Dump My Dash for a mining contract?

in cryptocurrency •  2 years ago

I am anti-mining. I've found it more profitable to buy and hold. After researching The Genesis Dash X11 mining contracts, I am heavily considering dumping some of my dash into a mining contract.

For some reason they will only let me order $100 per day, still haven't found out the reasoning. 15 MH/s at .462 Dash is what I can obtain now

#!001_MicrosoftEdge_User_Default_WebNotes_Microsoft-Edge-Web-Notes-Cloud-Min420280375.jpg

According to the mining calculator I would receive about a 35% profit in Dash terms after the first year of a 2 year contract. Hopefully leaving year 2 as pure profit. It still seems a little fishy to me but risking about half a dash for a shot seems worth it.

#!001_MicrosoftEdge_User_Default_WebNotes_Microsoft-Edge-Web-Notes-Dash-Mini420364343.jpg

Would love to hear from anyone who has taken the plunge into Genesis mining. Let me know about your experiences or any warnings that I should be wary about. Thanks!

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

I am currently using genesis mining and it has worked out successfully. 100 is the daily limit to ensure that the contract is available to the rest of their customers.

On another note, if you decide to sign up, please use my genesis mining code for 3% discount. Make sure you give me yours so I may return the favor. Thanks

lfFUOP

·

Congrats @official-bitbean You won the random lottery and I will be using your code

Some calculatons show you're always better off just buying the currency if you have the option. Be mindful the mining difficulty is going up too so the mining profits can drop if the price doesnt rise.

·

Trust me, I've been anti-mining for a while. but after researching I believe I can get .9 Dash at least over 2 years at the cost of .462 Dash. That isn't much of my Dash holdings to be risking either

·
·

Well if you already got DASH it only makes sense investing it into more dash. The calculations I was talking about is buying contracts with fiat money

Hey thanks for the post. I have recently started mining dash on Genesis. I think the reason for the $100 max is they don't want the whales to buy up all the contracts. I think it allows smaller investors to get into the Dash contracts.

I like the idea of passive returns over the next two years and Dash has a very promising upside potential. I plan on buying and holding the smaller coins but for the larger ones I'll stick to cloud mining.

Here is my recent video of me upgrading earlier.
https://steemit.com/cryptocurrency/@dre5025/genesis-mining-upgrade-dash-x11-contract-upgrade-2

3% off code for Genesis Mining: rsCGem

You are now being followed!

I've used Genesis for just over a month now, and I can say it's great. My dashboard is showing over $70 return so far. If you have the dash to spare, I would pull the trigger. I do recommend also upgrading bitcoin miners, as they are open ended! Here this code if you would like a 3% discount on any of your upgrades or purchases "EzIG8D"