Doubled Rewards for Litecoin Mining, LTC Cloud Mining Coming Soon, Bitcoin Cloud Mining Preorders as new Features on CEX

14 Mar
2014

litecoin-double-cex

It seems to be official now after digging a bit around the CexIO website we found some information that “LTC Cloud mining is coming soon” and adding the Litecoin mining pool at Ghash.io is apparently only the first step. The currently running promotion for doubled rewards for Litecoin mining for a week in the new LTC pool is apparently a good trick to attract a lot of user attention and after this week ends the service will most likely start offering LTC cloud mining and trading to go along with the already available BTC cloud mining and trading functionality. And apparently things are already working pretty well with the current pool speed of the Litecoin mining pool at 5.76 GHS and growing as more and more people are joining in. The 100% extra profitability promised over the standard LTC mined is an offer that is not easy to pass at the moment with the not so high profitability of other alternative cryptos, so the news is spreading pretty fast.

The CexIO account Balance page already shows some new things such as the FHM and FHA balance that apparently stands for future mining contracts. 1 FHA and 1 FHM stands for futures contract for 1 GHS that will start mining for you on 26th of April and May respectively with both already traded on the website’s exchange. The purchase of future hashrate at a much lower price of 0.00399999 BTC per FHA or 0.00399999 BTC per FHM. The total FHA (April) is 1000000 GHS (1000 THS) and the total FHM (May) on the exchange is 900000 meaning that apparently there are 900000 GHS (900 THS) more that will be added at CexIO and you can pre-order now. It is very much like pre-ordering a BTC ASIC, but with an exact date for delivery and easier to calculate the break even in time. This however does not mean that these future cloud mining hashrate contracts will be profitable as there are many variables to take into account as well as with pre-orders for ASIC hardware.



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1 Response to Doubled Rewards for Litecoin Mining, LTC Cloud Mining Coming Soon, Bitcoin Cloud Mining Preorders as new Features on CEX

RavenX

March 14th, 2014 at 15:01

New info:
“To prevent getting 51% of the Litecoin network, the reward multiplier will be adjusted according to the pool speed.”

Pool Speed vs Reward Multiplier:
0 – 40 GH/s: x2
40 – 60 GH/s: x1.25
60+ GH/s: x1

Current pool speed: 38.88 GH/s

So the “double XP” will not last more than one day… =/

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