I bought 10 VIP mining shares 3 days back. So far it looks like a decent investment and a very transparent operation.
Considering that this is this is my first venture in bitcoin mining I'm treating it more of as a learning experience rather than an overnight money-spinning venture.
I posted a ticket but got no replies. I think it's better if I post it here:
RMCS10 grants me 10 VIP shares of 10GH for 12 months each totalling 100GH in all at a cost of $110.16 after coupon discount.
As stated on the payout screen- "Current BTC value from 2015-06-25 0.00001020 BTC per share, per day and GH"
Hence my earnings come to- 0.00001020BTC X 10 VIP shares X 365 days X 10GH = 0.3723 BTC/annum X $267.41 (as on 15-08-2015) = $99.5 (approx)
As on date I stand to make a net loss of $10.66.
I had paid in INR through PayPal and hence the USD is a bit expensive for me.
However I understand that if USD/INR rates and BTC/USD appreciate in the future then I stand to gain.
My queries are-
1) If I do earn a share of the profits and it's added to my payout would it be sufficient to cover my loss of $10.66?
2) On expiry of my VIP contract after 12 months do I get any preferential treatment/ discounts for renewing my contract?
3) Are longer term (>12 months) contracts possible at the moment or is it possible to become a permanent member at all?
Had the existing contract been for 24 months or more my figures would have been rosier.