by ldn_tech_exec1 on 10/16/13, 10:30 PM with 50 comments
by gibybo on 10/17/13, 12:23 AM
From this calculator: http://dustcoin.com/, you need about 60,000 KH/S to make $114 a day (excluding power cost). One of the most efficient $/hashrate GPUs for litecoin mining is the ATI 7950 at about $210 a piece and ~600 KH/s. 105 * 600 KH/s = ~60000 KH/s = ~$114, so it works out. That's $20,000. So if you spend $20,000 you can buy yourself a job that pays $114 a day. It will take 6 months just to break even. Better hope the difficulty hasn't increased enough in that time to make your GPUs irrelevant (hint: it probably will).
Keep in mind that I was very generously excluding the very significant cost of power, the very significant cost of all the motherboards/cpu/ram/power supplies to run those GPUs, and the power and space required to cool them. Realistically we're looking at more like $50k.
>“Currently I’m making about 60 litecoin per day,” he said. “I’ve kept 95% of the mining profit since April and once the major exchanges start accepting LTC, others will follow, and price is expected to soar. So that 60 LTC could turn into $1,500.”
This is absurd. If he thinks 60 LTC will be worth $1,500, he should spend the $20,000 he spent on GPUs on LTC instead. He'd turn $20,000 into $250,000 with no work required (another hint: assuming you can turn $20k into $250k in 6 months with no work as a sure thing is also absurd).
by acchow on 10/16/13, 11:46 PM
Uh...Power in the US costs 30+ cents/kWh? In which part of the country??
In Ontario, Canada, the price is about 6.7 cents/kWh during the night and peaks at 12.4 cents/kWh in the afternoon.
http://www.ontarioenergyboard.ca/OEB/Consumers/Electricity/E...
by ryandrake on 10/17/13, 12:02 AM
by hhandoko on 10/17/13, 12:58 AM
The only problem I see is the reliability of the electricity provider itself. There are frequent surges and parts of Jakarta are known to experience regular rolling blackouts.
by dobbsbob on 10/17/13, 1:38 AM
This might pay off mining 60LTC per day and hoarding them. The guy who started Litecoin now works for Coinbase, which may adopt Litecoin and will no doubt start a gigantic speculation bubble this Indonesian dude can cash out with http://www.wired.com/wiredenterprise/2013/08/litecoin/
by smsm42 on 10/17/13, 12:07 AM
by gbin on 10/16/13, 11:31 PM
source wikipedia: http://en.m.wikipedia.org/wiki/List_of_power_stations_in_Ind...
by warrenmiller on 10/16/13, 11:48 PM
by Dalkore on 10/17/13, 6:48 AM
by na85 on 10/17/13, 4:31 AM