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RE: VLOG 207: WHAT CAN I TEACH YOU NOW?
I would be really interested in a video where you do a trade. How you take profits etc. How do you store your profit? You buy btc, get into a new coin or even fiat?
glad you're back home!!
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It's not even profitable to mine bitcoin anymore....Ether is pushing it. Maybe monero and coins that haven't gone up so much it's still worth it, but not with Genesis mining. If you really want to mine with Genesis, don't...but the coin at its value instead...you'll be much happier than if you mined...much happier. I mined with genesis for years...it's so much of a joke I can't believe it's being pushed. I have about 5 friends that mined when I was mining, and we were all tempted to create a lawsuit against Genesis..they don't scam you, they do pay you...but they pay you nothing. 95% of people investing with Genesis don't have the necessary knowledge to make an informed decision whether it'll be profitable to mine with them..it won't...100% it won't. They take advantage of peoples lack of education in the crypto world and make a ton of money themselves because of it.
This is an interesting concept... Everyone who trades realizes they'd rather just buy $2500 of ether or bitcoin vs. mining it and waiting 6 months before making even a penny... I personally put $2500 into Genesis mining bitcoin and currently received 1.15 bitcoin in about 4-5 months... had i just bought that garuntee id have more money now... However if the growth continues to mine in the next year or more, than i should have more coins from mining than my initial purchase could have ever bought. Mining is a safe investment just very very slow in the profit, but has potential LONGterm to be more profitable if these coins ever boom and in crazy chance the payouts continue? IDK you probably have much more experience than i, however Longterm there still seems to have potential... maybe I'm just an ignorant hopeful:)
Are you profitable even considering rising mining difficulty, any maintenance fees, and length of contract? I've always wondered how the cloud mining guys work... why wouldn't they just mine for themselves? Because it's more profitable to rent mining hardware and charge fees? Maybe Genesis Mining is different as I'm not familiar with them (haven't looked into that stuff in a long, long time).