@cryptonick I am a new follower of yours. I think you are doing quite well as a young entrepreneur and investor. Keep up the great work. If some adults put in half as much effort as you, they would be successful.
Thinking about doing hashflare just for the ltc contracts because i love genesis mining, but no litecoin contracts available. Thanks for all the great updates Nick!
To those of you thinking about purchasing a BTC mining contract... take this into consideration when looking at the calculators
Current maintenance fee: USD 0.00028 per GH/s per day. Say you buy the $1,950 contract for 15,000 GH/s. --> ($0.00028)x(15,000) = $4.20 cents a day.
So make sure to subtract that from the current $13.86 --> $13.86 - $4.20 =$9.66. But that's not the number that concerns me. It's the fact that they take the FIXED FEE of $4.20 in bitcoin. So todays cut would be ($4.20/$2600) = .001615 BTC. So divide that by the total --> .001615/.005322 = 30.35%.
What is IMPORTANT to consider is that if the bitcoin price goes down that will become a LARGER PERCENT. Imagine the bitcoin crashes to $1,700. Now Genesis's cut is -->$4.20/$1700 = .002 --> percentage-wise = .002/.005322 = 47% cut to genesis.
However in all fairness, if the price drop, so will the difficulty, and the equilibrium of payout likely will be almost maintained. Right now ETH is doing a terrible job maintaining that equilibrium. Bitcoin might be more promising but here's where Bitcoin contracts fundamentally differ IMO.
When the price goes down on most contracts, so should difficulty, and thus coin payout goes up. With bitcoin when the price goes down the amount of coin payout is less. And ofc bitcoin is "lifetime" there is that.
These genesis mining contracts are like going to an all-you-can-eat restaurant and trying to break the house. Not saying they are bad, I have over $3,000 in genesis but the real question to ask yourself is am I getting more coins at the end than if I were to buy it now? That's what you want to beat
How do you feel about using earnings on hashflare to purchase more mining power? I am looking at doing the auto-reinvest for a few months to really build some hashpower. Safe way to build earnings or a bad investment?
you must b trippin!!!!! $6,720 for 504 MH?!?!?!?! but then again it is 'cloud mining'
@cryptonick I am a new follower of yours. I think you are doing quite well as a young entrepreneur and investor. Keep up the great work. If some adults put in half as much effort as you, they would be successful.
Thinking about doing hashflare just for the ltc contracts because i love genesis mining, but no litecoin contracts available. Thanks for all the great updates Nick!
great video! I am still debating on whether to get hashflare LTC or Genesis BTC.
I already have Genesis, so Hashflare would be entirely new.
I do like that the Hashflare is a LTC lifetime contract!
Yeah the lifetime part is definitely a huge bonus. I've been considering doing like a 1GHs upgrade haha we'll see
To those of you thinking about purchasing a BTC mining contract... take this into consideration when looking at the calculators
Current maintenance fee: USD 0.00028 per GH/s per day. Say you buy the $1,950 contract for 15,000 GH/s. --> ($0.00028)x(15,000) = $4.20 cents a day.
So make sure to subtract that from the current $13.86 --> $13.86 - $4.20 =$9.66. But that's not the number that concerns me. It's the fact that they take the FIXED FEE of $4.20 in bitcoin. So todays cut would be ($4.20/$2600) = .001615 BTC. So divide that by the total --> .001615/.005322 = 30.35%.
What is IMPORTANT to consider is that if the bitcoin price goes down that will become a LARGER PERCENT. Imagine the bitcoin crashes to $1,700. Now Genesis's cut is -->$4.20/$1700 = .002 --> percentage-wise = .002/.005322 = 47% cut to genesis.
However in all fairness, if the price drop, so will the difficulty, and the equilibrium of payout likely will be almost maintained. Right now ETH is doing a terrible job maintaining that equilibrium. Bitcoin might be more promising but here's where Bitcoin contracts fundamentally differ IMO.
When the price goes down on most contracts, so should difficulty, and thus coin payout goes up. With bitcoin when the price goes down the amount of coin payout is less. And ofc bitcoin is "lifetime" there is that.
These genesis mining contracts are like going to an all-you-can-eat restaurant and trying to break the house. Not saying they are bad, I have over $3,000 in genesis but the real question to ask yourself is am I getting more coins at the end than if I were to buy it now? That's what you want to beat
Good information.
Do you foresee that the per-day cost going over and above daily income on lifetime contract?
Also, can you opt out of the plan/completely - if you wanted to? (on the life-time contract)?
you wouldnt want to opt out, you already payed for it
But I have to continue to pay fees? my question was 'is it still profitable AFTER fees'
read my post above gave u the full analysis. Subscribe for more ;)
Are the litecoin lifetime contracts still as profitable after the recent price drops?
How do you feel about using earnings on hashflare to purchase more mining power? I am looking at doing the auto-reinvest for a few months to really build some hashpower. Safe way to build earnings or a bad investment?