Etherium is at 339.52 USD at the time I started this posting. This is great news for ETH miners. (Edit: it's already over 343 USD at the time of finishing this post.)
Above is a calculation if you buy a 2 year contract for 30 MH/S of Etherium Mining at $842 (with 3% discount code). I used this example because 30MH/S is when you start to get a better rate per MH.
The only thing that can affect mining is difficulty increases. However, at the rate ETH is growing...I believe it will be profitable. The best part is you can convert your Etherium Mining power and allocate it to STEEM directly in the Genesis Mining Interface. This means you get your daily payouts directly in STEEM!
Genesis Mining: https://www.genesis-mining.com/a/810583
Use the code eA75Ps to get 3% off any contract, even the minimum purchase.
You can use coinbase to buy BTC, ETH or LTC to use for purchases on Genesis-mining. This will allow you to get your daily payouts right away. Credit cards take time to verify...although your hashpower will be active immediately. I like to see my payments right away...so I always buy with ETH or LTC.
Coinbase: We both get $10 free BTC if you sign up with this link below
https://www.coinbase.com/join/590a9707042916080822d219
Feel free to ask me any questions in the comments. I'm here to help!
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Who here is in on Genesis-Mining? If litecoin contracts come back you best believe I am investing in those contracts hard!
Isn't difficulty increasing too quickly?
Well, that was a possible downfall to mining Etherium a few weeks ago. However, if you look at the recent rate of increase..the price is going up as fast as the difficulty. If this trend continues it would keep its profitability.
The question now would be if we think this upward trend in pricing will continue. With so many strong coins coming up under ETH, this will continue to pump up the value. So in my opinion, ETH will continue to rise over time. Usual corrections here and there will happen of course. But the corrections within the ETH price are so insignificant lately compared to the increases, I think everything will be fine.
This is my opinion.
Thank you for sharing this!
Genesis-Mining goes on to state that if ethereum mining is no longer profitable, they will transfer your contract to a different crypto currency. Win Win!
That's correct. Also, since STEEM is one of the options to have your mined ETH directly converted into, maybe STEEM will be an option to mine directly if ETH itself is no longer viable. Makes sense to me...but who knows? Either way, I feel safe investing in Genesis-Mining.