Another day passed and the mining per unit increased from 0.0066 to 0.0068 for 10mh. Finger cross that it will still time for me to break even and at least to get some return back after the contract ends.
For the current projection, I make
9.3% return for capital
breakeven period is around 4.66 months
assumes:
- the price remains unchanged
- difficulty remains the same
Therefore the projection is likely to be overestimated but good that the contract is for 2 years and therefore still plenty of time to make up.
are you renting mining power?
Was thinking the same....
yes renting mining power for ETH 10/mh for 291 USD 2 years.
I have been very intrested in genesis mining. I started with Hashflare, currently got about .8TH, making roughly $0.75 per day. The return on investment so far is looking like 150 days, with the same assumptions as you stated above. Can't decide whether to keep reinvesting, or send my earnings into a contract with Genesis. Keep us updated on your projections as you continue! Havea great day (:
glad you like it. in my opinion, ETH probably not a good option anymore as the per unit mining has decreased around 20% since from the start of contract 13 days ago. it is now supported by increased in price. I would surely update every day so you can see more before making a informed decision :)
I've had 12Ths at a half dozen websites virtually wiped out due to the difficulty factor over a two year span. I am focused on Ethereum now.
yes. good thing on genesis mining is that if it move to POS (which mean you are not going to earn with GPU miner), they will allow you to switch by that time.
wohoo lets go baby
im at day 4 now on genesis and im lovin it
Genesis minning Affiliate code: wUQ3KL
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!
I just used yours, it was only for +1 MH/s but looking to spread the love! I followed you also, trying to connect with people here on STEEMIT!
Next time you upgrade your hashpower use my code! NkQanX
Any contract upgrade is fine, I am investing in ETH myself but appreciate the return love of any Hashpower!
thank you but i didnt see you in affiliates though
Weird, I have heard that before, I do like 6-10 at a time with all different codes, so maybe Genesis holds some back? Not sure.
I have been looking at Genesis mining !
Would you do it again?
Thanks for the comment. I think maybe not now. There are few reasons, the per unit has decreased about 20% since 11 days ago so the current return and projection period is basically inflated by the higher eth prices, and also eth is switching to pos anytime soon, genesis mining does mention the flexibility to change to other coins but you never know.