Genesis Mining Offering Ethereum Cloud Mining Again

4 stars based on 67 reviews

Do you know what's going to happen to your cloud mining contracts when BIP happens and when Ethereum hits proof of stake? Some of you may have done your own research as well to find out if your cloud miner supports BIP or not.

What exactly happens to your contract even if your miners support BIP There's often legalese that people genesis mining ethereum contract after pos ethereum contract upgrade with your codes read.

Just because Genesis Mining as an example says they support BIPbut your contract doesn't state anything about that, will your contract get cancelled and you get robbed of the remainder of your contract?

Also for ETH proof of stake, Genesis does say that they will move it over to the next most profitable miner but it's always good to confirm these things, so I reached out and got the below response. So there it is. Customer service is good and if you're like me and have reached out more than once, you've probably spoken to Ellie at one point. Very nice and helpful. Basically you pay an upfront investment cost to the mining company so they get capital upfront and you get daily payouts in the crypto of your choice that you mine.

Genesis does 2 year contracts but you normally make your money back in 1 year and sometimes faster if the value of the crypto continues to rise. Obviously if it falls depending on how muchyou can lose money and if it's no longer profitable, they may even cancel your contract and you lose out on the upfront investment.

Any contract upgrade is fine, I am investing in ETH myself but appreciate the return love of any Hashpower! I followed you too: Thank you for the love aaagentI saw genesis mining ethereum contract after pos ethereum contract upgrade with your codes this morning! I got your code on rotate also with my upgrades and appreciate the big buy! I got you on Monday! Authors get paid when people like you upvote their post. So do you mine for Ethereum blocks or any other digital currency?

I'm fascinated by the process. Next time you upgrade your hashpower use my code! Appreciate you using my code!

Just used your code.

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I was pretty upset and mad when someone marked my "Day 1" post as spam, even though it was an opinion post, so I wasn't really going to post more on the subject, but seeing how a lot of people had an interest in it, I wanted to get back on it and share day 2 with genesis mining; here are my earnings so far:.

I'm still waiting on day 3 earnings, will report them as soon as I get them. Another interesting thing I found out is about allocating hashing power to other coins whilst mining ETH. Leave a message in the comments section below if you use it, I'll use yours too when I upgrade my hashing power. I reached out to genesis mining to see what they would do with current contracts when this happens, and they said: To be honest, I feel like holding back on upgrading my Ethereum contract, I may buy BitCoin contract but it has the annoying daily maintenance fee which they deduct from your bitcoin earnings and they're all out of Zcash, LTC and Dash mining.

Hope they bring those back soon, because I don't feel like investing into Monero. Anytime you write about genesis mining you seem to get flagged, I ran a competition on here once just because I was upgrading and was gonna use someone's code so I decided to make it a competition, I got flagged for it.

Stupid I know, yet some higher profile people can video blog about it everyday and even put there referal links in their posts and they get no flags! That's why I went on a rant https: Some people just hear genesis mining and scream "spam" immediately. It was this reason why I wanted to invest my own money and see for myself how it works and if it's profitable.

So far, it's working as expected, but lets see. And I hope this post doesn't get flagged, because a lot of people found the first one useful. Same I heard some people say it's stupid and pointless but I wanted to see for myself just like you and so far I'm still on the fence as to whether it will be profitable or not but that's my choice and should be other people's we all have brains to figure stuff out for ourselves.

But yeah a lot of people seem to get away with posting their referal links and posting about cloud mining all they want but they do have much bigger accounts then ours and are more popular so obviously they are more of a benefit to steemit then us. Oh and when I next upgrade ill use your code, I upgrade sha contract. Shame I didn't see your post from yesterday I only just upgraded. It will probably be a week or two, I'll follow you so I don't forget about it.

I've put you on my rotating upgrade list of which there as so far 2 people and your the first haha here's my code for when your next upgrading iRI47z. I'm making a list, and will use these codes as I upgrade. I am holding back on upgrades right now though, because Ethereum is going to switch to PoS and BitCoin might hard fork after the segwit upgrade. I don't know how it would affect genesis mining contracts. I have a 20mhz dash contract and 5mhz ether contract, my experience with dash is I wouldn't bother, I don't think they offer it anymore anyway, ether I bought because open bitcoin wasn't available at the time, I now have 1.

Oh I also have a tiny bit of monero that I got from someone using my affiliate code. But yeah bitcoin is the only one ill be upgrading. I can't think of the figure off my head but it's big enough, but I plan on reinvesting for at least a year and really build up my hashing power then ill start taking profit, it will take a long time as payouts are only small at the moment but Rome wasn't built in a day.

And what's good with the bitcoin is its open ended no 2 year contract so as long as they are mining you will be too. And you just pay one-off right? The remainder is covered in their daily fee? Plus aren't you worried about the possibility that bitcoin may split into two coins when segwit upgrade happens? You have completed some achievement on Steemit and have been rewarded with new badge s:. Award for the number of comments. Click on any badge to view your own Board of Honnor on SteemitBoard.

For more information about SteemitBoard, click here. If you no longer want to receive notifications, reply to this comment with the word STOP. By upvoting this notification, you can help all Steemit users. I was pretty upset and mad when someone marked my "Day 1" post as spam, even though it was an opinion post, so I wasn't really going to post more on the subject, but seeing how a lot of people had an interest in it, I wanted to get back on it and share day 2 with genesis mining; here are my earnings so far: Authors get paid when people like you upvote their post.

What mining contract did you upgrade? And what all do you mine on genesis? How much do they deduct as "maintenance fee" off of your bitcoin mining every day? Show 1 more reply. You have completed some achievement on Steemit and have been rewarded with new badge s: Award for the number of comments Click on any badge to view your own Board of Honnor on SteemitBoard.

For more information about SteemitBoard, click here If you no longer want to receive notifications, reply to this comment with the word STOP By upvoting this notification, you can help all Steemit users.