Easy Peasy Bitcoin Mining & Other Crypto-coins -- [Howto]
Easy Peasy Bitcoin Mining
In an earlier post regarding Bitcoin mining, I explained that I had started virtual cloud Bitcoin Mining on Genesis Mining as of some 20 days ago in this Steemit Post. I started with the 15TH/s Bitcoin mining contract for .67btc. I have since received about .089 BTC. This comes out to about 13% of the initial Bitcoin investment which started June 9, 2017. I am actually quite surprised that the mining is actually doing this well, but as I have stated before, it seems as though the Bitcoin Network Hash Rate and Difficulty are not rising as quickly as usual. I my opinion, this is a good thing for most if not all Bitcoin miners. Although it might mean that Bitcoins and Bitcoin Blocks take longer to "mine," it also means that the hardware EOL will be extended. In the Bitcoin world, that extra time allotment means a better chance at break even or extra profits.
This is a chart showing the mining payouts
This chart shows the Bitcoin Network Hash Rate for the last 60 Days
Notice the rate increase in almost flat
Notice here Time Between Blocks is greater than 10 minutes
Bitcoin is designed so that the miners find a Block every 10 minutes on average
Good Signs
I believe that these 3 charts all indicate a good entry point into Bitcoin mining. I was skeptical at first but am now more optimistic about investing in Bitcoin mining. The next crossroad will be the August 1st date when the Bitcoin network is to decide on the next Bitcoin update. This is the only dark cloud on the Bitcoin horizon. I am not sure what Genesis-mining is planning to do if there is a Fork, but you could change your mining allocation to a different coin such as Litecoin, Monero or Ethereum. That is the extra cool part of mining with Genesis Mining.
Full Steem Ahead!
06/30/2017
@streetstyle
So You Want To Mine Bitcoin?
Code rT5ix8 =3% off + Bonus in STEEM!
I provide the bonus STEEM
sources:
Charts from Genesis-mining and Blockchain.info
I'm seriously considering to start mining as a side income.
Thx for the info :)
Keep us posted on how that goes @cryptodan
full steem ahead!
You 2 so I can learn some more. Im a caveman when it comes down to mining etc
I will do that
Steem on!
I think genesis is good for mining the altcoins like DASH or ETH i have seen that hashing 24 pays out slightly better than genesis mining does although the initial pricing is a bit higher in hashing24 @streetstyle.
If you want to join hashing24 please use my link to sign up it will help me a bit.
https://hashing24.com/?rid=53616c7465645f5fe2fdd30b4bc9a61af4a352a8751483b3
I am considering to join this bitcoin mining cloud but the fees and the lifetime contract are still something that stops me. I guess I will wait till august and see what happens with bitcoin, will definitely check your series about mining to stay up to date.
Great post man, ill make sure to use your code if i ever get enough money to buy a genesis mining contract.
Thanks @midgeteg And that would be great. The lowest contract is $60 dollar I think. I thought it was $30, but am told the minimum is $60.
Good post...
Will be looking forward to mine bitcoin soon....
I got a code for you if you do @cryptojd
sure ...
I'd never think that bitcoin mining will be stable and profitable this days!
And would even consinder trying it after the August news.
Oh well.. wish good luck to everyone.
Thank you for that information.
@yaan It isn't profitable for me yet, I have only received about 13% of my investment, and have 87% percent more to go. We shall see.
I am also a member of genesis mining but not started yet. Thanks for your update.
Well if you do @shirish5 I have a code for you, let me know. Thanks.
Surely I will inform you.
I like the idea to mine Litecoin in a cloud web because i had some equipment but they consume a lot of energy
That is a good reason to virtual cloud mine @dim753
Yes street it's the best way to mine without worries.
I am using genesis mining since last two years and my experience with it has been wonderful till now. You should check coinwarz site from time to time to check which coin mining is the best profitable at the moment and switch the mining alloction there on gm.
nice post