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RE: Genesis Mining: 6 Days After 10 TH/s Bitcoin Mining Upgrade

in #bitcoin7 years ago

Thanks for the update. I still feel there is much opportunity to lose money if conditions are not favorable all the time. If the price of lets say $BTC drops for 6 months, then payouts will drop significantly. Do you know what the time decay looks like on a 2 year contract. For example, how much do daily payments drop on the last month of the 2 year contract vs the first month on the contract? What is the profit margin on $BTC mining until break even? I'm still trying to understand why cloud mining is not a gamble and a good way to lose money in uncertain market conditions. Any additional insights by the Steem community would be very helpful for me to better understand how cloud mining works. Thanks!

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