Attempt to calculate Genesis Mining ROI (Lifetime Altcoin contract)

[lcrig]

I've started with Genesis Mining by buying 1 MH/s lifetime Altcoin contract for 0.0471 BTC (17.99 USD) on 22 October 2014.

After mining for a week and seeing 0.41% daily ROI (149.06% annual return) I decided to buy additional 10 MH/s lifetime Altcoin contract for 0.5261 BTC (179.90 USD).

Now after 24 days of mining and seeing 0.31% daily ROI (112.32% annual return) based on the average ROI of the last 7 days of mining, I am thinking whether I should buy 100 MH/s for 3.9574 BTC (1499 USD) or just buy BTC and keep them.

ROI calculation is based on BTC only, not taking into account BTC/USD rate.

https://i.imgur.com/ScspMeg.png?1

Link to the actual spreadsheet in iCloud, regularly updated: Genesis Mining.numbers

Explanations of the fields:

Date	Date and time when BTC were spent (sent) or received from mining
Type	Sent: miner purchased, Received: BTC received from mining
Amount	BTC amount spent on miner purchase or received from mining
Total	Total amount of BTC received from mining
Duration	Time lapsed in days, hours, and minutes from the previous BTC reception from mining
Ratio to 1d	Ratio of duration to 1 day (=1 if Duration is equal to 24h, >1 if Duration is > 24h, <1 if Duration is <24h
24h Norm	BTC amount received from minining normalised to 24h period
7 Day Av. Norm	Average daily BTC amount received from mining for the previous 7 days
Daily ROI	Average daily return of investment on BTC amount spent for purchasing the miners (in %)
Annual ROI	Annual return of investment on BTC amount spent for purchasing the miners (in %)
Total ROI	Return of investment so far vs. amount spent for purchasing the miners (in %)
Days to ROI	Days left to reach 100% ROI based on BTC amount returned so far and previous 7 days of mining
ROI Date	Date when 100% ROI is going to be reached based on BTC amount returned so far and previous 7 days of mining

So far I received 5.59% of BTC invested.

100% ROI Date is being pushed into future, and I have a concern it will be pushed indefinitely with Altcoin difficulty increase.

What would you do in my shoes: buy more mining power or just buy and keep BTC?

(let's try to leave any irrelevant discussions, such as whether Genesis Mining can disappear or what happens with BTC/USD rate, outside of this topic)

[wakhidNkcom]

hello i have try that site too
just for make sure hehe..
i just purchase 2MH(not much)+0.28 MH(it's from refferal discount earning)
and based on what i get.. every day per MH they pay me based on dollar.. i see on my wallet they pay me 0.11$ for 2.28MH..

[FundsMoney]

I'm not a mathematical expert, nor an investor expert.
However, there's one thing I've learned the hard way: Never. Invest. In. Cloud.Mining

I've got burnt really hard a few months ago with "PETA", a havelock mining IPO (if I'm not mistaken). I've lost about 40% of my investment.

I don't want to generalize or to bash genesis-mining. This is just my personal experience.

For me, a good investment (or 'not so risky investment') is buying btc and 'hodling'.

p.s: i do have a 0.20 btc investment in genesis-mining. This is an amount I can afford to 'lose', just for testing. I will never again invest more than I can afford to lose.
So far, I have 'mined' ~0.07 btc, using 5 mh/s altcoin mining.

So far it seems profitable in the long-term.

Be safe!

[wakhidNkcom]

I'm not a mathematical expert, nor an investor expert.
However, there's one thing I've learned the hard way: Never. Invest. In. Cloud.Mining

I've got burnt really hard a few months ago with "PETA", a havelock mining IPO (if I'm not mistaken). I've lost about 40% of my investment.

I don't want to generalize or to bash genesis-mining. This is just my personal experience.

For me, a good investment (or 'not so risky investment') is buying btc and 'hodling'.

p.s: i do have a 0.20 btc investment in genesis-mining. This is an amount I can afford to 'lose', just for testing. I will never again invest more than I can afford to lose.
So far, I have 'mined' ~0.07 btc, using 5 mh/s altcoin mining.

So far it seems profitable in the long-term.

Be safe!

agree with you.. never invest more than you can afford to lose..
thanks for sharing your experience

[sanos51ck]

I'm not a mathematical expert, nor an investor expert.
However, there's one thing I've learned the hard way: Never. Invest. In. Cloud.Mining

If you know what you're doing there's no problem with cloud mining.

[KC6TTR]

I've started with Genesis Mining by buying 1 MH/s lifetime Altcoin contract for 0.0471 BTC (17.99 USD) on 22 October 2014.

After mining for a week and seeing 0.41% daily ROI (149.06% annual return) I decided to buy additional 10 MH/s lifetime Altcoin contract for 0.5261 BTC (179.90 USD).

Now after 24 days of mining and seeing 0.31% daily ROI (112.32% annual return) based on the average ROI of the last 7 days of mining, I am thinking whether I should buy 100 MH/s for 3.9574 BTC (1499 USD) or just buy BTC and keep them.
..........................

So far I received 5.59% of BTC invested.

100% ROI Date is being pushed into future, and I have a concern it will be pushed indefinitely with Altcoin difficulty increase.

What would you do in my shoes: buy more mining power or just buy and keep BTC?

(let's try to leave any irrelevant discussions, such as whether Genesis Mining can disappear or what happens with BTC/USD rate, outside of this topic)

I have 100MH/s there and even with their fee reduction a few weeks ago, the payouts have been decreasing more than expected. Specifically, every 24-48 hours, the payouts are now going down approx. 0.001.


0.01320832 BTC Yesterday 11-15-2014
0.01485183 BTC 11-14-2014
0.01449059 BTC 11-13-2014
0.01564098 BTC 11-12-2014
0.01543919 BTC 11-11-2014
0.01825072 BTC 11-10-2014

etc etc etc

If you have the capital, I would hold it for the time being. BTC is likely to go back up another 25% in the coming weeks and that return is better than mining via the cloud right now.

Also, it should be noted it is VERY hard to exit these cloud mining services unless you sell the entire account w/ password to someone at a likely loss.

LTCGear has been good and you can buy/sell/trade those shares, but I have also seen their payout go down this past week even though I invested more just 1.5 weeks ago.

Overall, a very odd time right now.

Scott-