Genesis mining update after 6 months
Cloud mining was the only realistic way for me to get into mining without a large upfront investment into hardware. The problem is trusting that they dont get hacked, go out of business or will produce what they say.
may 26th 2017 i bought 1 mh/s eth
then july 5th 2017 I added 4 mh/s eth
so 5 mh/s eth total for $150.49 invested for 2 year contracts
I have had 3 transactions at .05+ to date but now have to wait to .075
since my last transaction i have .058+ pending
i average .000773914266 eth a day
which if i got to www.cryptocompare.com and enter in my hashrate into mining calculator it suggest .0004874
so genesis is providing a higher than expected payout......
on my genesis earning chart it says $175 earned so far and is close to my calculation of $170 with current eth price
either way i broke even when eth went up so much and will be profiting going forward
If on july 5th i bought eth at about $285 so .52 of an eth
it would be worth $582.46
It is very easy to only look at straight profit only and buying outright is better..
i am getting future payouts but at 5m/s I will not mine more than .6 of an eth during the two year contract
I am happy with what genesis paid so far and the results have been what they promised
but for me i think I will just buy the dips
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