For the wonderers and worriers of the Genesis Cloud Bitcoin Mining decreasing payouts, read the reply of Genesis Mining to my query about it.
Unfortunately ROI is difficult to predict.
Payouts mostly vary depending on these two factors, plus how much luck we have in the pools we are mining in:
1. Your payouts may decrease over time because the lower the BTC drops versus USD, the higher your maintenance fee will be, in practice. This is because we charge a fixed maintenance fee in USD (new contracts = USD 0.00028 per GH/s per day), but we deduct it from your payout in BTC.
2. Also, it may happen that due to the lower payouts, the global interest in mining BTC diminishes. This would mean a decrease in the mining difficulty, which will also have a positive impact increasing your payouts. Find a difficulty evolution graph here → https://bitcoinwisdom.com/bitcoin/difficulty
Again, if difficulty raises, your payout would decrease.
In any case, none of these factors depends on Genesis Mining, nor can we foresee how are they going to evolve in the near future.
So, therefore, we recommend all our clients to do their own research and do their own profitability calculation. For example, you might want to have a look at http://www.coinwarz.com/cryptocurrency. Please note that the website is an independent source of reference and not related to Genesis Mining in any way. Just set on sha256 the GHs and set Watts and $/kWh to zero - the result will be estimated and without any fee.
Just keep in mind that returns are not guaranteed or may not even be accurate. And any calculation is the result at one moment in time.
For me, reinvesting the payouts to hashpower upgrade is the best way to do. See also: https://steemit.com/bitcoin/@encryptcy/genesis-mining-bitcoin-and-ethereum
Promo Code: twfY1S
(3% discount on every purchase of Genesis Mining offers)
Thanks a lot for this post
I was thinking few days ago to open an account with them but i saw many reviews saying that it is not profitable like in the past
good thing I was hesitating
if you are going to signup for bitcoin mining, i suggest you take at least 10 TH/s.
yes ..if I want to see some money and not 10$ a month
10TH/s cost thousands ...and if i would spend this money i would prefer to get some more BTC or other crypto coins that would provide me bigger gain in shorter time
Well, if you're good in trading, that would be better than mining.
Mining with Genesis is for people who are looking for a defensive way of investing in cryptocurrencies.
I agree ...thank man :)
not at all.. to the moon!
I would not recommend Genesis mining. There is a lack of transparency from them. When you compare the payouts from mining calculators to what you receive. Genesis is under what other 3rd party mining calculators estimate. Note, that the mining calculators also have the most current information for difficulting and block reward and there is a significant difference between the calculators and the actual payouts from Genesis.
good explanation. i was wondering myself why my payment differs from my mining results.
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 for ETH at 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! I followed you too :)
that's great! thanks man. happy mining.
You got it! Thanks you.
you're welcome man..
Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://www.genesis-mining.com/customer-service
what do you think about moneros increase in difficulty?
https://www.coinwarz.com/difficulty-charts/monero-difficulty-chart
according to the chart, payouts in monero mining should be increasing as difficulty decreases lately.
It hasn't come to my mind yet to invest in monero, sorry i have less idea about how it's going on. But, the basic idea in cryptocurrency mining is: the higher the difficulty, the lesser the rewards
nice find!
good that you share this info.....thanks....a lot of newbies dont have any idea why payout is decreasing......
btw im with GM since Nov.2016 and no complaint(apart from one-STEEM mining still not working after a month and i dont get any answer back...)i think its a stuff up......
happy mining
great man,, if happened u invested a lot of hashpower in BTC and ETH,, you'are a millionaire now eheheh :D Congrats! Cheers!
thanks mate...i wish.....but its looking good.almost break even....so the fun begins very shortly......
and btw happy mining.....
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thank you!