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Author Topic: Genesis Mining Bitcoin Case Study  (Read 682 times)
dothebeats
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September 23, 2017, 03:57:27 PM
 #21

Is this for real? Even with 50TH/s you wouldn't break even for a year. Imagine how crazy is that? Also, instead of getting your profits, they will deduct a maintenance fee which you won't be having to pay if you have your own hardware. Worrying about electricity costs and hardware space? GPU mining is the best solution you can have if you really want to make mining your answer to your everyday expenses. Even with a mere 6-GPU setup, you will have breakeven in 2-4 months plus maximum control with real hardware.

How long have you been mining with them lol

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CaliforniaCrypto (OP)
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September 23, 2017, 05:33:53 PM
 #22

Is this for real? Even with 50TH/s you wouldn't break even for a year. Imagine how crazy is that? Also, instead of getting your profits, they will deduct a maintenance fee which you won't be having to pay if you have your own hardware. Worrying about electricity costs and hardware space? GPU mining is the best solution you can have if you really want to make mining your answer to your everyday expenses. Even with a mere 6-GPU setup, you will have breakeven in 2-4 months plus maximum control with real hardware.

How long have you been mining with them lol

I do have a home mining rig, and no you dont reach ROI in 2-4 months, unless your electricity is free. I live in SoCal with .16 electric cost. Im pretty sure that ill break even in less than a year, but thats what the video series is for. I already know what fees they deduct from my payments and have calculated those into my  ROI projections.
Catmony
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September 23, 2017, 06:23:13 PM
 #23

I think you have to wait atleast 8 months or even more because mining difficulty gonna shoot up soon after november hardfork and by that time price might also get dumped a lot because of panic in the market.

What I suggest you is that you should store all those BTC if price will go lower than $3k in near future and you can exchange BTC which you have got last month into USD so that you will not loss anything in terms of fiat value.

Good luck, However I will never invest in any cloud mining packages.
CaliforniaCrypto (OP)
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September 23, 2017, 07:38:19 PM
 #24

I think you have to wait atleast 8 months or even more because mining difficulty gonna shoot up soon after november hardfork and by that time price might also get dumped a lot because of panic in the market.

What I suggest you is that you should store all those BTC if price will go lower than $3k in near future and you can exchange BTC which you have got last month into USD so that you will not loss anything in terms of fiat value.

Good luck, However I will never invest in any cloud mining packages.

The mining difficulty should go down after the hardfork as some people will split off and mine the new coin, if it happens. When Bitcoin Cash happened difficulty went down slightly.
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