<p>One factor I know you are currently missing is mining difficulty. It will become more and more difficult to mine litecoin. So profits will drop as there will be less litecoin mined for the mh/s you're leasing.</p>

<p>I'd recommend you watch some videos about it on youtube. </p>

<p><a href="https://www.youtube.com/watch?v=0phyRzSisyE" rel="nofollow noreferrer">https://www.youtube.com/watch?v=0phyRzSisyE</a> </p>

CC BY-SA 3.0
2017-06-19T03:49:51.440Z
Thanks for the answer. I watched the video as well and was very informative. He talks about price fluctuations and difficulty as well. Is there any other hidden charges etc that could come into play as well?
Arun Satyarth
CC BY-SA 3.0
2017-06-18T14:38:08.543Z
2017-06-18T14:38:08.543Z
Henry
<p>You're also assuming the price of Litecoin will stay the same over those two years.  Right now it is near an all-time high at around $45.  Over the previous two years its value has usually been more like $4.  If it should go back down to that price, you'll lose money.</p>

CC BY-SA 3.0
2017-06-19T03:50:28.423Z
Thanks for the answer Nate. Is there any other hidden charges etc that could come into play as well?
Arun Satyarth
CC BY-SA 3.0
2017-06-18T15:08:06.060Z
2017-06-18T15:08:06.060Z
Nate Eldredge
<p>The Diamond plan for Litecoin mining promises 200 MH/s for $2400 for 2 years. From the profilatbility calculator, it comes out as $555 per month profit without electricity charges(which wont be there for cloud mining). So it would come out as $13320 for 24 months which is the contract lifetime.
So the profit would be $10920 which seems too good to be true.</p>

<p>I have also heard numerous reports that you dont actually make much profit with Genesis mining. What am I missing here?
I know my calculation is wrong. Can anyone help me understand what else needs to be taken into account here?</p>

<litecoin><mining-profitability><cloud-mining>
Is my profit calculation for Genesis mining correct?
Arun Satyarth
# Is my profit calculation for Genesis mining correct?

(Asked by: username_0 on 2017-06-18)

The Diamond plan for Litecoin mining promises 200 MH/s for $2400 for 2 years. From the profilatbility calculator, it comes out as $555 per month profit without electricity charges(which wont be there for cloud mining). So it would come out as $13320 for 24 months which is the contract lifetime.
So the profit would be $10920 which seems too good to be true.

I have also heard numerous reports that you dont actually make much profit with Genesis mining. What am I missing here?
I know my calculation is wrong. Can anyone help me understand what else needs to be taken into account here?

**Tags:** litecoin, mining-profitability, cloud-mining


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## 2 answers

### Answer by username_1 on 2017-06-18. Score: 3

One factor I know you are currently missing is mining difficulty. It will become more and more difficult to mine litecoin. So profits will drop as there will be less litecoin mined for the mh/s you're leasing.

I'd recommend you watch some videos about it on youtube.

<https://www.youtube.com/watch?v=0phyRzSisyE>

> **Comments:**
> **username_0**: Thanks for the answer. I watched the video as well and was very informative. He talks about price fluctuations and difficulty as well. Is there any other hidden charges etc that could come into play as well?  

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### Answer by username_2 on 2017-06-18. Score: 2

You're also assuming the price of Litecoin will stay the same over those two years. Right now it is near an all-time high at around $45. Over the previous two years its value has usually been more like $4. If it should go back down to that price, you'll lose money.

> **Comments:**
> **username_0**: Thanks for the answer Nate. Is there any other hidden charges etc that could come into play as well?  

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