GENESIS-MINING Review: Day 6 - Bitcoin Cloud Mining | full disclosure + Steem/BTC giveaway - FIRST DISAPPOINTMENT
I was away for five days. Now I finally come to post an update again.
And I have to say: I am disappointed with Genesis-Mining.
If you wonder why I started a mining-contract in the first place, read my Day 0 Genesis-Mining article here.
To understand why I am not too happy, let's take a look at the payments I received so far:
I received 0.00020026 BTC on average every day since I bought my 0.7 TH/s contract
Here are the latest ROI graphs:
And here all relevant stats:
- BTC earned this day: 0.00022654 BTC
- BTC earned tota:l 0.00140181 BTC
- BTC earned average per day: 0.00020026 BTC
- $ earned this day: $0.25
- $ earned total: $1.66
- total $ value of received BTC now: $1.55
- expected time to ROI (constant mining difficulty): 382 days
This looks to me as if payments do not increase for the next payouts and difficulty continues going up, reaching ROI will probably be impossible!
Note: I'll be giving away 50% of my STEEM earnings and 50% of the referral BTC for these posts.
To join the giveaway for STEEM, simply follow me. Estimated day of Giveaway will be next full moon! Parallel to the Byteball Airdrop.
To join the giveaways for referral BTC, leave a comment on how much you spend and on which contract. Spams/guesses will be permanently banned.
This is the 3% coupon you should use on checkout: ZRUYAk
And here is a link to Genesis-Mining.
- STEEM in follower lottery pool: 1.40
- BTC in referral lottery pool: 0.00
Note: This a 100% power-up post!
That's interesting. I have always been fascinated by genesis mining and took out a small 5Th contract. The payments are piddly. If they stayed the same i would profit but if they go down definitely not. My contact cost 0.02 BTC if i remember correctly. It worked out about twenty quid
The way G/M works is to do more frequent upgrades, BTC is a little slow in getting you ROI back but DASH is the one to mine currently on G/M I am getting my ROI back in just under 5 Months per upgrade, Hope this helps, MIKE
So you mean to just keep upgrading everything month? I was tempted but was worrying i would just be frittering my money away. I have gone for dash too!
This is what i have taken from it, Until you get to like 10TH of BTC then the pay outs are small and low, I personally would upgrade you dash if you can afford it to like 100 MH then you should get 1 DASH per month then you can upgrade with DASH from then with its current value, i am on 323 MH and i get like 3.4 DASH per month. I upgrade every couple a week with money but soon the DASH pay outs will cover it! hope this helps
It does help. I will consider upgrading. I am mining dash but the payouts show as BTC. Is that correct or is that just three value of the dash?
Yes no problem, Use my code and ill be sure to use your when i upgrade soon!
DASH mining contract @ www.genesis-mining.com/a/514260
AqQblF = 3% discount coupon code. I recommend weekly contract upgrades.
I would definitely be upgrading Dash my aim is 1000M/H
There is a little tab on G.M upgrade link, there is four of them, click on the bottom one for X11 and this will pay out in Dash, if you want to configure your BTC then change it to DASH on the mining allocation, i ave just changed my 6.4T/H BTC to mining DASH so tomorrows payment will be more,
Cool, I will definitely upgrade and use your code. If you use mine in return that would be fab its BAHNLQ
Yes no problem, whats the first THREE of your email so i know its you dude!
You probably mean 5 GH/s? 5 TH/s should be way more expensive, I guess about 9.75 BTC. Yeah, if GM doesn't change their payout model, I am inclined to call it scam.
The payer takes the risk and still probably won't receive a return on his investment. That's not how an investment usually works.
Lol, apologies!! Yeah 5Gh!! I will hang on for the moment and see what happens a bit further down the line
So you are saying the only way you will make profit is if BTC goes up?