Two months of mining. It's looking good.

Everybodys favorite subject: How much money do you make? Thank you, I'm doing OK. And I thought it was time to update on how my first mining contract ever has been doing. And to sum it up, we're doing fine. In short: 20. of march I did something I never thought I would. But I did. And no, I don't regret. So all the Genesis Mining haters will have to unite. Because the numbers begin to add up.

Starting off march 20.

Dagger-hashimoto 2 Mh/s (ethereum)*
Scrypt Hashing 2 Mh/s (Litecoin)
X 11 5 Mh/s (Dash)

Total cost: 108 USD +a fee

At April 20.

After 1 month of mining with X11 and dagger-Hashimoto at Bitcoin mining and Scrypt at Litecoin mining, the situation looked like this:

At May 20.

After the first month, I switched the dagger-hashimoto to Ethereum and X 11 to Dash. And this is how that has panned out:

I have not sold or traded any of these yet. I almost sold my Litecoins at .02, but I decided to wait. In hindsight i regret that decission, but there will be a new chance. I'm almost certain.

Profitability

By the rate the market is moving now, the contracts I'm running will be profitable after 6 months. And this is the starter options at Genesis. Per hash they cost more than the more extensive plans. To be honest, I have never walked into a market where doubling the money is this quick. I think it will even escalate, but that is me. To be exposed to the dynamics of this still young market is not for everybody and noone should consider this an investment advice.

Is Genesis a scam?

Yes, it is a scam. Like any legitimate business has making a proftit their goal, Genesis is most definitely a scam. I am a scam when i make logotypes, magazines and when I steem, I do it for profit. So if that is your only contribution to this topic, piss off. I have my gripes with Genesis and the biggest one is that is really difficult to hold them accountable. The best example is Ethereum, that has a .05 limit before they pay out. In itself not a problem, I like it when money come in big chunks and not small drizzles. But they do not account your balance each day. You can certainly do that yourself, but it should not be necessary.

Is Genesis for you?

I don't reccommend anybody to play with their money they are not willing to risk. But if you do, humor me by using the promocode Vqgrc7 It will give you 3% off your purchase. You find them here: https://www.genesis-mining.com/

*ERRATUM: I stated this number to be 60 last month. The correct is it cost me 60 USD. It is 2 Mh/s