1. OCAU Merchandise is available! Check out our 20th Anniversary Mugs, Classic Logo Shirts and much more! Discussion in this thread.
    Dismiss Notice

Litecoin mining LTC/FTC/DGC/ETC (Do not offer items for sale in this thread)

Discussion in 'Blockchain & Cryptocurrency Mining' started by ernie, Apr 3, 2013.

  1. 426

    426 Member

    Joined:
    May 15, 2008
    Messages:
    241
    Location:
    Melbourne
    I too have solar, about 5kw (pretending 100% efficient) with a premium feed in.

    In Victoria you don't get credited for generating, only for what you feed back to the grid.

    If you're not mining, and use the "average" amount of electricity for a regular household, sure, you could have close to free electricity, on a premium tariff, good luck with that on the standard tariff.

    I haven't fed anything in (hence no credit) for months. Best I can get is an offset on daytime use, which, is still better than nothing.

    It would want to be a mighty solar array to get free power, for mining purposes.
     
  2. 426

    426 Member

    Joined:
    May 15, 2008
    Messages:
    241
    Location:
    Melbourne
    Same. Ducted everything, use the washer/dryer/5 PCs all going for long stretches during the week.

    Over the course of a year, we would pay almost nothing for the electricity and often generate enough credit to cover the gas bill.

    This is just for normal use. As mentioned above, mining changes this dynamic, in a huge way. Credit will not apply (in Vic anyway) if you don't feed back to grid.

    But yes, absolutely solar is a great investment, for just about anybody.
     
  3. koss

    koss Member

    Joined:
    Mar 6, 2009
    Messages:
    8,012
    Location:
    Vic
  4. ikonz0r

    ikonz0r Member

    Joined:
    Dec 23, 2001
    Messages:
    2,550
    Location:
    Brisvegas
    any solidity programmers looking for some work? ez projects. can pay in crypto lol :cool:
     
  5. koss

    koss Member

    Joined:
    Mar 6, 2009
    Messages:
    8,012
    Location:
    Vic
    Anyone doing PoS coins, or have they fallen out of favor?
     
  6. Smoothie

    Smoothie Member

    Joined:
    Oct 12, 2003
    Messages:
    600
    Location:
    Bendigo, Vic
    Wow, that is definitely a tidy little money maker there.
     
  7. Seeker

    Seeker Member

    Joined:
    Jan 30, 2005
    Messages:
    1,285
    Location:
    Lathlain WA 6100
    I was mining at this time.. the difficulty was about 700. Its 450k now. I stopped early 2014 and sold 800 coins at $2.20. Welp!
     
  8. mesaoz

    mesaoz Member

    Joined:
    Jan 15, 2015
    Messages:
    8,257
    Location:
    South East QLD
    Not sure if this is the right place, what do you guys use to exchange LTC to BTC?
     
  9. Smoothie

    Smoothie Member

    Joined:
    Oct 12, 2003
    Messages:
    600
    Location:
    Bendigo, Vic
    shapeshift
     
  10. nic55

    nic55 Member

    Joined:
    Dec 29, 2005
    Messages:
    150
    Coinspot or Poloniex
     
  11. mesaoz

    mesaoz Member

    Joined:
    Jan 15, 2015
    Messages:
    8,257
    Location:
    South East QLD
    LTC surging right now?
     
  12. shredder

    shredder Member

    Joined:
    Dec 26, 2001
    Messages:
    13,969
    Location:
    New Zealand
    The pump's been going for hours. It will run out of momentum at some point. Careful not to buy late into a spike, if you're looking to short term profit. Of course if you're going long term and expect LTC to keep going up in the bigger picture, then have at it.

    Recommend inspect the Ripple charts and look at it's building momentum on both the fiat and BTC sides, over the course of today. That's what I'm watching for the next potential breakout amongst the big pairs. I feel that, unless BTC gets another rocket up it's ass and soon, then Ripple pump is inevitable. Don't take my word for it though, draw your own conclusions.
     
    Last edited: Dec 12, 2017
  13. mesaoz

    mesaoz Member

    Joined:
    Jan 15, 2015
    Messages:
    8,257
    Location:
    South East QLD
    Nah not buying anything, looking to move some of my ltc profit back into BTC and withdraw my initial outlay from a couple months ago..

    coinbase though are absolute scum, they want $20 to transfer $50 worth of coin... nearly half the value of what I want to move.

    Gonna try the free coinbase to gdax transfer and hopefully get a more reasonably transfer fee. Beginners mistakes are fun.
     
    Last edited: Dec 12, 2017
  14. shredder

    shredder Member

    Joined:
    Dec 26, 2001
    Messages:
    13,969
    Location:
    New Zealand
    Yeah you can't shift things around at that scale. Not without first exchanging into an alt with super low fees. Then sell on the other end back into what you want, you know. Could take a hit in the meantime o course.

    Watch out for minimum deposit requirements too (in the rules of individual exchanges). Some coins you need to deposit a minimum amount, at some exchanges. Else you could find your bit stuck until you deposit more of the same.

    Dare I say Ripple (lol) is fast and with low fees.
     
    Last edited: Dec 13, 2017
  15. Smoothie

    Smoothie Member

    Joined:
    Oct 12, 2003
    Messages:
    600
    Location:
    Bendigo, Vic
    fuuuuuu 300% return since may.. feelsgoodman. Still holding.
     
  16. lxboston

    lxboston Member

    Joined:
    Jan 11, 2005
    Messages:
    746
    Location:
    Bayside, Melbourne
    You were right about ripple up 75% today.
     
  17. shredder

    shredder Member

    Joined:
    Dec 26, 2001
    Messages:
    13,969
    Location:
    New Zealand
    Yeah the signals were pretty clear on this one. Congrats if you got any profit from it. :) I have some, not a great deal - I'm wary of trusting even my own predictions in this game, as everyone should be!

    I expect XRP pump will run out of steam in about 24 hours, 48 hours max - unless there's some earth shaking big announcement. D-Day is Friday US time. But it won't go back down to the old levels of a week ago, they're done, the market's moved up for the time being.
     
    Last edited: Dec 14, 2017
  18. Doobs

    Doobs Member

    Joined:
    Mar 26, 2002
    Messages:
    615
    Location:
    Geelong, Victoria
    I'm contemplating selling half my ripple I got ages ago, but I'd set a $1 sell limit. I'd still make a good profit if I sold today though...
    Ahhh, I am so bad at this buy and sell stuff
     
  19. shredder

    shredder Member

    Joined:
    Dec 26, 2001
    Messages:
    13,969
    Location:
    New Zealand
    Consider the possibility of setting a stop limit at say -15% of where it is now - to sell in case of a crash, but hopefully still take profit (?) - then waiting 24 hours to see where it goes. IMHO there is little market appetite for it to drop back substantially today.
     
    Last edited: Dec 14, 2017
  20. Doobs

    Doobs Member

    Joined:
    Mar 26, 2002
    Messages:
    615
    Location:
    Geelong, Victoria
    Yeah i picked it up when it was $0.11 so even at -15% would be good
     

Share This Page

Advertisement: