Topic: Launching the Antminer L3+, World's Most Powerful and Efficient Litecoin Miner - page 3. (Read 284891 times)

In my case...it would still have likely made sense..but it would have hurt more...in that 1) the $$ got me over the income hook of 32k or some such...no way would I likely mine that

much this year to do so.... 2) I have an extra 5k set aside over and above if I did NOT get to 32K..in a set aside for the tax man, month by month, .in other words, as I mined this year, I

kept up with what I owe the tax man..because

IF mining stopped (as it did) being retired I would not have had any $$$ to catch up with the tax man but for selling crypto w/capital gains...that seemed silly...so if I make the 32k

more or less I likely free up another 5k set aside for making the 32k or some such as a reward 3) my elec costs were 14c kWh and are 14c kWh now at the house with my home

Summer rates...as you can see, that pig won't fly 4) again over the 32k or some such allows me to take my self-employed health insurances  (like a farmer) and take it away from

my gross income like electric and equipment asic purchases ..that is 12.8k for me at my age of 62 silver plan and single 5) any extra $$$ of any amount gross after all the above

I can pull off I also can put in the solo401k and take off my gross income

So, again, in my case before I was able to sell the equipment...LIKELY...I MIGHT have made the above cutoff of, again I think it was, 32k ...but it was at best 50/50.

So me, really yeah, probably would have had to eat 200 an L3+ with PSU at say $75 bitmain used for a total of $275 say an L3+

at 200 bucks an L3+ ONLY ...I am not as sure...probably would have still had to do it on the above 'chance' I could pull it off and free up the above options

hopefully, your electric is much less than mine...again, just the 14c kWh means I was frigging doomed....


good luck

brad

Would you have sold yours at $200 + boot leg PSU's you had? Or drive a few hours, pick them up, and let them sit in basement until they turn back on again in the future. (Serious since i've been wondering). I figure i could sell them for 250 on ebay but that's a hastle, especially with breaker boards and the like. Oh, and if you can take a loss now you could then have a carry over lost against future gains in years to come. That 1800w PSU has me wondering/thinking. I bet its the s11s but... we will see..

July 1st I was offered $325 with Bitmain PSU's and took it ASAP, was 14 L3+'s and (4) L3's at 125 each, with no PSU's and 2 D3's with bitmain PSU's at $150 each.

IF BTC and Crypto pump to the moon again, I will be so thrilled with what I will make from altcoin and BTC hoard, I will likely be fine with not being able to turn them on again.

Also for those, self-employed (ie making income from mining) there are tax, solo401k and in my case retired self-insured benifits, if I can creep over 32k in income (again,

selling crypto does not count, that is capital gains, we are talking generating self-employed income). My CPA told me I need to get over 32k or so for me to take advantage

of all the above. The above equipment sale (cash) comes under Income, which puts me over the hump.

(equip deduction off gross income, solo401k, amount to be determined off gross income,self employed health insurance also off gross, electric rent/power data hall deduct)

So as you can see, with the above stuff acting like equipment and electric and being taken off gross income, it may make sense for some of you to sell like me...if you make

enough as a self-employed business  (in my case only source of income stream now retired..that or selling crypto which, unfortunately does not count like mining)

more than one way to 'skin a Bitcoin'....anyway, for those it applies to above or others talk to your CPA ...this is common self-employed business stuff in the USA off NON-

investment sales like stocks/bonds or BTC hoard etc...only money you can generate from your self-employment, in my case crypto mining (LTC, DASH, etc)

good luck

brad

Shut off half my machines. My contract for data hall hosting terminates at end of july. I figure i'll box units up at that point and wait for a future price pump to try and sell then. Even the S7s made money this last bull run. I've had offers to buy them at $200 and I just can't justify that price. If I run them, at current prices, it's a guaranteed loss of $x / month. Unfortunately, i sell coins to buy hosting so i wouldn't break even. At least once I take these home again, if prices increase, I can flip a switch to turn them on. If prices decrease; shut them back off. A lot easier than contacting remote hosting. I didn't expect this outcome last year but this is the outcome received. My units lasted just shy of a year. Talk about fast depreciation. LOL. Honestly, I'm amazed at how well the S9's are performing. I saw bitmain has that new 1800w PSU. So we know something's coming soon, will be interesting to see what it actually is...

Fare Ye Well Amigo. You'll be back. This isn't the final curtain.

Brad, it's been a fun journey.  I remember the days of KNC way back. I've always loved your posts and wish you the best. I stopped mining in 2015 after I nearly fried the circuits in my house. Wife was a bit nervous, so figured it'd be best to sell my gear and just code.

Take care, buddy.

I have never tried but think the A3, D3 and L3+ IO boards are the same on all units maybe someone can confirm?
As for the fan, which one does not work Fan1 or Fan2 or both? Each has its own drive circuit just below the plug connection a
simple component might be burned out (fan might have crapped out and blew the circuit), see if there is any burn on the surface
mounted components there, does the fan spin easily or grind a bit when spinning. You can grab on on Ebay another IO board
also fairly cheap now.

I know you guys are talking economics, but I'm still wondering if anyone has had any issues with the Fan being at 0 RPM. I'm assuming it's the controller board. Bitmain wants me to ship the whole machine back, but at these current LTC prices, not really worth the shipping fee. A new controller board from Bitmain is $60. I've tried swapping out with different fans, but no luck. I only have one L3+, so I can't swap out with a different controller board. I do have an A3 that I've switched off. Maybe I can use that controller board? Thanks.

I guess this is hypothetically how it could work:

1. Create new ASIC hardware and mine with it until ROI, 1st profit. (gradually turning on units over time)
2. Slowly push market prices upwards to create fast ROI on new ASIC hardware offered to make it look like a good purchase.
3. Sell new ASIC hardware and make a 2nd profit.
4. Sell mined coins from new ASIC hardware into the rising market to recoup + money spent to create rise in market, 3rd profit.
5. Re-tune the new ASIC hardware for better hashing rate and resell for 4th profit.

Seems like a Win/Win if you are a ASIC hardware supplier!

For those PM'ing me...and also to show what I got for my stuff...I sold all my Bitmain Stuff. I'm out of LTC mining as of today.

Just for those wondering on price, this is what I got.

14 Bitmain L3+'s at $250 each and $75 bucks for a total of $325 per unit with used (most more than 1 year) with Bitmain PSU's, for $4,450.00 USD.

  4 Bitmain  L3's at $125 without any PSU's of any kind, for $500.00 USD.

  2 Bitmain D3's x11 miners at $150 each with Bitmain PSU's, for $300.00 USD.

Total $5,350.00 USD.

All above went to buyer(s) in the same Data Hall I'm at. Thus no shipping, and no hassle. Just a transfer or payment addresses.

Anyway, I'm out.

I still think Bitmain may spring the 'supposed' 3x the hash miner out this Summer, (being evil and all) we will see. If they do, I doubt I will play 'pre-order 4 months

in advance for fall delivery game, I'd guess they would try again. I'm now in full HODL mode, with no mining. Ack!

So, seems I'm out of BTC and LTC mining, for the first time since Oct 18th, 2013..feels weird...

but satisfied with the ROI from then till now and the price I got for the above...so can't really complain.

Anyway, for your info on what I managed to get for the above units, in case some on here are also thinking about selling such.

As always good luck and pray to the ASIC gods for a pump of all crypto

Will continue to 'lurk' this thread (sorry, for all that are now in 'dismay' on that!)

later

brad

Bitmain is 100% doing this before each miner release. Remember they made 4 BILLION profit last year. The market cap of Litecoin is 4 Billion...they can move these markets at will with their pinky finger.

look at Bytom price when B3 was released and on siacoin price when A3 was released. i think they pumped the coin before release to sell their machines for a premium

Why would a new miner cause the price to go up?

I guess we will see the price start to rise up again now if Bitmain is going to release a new gen scrypt miner later this month.
LTC is up the last few days around 7%, it will need to be pumped much higher to sell the new miners when released, maybe
delayed to end of summer like August?

Cloud Mining is a scam and a rippoff. Take this crap somewhere else.

Hashrate didnt go up greatly despite the litecoin falling alot. I assume there are still no new machines being created for litecoin and the way litecoin is these days, I doubt anyone will bother. Other coins are just better.

@Tien Thanh - PACMIC (even v5) is long passed.  Look at the Hash or Exchange nodes instead if you want to spend coin at Hashnest.

What is a Payout Accelerated Cloud Mining Contract (PACMiC)?

The PACMiC is a new value-added cloud mining service product from Hashnest. The PACMiC is an electronic contract structured in a new way. BITMAIN will pay all the maintaining cost of the mining rigs, and all the mining revenue will be used to pay back the PACMiC owners. When the principal is not fully paid back, it will share profit with buyers. When the principal is paid back, the mining rigs will belong to BITMAIN. Both principal and profit payments will be made to the contract holder based on the mining revenues of AntPool. Since PACMiC will not bear the maintenance cost, so the payout is accelerated.



Purchasing a PACMiC

In the initial sales open day, one PACMiC will be sold for one (1) bitcoin. Each PACMiC represents six terahash of hashing power. The contract will become active immediately upon receipt of full payment.



Computing principal and profit of an PACMiC

As soon as the PACMiC is activated, payouts will be made through Hashnest in accordance with the mining revenues generated by AntPool’s PPLNS payout method. Profit payments will be made beginning with the first block found by AntPool after the contract’s activation. From the first block until the contract’s expiry, profit will be accumulated every second.

st6op being such a negative person, u can buy L3 at hashnest, rate is 0.07 usd per kwh, so with the pricve now going up, u will get it back, better then hold LTC, i dont hold LTC, i hold only neos, and i ahve problem bcs neos are doing more then LTC + mining plus hashrate going up, thats the problem, only plus i see, but if things turn south, neo will drop more then LTC...so dont be pitty, i got already 4100Mhz, and doing preety good, still neo does better.

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So, it is just marketing lol.
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I have a friend owns a data hall that experimented with the L3++ software on his L3+ (one) and it worked fine... he has not done anymore as of yet.

probably the voltage mod (free) further up in the thread is more practical with the same result as what my friend ' tweaked', as mentioned above.

Me, at 14c kWh...don't matter much ...I need like $115 LTC at this difficulty rate (unlikely with such a price pump, with OFF bitmain L3+'s piling back in.


14c kWh is just a way, way, step too far, at this point in time/even the $115 LTC price/ and difficulty....(screwed, I am)

Good luck to those with less than 8c kWh electric. Me, 'kaput'