Topic: Review/Journal/ROI Calc of Litecoin GEAR (LTCGear) | LTC/DRK/VTC mining farm - page 43. (Read 71004 times)

Thanks for the update!
i'm currently at about 25% VTC via Dual MODs..are you getting payed out in vert or opting for the BTC payout?
i've been getting payed in BTC but vert devs are planning for algo change in the next few months so the price might get interesting

You're sure soon Erik
Thanks organizer for the ROI report .
Sounds like a good plan.

May I ask, how many shares do you currently own ( asic shares)?

Thank you for the ROI update man  Hopefully I will be in the same position as you in a few weeks!

The Road to ROI #2
So after this past payment, i'm happy to say that i've at least recouped my initial investment after just about 2 months total! With the exception of 1 week of affiliate payments converted to shares, it was all based on my first 2 months of investments (initial + reinvestment).

Just to briefly summarize, I started primarily with DualMODs in August, reinvested for about a month and have almost stopped purchases (I won't like, I picked up some more DualMODs but have -mostly- kept to my plan to hold off on major reinvestments until about Dec.

Right now my breakdown is:
~ 75% LTC Mining
~ 25% VTC/DRK Mining

Moving forward, I plan on tweaking my plan to be:
75% savings
25% reinvestment

And any affiliate payments I get will likely be added to the reinvestment portion. I am not planning on using the automatic share conversion option as i'd personally rather save up a lump sum for the next generation thing (i'm guessing we'll see new offerings from everyone Dec/Jan). The only purchases I might make will be DualMODs to keep my % breakdown to be about the same after the next multiplication.

Next Goal
The obvious next milestone will be when I get back the amount I put to reinvestment from my initial investment. This will be a little more loosely tracked, as i'm occassionally not converting to BTC and just stockpiling some coins...

So far I think i've been through 8 payments and aside from the random delay/date change, so things still looking good (knock on wood).

Well, that sucks... it's a bit weird that you didn't get a receipt once you submitted the order... now i've not used anything but the BTC payment option, but as soon as i complete the order (and it takes you to the payment/receipt screen) I always get an email receipt at that point and the order shows up in my history... does the same thing not happen with Coinpayments?

Really sounds like there was some communication issue between the LTCGear site & Coinpayments... seems like the LTCGear site never received whatever communication from CP that a transaction was initiated/completed...

You also might want to post over at the litecoin talk thread:

https://litecointalk.org/index.php?topic=6401.0

Maybe some of the old-timers might have had similar issues...

I did for the LTC ASIC shares I purchased with BTC directly from the site, for the Tricoin M10 pack I elected to pay with CoinPayments and I got the following:

Hello,

Thank you for using CoinPayments.net! To complete your checkout, send 600.47300500 DRK to XpmhdLPT124JaLMMk1bsmnCoe2C9qtPqKm within 2 hours (make sure you leave enough time to get 5 confirms before the time limit!).

Note: Some of the Qt-based wallets only let you enter 6 digits past the decimal point; if the last 2 digits of your total aren't 00 you will need to round up to the 6th decimal place.

You can view the status of this payment or leave feedback for the seller for the next 30 days at https://gocps.net/14yfeqqrcqyl03p2ru7x35aw4c/
If you were logged in to your account, you will also be able to view the status at https://gocps.net/2tszannv22ckc19bri6e2zwzuj/

For your reference your transaction ID is 942366396aa4b4324c1657e92fac4ebfe0c1676aca61837026050e6b0fb7fd07.

Thank you,
CoinPayments.net
Support is available at: https://coinpay.freshdesk.com



No order confirmation from LTCGear however.

I asked CoinPayments for the LTCGear order number, however they said the following:

Hi,

We do not collect that data, only our transactions using the coins. That info is all you should need to prove your order, or at least proof of payment. Don't see why they can't just give you a refund if you have all the info needed?

Ticket: https://coinpay.freshdesk.com/helpdesk/tickets/709

- Thomas A. Anderson
- CoinPayments Support Team


I've sent all this info to Chris @ LTCGear, he should have control of the DRK address I used so if I've missed out on the TriCoin M10 pack because of some disconnect during the checkout process, then at least he could honour that order or provide me a refund.

I'll keep you guys fully posted.

Keep us posted. did you get a comfirmation email from ltcgear when you placed the order?

I would like to send a word of warning to people, last night I purchased a Tricoin M10 pack, I opted to pay with Darkcoin, with CoinPayments.

After the transaction confirmed "942366396aa4b4324c1657e92fac4ebfe0c1676aca61837026050e6b0fb7fd07" the order wouldn't leave my cart at LTC Gear, it just stayed there.

I also had other things to purchase, this time with Bitcoin, so I removed the Tricoin M10 pack from my cart and carried on purchasing some LTC Asics with BTC.

Those transactions went through fine.

After everything had confirmed, I noticed my original Tricoin M10 pack wasn't on my account, even though I had paid for it with CoinPayments.

I emailed LTC Gear with the CoinPayments payment ID, asking where my order had gone, this was the response I got:

Hi,

Excuse me, but it did not seem that you bought any. Your both orders were placed on shares.

Best Regards,
Chris

So right now, I'm in Limbo.  I have paid for a Tricoin M10 pack however there is no acknowledgement from LTC Gear that the order took place.

I asked CoinPayments for the details and I got this as follows:

Transaction ID:    942366396aa4b4324c1657e92fac4ebfe0c1676aca61837026050e6b0fb7fd07
Payment Address:    XpmhdLPT124JaLMMk1bsmnCoe2C9qtPqKm (addr_4104)
Transaction Status:    Complete
Amount Expected:    600.47300500 DRK
Amount Received:    600.47300500 DRK with 5 confirms
Time Created:    October 13, 2014 10:29:06am
Time Expires:    October 13, 2014 12:29:06pm
Time Completed:    October 13, 2014 11:16:19am


I also asked CoinPayments for the actual LTCGear order number, because right now LTCGear have no record of this order.

I'm a little worried to be honest, I'll keep you informed.

You should be fine with having just Scrypt(LTC) & SHA256(BTC) addresses filled 

I don't have a VTC wallet. I do not own any duel mods, does it matter if I dont have this wallet address filled out?

UPDATE regarding Coin Choice on the main page:

Hi,

An explanation about “Coin Choice” payment option on account page. All four addresses (Scrypt/LTC, SHA256/BTC, X11/DRK and Scrypt-N/VTC) are expected to be filled.

Kind Regards,
Chris

I don't think it's cloud in the same sense as other people are calling their services "the cloud"... you're really buying shares of a mining farm...

It might have been as early as Feb/March as he was selling shares of the FPGA farm... then (again if i remember right) his first batch of chips came in around April... I think he has been offering shares since around that timeframe... Farmshares (F$) I think... there were also Hardware Shares... which again, I think, was a deal for people who bought his original product...

I started following it more closely in May/June and was talking to people off and on especially when he started delivering Scrypt-N / X11 based products...

How long has LTC Gear offered cloud mining? I know they have been around about a year, but when did they enter the cloud industry?

For fun:

https://ltcgearcalc.com/hashlets-vs-ltcgear.php

See how far a dollar goes...   

You'll probably get the referral in the next payout.. (presumably next Sunday)... they are on a slightly different timeframe than the mining week.. but we're up to either 3 or 4 affiliate payments, so i wouldn't sweat it, you'll get paid.

It depends on when Chris does the snapshot. In my case there was once that I received payment for the full week, but another one only for 2 days.


1. Referral was paid on Sunday night.
2. Tricoin mod is simply qASICs share (only 63mhs) + dualMOD. So you could mine DRK/VTC directly without any others qASICs shares like in case of DualMOD alone.

2 questions:
Firstly, how long does it take to receive shares from a referral? I signed up my friend yesterday for a 1600pack. It shows a pending referral payment but how long does that take to come?

Second question, is there any benefit to purchase a tricoin mod or something like that. It says you get an additional 630 shares and I understand i have the ability to mine another coin but is that more profitable than purchasing a 1600 pack of shares? So for example if I can buy a tricoin mod or a 1600 shares which should I buy in terms of profitability?

Any insight much appreciated! 

  you can check out at KNC forum also on home of KNC remove scrypt-N.

Anyone done any rough calculations on ROI for a brand new 1600 qASIC (with the coupon & 8% discount) & then choosing the Convert to Shares payment option?  Should bring it down a good few weeks I imagine?