Quote from: Calidude on September 22, 2018, 05:20:46 AM

Quote from: FutureTeslaOwner on September 21, 2018, 09:29:23 AM

Calidude, your maths is a bit wrong. You said it costs $1200 for 1000 rock2. It only costs $325.

Okay my bad.

Quote from: fishdogduck on September 21, 2018, 11:32:16 AM

If anyone is interested here is my Rock2 profit calculator that I made. https://docs.google.com/spreadsheets/d/1sK-JYICeL34HnVKGDic1l6Meeu3ombLwRrh-ro3l038/edit?usp=sharing (create a copy to edit it)

For the first payment of miners running for 22 days it should be around $0.00116 per token or $1.16 per 1000 tokens (hopefully it's not more than this or it means they are dipping into the ICO fund Tongue

)

So if that is based on 500 ASICS running that means if someone invested, to make it a round figure $10,000.00 right now it they would get 31,250 ROCK2 which would see them receive a payment of roughly $31.25 each month this next couple of months.

Then assuming they put the other (when they actually order them) 1500 ASICS online that return will increase 3x so they would receive at a maximum $93.75 per month.

That is a total of 2000 ASICS right. So times that by 5 to bring it up to 10 thousand ASICS assuming they can actually get that many purchased delivered and set up in the next 6 months that still gives you a return of $468.75 per month.

So at that rate, not taking into account difficulty adjustments or BTC price increases/decreases in 4 to 6 months you MIGHT receive Just under $500 per month. So minimum of 2 years to break even if at all and even then that does not take into account the difficulty and the halving in May 2020.

That is why I sold all of mine the chances of breaking even at all are next to zero. You will not get rich because the difficulty as we get closer to halving is just going to explode, and yes that will increase the price of BTC, but even if it does 3 fold from where it is today, why risk maybe seeing some return on your investment when with that same 10K you could buy just under 1.5 Bitcoins now?

Anyone who thinks they are going to "Moon" or get rich with IRM or ANY cloud mining service is kidding themselves. I was kidding myself for a while but woke up and sold up and now have an extra BTC in my stockpile and about 20 ETH left over, feels good knowing I got out before being duped, although I was for a while luckly I purchased some more ROCK then dumped it again when the price rose.

I believe they are using ICO money to inflate the price as no one would logically pay that price now as an investment it just does not make financial sense. Also you going to be paid in ETH so all of the mined BTC is going straight to them, they will be using ETH from ICO to pay investors no way would they be stupid enough to exchange the BTC they mine as they like all of us know by the time the halving is here it will be worth a fortune.

All this ICO has done is ensure that the creators become very rich and the investors will be left holding small bags of ETH.

You cannot trust Russians/Kazaks with cloud mining services because eventually they all say.......fuck you to the investors and that is what is going to happen here .

Sell up now while the price is higher and buy some BTC with it rather than risk it with these deceitful people.

You really need some longer term thinking and perspective here. IRM is essentially paying a dividend through mining if you hold their tokens. In the stock market a 4-5% dividend paid monthly is considered **very good**.

By your calculations initially each token will give 1.16 cents and it will increase when more ASIC miners are added, to 4-5 cents per token. EVERY MONTH. This is very solid and on par with good stocks that pay dividends.

There is the added bonus of being paid in Cryptos (ETH) too which are depressed right now (BTC is down 80% of its value since Jan 2018) but if the overall market caps increase so will the overall mining dividends you hold paid in ETH.

If your goal was to see a complete return on your investment in a short time then you are dreaming and will be disappointed with all crypto mining companies (none can or have ever guaranteed this!). I did not see it mentioned anywhere by IRM or in their white paper that this was ever a stated goal to return huge payouts from the first months of operation.

It would be good for everyone to re-adjust their thinking and to be more realistic! IRM is a long term crypto hold.