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RE: Cloud mining services profitability UPDATE #5

in #bitcoin7 years ago

Notable is that if you pay Genesis Mining with a credit card for your contract- don’t expect to ever get paid for the first month of your contract. I have 3 contracts with them since June: BTC, Monero & ETH. I’ve been paid nothing for the Monero and ETH contracts. The BTC contract, they have NEVER paid me for the first month (July). Their customer service takes about one month to reply. Then, they’ve lied about me getting paid - despite my account showing BTC stuck in my “pending payments”. That’s why i switched to mining with my own equipment. Yes, Antminers are expensive- but at least I have control over getting paid. Beware of any cloud mining service. They are NOT regulated and are usually based NOT in your country. That means that you have NO recourse. See my other posts about getting started in Mining or buying cryptocurrencies. I’ve posted updates about getting paid - or not - from mining as well.

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Thank you for detailed comment @sporte77. Could you estimate how many BTC you generate daily per TH/s now with Antmiter?

I’d recommend NiceHash’s profitability calculator to see what you can make with the Antminer. I take delivery of the Antminer in December. Right now, I’m running a couple Baikal’s. They generate 1050 mh/s on X11 algorithm. I’m averaging.0004 BTC per day.

Yes I got burned badly by HashOcean and however had not have any trouble with Hashflare.

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