November 7th, 2014 LTCGear (Litecoin GEAR) Payouts 156.56606 LTC or $553！TOTAL ROI 183.00% (USD), 260.51% (LTC) in 11 Weeks & 2 Days！
Nov. 7th, 2014 Cloud Mining Payout at LTCGear Was 156.56606 LTC or $553
1 ASIC Share at LTCGear mined 0.01812145 LTC for the period of Oct. 31st-Nov. 6th, 2014.
As we own 8,640 ASIC Shares, our earnings were 156.569328 LTC for the week, and the actual payouts we received were 156.56606 LTC. The difference of 0.003268 LTC is most likely the transaction fee.
AT 1LTC=$3.53, the current price of LTC at the time of this writing, 156.56606 LTC=$552.68, or $553.
Our previous payouts from since the beginning of our 'ASIC Share 1K6X - Anniversary' (4 sets) contract at LTCGear, which began in late August, are as follows:
October 3rd payout came in BTC due to system error as Coin Choice was not working as smoothly as it is today.
As you can see, LTCGear payouts have remained quite steady since we purchased their mining contract in late August.
For a detailed report on weekly payouts at LTCGear, check our our LTCGear Payout page.
Average Difficulty for Oct. 31st-Nov.6th at LTCGear was 38,879
Average difficulty is steadily rising and for Oct. 31st-Nov. 6th, average difficulty at LTCGear was 38,879, a 4% increase from the previous week.
Average difficulty trends on LTCGear's Farm Payments page have been as follows:
Oct. 10th-Oct. 16th : 36,019
Oct. 17th-Oct.23rd : 36,369 (+1%)
Oct. 24th-Oct. 30th : 37,489 (+3%)
Oct. 31st-Nov. 6th : 38,879 (+4%)
Payouts are in line with difficulty levels at LTCGear, so as difficulty rises, payouts decrease.
Litecoin difficulty has been rising and will most likely continue to rise with advancement of mining gear.
But thanks to Litecoin GEAR's FREE share multiplications every 6 weeks, our payouts have not been affected by the rise in difficulty.
For example, this week's payout was less than last week's due to difficulty increase, and next week's will most likely be lesser than this week's payout, but because share multiplication is taking place on Nov. 8th, 2014, our payouts next week are most likely to surpass this week's unless difficulty jumps up in the upcoming week.
There could come a time in the future though when Litecoin GEAR's share multiplications fail to catch up to the speed of difficulty increase, in which case our payouts will decrease.
TOTAL Payouts from LTCGear is 1,911.9127151607 LTC or $6,749 in 3 Months
Since we began cloud mining with LTCGear, we have mined a TOTAL of 1,911.9127151607 LTC, which is $6,749 at the current price of 1LTC=$3.53.
We purchased our cloud mining contracts for $3,688, so mining $6,749 worth of Litecoins after less than 3 months is very good! It's a 183% ROI in terms of USD.
If Litecoin price goes up in the future, ROI as measured in USD is bound to skyrocket.
If we think in terms of Litecoins, had we chosen to BUY Litecoins instead of cloud mine them at LTCGear as we chose to, we would have had 733.9157429703 LTC in hand as the price of 1LTC=$5.0251 back then.
Instead, we have 1,911.9127151607 LTC, so this is essentially an ROI of 261% (LTC) in less than 3 months!
We're Very Happy with Our LTCGear Results! But, We Need to Diversify!
Another week of happy payouts from LTCGear!
We're grateful that our cloud mining contracts at LTCGear are working out, and hope they continue to remain competitive over a long time.
We're also looking forward to the share multiplication that is scheduled o take place on Nov. 8th, 2014, GMT.
While we're happy with the way things are going, we also see a strong need for diversification as stated in our October 2014 Cloud Mining Earnings.
Currently, more than 90% of our funds are with LTCGear, but we want to start allocating more funds to other cloud mining companies.
We will continue to monitor new services/companies to diversify our earnings to, and will update details here on this blog.
Our Cloud Mining Basic Data for LTCGear (Litecoin GEAR)
Cloud Mining Service – LTCGEAR (Litecoin GEAR)
Number of Days Since Initial Purchase – 11 weeks and 2 days (as of Nov. 7th, 2014)
Currency Mined – Litecoin (LTC)
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% DISCOUNT, but then shares were further multiplied by courtesy of Litecoin GEAR on Sept. 24th, 2014, to compensate for rising levels of difficulty. They will be multiplied further on Nov. 8th, 2014, GMT.)
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
Amount Purchased – $3,688 (approx. 733.9157429703 LTC @ 1LTC=$5.0251 at the time)
Time Purchased – August 21st, 2014
Weekly Payouts (LTC) on Nov. 7th, 2014 − 156.56606 LTC (21.33% weekly ROI (LTC)
TOTAL Payouts (LTC) as of Nov. 7th, 2014 –1,911.9127151607 LTC
TOTAL Payouts (USD) as of Nov. 7th, 2014 – $6,749.05 (@ 1LTC=$3.53 on BTC-e.com)
ROI (Return on Investment) (USD) as of Nov. 7th, 2014 – 183.00%
ROI (Return on Investment) (LTC) as of Nov. 7th, 2014 – 260.51%