The future of POW altcoin mining

[Stompix]

As of today, it seems Aleo mining will be a thing for a year or so. Goldshel is about to release a new ASIC miner in June this year, and the profitability is about $19 today, according to asicminervalue https://www.asicminervalue.com/miners/goldshell/e-ae1m

It was over $75 a few months ago, and the coin is not performing at all after the fomo of being the new Kaspa, it's down about -97% 
Probably the same tactic, launch a pow coin, pump it to the sky, have an already built asic standing by, sell that also, repeat.

[God Of Thunder]

It was over $75 a few months ago, and the coin is not performing at all after the fomo of being the new Kaspa, it's down about -97% 
Probably the same tactic, launch a pow coin, pump it to the sky, have an already built asic standing by, sell that also, repeat.

I feel like those ASIC miners are behind those altcoins. They just create a new coin, then release some ASIC miners that can be used to mine these coins, and the market dumps gradually, and the profitability decreases once those miners join the network. That could be a business strategy for them. But we don't know if they are reallyng this shit.

[philipma1957]

Only scrypt is viable and been viable for a l I no longer long ltime.

Mostly because the hash rate is huge. The values are high and pump and dump would be too costly to do.

[God Of Thunder]

Only scrypt is viable and been viable for a l I no longer long time.

I did not understand this line. You probably wrote from your mobile, which is why it's messed up.

I just checked that at least 11 coins can be mined through ASIC miners that can mine the Scrypt algorithm. I don't know which coin gives the most profit, but it seems Doge and Litecoin are the most popular coins that miners mine with their ASICS. It seems like DOGE is the most profitable among the other Scrypt algo minable coins.

[ABCbits]

Only scrypt is viable and been viable for a l I no longer long time.

I did not understand this line. You probably wrote from your mobile, which is why it's messed up.

I just checked that at least 11 coins can be mined through ASIC miners that can mine the Scrypt algorithm. I don't know which coin gives the most profit, but it seems Doge and Litecoin are the most popular coins that miners mine with their ASICS. It seems like DOGE is the most profitable among the other Scrypt algo minable coins.

To be exact, you can mine LTC and DOGE at same time with Scrypt ASIC. It's possible due to merged mining mechanics, which is reason some website says LTC+DOGE mining.

[God Of Thunder]

To be exact, you can mine LTC and DOGE at same time with Scrypt ASIC. It's possible due to merged mining mechanics, which is reason some website says LTC+DOGE mining.

Yeah, I knew that. But since I am not a miner, I don't know how it actually works.
As I can see, Doge is the most profitable coin to mine with Scrypt ASIC's and I think the merged mining won't drop the profitability. I checked a specific model yesterday that is able to mine 66 Doge a day, and when it comes to LTC, it can mine only 0.017 LTC, which is too low. I assume the Miners prefer Doge first and then LTC.

[Cornpetitor]

Hiya guys!

I have an opportunity to get two Bitmain Antminer L7 for "pennies on the dollar." I know that's 2021-2022 mining equipment in question, but does it make sense to give it a go in relation to Scrypt ASIC mining, more so since I have solar panels and energy stored in batteries as a buffer?

I feel like the math is mathing, but still, I feel like that's not a good reason to take them.

[ABCbits]

Hiya guys!

I have an opportunity to get two Bitmain Antminer L7 for "pennies on the dollar." I know that's 2021-2022 mining equipment in question, but does it make sense to give it a go in relation to Scrypt ASIC mining, more so since I have solar panels and energy stored in batteries as a buffer?

I feel like the math is mathing, but still, I feel like that's not a good reason to take them.

Without more details, we can't give good suggestion. For example,
1. What is exact price for each of Antminer L7?
2. How long those L7 can run on solar panel, considering sunny hours on place you live and amount of electricity can be stored?

[Stompix]

As I can see, Doge is the most profitable coin to mine with Scrypt ASIC's and I think the merged mining won't drop the profitability. I checked a specific model yesterday that is able to mine 66 Doge a day, and when it comes to LTC, it can mine only 0.017 LTC, which is too low. I assume the Miners prefer Doge first and then LTC.

You don't mine Doge or LTC, you mine DOGE+LTC.
That's why LTC hashrate is 2.36 Phash/s and Doge is 2.44 Phash/s despite LTC's daily reward being 300k compared to 2.4 million for Doge.

[God Of Thunder]

You don't mine Doge or LTC, you mine DOGE+LTC.
That's why LTC hashrate is 2.36 Phash/s and Doge is 2.44 Phash/s despite LTC's daily reward being 300k compared to 2.4 million for Doge.

I got it. Yeah, I understand that part, as Phil also explained in one of his posts. So even if LTC is not profitable, people still mine it because they don't need an extra machine to do so. They do merge mining, and all the LTC reward comes as a bonus with Dogecoin mining. So yeah, I understand that part clearly.

[Stompix]

So even if LTC is not profitable, people still mine it because they don't need an extra machine to do so. They do merge mining, and all the LTC reward comes as a bonus with Dogecoin mining.

This is the thing, it's not that simple..
For example, if LTC were to go to zero, it would also affect DOGE hashrate, it would go down by the % the LTC reward is in.
Let's assume DOGE gets killed, LTC will just survive with how much hashrate they can get with their reward.

Both of them are profitable, it's much like real mining, mining just the iron can be only slightly profitable, but the by-products like cobalt can be the difference between keeping the mine alive or not.

The thing overcomplicated itself over long run since LTC is a fixed supply while Doge is not...