Part 2 of my Bitcoin cloud mining experiment: Will I ever reach "Return of Investment" /ROI or more?
The graph below illustrates the change in daily mined Bitcoins upscaled to a 1 TH/s mining contract of MinerGate/Hashing 24.
Within one month of mining, the amount of mined Bitcoins was reduced by 22,9 %.
Calculating this let my jaw drop!
What does this mean for my contract ?
Within the next 5 month I will have no returns and/or the daily maintenance fee will exceed the mining outcome - leading to a cancelled "lifetime" contract....
As for the numbers: Assuming that the 22,9% (0,0019486083 BTC) reduction stays constant, I will mine:
Month 1: 0,0085091980 BTC
Month 2: 0,0065605917 BTC
Month 3: 0,0046119800 BTC
Month 4: 0,0026633700 BTC
Month 5: 0,0007147600 BTC
Hence: 0,0230599 BTC will be mined at current price of 2525 USD which equals 58,23 USD but I will have paid 199,50 USD!
Ok, this is influenced by the price of Bitcoin and the mining difficulty, but it is unlikely that the Bitcoin price will rise that much to compensate the 22,9% reduction. Please read Part 1 explaining why the amount of mined Bitcoins will decrease over time and the checked contracts of the different companies.
I don't think that I will ever reach ROI with a MinerGate aka Hashing24 contract.
For legally reasons, I will not tell you to avoid such a contract - please come to your own conclusion!
In part 3 I check out the Hashflare contract and of course I keep you up to date about the future payout developments.
Table of daily mining changes:
31.05.17 0,0003252705 100,0 %
01.06.17 0,0003380331 103,9 %
02.06.17 0,0003402610 104,6 %
03.06.17 0,0003395926 104,4 %
04.06.17 0,0003303947 101,6 %
05.06.17 0,0003044558 93,6 %
05.06.17 0,0002853596 87,7 %
07.06.17 0,0003038829 93,4 %
08.06.17 0,0003127307 96,1 %
09.06.17 0,0002905156 89,3 %
10.06.17 0,0002915977 89,6 %
11.06.17 0,0002893380 89,0 %
12.06.17 0,0002833546 87,1 %
13.06.17 0,0002805220 86,2 %
14.06.17 0,0002980904 91,6 %
15.06.17 0,0002842139 87,4 %
16.06.17 0,0002737747 84,2 %
17.06.17 0,0002663908 81,9 %
18.06.17 0,0002631445 80,9 %
19.06.17 0,0002374602 73,0 %
20.06.17 0,0002556970 78,6 %
21.06.17 0,0002669001 82,1 %
22.06.17 0,0002762572 84,9 %
23.06.17 0,0002752069 84,6 %
24.06.17 0,0002487269 76,5 %
25.06.17 0,0002436665 74,9 %
26.06.17 0,0002430936 74,7 %
27.06.17 0,0002508912 77,1 %
28.06.17 0,0002595799 79,8 %
29.06.17 0,0002507957 77,1 %
Any donations supporting my work are welcome :-)
BTC 152X3dFcuxRSpZviENsAy7fGLH35du1QtP
ETH 0xea17bb4a1a9392b31a03921e4a289e3c94557a9e
XMR 45irmDe1qm4MkzHteRVPg3EMZ6zrsbvJSjLEuhR9ui5ZThmkUrG1dS4WyjXwiVMVBLNMYznkHNbo1JVwtRiia5z7DB1hRNu
Dash Xf3kfEqZJRqG1uo7AbXsTrq2GEGuSdN5X1
XRP rnhweMYTBca255moiZxmHgN4U4XDizeM7W