Quote from: sniffinpoprocks on February 17, 2014, 01:11:55 PM

Quote from: cryptohead on February 16, 2014, 08:48:05 PM

Don't want to change the subject, I advise any prospective buyer to use escrow and mainly to use common sense.

I do have a separate point though: price/profitability.
I know you guys are mining just for the sake of the network and in "ars gratia artis" terms. But these will never break even mining at 3Mh with 90W power consumption, at 0,1$/KW, which are all very optimistic.
And don't tell me you will be also mining SHA, because at that hash/power consumption it will lose you money from day one.
At a 3% difficulty increase you will be 1500$ in the red after ~500days. Do you need to wait that long to find out you've lost 1500$?

And we all know that once ASICS get in, the diff will explode. Bitcoin has about 25-30% steady diff increase. But the first Bitcoin ASICS, whoever got them first were sold at a price that could be recouped in 30 days or less. Gridseed, as it is priced right now does not break even!

My point and message to you, seeds is that your price is too high. Especially in the current Crypto market.
Please price it at a level at which the miners can make a buck, at least a small one.
I'd buy if this would have a max 90 days breakeven time.

maybe but... I for one, have free power...also, your basing this on no increase in coin value. If alt coins balance out in the future, with ltc generated at 5x the coins of btc, ltc may eventually reach 1/5 btc value.
either way, this 'could' easily make a profit in the future.

I've heard this argument before. Fact is bitcoin is almost exclusively the gateway to fiat. And everyboy is paid in fiat. Nobody is buying Litecoin to go to buy stuff online.
Litecoin will need to have acceptance as a payment medium greater than Bitcoin for your scenario to happen. I say greater because bitcoin was first and has the media attention. To reach value parity to Bitcoin, Litecoin will need to catch up and overtake Bitcoin in media coverage and acceptance as a payment method. The sad news is that litecoin is not bitcoin. Look at the LTC/BTC exchange rate and correlate that with the downs in the crypto market to understand that.
Everyone is basing their investment decisions on the bitcoin history repeating: ASICS get in, diff increases, coin value increases.
Well, everybody acts on this hypothesis. There is no payback in going with the crowd. The profit is for those that are already there.