How Much Money Can I Make With Litecoin LTC Mining
The reality is if you don’t have an army of ASICS miners you would not be able to mint enough coins to ROI your investment quickly. Plus, you need to manage and pay for power bill which is expensive in Switzerland - one of the highest rate in Europe. If you have 30K to spend on miners, you are better off buying LTC at the dips. 30,000 / 50$ = 600 LTC more than your 150 LTC target. If you are adamant of mining anyways, a better strategy would be investing in GPU rigs like Peter’s setup - you can mine and have freedom to mine any coins and GPU algorithms that are profitable. The ASIC miners on the other hand are designed to only specific algorithms, example: S9/A741s = SHA256 coins, L3+, A4s = Scrypt coins and D3, Baikals = X11 coins.
Jun 22, 2017 - So, where can you do this? Sadly, you can't invest in Litecoin at your stock broker. Instead, you need a digital wallet. The best digital wallet we've found for US Citizens is Coinbase. Coinbase allows you to buy and sell Bitcoin, Bitcoin Cash, Ethereum, and Litecoin all in their app. Since Coinbase is also a. Hello, i have recently built my pc and ive always been interested in Bitcoin mining however i really have no idea how much money i can make, or any.
I don’t agree. Buying 3 ASICS (L3+) on alibaba for 5400 (1800 each).
ROI is with 50$ / LTC and an difficulty increase of 100k per month within 108 LTC’s. Thats after 4 months. Increase of value not taken in consideration.
Thank you for the explaination about algorithms and mining those. I think with asics you have enough freedom to mine different coins (crypt it is). But yeah, not COMPLETELY freedom EDIT: it does not really make a difference if you have 3 or 30 ASICS. Unless you get a pretty good deal by bulk-bying.
The main reasons I decided to not use ASIC miners: • If a miner goes down, it is incredibly hard to fix. You essentially have to send it to the manufacturer and wait. By the time you get it back, the difficulty may be higher. There is an incredibly short window of time on these miners in which you need to utilize them to get ROI. For instance, if you order the 3rd batch from Bitmain, you will probably only get your ROI.
• When they do become unprofitable, and they will, they have a very low resale value. GPUs on the other hand have great resale value because they are used by gamers also.
• GPU miners can mine MANY different coins as opposed to ASIC miners. I mean i understand your points. I like to be as free as possible as well. But disregarding flexibility for one second please. Money is the limiting factor unfortunately the difficulty level is rising anyway. The GPUs are in a short window as well in relation to the diff-level. So the ROI with a self built rig is like, enormous.
500MH/s for 2000$ (L3+) vs. 500MH/s for 5000$ (GPUs). Clearly the ROI of the selfbuilt rig needs longer or not? I really don’t get it can somebody give me an example for a self built rig and how much the ROI is?
How is it possible to get a decent ROI and profit? You are SO PUMPED to get started mining and I LOVE IT! While reading through all the posts on this topic I caught a few things I want to clarify. It just could be a good money-making-hobby This is the mentality you have to have with mining cryptocurrencies. It’s a hobby that will pay off over time.
And I have tried to get some Antminer L3+ from Bitmain and we haven’t be able to get through the wall of internet traffic when they go on sale. Buying these second hand could result in not getting your ROI.
Others have calculated the risks here: $2280 is the price plus $105 for the power supply. Website is super slow. I think with asics you have enough freedom to mine different coins (crypt it is). But yeah, not COMPLETELY freedom L3+ is built and programmed for Litecoin.
There is no pointing it to mine another coin. Once the difficulty goes up, and/or a new miner comes out, the L3+ will go by the way side and you will have a nice expensive door stop. That’s not to say you won’t get your ROI plus a good bit of LTC.
It’s to say that once they are done, they are DONE. Electricity cost in Denmark is around 0,31-0,32 USD per KWh THAT IS ONE INSANE ELECTRICITY COST. If you haven’t already check out my topic about electricity. It is in reference to GPU mining but still applicable. This post is spot on!
In mid 2015, I too was so intrigue by the mining scene after a disappointing experience with cloud mining. I can understand your enthusiasm - Crypt-Erol. I am not discouraging you to get mining rigs or Asics. My first rig was 5 x MS R9-390 about 150MHs, this grew quickly to 5 identical rigs, total 750MHs. Back then that 750MHs farm can do 15 to 20 ETH coins per day - it was a good investment and ROI was around 6 months (after power bill). As far as mining is concerned, the lessons learned were: • Diversify - eventually we settled on 50% BTC Asics, 30% Scrypt and X11, 20% GPU, to be able to hit our daily preferred target. Our trading portfolio however is as high as 4x of our mining revenues.
• Mining as leverage to your crypto currency trading portfolio. While we trade mostly BTC, LTC, DASH, XMR - we use our mining gear to mine these coins directly – otherwise they will switch to rentals on normal days and get BTC payout. • Keep an eye on the power expenses (ideally less than 12c/USD/kw/h) and ROI (ideally less than 8 months or less). Before we hosted the farms out to an ISP with cheap hydro electric power (5c/kw/h), the power bill was nearly 30% of our expense. After outsourcing, we reduced this 20%. • Pay attention to coins difficulty levels - Bitmain last few pre-sales committed minimum 30,000 Asics miners (L3+ and D3) into the market – time will not be on your side if you don’t have a farm approach to mining.
Also, 500MH L3+ DOES NOT EQUAL 500MH GPU hash a single L3+ is probably equals to hundreds of GPUs with a fraction of the wattage consumption. • ETH mining consumes the most power, followed by ZEC (reduced by 10%) and XMR (reduced by 20-25%) - XMR mining power consumption is very good. • AMD vs NVIDIA – although NVIDIA cards are more expensive - power consumption is very good, easy to OC and runs cool. AMD was cheaper (but now not sure, they got greedy me thinks).
A good GTX1070 is a very good multi purpose GPU IMHO - just like the best seller 480/470s. • If you do home mining, don’t underestimate the costs of cooling solutions.
Its better for rigs to run cool and stable even at reduced hash, vs rigs that are super clocked, runs hot and hangs frequently. Always undervolt, and slightly overclock. A stable mining farm often is not the one with the fastest overclocked rigs. • Power supply unit - don’t be a cheapo when it comes to PSUs.
Your rig investment will be safe and long lasting, if you have good power supply. Many things can go wrong when you have a crappy PSU. Just sharing my 2cents to members here. Its good to be mining but there are also many factors to worry about and you need to have a good strategy to be profitable in mining.
Happy mining! Wow, this got into a really nice and informative chat! Thank you, thank you and of course thank you! I think im still curious and interested in doing this in the near future. Planing on my strategy to get in with not much money and then grow more and more.
At this point i’m not sure if GPUs really getting me somewhere - first calcs where like: 2000$ investment and the bills of the room are only paid so, the only way to get ROI would be an increase of value! Thats too risky. How does XMR only use H/s and ETH needs MH/s and you can mine them on the same GPU rig? How goes the math here? If someone can post a link with a tutorial or something, that would be great! Agree on all counts.
ESPECIALLY number 1. ASICS are extremely profitable when you first get them. If you gets yours and its damaged or fails early you can go weeks or more before bitmain sends a replacement and you lose all those porfits. Bitmain S9 MonaCoin MONA Mining Rigs. Also we are in batch 3 or 4 now, so by the time you would get it that profitability calculator would be way off with the dificulty.
The most profitable thing you can do with a batch 3 or later ASIC is to sell as soon as you get it. You can get 2X-5X on amazon or ebay for it. ROI for a GPU mining rig, depending on the cards and electrical cost is about 220-280 days.
The Benefit on GPU mining is that while the difficulty increases its a slower incease then ASIC mined coins. And when ASIC mined coin difficulty gets to a point where its not profitable, your asic miner becomes a doorstop with no value. When the dificulty on a GPU mined coin becomes non profitable, you can move to another coin, or just sell your GPUs for 20%-60% of what you bought them for, the major factor though is risk. If one of your GPUs fails you still have the other GPUs mining and its easy to source/RMA/warranty replace a bad GPU.
If your asic fails its going to be a lengthy process for bitmain to get you a repair or replacement. GPU mining profitability is certainly not what it was. But with more and more coins every day there will be more GPU minable PoW coins in the future. And you can still make some money off of it especially if you can sell the cards when your dont for a decent profit.