Who are the rip off merchants selling Antminer L3+ machines for over 4000 USD

in #litecoin7 years ago

Any one into Litecoin mining? Well if you are don't fall for purchasing an Antminer L3 or L3 + on eBay, Amazon or whatever for the prices they want. The simple Maths (or Math if you are American) is that unless you got one from Bitmain for the original price of 1370 USD (L+ version) you have absolutely no chance of making any money or ROI. I cannot believe that there are people and organisations out there trying to get 4000 USD all the way up to 9000 USD for these.

Look at the facts - with a current difficulty of 394147 and a hash power of 505 MHS and electricity at 15 cents per kwh you are at best going to make yourself around 19 coins in the first month worth around 690 USD after electricity costs. The trouble is that diminishing returns rapidly set in from there on. Following month with a predicted difficulty of 550,000 your profit will drop to 470 USD. The following month 350 USD and so on. This of course required Litecoin to keep its current value of 40 USD. Even if you get one at the original price you will struggle to make any money on it. If you buy one from the rip off merchants out there today who go out of their way to get it early just to rip you off (with no interest in mining) then you are truly going to be screwed.