Genesis Mining Profitability (February 2018)

4 stars based on 49 reviews

This is my review after upgrading my BTC mining to This post is based on my experience and results thus far with Genesis Mining. This post is not meant to be investment advice. Your results may vary based on the many factors associated with crypto-currency mining contracts see the Pitfalls of Cryptocurrency Mining Contracts below. Bitcoin mining will continue until the number of Bitcoins reaches 21 million. It is estimated that the last Bitcoin will be mined in the year The Bitcoin mining contract offered by Genesis Genesis mining review and update day 23 of bitcoin payouts genesis mining calculator 2017 is an open-ended contract.

According to Genesis Mining the Bitcoin mining will continue as long as it is profitable. I do not expect the Bitcoin mining to be profitable up to the year Bitcoin halving events occur everyblocks, roughly every four years. I was Bitcoin mining during the last Bitcoin halving. Yes, my payout did get cut in half. This is just another factor which may make a mining contract unprofitable.

This has caused Genesis Mining to change its payout schedule. Snapshot from Genesis Mining. And you must remember that proceeds from mining contracts must meet the minimum payout before a payout is distributed. I have been mining with Genesis Mining since June Mining with Genesis has given me a passive income stream. And that is my goal to have a passive income stream that is profitable.

I initially started Bitcoin mining at Genesis Mining with 0. After about 6 months at this rate to assess the viability and reliability genesis mining review and update day 23 of bitcoin payouts genesis mining calculator 2017 Genesis MiningI decided to upgrade my hash rate. Their upgrade purchase gave me another 0.

Since then I have done many more upgrades. Created Using MS Excel The following graph is from the Genesis Mining payouts section showing the last payout on 10 August I have broken even on my Open Ended Bitcoin mining contract. Based on my experience with cryptocurrency mining contracts here is what I have learned from the school of hard-knocks:.

I buy my Bitcoin, Ethereum, and Litecoin through Coinbase. For me, buying them through Coinbase is fast and convenient. Bitcoin Block Reward Genesis mining review and update day 23 of bitcoin payouts genesis mining calculator 2017 Countdown. If you like this post, you can upvote, follow, share, and re-steem this post. Hey Mike, I am trying to figure out if my daily payout is correct - we both have hashpower in about the same ballpark.

I just increased mine. Your payout is actually lower than I calc it should be. That's a pretty big difference, is it all due to fees and electricity?

But there must be a sliding scale of overhead that pairs to the TH level. I'd like to find a calculator just for Genesis that is completely honest - wouldn't you? Ok, it turns out I have an answer to my own question. I didn't think the GM maintenance fee could add up to this much, but it accounts for what seems to be 'missing'. According to GM site, [the maintenance fee is deducted from your daily mining output each day and is 0. These are the current fees for these contracts and was updated January 24 So, if I multiply 0.

So that is a significant chunk. It seems that all the people sharing their affiliate codes and their big win info, don't tend to share this reality, as it takes away from the luster of buying mining contracts that they would get commission on. However, my fee calc still leaves some money missing.

I wonder if electric bill is still charged on top of this fee. So that means And then the capital gains and income tax on top of it. Am I miscalculating or overlooking something? Escape do Barulho e contas de Eletricidade dispendiosa I love genesis mining! Have been a customer for about a year and still getting paid daily. Cannot wait for the eth and zec contracts to drop in march. Good article but I think right now is more profitable to just buy BTC.

I doubt you see those returns with mining. Maybe with LTC but that contract is sold out. I completely hear you on that logic. At times it is better to buy BTC outright rather than mining it via buying a mining contract. Yupp, keep reading lots of great genesis mining review and update day 23 of bitcoin payouts genesis mining calculator 2017 about it.

We are witnessing the beginning of mass adoption just like intent itself: That will take the adoption just to the next level.

But by the end of next year will start the mass adoption. I think it will be a tad longer before the masses start buy tokens. Very true, I have a hard time explaining to family that you can but 0. They have a hard time understanding the concept. But in sure they get used to it when we go mainstream. Also LTC is a better fit for many thanks to price stability and cheaper price. Not as profitable but it's a good starting point for new comers.

And I will use your code for next upgrade. Hi please use my code too! I'm upgrading every week. I have added your promo code to my rotation list. It may be awhile until I get to your code. If you let me know when you upgrade with information about what contract you bought and how much hash power you got. I will move you up on the list.

Hi i used your code. Please use mine genesis mining review and update day 23 of bitcoin payouts genesis mining calculator 2017 I will have you in my rotation list. I will use your promo code this month for an upgrade of BTC.

I currently have 28 people in my rotation list. There is just one person ahead of you before I use your code. The pre-sales of the contract are gone I no longer see BTC contracts offered. I know the pre-sale contracts do not kick in until 31 October If the current contracts do not kick in until 31 October, then and I hope not the BTC contracts will not be offered again until November.

It is frustrating to me too that I cannot upgrade my BTC contracts. Please be patient, as I am having to be patient waiting for the BTC contracts to be offered again. Try to be more patient. And wow how did you get 28 people on your list? You have your own youTube show? I do not have any Zcash contracts. Is Zcash mining worthwhile? I am inclined to just wait for additional BTC contract offerings. Right now I have an Ether mining contract that is paying out every 5 days. I just do think it is worth putting any more money into Ether mining.

I am patiently awaiting for additional BTC mining contracts to be available too. I do like that they gave us a chance to buy into a pre-sale of the BTC mining contracts, but those must have been very limited.

The comeback of the BTC pre-sale caught me short on crypto. If it happened next Friday, I would have more available to upgrade. Next time I'll use your promo code once again.

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This is my review after upgrading my BTC mining to This post is based on my experience and results thus far with Genesis Mining. This post is not meant to be investment advice. Your results may vary based on the many factors associated with cryptocurrency mining contracts. This post is an update to my " Genesis Mining Review: My 7 Months of Mining " post made 7 days ago.

Bitcoin mining will continue until the number of Bitcoins reaches 21 million. It is estimated that the last Bitcoin will be mined in the year The Bitcoin mining contract offered by Genesis Mining is a lifetime contract.

Bitcoin halving events occur every , blocks, roughly every four years. I was Bitcoin mining during the last Bitcoin halving. Yes, my payout did get cut in half but it recovered when the price of Bitcoin rose. I have been mining with Genesis Mining since June Mining with Genesis has given me a consistent daily income stream. And that is my goal to have a consistent income stream. I initially started Bitcoin mining at Genesis Mining with 0.

After about 7 months at this rate to assess the viability and reliability of Genesis Mining , I decided to upgrade my hash rate. Their upgrade purchase gave me another 0. The following chart shows my last six payouts. Created Using MS Excel. The past six BTC payouts since upgrading to I will continue to watch the payout consistency.

Of course the next halving event will reduce the BTC payout. Based on these statistics I estimate I will recover my initial investment in days or 20 April which is well before the next halving event. The following chart to examines the long term potential payouts. I used the following assumptions:. As you can see if the price of BTC doubles every four years the payout in USD per day is a repeating pattern that resets after each halving event.

I will keep you posted on my progress. If you are interested in learn more about Genesis Mining then click here to visit their website. I buy my Bitcoins through Coinbase. For me, buying Bitcoins through Coinbase is fast and convenient. Bitcoin Block Reward Halving Countdown. If you like this post, you can upvote, follow, share, and re-steem this post.

AFcBhU Let me know about it and i will use yours in return: I have added your code to my list. I just bought a 2 year Ethereum contract with your code Paid in Dash 0. Have a great day and remember you are also on my rotation list.

I will upgrade soon I am currently upgrading my X11 contract. Look for another upgrade using your code in about a week. I am now upgrading X11 everyday for as long as it is available.

You should get a confirmation soon. I have to wait? Only Ether and Monero can be mined. From time-to-time Genesis Mining sells out their capacity in a mining contract. Normally it takes them weeks to build out the infrastructure that allows them to sell more hash capacity. Only one i trust besides Genesis. Looking forward for you to return the favour, thanks ;. I just did the same with your code for a ETH upgrade: Can you give everyone an update on your performance with Genesis Cloud Mining.

I would like to hear how your doing now that 6 months has past since you initially wrote the article. Is it still profitable? Here is my last update: Genesis Mining Review 7: There was a week where Genesis Mining postponed payments due to an intrusion by a hacker. Payouts have resumed and from what I am seeing, the Genesis Mining payouts are catching up.

Just based on my payouts, I can imagine Genesis Mining daily payouts are in the millions of dollars. If I were paying out that much, I would want to do a careful audit too before distributing the payouts. They ran out of X11 hash power to sell, but it should be available again in the near future. 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.