LTCGear Review - Sept. 26th - Oct. 2nd Weekly ROI 23.59% - TOTAL ROI at 118.87% (USD) & 148.59% (LTC) in ONLY 6 Weeks and 2 Days！
Cloud Mining Service – LTCGEAR (Litecoin GEAR)
Number of Days Since Initial Purchase – 6 weeks and 2 days (as of today, Oct. 3rd, 2014)
Currency Mined – Litecoin (LTC) — however, this week's payout was paid in BTC, due to suspected system error
Contract Hash Rate – 864,000KH/s (originally, 160,000KH/s x 4 = 640,000KH/s (4 sets of ASIC Share 1K6X – Anniversary, products below) were purchased, but shares were 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. 3rd, 2014 − 1.9906972093 BTC (=173.1041051607 LTC) (23.59% weekly ROI (LTC))
TOTAL Earnings (LTC) as of Oct. 3rd, 2014 – 1,090.5284251607 LTC
TOTAL Earnings (USD) as of Oct. 3rd, 2014 – $4,383.92 (@ 1LTC=$4.020)
ROI (Return on Investment) (USD) as of Oct. 3rd, 2014 – 118.87%
ROI (Return on Investment) (LTC) as of Oct. 3rd, 2014 – 148.59%
LTCGear payouts on Oct. 3rd was 1.9906972093 BTC, which was 173.1041051607 LTC using the LTC/BTC exchange rate of 0.015 provided by LTCGear.
We had specified payouts in LTC under 'Coin choice' and had all 4 wallet addresses filled early this week, but payments came in BTC. We don't know why.
We suspect this was a systematic error as many users are reporting similar problems on Litecointalk.org.
There has been no announcement made regarding this issue at LTCGear, but we will update once we verify any official updates from them.
Payout came in on Oct. 4th, 2014, at 00:54 AM GMT.
After today's payout, our accumulated earnings from LTCGear is now at 1,090.5284251607 LTC.
We had purchase our mining contract with LTCGear on August 21st at $3,688, which was 733.9157429703 LTC at the time (1LTC=$5.0251), so our TOTAL ROI in litecoins is 148.59%! This is not bad for ONLY 6 weeks and 2 days of cloud mining!
We suspect we are not alone, and that there are many people who have purchased 'ASIC share 1K6X - Anniversary' at $5.76/MH/s using LTCGear's 'anniversary1yr' coupon that have already achieved 100% ROI just like us!
Our TOTAL ROI in terms of USD at 118.87% is not going nearly as well as ROI in LTC because the value of litecoin has gone down from $5.0251 to $4.020.
This is a drop of 20% in LTC value, but we try not to worry about returns in USD at this point as our investments are meant for the long term, and we believe that cryptocurrencies as a whole, including LTC, will continue to rise in value despite short term fluctuations.
Despite this week's suspected payment currency error (we were paid in BTC instead of LTC, which was our 'Coin choice'), we are still very happy with our cloud mining results at LTCGear.
LTCGear may have its shortcomings here and there, but at the end of the day, we believe that their amazing results speak for themselves!