Hello fellow steemians, in today's vlog I go over how much money I'm currently earning in Mining Ethereum, I also explain whether or not if Mining other coins are profitable or not with Genesis followed my a short market recap before my laptop froze and ended the video 😩 I thought I lost it because I had to do I cold restart, I hope you enjoy
Minimum cost to mine ETH with Genesis is $29.99, and makes $6.29 a month, $75 a year and gues up as Ethereum goes up or the opposite
Minimum cost to mine XMR with Genesis is $49.99, and makes $5.31 a month, $63.72 a year and gues up as Monero goes up or the opposite
Minimum cost to mine BTC with Genesis is $30.00, and makes negative $3.54 a month and negative $106.30 a year and that number goes up in profit as Bitcoin goes up or the opposite but its negative the first nine 12 months because it's a life time contract, so anything that you mine after that first year is pure profits ( I rather stick with ETH, "my personal opinion")
Please watch my video and tell me what you think?
remember always to Steem on- Untill we Steem again-Lyken Crypto- keep Learnin, Keep Investing.
in the voice of Adam Meister "POND THAT LIKE BUTTON"
Add me on Facebook to get to know me more and get updates on when I post on steemit, all your support is appreciated
https://m.facebook.com/lawrence.lyken?ref=bookmarks
Get 3% off every order at Genesis Mining by using code 5Lp4c3 at check out
https://www.genesis-mining.com/a/753865
Wow very very very amazing i am so impressed, this is a business totally worth trying.
Also great mercedes dude :)
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Thank you man I truly appreciate it, here's one of my friends visiting their mining facility today
https://steemit.com/trevonjb/@trevonjb/inside-the-genesis-mining-farm
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Great job. Ive thought about mining contracts and mining myself but it seems like too much work with a ? on the amount of money that can be made but this post really helped break it down. Thanks @lykencrypto for breaking it down for us!
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I agree that mining can be a bit of continuous monitoring process. I have learn some new things on this post. It's really smart to mine an alternative (Ether) without going after the top coin (bitcoin).
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This post received a 2.7% upvote from @randowhale thanks to @codebreaker! For more information, click here!
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Thank you very much I really appreciate your upvote also 🙏👍 , there is no work at all that's why I mine with Genesis, there is no fee for electricity or maintenance when mining ether with Genesis you just buy the hashpower and ETH is sent to your wallet everyday, the ROI is 5 months on a 2 year contract 🚀
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Wouldn't you be better of with buying and keeping ethereum then spending ethereum on mining ethereum ?
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You can also use my code: SDbJ5T :)
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I'll match you if you use mine just leave me a comment on YouTube 👍
https://steemit.com/food/@lykencrypto/i-hope-this-taste-as-good-as-it-looks-trying-something-new
https://steemit.com/steemit/@lykencrypto/jell-o-shots-with-my-brother-and-wife-enjoy-life
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Followed and upvoted! I mine Ether with genesis as well. Not a ton of money but it's cool. I think I'm getting .025/day right now.
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That's awesome man, slowly does it... I was already following you, I appreciate the follow, I'm always willing to match hashpower... be sure to upvote my newest post "GIVE IT YOUR ALL" 👍
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I am minning ether and having it turned into Steem, its prodocuing me about .4-.6 steem power daily with 5 mh
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Great summary of the benefits of using Genesis Mining. I just signed up last week for a 2 year ETH contract. I'm mining 50/50 ETH and ETC right now.
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Good deal man, I'm always willing to match hashpower.. ETC will be big in a few months 👍
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Wow Great job @lykencrypto, I have learn new things on this post, Followed and upvoted! :)
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No thank you, I followed you back.
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:) ^^
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😊👍
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Very helpful stuff, learned more from this than I could research in 15 min. Where do you see Steem in the short and long term? (sidenote: Probably would advise to delete the word "retarded" from your vocab though)
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Yes you are right, I shouldn't have said that and I do apologize if I offended anyone. Thanks for the advice, and I really appreciate you watching video. I see Steem at $5 at least before the end of the year.
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Love the video! Upvoted, followed and subscribed to your Youtube channel.
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I truly appreciate all the support, leave me a comment on YouTube so I can subscribe back to you.... I also followed you back on here
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great job i appreciate that
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Thank you, and r-Steem/share would be appreciated 👍😃Just followed you
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Very well explained the benefits of Genesis Mining!!!
Good post my friend.
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I also was wondering about genesis mining - I have read a ton of posts on the web accusing them of scam so I stayed away - this post has me turning my attention to it again! ThankYou @lykencrypto for sharing what you've learned
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lol yea I was the same way but about crypto in general then I had to open my eyes and ignore all the haters who don't have money to invest and look at the big investors who are making money.... look at this post below
https://steemit.com/trevonjb/@trevonjb/inside-the-genesis-mining-farm
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Mining ethereum is the best way to be rich! Good post!
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Thank you very much, your comments and upvotes really help me a lot 👍I also followed you
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Very informative article. Thanks for posting it.
Upvoted and following you now. I write a lot about cryptos and PMs on a daily basis. Check it out.
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Thank you, I really appreciate it, I followed you back and also updated a few of your post 👍
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Yup... Ether is here to stay.
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I agree with you 100%, a lot of people will be shaken out....
https://steemit.com/food/@lykencrypto/i-hope-this-taste-as-good-as-it-looks-trying-something-new
https://steemit.com/steemit/@lykencrypto/jell-o-shots-with-my-brother-and-wife-enjoy-life
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meep
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Nice breakdown of the profitability of Ethereum. ETH appears to be a good long-term investment; especially if the price keeps exploding the way it is. like they say around 9 months to break even. The price is on the decline currently, looks like a good time to buy.
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Thank you very much, Ethereum is great for longterm. The break even is around 5-6 months not 9- you will get 18-19 months of profit so it is very profitable. And yes there was a nice buy-in dip today. 👍😃🚀 followed
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Thank you for the info, I have always wondered how profitable mining BTC and ETH were these days
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Yea mining ETH is great, give it a shot 👍
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Good job, thanks for great infos.
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Thank you, your comments and upvotes really help me a lot 👍👍👍
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Nice man; keep it up! Looking forward to your next update!
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Thank you I really appreciate it, I'll be doing another video tonight 👍
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awesome stuff!!
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I want to upgrade my eth contract but where its a 2 year contract vs the btc lifetime i think the btc has more value long term. I will be pushing my eth up once im happy with the level of my btc. And you know i'll probably use your code for most of these lol
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It's takes to long to break even with btc, and there are fees to mine btc TRUST ME ETH IS THE WAY TO GO, I have 7th of sha 256 so I know what I'm talking about 👍😎... you also have to consider the difficulty of bitcoin increasing so the price of btc will need to continue to rise also
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interesting post... following.
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Thank for very much, I followed back
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Thanks for this mining breakdown just purchased 2 avalon6 miners and I plan on mining dash.
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That is awome man, good luck 👍 thanks for stopping by
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Nice one fam I think bitconnect is about to be huge. I'm going to take your advice and start focusing more on my ether mining contract.
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Yea, it's the best contracts available on Genesis, I'm surprised that they haven't sold out, I might just go ahead and upgrade to 200 mh idk hmmmmmm
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The reason they arn't selling out is because in August, Ether is suppose to fork. If it forks and your mining on genesis ETH contract you will no longer be able to mine ETH. Therefor they will send your contract to the next best thing they can mine using that algorithm. I heard that would be Litecoin. So your contract will most likely last another month and then you will be mining litecoin. Best advice would be to plan for that and check you what you would be making with Litecoin vs Ether.
If you would like to share 3% off codes I'm interested in using someones Code. Use mine and I will return the favor. 89SGMp
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But it's more likely that bitcoin will fork vs Ethereum, so think if Ethereum doesn't fork 🤔🤔👊👊
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Ya, just saying use cation as Litecoin wont make you as much as Ethereum is right now. So if they stop mining ETH and ship your contract over to Litecoin you might not even make your investment back (if it drops), as its so much cheaper right now. If Litecoin skyrockets when this happens then maybe it wouldn't even matter. You would have to make your investment and any profits you are expecting to make within a two year contract if this did happen. Maybe wait a till August to buy the ETH contract but on the other side if it sells out you missed out and the ship sails without you.
As you can see ETH will make about double right now vs Litecoin. If Litecoin drops back down to $28 it would be even lower.
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Yea but also keep in mind "GENESIS NEVER SAID THEY WOULD USE LITECOIN, they said the exact opposite, that they would use the next MOST PROFITABLE" so I'm willing to upgrade and see what happens down the line. People really made out good with their Z classic contracts
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I just invested $1000 in BitConnect, and planning to reinvest my profits as time goes on. BitConnect is great! If anyone wants to use my referral link :] try it out: http://afino.link/BitConnect
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Thanks for this, very helpful. It's interesting that BTC takes so long to profit. I wonder if the hashrate is still efficient after that length of time? I haven't run the numbers but it seems like buying on an exchange might be cheaper in the long run.
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I totally agree that's why I stick to Ethereum and Monero with Genesis, but mainly Ethereum 👍...
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What are you mining on your laptop?
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No sir, I use Genesis Mining, they are a cloud mining company, so I pay them to use their equipment and I receive daily payouts. Since I'm always traveling it's better for me to invest this way so I don't have to pay to replace graphics cards and electricity. And there is no maintenance fee when mining Ethereum Or Monero with Genesis
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Good, clear post! It should bring traffic to Genesis Mining which they'll appreciate. Ether is currently the only thing I mine on Genesis, whoop whoop! Anyway, I'm still a little minnow on steemit though I think my recent post falls in line with this one. Check it out if you get a free moment. Thanks again for the good post!
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Thanks for stopping by and leaving a comment I really appreciate it, only upgrade my ether contract also as it's the most profitable coin to mine with them at the moment 👍 I just out your post and upvoted it and followed 👍
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✌Much love mang
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Good looks fam check out and like and re-Steem my last to post I'll hit you with some good upvotes
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haven't starting mining yet, Looks really interesting need to do some research any ideas where I can start to learn about it all..
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Yes sir, it's the best time to mine Ethereum now, go to the link in the post above and you'll see their website, and below is a picture of a friend at their facility today
https://steemit.com/trevonjb/@trevonjb/inside-the-genesis-mining-farm
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I love ethereum!! so much will start mining soon!
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Awesome, use my code for 3% off and I'll match you back just let me know how much you upgrade 👍 I followed you back
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Great post! Yesterday I did some long calculations figuring out how much money I would have to invest into Genesis Mining in order to achieve a more or less steady monthly stream of income at about $3000 and the answer is about $1000 every month for 12 months. Having figured that out I picked up a job at Amazon working a night shift specifically in order to make the money required in order to fulfill this plan! To anyone in doubt about the legitimacy or profitability of holding the right cryptocurrencies into the future should scour youtube and research for yourself the enormous opportunity we have for ourselves here! My plan is to work my ass off for a year and then quit all my jobs and live purely off the profits that I'll be making through Genesis Mining! Very excited! We can all do this! Does't mean you shouldn't figure out for yourself the trajectory some of these cryptocurrencies are tracking, but for the most part Genesis Mining is going to be instrumental in freeing me from debt and allowing me to live a life on my terms! Next time I upgrade in a couple of days I'll use your code! I'm doing ~$1000 upgrades monthly so I'll use people's codes if they also use my code! UG6sq8.
Peace!
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iWow man that's amazing, go for it.... If you use my code I'll match your upgrade just comment and let me know how much you updraged,
Hey I would like to grow a steemit group on Facebook of people who can share information about Steem with each other and like, upvote, and re-Steem each other's content. Let me know if you're interested in working together. If you have time please comment and upvotes my two recent post... I look forward to helping you grow here on steemit
https://steemit.com/food/@lykencrypto/i-hope-this-taste-as-good-as-it-looks-trying-something-new
https://steemit.com/steemit/@lykencrypto/jell-o-shots-with-my-brother-and-wife-enjoy-life
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When I upgrade soon I'll come let you know!
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Congratulations @lykencrypto! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honnor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPBy upvoting this notification, you can help all Steemit users. Learn how here!
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Mining is definetly profitable but you should always purchase the most stable coin in order to make profit.
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I totally agree, and with the big rise in Ethereum is best to mine it other than btc, I've been mining eth since it was $30 👍
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I think you need a license plate bro
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What are you talking about, in my state we don't have license plates in the front 😂😂😂😂
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Is it true that ether mining is batter?
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Yes sir, it's the most profitable 👍
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Nice one, i signed up with your bitconnect link and will deposit a few hundred dollars, could you please send that 1bcc to me My name is jambo1219 8ZYE61eeo3TLoW2k7N8zyRTygMTDaRAmEc
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I'll text you fam 👍👊
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Minergate is also a good platform to invest/mine!
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There are a few but Genesis is the best one for investors
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It's been a few weeks since I've been studying Genis Mining, but I'm not sure if it's better to buy criptocurrency or use these mining services. However this seems like a real service, I also found an interview with Genesis Mining CEO on Forbes, I think I might be interested https://www.forbes.com/sites/julianmitchell/2016/12/15/meet-the-27-year-old-mathemetician-building-a-bitcoin-empire/#3aa49c021d74
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Yea Genesis Mining is great, but It depends on what you mine for example I rather mine ETH than buy it, but at the same time I rather buy bitcoin than mine it. So I diversify and mine only what's most profitable
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I have followed you and have also used your affiliate code for the purchase (5Lp4c3). You can follow me now
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When did you use my code and how much did you upgrade, I don't show any email or extra hashpower. If you use my code let me know how much and I'll match you back
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Good video, but I do have a question for you. Don't you have to keep in mind how much initial investment into cloud contracts did you put in to get this $900 a month? If someone starts out with $10,000 invested into cloud mining then they will most likely be making big money every month but they had to initially lose that $10k.
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What's up crypto wolf 🐺, I just followed you, I go over how much it cost to make that much and I don't have to look at how much I spend because the return is 3x the principle investment, so knowing that it, you can invest a small amount or big amount with 0% risk of lost I also went over that in my video 👍
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Thank you for the comment and clarification. I was going off of the 175MH contract costing $4900 USD and only providing ~$928 USD in monthly return, thus keeping the buyer in the negative for half a year. Putting some more thought in it though, I realized I may have come off as unfairly critical of your video. Thanks for the post and keep up the video explanations. I have followed you back.
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Cool man, I am impressed !!!
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Thank you very much, if you have time please like and re-Steem my most recent post 👍
https://steemit.com/food/@lykencrypto/i-hope-this-taste-as-good-as-it-looks-trying-something-new
https://steemit.com/steemit/@lykencrypto/jell-o-shots-with-my-brother-and-wife-enjoy-life
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Great job! Very helpfull.
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Thank you very much
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Thanks for the information really appreciate it, and I'm going to start with genesis.
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Awesome if you use my code for 3% off I'll match your upgrade just leave me a comment on YouTube telling me how much you upgraded. and there is a calculator for that put cost is O% because Genesis doesn't charge a maintenance fee to mine ETH or XMR
https://www.cryptocompare.com/mining/calculator/eth?HashingPower=1&HashingUnit=MH%2Fs&PowerConsumption=132&CostPerkWh=
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I purchase 4 mh/s using your code, My code is WGQYF1 thank you
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Never got that, when? You should have a email confirmation as well as me, look at your email am tell me when your order was approved 👍
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I apologize I did 3 transaction and two of those I used your code on my second and third purchase. 2nd transaction I did one mh/s and the 3rd transaction I purchase 2 mh/s.
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one was on the jun 22 and two was today jun25 morning, but it shows jun 26 thats weird maybe time zones.
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How do you get the numbers on the boxes that say Power Consumption and Cost per KW/h
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I never expected this much profit could be gained from cloud mining. Sounds like a good deal. I tried Genesis 2 years ago but it never worked out so I turned to trading instead. I think Stemmit pays better than cloud mining but it is not passive income. Hope to read more favorable updates from you.
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Hey man I really appreciate the support, and yea Mining is extremely profitable depending on what you mine.
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What is the life of the mining equipment?
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I never bought any I just cloud mine so I don't have to pay for equipment
https://steemit.com/food/@lykencrypto/i-hope-this-taste-as-good-as-it-looks-trying-something-new
https://steemit.com/steemit/@lykencrypto/jell-o-shots-with-my-brother-and-wife-enjoy-life
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I am thinking of building a rig for ethereum, for start 5 x RX470 with cost of 1500 euros. Check on mycriptobuddy.com sad that one RX470 is making 3.851$/day.
https://ctrlv.cz/ePo2
5x3.851=19.255$/day
What you do you think?
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Awesome man I truly appreciate it I'll check it out 💯👍
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Does difficulty level of mining ETHEREUM goes up with time like bitcoin or not?
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Yes but the price of eth has risen so much that it won't effect the profits at all
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Eth is in turmoil from the last 24hrs. Don't have a clue why is it so..
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I started buying ETH @ $40 so I don't mind what happens with the price 👍
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I'm not going to lie... all those pictures of graphs and numbers... eh, not so much... but then that emotional picture of you leaning up against a Mercedes?!? BOOM! LOL
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😂😂😂😂
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Resteemed!
Only question I have Lyken is isn't it "zero" and "zero" for power consumption and cost per KW? I read in GM that there is no maintenance or power cost.
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Yeap that's right, only one that does have a power and maintenance fee is bitcoin because it's a unlimited contract where you mine as long as bitcoin is profitable but that's why I stick with eth for now, maybe some more Monero down the line 👍
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Got it, thanks for the info bro. Makes it easier to figure out what the deal is!
Dont do much in BTC but the referrals I get has some running for me.
Thanks!
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Yes sir, you're welcome man, it took me a long time to figure everything out, like where to find the calculate and etc so I figured it would be good to share 👍
Same here, I try to stick to ETH
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Great share!
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Thank you I really appreciate it 👍
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didn't hear the NF banging in the back until after my first post, love it brotha, clean music with a good message!
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Yes sir, NF thats my dube bro, his new album go hard, it isn't out yet though. YouTube his new song psycho... didn't you get the hashpower from my upgrade?
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NF you can play albums through without skipping anything, rare. Haven't done that since St. Lunatics Free City in high school haha. Ill check his new song now.
Yeah i did get the HP from that upgrade, appreciate it. I got your code on rotate.
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i wish that after a few months here i would have the money to invest in mining the coin
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You have to start small and build yourself up
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I AGREE THIS MINING BUT IT'S REAL MINING PLEASE TELL ME.
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Yes Genesis Mining is the best and biggest mining facility in the world 👍
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Good post. Useful for some. Others are not interested.
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If it helps some then my mission is fulfilled 🙏
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Someone promoted your post. Promotions help every steemians.
Your reward is an upvote and 1.316 SBD extra promotion.
Good job, see you next time in
Promoted! ;)#steam4steem
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I promoted my own post
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Got a question... What about mining on mobile devices? The rising technology could make it happen right? That would make things so much easier!
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Well that's kinda what I do with Genesis, I monitor everything from my phone. Only time I use the computer is when I record my videos 👍😎🤓
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follow this link please https://ethtrade.org/@036809
i have been using this since plenty long time now and i found it better than mining. good enough returns. can withdraw principal amount any time.
no boundation.
life long returns
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I use bitconnect ...
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How do you access it? I'm from the US and it won't allow me to create an account...
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btc trade is really good by coinbase... 😍 pls follow me and vote i am new here...tnx
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Just followed you, what do you mean by Coinbase trade, I don't trade on Coinbase just I buy from here 👍
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When btc is down then u will buy btc and when btc is high then u sell btc ..thus u can a much profit them....
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오는8월달이 매우 기대되는군!!
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👍
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interesting post... following.
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Thank you I just followed back, a re-Steem would be highly appreciated 😂😎👍
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no problem
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Bro you are the best thank you very much 👍
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😀
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😃
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LoL Adam Meister "pound that like button people" I adore Adam!!
Cool post!! I am not knowledgable in the mining area, but learning something new everyday here at Steem!!
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I didn't know anything when I started either, I've only been in crypto since April of this year
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I know many are doing cloud mining as the costs with setting up your own gpu miners is very costly. I ought to know as I set up 13 - 6gpu rigs earning me over $10k a month sometimes more or less depending on the ETH price and difficulty levels.
Check out my blogs here:
https://steemit.com/ethereum/@vegasbitcoin/are-you-making-over-usd100k-dollars-a-year-mining-crypto-s
and here:
https://steemit.com/ethereum/@vegasbitcoin/13-6gpu-ethereum-mining-rigs-set-up-pictures-overall-costs-and-apps-that-i-am-using
Great job and i wish you continued success!
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Cool thanks man 👍🤓
https://steemit.com/food/@lykencrypto/i-hope-this-taste-as-good-as-it-looks-trying-something-new
https://steemit.com/steemit/@lykencrypto/jell-o-shots-with-my-brother-and-wife-enjoy-life
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No problem, my pleasure. You gotta love Steemit
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I have also mined with Genesis and it's paying off nicely.
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I will make a post proving you wrong in a few hours or next day. Mining is not a good investment, you can only profit by promoting it, you are playing dirty.
First of all, if you have a gold mining machine (literally, that is what Ethereum mining rigs are) why would you rent it for less than it can produce in gold?
Cloud mining are either
1)Scam and will cloe before you recover your money, unless you promote.
2)Real (like Genesis Mining) but you pay more than it produces (because of difficulty increase) thus you won't ever get your money back, unless you promote it
Yes, I bought a mining contract on Genesis 1 year ago to test and it did made me a 40$ profit, but that is because of PRICE INCREASE
example
I put in 0.1BTC that is worth 100 bucks and get back 0.05BTC worth 150 bucks
sounds great right? But I lost 0.05 BTC and if I had held I would have 0.1BTC worth 300 bucks
Do the accounting man! in my example I did not win 50 bucks, I LOST 150 bucks!
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You are still earing profit if you purchased a bitcoin contract 1 year ago because that's a lifetime contract where you mine as long as bitcoin is profitable so you are technically earning PROFITS everyday 🤔
https://steemit.com/trevonjb/@trevonjb/inside-the-genesis-mining-farm
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I DONT MINE BTC MY POST CLEARLY STATES ETHEREUM
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no problem, the same logic applies dude, here it is, your ethereum calculator to profit your profits are non existent, a loss or very small to a point it is not worth http://www.mycryptobuddy.com/EthereumMiningCalculator
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Very good article. I fully understand what you're talking about. The decision to buy a coin should be based on real analysis of the coin. I found that people keep buying coins without have any knowledge of them. This is considered high risk. Besides coinmarketcap.com there is: https://www.coincheckup.com Supposingly they researched every crypto coin in the scene based on: the team, the product, advisors, community, the business and the business model. They even score the coins stengths. See: https://www.coincheckup.com/coins/Ethereum#analysis To see the: Ethereum Detailed report
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You can also earn eth here by doing tasks
https://coincircle.com/l/9u74AYOG2V
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It's Pound that like button, not Pond !!
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😂😂😂😂😂😂😂😂😂😂😂😂 thank you, didn't catch that, Thanks again
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