Argo packages10 Oct 2018 15:27
Taken from Lazygun on the VELA board:
So, I’ve constructed a spreadsheet to keep a track of mining transactions, so I can forecast how much I can expect to mine by the end of the month.
I had a small issue as I subscribed to several packages on a pre-order basis, and they mistakenly set them all going at the start of October.
I contact3d support to indicate I was pretty miffed at this, and they eventually were able to reset the addnl packages to a pre-order basis, and were also able to refund the amounts for the ovember packages back into my bank account, and I’ve now seen the refunds appear in my account.
The mistake shouldn’t have happened in the first place, but I take it as quite a good sign that they have refunded these amounts. To be clear, they will charge for them again on October 27th, ready to start mining in November, which is what I wanted, and was the basis for which I signed up for.
A young fast growing company like argo I would expect to have some teething issues with their processes, but it is far more important that they demonstrate an ability to fix them promptly, which they have. A great sign, considering they are now a publicly traded company in the headlights of greater public and fiscal scrutiny from the stock exchange.
I’m also reasonably impressed with their support team. I actually had a long phone call from one of their support heads in relation to these issues, so they clearly take this sort of stuff seriously.
Anyways, enough digression. Based on my forecasts for the one $50 package I’ve experimented with, by 31st October, I should have around 0.63 zcash coins. Based on the current zcash/usd exchange rate, that works out at about nearly $80 (using $126 usd to zcash as an exchange rate).
So, that basically should give me around $30 profit, less transaction fees for selling the zcash coins, and xferring back to my uk bank account.
To me this seems quite profitable....
Assuming that the amount mined stays relatively constant, would mean a break even exchange rate minimum of $80 usd to zcash. Also this assumes that the usd/gbp rate remains relatively constant as well. Additionally, if zcash can be sold for euros instead, i’ll Need to monitor that exchange rate pair (zcash/eur) instead of the usd rate pair.
So, some complications still to navigate, but it still I think remains encouraging...
Sign In
Follow the stocks
