Cryptocurrency mining - Genesis Mining - Opinion
Hey cryptomaniacs, due to the shortage of GPUs, people are more and more looking into options of "cloud mining". I bought myself at my crypto-beginings a GM mining contract for BTC (the unlimited one).
I personally see a potential profit in this particular contract, but only if BTC price will stay, or grow up. However, the profit is visible after the first year of mining as the ROI on the contracts due to the crazy "maintenance" fees is roughly one year.
I would suggest you to invest the money and buy a decent looking cryptocurrency and this article is not suppose to encourage you to buy GM contract. However, if you are about to buy one and try your luck, feel free to use my affiliate code "KkWgTe" (so I might get some profit at the end :D )
Agree your opinion, i have invested to genesis mining myself and the key variables are 1) the difficulty of the coin you are mining and 2) the market price of the coin. Since my contract is about a month old, the eth per day is getting smaller and smaller. But at the same time, we see the gpu price is going up, if the price is too high, cloud mining maybe a good choice afterall.
i mean, with the BTC contract which is "life-time", I see a potential profit, but thats for my particular contract just few cents per day. It would be better, if BTC would shoot up to 10k :) Then, I would call it "profitable".
Yes, your correct.. I am learning that the only people making money on Genesis seem to be the ones getting other suckers to sign up..
yes...but I hope that this article is read as a warning not to spend your money on that... however, if you want to do so - "here is my affiliate code" :D