Cloud Mining Earnings

Scrypt Coin Cloud Mining - Our 1st Account with Genesis Mining (2MH/s for $360) - TOTAL ROI at 35.88% After 4 Months and 8 Days!3 Things We Learned From Our Bad Investment!


Scrypt Coin Cloud Mining

We have been updating our 2nd investment (Account 2) with Genesis Mining, which has been doing well, with a return on investment of 17.01% on our 100MH/s Diamond Plan after only 17 days of scrypt cloud mining.

However, we have not been updating the status quo of our 1st Account with Genesis Mining, with which we purchased 2MH/s for 0.73070853BTC or $360 on May 21st, 2014.

Sponsored Link :

This initial investment (Account 1) has NOT been going well, and it taught us several important lessons.

When we purchased this account, we were allocating 50% of our mining capacity to bitcoin and 50% to litecoin.  Our initial payout on May 20th, 2014 was 0.00245074 BTC for 50% of mining power, meaning had we concentrated 100% of our mining power to BTC we would have received double the amount, or 0.00490148 BTC.

Scrypt Coin Cloud Mining

0.00490148 BTC is 0.67% of our 0.73070853 BTC investment, so we thought things were going all right.

After 1 month, we had focused 100% of our mining power to BTC, and we were still receiving 0.00488727 BTC, which is a daily ROI of 0.67%.  While payout fluctuations were quite large during this time, and a bad day would yield less than 0.0003 BTC, a good day, like this one, wasn't that far off from what we had received on Day 1 of mining operations.

Scrypt Coin Cloud Mining

We hoped that these 'good days' would continue.  But, we were proven wrong.

By the 2nd month of cloud mining on July 21st, 2014, we were only getting 0.00124326 BTC.  This is a daily ROI of 0.17%, a significant drop from a daily ROI of 0.67% the month before.

Scrypt Coin Cloud Mining

But, this was not the end, and daily ROI kept dropping further.

By the end of the 3rd month on Aug. 21st, 2014, our payout was at 0.00076943 BTC, which translates to a daily ROI of 0.11%!  By this time, we could see that achieving 100% ROI was not going to be possible with the plan we were on.

Scrypt Coin Cloud Mining

Surprisingly, the payout at the end of the 4th month was 0.00081422 BTC, slightly higher than the previous month's payout.  Although daily ROI was at 0.11%, reaching 100% ROI was not going to be realistic due to the gradual fall in payouts which was still anticipated.

Scrypt Coin Cloud Mining

All in all, as of Sept. 29th, 2014, our investment of 0.73070853 BTC has yielded 0.26219607 BTC, which is a TOTAL ROI of 35.88% after 4 months and 8 days.

This was a terrible investment, but looking back, it did teach us to

(1) really focus on price per MH/s (the price we purchased - $180/MH/s was way too expensive, even back in May, 2014)

(2) seriously take into account the rise in difficulty and the decrease in payouts, because as much as we want to see constant payouts, it is not likely to happen over a prolonged period of time

(3) purchase cloud mining contracts in dollars or fiat, since we are long cryptocurrencies and we believe that over time, despite short term fluctuations, the value of cryptocurrencies will be valued by the larger economy (we mistakenly used bitcoins to purchase our initial mining contract with Genesis Mining)

While this initial investment did not go well, fortunately, it was relatively small, and the losses incurred have been compensated for by our 125% (LTC) ROI with Litecoin GEAR (, with which we still have more than 11 months of payouts before contract expiry.

It also led us to correctly value the new pricing structure that Genesis Mining decided to employ in early September 2014, and to make a 2nd investment of $1,499 for 100MH/s (this time only $14.99/MH/s!), which is returning 17.01% after 13 days, and is going well thus far.

Although Account 1 with Genesis Mining remains a small headache, it is behind us now, and while we will continue to update results for Account 1 every now and then, we will focus more on ongoing cloud mining plans which are current and promising!

If you are new to cloud mining, we strongly recommend you test out cloud mining companies SMALL to begin with, and increase your investments over time as you feel more comfortable with the market and the industry.

We're glad we didn't go all in with Genesis Mining when they were charging $180/MH/s, and it really paid off to have waited a while to get to know the market!

Sponsored Link :

-Cloud Mining Earnings
-, , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,