Quote from: alhague on March 28, 2014, 09:05:01 PM

Quote from: tricass on March 20, 2014, 04:10:21 AM

Anyone have experience with scrypt based hosted mining contracts. Looking into this site https://www.minerking.com/ but the prices seem way too good to be true.

Don't forget the fees and mining cost added on top of the shiny advertising figures.

The costs of minerking one time mining:
* you pay 49/59 USD for 10 THash / 100 PHash of LTC/BTC one time mining plan
* a fee is added on top for payment, in case of one plan each this was 7.38 USD

Now for the fulfillment of the mining part. As of today you will get:
* approx 10 GHash/s of BTC mining / 1 MHash/s of LTC mining, i.e. fullfillment will take approx. 10 million seconds (~116d)
* revenue for BTC is split as follows: you mine 0.0000007 BTC/min, deduced is cost of mining 0.000000112 BTC/min and keep 0.000000588 BTC/min
* this will yield 0.098 BTC (advertised are 0.124 BTC)
* revenue for LTC is split as follows: you mine 0.0001291 LTC/min, deduced is cost of mining 0.0001123 LTC/min and keep 0.0000168 LTC/min
* this will yield 2.8 LTC (advertised are 3.33 BTC)
* at current echange rates (500 USD/BTC, 14 USD/LTC) this would pay back 88.2 USD, not counting the difficulty increase.

Conclusion: Figures may change in the future (and difficulty increase lets me expect the change will be for the worse) but as of now an investment in minerking one time mining will not only pay less than advertised but will not ROI. In contast, you will lose approx. 1/4 of what you paid in USD.

Hi,

I don't understand your calculations...I have multiple Minerking contracts, and I earned a decent profit with the packages.