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RE: [ANALYSIS] Genesis Mining "lifetime" BTC Cloud Mining Contracts
Yes, I have been looking at returns in two different ways, how long it takes to recoup the USD investment and how long it takes to recoup a BTC investment. It does make a difference. With a rising BTC price, the USD investment is recouped faster than the number of BTC used to buy the mining contract.
Great discussion and good points.
Have a nice day!
Steem on,
Mike
Thank you guys for this brilliant information. And @etcmike you have a great avatar. Check out Scrooge McDuck - His Life his Times by Don Rosa.
I feel that it is most important to be clear on what your objective is as an investor. Are you looking to make money/$ and profit on the contract or are you looking to generate btc/altcoins to hold onto for the medium-long term.
Personally, I am doing the later. I want to use my btc and eth contracts to generate coins and hope that they remain valid though the life of the contract - 1-2yrs on BTC and 2yrs on eth. Having completed a month on each, I now ONLY mine alts with both contracts through the automine option. I later exchange thes into 8 different coins on poloniex that look promising.
Sounds like a good strategy.
My objective is an additional passive income from mining. That is why in my latest post on BTC mining I gave the difference between recouping initial USD investment and the initial coin investment. Typically recouping the initial investment in coins takes longer.
Great comment!
Steem on,
Mike
Read your post on mining. The chart is a great way to estimate safety levels and if one has the capacity to tweak (diversify) the investment, nothing better. In the end it is all about putting in a 100% effort to ensure 150% returns.
I like your strategy. What is your genesis referral code? My code is: RUXnyi