Hello all crypto enthusiasts :)
A report.
In the following post I will try and provide my experience with #Genesis #Mining - #Etherum mining contract as transparent as possible.
Previously I have also added a short intro. Check it out for a details.
Lets get to facts
Total investment ~7200 #USD
Date 13/06/2017 ~ 20 #ETH
Contract for 2 years
Hash power allocation
At first, I have allocated 75% on #Etherum, 25% on #Zcash, but after ~1 week, allocated full on #Etherum.
Returns
The returns are sent to my #Freewallet account, thus they will get stashed above my previous balance. - until 8 of August, when switched the returns and some #Eth to #Jaxx, since #Freewallet showed some issues.
I am still using #Freewallet for the #Monero wallet since #Jaxx has not yet integrated it.
Genesis mining aims at giving payouts on a daily basis. These should appear in the #payouts section of the account.
In the following screenshots you can see the #ETH transactions I have received in the #JaxxWallet since 30 Aug 2017. All previous transactions are covered in the previous post.
Total since last post = 5,09011102
+ 6,325118947 #ETH (calculated in previous post)
= 11,41522997 #ETH (== ~15 000 $)
From the mining payouts section (on-site-payouts below) of the last days it can be seen that some of the ETH were not yet received (they are aware of the delays) but also transactions are not being sent... so... waiting on that...
Their approximation
Conclusions
As it can be seen in the transactions, the return decreases exponentially from 0.14 Eth/day to 0.03 Eth/day in ~7 months
I have received ~half of the investment in 7 months - This looks good, but judging by the way the payouts decrease, i do not expect to have my ~20 Eth investment back at the end of the contract.
Yes, mining difficulty increases over time, but still...
I have learned that genesis mining brings you a small return compared to just hodling..
e.g. of other investment:
Dash: 30$ nov 2016 -> 391 $ Genesis-Mining
30$ nov 2016 == 3 Dash -> ~3000 $ #Hodl
Nevertheless, if i wanted to pay with the card, directly in USD, this would have been worth it since the sum has doubled in 7 months. Of course this is due to eth price increase, but still...
Thanks.
If you still want to buy some hash power from #Genesis #Mining feel free to use my referral to get a 3% discount on your purchase, and also give me some small amount of hash power:
Please ask any related question :)
Oct