Genesis mining , Burst coins and Steem are horseshit on a fancy plate. Garbage! just buy bitcoin...go look and see the proof by yourself. Where is bitcoin at today in the charts?
Sorry Craig i don't mean to rain down on your party...i just want to share my point of view on how I see things from experiencing it. I just want to help others before they commit the same mistake i made.
I have mixed feelings about GM ... they cancelled my lifetime contract due to being unprofitable meanwhile selling contracts based on new hardware ... all that said I reached a ROI as the price of BTC raised in the time I was mining there ... I currently use Hashnest's S9 miners which I can sell when they'll become less profitable ...
Anyway remember that all hardware will become obsolete at some point and no contract is for a lifetime ...
I'm sorry but it's not ... You're upgrading only the quantity of your hashpower and not the hardware itself - so if a part of your hashpower is on a unprofitable hardware it'll get canceled ... And they don't really disclose how profitable is the current hardware ...
Of course it makes a lot of sense since otherwise they'd have to upgrade your hardware for free ... I'm just saying it isn't really honest to call the contracts "lifetime" ... it's more like "hardware lifetime" :)
I beat every fear about the contract by upgrading every week with the profit I get paid daily. By earning more than it cost me to upgrade I stay ahead of the game and in the profit for all time, hence lifetime contract
what makes sense to me is genesis mining has had new customers everyday for many years already, and customers upgrading contracts every week, so they will be in business for all time, and I'm already in the profit, by upgrading my contract every week
OK but ... let's say you have to have around 10THash at this point which generates ~31$/week ... you invest back 30$ and earn 1$ ... that means you end up with additional 0.2THash and 1$ earnings per week ... for 10THash the ROI at that rate is around 25 years or 1400 weeks ...
Buying 0.2THash weekly you get 2% increase in your mining power (when starting at 10TH) but you further your ROI by ~30 weeks (as you earn 1$ + 2% per week) ...
does not matter what the math says because I'm investing bitcoin paid to me by my contract to increase my daily payments and maintain the longevity of my lifetime contract, the profit comes from bitcoin price going up and me having more valueable btc on hand and being paid daily, than it cost me to upgrade every week
I'm not sure if I'd recommend it any more than GM as there is always risk ... but at least they're manufacturing their own hardware and you can sell the shares when they get less profitable ... or when their price will rise - actually at this moment most of my S9 shares was bought at 0.00013 BTC per GHS and now they're at 0.00016 BTC ... so that's a profit just from trading shares ...
I trade all day everyday there. Thirds Rule!!! Follow me and view my Blogs or find me in the troll box. More than happy to show you how Thirds Rule works.
I just started to try out genesis mining. I am about to upgrade my contract. I will use your code. I would like to be part of your community. I watch your videos everyday.
Genesis mining , Burst coins and Steem are horseshit on a fancy plate. Garbage! just buy bitcoin...go look and see the proof by yourself. Where is bitcoin at today in the charts?
I can buy bitcoin, but I cant hold bitcoin, because I don't fear money, so I can never run out of it
Sorry Craig i don't mean to rain down on your party...i just want to share my point of view on how I see things from experiencing it. I just want to help others before they commit the same mistake i made.
I have mixed feelings about GM ... they cancelled my lifetime contract due to being unprofitable meanwhile selling contracts based on new hardware ... all that said I reached a ROI as the price of BTC raised in the time I was mining there ... I currently use Hashnest's S9 miners which I can sell when they'll become less profitable ...
Anyway remember that all hardware will become obsolete at some point and no contract is for a lifetime ...
with Genesis Mining the only guaranteed way to win is to upgrade every week for the life of the contract
I'm sorry but it's not ... You're upgrading only the quantity of your hashpower and not the hardware itself - so if a part of your hashpower is on a unprofitable hardware it'll get canceled ... And they don't really disclose how profitable is the current hardware ...
Of course it makes a lot of sense since otherwise they'd have to upgrade your hardware for free ... I'm just saying it isn't really honest to call the contracts "lifetime" ... it's more like "hardware lifetime" :)
I beat every fear about the contract by upgrading every week with the profit I get paid daily. By earning more than it cost me to upgrade I stay ahead of the game and in the profit for all time, hence lifetime contract
what makes sense to me is genesis mining has had new customers everyday for many years already, and customers upgrading contracts every week, so they will be in business for all time, and I'm already in the profit, by upgrading my contract every week
OK but ... let's say you have to have around 10THash at this point which generates ~31$/week ... you invest back 30$ and earn 1$ ... that means you end up with additional 0.2THash and 1$ earnings per week ... for 10THash the ROI at that rate is around 25 years or 1400 weeks ...
Buying 0.2THash weekly you get 2% increase in your mining power (when starting at 10TH) but you further your ROI by ~30 weeks (as you earn 1$ + 2% per week) ...
Or maybe my math is messed up ? ;D
does not matter what the math says because I'm investing bitcoin paid to me by my contract to increase my daily payments and maintain the longevity of my lifetime contract, the profit comes from bitcoin price going up and me having more valueable btc on hand and being paid daily, than it cost me to upgrade every week
I been using Hashnest for years...you have to trade your hashes no differently from any alt coin. Any btc mined during your trades is just a bonus.
FranksIn©
I'm not sure if I'd recommend it any more than GM as there is always risk ... but at least they're manufacturing their own hardware and you can sell the shares when they get less profitable ... or when their price will rise - actually at this moment most of my S9 shares was bought at 0.00013 BTC per GHS and now they're at 0.00016 BTC ... so that's a profit just from trading shares ...
I trade all day everyday there. Thirds Rule!!! Follow me and view my Blogs or find me in the troll box. More than happy to show you how Thirds Rule works.
FranksIn©
I just started to try out genesis mining. I am about to upgrade my contract. I will use your code. I would like to be part of your community. I watch your videos everyday.
perfect