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This is my review after upgrading my BTC mining to This 1 ths bitcoin mining contractors is based on my 1 ths bitcoin mining contractors and results thus far with Genesis Mining. This post is not meant to be investment advice. Your results may vary based on the many factors associated with cryptocurrency mining contracts. This post is an update to my " Genesis Mining Review: My 7 Months of Mining " post made 7 days ago. Bitcoin mining will continue until the number of Bitcoins reaches 21 million.
It is estimated that the last Bitcoin will be mined in the year The Bitcoin mining contract offered by Genesis Mining is a lifetime contract. Bitcoin halving events occur everyblocks, roughly every four years.
I was Bitcoin mining during the last Bitcoin halving. Yes, my payout did get cut in half but it recovered when the price of Bitcoin rose. I have been mining with Genesis Mining since June Mining with Genesis has given me a consistent daily income stream.
And that is my goal to have a consistent income stream. I initially started Bitcoin mining at Genesis Mining with 0. After about 7 months at this rate to assess the viability and reliability of 1 ths bitcoin mining contractors MiningI decided to upgrade my hash rate.
Their upgrade purchase gave me another 0. The following chart shows my last six payouts. Created Using MS Excel. The past six BTC payouts since upgrading to I will 1 ths bitcoin mining contractors to 1 ths bitcoin mining contractors the payout consistency. Of course the next halving event will reduce the BTC payout. Based on these statistics I estimate I will recover my initial investment in days or 20 April which is well before the next halving event.
The following chart to examines the long term potential payouts. I used the following assumptions:. As you can see if the price of BTC doubles every four years the payout 1 ths bitcoin mining contractors USD per day is a repeating pattern that resets after each halving event. I will keep you posted on my progress. If you are interested in learn more about Genesis Mining then click here to visit their website.
I buy my Bitcoins through Coinbase. For me, buying Bitcoins through Coinbase is fast and convenient. Bitcoin Block Reward Halving Countdown. If you like this post, you can upvote, follow, share, and re-steem this post.
AFcBhU Let me know about it and i will use yours in return: I have added your code to my list. I just bought a 2 year Ethereum contract with your code Paid in Dash 0. Have a great day and remember you are also on my rotation list.
I will upgrade soon I am currently upgrading my X11 contract. Look for another upgrade using your code in about a week. I am now upgrading X11 everyday for as long as it is available. You should get a confirmation soon. I have to wait? Only Ether and Monero can be mined. From time-to-time Genesis Mining sells out their capacity in a mining contract. Normally it takes them weeks to build out the infrastructure that allows them to sell more hash capacity.
Only one i trust besides Genesis. Looking forward for you to return the favour, thanks. I just did the same with your code for a ETH upgrade: Can you give everyone 1 ths bitcoin mining contractors update on your performance with Genesis Cloud Mining. I would like to hear how your doing now that 6 months has past since you initially wrote the article. Is it still profitable? Here is my last update: Genesis Mining Review 7: There was a week where Genesis Mining postponed payments due to an intrusion by a hacker.
Payouts have resumed and from what I am seeing, the Genesis Mining payouts are catching up. Just based on my payouts, I can imagine Genesis Mining daily payouts are in the millions of dollars. If I were paying out that much, I would want to do a careful audit too before distributing the payouts. They ran out of X11 hash power to sell, but it should be available again in the near future. I have an Ether Mining contract s with Genesis, but do not think I will break even.
This is why I do not recommend those contracts. I do not think that will happen. At my current rate of return, I will break even on those mining contracts well before the next BTC halving event. Part of it has to do with the difficulty level. The difficulty level is 1 ths bitcoin mining contractors factor in determine how hard difficult it will be to come up with the next block in the block chain.
That is my extremely basic understanding. Here is a website where you can see the "difficulty level" for different crypto-coins: Thanks for the update. I still feel there is much opportunity to lose money if conditions are not favorable all the time. Do you know what the time decay looks like on a 2 year contract. For example, how much do daily payments drop on the last month of the 2 year contract vs the first month on the contract?
I'm still trying to understand why 1 ths bitcoin mining contractors mining is not a gamble and a good way to lose money in uncertain market conditions. Any additional insights by the Steem community would be very helpful for me to better understand how cloud mining works.
I have added your promo code to my rotation list. My rotation list is getting rather long, it may be a bit of time before I get to your code.
You should be getting a confirmation soon. I purchased it with BTC so it may take a bit of time to clear. Looking forward to keep upgrading with you! Look for another upgrade by myself using your code in about a week. A bit late in posting this They will make current tech obsolete. Hey joshwaa i just used your code 1 ths bitcoin mining contractors a upgrade, mine is: AFcBhU Happy to keep exchanging and sharing codes: So if you use my code: Just let me know.
Genesis could be bogged down with orders. As of this time, I have not gotten an confirmation yet. Hopefully, they are just backlogged. I just started mining today, you are third in line on my list.
I will be using your code pretty soon. You can use HashFlare to get a mining contract. Their mining contracts are by the way the cheapest around ; Heres the link: Please use my code XouixF as well. I have added your code to my rotation list. I only upgrade my BTC mining contract. I am still debating whether to purchase more upgrades at this time or wait. My rotation list has 29 codes in it. It may be some time before I get to your code.
It all depends on the availability of BTC contracts from Genesis.
