Hi, I went in with their offer for both S9 and L3+. I may consider join in with the PandaMiner B3 Plus when they have it back.
I think it's a great offer. And I like the transparency of the company.
I don't think Bitcoin will go back to $1000, I think more $5000 next stop. With big ups and downs. LTC will follow his path.
Still there is other risks, but hey!! No risk no gain.
And never invest money you cant afford to loose.
Topic: Mining, what are the odds of going wrong here. (Read 442 times)
Narko, thanks for reply. Can you explain a little bit more?
It's hard to make profits with this config I think mate
Hello guys,
I am very new to mining, hence I will ask following questions. They will probably sound noobish. But hey, why not ask greatest community in the world for support.
I have several options to consider and I don't know which one to choose. Recently I started to consider if I should join giga-watt WTT token crowd sale and invest some money in mining. Their website appeared nice to me and whole return on investment structure seemed to be straight forward(if you see any underwater difficulties let me know). So here are following options:
1. Buying 880 watt tokens to host miner(880$) gives you an access to mine at 0.033$ kWh+ ASIC L3+ miner(1550$) from giga watt. Total investment of 2430$. With return of 10,577.89$ a year roughly. As what they advertise.
2. Buying 1500 watt tokens to host miner(1500$) gives you an access to mine at 0.033$ kWh + ASIC S9 miner(1600$) from giga watt. Total investment of 3100$. With potential return of 4,628.51$. As what they advertise.
3. Invest all these money in a rig made in my home land let's say 3200$ roughly for a 6X RX 470 4GB GPU MINER - Z270X ULTRA 150-180 MH/s connect it to my PC and mine ETH at my home with electricity cost of 18p kWh.
I am not 100% sure but I think giga-watt themselves are quite limited in choices of what they can mine i think currently they support mining of BTC, XMR, LTC and ETH. But they don't have Panda miners in stock to mine ETH.
So my main concern is that I can't exactly figure out which one of those methods will be more efficient and what are the risks involved. And of course which method would you choose.
In this particular moment of time returns are fucking amazing, but i like to be pessimistic and take below values(pessimistic) more seriously then the ones below current retes:
Time Frame LTC Coins BTC (LTC/BTC at 0.01076000) USD (BTC at $2,920.02) Power Cost (in USD) Pool Fees (in USD) Profit (in USD)
Hourly 0.05310134 0.00057137 $1.67 $0.02 $0.02 $1.64
Daily 1.27443215 0.01371289 $40.04 $0.58 $0.40 $39.47
Weekly 8.92102505 0.09599023 $280.29 $4.03 $2.80 $276.26
Monthly 38.23296452 0.41138670 $1,201.26 $17.28 $12.01 $1,183.98
Annually 465.16773496 5.00520483 $14,615.30 $210.24 $146.1 $14,405.06
In best possible scenario I can break even in: 62.20 Day(s)
Thats of course is magical number, rest of miner lifetime would be profitabe and I would be able to buy more hardware on the go.. and bay be invest in more miners and more tokens to host those miners. So effectively, if everything comes down quite closely to projection, this is an opportunity to build my own little mining income farm in existing giga-watt facilities..
I am seriously considering mining LTC with Antminer L3+ at giga-watt facilities, but lets say I'd be able to start no earlier then October if everything comes down in best possible scenario. Even if we double in difficulty and price of bitcoin goes down to 1k price of LTC would drop accordingly to 0.005btc. I am still going to be able to break even in: 922.79 Day(s)
And thats if we look at worst scenario here. Will this happen? I dont know but risk is worth it i think. Again if lifetime of this miner will last for 2.5 years(some say its around 18 months) as advertised I can consider myself lucky if it holds for 2.5 years.. But if we hit best scenario, with price of litecoin higher then 5$, then I can break even on my investment..
So my risks here are:
1. Difficulty
2. Price
3. Lifetime of miner
4. Government policy.
All of these 4 have very high odds and I cant take current price and difficulty as a solid return plan for what I will get back, current figures are based on the miner working at this particular moment of time, and my opportunity will only come around in October. I know that things can go both ways, and LTC can just go higher and returns will be even higher then planned, but I am looking at risks here not profits..
So lets look at potential returns in worst scenario to break even in 922 days on investment of 2430$:
Time Frame LTC Coins BTC (LTC/BTC at 0.00500000) USD (BTC at $1,000.00) Power Cost (in USD) Pool Fees (in USD) Profit (in USD)
Hourly 0.02619345 0.00013097 $0.13 $0.02 $0.00 $0.11
Daily 0.62864274 0.00314321 $3.14 $0.58 $0.03 $2.54
Weekly 4.40049917 0.02200250 $22.00 $4.03 $0.22 $17.75
Monthly 18.85928214 0.09429641 $94.30 $17.28 $0.94 $76.07
Annually 229.45459932 1.14727300 $1,147.27 $210.24 $11.47 $925.56
Thanks in advance to people who will respond.
I am very new to mining, hence I will ask following questions. They will probably sound noobish. But hey, why not ask greatest community in the world for support.
I have several options to consider and I don't know which one to choose. Recently I started to consider if I should join giga-watt WTT token crowd sale and invest some money in mining. Their website appeared nice to me and whole return on investment structure seemed to be straight forward(if you see any underwater difficulties let me know). So here are following options:
1. Buying 880 watt tokens to host miner(880$) gives you an access to mine at 0.033$ kWh+ ASIC L3+ miner(1550$) from giga watt. Total investment of 2430$. With return of 10,577.89$ a year roughly. As what they advertise.
2. Buying 1500 watt tokens to host miner(1500$) gives you an access to mine at 0.033$ kWh + ASIC S9 miner(1600$) from giga watt. Total investment of 3100$. With potential return of 4,628.51$. As what they advertise.
3. Invest all these money in a rig made in my home land let's say 3200$ roughly for a 6X RX 470 4GB GPU MINER - Z270X ULTRA 150-180 MH/s connect it to my PC and mine ETH at my home with electricity cost of 18p kWh.
I am not 100% sure but I think giga-watt themselves are quite limited in choices of what they can mine i think currently they support mining of BTC, XMR, LTC and ETH. But they don't have Panda miners in stock to mine ETH.
So my main concern is that I can't exactly figure out which one of those methods will be more efficient and what are the risks involved. And of course which method would you choose.
In this particular moment of time returns are fucking amazing, but i like to be pessimistic and take below values(pessimistic) more seriously then the ones below current retes:
Time Frame LTC Coins BTC (LTC/BTC at 0.01076000) USD (BTC at $2,920.02) Power Cost (in USD) Pool Fees (in USD) Profit (in USD)
Hourly 0.05310134 0.00057137 $1.67 $0.02 $0.02 $1.64
Daily 1.27443215 0.01371289 $40.04 $0.58 $0.40 $39.47
Weekly 8.92102505 0.09599023 $280.29 $4.03 $2.80 $276.26
Monthly 38.23296452 0.41138670 $1,201.26 $17.28 $12.01 $1,183.98
Annually 465.16773496 5.00520483 $14,615.30 $210.24 $146.1 $14,405.06
In best possible scenario I can break even in: 62.20 Day(s)
Thats of course is magical number, rest of miner lifetime would be profitabe and I would be able to buy more hardware on the go.. and bay be invest in more miners and more tokens to host those miners. So effectively, if everything comes down quite closely to projection, this is an opportunity to build my own little mining income farm in existing giga-watt facilities..
I am seriously considering mining LTC with Antminer L3+ at giga-watt facilities, but lets say I'd be able to start no earlier then October if everything comes down in best possible scenario. Even if we double in difficulty and price of bitcoin goes down to 1k price of LTC would drop accordingly to 0.005btc. I am still going to be able to break even in: 922.79 Day(s)
And thats if we look at worst scenario here. Will this happen? I dont know but risk is worth it i think. Again if lifetime of this miner will last for 2.5 years(some say its around 18 months) as advertised I can consider myself lucky if it holds for 2.5 years.. But if we hit best scenario, with price of litecoin higher then 5$, then I can break even on my investment..
So my risks here are:
1. Difficulty
2. Price
3. Lifetime of miner
4. Government policy.
All of these 4 have very high odds and I cant take current price and difficulty as a solid return plan for what I will get back, current figures are based on the miner working at this particular moment of time, and my opportunity will only come around in October. I know that things can go both ways, and LTC can just go higher and returns will be even higher then planned, but I am looking at risks here not profits..
So lets look at potential returns in worst scenario to break even in 922 days on investment of 2430$:
Time Frame LTC Coins BTC (LTC/BTC at 0.00500000) USD (BTC at $1,000.00) Power Cost (in USD) Pool Fees (in USD) Profit (in USD)
Hourly 0.02619345 0.00013097 $0.13 $0.02 $0.00 $0.11
Daily 0.62864274 0.00314321 $3.14 $0.58 $0.03 $2.54
Weekly 4.40049917 0.02200250 $22.00 $4.03 $0.22 $17.75
Monthly 18.85928214 0.09429641 $94.30 $17.28 $0.94 $76.07
Annually 229.45459932 1.14727300 $1,147.27 $210.24 $11.47 $925.56
Thanks in advance to people who will respond.
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