Genesis mining has been around a lot of speculation
Back in 2016 I was viewing their contracts for the first time, couldn't really get into that idea or math that how in earth that would be profitable to them, but apparently lots of people have made serious bucks from their mining contracts.
Basically I took a leap of faith when I bought 25 MH ether contract from em, will see what will come out of this thing but one can only wish that they fill their end and I get that full 2 year mining profits that were promised.
Over 500k contracts there or people, If I'm gonna lose my monies at least I have some fellow users that can relate to my sadness, in the end it's just money that we lose.
If you feel like telling me experiences with genesis mining, please be free to do so.
Cloud mining is a philosophy itself.. so many are completely against it and a lot other people hype it to the moon.
I do have bitcoin and ethereum mining contract and i am really glad that i only purchased a small amount of.
You can pretty much calculate your profits at coinwarz.com.
I did it for your 25MH contract and if the link works correctly you can see it by yourself otherwise simply do the calculator again.
https://www.coinwarz.com/calculators/ethereum-mining-calculator/?h=25.00&p=0&pc=0&pf=0.00&d=2196453381374660&r=5.00000000&er=0.07659100&btcer=4453.24310000&hc=750
You will break even after 447 days! That is a lot if you take a look at bitcoin which is arround 180 days or something like that.
The next thing you need to look out for is the rising mining difficulty.
When i bought my 10MH contract at the end of July my break even was something like 280 days.. so the increasing difficulty is insane right now.
With the Metropolis update in late September it will further increase a lot, so i am afraid but i don´t think you´ll even break even.
I wish you the best luck as i am in the same boat as you but i would not do any further upgrades in cloud mining in the future.
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well in between they were not giving payments i hope that is sorted out now
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Apparently Genesis Mining had decreased their payout for some times. I don't know if it still happens but I'm going to stay away from it for now. I guess at least if anything goes wrong you are not the only person that is going to be really depressed @goofyu
I wish you the best of luck! :)
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Bitconnect is down so we will refuge to genisus mining
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Didn't they stop paying somewhere in the middle?
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