Ths bitcoin miner
I have an Ether Mining contract s with Genesis, but do not think I will break even. This is why I do not recommend those contracts. I do not think that will happen. At my current rate of return, I will break even on those mining contracts well before the next BTC halving event.
Part of it has to do with the difficulty level. The difficulty level is a factor in determine how hard difficult it will be to come up with the next block in the block chain.
That is my extremely basic understanding. Here is a website where you can see the "difficulty level" for different crypto-coins: Thanks for the update. I still feel there is much opportunity to lose money if conditions are not favorable all the time. Do you know what the time decay looks like on a 2 year contract. For example, how much do daily payments drop on the last month of the 2 year contract vs the first month on the contract? I'm still trying to understand why cloud mining is not a gamble and a good way to lose money in uncertain market conditions.
Any additional insights by the Steem community would be very helpful for me to better understand how cloud mining works. I have added your promo code to my rotation list. My rotation list is getting rather long, it may be a bit of time before I get to your code. You should be getting a confirmation soon.
I purchased it with BTC so it may take a bit of time to clear. Looking forward to keep upgrading with you! Look for another upgrade by myself using your code in about a week. A bit late in posting this They will make current tech obsolete. Hey joshwaa i just used your code for a upgrade, mine is: AFcBhU Happy to keep exchanging and sharing codes: So if you use my code: Just let me know. Genesis could be bogged down with orders. As of this time, I have not gotten an confirmation yet.
Hopefully, they are just backlogged. I just started mining today, you are third in line on my list. I will be using your code pretty soon. You can use HashFlare to get a mining contract. Their mining contracts are by the way the cheapest around ; Heres the link: Please use my code XouixF as well. I have added your code to my rotation list. I only upgrade my BTC mining contract. I am still debating whether to purchase more upgrades at this time or wait. My rotation list has 29 codes in it. It may be some time before I get to your code.
It all depends on the availability of BTC contracts from Genesis. Next weekend, I expect that to change. I hope the BTC pre-sale contracts are still available then. Hi, I put your code on my referrals list, I will get to it soon. Please use my code when you can: Their so called lifetime BTC contract is sketchy. I've made a detailed analysis in this post if you're interested.
Most people new to mining fail to take into account the increase in diff. I too made the mistake of pumping money into 9ths. I just used your code for my 15 mh dash upgrade on genesis mining , here is my affiliate code if you will upgrade feel free to use it: Hi Mike, I used your code for an upgrade of my Btc Hash power. This is my code for you: If the BTC prices holds I will be upgrading soon.
I will use your code back again soon. My portfolio needs to recover a little before Hope it will not be too long ;-. I have added your code to my rotation cycle. I was thinking of making upgrading this weekend, but BTC did not go up like I was hoping.
I am still accumulating BTC for a future upgrade cycle. My next hash power upgrades will be in July and you will certainly be benefiting. Nice article Mike, it will be interesting to see how long the genesis contract survives with the rising difficulty. Should be fine for a while due to current BTC rates, but the returns will dwindle in the coming months.
I do expect the returns to dwindle in terms of number of coins mined over time as the difficulty rises. The biggest hurdle to BTC mining is the next halving in June I think the return on investment will be fine as long as BTC contracts are bought at least two years before June I love mining ,been mining on Genesis and bitclub for a year now, so powerful platforms.
Thanx for the post ,i noticed we have lots of crypto traders on steem than minners. Bitclub is a powerful platform to create passive income. Join Our Team here http: I just joined the Steem community and mining has been on my mind for a while.
Your article has pushed me to signup and try it for myself. Will be using your referral code. The rising BTC difficulty is something to consider. I've been dabbling in the ETH contract instead. Like mike has mentioned, it lets you automine the most profitable altcoin and convert it into BTC.
You may be better off going with that instead. Start of with 5mhs of so and see for yourself. Will give it a shot. The difficulty has been going us and it is very obvious in the daily payout that has been dropping for the past 2 months now. Might make a separate post once I have enough data.
Hey Mohtab, let me know what your referral code is and I'll use it. Please use my code when you are able: I just saw this. Haven't logged in since I first created the account. Will keep your code for my next upgrade. Happy to say that 2 months after using Genisis I am a happy customer so far.
My code is c7ybMp. Thanks for the info. I have recently started to us Genesis Mining for Ethereum and have had no issue with them. They have proven reliable and trustworthy. I did a fair bit of research before hand and they seemed like the only credible cloud mining company. I'd be interested to hear if anyone has positive experience with any other cloud mining providers.
That is why I too was very cautious about Genesis Mining. I am definitely benefiting from my early investments into Genesis Mining. I do hope the BTC open-ended contracts become available again soon. I made a comparison of the best hashing-power versus price comparison in genesis ethereum mining contract. Guys, i have got 1. You didn't account for the overhead costs like electricity and maintenance.
I do not think that is realistic. At this rate I will recover my initial investment in days That is were you find your "affiliate code" or promo code. That is why people share their codes. No idea, is this a BTC contract? I have 10 TH and get daily 0. I think i found out the reason, i had made 3 upgrades from 0. Apparently they will with hold payouts for 30 days if you use credit cards, and will release at the end of 30 days! Feel free to use my referral link here https: I don't believe it gives you any discounts tho: I have one question regarding Genesis-Mining and their Ethereum farm.
What will happen when Ethereum goes PoS? I hope they have a backup plan because they advertise that they have the largest Ethereum mining farm in the world. It make me a bit skeptical on what they are going to do and how it will affect their overall operations.
I too invest in Genesis! Thanks for the information in the post, it's always good to get someone else's perspective! Also reading through your comments I love that you have rotation list! I just started mine. Here is my last BTC review I posted: If you would like to give me your promo code at Genesis Mining, I will add you to my rotation list.
I am currently done upgrading this month. With the fall in crypto prices, I will be accumulating the rest of this month. Hey I saw this post and I made a new account. Here's the code I have: I also wrote down all the codes in this post for future upgrades. I will let you know in a comment when I use it.
Thank you for that insightful post. I'm also mining at genesis, but I see steadily decreasing my payouts due to rising difficulty. I've calculated that I won't reach break-even in terms of invested BTC if payouts continue to decrease like this. What have been your experiences so far? Did you net the amount of BTC that you have invested?
I feel like you have to upgrade constantly and rely on promo-codes , otherwise you won't be able to gain profit. Heres my code "LxaDFN" https: Hi, I am planning on several upgrades over the next month or 2. Before people started giving me their promo codes to add to my rotation list, I would have happily taken you up on your offer.
Thank you for the offer, but I promised to use the codes in my rotation list. I try to keep my promises. Please give my your code so that I can add it to my rotation list. I hope you will return the favor and there will be more upgrades to come. My referral code is yvhpVw. I have verified that your promo code is in my rotation list to earn FREE hash power when I start my upgrades again in August.
I am going to invest more soon. Let us support each other. If all goes well, it looks like I will used your promo code in about a week. I will start investing again when the problems they are recently facing are solved.
I am going to upgrade today using your code. Here is mine to use next time: I have added your promo code to my upgrade rotation list.
While the cryptocurrencies are down from their highs, I have considerably slowed down my upgrade cycle. When the cryptocurrencies recover to new highs, I will speed up my upgrade cycle. Genesis Mining is a tax write off Dash just opened but I wont even think about playing that game.. But good article and it seems everyone but me is winning with the GM Must be with the codes only..
One of the first contracts I bought on GM was a 1-year yes, one year Ether mining contract. I put a little money several hundred dollars into GM and after losing everything in HashOcean.
I let the money ride in GM for about six months to assess the viability of GM and the payouts. I have not bought any Monero contracts from GM. The Monero contracts I have are from people using my promo code to buy Monero contracts. I direct the money to Litecoin, because I think it has more potential than Monero in the near-term I could be wrong. This made a huge difference in the payouts. The testing I did with the GM contracts showed me that the X11 contracts were paying out well.
Before my latest round of upgrades of X11, I had a profit with about a year left on the contracts. This is why I have been upgrading my X11 contracts. Recently a fellow steemian made me aware of CoinWarz https: I hope you have better returns in the your future endeavors!
Have a great week! I only have the Monero mining contract as a referral reward, I did not personally buy it. During my latest round of upgrades I have been purchasing Bitcoin and X11 mining contracts. You can go to CoinWarz https: You have been chosen to appear on " Who to Follow Daily ". Thank you for adding such value to the Steemit community. I have only received one payout transaction.
The others are flagged with "Amount of xxx is added to your coin balance. But there is no amount in my account. Do you have the same issue sometimes? Yes, I have the same issue with mining contracts with low payout. Click on the "i" next to the net payout.
If the amount is lower than their minimum payout, then it accumulates until it is greater than the minimum. Please be patient, it may be a month of so until I get to using your promo code in my rotation list. Today i bought 1. I have added you to my rotation list.
The price of Bitcoin and most of the alt coins are headed back up. The miner is already in the USA. Specification of V9 - Power Consumption: DC current input 12V DC. Tested and fully functional! The unit has been tested see last image. Has not been overclocked standard frequency MHz. Must be downloaded and installed from a site of the buyers choosing. Item is sold as is No Returns.
Canaan Avalon 6 Bitcoin 3. Will ship day after payment or sooner. Does not include power supply. So currently is 5 months. Rated Power V input: This is version 2 of the miner! Sled, usb cables, and fan splitter included as pictured. Canaan Avalon Bitcoin 7. Works great and mines at 7. Will ship in the original box. Auction is for Avalon miner only.
It includes a built-in fan to make sure the miner runs cool. Used Bitmain Antminer S9 Ships out the next day after purchase.