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RE: Genesis Mining: 6 Days After 10 TH/s Bitcoin Mining Upgrade
I do understand that and I expect the contract to be cancelled much before 2140, in fact I do not expect it to last past 2030. That is why I only went through April 2029 in my projection. But I have nothing solid to base my assessment of the end-of-life on at this time. I would be presently surprised if it lasts longer than 2030.
I've never seen a cloud mining contract last more than about a year maybe 18 months. Hash rate increases too fast. As soon as the next generation of miners comes out contracts on those will be sold and the old ones will be declared end of life. If the company selling the contracts doesn't take the money and close up shop.
My first mining contract (for Ether mining) expires 5 July 2017. I will provide an update at that time. My X11 mining contract expires on 5 July 2018. I will provide another update at that time. I will answer the question as to whether I made money or not. Because those dates are around the July 4th holiday, I may be a few days late with my report.
I can tell you right now I do not expect the Ether mining contract to break even.