Quote from: tacotime on April 13, 2013, 09:51:36 PM

Started mining Litecoin large October last year (bunch of 7950s). Was making about $100-200 a month. Was pretty cool with that. Paid off the rigs in 4 or so months. Hoarded all the Litecoins I earned for shits and giggles, I think they were worth between $0.05-0.08 but the price was stable so I didn't care.

Fast forward to March. Litecoin went up to $4, dumped most of them, made 2000%+ profit on investment. Bought another 3 rigs with some of proceeds. Am mining and hoarding again. If the price goes down, good. More LTC for me when the difficulty falls.

The arguments above are more or less the same ones people were making when I was mining for Litecoins at 0.06 USD each. I ignored them. I made a lot of money. Unless some major problem comes up with the chain, I'm going to continue ignoring them.

Okay, time to get back to work here.

I see this a lot. People in this community tend to be greedy and discourage others from mining because it makes it less profitable for them when the difficulty rises. My 7950s are as profitable now as they were when difficulty was 38. As long as cryptos continue to gain on fiat as far as exchange rates go, this will not stop. Startup costs can be expensive but it is definitely worth it considering you can resell the GPUs later for 75% resale value.