I did a rough calculation and it seemed too good to be true. I would get a total return of $3500, a net profit of $987 while only investing $1700 (Almost 60% net profit!!!) accounting for electricity, depreciation, and increased difficulty (using data extrapolated for the previous 12 month) if I leave my machine on for a year.
This is more than the return gained from investing in the stock market. Shareholders are considered very lucky (or very skilled) if their shares increase by 50% per year.
So wouldn't this cause more people to come in causing it to become less and less profitable? If so, should I still purchase a Litecoin mining rig? What are your thoughts?
This is more than the return gained from investing in the stock market. Shareholders are considered very lucky (or very skilled) if their shares increase by 50% per year.
So wouldn't this cause more people to come in causing it to become less and less profitable? If so, should I still purchase a Litecoin mining rig? What are your thoughts?