Genesis Mining: Long-time review

[tonygal]

New data (from 2 days ago):

Income after 22 days: 0.18061579 BTC
Percentage of ROI: 9.66 %
Estimate days to breakeven (total): 227
Estimate days to breakeven (remaining): 205

and, as usual..

Again, last two figures are an oversimplified calculation and I do not expect them to be accurate. Not
accurate at all. Please please with sugar on top (I know your fingers are itching hard to hit the keyboard),
please refrain from telling me that I forgot rising diff, changing exchange rate etc. No, I did not forget about that!

[1714946501]

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[1714946501]

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[1714946501]

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[BitcoinPanther]

New data (from 2 days ago):

Income after 22 days: 0.18061579 BTC
Percentage of ROI: 9.66 %
Estimate days to breakeven (total): 227
Estimate days to breakeven (remaining): 205

and, as usual..

Again, last two figures are an oversimplified calculation and I do not expect them to be accurate. Not
accurate at all. Please please with sugar on top (I know your fingers are itching hard to hit the keyboard),
please refrain from telling me that I forgot rising diff, changing exchange rate etc. No, I did not forget about that!

This is one good data gathering on how cloudmining works, this is kinda interesting since it is not in form of Bitcoin instead  Dash.  Instead of saying something gibberish about cloudming, a good representation of day to day data about the profit and possible ROI is great.  I can say, this one will be a good reference to others on how a legit cloudmining works.  Cloudmining is mostly hated by most of members here, if this turns out great then probably their opinion about cloudmining will change.

[tonygal]

Sadly, the exchange rate crashed a bit. So I'm not too happy with last week's performance.
But we'll see...

Income after 28 days: 0.22463903 BTC
Percentage of ROI: 12.01 %
Estimate days to breakeven (total): 232
Estimate days to breakeven (remaining): 204

as usual, guys..

Again, last two figures are an oversimplified calculation and I do not expect them to be accurate. Not
accurate at all. Please please with sugar on top (I know your fingers are itching hard to hit the keyboard),
please refrain from telling me that I forgot rising diff, changing exchange rate etc. No, I did not forget about that!

[death69]

NIce to see those review. But be careful while investing your money in cloud mining because they can turn into a scammer anytime that they want. Try to do something which is more proper and you can earn good money with that

[pixie85]

I think you'd get similar results if you bought Bitcoin directly. You have over 200 days before you start earning anything with them, that's really a long time for a volatile cryptocurrency. If the price crashed you wouldn't be able to sell to cut your losses and would face like 400+days to ROI. Not worth the trouble IMO.

[tonygal]

I think you'd get similar results if you bought Bitcoin directly. You have over 200 days before you start earning anything with them, that's really a long time for a volatile cryptocurrency. If the price crashed you wouldn't be able to sell to cut your losses and would face like 400+days to ROI. Not worth the trouble IMO.

What is your aim, mate? Just to post something, no matter what, no matter if it makes sense?
You apperantly didn't even bother to read through my thread. "You'd get similar results if you bought Bitcoin directly" indicates that
you didn't do so. I started with bitcoins, and I'm mining dash not bitcoins.
So if you post recommendations for me what I should have done better without knowing what I did at all, I hope you're not surprised if I just
ignore your recommendation.

[tonygal]

Some idiot came up with the idea that my calculations are not accurate because I get referral earnings
without disclosing them here. This is, of course, crazy bullshit only aimed at discrediting me. Only earnings
based on my initial investment are included in my calculations, nothing else!

So, now I'm just curious what will be the next crazy accusation

[Slow death]

Some idiot came up with the idea that my calculations are not accurate because I get referral earnings
without disclosing them here. This is, of course, crazy bullshit only aimed at discrediting me. Only earnings
based on my initial investment are included in my calculations, nothing else!

So, now I'm just curious what will be the next crazy accusation

Haha ha ha ha

Each person has their own opinion.

It seems that everything is going well for you... What made you choose DASH?

[tonygal]

It seems that everything is going well for you... What made you choose DASH?

I just calculated what would have the shortest ROI time. Btc mining looked really bad with GM,
Litecoin a bit better (but here hashflare has the best offer), but Dash was just superior.
And, maybe more importantly, I really like the diff chart of the last 6 months. Looks really
reasonable, no crazy jumps of 35% like with bitcoin mining. Check it out:
http://www.coinwarz.com/difficulty-charts/dash-difficulty-chart

[fitty]

NIce to see those review. But be careful while investing your money in cloud mining because they can turn into a scammer anytime that they want. Try to do something which is more proper and you can earn good money with that

Yep. Although Genesis-mining is still paying until now. I don't see it profitable since it will take 1-1 1/2 years before you can get your profit. The daily return are so low and I am not sure how long this cloud mining company will last. But, I am not saying that Genesis mining is a scam one. Its just so long before you can get your ROI. If you invest that on other investment, in jutst 2-3 months you can get back your investment.

[brobbel]

I doubt about it, you could have more profit by holding your coins in your wallet, that is a fact. But looks you want to make an experiment, let's see.  

Bullshit! Big bullshit!! That is your personal, subjective opinion. Might be the outcome, might not. This is what drives me crazy
about this forum. Many people state their opinion as facts. Why can't you just say "I think you could have made more profit by.."?
I don't say "I will make big profit, period. fact. shut up.", I'm honest in that I can't look into the future. Is it asked too much of
you guys to behave in a similarly reasonable way?

1. There is a chance you will never reach ROI. In that case "holding your coins in your wallet have more profit".
2. There is a chance you will reach ROI. In that case, even if it is 1 satoshi more than ROI, you have more profit than holding coins in your wallet.

And then: we are a bitcoin forum. So we think bitcoin (or better: cryptocoin), isn't it? Then  it is impossible to make profit holding coins in your wallet. Because 1 BTC will be 1 BTC even after 100 years waiting. And 1 DASH will be 1 DASH.
Only when you think fiat, then it's another story - but even then: see #2

And your experiment will show if it is #1 or #2. (I'm afraid there is a big chance of #1, based on own experience, but still all contracts are running, so we have to wait)

[joromz1226]

Hi folks,

I decided to give Genesis Mining a try. I did my maths, and I figured out that X11 (Dash) has the
best chances to make some profit right now. In order to let you participate in my success/loss (I hope
for the former ) and to keep track of the performance of my investment, I will update this thread
regularly. But first the entry facts:
Start: 14 April 2017
Purchased: 500 MHs X11 Mining power for 1.869 BTC (2182 $ at the time of purchase)


If you want to support me, please go to https://www.genesis-mining.com and use my coupon code: wf9D3m
With this code you will get 3% instant discount, and on top of that I will share 50% of my affiliate bonus with you!
Just use the code and write me a message within 10 minutes containing
your BTC address. Be aware that it can take some days until the bonus is
credited, usually 6 days if paid with BTC and 32 days with CC.

Disclaimer, necessary because all the smart asses, trolls and attention deficit disorder victims around:
I do not endorse GM. I do not recommend joining them. Do your own calculations. It is an experiment I
am willing to conduct, and a very risky one indeed. If someone else decides - after making thorough research
on his own, in adult age and living in a free country - to try it too, I offer to share my referral bonus with
him. That's all, my offer is not to be mistaken for a recommendation to invest in GM.

I read a lot about in cloud mining sites, and most of what I had read was negative feedback from the community here in the forums. And there are  few individuals supporting cloud mining site that there is still legit and that is genesis mining, that was according to them. But I'm not sure if that is true. But honestly, I don't want to try to invest in it, due to I don't want too risk my capital which I am not sure to get back my roi, it is much better me to do trade in the exchange were I can maximize my risk.

[arwin100]

Hi folks,

I decided to give Genesis Mining a try. I did my maths, and I figured out that X11 (Dash) has the
best chances to make some profit right now. In order to let you participate in my success/loss (I hope
for the former ) and to keep track of the performance of my investment, I will update this thread
regularly. But first the entry facts:
Start: 14 April 2017
Purchased: 500 MHs X11 Mining power for 1.869 BTC (2182 $ at the time of purchase)


If you want to support me, please go to https://www.genesis-mining.com and use my coupon code: wf9D3m
With this code you will get 3% instant discount, and on top of that I will share 50% of my affiliate bonus with you!
Just use the code and write me a message within 10 minutes containing
your BTC address. Be aware that it can take some days until the bonus is
credited, usually 6 days if paid with BTC and 32 days with CC.

Disclaimer, necessary because all the smart asses, trolls and attention deficit disorder victims around:
I do not endorse GM. I do not recommend joining them. Do your own calculations. It is an experiment I
am willing to conduct, and a very risky one indeed. If someone else decides - after making thorough research
on his own, in adult age and living in a free country - to try it too, I offer to share my referral bonus with
him. That's all, my offer is not to be mistaken for a recommendation to invest in GM.

I read a lot about in cloud mining sites, and most of what I had read was negative feedback from the community here in the forums. And there are  few individuals supporting cloud mining site that there is still legit and that is genesis mining, that was according to them. But I'm not sure if that is true. But honestly, I don't want to try to invest in it, due to I don't want too risk my capital which I am not sure to get back my roi, it is much better me to do trade in the exchange were I can maximize my risk.

Better for you to close the idea to invest on any what so called cloudmining sites out there since eventhough they have been called legit company still the profits genarated unto their investors is pretty much low and the good thing here is your doubting so listen to your god feel since theirs no good things well happen unto us their.

Better stay on trading site and focus frequently on the coins you want to trade since you can earn on that more better on cloudmining.

[tonygal]

Ok guys, new data. Could look better, but I'd say I'm still on track.

Income after 37 days: 0.28369165 BTC
Percentage of ROI: 15.17 %
Estimate days to breakeven (total): 243
Estimate days to breakeven (remaining): 206

Please, read this before you post:

Again, last two figures are an oversimplified calculation and I do not expect them to be accurate. Not
accurate at all. Please please with sugar on top (I know your fingers are itching hard to hit the keyboard),
please refrain from telling me that I forgot rising diff, changing exchange rate etc. No, I did not forget about that!

Please, also don't tell me that my days to breakeven increase. I figured that out, too, and I'm not
surprised by that.

[marketone]

NIce to see those review. But be careful while investing your money in cloud mining because they can turn into a scammer anytime that they want. Try to do something which is more proper and you can earn good money with that

I agree, but hope genesis mining is one of the good till now paying on daily but you are right there is huge risk involved in cloud mining. At the same time there are good reviews for genesis and bad reviews.

[tonygal]

Dash exchange rate still weak, diff increased considerably. Hope this will change for the better,
at least the exchange rate..
New data from today:

Income after 45 days: 0.32393143 BTC
Percentage of ROI: 17.33 %
Estimate days to breakeven (total): 259
Estimate days to breakeven (remaining): 214

[tonygal]

Hi guys, just to give you a small heads up: I didn't post last weekend because
I'm absolutely not happy with the exchange rate, so I didn't exchange to BTC yet,
so I don't have new numbers. I plan to exchange all the mining revenues from 2 weeks
this weekend! I'll report then!

[fistfullofbtc]

i replied on another thread.
I bought a dash mining contract in march i think, cost 475 dollars. 100 m/hs

so far payouts total.

76 payouts totally 2.13 dash

at current dash rate $111, so far $251  which isn't bad really for 10 weeks mining. ( i sold  at 135 dollars so about $300 dollars)

Daily payout is about 0.02 i think this will drop and will mining rate make my stack back in another 10-12 weeks hopefully, so not as good investment as thought but seems to work for me.

how come you convert to btc why not get a payout in btc, or hold dash?

[tonygal]

Hmm, good point.. I didn't select payout in BTC because I want to react flexibly to
changes in the exchange rate. Like right now.
I do not keep the Dash because I still acquired a reasonable amount long time ago,
and that is really all I want as a stake in Dash.

Then good luck with your mining! I think the same now, not a great investment
but should ROI eventually. Plus a little profit. If (and thats a crucial if) GM holds.
My main motivation behind this thread is now to prove all these ignorant ******s wrong
who always say "it is impossible to roi on cloud mining"

[Images21]

Good luck with your investments. I think you can earn more by just investing in Safedice or maybe invest your Dash in Crypto-Games.