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?