3 Months of Genesis-Mining (Review): Day 88 - Bitcoin Cloud Mining | Full Disclosure
We are now almost three months in to my bitcoin mining contract with Genesis-Mining.
Today Genesis-Mining announced they got BTC-Mining contracts back in stock.
Thanks to the recent explosion in bitcoin price our $ ROI has increased dramatically, and BTC returns are as high as at the beginning of our contract.
We now have 21,37% returned of our initial Bitcoin investment. If we continue at this rate, we will have the investment in BTC back in a little over 11 months from now.
This means the total time to ROI would be 1 year and 2 months+!
Will be interesting to see, but right now for the first time I really believe there is a chance to get your investment in BTC back and maybe make a little profit on top.
For more information have a look at these graphs:
As you can see, if you bought your contract with $ and sold your total of earned BTC now for $ you would already get back 51% of your investment.
That beeing said you would have been much better off just buying BTC instead as it is now worth almost 3x the value compared to three months back.
The BTC ROI is at 21%, the current average earned is 0.00021683 BTC per day.
Here are all relevant stats:
BTC earned today: 0.00119933 BTC (0 BTC during the five days before)
BTC earned total: 0.01908060 BTC
BTC earned average per day: 00021683
$ avg. earned per day: 35ct
$ earned total: $30,99
$ total value now: $54,19
ROI % (BTC): 21,37%
ROI % ($): 30,43%
ROI % ($ now): 53,2%
If you decide to buy a mining contract, on checkout use this 3% coupon: ZRUYAk
Here is a link to Genesis-Mining.
You will get back 50% (minus tx fee) of my affiliate profit from your purchase if you let me know in the comments here.
I still believe that just holding your BTC is the safer option, though.
follow me @xwerk _ʕ•ᴥ•ʔノ
Really got into Genesis mining a few weeks ago for ETH and was doing them in bigger bulk buys, but I started doing it just $25 increments so I could use other people's affiliate codes and hoping they will use mine next time too!
I just used yours, it was only for +1 MH/s for ETH at $25 but looking to spread the love! I followed you also, trying to connect with people here on STEEMIT!
Next time you upgrade your hashpower use my code! NkQanX
A while ago I tried to calculate how often you need to by a mining contract in order to stay ahead of the mining difficulty rate increase if you only bought $30 contracts. What I found was that you'd need to purchase at least one $30 mining contract every 58 days in order to stay ahead. I feel like what I've found synergizes with your data well.
Thanks for your input! So you are saying by upgrading every 58 days you will get back your ROI? Too tired right now to understand why, can you explain?
What I'm saying is if the price of bitcoin stayed the exact same as when you bought the contract, you'd have to buy a $30 contract about every 58 days in order for the decrease in your ROI rate to not happen.
Unless you have a compounding feature like we have, to counter the increasing mining difficulty rate :)