Genesis Mining - Dash vs. Litecoin ...Which is most profitable?
Genesis Mining 3% off → yexP9u @ https://www.genesis-mining.com
Hello CryptoJunkies!
As you know, the crypto market has been rapidly increasing in the past month and mining coins are becoming a lot more profitable. Unless you have a dedicated A/C cooled room for an AntMiner or GPU rig your best bet is to cloud mine. If you feel the urge of mining and don't want all the headaches of putting together a rig, cooling, software setup...blah, blah, blah...then definitely go Genesis Mining.
Now, there's a lot of people saying Dash is the best coin to mine and I agree that it has been very profitable but, is this about to change since the price of Litecoin has increased and show no signs of it stopping anytime soon especially with Segwit activation just around the corner. Let's take a look and make a quick comparison!
Dash Mining Plan - 100Mh/s @ $500
Estimated Mined Coin - 0.9464 Dash/Month
Estimated Profit - $87.27/Month (1 Dash = $92.22)
Litecoin Mining Plan - 40MH/s @ $560
Estimated Mined Coin - 4.25 LTC/Month
Estimated Profit - $68.20 (1 LTC = $16.04)
OK...What I'm seeing is that for about the same price I can get 4x's the amount of Litecoin. Yes, it's true at the moment the price of Dash is higher than Litecoin but, what if the price of Litecoin doubles to say at least $30 (do you really think it will stay at $30?). Then the profit would be 4.25 x $30 = ($127.50). So, where do you think the price of Litecoin will be in a month from now or the price of Dash for that matter?
I think the more I can mine now the bigger the profits in the future. Hoard the damn thing and enjoy your profits later! :)
As soon as more people start to mine the difficulty will increase and that will yield less returns.
In conclusion, I believe Dash has been great and Litecoin is about to join the club so, why not get a head start!
Genesis Mining 3% off → yexP9u @ https://www.genesis-mining.com
Thank you for your analysis. I am not currently mining Litecoin through Genesis Mining. Your analysis has given me something to think about.
Have a great week!
Steem on,
Mike
Glad to shed some light Mike! Have an Awesome time!!
I'm not convinced that there is any money in cloud mining. All I ever hear is that people are usually better off just holding their money in crypto-currency and they make more than cloud mining.
Is this the case or what sort of returns are you likely to get? I assume a discounted cash flow analysis is hard to do as you need to predict how hard the future difficulty will get for miners.
I also wasn't convinced about cloud mining. Especially trusting cloud miners with my money. Hope this post helps out. Thanks for reading! https://steemit.com/mining/@coronamuzic/cloud-mining-vs-holding
Thanks for the link :)
You're welcome!
Okay so i havent done any mining for crypto yet at all and ive been debating whether to go for eth (stability), dash (profit and algorighim is better) or ltc (lot of room to grow....basically been having the same thought process as you). Since eth may change their algorithim, it kind of knocked it out the 3 options even tho i love ether and the ethereum network. I dont think dash is going anywhere i think its gonna be around and may or may not be actually used, but i guess the rumors and shit about premined nonsense with one of the founders got to me subconsciously ... just feel like litecoins growth thus far since i got into crypto earlier this year has been the most authentic ..... i think your post just led my thought process to finally choose ltc for now at least .... thanks for the post!
I'm also super excited about ETH there's amazing things cooking in the lab. One of the reasons i look into mining profitable coins is to trade some of those mined coins for ETH. We'll most likely see Litecoin go up in price in the next few days prior to segwit activation and a definite increase after that. Also, Charlie Lee is already working on getting Litecoin on Coinbase so, just imagine how much easier it will be for people to purchase Litecoin.... "Hell yeah!!". Thanks for reading and Happy mining!