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RE: [ANALYSIS] Genesis Mining "lifetime" BTC Cloud Mining Contracts
Love the information in these posts. If your pessimistic about the BTC mining, are you optimistic about any other mining (such as the ether mining contract) or just pro buying the coins instead?
Hi, sorry for the late reply I was on a business trip for the last four daysi didn't have the chance to reply.
I think ETH mining looks bright for now, but I'll also make a detailed analysis on it considering the recent price changes and ETH mining protocol. -- stay in touch :)
I have 48.5mhs of the ETH contract on Genesis. I am using it to automine BTC (they mine the most profitable alt and convert to BTC), automine STEEM or ETC straight up (bound to go higher as ETH difficulty bomb makes mining impossible). This is giving me decent returns and I will make profits well before contract expiry.
My concern is **what happens to the contract once Vitalik & Co implement PoS **(later this year... hopefull 2018)??? Will Genesis honour the 2-yr contract and let us mine Alts?
I consider Genesis to be the leader in cloud mining and hope that the case is the latter. I'm betting on that and reinvesting in the ETH contract each week.
In the end, it depends on your timeframe and ability (to trade coins and grow your investment). I prefer to mine and accumulate for 2020 rather than investing $10k and riding the rollercoaster of BTC market to High blood pressure
mining on your own hardware is also an option. my old 280x and an amd cpu are still bringing in $150+ a month. Try minergate if you're tech averse