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RE: G-rant about buying Bitcoin, earning Steem, Coinbase fees, Gemini surprise, and Changelly
This is really interesting. What are the returns on proxy mining? Is it profitable?
This is really interesting. What are the returns on proxy mining? Is it profitable?
it's very profitable for me, and that's all i know
Could you give me percentages? ROI and that kind of thing?
no, because I don't track that, I simply keep upgrading my lifetime bitcoin mining contract when I earn profit trading. It adds up over time and now my daily payment is about $2.50 per day in btc. As the price of bitcoin rises it's even more profitable. There is no way to predict the price of bitcoin in the future, if you expect the price will go up then genesis mining is a great way to get paid bitcoin everyday.
Ok, thanks for your answer. One more question. How much are you spending per month to get that return?
again, I don't track based on time, if I earn $100 profit today trading cryptocurrency on an exchange I get excited and to celebrate I spend $30 of that profit to upgrade my mining contract, by next week I will for get about the $30, and be happy to get the daily payment from genesis. The benefit for me is getting btc daily payments as a result of money I forgot about spending. If I did not spend it on genesis mining I would have probably spent in a lobster tails, or something disposable, that's life, money comes and goes, but with genesis it comes daily, and that's exciting to me.