Cloud Mining News & Reviews

LTCGear 6th Share Multiplication x1.25 Complete! Back ONLINE!

LTCGear 6th Share Multiplication is BACK ONLINE after 6th Share Multiplication

LTCGear 6th share multiplication is now complete, and their website, which was OFFLINE yesterday, is BACK ONLINE again.

The multiplier for the 6th share multiplication was 1.25, meaning that existing LTCGear customers received a FREE 25% BONUS in their hash rate.

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The multiplier for the previous round of share multiplication was 1.35, there was a slight drop in the multiplier number.


1.25 Multiple Covers Litecoin Difficulty Increase of 125.8%

The reason for the multiplier being set at 1.25 is explained as 'based on Litecoin network difficulty variation over last one and a half month (from 33K to 41.5K) and available resources'.

The rise in Litecoin difficulty from 33,000 to 41,500 is 125.8%, so the 1.25 multiplier is adequate to compensate for the rise in difficulty levels.

Considering that these share multiplications are provided as a FREE services, we are more than happy with the 1.25 multiple for this round.


6th Share Multiplication Took Around 24 hours to Complete

LTCGear 6th Share Multiplication was scheduled to come back online at 11:00 GMT, but the announcement was changed to 01:00 GMT.

We believe the site came back online a little after 01:00 GMT on November 12th, 2014.

We're not sure exactly how long the down time was, but it was in the vicinity of 24 hours.


6,400 ASIC Shares in August Turned Into 10,800 ASIC Shares by November!

Originally, when we purchased our contracts back in August, we paid for 6,400 ASIC shares (we purchased 4 sets of 'ASIC Share 1K6X - Anniversary').

After the 5th share multiplication on September 24th, 2014, we had 8,640 ASIC Shares (as the multiple was 1.35).

As of today after the 6th share multiplication, we gained an extra 2160 ASIC Shares and now have a total of 10,800 ASIC Shares thanks to LTCGear's share multiplication feature.

LTCGear 6th Share Multiplication

We had paid $3,688 in August for 6,400 ASIC Shares or 640 MH/s, which is $5.76/MH/s.

But today, with 10,800 ASIC Shares or 1080 MH/s, our purchase price has been discounted to $3.41/MH/s over the past 3 months.


Next Share Multiplication Scheduled for December 24th, 2014

According to LTCGear, the next share multiplication is due to take place on December 24th, 2014, which is exactly 6 weeks from today.



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