A couple of days ago Genesis Mining have resumed their Dash X11 Mining Contracts, and I've noticed many Steemit users posting about their upgrades, promoting it, sharing their referral 3% discount codes, etc - that's why I decided to make this post.
In April, 2017 I have invested $20'000,00 in Genesis Mining myself on X11. I have been following the Dash price/difficulty rate very attentively.
What I have noticed in JUNE 2017 was that my daily payouts in Dash DECREASED by 3 times.
Then I opened the Dash Difficulty Chart, and that's what I saw:
End May Difficulty: ~100k
End June Difficilty: ~270k
It is just huge growth! I couldn't believe my eyes!
I have 4000 MHz, which used to bring me 1.2 DSH/day. This week I have been receiving as low, as 0.44 DSH/day, which is a dramatic decrease!
The current Dash price is $169 USD.
This means, that if we buy a Contract with 2000 Mhz, for $9000, we will receive our money back in 7.7 months, if the difficilty won't rise faster than the price. But it will.
From 11/06/2017 the Dash price hasn't gone up, while the difficulty HAS!
If this trend continue (price holds, difficulty continues to rise), we will not receive our money back after 7.7 months, like we've calculated above. We may have our returns in a year or more, while just buying some of the coins may bring you up to 100% A DAY.
I'd suggest that Genesis Mining users to consider that!
IMO, Genesis Mining X11 may only be really profitable for people like TrevonJB / Craig Grant, who have thousands of followers / referrals, that bring them 8% from their referral purchases... So, I'd suggest not to invest in Genesis Mining, unless you know for sure, what you are doing, although GM is absolutely not a scam.
Good luck with your investments!