Bring Out the Pick Axes.... It's Time to Go Bitcoin Mining -
It's Time to Go Bitcoin Mining
Show me the Results
I am writing this post for those that have read a few of my prior posts on Genesis-Mining. I almost decided not to write this up thinking that it would not be an accurate description of what my Bitcoin mining experience and ROI has been. The thinking is that since a few of you have kindly used my referral code for Genesis-Mining, that the numbers would no longer be accurate due to the fact that I have received small increments of mining hashing power for those referrals. Yet I still write this to show my results because in all fairness to Genesis-mining, the referral codes and commissions are open to everyone who purchases a mining contract on Genesis-mining, making it a level playing field for all to potentially achieve similar results.
I started my contract with Genesis on June 9th, 2017 and received my first Bitcoin payout the following day. I have since been receiving daily Bitcoin payouts from the mining contract. Between the 15TH/s Bitcoin mining contract and the small increase in hashing power from the referrals, I have currently received a little over 16% of my Bitcoin investment. I believe that I have been somewhat fortunate with the timing of my purchasing this Bitcoin mining contract. It seems that the Bitcoin Hash Rate and Difficulty have not risen as sharply as they normally do. This has allowed for most Bitcoin mining hardware and mining contracts to have a better chance at breaking even or making a profit. I am not sure how long this good fortune will last as I see that recently the network did see a spike in Hashing power of about 20%. It has since backed off that 20% spike but for how long?
On a sweeter but strange note, it seems that the Bitcoin difficulty went down this last period. This has only occurred once in the last 365 days, until the recent decrease in hashing difficulty that occurred on July 1st. The prior period difficulty was set at 711,697,198,173 and then decreased by 0.4% to 708,659,466,230. This will hopefully allow all bitcoin miners to extend the life of their hardware or contracts. This will most likely not last long, with the next difficulty change expected in about 8 days with an increase of about 12%. I expect this to mean about a 12% decrease in mining output. For now enjoy the smooth sailing both on the Bitcoin network as well as on a nice steady price holding at around $2600.
Total earned so far is about $293 USD
Full Steem Ahead!
07/06/2017
@streetstyle
So You Want To Mine Bitcoin?
Code rT5ix8 =3% off + Bonus in STEEM!
I provide the bonus STEEM
Use referral link, join team,
fund a loan & You will be rewarded
with Steem as small token of appreciation.
Pic Source:
Pic 1 Pixabay
Well.. even though i was quite sсeptical about mining bitcoin, 16% is not a bad result for one month.
I'm rooting for you man to get at least 125% from that investment.
Always waiting for your informative articles!)
Thanks @yaan And I really thank you for the support and the cheering on even though 125% is the realm of fantasy, one can dream I guess. I will be happy with break even or a slight gain of btc. We shall see. It only goes down from here!
Great post, Ive been doing a lot of reinvesting lately trying to get my hashrate up
Good to know @bigtakosensei I do offer small token of appreciation in Steem when using my code. Thanks and good luck!
full steem ahead!
Nice to know I'll keep that in mind next time I upgrade
would you still recommand other people to join? and if yes with which amount would you start with
@tzap90 Honestly, at this point I can not fully recommend because I myself have just started and Have not made a Return on my Investment. It doesn't mean I won't, but there is no guarantee that I will. I just started about 1 month and have about 16% of my Bitcoin back so not bad, but it only gets harder from here, so ........ proceed with caution and only invest what you can lose and not cry, fret, worry, complain or whine about. Stay tuned for more info.
full steem ahead!
I'm minig dash there it's an awesome cloud mining website
I agree that the mining part is awesome since it is relatively easy @dim753 Now if I can just make ROI then all would be peachy!!
yes street i tried physical mining but the cost were too high so i had to change the way and i found that cloud mining it's more profitable in my case
That is what I tell people when they ask me about mining @dim753 I think you can still make a go of it at home/DIY but cloud mining does take away a lot of hassles from physical mining. Trust, I had a farm once.
I just started with Genesis mining today, I hope my contract can last for a while..
Good luck!! Wished i would have posted sooner, maybe you would have used my code too @misterholland !! Ah oh well...maybe next time. But yes, I do hope your endeavors do well.
full steem ahead!
Thanks!! yes perhaps next time again :)
I am thinking of opening a mining farm in russia.
Energy is very cheap there. We will see.
If bitcoin is at 6000usd i can think about this more realistic.
I recognize that you use your slider to choose which comment has more value.
Other just upvote all the same of there followers. But ok.
I can downvote ;-)
I mean look here:
https://steemit.com/trevonjb/@trevonjb/live-intangible-coin-chat-or-winning
I think he is telling people to save coins in exodus??? I like exodus but i would never save more then
1000USD there.
I hope you join the next flag fight for more knowledge and educated people.
I am not sure if some are bots or just copy/paste replies so yes I sometimes moderate my votes @tuvokhl As for farming bitcoin, It can make alot of money with the right investment/operation.
Another good, informative article, man! I never thought about getting into bitcoin mining, mostly because my friend did it and almost burned his house down thanks to a power strip catching fire from his mining setup, lol.
That is why I eventually let my farm go... it was getting out of hand. I even had miners in my bedroom buzzing all night. But Cloud mining, now that is convenient. I only wished I had got into it sooner @deadspace
Greaaat :D .. I appriciate it
Thank you for sharing @streetstyle
Have a nice day :)
You are welcome @hicmaster Glad you enjoyed!
full steem ahead!
According to my calculations the Break-Even-Point is approximately 9 months as described by Genesis Mining. I am happy with all of my contract purchases and will continue to upgrade.
Thanks for the info @traffical Can you point me in the direction of the calculator you used, please? I haven't found one that factors in future difficulty. Also, another thing I was looking for was info. on the average 3 mos, 6 mos. 1 year difficulty changes. Maybe you might know?
Im buying a S4 antminer for 250$ off ebay soon, plug and play baby!
Oh boy, I now remember those beasts, thanks for reminding me @skrapa33 My back remembers too! hehehe... anyway have fun and use coinwarz.com for info. on the best coin to mine.