fairglu
Legendary
 Offline
Activity: 1100
Merit: 1030
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March 09, 2015, 12:57:16 PM |
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So what am i missing here ? and what can make it profitable ?
Both a rise in BTC/USD exchange rate and a gradual lowering of the daily fee (ie. improved hardware efficiency passed on to customers) could make it profitable. But a rise in BTC/USD rate would likely make buying BTC directly more profitable in a shorter term, with less risks (if BTC value halves, you will be able to sell it for half if you bought directly, but mining contracts will be worth nothing). So yes, mining is a tough proposition. It's more a support of the industry and its infrastructure at this point. |
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"Governments are good at cutting off the heads of a centrally
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netmonk
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March 09, 2015, 01:24:42 PM |
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I also see a point for b2b.
What i mean is that for a owner of company living in a high tax country, buying mining service with his company and getting btc back to his own wallet is a way to evade some money from his company without having to pay tax he would in normal salary process.
But investing 14000$ for a benefit of 2400$ at the end is a very low return.
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flyingplows
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March 09, 2015, 09:13:52 PM |
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I also see a point for b2b.
What i mean is that for a owner of company living in a high tax country, buying mining service with his company and getting btc back to his own wallet is a way to evade some money from his company without having to pay tax he would in normal salary process.
But investing 14000$ for a benefit of 2400$ at the end is a very low return.
i agree the profit is low, thats why i dont invest anymore here, but maybe when they open x11 mining things will change, but no news on that for a very long time (well for a long time in crypto at least..). another way how you can increase (or decrease  ) your roi is to keep assigning mining power to different coins and mine the most profitable coin at that moment, but then again they themselves do this as i understant and you could hardly beat them by decision making on what is profitable  either way if they want my money that need to do x11 asap or lower the price significantly.. if they expect us to base our investments on a hope that btc price will increase, we can just better buy the coins and hold.. |
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birdcat90
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March 10, 2015, 08:25:36 AM |
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just bought new contract small but at least i can save some btc from gambling..lol
slow but not gone in instant was my goal,,hope payout can improve
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Minimaxa
Newbie
Offline
Activity: 42
Merit: 0
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March 10, 2015, 10:54:22 AM |
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So when is scrypt mining going to be reactivated? never...
And what is happening with all that scrypt hardware everyone payed for? collecting dust or has it been sold off...
Bitter still? maybe...
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IanFoxley
Legendary
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Activity: 910
Merit: 1000
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March 10, 2015, 01:25:40 PM |
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So when is scrypt mining going to be reactivated? never...
And what is happening with all that scrypt hardware everyone payed for? collecting dust or has it been sold off...
Bitter still? maybe...
There is still Scrypt mining, I am mining Scrypt for example, but this is for the older contracts which were 1 year contracts which were available until around September last year, fees were included in the price. My contract was purchased 10 months ago and it will run out in another two months and will turn into a lifetime contract and I will then get a daily fee. Ian |
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dead_m92
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March 10, 2015, 03:54:58 PM |
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So when is scrypt mining going to be reactivated? never...
And what is happening with all that scrypt hardware everyone payed for? collecting dust or has it been sold off...
Bitter still? maybe...
There is still Scrypt mining, I am mining Scrypt for example, but this is for the older contracts which were 1 year contracts which were available until around September last year, fees were included in the price. My contract was purchased 10 months ago and it will run out in another two months and will turn into a lifetime contract and I will then get a daily fee. Ian Lucky Ian contract converts to lifetime just when its profitable again^^. |
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Rizla2345
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March 10, 2015, 11:36:34 PM |
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Seems a bit pricey but it´s still around and always pays out.
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Zeta0S
Legendary
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Activity: 1890
Merit: 1031
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March 11, 2015, 07:29:28 AM |
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Seems a bit pricey but it´s still around and always pays out.
And a really good payout today!!! |
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crazyivan
Legendary
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Activity: 1652
Merit: 1007
DMD Diamond Making Money 4+ years! Join us!
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March 12, 2015, 12:48:04 PM |
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They seem to be preparing something new. Any hints what this might be? Should we save our BTC for that?
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credo
Newbie
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Activity: 7
Merit: 0
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March 12, 2015, 01:52:40 PM |
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hello
my contract is 500 GH/s and i receive 0.00244 BTC daily ... its normal for this speed ?
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galdur
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March 12, 2015, 02:16:59 PM |
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hello
my contract is 500 GH/s and i receive 0.00244 BTC daily ... its normal for this speed ?
Yeah, it sounds about right for their pathetic payouts. Where are the guys who put hundreds of thousands of dollars into this hole ? There was one in January and then the recent one. Maybe they only report back here when they throw more bad money at it. |
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birdcat90
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March 12, 2015, 11:30:31 PM |
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do i need to wait for buy contract or not?
because the payout not too good right now, also will wait for btc price to surge before buy it..more cheap maybe
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galdur
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March 14, 2015, 02:55:08 AM |
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hello
my contract is 500 GH/s and i receive 0.00244 BTC daily ... its normal for this speed ?
Yeah, it sounds about right for their pathetic payouts. Where are the guys who put hundreds of thousands of dollars into this hole ? There was one in January and then the recent one. Maybe they only report back here when they throw more bad money at it. This is not right. GM is one of the only Cloudmining service profitable. Imagine if my contract is still running in 3-5 years. I sure will be in profit. Difficulty doesn't increase a lot these days and contract can run a long time... If their anemic yield suits you, fine. Good for you. To each his own. Best of luck, g |
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birdcat90
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March 14, 2015, 11:37:47 PM |
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i hope GM still running after 5 years...
so i can hit ROI and of course some profit too...we know that bitcoin will stop mined until 100 years later right?
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birdcat90
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March 21, 2015, 12:34:33 AM |
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well, almost all investment has long term view...instant return?? well go for ponzi..lol..it will turned scam.. mining has great potential of profit, if we stay patience.. |
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IanFoxley
Legendary
Offline
Activity: 910
Merit: 1000
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March 21, 2015, 07:58:30 AM |
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Anyone finding the Genesis Mining website slow to access this morning? It is taking ages to log in.
Ian
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julian071
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March 21, 2015, 03:10:01 PM
Last edit: March 21, 2015, 03:20:18 PM by julian071 |
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Anyone finding the Genesis Mining website slow to access this morning? It is taking ages to log in.
Ian
Yeah, same here. Edit: probably not related, but Megamine.com is completely unreachable =( |
=P
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birdcat90
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March 22, 2015, 06:51:37 AM |
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maybe genesis mining update something on their website
its slow and nothing like before..is it time for x11 mod mining or regular maintenance?
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