All About BTC, LTC, ETH mining as well as other alternative crypto currencies
Times quickly goes by and we have already used the scryptcc cloud mining service for a few days and can share more about our experience with it. So far we are left with somewhat mixed feelings, on one hand the service itself works find and stable, every 10 minute session you are getting your earnings from the purchased cloud hashrate available in your Balance from the purchased hashrate. On the other hand there are some annoying bugs that are not being fixed and the support knows about them as we’ve reported them a few days ago, as probably other users of the service also did the same. The Break In Time continues to vary quite a lot, changing based on the current profitability of the crypto coins being mined by the service. In general it is normally hovering about 180 days, but we’ve seen going down to 90 days and going up to 230 days at times.
One of the most annoying bugs that the the guys behind the scryptcc service haven’t resolved yet is related to trading when you want to trade all of of the available BTC for KHS, the rounding apparently sometimes gives wrong result and you need to manually edit the value for the trade to be executed. We’ve noticed and reported that issue soon after we started using the service, but it hasn’t yet been resolved. On the trade page the trading chart is also not working properly and the last date on it is 17th January, another bug that the support is aware of and hasn’t been fixed yet. There are other small issues we’ve stumbled with as well that we have reported and that haven’t still be resolved. The excuse we get is that they are still in Beta and will fix it when they can – not very professional response and approach, and though these are no serious issues they can get annoying and can drive you away from the service, especially if another better similar service appears as there is currently no viable alternative available for scrypt could mining.
So far scryptcc has sold about 152000 KHS (152 MHS) worth of Scrypt hashrate to users from their available mining hardware and have available on the market about 48000 KHS (48 MHS) left on the trade market. This is their second batch of 100 MHS hashrate. We are mining hardware getting released for sale by the service providers at a price of 0.00144444 BTC per KHS, and we expect that after the available hashrate gets traded the price may start to get up, unless there is a third batch of 100 MHS. So far the trading is not that active as in order to sell some hashrate you need to set a price lower than 0.00144444 BTC per KHS, but this should change as soon as the big sale order gets completely traded. The idea to buy now and not go for the long expecting ROI, but instead mining some coins then selling at a higher price your KHS after a week or two is also an interesting option to consider.
So far we’ve been reinvesting into KHS all that we have earned from mining and our cloud mining hashrate is currently 237 KHS, up from the 232 KHS that we’ve purchased initially a few days ago. What we don’t like is that so far you can only fund your Balance with BTC and your earnings form the purchased Scrypt mining cloud hashrte are also being payed to you in BTC. It would’ve been nice to have the option to use LTC as well, saving you the trouble to go through an exchange. Another thing that we do not like much for the moment is that there is no statistics or information about the crypto currency that is currently being mined. Some sort of a news and updates section would also be nice, there is a forum, but there is not much activity there yet not only by users, but by the team behind the service as well. There is chat functionality built into the website, but there are not timestamps for the messages, so you have no clear idea how old they may be when you open it up. We know the service is still new and in Beta, but we as users of the service want to see that things are actually happening and improving as we continue using it, and so far we are not seeing that happening yet. Maybe the team is busy with the backend or the hardware, however this does not mean that they should not put effort into improving the frontend of the service and the user experience in general. Still we are positive that things will move in the right direction, even though they appear to be a bit unprofessional at the moment, so we’ll give a bit more time before drawing conclusions.
After day and a half of use of the recently launched scryptcc cloud mining service we can continue sharing our experience from the service. The Income Calculator is showing shorter time for break in now, meaning that the profitability of the coins mined has increased and now we are getting more like 100-120 day than up to 180 days for return of investment (without reinvesting the earned coins) though this value still varies a lot constantly. We’ve started getting 68 KHS at first just to test the deposit of BTC, then have increased the purchased hashrate to 232 KHS and since then we’ve been reinvesting all of the mined coins back into KHS and we are already at 234 KHS, so two more purchased with the mined coins… not bad at all for now. We are reinvesting only the mined coins, because we are still going to be testing the service for a while more before depositing more coins in it to purchase more KHS.
Currently the exchange at scryptcc has little over 73150 KHS (73 MHS) of hashrate for purchase at a price of 0.00144444 BTC per KHS. This is the hashrate being sold by the service from the available mining power (a second batch of 100000 KHS) that is on the market at the standard price. As soon as it gets sold the trades will go between users who have purchased some of this hashrate, so we can expect that there will be an increase in the price per KHS. With that said it is also going to be a good idea to purchase KHS now and then sell them at profit if you are not interested in mining on the long run. And while you wait for the price to get higher, something that can take a few days, you can still make some extra mining profit, so it seems as a win-win situation.
We have also already contacted the scryptcc support with a few minor issues that we’ve had. We’ve already explained that the service is still very new and in Beta and although things are running quite smoothly, there are still some small things to polish left, but again nothing serious. The support is already looking into these and hopefully they will fix them soon, so should you decide to try the service do report some problems you find and send in your suggestions to the Support – this will help everyone else using the service, not only you. We are going to share more of our experience using the service in the following days, but we would recommend you to try it out yourself as well by getting a few KHS as a test if you are interested in it now.
After our initial excitement about the scryptcc cloud mining service where you can purchase scrypt KHS that will immediately start mining for you we can now share some more of our experience with the service. We have been using it already for almost half a day and it seems to be working very well so far, we’ve made a second BTC deposit and as soon as we got the third confirmation the Bitcoins were available for trading and purchasing KHS on the exchange. So we have increased our hashrate to 232 KHS for testing the service. Our initial 68 KHS were purchased with an exchange rate for 1 KHS of 0.00144390 BTC, but at the moment there is a slight decrease and you can purchase 1 KHS scrypt cloud mining hashrate for 0.00144360 BTC.
The income mining calculator over at scryptcc says that the return of investment will be something in between 90 and 180 days, the profitability of the mined altcoins probably changes often and that affects the earnings in each 10 minute session and thus the Break Even time is affected as well. However that will be true if you only purchase hashrate for mining on the long run, if you also start trading the hasrate on the exchange once there are more trades happening there as currently people are mostly buying as the service is new and there is big availability of KHS for sale. The chances are however the exchange rate will start to increase due to increase in the user interest and the price will probably start to grow. This gives you the chance to not only mine for profit, but also trade for some extra profit thus decreasing the ROI time.
So far our profit from mining with the purchased Scrypt cloud mining hashrate is about 0.00072291 BTC for about half a day, though we started with just 68 KHS and then increased our hasrate to 232 KHS at a later time. The mined profit comes in steadily and is available to you every 10 minutes, so you can trade what you have mined for more KHS or withdraw it if you wish, though for now we are reinvesting the mined BTC into more hashrate. We are still very positive about this Scrypt cloud mining service as it really has a lot of potential, so you should give it a try if you are interested. One thing that we are missing at the moment however is the ability to deposit LTC and trade for KHS (as an extra to the available BTC support) with them and also to choose if you want to get your mined earnings in LTC or BTC, after all we are talking about Scrypt mining here, so LTC support is a must have feature and hopefully we are going to see it added soon.