Do you have any mining positions througg hashflare, genesis, your own rigs? Or do you prefer to buy off of exchanges only?
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Do you have any mining positions througg hashflare, genesis, your own rigs? Or do you prefer to buy off of exchanges only?
Hehe. I do mine some moneros and eth through genesis mining. I'll be doing that for a few years. I signed up almost a year ago. But..I could have just bought ETH instead. But I invested like $1000 so it was mostly just for fun and to "do some mining". I haven't even been paid back my initial investment after a year, so definitly not worth it. If I just bought 1000$ worth of ETH a year ago that would be like many more thousands worth of eth now :)
When I first got into cryptos I did the same thing. 90% purchasing directly, 10% into mining... for fun. Luckily, I'll pay off the Genesis contract within the first year thanks to the meteoric rising in value, leaving the second year as straight profit.
I have a few friends running rigs at home. Solar powered homes, so energy is almost a zero cost, but their rigs cost them ~$9,000 to build. At that rate they'll be paid off in a year at ~1 ETH a month. The buy and hold strategy has proven to be better in terms of returns, but that's over 9 months... if they keep mining then they could definitely end up getting better returns, but its also a good amount of work.
Thanks for sharing your positions. Its always interesting to see how people build their portfolios.