Litecoin Hashrate Rockets Over 3 TH/s


#1

:rocket: Boom! :rocket:


#2

And back down a bit.


#3

Not a good sign. People will sell their coins to return the money spent for ASIC. So it will dump the LTC price :confounded:
I really want to see the LTC price above 10$, but it is still not soon.


#4

This does not make sense to me. Rising hash rate will make it more difficult to make profit. So they need to stock their Litecoins and wait until the price rises. This reduces supply and thus will make the price higher.


#5

I fully agree. There will though be “old stock LTC” that messes up the supply/demand picture once in awhile as it is being distributed to new holders, but the main picture is clear. BTC did just do that journey from the USD 300 area. I dont remember mining BTC was that profitable back then either…


#6

i decided to invest the money into buying litecoins and setting up my cryptogrocery business which uses Litecoin/Bitcoin rather than ASICs and sold off all my ASICs before the diff rise, i am glad I did now!


#7

Look at the situation in The 2014. Network hashrate had grown throughout the year from 94 GH to 1,5 TH, but the price for the LTC falled as rapidly from 24$ to 2,5$. :scream: Prime Cost of the equipment is very low (it is about 250$ for L3 with PSU). Therefore, industrys miners sell LTC immediately on the market and the price goes down without new investors.


#8

It will be not profitable to sell immediately mined LTC only when the difficulty will grow for 9.5 times (with electricity cost near 0.06 cents)! At 9.5 times !!! 841865500… It is too long. Also profitable would be even when the LTC price will drop to 0,4$…


#9

Why this big increase in hashrate? I don’t understand, mining is hardly profitable already, who is investing in LTC when it is more and more falling back vs BTC.
I’m still mining with a Titan, but lost my thrust in crypto mining a long time ago. On a certain moment I realised that it is embedded in alogrithm that it will always level out to zero profit. Only early miners will have a profit, for LTC you should have started back in 2014. My titan will probably never ROI, so won’t all those new mining equipment.
The Titan is still one of the most effycient miners, new equipment is hardly better. It is telling me that hardware is on it’s max, there is not much to gain in effeciency.
So on august 2019, when the next halving is, all mining hardware will cost more to run than it will mine in LTC. And I’m pretty sure the value of LTC will not compensate it. As it didn’t do anything the last halving.
So only people who run on cheap or free electricity can run their miners.
Second thing, with segwit on BTC why would anyone use LTC anymore, So I think it will loose more and more interest, lowering it’s value even more.
Sorry for my negative opinion, but this is how I feel about it.


#10

New Bitmain and Innosilicon miners coming online. Likely filling data halls.


#11

LOL, where are you seeing an L3 for $250? Try more like $1600 + shipping + PSU.


#12

1600$ is price for you
But for industry miners it is about 250$ :wink:


#13

I bought my miners for £700 - £800 and flogged them for £1750 each after mining £500 each with them, kinda used astrology to plan that investment… LTC difficulty due to retarget to 98k


#14

Network hashrate had grown throughout the year 2014 from 94 GH to 1,5 TH, but the price for the LTC falled as rapidly from 24$ to 2,5$.


#15

I’m very curious what is going to happen, because here at my place electricy costs € 0,16, so an Insilicon A4 already has a negative profit. A KnC Titan gets you a profit of € 1,63 a day and the Bitmain L3 € 3,26 if it trully uses only 400Watts (which I find hard to believe, because it’s half of what the others do). But even the Bitmain will take you 2 years to ROI and that’s only when diff stays at 100K… and price does not go lower.
I’m not sure what they pay for electricity in china, but here in europe LTC mining is history…


#16

For China and Russia L3 asic is a nice investition. We have cheap electricity.


#17

from where i can buy lowest industry price ?