Day 3 With Genesis Mining Ethereum Contract
So third day into Ethereum mining contract I had allocated 6 Mh/s to "ZCash (Auto)" mining -- the auto part basically means 6 Mh/s worth of Ethereum will be exchanged for ZCash at the day's rate. As soon as I read that, I reverted back to 30 Mh/s all to Ethereum mining. So, my yield for the day was:
dagger-hashimoto ZEC balance of 0.00204347 added to your account on 2017-06-23T12:00:00+00:00
dagger-hashimoto ETH balance of 0.0125386 added to your account on 2017-06-23T12:00:00+00:00
Which in my opinion isn't too great so far, it's not too bad either I suppose. But I do see a problem with how it takes ages for them to update the daily earnings! It really needs to be real-time I think!
Anyway, let's see how Day 4 goes. If you're thinking of buying a contract on genesis mining, use my referral code "5mh2Ko" to receive a 3% discount! Leave a message in the comments section below if you use it, I'll use yours too when I upgrade my hashing power. Thank you!
At the end of Day 3 my total Ethereum earnings are: 0.04250008 + 0.00204347 ZEC .. on a 30 Mh/s mining contract which is roughly: $13.94002624 + $0.7829146611
Good luck.
Thank you!
You are welcome.
Haha I like how you upvoted my comment :D it made me 19 cents richer lol
You are welcome again and followed you as well.
Thank you! Followed you back :D!
NP
Just curious, how much did you pay and how much have you earned in total so far? I have been considering Genesis for a long while since my BTC miner is loud as Hell.
Paid $842.93 (used someones referral code to get 3% off); and in 3 days I've made 0.04250008 ETH + 0.00204347 ZEC; it doesn't seem profitable in the short-term, but maybe more so in long-term. Considering, however, how ethereum may switch to PoS sometime in the near future, it might be a bit risky right now. But if you're looking for BitCoin mining, you need to beware that they deduct some small fraction of bitcoin from your daily yield as "maintenance fee" which is why I didn't get on bitcoin mining.
Ok cool. Yeah I have been weary of mining because it seems like in general the pay off is not great in the short term and many times unprofitable on a small scale. Well, since I am too scared to mine myself, I'll have to follow your progress. Ya got a new follower :)
Thank you! I was initially looking to invest much more into it, but now I'm holding back till Ethereum's big switch to PoS, and on the other hand BitCoin will be making the segwit upgrade which can also lead to a hardfork. So risk involved in both right now. I guess the safest bet right now is LTC, ZEC and DASH, but then again if you wanted to play safe, you wouldn't be in the cryptocurrency business lol
Anyway, I'll make sure to post updates to my mining progress everyday, thanks again for the follow!
Haha yeah exactly. I only invest my Steemit earnings in crypto... mostly because I have no patience and end up making bad decisions. Anyway, I started by putting it all into BTC when I cashed out. But, that is boring and the risk is pretty low. THIS IS CRYPTO! You are doing it wrong if you're only looking for the safest bet haha. heers!
How much do you earn through steemit? I have been posting a lot, but making chump change lol
I don't understand Genesis Mining - how much did you pay? What this 2 years contract means - you'll have to pay beforehand, or by month?
I think their site is a mess, it's not easy to understand...
And while your experience is of much value, the post is very lack: can you withdraw the coins? How did you manage to get in this contract? How did choose the right one?
Anyway, thanks for posting.
It was a 2 year ethereum contract (and i found the payment bit confusing at first too so i reached out to them); it's one-off payment for a 2 year contract beforehand.
And if you read my posts from day 1, you will see that I pointed out you can't cash out for the first 30 days when you buy a contract (it's their policy); once that period elapses, I'll see what happens.
And I got into this contract, because getting a mining rig wasn't an option for me, and this seemed somewhat viable. I read a lot of negative reviews on the internet which made me hesitant at first, but then I had some cash set aside for ethereum mining which I thought I'd dump into genesis and see how it works and if it's useful. If you work by the premise that the coin you're mining will go up in value over the time you're in contract with them, then you do make your money back fast, and also more on top of it. Plus you recover your money (particularly in my case) in about 8 months. Everything beyond that is profit.
I created an account to understand it better. So they charge the whole 2 years before hand - wow you must have guts!
They also have an open ended Bitcoin plan, but they won't accept credit card (US), just other crypto currencies.
Thanks for sharing your experience, I'll wait you confirm your first payment/withdraw to jump in :)
They do accept a US Credit Card, that's how I paid for it!
It has been 4 months my contract with genesis-mining.com they pay the payouts, but haven't BEP yet!
What's "BEP"?
Hi, I just start in genesis and same of you i create à blog : https://steemit.com/bitcoin/@noblus-gaming/genesis-mining-aventure-day-1
And for my second purchase i have use your code :)
If you can use mine in return : x0tmHz
and follow me, thanks for the support
cool! what did u buy?
Bitcoin contract
Cool, I'll let you know when I upgrade! Do you also use hashflare?
Thanks man for yours support, And no i don't use Hashflare, genesis mining is better.