Litecoin Gear Coupon 'anniversary1yr' 49% OFF Results！Oct. 10th Weekly ROI 22.65%, TOTAL ROI 126.4% (USD) & 171.24% (LTC) in 7 Weeks and 2 Days！
Cloud Mining Service – LTCGEAR (Litecoin GEAR)
Number of Days Since Initial Purchase – 7 weeks and 2 days (as of today, Oct. 10th, 2014)
Currency Mined – Litecoin (LTC) — this week's payout came in LTC fine; reason for last week's payment in BTC not known as of today (we contacted Support, but they weren't able to provide a specific reason)
Contract Hash Rate – 864,000KH/s or 864MH/s (originally, 160,000KH/s x 4 = 640,000KH/s (4 sets of ASIC Share 1K6X – Anniversary, products below) were purchased, using 'anniversary1yr' coupon for a 49% OFF, but then shares were further multiplied by courtesy of Litecoin GEAR on Sept. 24th, 2014, to compensate for rising levels of difficulty)
Contract Length – 1-Year (although 2nd year costs will only be 5-20% of 1st year costs, to cover for electricity and hosting costs)
Payout Frequency – Every Friday (Originally payouts were on Sunday, and they were shifted to Saturday, but now, the date appears to have been fixed for Friday)
Amount Purchased – $3,688 (approx. 733.9157429703 LTC @ 1LTC=$5.0251 at the time)
Time Purchased – August 21st, 2014
Weekly Earnings (LTC) on Oct. 10th, 2014 − 166.24961LTC (22.65% weekly ROI (LTC))
TOTAL Earnings (LTC) as of Oct. 10th, 2014 – 1,256.7780351607 LTC
TOTAL Earnings (USD) as of Oct. 10th, 2014 – $4,648.19 (@ 1LTC=$3.6985 on BTC-e.com)
ROI (Return on Investment) (USD) as of Oct. 10th, 2014 – 126.04%
ROI (Return on Investment) (LTC) as of Oct. 10th, 2014 – 171.24%
Weekly payout for the period of Oct. 3rd through Oct. 9th, 2014 came in from Litecoin GEAR at about 10:30PM on Oct. 10th, 2014.
We received 166.24961 LTC, which was in line with our calculation of 166.25304 LTC, with a difference of 0.00343 LTC, which we believe is the transaction cost between wallets.
As of today, our initial investment of approximately 733.9157429703 LTC on August 21st, 2014, has turned into 1,256.7780351607 LTC, in Litecoins paid up in our wallet!
This is a return of 171.24% in less than 2 months, WITHOUT taking into account the value of the principle - the mining contract of 864MH/s, which we believe is worth more than our purchase cost of $3,688 in the current second hand market for Litecoin GEAR contracts.
Returns in dollars is more conservative at 126.04% since Litecoin value has gone down from $5.0251 at the time of purchase to $3.6985 today. However, it's comforting to know that if we decided to liquidate all of our Litecoins for US Dollars today, which we don't plan on doing at all, we would stilll be up 126.04%.
To read more about weekly results leading up to this week, check out our previous reports:
Needless to say, we are VERY happy about these results!
While we enjoy our great returns, based on our September 2014 cloud mining earnings, our current agenda is to diversify our investments going forward.
So, we are looking at new mining contracts and giving a test trial run on a small scale here and there. Details will be updated on this blog.