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RE: #2 GPU Mining Guide. How to make a profit Beginners and Advanced users

in #mining7 years ago

I personally dont recommend buying hash. Litecoin is not the most profitable by a very long way. You are better of buying LTC directly as renting hash relies on teh price of the coin going up to make money.

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WIll give the step by step that I am using: (Not saying that you guys should do this)
1- buy an L3 machine on hashnest.com for $ 3600
2- Wait the L3 stock run out (usually takes 5 days to the stock run out)
3 - After the stock runs out ...let it mine litecoin for 10 days
4- After 10 days the price of the hashpower on the market doubles ...then u just sell the L3 that you purchase for 3600 for 7200. (You will have 100% profit + the 10 days mining litecoin)
5 - Wait the stock of L3 to be available again and this time you will purchase 2 L3 and do the same procedure.
6- repeat the process

Check it out: https://steemit.com/cryptocurrency/@virtualcoin/get-rich-with-litecoin

Sorry man I just don't have any interest in get rich quick schemes or things that requires risk and coin price to magically go up. This just doesn't sound plausable. If it is I wish you luck.