I have recently been told by many crypto-mining pros that I "missed the mining train". Refusing to accept this as reality I began researching various ASIC bitcoin miners. I soon realized that the profit margins have become very small. While on the hunt I discovered ASIC miners for litecoin and I was very impressed by their potential ROI.
So as any critical thinker must do, I began trying to find the flaws in litecoin and the problems associated with mining it. I found none. In fact I found quite the opposite. The major factor to me that sets litecoin apart from bitcoin is the fact that it is significantly faster and more cost efficient to send transactions.(1) This is due to the fact that litecoin has been used, as far as I know, as a testing ground for SegWit2x and lightning network transactions. Please correct me on that if I am wrong.
The most profitable ASIC scrypt miner, that I managed to find, boasts 504 MH/s @800 watts(2) and at current prices could give you ROI in approximately 60 days. This is including an average approximation of shipping, electricity, and power supply costs. As well as pool fees.(3)
Is this sounding too good to be true? Obviously the difficulty will rise and you can expect to see your days to ROI extend a bit. And then there is actually acquiring said miner in a timely manner, which could cost a lot buying from a third party distributor. Direct from the manufacturer the latest batch of these units, which ship in late September, are currently sold out. (2)
So did I miss the train? Is litecoin a good choice to start mining? Lets hear what you think of litecoin mining!
(1) http://www.coindesk.com/information/comparing-litecoin-bitcoin/
(2) https://shop.bitmain.com/antminer_l3_litecoin_asic_scrypt_miner.htm?flag=overview
(3) https://www.coinwarz.com/calculators/litecoin-mining-calculator/?h=504000.00&p=800&pc=0.10&pf=1.00&d=279350.51414201&r=25.00000000&er=0.01926000&btcer=2232.79620000&hc=2200