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RE: Genesis-mining - Crypto mining payout halts [Updates]
My payouts have resumed, but they are seven days behind. I'm still a bit upset with Genesis for running the huge transaction that likely caused the flash crash on the busiest day in ETH history.
https://steemit.com/ethereum/@esparky/did-genesis-accidentally-cause-the-ethereum-flash-crash
@esparky
Thanks for updates. I just feel like buying altcoins or bitcoin from exchange is much better than mining with contracts unless you've the mining farm or machines setup already. what do you think?
@fundoing
I agree that buying coins directly (during the last couple of months) made more sense, not sure how things will work out if the coin market goes flat -- mining may make more sense if we have a couple year flat spell.
I have two minimum ETH contracts w Genesis that I bought with BTC profits. When the market was on the upward trend mining made sense, but I had no idea that the difficulty would increase this rapidly. On April 7, 1 MH/s paid 0.00175158 ETH on June 17, 2 MH/s paid 0.00111374 ETH.
Since that time I split the processing between ETH and ZEC, the ZEC mining is a little more profitable by percent of coin.
As for running my own mining equipment, this was something I wanted to do when BTC was $20, but I can't justify a couple thousand $ now. I will stay with Genesis, concentrating on more obscure coins now, my minuscule ETH payouts will go to promising ICOs.
This morning, Genesis made a payout to my wallet, but did not update the daily transactions since the 22nd (on their ledger).