Today i say OLA to Steemit crew from Barcelona. I'm on three weeks vacation in Barcelona, Canarian islands and Paris. First stop in Barcelona.
I still follow Coinmarket, currency miners, Steemit, reading about new cryptocurrencies. So today i will share my payouts i've got on Genesis mining in 17 days.
Friends, look at my numbers at Genesis mining. On 7th of June i bought 20 TH/s Open-ended Bitcoin mining contract with my credit card for $2522. Contract daily maintenance fee: USD 0.00028 per GH/s and day.
Today i've got 17th daily payout from Genesis, so i've received in total 0.10021735 BTC (± $265.15).
ROI of 17 days is little bit more than 10%, not bad, but what's gonna be next? Payouts are decreasing, still think that 100% will return (ROI) in 8-12 months.
Do you use Genesis mining or use another platform? Maybe you're mining with your own hardware and ROI is better? Share your thoughts and experience. Let's discuss in comments!
I have 20k $ sitting in Genesis mining, and I am really worried about that money
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Why? And when did you started?
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First of all you should calculate your ROI in BTC, not in USD (since your income is in BTC) - so your investment is 0.9 BTC (June 7th BTC/USD price).
With the information you gave us, it is possible to calculate your ROI, because almost all variables are known (though still they are not constant). Since you started - the Bitcoin mining difficulty increased only once in your 17 days of mining, from 678,760,110,082 to 711,697,198,174 - thats increase by 4.63% and your profit dropped 7.97% (in 2 weeks time span).
Analizing my own investments in cloud mining I can asume that 5% increase in difficulty gives 9% decrease in profit.
The bitcoin difficulty increases every 2 weeks, so using simple math your initial investment should return in 280 days (9.5 months).
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ROI = Return of investment. Investment was in USD (actually in euros). Payouts are in BTC. Besides, you never know what difficulty will exactly be in the future. It's not just like that.
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