Topic: LTC Mining difficulty? (Read 945 times)
One main reason why I am switching my whole farm over to 220v so that I can slim down my bottom line
Thanks for the input
I have a rig mining at 1700khs right now, which is ok, but i always try to squeeze max out of it. If i'm looking at 9-12 months ROI - that's fine, of course noone knows if the price go up or down... I agree that it's a complete gamble... still undecided, im pretty sure i will get the investment back, it's just a matter of time, and in some cases the price might go up and i might win, on the other hand i can burn.. we'll see..
I have a rig mining at 1700khs right now, which is ok, but i always try to squeeze max out of it. If i'm looking at 9-12 months ROI - that's fine, of course noone knows if the price go up or down... I agree that it's a complete gamble... still undecided, im pretty sure i will get the investment back, it's just a matter of time, and in some cases the price might go up and i might win, on the other hand i can burn.. we'll see..
I'm considering taking a loan for 6,6k and building 3x ltc mining rigs which would total 9,000mhs, at current diff it looks like piece of cake, but need to know more about difficulty increase before i move forward.
I can't dissuade you from taking a loan out to get into mining enough. LTC is seeing the total network hash from GPU miners increase very quickly and there's also zero guarantee that the price of LTC will stay anywhere near where it is (It only recently went above $1 on the rumor of it being traded on MtGox)
As others have said, if you want to get into mining you are safest in not viewing it in a "get rich quick" or 1-3 month ROI type of deal. 9-12 months is a much more conservative schedule, and if things get tighter it may be longer than that. Keep in mind, also, that your electricity costs will be very real and noticeably different with 9k MHs running 24 hours a day. If you're not converting your LTC to fiat to pay that off, you'll be incurring costs along the way in addition to the loan interest.
That said, value could continue to grow for BTC, BTC/LTC, or LTC independently. It could also go to nothing.
Full Disclosure: I have GPU miners working right now and would make relatively less if you start mining! I only paid disposable or investment money, though, that I could afford to lose without a sweat. A loan is a much more risky decision.
I really don't recommend you take out a loan to mine. It's likely the 'good ole days' of mining are over. It'll likely be all razor-thin margins in the future.
Yes, I could be wrong. BTC/LTC could conceivably go up 500% or what have you. But I certainly would not take a loan for this, way too speculative.
For an example LTC went from a difficulty of about 85 to a difficulty of 500 within about 30 days. So you are only getting 1/5 of the rewards of what you would only a month ago. This will likely continue at this rate.
And a whole new massive big wave of ASICS are coming which will trickle into LTC 'cuz all the BTC GPU miners will migrate.
Just my .02's. At least just build 1 rig and see how it goes from there. Don't take a loan unless you are looking at it as pretty much a gamble. If you are a nerd like me mine a bit, just for fun...but if you are looking to make money, just buy coins during the weekly dip, it's a much better investment.
Yes, I could be wrong. BTC/LTC could conceivably go up 500% or what have you. But I certainly would not take a loan for this, way too speculative.
For an example LTC went from a difficulty of about 85 to a difficulty of 500 within about 30 days. So you are only getting 1/5 of the rewards of what you would only a month ago. This will likely continue at this rate.
And a whole new massive big wave of ASICS are coming which will trickle into LTC 'cuz all the BTC GPU miners will migrate.
Just my .02's. At least just build 1 rig and see how it goes from there. Don't take a loan unless you are looking at it as pretty much a gamble. If you are a nerd like me mine a bit, just for fun...but if you are looking to make money, just buy coins during the weekly dip, it's a much better investment.
Does anyone have any ideas if LTC diff will spike as BTC? Are there any graphs i can see the assumed difficulty? for like next 3-6months?
Sounds like a job for organofcorti and his crystal ball
For short time estimates: http://allchains.info/
By the way: It's all about the price (of LTC) in a couple of month. If it's at $35 mining with difficulty 10.000 would still be profitable.
Hey,
Does anyone have any ideas if LTC diff will spike as BTC? Are there any graphs i can see the assumed difficulty? for like next 3-6months?
I'm under the assumption that BTC diff goes up 15% every 2 weeks, what about LTC?
I'm considering taking a loan for 6,6k and building 3x ltc mining rigs which would total 9,000mhs, at current diff it looks like piece of cake, but need to know more about difficulty increase before i move forward.
Thanks
Does anyone have any ideas if LTC diff will spike as BTC? Are there any graphs i can see the assumed difficulty? for like next 3-6months?
I'm under the assumption that BTC diff goes up 15% every 2 weeks, what about LTC?
I'm considering taking a loan for 6,6k and building 3x ltc mining rigs which would total 9,000mhs, at current diff it looks like piece of cake, but need to know more about difficulty increase before i move forward.
Thanks
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