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RE: Thinking about purchasing a cloud mining contract? You'll change your mind after reading this.

in #bitcoin7 years ago

24 / 4 = 6
6 * 3.69 LTC = 22.14 LTC

That's how much you would make over 2 years if you got 3.69 LTC every 4 months.

You can see from this site that on 2017/04/01 the difficulty was 87,421 and on 2017/07/31 the difficulty was 437,853. That a 400% increase in difficulty over those 4 months or an increase of 87,608 per month. If you had 20 Mh/s and if the difficulty increased by a mere 10k per month for the next 18 months, you'd make 10.22 LTC according to this calculator. So, with the 3.69 you've already mined, that would give you a total of 13.91 LTC. If the difficulty increased by 87.6k per month for the next 18 months you would make 5.41 LTC in that time giving you a total of 9.1 LTC over the 2 years.

As you can see, that's significantly less than what you would have if you just bought LTC.

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Oops, got a little silly with my math there. I will see if I can edit that post, just goes to show it is easy to make mistakes. Thank you so much for your correction and all that info. Darn math.

#payitforward

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