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You want to generate steady income for the next 2 years with a Genesis cloud mining contract? Get your head out of the clouds! I am here to tell you that this isn't exactly the most profitable investment, and I speak from experience. When I signed up for a Genesis cloud mining contract, I did some quick math and with a mining profitability calculator decided that it would take about 4 months to break even. At the time difficulty was roughly T. In the past 2 months, difficulty has more than doubled at over T.
This current doubling of difficulty and drop in price puts Ethereum mining out of profitability range within a couple of months, maybe even less. Ethereum is going to be switching over to Proof of Stake in the near future as well, therefore mining will be obsolete. You may be thinking about a Bitcoin contract because it is open ended, but robot cloud mining bitcoin profit calculator fine print states robot cloud mining bitcoin profit calculator it will mine as long as it is profitable.
Robot cloud mining bitcoin profit calculator difficulty is increasing at a slightly slower rate, but the probability of profit still remains ridiculously low. Dash difficulty seems to be increasing the slowest, but x11 currently is one of the least profitable algorithms to mine. At first the payouts were decent, coming in at about 0. My most recent payout came in at 0. So in a total of roughly 54 days, my mining contract has generated 0. Lets give a generous estimate of about.
Things were looking bright, and if there was a continuation of the bullish market, these contracts may have been profitable. Therefore, I am getting double the hash rate for around the same price, and with the difficulty levels increasing at the current rate, and current prices, may still not break completely even. But, at least I come out of the deal with two bitchin' GPU's that can be used to mine other altcoins with lower difficulty levels, or for video games if nothing else.
There is no way you are going to find any video cards that are perfect for mining right now unless you are willing to shell out over 2x fair retail price for them. If you are contemplating purchasing a cloud mining contract, I wouldn't recommend it at this moment in time!.
Difficulty and time are against you, so think about other ways to invest your money. Just purchase some coin outright since the price is low. I am no financial advisor, but I robot cloud mining bitcoin profit calculator also recommend easing into a position and watch for support and resistance levels to serve as entry points. But I seriously wouldn't recommend it!
Interviews with various witnesses Interview with dragosroua Interview with timcliff Interview with someguy Interview with neoxian Interviews with aggroed, theprophet0, and ausbitbank. How to stop robots from killing us. Musings of the sentient rapture. Just read another one of your articles and like you I jumped into robot cloud mining bitcoin profit calculator without doing much research and my results have been about the same I'm still quite new to cripto and actually only stumbled ont steemit yesterday so Robot cloud mining bitcoin profit calculator am still hopeful but I have learned I need to do more research but thank you for the article I'm going to give you a follow.
This post has been upvoted from the communal account, minnowsupportby necrophagist from the Minnow Support Project. It's a witness project robot cloud mining bitcoin profit calculator by aggroed, ausbitbank, teamsteem, theprophet0, and someguy The goal is to help Steemit grow by supporting Minnows and creating a social network.
It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there. If you like what we're doing please upvote this comment so we can continue to build the community account that's supporting all members. Now, 6 weeks on, the daily payout is 0. Also it is worth noting, that Genesis have been holding on to payouts since 23rd Jul, due to "an intrusion" here.
They put a notice up 3 days ago saying payouts had resumed, but my account shows nothing since 23rd July. They could do a lot better on the communications, even an email to robot cloud mining bitcoin profit calculator customers would have been the minimum that could be expected when their customers money stops showing up. I would not invest in an ETH contract at this point, the market will need to change a lot to make new 2 year contracts attractive.
I've been thinking about removing the genesis mining affiliate links on one of my sites, this post just confirms that I should.
I think there's one problem with the mining contracts and the profitability calculators, they don't factor in the real increase in difficulty do they? Since then, profitability has gone 4 times lower robot cloud mining bitcoin profit calculator when I started. But it sure sucks with this sudden difficulty rise: Not to mention the hack. If I had known the truth robot cloud mining bitcoin profit calculator the speed at which rewards diminish I would have never signed up. I feel betrayed by all the steemit users who just spam their affiliate codes and make videos about how wonderful Genesis is.
Never trust another's opinion! I appreciate your insight! I have always wanted to take the plunge and pick up a few 's to embark on my own ether crytpo mining journey. I am currently involved with hashflare SHA lifelong mining and it has been pretty good to me over the past year. Any advice on getting started or you think purchasing coin at this point is most reasonable option? This whole thread is a monument robot cloud mining bitcoin profit calculator the folly of buying mining contracts instead of just buying the coin directly.
Honestly, GPU's are way too expensive to purchase anymore and even if you find a used one at the same price as a new card should be, the time frame is closed on breaking even, let alone making a profit. Just buy the coins on dips. The problem with Ethereum is that the price was going down while the difficulty was going up. Usually with Bitcoins and some other altcoins, the difficulty graph is similar to the price graph so IMO mine Bitcoins is going to be most of the time profitable, even if the difficulty grows a lot.
I will share some analysis regarding this. Meanwhile, take a look at this post: I learned this lesson the hard way back in when the Bitcoin manufacturers talked a great game about Gen. They proceeded to then robot cloud mining bitcoin profit calculator delivered 'em all too late to their customers to do any good.
Mining is profitable for a very short period of time when the equipment is cheap and the price is just right. I am still profiting on my mining rig, but the time decay is creeping in quickly. I have a small bitcoin mining contract there, just enough to try it out. Haven't really decided robot cloud mining bitcoin profit calculator I want more or not. Learn more about the resteembot project in the introduction post. This post received a 4.
For more information, click here! Click here to read more! Thinking of cloud mining with Genesis? Interviews with various witnesses Interview with dragosroua Interview with timcliff Interview with someguy Interview with neoxian Interviews with aggroed, theprophet0, and ausbitbank How to stop robots from killing us. Authors get paid when people like you upvote their post.
I agree, they should have been more transparent about the hack and their intended resolution. It's all butterflies and rainbows when you are selling something isn't it? Why should they tell the truth when painting a pretty picture makes them a pretty penny? That's a great way to put it. Luckily, since the site is new I haven't sent any referrals. So that's good news. Got here from Peace,Abundance and Liberty. I went ahead and read your post. I'm going to write soon one similar but projecting the growth of the Bitcoin.
Appreciate the brutal honesty. My advice to anyone thinking of a mining contract: And what happens when difficulty goes up?
Yeah you guessed it: Thank you for the warning, I was so close to invest on Genesis Mining but thankfully I did not. Very wise decision my friend.
This post was resteemed by resteembot! Thanks for the analysis. It's really not that profitable for the customers.
