Author Topic: Mining litecoin seems to be obscenely profitable. What am I missing????  (Read 354 times)

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Offline Stubby5000Topic starter

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I'm just beginning to learn about cryptocurrency, so forgive my ignorance. When I plug the stats for the Antminer L3+ (504 MH/s, 800W power usage) into a profitability calculator using my local electricity cost ($0.09/kWh), I get a monthly profit of $1200-1400. The L3+ can currently be purchased on Bitmain's website for about $2200 (ships the end of Sept). So, after only two months you will already have more than made your initial investment back. The miner doesn't stop being profitable until Difficulty reaches about 6,500,000 (which is 26 times the current Difficulty). Of course, that calculation assumes that the Difficulty skyrockets while the price of Litecoin stays exactly the same, which would never happen (my understanding is increasing price generally is what drives the Difficulty up). So here we seem to have a miner that will remain profitable for the foreseeable future. Why isn't everyone buying as many of these miners as they possibly can? Why is Bitmain even selling them, when it would be more profitable to mine with them themselves? Basically, what am I missing??? There has to be something. This seems too good to be true.
Thanks.


Offline bitbin

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Re: Mining litecoin seems to be obscenely profitable. What am I missing????
« Reply #1 on: October 09, 2017, 04:03:56 PM »

Special offer from Bitmain partner ( https://antminer-store.com )
Released new :
antminer D3 , L3+ , S9 , T9 , R4 , Ethereum miner.
APW Power Supplies.
Cheap Prices.
Fast delivery.
Shipping methods with Free Shipping and DHL , UPS , FEDEX.


Check now : https://antminer-store.com/

Offline bitbin

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Re: Mining litecoin seems to be obscenely profitable. What am I missing????
« Reply #2 on: October 10, 2017, 12:42:11 PM »

Special offer from Bitmain partner ( https://antminer-store.com )
Released new :
antminer D3 , L3+ , S9 , T9 , R4 , Ethereum miner.
APW Power Supplies.
Cheap Prices.
Fast delivery.
Shipping methods with Free Shipping and DHL , UPS , FEDEX.


Check now : https://antminer-store.com/

 

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