RE: Genesis Mining: Profitability projection for 30 USD BTC contract

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Genesis Mining: Profitability projection for 30 USD BTC contract

in genesis •  7 years ago  (edited)

UPDATE: The contract is still running: the return is currently about 0.39 LTC or $24 on the $30 dollar investment. The good news is that the return in $ is ahead of the scheduled $15. The bad news is that it would have been better to buy BTC for $30 and hodl.

To keep the price speculation out of it, let's looks at the return in LTC. Four months ago, at the time of purchasing the Genesis contract, LTC was about $40, making the cost of the contract about 0.75 LTC; so, about 52% of the cost of the contract in LTC has so far been recovered. This compares well with the schedule given in the original article.

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