Quote from: Bitcollector on June 12, 2017, 02:18:47 AM

Quote from: stelam on June 11, 2017, 08:25:04 PM

Hello guys,

I am very new to mining, hence I will ask following questions. They will probably sound noobish. But hey, why not ask greatest community in the world for support.

I have several options to consider and I don't know which one to choose. Recently I started to consider if I should join giga-watt WTT token crowd sale and invest some money in mining. Wtt website appeared conveincing to me and whole return on investment structure seemed to be straight forward(if you see any underwater difficulties let me know). So here are following options:

1. Buying 880 watt tokens to host miner(880$) gives you an access to mine at 0.033$ kWh+ ASIC L3+ miner(1550$) from giga watt. Total investment of 2430$. With return of 10,577.89$ a year roughly. As what they advertise.
2. Buying 1500 watt tokens to host miner(1500$) gives you an access to mine at 0.033$ kWh + ASIC S9 miner(1600$) from giga watt. Total investment of 3100$. With potential return of 4,628.51$. As what they advertise.

I am not 100% sure but I think giga-watt themselves are quite limited in choices of what they can mine i think currently they support mining of BTC, XMR, LTC and ETH. But they don't have Panda miners in stock to mine ETH.

So my main concern is that I can't exactly figure out which one of those methods will be more efficient and what are the risks involved. And of course which method would you choose. Roll Eyes
In this particular moment of time returns are fucking amazing, below are current retes:

Time Frame LTC Coins BTC (LTC/BTC at 0.01076000) USD (BTC at $2,920.02) Power Cost (in USD) Pool Fees (in USD) Profit (in USD)
Hourly 0.05310134 0.00057137 $1.67 $0.02 $0.02 $1.64
Daily 1.27443215 0.01371289 $40.04 $0.58 $0.40 $39.47
Weekly 8.92102505 0.09599023 $280.29 $4.03 $2.80 $276.26
Monthly 38.23296452 0.41138670 $1,201.26 $17.28 $12.01 $1,183.98
Annually 465.16773496 5.00520483 $14,615.30 $210.24 $146.1 $14,405.06

In best possible scenario I can break even in: 62.20 Day(s)
Thats of course is magical number, rest of miner lifetime would be profitabe and I would be able to buy more hardware on the go.. and may be invest in more miners and more tokens to host those in giga-watt. So effectively, if everything comes down quite closely to projection, this is an opportunity to build my own little mining income farm in existing giga-watt facilities.. Unless I am counting something wrong in here.

I am seriously considering mining LTC with Antminer L3+ at giga-watt facilities, but lets say I'd be able to start no earlier then October if everything comes down in best possible scenario. Even if we double in difficulty and price of bitcoin goes down to 1k price of LTC would drop accordingly to 0.005btc. I am still going to be able to break even in: 922.79 Day(s)

And thats if we look at worst scenario here. Will this happen? I dont know but risk is worth it i think. Again if lifetime of this miner will last for 2.5 years(some say its around 18 months) as advertised I can consider myself lucky if it holds for 2.5 years.. But if we hit best scenario, with price of litecoin higher then 5$, then I can break even on my investment..

So lets look at potential returns in worst scenario to break even in 922 days on investment of 2430$:

Time Frame LTC Coins BTC (LTC/BTC at 0.00500000) USD (BTC at $1,000.00) Power Cost (in USD) Pool Fees (in USD) Profit (in USD)
Hourly 0.02619345 0.00013097 $0.13 $0.02 $0.00 $0.11
Daily 0.62864274 0.00314321 $3.14 $0.58 $0.03 $2.54
Weekly 4.40049917 0.02200250 $22.00 $4.03 $0.22 $17.75
Monthly 18.85928214 0.09429641 $94.30 $17.28 $0.94 $76.07
Annually 229.45459932 1.14727300 $1,147.27 $210.24 $11.47 $925.56

So my risks here are:
1. Difficulty
2. Price
3. Lifetime of miner
4. Government policy.

All of these 4 have very high odds and I cant take current price and difficulty as a solid return plan for what I will get back, current figures are based on the miner working at this particular moment of time, and my opportunity will only come around in October. I know that things can go both ways, and LTC can just go higher and returns will be even higher then planned, but I am looking at risks here not profits..

Thanks in advance to people who will respond.

You have rightly guessed to make difficulty the biggest possibility for not making any money. If you take for example LTC and its increase rate of 3% -4% every time it adjusts, which is about 4 days, you are looking at around 40% per month, so if you pay nothing for electricity you still won't make any money unless the price of the coin goes up alot each month too.

Check out this difficulty calculator. http://www.vnbitcoin.org/litecoincalculator.php

You are paying too much for the miner in the first place. And if you have to wait 1 or 2 or 3 months just to get your miner, good luck. If you buy today, you might get half your money back, if you pay now and wait 30 days, you might get 1/4 of your money back.

Here is a good idea. Buy coins straight out.

You have ask yourself, if the money was so good, why are they selling this idea to somebody else? Think about like this, when is the last time you gave away to the public millions of dollars? If the money is so good, these guys can go and borrow money and mine and make millions. But the problem is the risk is too high. As soon as thousands of Joe Q. public think they can make money they go out and start mining by the thousands. This hunger drives up the mining which drives up the difficulty. This is the same rush in the 1800's for gold.

In 2013, I mined for a short period of time, when BTC went from $110 to over $1000, I was lucky to get out with a profit. It wasn't from great planning. haha. Wish somebody told me that back then.

Hey Bitcollector,

Thanks for reply, then from this standpoint I can only say that investing in WTT token project is totally pointless in purpose of mining, unless you are a shark with a lot of equipment in hand. The only profitable side of this project is that someone will rent your tokens. And you start earning something in 3 years(maybe) but for that to happen someone has to rent your tokens non stop from day 1 ))) which is very unlikely I suppose as its not even sold out at this stage, but even if they dont sell all tokens, price of a token has to go significantly up to make renting strategy viable. And will they ever after few years do another ICO? Nobody knows..