LTC Miner Update #4 - Tales From The Crypt(o) -or- Some Like It Cheap!
The price of LTC is--like many coins, futures, stocks, hopes, and dreams--falling like a lead chicken trying to fly. Could this be the downfall of the LTC mining project? Will the price cut so deep I might have to pay for come of my electric out of pocket? Find out in this chilling installment of Tales From The Crypt(o).
This is the situation in a nutshell: With the price at a flat $50, the miners will pay all but about $22 of their monthly usage. THey've already accumulated more than their share, so this is not really an issue as far as the miners' share since they've well exceeded what they've used; however, it may mean I have to pay a portion of the electric over what the miners use. I'm not calling that concrete this early. Remember, the bill doesn't come due until the 24th which leaves plenty of time for fluctuation, but will we see another rise before then? I'm not 100% certain, but I think so. If not in time, I'm still a hodler and I'll hang on and dip into the reserves outside of the project to pay soem of the electric before I cash out everything at a ridiculous price point. Even if that were to happen, I still know that I will be ahead in the end.
The next issue is my favorite. I've been attacked on another social media platform because there are some people who will do a five-minute internet search on something they vaguely understand and assume, without all available data or even first-hand exposure to information, and assume they're popcorn R&D session has debunked a project built by an engineer with two years of imperical data. This individual runs GPU miners--it is fairly important to note that--and is under the impression that my Bitmain L3+ ASIC miners cannot possibly produce enough heat to heat my house.
Today, it is 80 degrees (F) in my house with all of my windows open and my wife has informed me that not only is she alright with me tearing the basement up and making all kinds of ruckus building the new ventilation/exhaust system, but also that she would prefer I put a rush on it. So, expect those pictures I talked about a bit sooner than even I expected.
