I have Ordered 16x L3+($462) with 1x 420 and 15x 350 coupons on 10 April.
But few hours later, support told me that the order will be canceled due to coupons issues.(the coupons can only deduct no more than 50% of the product price).
Then i re-order 12x L3+($462) again with 12x 200 coupons.
$462-$200=262 still sweet.
Topic: Launching the Antminer L3+, World's Most Powerful and Efficient Litecoin Miner - page 20. (Read 284891 times)
April 13, 2018, 02:02:25 AM
April 13, 2018, 01:35:00 AM
15GH/s are new miners and they are using 1300w. This is 100% information, my friend is working at bitmain. They will be on sale at the end of summer. L5 is the name...
Well, newbie post and all...15gh at 1300 watts seems high...even for Bitmain..if true..it is all over folks because Bitmain will run them all summer before consumer product
and that would well double the LTC network..thus making this unit the only miners running (by them) and the consumer product shipped by fall...if sold end of summer
then again, newbie post ...15gh is a stretch indeed...but a good 'scare' none the less
(I'd be about 3k behind on the hedge, in previous posts, on getting these last 12 miners from the last 2 sales by Bitmain ... from what I figure (with elec paid)...)
Be dang near impossible IMHO to do 15gh at 1300 watts ..now if the poster MEANT 1.5gh at 1300 watts...that I would see as very likely...Indeed...espeically with the
end of Summer sale..which means we'd get them in say first week of Oct 2018...(kinda/sorta) after Bitmain mined the hell out them in their data hall all Summer...
Indeed, even at 1.5gh at 1300 watts, Bitmain alone could well double the difficulty on LTC...anyway, if the case ...my 11,000mh at 17,600 watts would be toast...
with either 15gh or 1.5gh units....end of Summer could be all she wrote...
(crypto always drama)
brad
April 12, 2018, 07:02:08 PM
Again, to clarify why I got 6 units each from the last 2 price batches of L3+'s on the Bitmain site....(not everyone will have this angle to try this)
Total of 12 Bitmain L3+'s with PSU's etc.
or you could call it "The convuluted bigger miner hedge..that may not work..and just moving the deck chairs around on the Titanic project!"
To clarify why a few miners (that have Bitmain L3+'s that have ROI'd already...providing an income stream and self-employed solo401k)
MAY want to get these Bitmain L3+ units now........
brad
I was thinking this too, buy a small number of these cheap to add to my small production , using coupons and all, with a relatively short term ROI , and "dollar cost average" machines I bought in Jan / Feb ... all which you basically already stated,
but my worry is new Scrypt miners may soon be hitting the market (not the 15TH that someone just mentioned...) but the next GEN of SCRYPT that would ruin the idea of buying more ...
HMMM ... Also I just noticed that BITMAIN accepting USD WIRE, BCH, BTC, and LTC ... when I bought back in FEB they only accepted BCH and USD wire, and some units I bought in JAN could only be bought with BCH ... wonder why the openness to accept more forms of payment now??
April 12, 2018, 05:48:59 PM
Sell your L3+ toasters now that you can get something .... 
New Scrypt miners at 15TH are already plugged in.
Wake up !!
New Scrypt miners at 15TH are already plugged in.
Wake up !!
don't matter if I'm mining till End of Life on the miners I have now ...into the solo401k as self-employed for tax purposes
thou...you could make the point I could run out of miners (doorstops) due to difficulty before I filled up the solo401k (15k) etc
But ..catch is ...must have the self-employed income to do this...damn hard to do this w/o miners (i suppose trading would be the same)
thus my bet to either
1) run out the clock till 'doorstops'
or
2) perhaps float along for a bit.....modestly and fill up the old solo401k (which you can fill up with crypto in the sandbox if it stays in the sandbox)
but your point is well taken on Bitmain and equipment
My theory is..that Bitmain will ANNOUNCE pre-orders for such an improved miner NOW...mine it over the summer and then release it to the public in the fall
after they have run up difficulty again by 30% plus like they did from dec to march on the previous batches of many flavor'd ASIC's they sell
So if my 'guess' works....run the works into the ground by August and mine what I can before all doorstops..if NOT even better...
(actually, being a hobby miner again would be 'soothing' ...)
anyway, again also my equip purchase of bitmain's stuff was a 'hedge" against 4K coin and too much dubious altcoins (that I got equip with)
so a bit of diversification...but IF your point on it, all going off the rails due to new equip by bitmain I THINK I can mine for a bit more and wrap it up
and at worse these last 12 miners were just oranges for oranges (even)...hedging is never a sure thing...it just stops me from crying like a small child
and gives me the illusion that I know what I'm doing....Will be 5 years on Friday 4/13/18 since I signed up to Bitcointalk and got into crypto world
sh*t still clueless....but by all means HODL your crypto if you can...or make a run for the border in my boat if you can't...and again only what you can
afford to lose
brad
(Bitmain: Evil as a leisure activity. Fun for the family! It's like RV'ing down a mountain, out of control, with them driving remotely from China...why are we so stressed in the camper they
wonder? The view is nice, why all the screaming?) (tm Bitmain = It works, till it doesn't, deal with it)
April 12, 2018, 02:31:32 PM
L3+ is probably a good bet if you have $200 coupons.
I do think it's not much longer for the world though.
Had a couple facts collide in my mind last night.
I am now strongly of the opinion that the video that claimed to be about a "Bitmain F3 miner for ethash" was in fact about a 14/16 nm new SCRYPT miner.
1500ish Mhash would be right in the ballpark I'd expect a new L3+ sized miner to be with a node drop from 28nm.
Bitmain putting the L3+ on sale at what is probably "close to cost" looks like their usual "fire sale the remaining stock of the old model, start selling out the Hashnest units, while we replace them with the initial production of a new more-efficient model" routine.
I'm now anticipating that Bitmain will release the "L5" Scrypt miner in 2-3 months, specified at 1550 -0 +5% hashrate using 1000 watts -0 +10% at the wall when used with an APW3+.
Price will be a big question mark - but I'd not bet on MUCH less than $2000 unless Litecoin price drops noticeably between now and July.
It's interesting Bitmain is willing to accept LTC and BTC on the L3+, after many months of insistence on folks using BCH for ANY of their miners.
Either they're desperate to move those last L3+ units, or they're finally getting a clue that "insisting on folks using OUR garbagecoin for miner sales is costing us sales".
I do think it's not much longer for the world though.
Had a couple facts collide in my mind last night.
I am now strongly of the opinion that the video that claimed to be about a "Bitmain F3 miner for ethash" was in fact about a 14/16 nm new SCRYPT miner.
1500ish Mhash would be right in the ballpark I'd expect a new L3+ sized miner to be with a node drop from 28nm.
Bitmain putting the L3+ on sale at what is probably "close to cost" looks like their usual "fire sale the remaining stock of the old model, start selling out the Hashnest units, while we replace them with the initial production of a new more-efficient model" routine.
I'm now anticipating that Bitmain will release the "L5" Scrypt miner in 2-3 months, specified at 1550 -0 +5% hashrate using 1000 watts -0 +10% at the wall when used with an APW3+.
Price will be a big question mark - but I'd not bet on MUCH less than $2000 unless Litecoin price drops noticeably between now and July.
It's interesting Bitmain is willing to accept LTC and BTC on the L3+, after many months of insistence on folks using BCH for ANY of their miners.
Either they're desperate to move those last L3+ units, or they're finally getting a clue that "insisting on folks using OUR garbagecoin for miner sales is costing us sales".
April 12, 2018, 01:22:17 PM
Again, to clarify why I got 6 units each from the last 2 price batches of L3+'s on the Bitmain site....(not everyone will have this angle to try this)
Total of 12 Bitmain L3+'s with PSU's etc.
or you could call it "The convuluted bigger miner hedge..that may not work..and just moving the deck chairs around on the Titanic project!"
To clarify why a few miners (that have Bitmain L3+'s that have ROI'd already...providing an income stream and self-employed solo401k)
MAY want to get these Bitmain L3+ units now........
brad
I was thinking this too, buy a small number of these cheap to add to my small production , using coupons and all, with a relatively short term ROI , and "dollar cost average" machines I bought in Jan / Feb ... all which you basically already stated,
but my worry is new Scrypt miners may soon be hitting the market (not the 15TH that someone just mentioned...) but the next GEN of SCRYPT that would ruin the idea of buying more ...
HMMM ... Also I just noticed that BITMAIN accepting USD WIRE, BCH, BTC, and LTC ... when I bought back in FEB they only accepted BCH and USD wire, and some units I bought in JAN could only be bought with BCH ... wonder why the openness to accept more forms of payment now??
April 12, 2018, 12:15:19 PM
Only main difference I see with this new batch is that they ship starting from the 20th of April instead of 11-20 like the last batch they had, and they raised the price of both the L3+ and the E3 slightly ($462-485 and $1800-1872 respectively). I guess they really want to get rid of their existing L3+ stock and prepare for a potential new Scrypt miner release right now.
I think it is also because litecoin price rose recently.
April 12, 2018, 10:10:31 AM
Only main difference I see with this new batch is that they ship starting from the 20th of April instead of 11-20 like the last batch they had, and they raised the price of both the L3+ and the E3 slightly ($462-485 and $1800-1872 respectively). I guess they really want to get rid of their existing L3+ stock and prepare for a potential new Scrypt miner release right now.
April 12, 2018, 10:03:01 AM
I used my $200 coupons, it covered the shipping cost.
April 12, 2018, 09:46:13 AM
It seems they have removed the L3+ from the website. No more on sale.
It was there earlier today, then sold-out status. But wait, it's back, USD485 ea now.
And they sent me like a zillion $100 coupons lol.
April 12, 2018, 09:04:57 AM
It seems they have removed the L3+ from the website. No more on sale.
It was there earlier today, then sold-out status. But wait, it's back, USD485 ea now.
April 12, 2018, 09:03:12 AM
I just heard unconfirmed rumours that Alibaba and Taobao will shortly be banning the sales of mining hardware through their platforms. Maybe Bitmain just cleared their stock before moving their operation somewhere else.
On another note, I am unable to access bitmains site from any European location I have access to. All traceroutes seem to stop at the Chinese border router of Cogent currently. Can you guys access www.bitmain.com or shop.bitmain.com?
I for one feel lucky I could order some of the $462 L3+
On another note, I am unable to access bitmains site from any European location I have access to. All traceroutes seem to stop at the Chinese border router of Cogent currently. Can you guys access www.bitmain.com or shop.bitmain.com?
I for one feel lucky I could order some of the $462 L3+
Their website works fine. Cheap L3+ is sold out as of now.
April 12, 2018, 08:58:55 AM
I just heard unconfirmed rumours that Alibaba and Taobao will shortly be banning the sales of mining hardware through their platforms. Maybe Bitmain just cleared their stock before moving their operation somewhere else.
On another note, I am unable to access bitmains site from any European location I have access to. All traceroutes seem to stop at the Chinese border router of Cogent currently. Can you guys access www.bitmain.com or shop.bitmain.com?
I for one feel lucky I could order some of the $462 L3+
On another note, I am unable to access bitmains site from any European location I have access to. All traceroutes seem to stop at the Chinese border router of Cogent currently. Can you guys access www.bitmain.com or shop.bitmain.com?
I for one feel lucky I could order some of the $462 L3+
April 12, 2018, 08:47:35 AM
It seems they have removed the L3+ from the website. No more on sale.
April 12, 2018, 05:59:48 AM
Sell your L3+ toasters now that you can get something ....
New Scrypt miners at 15TH are already plugged in.
Wake up !!
New Scrypt miners at 15TH are already plugged in.
Wake up !!
absolute nonsence.
There have never been such huge jumps in the history of two generations of miner.
Total litecoin hashrate is for example "only" aprox. 200TH.
April 12, 2018, 05:21:16 AM
Sell your L3+ toasters now that you can get something ....
New Scrypt miners at 15TH are already plugged in.
Wake up !!
New Scrypt miners at 15TH are already plugged in.
Wake up !!
From 504 Mhs to 15TH. Come on! that's 29761x increase in hashing power per unit.
April 12, 2018, 02:40:46 AM
Sell your L3+ toasters now that you can get something ....
New Scrypt miners at 15TH are already plugged in.
Wake up !!
sounds fuddy u got proof? New Scrypt miners at 15TH are already plugged in.
Wake up !!
April 12, 2018, 02:10:50 AM
Sell your L3+ toasters now that you can get something ....
New Scrypt miners at 15TH are already plugged in.
Wake up !!
New Scrypt miners at 15TH are already plugged in.
Wake up !!
April 12, 2018, 01:36:56 AM
Again, to clarify why I got 6 units each from the last 2 price batches of L3+'s on the Bitmain site....(not everyone will have this angle to try this)
Total of 12 Bitmain L3+'s with PSU's etc.
or you could call it "The convuluted bigger miner hedge..that may not work..and just moving the deck chairs around on the Titanic project!"
To clarify why a few miners (that have Bitmain L3+'s that have ROI'd already...providing an income stream and self-employed solo401k)
MAY want to get these Bitmain L3+ units now....
(dubious as this may seem at first glance)
On my current order of 12 L3+'s ... for all ...I need (with coupons etc and psu's etc and shipping etc)
$205.25 to break even AFTER electric is paid for all of them...this is 50% off for taxes with short term mining (less than a year and state tax) with 25% equip deduction this year.
This is a hopefully 'temp' situation win or fail on IF the price goes sideways or drops on BTC and LTC etc
Starting this month with prev year IRS stuff covered (paid this year...had to account for selling coin at capital gains)
I will mine all my LTC directly to a self-employed set up solo401k so...3k made a month say would be 3k in solo401k no taxes (actsl like equip)
but you can only do that showing self-employed income....(but you can in the solo401k sandbox turn it back into crypto ...but keep it in the sandbox)
Thus it acts like a hedge, and a workaround and allows me to save LTC for the hopeful pump...and get rid of dubious coins to pay expenses at the long-term 25% cap gains
So those PM'ing me...that it won't work....hard to see how it can't (at least starting this month) ASSUMING
with the 12 Bitmain L3+ units on top of my other Bitmain L3+ units that have ROI'd ...if I can keep the income stream going to over this current to fund this solo401k (till full)
at these depressed price for BTC and how LTC price relates to such...maybe I can limp thru the summer, fill up the solo401k and then it is all over....without this hedge not
sure I'd last till August...so this is not a 'common' angle....so keep this in mind...those who want to buy equipment...you may want to HODL...
But again this is a temp hedge on Bitmain products...for a few months till hopefully, we creep back around to 180 usd LTC or some such...
Again, this MIGHT have been incorrect getting these units (12) over the last couple weeks...but if it dumps the altcoins I paid with will dump just as bad as this equip bet
if I can keep it sideways and pump into solo401k that also works for a few months (till full for the year)
and of course, if it goes sideways too long in price and/or craters down to 4k ...all of this above 'hedging' won't matter anyway...
So anyway, Pump I'd be golden, ...sideways (meh! maybe) and dump (we are all doomed)
I would NOT recommend this unless your circumstances are like mine above (retired, current income stream mining, postponing living off flushing alts month to month in hoard)
Again, only do what you can afford to do...If I still had a regular job I'd be living off the mining (no new machines) and the job would be buying cheap coin...
but my angle above (hedge) with the 12 bitmain units and current miners only works with income stream...and if LTC scrypt-pow goes 'stupid' etc...all the alts I hold will too
so again, in my case not a hell of a lot of risk... again only buy what you can afford...of whatever coin/miners/etc
AS to my doubters of this strategy of getting 12 L3+'s at this time...you could very well be correct...and even call it 'speculation' but without this income stream
from mining....damn hard to HODL coin ...EXCEPT in the above manner by funding (temp for a few months) crypto into the solo401k off monthly mining revenue (may 18 onward)
so I am HODL'ing LTC...just funneling it funny with my also dubious alts (also going sideways) to the LTC into a solo401k
then again, this all could be a 'tulip' induced fantasy...
Total of 12 Bitmain L3+'s with PSU's etc.
or you could call it "The convuluted bigger miner hedge..that may not work..and just moving the deck chairs around on the Titanic project!"
To clarify why a few miners (that have Bitmain L3+'s that have ROI'd already...providing an income stream and self-employed solo401k)
MAY want to get these Bitmain L3+ units now....
(dubious as this may seem at first glance)
On my current order of 12 L3+'s ... for all ...I need (with coupons etc and psu's etc and shipping etc)
$205.25 to break even AFTER electric is paid for all of them...this is 50% off for taxes with short term mining (less than a year and state tax) with 25% equip deduction this year.
This is a hopefully 'temp' situation win or fail on IF the price goes sideways or drops on BTC and LTC etc
Starting this month with prev year IRS stuff covered (paid this year...had to account for selling coin at capital gains)
I will mine all my LTC directly to a self-employed set up solo401k so...3k made a month say would be 3k in solo401k no taxes (actsl like equip)
but you can only do that showing self-employed income....(but you can in the solo401k sandbox turn it back into crypto ...but keep it in the sandbox)
Thus it acts like a hedge, and a workaround and allows me to save LTC for the hopeful pump...and get rid of dubious coins to pay expenses at the long-term 25% cap gains
So those PM'ing me...that it won't work....hard to see how it can't (at least starting this month) ASSUMING
with the 12 Bitmain L3+ units on top of my other Bitmain L3+ units that have ROI'd ...if I can keep the income stream going to over this current to fund this solo401k (till full)
at these depressed price for BTC and how LTC price relates to such...maybe I can limp thru the summer, fill up the solo401k and then it is all over....without this hedge not
sure I'd last till August...so this is not a 'common' angle....so keep this in mind...those who want to buy equipment...you may want to HODL...
But again this is a temp hedge on Bitmain products...for a few months till hopefully, we creep back around to 180 usd LTC or some such...
Again, this MIGHT have been incorrect getting these units (12) over the last couple weeks...but if it dumps the altcoins I paid with will dump just as bad as this equip bet
if I can keep it sideways and pump into solo401k that also works for a few months (till full for the year)
and of course, if it goes sideways too long in price and/or craters down to 4k ...all of this above 'hedging' won't matter anyway...
So anyway, Pump I'd be golden, ...sideways (meh! maybe) and dump (we are all doomed)
I would NOT recommend this unless your circumstances are like mine above (retired, current income stream mining, postponing living off flushing alts month to month in hoard)
Again, only do what you can afford to do...If I still had a regular job I'd be living off the mining (no new machines) and the job would be buying cheap coin...
but my angle above (hedge) with the 12 bitmain units and current miners only works with income stream...and if LTC scrypt-pow goes 'stupid' etc...all the alts I hold will too
so again, in my case not a hell of a lot of risk... again only buy what you can afford...of whatever coin/miners/etc
AS to my doubters of this strategy of getting 12 L3+'s at this time...you could very well be correct...and even call it 'speculation' but without this income stream
from mining....damn hard to HODL coin ...EXCEPT in the above manner by funding (temp for a few months) crypto into the solo401k off monthly mining revenue (may 18 onward)
so I am HODL'ing LTC...just funneling it funny with my also dubious alts (also going sideways) to the LTC into a solo401k
then again, this all could be a 'tulip' induced fantasy...
This is very tempting to do... of course this is heavily reliant on the future of Litecoin but it does look pretty good if this market will turn around..I've been looking for ways to get rid of my $200 coupons and it looks like I've found a decent way. Shoot this wouldn't be a bad way to get rid of all of my smaller coupons, buy miners and then just sell them for market price on eBay.
Remember! I am at a point where paying off expenses for mining and tax man with less than 1 year and a day coin...(40% if less than a year and 10% to the state)...it is likely
high ..but how I am doing such...ONCE the tax man is caught up and some dubious alt coins to do this also for equip end and of course, the dubious alt coins will PAY for these 12 miners...
I plan to MINE ALL MY HASH directly into a self-employed solo401k on the short term (until maybe price comes back) till full (prob my limit this year is 15k)
thus if I mine 3k a month say...and put 3k into the self-employed solo401k THERE ARE NO TAXES...ACTS LIKE MINING EQUIP FOR TAX PURPOSES..if you dump ALL OF IT IN..
will do this as a hedge and move over 1 yr old dubious alt coins for expenses and electric and to live on (retired) (15% tax rate and 10% for state) max would be 25% Cap Gains.
Thus, can accumulate some LTC on this sideways price as a hedge for a couple months till hopefully LTC price recovers or pumps....get rid of some dubious altcoins
at low tax rate...(if the price dumps won't matter I got equipment) and with a self-employed solo401k ANY $$ put in tax-free I can convert back to LTC (at least till
I hit my suspected 15k limit) as long as I move and play with the crypto buy and sell in the self-employed solo401k sandbox....
This was a 'short-term' hedge to get over the sideways price of LTC with these 12 L3+'s I got (6 last week 6 at a lower price this week) ...so the 'hedge' is mining
into the self-employed solo401k ...getting tax advantages and crossing fingers stuff stabilizes at a higher price after USA Taxes are done April 17th, I think it is this year.
So it is more than a bit specific on getting these Bitmain L3+ units with already ROI'd the equipment and the above games...this likely won't work unless you have most
of the stuff in play above...the real bet is....will difficulty go sideways for a bit when the price maybe goes up to a more reasonable area ...
(what am I thinking...that ain't gonna happen, Bitmain will be selling L3+'s in lots of FIVE for $111 USD next week....my timing is likely wrong)
anyway, that's my bet 'balls up and stupid though it may be' Only spend what you can afford to lose ....and be aware 'eventually' we will ALL get dumped out of
mining scrypt-pow and LTC .....there will come a point where you'll go a 'few miners too far' at the wrong time and BLAMO...hobby miner again...
(actually, would be 'soothing' to be a 'hobby miner' again...no drama...probably why my 'feeble mind' is taking this bet....let the madness end!)
damn losing it ....getting 12 Bitmain Toasters will do that to a fella
brad
April 11, 2018, 11:48:25 PM
Again, to clarify why I got 6 units each from the last 2 price batches of L3+'s on the Bitmain site....(not everyone will have this angle to try this)
Total of 12 Bitmain L3+'s with PSU's etc.
or you could call it "The convuluted bigger miner hedge..that may not work..and just moving the deck chairs around on the Titanic project!"
To clarify why a few miners (that have Bitmain L3+'s that have ROI'd already...providing an income stream and self-employed solo401k)
MAY want to get these Bitmain L3+ units now....
(dubious as this may seem at first glance)
On my current order of 12 L3+'s ... for all ...I need (with coupons etc and psu's etc and shipping etc)
$205.25 to break even AFTER electric is paid for all of them...this is 50% off for taxes with short term mining (less than a year and state tax) with 25% equip deduction this year.
This is a hopefully 'temp' situation win or fail on IF the price goes sideways or drops on BTC and LTC etc
Starting this month with prev year IRS stuff covered (paid this year...had to account for selling coin at capital gains)
I will mine all my LTC directly to a self-employed set up solo401k so...3k made a month say would be 3k in solo401k no taxes (actsl like equip)
but you can only do that showing self-employed income....(but you can in the solo401k sandbox turn it back into crypto ...but keep it in the sandbox)
Thus it acts like a hedge, and a workaround and allows me to save LTC for the hopeful pump...and get rid of dubious coins to pay expenses at the long-term 25% cap gains
So those PM'ing me...that it won't work....hard to see how it can't (at least starting this month) ASSUMING
with the 12 Bitmain L3+ units on top of my other Bitmain L3+ units that have ROI'd ...if I can keep the income stream going to over this current to fund this solo401k (till full)
at these depressed price for BTC and how LTC price relates to such...maybe I can limp thru the summer, fill up the solo401k and then it is all over....without this hedge not
sure I'd last till August...so this is not a 'common' angle....so keep this in mind...those who want to buy equipment...you may want to HODL...
But again this is a temp hedge on Bitmain products...for a few months till hopefully, we creep back around to 180 usd LTC or some such...
Again, this MIGHT have been incorrect getting these units (12) over the last couple weeks...but if it dumps the altcoins I paid with will dump just as bad as this equip bet
if I can keep it sideways and pump into solo401k that also works for a few months (till full for the year)
and of course, if it goes sideways too long in price and/or craters down to 4k ...all of this above 'hedging' won't matter anyway...
So anyway, Pump I'd be golden, ...sideways (meh! maybe) and dump (we are all doomed)
I would NOT recommend this unless your circumstances are like mine above (retired, current income stream mining, postponing living off flushing alts month to month in hoard)
Again, only do what you can afford to do...If I still had a regular job I'd be living off the mining (no new machines) and the job would be buying cheap coin...
but my angle above (hedge) with the 12 bitmain units and current miners only works with income stream...and if LTC scrypt-pow goes 'stupid' etc...all the alts I hold will too
so again, in my case not a hell of a lot of risk... again only buy what you can afford...of whatever coin/miners/etc
AS to my doubters of this strategy of getting 12 L3+'s at this time...you could very well be correct...and even call it 'speculation' but without this income stream
from mining....damn hard to HODL coin ...EXCEPT in the above manner by funding (temp for a few months) crypto into the solo401k off monthly mining revenue (may 18 onward)
so I am HODL'ing LTC...just funneling it funny with my also dubious alts (also going sideways) to the LTC into a solo401k
then again, this all could be a 'tulip' induced fantasy...
Total of 12 Bitmain L3+'s with PSU's etc.
or you could call it "The convuluted bigger miner hedge..that may not work..and just moving the deck chairs around on the Titanic project!"
To clarify why a few miners (that have Bitmain L3+'s that have ROI'd already...providing an income stream and self-employed solo401k)
MAY want to get these Bitmain L3+ units now....
(dubious as this may seem at first glance)
On my current order of 12 L3+'s ... for all ...I need (with coupons etc and psu's etc and shipping etc)
$205.25 to break even AFTER electric is paid for all of them...this is 50% off for taxes with short term mining (less than a year and state tax) with 25% equip deduction this year.
This is a hopefully 'temp' situation win or fail on IF the price goes sideways or drops on BTC and LTC etc
Starting this month with prev year IRS stuff covered (paid this year...had to account for selling coin at capital gains)
I will mine all my LTC directly to a self-employed set up solo401k so...3k made a month say would be 3k in solo401k no taxes (actsl like equip)
but you can only do that showing self-employed income....(but you can in the solo401k sandbox turn it back into crypto ...but keep it in the sandbox)
Thus it acts like a hedge, and a workaround and allows me to save LTC for the hopeful pump...and get rid of dubious coins to pay expenses at the long-term 25% cap gains
So those PM'ing me...that it won't work....hard to see how it can't (at least starting this month) ASSUMING
with the 12 Bitmain L3+ units on top of my other Bitmain L3+ units that have ROI'd ...if I can keep the income stream going to over this current to fund this solo401k (till full)
at these depressed price for BTC and how LTC price relates to such...maybe I can limp thru the summer, fill up the solo401k and then it is all over....without this hedge not
sure I'd last till August...so this is not a 'common' angle....so keep this in mind...those who want to buy equipment...you may want to HODL...
But again this is a temp hedge on Bitmain products...for a few months till hopefully, we creep back around to 180 usd LTC or some such...
Again, this MIGHT have been incorrect getting these units (12) over the last couple weeks...but if it dumps the altcoins I paid with will dump just as bad as this equip bet
if I can keep it sideways and pump into solo401k that also works for a few months (till full for the year)
and of course, if it goes sideways too long in price and/or craters down to 4k ...all of this above 'hedging' won't matter anyway...
So anyway, Pump I'd be golden, ...sideways (meh! maybe) and dump (we are all doomed)
I would NOT recommend this unless your circumstances are like mine above (retired, current income stream mining, postponing living off flushing alts month to month in hoard)
Again, only do what you can afford to do...If I still had a regular job I'd be living off the mining (no new machines) and the job would be buying cheap coin...
but my angle above (hedge) with the 12 bitmain units and current miners only works with income stream...and if LTC scrypt-pow goes 'stupid' etc...all the alts I hold will too
so again, in my case not a hell of a lot of risk... again only buy what you can afford...of whatever coin/miners/etc
AS to my doubters of this strategy of getting 12 L3+'s at this time...you could very well be correct...and even call it 'speculation' but without this income stream
from mining....damn hard to HODL coin ...EXCEPT in the above manner by funding (temp for a few months) crypto into the solo401k off monthly mining revenue (may 18 onward)
so I am HODL'ing LTC...just funneling it funny with my also dubious alts (also going sideways) to the LTC into a solo401k
then again, this all could be a 'tulip' induced fantasy...
This is very tempting to do... of course this is heavily reliant on the future of Litecoin but it does look pretty good if this market will turn around..I've been looking for ways to get rid of my $200 coupons and it looks like I've found a decent way. Shoot this wouldn't be a bad way to get rid of all of my smaller coupons, buy miners and then just sell them for market price on eBay.
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