Crypto News - Litecoin difficulty about to skyrocket as Bitmain released another batch of scrypt miner

Bitmain, the behemoth of the crypto mining space, is about to launch their next batch of Antminer L3+. A scrypt miner designed using their latest technology. This miner runs a mere 800watts with 504MH/s output (1.5 watts per MH/s). This is a massive step compared to the previous top of the line Gridseed G-Blade producing 5MH/s at 140watts (28 watts per MH/s).

Before this was created the network was fairly well distributed and has been around for some time. One gridseed would produce 28c to 50c per day. With the release of these miners out of Bitmain, larger companies will likely jump on large orders, sending the difficulty skyrocketing as we have seen in bitcoin when their miners started to flood the market. This also means that there will be a move toward centralising the mining around the initial purchases. After these have been aro.und for a while and the producers have made their cut we are likely to see the output in USD terms settle back to that 50c per day mark on the new industry standard miner while the girdseed gets reduced to 0.5c per day - these presume the price of litecoin doesn't skyrocket to combat this drop.

On the flip side an increase in the hash rate and the elevated purchase of mining hardware could cause the price to rise as miners demand more for their newly mined coins.

In order to profit from these miners one would need to be one of the first in on these purchases to milk the low difficulty and their new found output compared to the rest of the network.

The announcement:
https://twitter.com/BITMAINtech/status/905402104457527297

More info:
https://shop.bitmain.com/antminer_l3_litecoin_asic_scrypt_miner.htm?flag=specifications

As for me, my girdseeds have served me well for a year or so. Might be time to consider retiring them in the near future but we will see. Also time to hodl those scrypt coins (my few litecoin).

Comments welcome. You should make your own decisions or contact professionals. I am not liable for any conclusions or decisions made from reading this post or links. This is general conversation only.