There goes my mining project

[Butterfish]

I'm glad that i hesitated building my mining rig. Current price of LTC is at 13.49 12.70 USD. It was at 42 when i wanted to start.

 

Would it still be profitable or just plain silly?

[legopc]

you never know becaus it might be worth 100 dollar tomorow but it will probebly gain value in a few days 

[SirRoderick]

No one can possibly know right now from the looks of it. It's obviously crashing after that massive ballooning of bitcoin, but predicting where it might settle isn't easy.

[Butterfish]

I just checked the litecoin calculator and my hardware break-even has went from 50 days to 183 days. Hory sheet. 

[Butterfish]

No one can possibly know right now from the looks of it. It's obviously crashing after that massive ballooning of bitcoin, but predicting where it might settle isn't easy.

Even if it settles here it won't make much sense for me. I would break even at 183 days before seeing any profit with the value right now.

[SirRoderick]

Even if it settles here it won't make much sense for me. I would break even at 183 days before seeing any profit with the value right now.

I'm personally not bother putting so much time, money and effort into a mining rig...unless maybe if I had solar panels and more power than I needed.

[Osmium]

I'm personally not bother putting so much time, money and effort into a mining rig...unless maybe if I had solar panels and more power than I needed.

Solar panels are awful, it takes like 20 years to make back the cost in ideal conditions

[SirRoderick]

oops, darn double post

[SirRoderick]

Solar panels are awful, it takes like 20 years to make back the cost in ideal conditions

 

Depends entirely where you live and how efficient the panels are, not to mention subsidies. They were a very good investment over here, but they knocked down the subsidies last year and now it's a bit less appealing.

[ERSCreeper]

Back up too 14.1

[chillxnate]

I used to work in a technical support center where nearly everyone (but me of course) had a personal machine stashed under their desk mining BTC 24/7. I doubt the difference on their electric bill was noticeable.

[tobben]

Even if it settles here it won't make much sense for me. I would break even at 183 days before seeing any profit with the value right now.

the currencies are volatile... you can't invest in hardware based on what it's worth right now, everyone wanted to start mining because it increased in value, but the truth is, the people who gained money when the baloon started blowing up are the ones who had already been mining and stashing up coins beforehand, not the ones who jump onboard because it's currently worth something, at that point they are already to late.

 

you said your hardware would break even at 50 days then it went to 183 days, but do you think the difficulty and the value will stay the same for 183 days? or even 50 days? no! you can't expect to mine 1 coin at a time selling them one by one as you acquire them and make a steady profit that way, and this is why mining is always risky.

[Mac]

I'd still build one, mine some alt coins and trade into LTC or BTC to sell.