Cloud Mining Earnings

Litecoin GEAR (LTCGear.com) - Sept. 19th Payout - Total ROI at 87.86% (USD) & 104.38% (LTC) in 4 Weeks and 2 Days!

2014/11/07

ltcgear

Cloud Mining Service – Litecoin GEAR (ltcgear.com)

Number of Days Since Initial Purchase – 4 weeks and 2 days (as of today, September 20th, 2014)

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Currency Mined – Litecoin (LTC)

Contract Hash Rate – 160,000KH/s x 4 = 640,000KH/s (4 sets of ASIC Share 1K6X - Anniversary)

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 – Weekly (every Saturday) → this week, pay out was conducted one day earlier, on Friday, September 19th, 2014

Amount Purchased – 3,688USD (approx. 733.9157429703 LTC @ 1LTC=5.0251 USD)

Time Purchased – August 21st, 2014

Earnings (LTC) as of September 19th, 2014 – 766.02668LTC

Earnings (USD) as of September 19th, 2014 – 3,260.07USD (@ 1LTC=4.23USD)

ROI (Return on Investment) (USD) as of September 19th, 2014 – 87.86%

ROI (Return on Investment) (LTC) as of September 19th, 2014 - 104.38%

Litecoin GEAR Results -September 19th, 2014 payout for 7 days of mining between Sept. 12th - 18th was 147.39535LTC, after transaction fees of 0.010602 LTC were deducted.

Although on the 'Farm Payments' page stated 1-5 hours for payout processing, we received the payouts more than 10 hours after 'Farm Payments' page was updated.

Delays like this are rather common with Litecoin GEAR, but we've learned to perceive these as one minor weakness of the business, which is overshadowed by its strength as the most competitive litecoin cloud mining company in terms of price per MH/s (or KH/s).

 

We were expecting to see 100% ROI this week, following last week's ROI at 88.40%, we actually ended up with a LOWER ROI than last week in dollar terms, at 87.86%!

This is due to the price of litecoin plummeting from approximately 5.27USD last week to 4.23USD.

This is a 20% drop in price in 1 week, and it had a huge impact on our yield, which we calculate using USD, based on market rate every week.

Since we believe in the long term potential of cryptocurrencies and in litecoin, we prefer to hold on to our litecoins than to convert them each week to finalize our returns in dollar terms.

For this reason, litecoin price fluctuations can have a big impact on our ROI calculations.

Calculated in litecoins, however, our purchase of 3,688USD was 733.9157429703 LTC using the exchange rate on the day of purchase (1LTC=5.0251 USD) and our payouts at this point have accumulated to 766.02668LTC, so it's fair to say 100% ROI was achieved in litecoin terms, and that we got our money back.

We can also say that if one were to buy litecoins through a mining contract at Litecoin GEAR or through an exchange, he/she would have gotten more litecoins by going to Litecoin GEAR as of August 21st, 2014.

The price decline of litecoin is a shocker, but we are confident that in the long run (and we are thinking 5 years+), litecoin price will rise to levels much higher than the recent high of 50USD, so we try to focus on the big picture.

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