTC to move...or about $215 million usd of btc, a month, to move if they want to wrap up the mt gox liquidation

by the end of the year....

oh well the L3+'s will make a nice ASIC wall....in the attic I guess.....good to have goals

I sold out of nearly all my holdings in late 2017 and am currently in the re-accumulation phase.  I'm holding what I mine and am even buying additional chunks.  Goal is to cost average back into my initial position or more by the end of 2018.  I envision we will see 2-3x rise off the bottoms going into the 2019 halving.  Just not sure if that means we're going from 30-90, 50-150, 150-450, etc.  If my theory of coming back 2-3x off the bottoms is correct, buying or holding here would be ok as long as we don't go much below 50-75.  Of course, I really have no idea what I'm talking about so don't actually follow what I'm doing.

Is it worth buying L3 + now? The price is right! Perhaps this indicates the imminent launch of a new more powerful miner for Scrypt

I see no evidence that the L5 is mining away in *large* quantities - note that the L3 and L3++ are still VERY profitable right now if you have low electric cost - but I'd bet Bitmain has at least some engineering test units working and probably have some early production units starting to replace their internal L3 usage, possibly even one full batch worth of such.
I'm still of the opinion that the current pricing on the L3 represents "fire sale old production before the new model is released" - even though that pricing really should not be as high as it is given currently profitablilty levels.

They're going to run into the "limit of production capacity available from TSMC" issue on an L5 though, since it's certainly not 28nm (where plenty of excess capacity exists) - though slowing sales of the S9/S9i should free up some capacity for L5 production.

There is also the possibility that they're going with Samsung for this round of Scrypt miner, since Samsung seems to still have some excess capacity despite Nvidia using Samsung to make a couple of their low-end GPU models.

yeah....but I 'suspect' that if I sold my hoard of btc and ltc and used it for 'dubious women/travel/jet setting (whatever that is) and parties' I have been told (I don't have a life) that this very well

may 'overcome' the 'angst' of BTC and ALT's price drop...ie make it 'irrelevant' because you are out....All your crypto is sold.  I have no way to confirm this 'theory' in that being 'boring' allowed me to HODL

thus no idea WTF  they are talking about as an "improvement' if I sell btc or alts....on the other hand I have been told that when talking to 'exotic dancers' about  your BTC hoard and Alts

they become 'very tech' savvy...who'd a thunk it? Wonder what the connection is to that tech ..yeah, I'll probably HODL, if there was a time to 'whine' this is it....

Taj, u ever thought of running a hosting facility in your area? Lol.

Yep, litecoin price doesnt increase but difficulty keeps increasing since bitmain sells cheap miners. If they really unveil a L4+ later, that will be the biggest kick in the arse lol.  And if litecoin price increase, cheap miners with quick delivery means the difficulty will increase again really quickly....this is why I didnt double down back then. The overcapacity is huge.

Calm down bro.........we hodled through it before, we'll hodl through it again!

I resemble your pain....got 6 L3+'s about 6 weeks ago...thou....with the all the alt crypto I'm turning over to usd at least I can point to the IRS and say I'm a miner....see the pretty 6 L3+'s

I added to my hoard of miners for 2018!....god help me, I don't want the IRS to think I'm trading crypto...they really, really, hate those guys!

an't much, but 'self-delusion' is all I have left as I HODL.....(reality bites!) I should have someone start a pool for when I crack and sell it all.....ack!

FML

brad

So.........I just got my first lot of 20 L3++

It seems that everyone was right. The L3 "++" is just an overclocked L3+........literally no difference in efficiency.

Bamboozled again!

Just did the calcs at $130 LTC for my data hall use....

43c per day after elec/rent on L3+

hardly, encouraging in that 'supposedly' these are the best a consumer can get (can't believe the prices Bitmain still wants....for these)

oh well, it was fun while it lasted......

(now do I hold my BTC and LTC and alts or do I panic sell like a 12-year-old child....decisions, decisions......)

FML

brad

By "used" we are referring to Bitmain using them just off the assembly line. . They call it "testing". That has never been denied.

It's made in china, so yes. You can build a car for that much money.

One cant consider something factual without hard evidence. I am not saying they are selling used equipment. I am saying they have to receive huge miner orders that they placed before hand and sell.
When they sell miners at 450 usd and with a coupon, it cost like 250 usd, do they really make profit? lol

Ding Ding Ding!! Sandal Hat....people have been telling you this in here for weeks now. Why can't you seem to comprehend this? It's really not that hard to see this is what's going on and has been.

perhaps but fire sales and selling off used equipment and restocking their own farm with new next gen stuff, while raking in pre-order cash and driving up the difficuly, is bitmains specialty..

they have been doing that since the s3s..

Does anyone else have the idea that bitmain perhaps have to sell because they ordered too much from suppliers in advance? I got that idea from this
https://blog.sia.tech/the-state-of-cryptocurrency-mining-538004a37f9b
It is possible to make cheap miners if tons of orders are made in advance?

You are probably right.  Its been awhile now since the first sale of the L3s were live.  History shows us that they should be coming out with a new miner now as theyve probably been working on the tech for awhile.  When they come out no one knows, but you can be sure they are or will be using themselves and in the hands of their friends first.