Is Genesis Mining too late to mine or mine on your own?
In genesis mining a lot has change so is it too late to mine at genesis mining? There only 3 option left to buy before they are sold out. Bitcoin, Monero and Ethereum Hashpower. Prices has change over past year. The Bitcoin contract is long term so it will never close ever. For Monero, the contract is only 2 year long then you either re-buy it or buy something else. For Ethereum yes it will close on you if there no downtime, censorship, third party interference or fraud in the decentralize program. It a risk and cost more money to get small amount of ETH Hashpower. $30 buck for only 1 Hash is a bad deal. I prefer to avoid that one and stick with Bitcoin until they restock DASH or any other Hashpower. Monero is slow to produce several coin since it run the cryptonight algorithm. As in now I think it a bit late to start earning like crazy.
Only option is mining ETH with AMD graphic card from x290 to x480 and have the money to pay the electricity bill. In here @jerrybanfield explain on how to generate an equivalent to $200 a day. https://steemit.com/cryptocurrency/@jerrybanfield/usd200-a-day-mining-ethereum-or-etc . You can go for that and earn profit if you got the money otherwise try your way of mining with one gpu like me when I was new to cryptocurrency. Signing up for genesis mining is another choice, use my code for 3% off exI7qR and mine some LTC. Stick with LTC if you believe it could be worth 100 or more dollar in the market in the future. Focus more on mining Bitshare and Zcash. Zcash is at the level Ethereum at and Bitshare is still young and growing. Bitcoin Hashpower together which I am currently doing in genesis mining. Before reading further look at the chart bellow.
Golem
Steem
I am not a Financial Advisor. You can transfer your reward to either Bittrex or Poloniex and exchange it for Steem or Golem. I think Golem would be the first to own more than anything else. It a token that run on Ethereum platform. Investing is Investing. You can mine what I am currently in or mine all other kinds of coin. Thank for reading.
I think genesis mining is a scam. why would they just use their equipment to mine for themselves with their almost free electricity? the only way to make real money in genesis mining is by using their affiliate program
My belife is that they use, contracts to hedge and buy gear with for one contract they probably can buy more mining equpment for there own use.
This shuld make there farms grow faster than just mining and reinvesting.
Build a farm sell out % of the gear in contracts, mine on your own gear for "free" and still ern service fees and such.
Thats true I didn't think about that, but how big do you think they want to grow? their operation is already huge!
Online mining is scam of course. I mean it's not exactly a scam but you will not get a good profit from this. But mining on your own machine mining in house it's great. I mining ethereum on 4x gtx1070 and my profit after 1 month is arround 300-450$ clean. arround 75-100$ I pay for electric power.
how many MH you be getting per gtx1070?
Arround 22-28 per one gtx1070 if working x2 gpu's
Arround 20-24 if all x4 gpu are working.
If only 1x gtx1070 is working I getting arrounfd 24-28 mh's + 2/-2 sometimes
That is neat. I got to try that when I got the $$$. Thank for the info
That not true that it a scam. Think about how much increase in the market of several coin price has turn out this year. Look at Zcash. it reach $400 today. It almost at the level Ethereum at. Dash price just incremented all the way up to 200 dollar about 2 days ago. The amount of money you put to invest can earn you back either double or triple the amount within a couple month than a 1 year. It also depend what contract your buying to generate coin. Like me I still buy Bitcoin contract for ZEC. For Dash it too late to invest if you didn't buy it when it was on stock. Once you buy like the 20MH contract for DASH, genesis mining would be making 3x the amount as Bitcoin contract does. Think about it. Using affiliate also increase the earning too but it not that easy now a day.
Youre just saying price in coins are rising, I agree with that. But the same thing would happen if you just bought some and held it.
Genesis mining is NOT scam. Using it for a long time.
Join free: https://www.genesis-mining.com/a/577210
Buy and hodl !
ight
Welcome to the platform, I wish everything work out for you. It’s not easy here but not difficult neither but just ask an extra effort, engagement is the key good luck I’m @zohaibkhan Start by following people and they will do the same.
I think genesis mining is great. I earn daily payouts as well as use my own gaming rig to min while I'm away from the PC. Hopefully doing this for years will pay off!
Same here. For now I am currently waiting for Ethereum Blockchain to finish downloading so I can start mining some coins
Just checked my total payout about ~300usd. (i've invested ~100usd ~7months ago). In the picture you see 245usd ., but that's because last month or more i'm mining other coins, so they are not visible in this chart.
Everything works well (payouts, setup and etc.). Especially i like, that now it is time to put more money :)
https://www.genesis-mining.com/a/577210
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