9 Days With Genesis Mining
I stopped writing about my daily earnings (in case any of you were following those) because someone from Steem keeps marking them as spam, even though there's nothing in there that I would say suggests that (apart from maybe me sharing my affiliate code). Hate the double standards on steemit, as popular authors are giving a free pass. Anyway, so I've been with Genesis Mining 9 days on an Ethereum Contract of 30 MH/s (which cost me US$842.93 with a 3% discount as I used someone's affiliate code while signing up). Here's what's been going on so far:
First two days I had a good earning of 0.01490537 ETH and 0.01505611 ETH respectively;
Then I allocated 6 MH/s to ZCash (AUTO) 2nd day onwards -- where "auto" meant the ETH worth 6 MH/s that's mined during the day, is converted to ZEC at the day's exchange rate -- and my earnings for two days that followed were: 0.0125386 ETH + 0.00204347 ZEC and 0.01261017 ETH + 0.00167678 ZEC;
By Day 4 I had realized that ZEC wasn't actually being mined but converted, so I re-allocated all 30 MH/s to mining ETH for the following 5 days and I had an average earning of about 0.012957558 a day which isn't that great!
By Day 9 I allocated 7 MH/s back to ZEC mining and have earned an average of: 0.00893033 ZEC and 0.0101053833333333 ETH which is lower than my earlier earnings.
So from that, you can see that there's been a decline in my earnings in the latter half compared to the time I started off. I would like to wait and see if it picks up or continues to drop further. I would say try it out if getting your own rigs is not an option for you, as this does seem to have a benefit if you're in it for a long run, for short-term, this is a bad idea definitely!
Make sure you guys use my code 5mh2Ko and get 3% off of your next order at GenesisMining.com on me :) -- if someone's thinking of flagging my post for this message, I've copied this as is from "https://steemit.com/trevonjb/@trevonjb/i-went-inside-genesis-minings-bitcoin-and-ethereum-mining-farm" so you may want to flag that post too! By the way do check that link for trevonjb's video showing genesis mining's mining house in iceland.
Love the fact you've linked that post, too true the small fish get fried and the big fish get swim and grow stronger! Good post! I shall be using your code soon to upgrade my btc contract, just as soon as I've earned enough to buy more should be sometime this week!
Thank you! Do let me know when you do, I will return the favor :)!
Awesome @dannnielli ! I love Genesis Mining, I did all my contracts into ETH and have gotten a bunch of DASH, Monero and BTC from affiliate code usage, I just added your code to my list, here is mine! >>> NkQanX
Much love and success!
Thank you! I'll be buying a DASH contract worth $1000 or $2250 soon, so let me know if you use my code and I'll return the favor. Thanks!
People love DASH so that is smart, make it quick because they will disappear soon, I am going to do a BIG ETH contract buy soon to make my ETH contract an even hundred so if you do that big order, use my code and let me know here and ill make sure to use yours with my big buy also!
Alright, sounds good :)! But ETH is switching over to PoS in November, and mining ETH will end, you think that's a good investment right now?
I have heard yes and I have heard no, its just like everyone say on 8/1 BTC will split. Nothing confirmed in my eyes. Also GM has already confirmed through support ticket that if that does happen, we can just transfer contract worth to another available contract, right now the ETH payouts are too good to stop.
Hopefully DASH will still be available if then it happens. I have some x11 contracts fro affiliate code usage, so maybe if the pay from that is good the next few days Ill just do DASH instead of another ETH.
The BTC update on 8/1 is by Bitcoin Core developers (BIP 148) and they will be doing a hardfork as mentioned on numerous articles and also on their roadmap. However, they have said that the legacy BitCoin and the new one will work side-by-side, but many speculate the value of BTC can go up or down drastically following this. However, I personally believe we may see some fluctuation, but BTC will remain stable because it has become far too important and integrated to lose it's value completely at this point in time.
And when I contacted GM they said they'd give us an option to mine other coins that may be just as profitable, but I'd love to see a clear plan from them, because I'm sure a lot of people are worried about this; I, for one, for example, haven't upgraded my ETH contract for that very reason.
The thing with DASH is, it may not yield too much right away, but since it's difficulty doesn't rise as quickly as LTC, BTC and ETH, it will remain just as profitable in a long run, and since on GM we are in it for a long run, I think DASH comes out on top. Maybe, something to consider?
I think you just convinced me to do a BIG DASH x11 upgrade instead with your code, use mine on yours :)
Will do! You can count on it! I'm just waiting on the right BTC price to buy enough BTC to get the contract :)