Topic: My Situation: Mining LTC now and After Halving. Looking like meh! Take Poll! - page 2. (Read 543 times)

Really curious to see where all this hash is coming from. I imagine we should see about a 10-15% drop in hash after halving, however I suspect much of the hash that has come online over the past month are the new L5s and Inno scrypt miners. So I guess once those miners go up for sale the word "new" will be used very loosely.

after fees and shipping and install..the ones i see actually cost 11c kWh

thus the stuff in the data hall are just sitting there off

look closely, what they say is 8c kWh often turns into 10c kWh and above after fees and summer rates

the other trick is to say the yearly ave is 8c and such to get under 10c kWh

but yeah, send me some links, I've not found any places where it pays to ship them from the current data hall to the new data hall

w/o it all being the same in the wash

also at 100 buck LTC it likely is moot anyway (today's price)

brad

edit: also of course with HALVING in less than 30 days or so. Ack! (That boat may have sailed)

this is pretty much the truth.

Why are you colo mining asics at 11 cents? thats a ripoff   Send your miners else where with 8 cents or lower

I believe a little before september when sec comes into play, cryptocoins will start rising again, so around 60 days or so and next year will follow the growth, by next year i believe btc will hit 23k or so and ltc usually follows btc.

Well, what looks like an apocalyptic episode for scrypt-pow mining (as it relates to electric use in your area) At least in the Upper Central Midwest, where I am at!

What the hell happens, IF, the price does not reach a point where it makes sense for Bitmain L3+ units (say 75% of which are doing most of all scrypt-pow coins now) (my guess)

CAN't make it, in the sense of price to mine at this difficulty vs electric costs?

So, the halving comes, no real price increase to compensate and these Bitmain L3+ miners go OFF...

Indeed, miners of a newer scrypt-pow generation would just kill at that point. Maybe. Unless the result is a downward spiral of those dumping Bitmain L3+'s and there

LTC and scrypt-pow coins in a scramble to pay bills or drive down equipment or data hall debt. etc.

However, AS to ths newer stuff than the Bitmain L3+'s..the minority of miners, I would suspect those would be 'mitigated' by all those previous L3+ miners,

dumping mass amounts of crypto to cover losses, clean up debt to the data hall

etc. Thus dumping the LTC and otherScrypt-Pow prices even further. This could be a really, really bad cycle of events downward, the price was for all scrypt-pow altcoins, crashing.
 
It could get really ugly, really quick and at the worst of times, with BTC taking more and more market share. I think it is 65% now vs Altcoins.

This, of course, is how it is supposed to work, miners become outdated vs difficulty and price and electric prices.

But, this  seems a case where it is not in anyway gradual, could conspire to go 'poof' on this Bitmain L3+ equipment like really, really fast, with all the vectors

of scrypt-pow prices/difficulty/and BTC dominance. The speed of this happening is what I find that could be amazing, it litterally could be as fast as the next

bill cycle to the electric utility and everyone 'blam' turns the 'switch' off at the same time.

Anyway, not liking the direction this is going, with the above combinations. Also I"m guessing on above, but makes me feel 'sketchy' even more on my LTC and altcoin HODL.

I'm out of home mining it seems for good as an aside.

MY electric (HOME) is now Minnesota (Xcel) is going to be with summer rates around 17c kWh.

The data Hall in Iowa is also getting hit. 11c kWh Summer Rates.

 So, my Bitmain L3+'s are turned off at that site yet, as not worth turning back on yet.

Again, just saying, the trends above could be coinciding to drive equip/price down and difficulty going down may not keep up with those who are left

in scrypt-pow mining. The Bitmain L3+ units as the majority of units out there, could just plain 'take everyone with them' as they go off and the depending

on how much the operators DUMP their LTC and Altcoins, this could be a very bad downward cycle. And quick as *f*ck*.

Also, the LTC halving MAY not be a lot of help in price. Look at 2015 halving for LTC and see the months it took for that to

change prices and pump LTC. I think it was like a 1 year and 5 months or some such. Damn, re-read above, not a lot of encouragement.

Not looking likely that my Bitmain L3+'s will ever be turned back on. (Have to keep equip to keep IRS happy for equip depreciation or will get ding'd..ie. doorstops)

Crypto: Always Drama!

later

Brad

Somewhere out there are a whole bunch of Innosilicon A6+ units being hoarded by a few very lucky people.

bump.

(because thread moved to the proper area by moderators. thanks)

Reserved.

This is for ANY Altcoin to show how you are 'gettng by' or 'not' mining with ASIC's or Whatever.

My example is below for Litecoin Bitmain L3+ Machines at a data hall at 11c kWh Summer Rates. (Ack! That sucks big time!)

So where I'm at with mining as of now, for mining Litecoin, per se. Before and After Halving.

Litecoin better beat $150 after the Litecoin halving or all 'heck' is gonna break loose, IMHO. A whole lot of sideways running out of desperation, even at that rate, after halving.

Right now, if you assume my 'guess' of all the equipment in the world that mines Litecoin that is still up 75% is Bitmain L3+ type units (or equivalent). Vary my guess down or up

by anything you think appropriate, looking at the below calculator. Again, this is just a guess.

Using www.litecointalk.org/calc which is a 'free pool with no fees' and pays now 101% LTC payout.

You get the following for a 'stock' (you are a bit better off underclocking...but will not show that here) Bitmain L3+ Miner.

I am using the following 500mh at 800 watts at 11c kWh (Summer rates in data hall in the USA Midwest, for me anyway) at the current price of $121 USD per Litecoin.

-11c a day. (damn that is ugly) or -$3.20 per month. (1c makes a difference at 10c kWh it would be 9c a day or +2.56 a month profit...damn you, Summer Rates!

Days before halving of Litecoin as of now: https://www.litecoinblockhalf.com/ or less than a month. 27days 20hrs as of now.

500mh
800 watts
11c kWh (Summer Rates for 4.5 months yet I think it is here)
at $121 Litecoin USD price.
Assuming, of course, the difficulty is flat.


                            Profitability Analysis
   Expected Rewards   Costs   Net Profit
24 hours   0.01657349 LTC   2.01 USD   2.11 USD   -0.11 USD
7 days   0.11601444 LTC   14.04 USD   14.78 USD   -0.75 USD
30 days   0.49720474 LTC   60.16 USD   63.36 USD   -3.20 USD

What you would need for a Litecoin Price AFTER HALVING to make the same meager amount of money as of today. To make even a LITTLE BIT of profit.

500mh
800 watts
11c kWh
at $150 Litecoin USD price.
Assuming, of course, the difficulty is flat.

Days after the halving of Litecoin as of now

                                   Profitability Analysis
   Expected Rewards   Costs   Net Profit
24 hours   0.01657349 LTC   2.49 USD   2.11 USD   0.37 USD
7 days   0.11601444 LTC   17.40 USD   14.78 USD   2.62 USD
30 days   0.49720474 LTC   74.58 USD   63.36 USD   11.22 USD

37c a day. (still meh!) or +$11/22 USD per month.

So, from my 11c kWh point of view, and Bitmain L3+'s being 'tail end charlie' as far as efficiency miners at the back of the pack now.

The "worst"? we are looking at with $150 USD and say difficulty flat is kinda more of the same. Keeping the doors on the data hall open and kinda 'meh!'

Others with like 6c kWh rates etc are laughing their ass off at me. But that is the math, for the Midwest USA and Summer Rate increases. This is about 11c kWh rate.

I don't see a lot of miners (if my assumption of Bitmain L3+'s still hanging on and being 75% of stuff mining yet is correct). Anyway, not a lot of miners will drop,

the difficulty will go sideways, and what? 6 more months of meh! as it is?

So sh*t has to come back in a big way. If the price of Litecoin was to dump to say $100 USD, IMHO. That 75% of Bitmain L3+ units would then drop off the network

and likely the remainder of generations above the L3+ could do well.

But just saying, if I assume again, that everything that can run from the Bitmain L3+ on up, and that difficulty is high and gonna go sideways because of everything

that can be on, is on. Then the above meh! may be in our future.

Hoping, Mimblewimble and the halving will solve some of this. But I looked at the last halving and found the following.

Litecoin price on 9/8/15 price of LTC was $3.90 Price of LTC on 7/8/17 was $3.77. So the halving does not mean much. That was after 1 year and 11 months! More

or less after the last Litecoin Halving.

So yeah, altcoins, including Litecoin better come back in a big way, or this will really, really suck!

Take the Poll on your electric rates and how you will fare on all this.

Again, this is for any altcoin and any ASIC flavor of machines. Again, I used Litecoin Machines Bitmain L3+'s above as my example.

Later

Brad