Genesis mining day 45 - 60% decrease !!
It is day 45 on my 10mh ETH clouding mining (investment: USD 291), as the difficulty continues to increase, the unit per day has remain decreased from 0.0037 to 0.0035.
Beware: If you want to invest your own mining rig now, ensure you calculate your cost carefully, with ETH drops to 200+ level, the breakeven period to invest a 6 mining rig would be around 13.3 months!
With the ETH price bounce back at 200+, eth/day has decreased again (from 0.0087 to 0.0035- A 60% decreases in eth / day!!)
Finger cross that it will still time for me to break even and at least to get some return back after the contract ends.
For the current projection, I make
17.88% return for capital.
breakeven period is around 8.4 months
This assumes:
the price remains unchanged
difficulty remains the same
Therefore the projection is likely to be overestimated but good that the contract is for 2 years and therefore still plenty of time to make up.
Just hold onto you ETH and sell it in a year
You should mine litecoin or dash to quick ROI. Usually it takes something like 80 days to break even on lintecoin mining.
I signed up for a contract as well, for two years and this decrease is coming at a bad time for me. I was planning on certain distribution of the $ I was going to make but now I can't sell my ether, it's not worth it. Luckily I have the luxury of plan B and will hold on to my ETH until there will be a better time to sell. Thanks for your post.
yeah it will be even worse if people get in now :(
I have been with you for a while. I also bought power at Genesis Mining and I regret because I should have bought directly from Bitcoin. I would have made more money.
ya no doubt. guess the only way to get away from this is to see a big increase in ETH :(
wonderfull .......
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