Is Cloud-Mining worth it? Profitability Calculations for Bitcoin, Ethereum, and Dash Mining.
Hello all. As promised in yesterday's video...here are the profitability calculations for Genesis-Mining. Keep in mind that Bitcoin is a lifetime contract as long as profitable..so in the long run it could be more beneficial depending on your mining power.
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Thanks for watching! Feel free to comment or ask questions below.
check this before you invest @brandocrypto https://steemit.com/crypto/@crypto-p/dash-dsh-mining-difficulty-has-increased-by-300-in-1-june-2017
While I use and support Genesis-Mining, I'll never debate the fact that difficulty increases can hinder and most likely will negatively effect ROI. Especially if the value of the coin stays the same during difficulty increases.
But I must point out that while this is an informative post with a valuable message, the End May 100 and End June 270k difficulty comparison is inaccurate. These number would be more accurate mentioning that it was 100k in the BEGINNING of May..not the end, which was 228k. Right now as I post this it is 240k. Meaning from the End of May - End of June it has hardly changed.
In conclusion, I agree that it can have some risks. And definitely can agree that it has affected your investment over the past 2-3 months. This is why in all my videos promoting Genesis, I recommended doing research and mention that the calculations vary according to price and difficulty.
What do you guys think is the best cryptocurrency to mine?
As for Genesis, Ether seems to be the best at the moment. Dash is good too.
If I were mining with a rig, or a pc, there are too many options. I'd choose Litecoin if I were mining at home.
Not profitable, don't buy...
Not an ounce of evidence in this guy's comment, don't trust...
I have invested 20000$ in GM... The difficulty has been rising exponentially... Now x11 contracts are even less profitable... I doubt you will even get your money back... GM is not a scam, but the difficulty is rising too quickly...
If you invested $20000USD this means you have about 4000MH of X11 (DASH). You will break even in 166 days.
You will profit $43,958.34. Year-to-date you will have a net profit of $23,958.34.
These are all projections, of course. It is expected that Dash will rise in value, so even including the increasing difficulty, the profit should maintain or even rise about these numbers. Check back to this post next month and update your results. So far I have 10K USD invested in GM most of which is in ETH, and I'm pleased with the results at the moment.
I have already got the exact calculation with my actual rewards and I can tell that the price has increased by 100%, but the difficulty has trippled.. Do your math, if you like, or invest in to GM, I don't mind that. I just warn other people. If you are getting your referrals - no problem - you will get rich, but they won't..... They will just be feeding you...
There will always be mixed opinions. Personally I wouldn't invest all my capital into cloud-mining. But I'll continue to invest part of it.
Cloud mining is very profitable. Mixed opinions are for the scared traders, investors, or speculators.
Champagne crypto says the market is booming. I trust him.
Keep up the good posts brandocrypto.