Mining report: 3 months payback time

in #cryptocurrency8 years ago (edited)

3 months of mining at Genesis Mining. I am soon break-even. It has been a better investment than I ever thought it would be.

Starting off march 20.

Dagger-hashimoto 2 Mh/s (ethereum) (+ 5 Mh from june 20.)
Scrypt Hashing 2 Mh/s (Litecoin)
X 11 5 Mh/s (Dash)

Total cost: 108 USD +a fee

At April 20.

After 1 month of mining with X11 and dagger-Hashimoto at Bitcoin mining and Scrypt at Litecoin mining, the situation looked like this:

DQmdkvQNphrgpRSqebJB6PstDTAZHN99J3b4U5ViMRe7dxG_1680x8400.jpeg

At May 20.

After the first month, I switched the dagger-hashimoto to Ethereum and X 11 to Dash. And this is how that had panned out:

DQmd1wvVUQ7Ypg3MZZAxdfiSf5JwyYXsmhYtVgmHiJXEqH5_1680x8400.jpeg

At june 20.

Three months and I have almost covered the 108 dollars I put into these three mining contracts:

Screenshot 2017-06-20 04.49.40.jpg

Worth noting: There is ether probably worth $7 that has not reached me yet since they pay out in chunks of .05 at a time. I have not sold or traded any of these yet. It has just accumulated. I am looking for LTC 0.02, which seems to become a reality soon. And I am looking at relocating the ethereum. It might be the upcoming EOS ICO. It might be something else. I have started buying Nem for as much as I can, I might just pour everything into that as well. I haven't decided yet.

Upgrade

I have today, june 20. upgraded my ether mining with 5 mh. I paid by credit card, since it is a reasonably cheap way to get into the crypto space without robbing the bank. 150 dollars for that upgrade. So from next month, we are looking at 7 mh in total of ether mining.

Profitability

As you can see, this has been very profitable. At first month, I thought it would take 8 months to be profitable. At 2. month I looked at 6. And now at 3. month, I have almost recovered everything. I'm impressed. And the reason is the huge influx of new money in this space. And a rally that I have not yet seen anywhere else. If it continues, this will by far be the most profitable I have ever done.

Is Genesis for you?

I don't reccommend anybody to play with their money they are not willing to risk. But if you do, humor me by using the promocode Vqgrc7 It will give you 3% off your purchase. You find them here: https://www.genesis-mining.com/

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Very nice! Gonna join you soon

thanks for sharing your experience with mining contracts. I have been worried that they were scams or not profitable at all for those invested. I am glad it has been profitable for you. I might look into for myself now. I will follow to keep with your progress.

Cool. I was sceptical myself. And I am not at all 100% happy with them. I wrote about it in my may 20. report. But I deleted it in this one.

Yo @funkit ! Got into Genesis mining a few weeks ago for ETH contracts and was doing them in bigger MH bulk buys, but I started doing it just +1/2/3 MH/s increments at a time so I could use other people's affiliate codes and hoping they will use mine next time too!

Next time you upgrade your hashpower use my code! NkQanX Ill make sure to return the favor bro!

When you use my code, any contract upgrade is fine, I am investing in ETH myself but appreciate the return love of any Hashpower! I followed you too :)

yes 3 months is a common RI with good contracts these days! Thats why I prefer pool.bitcoin.com because they offer a LIFETIME contract which genesis wont give you :P AND its a faster ROI!
genesis i guess can do altcoins , but i would just do minergate for alttcoins and just buy a computer and a GPU run minergate and a solar panel an youll just feel cool with a bunch of machines around u know computers make u feel good

having a bunch of video cards around feels awesomee,

they talk shit about the heat or the guy who died of heat stroke as just a crazy example used by anti biitcoin people OR miners who just dont want anyone else mining to keep it all for temselves, bahaha

if crypto mining WASNt profitable noone would be doing it hahaha i love it

if u can figure it out its a gold mine, electrical paradise, its a dreamworld made up of math and encryption and Its our golden ticket to the Chocolate factory! And were gona meet willy wonka and get in that glass free energy anti gravity elevator and were gonna change the world!

Good for you!