Hi guys,
I'm mining on Genesis mining for more then a month now . I 've seen a lot of Youtube/Steem articles about Genesis Mining. A lot of people have started mining and dificulty increases and daily earnings are dropping hard!!
I want to give you a honest weekly update. I have invested $9000, so I can give you a clear view of the profitability.
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Let's start with Bitcoin:
Invested $2500 and the daily payout is $12. ROI : 208 days.....but difficulty increases 8% per month.
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Dash:
Invested $360. Daily payout $ 1. ROI : 360 days.....if difficulty stays the same(not gonna happen)
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Ether:
Invested $5000. Daily payout $ 13. ROI : 384 days.
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Monero:
Invested $1300. Daily payout: $3 . ROI : 433 days!!!!!!!
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To sum up:
Do not GPU mine!!! Only Bitcoin mining is profitable.
Thanks
Don't do genesis or any other bitcoin cloud mining.
https://steemit.com/genesis/@cardboard/genesis-mining-36-return-of-investment-yep-that-s-a-negative
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agreed
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The real problem at the moment is that many alt-coins and bitcoin have had their prices dive which meaning payouts from mining are not worth as much as they used to be. There is still a pretty good chance that it will become more profitable providing prices recover
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cheers for that - glad I am not the only one.
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