But why wait for payouts and trust a 3rd party to pay you out? Why not take the amount spent on contracts and just buy btc or dash and hold it? Just curious.
I personally like the payouts as they give me the incentive to save them. Especially as the contract is lifetime for Bitcoin, it could run for 6 years until unprofitable to mine. :)
Lol as long as you realize there is risk. The greater good? There will be miners with or without mining contracts. I just hope you think and understand, that anytime you give someone money and they promise to pay you out in payments, there is risk that they could either fail, or just not pay out. I haven't heard negative reports on Genesis, but I've seen man mining contracts/companies fail, then fail to pay out over the last few years. Now if you are gaining more BTC and it's worth the risk, then maybe it's worth it for higher payouts than what you can just buy in one lump sum with the same amount the mining contract costs. But other than that, why risk it, when you buy and secure yourself? To each their own. Welcome to Steemit and the bitcoin space :)
I do understand the risk yes, but again I am willing to take that :) I, myself have seen companies collapse as I have been a victim of that myself, but again it's a risk. I do not like to hold BTC as I have the urge to spend it, and most of the time I will spend it on something wasteful, such as a game. So why not invest into Genesis? Haha. Thanks for the warm welcome to Steemit and I hope to create some great content for the community!
I like the daily payouts from Genesis :)
But why wait for payouts and trust a 3rd party to pay you out? Why not take the amount spent on contracts and just buy btc or dash and hold it? Just curious.
I personally like the payouts as they give me the incentive to save them. Especially as the contract is lifetime for Bitcoin, it could run for 6 years until unprofitable to mine. :)
Hmm well good luck!
Thanks. I know some people have their doubts about it, but I do see you have a valid point :) I like to risk for the greater good!
Lol as long as you realize there is risk. The greater good? There will be miners with or without mining contracts. I just hope you think and understand, that anytime you give someone money and they promise to pay you out in payments, there is risk that they could either fail, or just not pay out. I haven't heard negative reports on Genesis, but I've seen man mining contracts/companies fail, then fail to pay out over the last few years. Now if you are gaining more BTC and it's worth the risk, then maybe it's worth it for higher payouts than what you can just buy in one lump sum with the same amount the mining contract costs. But other than that, why risk it, when you buy and secure yourself? To each their own. Welcome to Steemit and the bitcoin space :)
I do understand the risk yes, but again I am willing to take that :) I, myself have seen companies collapse as I have been a victim of that myself, but again it's a risk. I do not like to hold BTC as I have the urge to spend it, and most of the time I will spend it on something wasteful, such as a game. So why not invest into Genesis? Haha. Thanks for the warm welcome to Steemit and I hope to create some great content for the community!