Genesis day 32 - Payout!!!
It is day 32 on my 10mh ETH clouding mining (investment: USD 291), as the difficulty continues to increase, the unit per day has increased from 0.0047 to 0.0044.
Beware: If you want to invest your own mining rig now, ensure you calculate your cost carefully, with ETH drops to 200+ level, the breakeven period to invest a 6 mining rig would be around 6 months!
With the ETH price bounce back at 200+, eth/day has decreased again (from 0.0087 to 0.0044- A 49% decreases in eth / day!!)
Finger cross that it will still time for me to break even and at least to get some return back after the contract ends.
For the current projection, I make
20.48% return for capital.
breakeven period is around 5.2 months
This assumes:
the price remains unchanged
difficulty remains the same
Therefore the projection is likely to be overestimated but good that the contract is for 2 years and therefore still plenty of time to make up.
Thanks for your sharing! I just know you have invest 10MH for mining. I just inverest 4 for it..Do you think the projection will be just the same? or it is a totally different story if I just invest 4? and you know what? Gensis mining now open the bitcoin mining again, do you think it worth to invest? Thanks!
Hello there, thank you for your comment. The story will be exactly the same for 4mh if you invest with me the same day. Technically if you invest earlier, then you return number is likely to be higher. I consider btc before but decide not to go for it because like eth, the difficulty now is just off the chart.
Hello, Correct me if i'm wrong but here is my hypothesis: More people use Ethereum-> more exchanges->more difficulties But since there is more people using it it means that the value of 1 Ethereum would increase. In final it will be balanced this way and always (if the prices continues to increase) be profitable enev though the difficulty goes up.
What do you think ?
It seem that it is not a stable business....
I invested 4MH as well! 3 more days until the actual payout: transfer to wallet or exchange.
I am still not sure if I should have them send to my wallet or Poloniex. Will be very useful if you can share your experience of ETH payout.
I will determine mine with reference to yours.
Thanks a lot.
i feel your pain.. Actually Im having an issue with Genesis that is really bothering me... Their payout system.....
So With My ETH I want a payout with Steem.... There threshold for payout is 1. I did the math and right now I'm at 3.something.... I've been talking with customer support about it but their answers make zero sense... "Wait until the amount reaches that threshold..." WHICH IT HAS.. 3 times.... and when you dont get a pay out it says its going to your Coin balance.. But Idk about ya'll I dont see a coin balance and the pending balance payout always says 00000000 ..
There is a typo? Not increased but decreased?
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