Cloud mining profit

[Medow]

Hello:

First of all. i would like to ask how it is possible that LTCgear is providing that cheap hash power with almost 5 USD for 1 Mh?
What kind of asic equipments do you think they are used?
I think by providing 5 USD/Mh which including power, cooling, internet, mentinance ... etc. This make me think they have asic equipments with less than 3 USD per Mh in total.

Second, i live in a country where electricity price is cost 2.5 cent per kw in resident area and 3.5 cent per kw in industrial area, there for i am asking the above question to determine  if it is profitable to make a cloud mining service or not.

I am open mind for suggestion.

[1713942701]

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[1713942701]

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[1713942701]

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[AizenSou]

Hello:

First of all. i would like to ask how it is possible that LTCgear is providing that cheap hash power with almost 5 USD for 1 Mh?
What kind of asic equipments do you think they are used?
I think by providing 5 USD/Mh which including power, cooling, internet, mentinance ... etc. This make me think they have asic equipments with less than 3 USD per Mh in total.

Second, i live in a country where electricity price is cost 2.5 cent per kw in resident area and 3.5 cent per kw in industrial area, there for i am asking the above question to determine  if it is profitable to make a cloud mining service or not.

I am open mind for suggestion.

We already have some nice discussions about all possibility over here.
https://litecointalk.org/index.php?topic=22433.120

Would be redundant to repost the analysis here. Try to grab the info there.

Regards,

[Medow]

Thank you AizenSou , there a very good info there.

[maku]

Looks to me like their payouts are being pumped up to gather more greedy investors and bail.
They could still sell their shares if thir payouts were lower, but the higher they are the more people will be willing to pay.
As the old saying goes if something looks too good to be true it probably is

You could not say that better. I get the impression that this LTC cloud mining is initial attack aimed at greedy investors who are willing to bet on it. After great beginning and good starting payouts it is going to collapse like a house of cards. I am a bit wary of trusting LTC. As you say - too good to be true.

[AizenSou]

Looks to me like their payouts are being pumped up to gather more greedy investors and bail.
They could still sell their shares if thir payouts were lower, but the higher they are the more people will be willing to pay.
As the old saying goes if something looks too good to be true it probably is

You could not say that better. I get the impression that this LTC cloud mining is initial attack aimed at greedy investors who are willing to bet on it. After great beginning and good starting payouts it is going to collapse like a house of cards. I am a bit wary of trusting LTC. As you say - too good to be true.

I'm aware of your concerns but you can't deny the fact that his service's running flawlessly over one year, much longer than others well-known competitors. Not to mention that a lot of his customers  were getting ROI already.
Yes high risk and huge return investment indeed. Don't invest the money you can't afford to lose there.
Anyway it's still better than invest in many altcoins right now.

[AirFlame]

Mt.Gox was also running for over a year until it blew in our faces.

[AizenSou]

Mt.Gox was also running for over a year until it blew in our faces.

Did you read my statement above?

Yes high risk and huge return investment indeed. Don't invest the money you can't afford to lose there.

If we're sure 100% about things like that, I would loan a shitload of money to invest in this. No one forces you to invest in it.

[Zeta0S]

I'm aware of your concerns but you can't deny the fact that his service's running flawlessly over one year, much longer than others well-known competitors. Not to mention that a lot of his customers  were getting ROI already.
Yes high risk and huge return investment indeed. Don't invest the money you can't afford to lose there.
Anyway it's still better than invest in many altcoins right now.

That's not an incredible achievement if they were around for over a year. I've seen people claim to have reached ROI with different providers in less than 4 months.

Yes, Genesis Mining already roi. Got a Vochercode (MOON) so i had 5% discount.
And whit Hashlets Roi in 14 days, after i sold my Prime Hashlets for 50 bucks! (got them for 16 bucks)
I got hashlets for free to becorse i was a rearly buyer, sold them, even more profit!
Made a payout and sold my bitcoisn on koop-bitcoin.nl
Hashlets made me a lot of €€

[AizenSou]

I'm aware of your concerns but you can't deny the fact that his service's running flawlessly over one year, much longer than others well-known competitors. Not to mention that a lot of his customers  were getting ROI already.
Yes high risk and huge return investment indeed. Don't invest the money you can't afford to lose there.
Anyway it's still better than invest in many altcoins right now.

That's not an incredible achievement if they were around for over a year. I've seen people claim to have reached ROI with different providers in less than 4 months.

You sure don't do the math. ROI with ltcgear less than 2 months.

[maku]

I will just wait and see. For now I am a bit reluctant to purchase anything from LTC. When they will be still here in the next year, maybe. For now they are more secure options as far as cloud mining goes.

[Snorek]

I think that GAW might still be more secure bet at this point. Just saying.

[Zeta0S]

I think that GAW might still be more secure bet at this point. Just saying.

You mean this hashlet service?
http://badasscontent.com/Hashlets

[Sophie.Greek]

which cloud mining would you choose?

[Zeta0S]

which cloud mining would you choose?

For now, Genesis Mining, and GAW Hashlets.
Love them both.

Ow do not forget Genesis Is gonna launch Project X, you will make all kinds of gains!
Read more about project X here: http://www.bitcoinupdate.nl/home/het-genesis-mining-datacenter


Cool Genesis Video:
https://www.youtube.com/watch?v=VsWOKaXDo3Q

Dashboard Genesis Mining
https://www.youtube.com/watch?v=7NNyx3GMBnc

[hashie]

which cloud mining would you choose?

Shameless plug for Hashie.co

We've just implemented auto-rebuy, where you can allocate a percentage (any amount from 0% to 100%) to reinvest into additional hashpower for your miner.

-Sahra

[Medow]

the problem that make all this hard to believe is the MH price, we will not find an asic with the price of 5 Mh is the market (We are not counting power and other expenses). Unless they have a secret asic power which they are keep secret to use on their farm.

[ErikvanBreen]

the problem that make all this hard to believe is the MH price, we will not find an asic with the price of 5 Mh is the market (We are not counting power and other expenses). Unless they have a secret asic power which they are keep secret to use on their farm.

If the Zeus volcano does get released in December you have your $5/Mhash hardware right there which is the sales price and not the price to manufacture one.
If Zeus or anyone else already has their hands on these chips or similiar ones then it would definetly be possible 

LTCgear or any other site could be mining on multipools or other coins which are more profitable then LTC to gain a share of the income, this could make the shares sustainable.
These are all assumptions of course, only time will tell 

[AizenSou]

I'm aware of your concerns but you can't deny the fact that his service's running flawlessly over one year, much longer than others well-known competitors. Not to mention that a lot of his customers  were getting ROI already.
Yes high risk and huge return investment indeed. Don't invest the money you can't afford to lose there.
Anyway it's still better than invest in many altcoins right now.

That's not an incredible achievement if they were around for over a year. I've seen people claim to have reached ROI with different providers in less than 4 months.

You sure don't do the math. ROI with ltcgear less than 2 months.

If they are on the market for a year, there should be people who quadrupled their LTCG investment by now.
When someone tells you "give me the money and I will double your investment in less than 2 months" he most likely wants to scam you

ltcgear price is not cheap before. They just recently reduce the price to < 6$ / 1mhs with the new generation of chip. Yes I don't know whether someone who quadrupled their investment, but people who doubled their investment are a lot.
I rather do not give my money to a company who spent a lot for PR stuffs. Who paid 1m$ for btc.com actually ? Be my guest

[AizenSou]

the problem that make all this hard to believe is the MH price, we will not find an asic with the price of 5 Mh is the market (We are not counting power and other expenses). Unless they have a secret asic power which they are keep secret to use on their farm.

If the Zeus volcano does get released in December you have your $5/Mhash hardware right there which is the sales price and not the price to manufacture one.
If Zeus or anyone else already has their hands on these chips or similiar ones then it would definetly be possible 

LTCgear or any other site could be mining on multipools or other coins which are more profitable then LTC to gain a share of the income, this could make the shares sustainable.
These are all assumptions of course, only time will tell 

?? You heard about bitmaintech ?
https://bitmaintech.com/productDetail.htm?pid=00020140830074550960Um75pnzg06E3

Deliver in Dec with 5$/1mhs. And they are legit company.

ltcgear just happens to have more superior tech than any asics company now.

[Medow]

ltcgear just happens to have more superior tech than any asics company now.

I believe that is correct.

I hope some one from LTCgear cut the shit shat and provide us withe some real tech info about their farm. At least transparency make more sales.