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RE: Genesis Mining Contracts - Get mining and Now!
: / I don't like "naysaying" on someone's post, but I used them for ZEC mining and I could probably have bought five graphing calculators capable of pushing the hash that they sold me for the price. I wish I was joking. I would highly advise only using this service if you expect the coin to at least triple in value before the contract expires. (Edit: On the plus they do pay out at roughly the same time every single day 365/24/7 so they are reputable at ripping you off)
For example, I could have built a single board CPU only miner getting a higher hash rate for about 1/3rd of the price. I could have bought 3 graphics card capable of roughly 75x the hash for the same price. I'm not trying to sound like a dick when I say this, but if you are not able to figure out how to mine with an old machine or build a rig and just sell your hash to nicehash, you are better off just buying some bitcoin and holding it.
I completley agree with you and in fact have only ever bought one contract and that was bitcoin from a few a
years back... I have made well over my money back and get a payout for life on it.. All the other contracts I have are actually from advertising them on forums.. But yes, I agree building is the way to go but most people are clueless when it comes to that and prefer to just pay somebody /company to do it for them. Thanks for the good info though!
I hear you on that. The only reason I even did it with ZEC is I knew that having one of the first piece of a coin on the exchange would probably cover the cost of the contract and it pretty much did. It's insane the markup they charge and you can't even pick where your hash goes or verify that you you actually are mining at that rate in a pool. It's so easy to just download the nicehash autominer I usually recommend it to people that want an "easy" mining option. Realistically learning how to script a bat file and set launch parameters can be annoying for anyone not used to it or familiar with the general concepts. It's also unfortunately pretty much always better to use a linux OS too. I get why these services exist, I just think that they all drastically over value their contracts.
Yes I couldn't agree more! I have been mining for almost 5 years and I originally started out using bitcoin farm, bitcoin arm miner, coinotron, and different APK apps to mine btc and doge.. In the process I lost quite a few of those phone/keys, making me lose most of those satoshi.. All in all, I am still finding account today that have funds in them! :d