Is this a good investment? (7k$)

[jakeslayer]

Hello,
I'm thinking of purchasing a Goldshell LT5 (2GH/s) from the July Batch (3.5k USD). Which I will use to merge mine LTC+DOGE. With the current difficulty, It can mine 1.37LTC a month, which in current value is 393USD, Since you get 2000 Dogecoins every 1 LTC mined, I'll be getting 3245 Doge a month which right now is around 600USD, so ROI is basically 3-4 months max, and doge looks very promising and can break 1$, LTC also doesn't look like it is going down anytime soon, so what could possibly go wrong? This is a good investment, right? Please correct me if I'm wrong in anything. BTW: I don't pay for electricity
(Also will probably get 2 of the miners for 7kUSD)

Thanks

 

[R-T-B]

Doge is a spam coin, I doubt it will hold it's current value for long (reddit is driving it up). Don't count on it in your calculations, the supply is simply too full of freshly minted tokens.

Yes doge is good to mine on the side but I feel it will crash soon, hardly rise.

 

[Shrek]

Miner costs $3,500, earns $600 a month; have I got the values right?

Have you taken into account the cost of electricity? which may be around $200 a month or more, not including cooling costs and it seems to be very noisy, which might be an issue for some.

Do you have a 220V supply? and it looks like it is sold out at the moment.

If I have the figures right above, the ROI may be closer to 1 year if things stay the same, and tax applies to earnings.

 

[jakeslayer]

Miner costs $3,500, earns $600 a month

Have you taken into account the cost of electricity? which may be around $200 a month.

I forgot to mention, I don't pay for electricity, I'll edit it in.

 

[R-T-B]

I forgot to mention, I don't pay for electricity, I'll edit it in.

Be careful adding signifigant power draw to a "free electric" rent arrangement. At a certain point you may find it no longer is free.

Also this forum is heavily biased towards "gaming" and many hate mining for depleting gpus, so keep in mind that will taint any advice you get (even though these are ASICS)

 

[jakeslayer]

Be careful adding signifigant power draw to a "free electric" rent arrangement. At a certain point you may find it no longer is free.

Also this forum is heavily biased towards "gaming" and many hate mining for depleting gpus, so keep in mind that will taint any advice you get.

It's not metered, I pay yearly and its managed by a company and not a landlord, They won't notice

 

[R-T-B]

It's not metered, I pay yearly and its managed by a company and not a landlord, They won't notice

Just putting up the usual disclaimers.

 

[jakeslayer]

Miner costs $3,500, earns $600 a month? have I got the values right

Have you taken into account the cost of electricity? which may be around $200 a month or more.

Do you have a 220V supply? and it looks like it is sold out.

It seems to be very noisy, which might be an issue for some.

It earns 1000$ a month when you include profit from LTC and DOGE, where you get 400USD from LTC, and 600USD from the DOGE (as of current value). And yeah, at the moment it is sold out, but they should be back in stock for pre-orders and their next delivery batch is in july.

Doge is a spam coin, I doubt it will hold it's current value for long (reddit is driving it up). Don't count on it in your calculations, the supply is simply too full of freshly minted tokens.

Yes doge is good to mine on the side but I feel it will crash soon, hardly rise.

For now, it is going up pretty fast because of all the popularity, although I do agree that it could crash and go down, but probably not as quick as in a couple months, I think it can keep on going up or at least stay stable until mid-2022 even if it wont break a dollar, if it fluctuates around the current value, I can still make a good amount of profit, also LTC is also pretty profitable and is going up, so if Doge does crash, I can still make profit from LTC.

 

[Shrek]

It's not metered, I pay yearly and its managed by a company and not a landlord, They won't notice

Two units, $400 a month of electricity

They won't notice a $5,000 yearly increase in electricity usage?

 

[jakeslayer]

Two units, $400 a month of electricity

They won't notice a $5,000 yearly increase in electricity usage?

It's not metered per villa, they pay it all at once, which lowers the chances of them noticing, and if they do notice, they can't say anything, I already signed a contract, the only thing they can do is change the contract next year and make the rent not including electricity, but that's in about 330days so I'm not really worried.

 

[R-T-B]

Of your plan, I will say LTC is the safer part of the "bet."

 

[jakeslayer]

Of your plan, I will say LTC is the safer part of the "bet."

Yeah, LTC looks like its gonna go up in the upcoming years and I can save up the 1.37LTC I make a month and exchange it in some years, Also I'm probably gonna exchange the DOGE coins and not save them since chances are, Doge will just crash before late 2022.

One question though, Do you know anything about the PPLNS mining scheme, I believe it's what they use to reward you the DOGE coins, I tried researching about it but couldn't really find much, can the amount of DOGE you get rewarded change or anything?

Also, Do you think its safer to get one unit and spend the rest of the money on a GPU rig for example, just incase, LTC magically crashes and I can then use the rest of the money to try and mine other currencies, or should I just get two units?

 

[R-T-B]

can the amount of DOGE you get rewarded change or anything?

Yes. Essentially the amount of doge or ltc minted is always the same per unit of time. Thus the more miners there are mining for it the less each individual miner gets.

So no certainities about earnings sadly.

 

[trog100]

litecoin has gone up by over 50% in the last 30 days.. its been lagging behind and i think its due for a run...

i have 25 of them left over from 2017.. i did have fifty but i foolishly swapped half of them for neo..

i think litecoin is a solid bet its just been neglected..

all this waiting and wondering is costing the OP money but thats the way it is..

trog

 

[Space Lynx]

litecoin has gone up by over 50% in the last 30 days.. its been lagging behind and i think its due for a run...

i have 25 of them left over from 2017.. i did have fifty but i foolishly swapped half of them for neo..

i think litecoin is a solid bet its just been neglected..

all this waiting and wondering is costing the OP money but thats the way it is..

trog

I told you guys litecoin like a month ago and y'all were like nah. lol you should have listened bruh.

jk I have no idea, it was just a guess lol

I actually don't dislike any of you for the record. financial freedom allows for a lot of happiness in life. and you can't blame anyone really for trying to reach that goal. I just wish there was another way besides this one, that's all. I'm still tempted to mine but I have not done so yet. I'm still not sure its worth it really for a single 6800 non-xt. /shrug

 

[trog100]

I told you guys litecoin like a month ago and y'all were like nah. lol you should have listened bruh.

jk I have no idea, it was just a guess lol

I actually don't dislike any of you for the record. financial freedom allows for a lot of happiness in life. and you can't blame anyone really for trying to reach that goal. I just wish there was another way besides this one, that's all. I'm still tempted to mine but I have not done so yet. I'm still not sure its worth it really for a single 6800 non-xt. /shrug

it not worth it.. the gains will be minimal.. for real gains you have to chuck real money at it.. i aint knocking you here but i assume (like most people) real money is what you dont have..

trog

 

[jakeslayer]

litecoin has gone up by over 50% in the last 30 days.. its been lagging behind and i think its due for a run...

i have 25 of them left over from 2017.. i did have fifty but i foolishly swapped half of them for neo..

i think litecoin is a solid bet its just been neglected..

all this waiting and wondering is costing the OP money but thats the way it is..

trog

Thanks for the reply trog,

Do you have any idea if there is a more profitable miner than the Goldshell lt5 out there for around 6-7k USD?
Thanks.

Yes. Essentially the amount of doge or ltc minted is always the same per unit of time. Thus the more miners there are mining for it the less each individual miner gets.

So no certainities about earnings sadly.

Thanks for the reply,

Do you know any site that can calculate the profit of merged mining with LTC+DOGE, and if there isn't, I can calculate the current profit by just putting 2GH/s in a LTC Calculator and again in a DOGE Calculator and just add the profits, since my hashrate won't be split between the 2 coins if I'm merge mining, correct? (I think that's how it works, idek)
Thanks.

 

[R-T-B]

The main issue with thinking like that is your individual earnings can swing wildly based on market conditions and diffilculty.

The best advice I can give you is not to sell your coin immediately, but try to time it at highs. Other than doge, it's already at a high imo.

 

[Mescalamba]

DOGE is memecoin, and memes are strong and lasting.

Apart that, DOGE is a bit less stupid than it sounds.

DOGE each year distributes exactly same number of coins. Sounds like inflation, right? Well, thing is that even while it does that, it only doubles its amount by 50% in 26 years. Now guess how high was cumulative inflation of USD in past 26 years? 76% And future one wont be better at all.

Yea, DOGE has less inflation than USD.. Think about that.

 

[Space Lynx]

My friend on Steam who made about $300 off latest Dogecoin skyrocket said Robinhood the app paused trading/cashing out. lol So it will probably crash in price again before he can cash out... man what a great scam they all have going on. lol

edit: he said it came back up but was paused earlier.

 

[8BitZ80]

Voice of reason here. Not paying for the electricity yourself doesn't mean you won't be held accountable when monthly electricity bill goes through the roof. Owners always watch their bills and will flip out (and rightly so) when they see that. They'll be even more pissed off when they find out you're mining crypto and you're expecting THEM to foot the bill. That's the kind of stuff that gets tenants kicked out and solicitors sicc'ed onto them for restitution.

 

[Mescalamba]

My friend on Steam who made about $300 off latest Dogecoin skyrocket said Robinhood the app paused trading/cashing out. lol So it will probably crash in price again before he can cash out... man what a great scam they all have going on. lol

edit: he said it came back up but was paused earlier.

No sane person uses Robinhood for crypto. Or anything really.

 

[R-T-B]

No sane person uses Robinhood for crypto. Or anything really.

I mean a lot of people got burned on it with the GME stock thing, so I'd say people HAVE used it but now we know better, lol.

And yeah way better options exist for crypto.

Voice of reason here. Not paying for the electricity yourself doesn't mean you won't be held accountable when monthly electricity bill goes through the roof. Owners always watch their bills and will flip out (and rightly so) when they see that. They'll be even more pissed off when they find out you're mining crypto and you're expecting THEM to foot the bill. That's the kind of stuff that gets tenants kicked out and solicitors sicc'ed onto them for restitution.

I sort of went over that. He seems confident, he's been warned. Not much more to say.

 

[Mescalamba]

I never understood why ppl fell for using any website for crypto that doesnt allow you to actually OWN crypto. eTORO is exactly the same case.

Even for trading its better to own crypto and take it out of exchange if you wish so then not being able to do that.

Cause while you might never need it, you will definitely miss it at moment you do change your mind. Options are great thing, lack of them is really bad thing.

 

[Ruben945]

Hello,
I'm thinking of purchasing a Goldshell LT5 (2GH/s) from the July Batch (3.5k USD). Which I will use to merge mine LTC+DOGE. With the current difficulty, It can mine 1.37LTC a month, which in current value is 393USD, Since you get 2000 Dogecoins every 1 LTC mined, I'll be getting 3245 Doge a month which right now is around 600USD, so ROI is basically 3-4 months max, and doge looks very promising and can break 1$, LTC also doesn't look like it is going down anytime soon, so what could possibly go wrong? This is a good investment, right? Please correct me if I'm wrong in anything. BTW: I don't pay for electricity
(Also will probably get 2 of the miners for 7kUSD)

Thanks

hi i am also looking to buy the goldshell lt5 but i am unable to find it anywhere, would you be able to send me the link to which you bought it from.