the rate at which bitcoin prices are falling on a daily basis is scary.
if it becomes unprofitable to mine what would happen to our gigahash contracts. would they be temporarily suspended or straightaway cancelled?
They get temporarily suspended for 10 days. After that they get terminated forever. I don't get the right formula to calculate the minimum bitcoin price to keep the contracts alive. Is someone able to do that?I mixed it up with another cloud mining company...
Quote from their FAQ:
As long as the cloud is profitable (i.e. the payout covers the maintenance fee) you will continue to mine and be able to receive payouts. Theoretically, this could be 1-5 years, however practically it will depend on difficulty and market prices for the crypto currencies.
Todays dividend was 375 sastoshi/GHS | 60GHS Payout: 0.00022500
Yesterday it was 400 satoshi/GHS | 60GHS Payout: 0.00024000
Three days from now: 400 satoshi/GHS | 60GHS Payout: 0.00024000
4 days from now: 424 satoshi/GHS | 60GHS Payout: 0.00025440
I hope this information is helpful to someone, who can calculate the minimum bitcoin price to keep the contracts alive!