Hi I am new at the forum. Now I am introducing myself into mining, I used to do it with a 280X on 2014 but the performance wasnt really good, now I want to start with a good inversion, I have 1500 euros but I dont know what rig make, also I read something about litecoin mining hardware, like asics. Is it worth it? I have been looking for it but I dont know where to buy it.
See my view on this on the below thread
not sure if there is anything worth buying for any asic flavor of equip right now be it scrypt-pow or x11 or sha-256
if you think LTC is gonna pump …just sell crap on eBay or what you’d put in a miner and buy it
I’d wait till 2018 after Chinese new year for equip …too much a glut now IMHO
(note: the bitmain D3 fiasco on x11 …never to ROI)
I agree with @Searing, after spending the last 2 months staying up late trolling the web for miners, I decided to just stick with what I have and wait until the late winter. I’ve been following that thread @Searing shared, minings really a hobby for me.
If you really want to get a rig, my recommendation would be to get the best of the best you can find. No sense wasting money on old equipment because the difficulty will rise too much for it to pay off. (I made this “mistake” with some Gridseeds… but it was a low-cost way to get a crash course in mining LTC, so maybe not a mistake more as a lesson…)
Also, when I do my ROI calculation, I factor in the fact that I’m only going to mine with the rig for 12-24 months before I get a better machine and I sell my current rig for about 1/2 of what I paid for it (hopefully that or more…). So I bought my A4 Dominator for $1600 months ago, I’ll mine with it for another 6 months or so then list it on eBay since a more powerful machine to replace it. (A4s are still going for around $1600 too at the moment…)
I’m not claiming I’m an expert or anything at mining but this is my strategy: Buy the latest and greatest machine but don’t pay too much more than what it would cost brand new (e.g. don’t pay > $2500 for an L3+ or > $3500 for an A4+). Mine the latest equipment until the next-gen equipment is around and then buy that, once its up and running, sell the old equipment on eBay and hopefully return on your investment.
As for you’re questions:
Is it worth it?
For me, yes it is. I’m a Computer Engineering BS and I just love running my own little (but loud and hot) data center so even if the difficulty spikes and I start making 0.01 LTC every 3 days (like my gridseeds did) I still think it’s worth it. At the moment, a few hundred $$ in profit each month (after elec. costs) is totally worth it. Even though I haven’t mined the full cost of my A4 yet, I still see those machines selling for pretty much the same price I bought mine at months ago so I’m not too concerned about what ROI calculators tell me (I factor in the depreciation cost of the equipment and resell value to do a real ROI calculation).
I have been looking for it but I don’t know where to buy it.
I recommend going on eBay every day or two and watching equipment. Both my machines I got pretty much close to what they sell new on eBay because I was watching and waiting for a deal. Download the app on your phone and just click watch on all the miners you can. WAIT FOR A DEAL, if you wait long enough, I’m sure you’ll find a good deal on a machine, prices on machines go as high as double what they are brand new with is ridiculous. Don’t feel like you need to splurge on a machine so you can start mining ASAP, be patient, it’ll save you hundreds if not thousands, take your money and put it in LTC in the meantime and watch it grow. The L3+ and the A4+ are the machines I’d watch right now. I’d stear clear of anything sub-250mhs. (again… not an expert at mining yet)
sometimes that is the play …I started mining in 2013 (btc) and ltc in 2014
did not buy NEW machines till 2016 and they were dumb luck i found out knc banksruptcy machines
i did buy used knc titans etc in that amount of time before 2016 and of course HODL
so in them ‘old days’ you’d usually take your shot on machines in spring or fall
so I got stuff in the spring…and of course IF that is the correct choice…if you got in at the right time
then of course by FALL everyone is in…so …it is hard but dumb about pulling it off 2x in a year imho
years ago …you could NOT find anything but 1x a year…now it is toaster city
but the same applies…I got stuff in spring 2017 got lucky thru summer…the rout of equip will burn itself
there will be new equp (maybe) or at least priced less (maybe) in spring of 2018 and I will do calcs again
of course if LTC price pumpt so 150 to 300 bucks bitmain will just say ‘firmware error’ and not ship your
product anyway on that like like they did this last summer…so be cautious even with a price pump
or you may give them a 6 week loan of your equip you paid for for them to use
but anyway, i right time to buy and a wrong time…but usually ONLY 1 of the two times a year you maybe
can buy any miners of any flavor .you should keep this in mind
I did great on L3’s and L3+'s spring and summer but got ‘cocky’ and really needed the equip deductions for the tax man
so got 2 D3’s this fall (broke my own rule)…well the equip deduction worked fine…but likely will eat 25% after all and they go doorstops on that deal
live an learn…you want to be AHEAD of the other lemmings…(or maybe I should say be the last lemming) to bet any equip
but again, if LTC pumps above $150 and you have ROI miners it won’t matter much…used stuff you have will work
just dandy …and if the goal is to sock away crypto …then just ride that wave
gonna be tough thou
2016 got knc liguidation equip and 1 ebay new dump also unsued for 7 knc titans of 34 cubes all NEW
(again dumb luck)
got a mess of L3’s and L3+'s *using my above buy someting I need the equip deduction reasoning…and it was
maybe it was 12-14 month ROI guess…when LTC pump …and LTC was 4.15 usd…I made an april 1 2017
prediction the floor was at $6 for LTC and pulled the trigger on equip (was mocked…april fools day did not help)
…this post is someplace on www.bitcointalk.org
and of course it LTC now is 73.80 usd
again dumb luck
it is damn hard to believe fairydust/unicorn farts/bambi winks/magical inet $$$/ are gonna fall out of the sky
and for a 3rd year in a row I can see equipment rainbows
but hey, a guy can dream …just be parinoid