Bitcoin cloud mining experiment: Will I ever reach ROI with Hashing24 / Miner Gate ? Month 2
Last month I started my Bitcoin cloud mining experiment using the Hashing 24 / Miner Gate service.
Within the first month the daily income (mined amount of Bitcoins) went from 100 % down to 77.1 %.
Read my first result here: https://steemit.com/bitcoin/@doonaberlin/bitcoin-clound-mining-experiment-will-i-ever-reach-roi-with-minergate-aka-hashing24-you-won-t-like-my-outcome
I predicted the following developent:
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
This was a fairly negative prediction. But the truth is worse!
Within the first two months I went from 100 % down to 50,71 %, which I have illustrated below:
After the first month I predicted 5 month until the contract will probably be cancelled. Now I will be happy to reach 4 months!
Do I think I will ever reach "Return on investment" /ROI ?
Using an upscaled 1 TH/s contract worth of 199,50 USD, the actual Bitcoin price of 2781,38 USD with 25 % decrease in income every month I will reach 0,01055288 BTC, which equals 87,39 USD!
If only I had bought Bicoins worth 199,50 USD two month ago!
Below you find the upscaled, calculated data for the contract:
01.07.17 0,000259166 79,68 %
02.07.17 0,000467441 71,85 %
03.07.17 0,000216073 66,43 %
04.07.17 0,000233068 71,65 %
05.07.17 0,000241025 74,10 %
06.07.17 0,000231445 71,15 %
07.07.17 0,000235487 72,40 %
08.07.17 0,000229535 70,57 %
09.07.17 0,000220974 67,94 %
10.07.17 0,000217982 67,02 %
11.07.17 0,000208498 64,10 %
12.07.17 0,000210248 64,64 %
13.07.17 0,000216104 66,44 %
14.07.17 0,000215341 66,20 %
15.07.17 0,000189688 58,32 %
16.07.17 0,000188224 57,87 %
17.07.17 0,000142743 43,88 %
18.07.17 0,000169096 51,99 %
19.07.17 0,000174061 53,51 %
20.07.17 0,000172120 52,92 %
21.07.17 0,000172120 52,92 %
22.07.17 0,000172120 52,92 %
23.07.17 0,000172120 52,92 %
24.07.17 0,000763304 58,67 %
25.07.17 0,000184628 56,76 %
26.07.17 0,000181572 55,82 %
27.07.17 0,000179854 55,29 %
28.07.17 0,000173616 53,38 %
29.07.17 0,000173393 53,31 %
30.07.17 0,000165118 50,76 %
31.07.17 0,000164959 50,71 %
I starting to see that light too a smaller scale experiment. It's better to buy the coin outright and capitalize on any immediate gains instead of waiting for the mined results.
I think that good timed (as far as possible) direct buyings will lead to a better outcome than Bitcoin cloud mining... it all stands or fails with rising mining difficulty, the daily fees and the bitcoin price