Should i buy genesis mining?

mining

#123

Yep i steered clear of these presales. Same concern as you, by the time they start, difficulty could blow through the roof with the introduction of 7nm chips coming in not long after


#124

There is a solar powered bitcoin mining company c0in.club
For those looking to help reduce the environmental impact of mining.


#125

…considering to join Bitclub, anyone have membership there and can share some thoughts on their packages? Seems you get a share from the mining pools and can re-invest the earning, 30% with the big package re-invest is mandatory…good thing is there is no wait time i think…
https://bitclubnetwork.com/


#126

ive been staring at this for a month.

the thing with the 30% re-invest, is you don’t actually get the 30% back. they keep it. consider it as the bitclub version of pool fees.

the thing with this is, is your gambling they’ll win the hashpower war. they have to keep adding hashpower for your share to be profitable, and the more people that buy in, the more your share gets diluted.

im not toally convinced ita a good deal unless you get referalls, so i havent jumped yet.

also i wouldnt buy the cheaper packages. the ‘re-invest’ option is even higher. 40 and 50% i think. id just buy the 2K packages,


#127

#128

:laughing: haha yeah that doesn’t help confidence.

ive researched it a fair bit, and while im not convinced enough to buy, on that article there are certain corrections as of today:

contracts are 1000 days now, not 600
your payout is dependant on how much hashpower they have in the total pool, so that guys results are not indicative ( up or down ) of what you will see.

i do agree that the 500 dollar pool is garbage. you have to buy the 2K pools to lower the ‘re-investment’ ( which they keep ) , and basically i think they do that on purpose to try and get you to spend more…

i like the idea in principal, that you buy a share and your BTC payout can actually go UP over time as they add hashpower. it is theoretically better than genesis/hashflare where your fixed hashpower loses mining power over time as the difficulty increases. im just not convinced on their execution of it.

im a curious guy, but not curious enough, yet anyway, to try this. if anyone does, please share your thoughts.


#129

actually heres something else i do know. sunny decree has mined 0.4 bitcoin in 150 days give or take, on a pool costing 3500 at the time. at that time, he could have bought 1.4 BTC with his money. so he has a long way to go to make his BTC back.

so on that pool, if you spent 3500 or good enough to 0.4 bitcoin today, youd theoretically see a BTC return in 150 days, IF they keep their hashrate increasing compared to the other pools.

its a gamble.


#130

Yes i got curious watching Sunny’s video. He mention that the hashpower will be like 10 times higher after Christmas so the contract should be much more profitable. But it is a gamble of course. There are so many parameters and as a user we cant control anything. Right now we can get like 0.33 BTC for the big package contract.
My Genesis is doing 0.0060 - 0.0068 daily so i cant complain :slight_smile: (right now)


#131

Bought Ethereum and Monero contract about 10 days ago, have not started yet, anyone has a clue what is going on? Send a support ticket a day after, but no reply. Makes me upset, I mean, not only am I missing out on the days, but also, it eats the days of my contracts.

Anyone knows whats going on?


#132

yes either you have payment problems or your order isn´t verified
you can click on your orders an see if it is “approved”


#133

Dont know about ETH but Monero contract is pretty bad unless you have big hash power?
Mine is only 500H/s and sometimes last i did not see payout for 2 weeks. Also the only payout when you reach 0.4 Monero which is like 2 months or more. I change the payout to LTC and i get a little daily now. Its much much better i think.
Support is non-existent. I have waited 4+ weeks for some ticket. They do get back to you but it takes a very long time.


#134

So you are mining Monero/cryptoknight, and gets paid in LTC?

No not big hashpower, but still, I have paid for it, so I want it to be up and running asap.


#135

Yes, all orders are approved and still they are not up and running!


#136

Correct, you can go to your “MINING ALLOCATION” and change it like this:

I’m getting roughly 0.01369291 LTC a day.


#137

If you paid with credit card it takes 30 days for the initial payments to be released


#138

I do that with my BTC contract. Otherwise it banks up a massive amount of micro BTC transactions which will then cost a fortune the day you send them back out of your wallet.

Litecoin is awesome for small transactions like mining


#139

Nope, I paid with BTC for the Monero and Eth contracts, and CC for the BTC contract


#140

All yo can do is lodge a support ticket then. Ethereum takes forever to pay out as the minimum about is quite high compared to the daily payouts, and I’ve heard of monero trouble before


#141

I don’t follow you, I know I shouldn’t withdraw small amounts of BTC as it will add up in a giant fee later, but it should not have anything to do with the initial payment for the contract, right?


#142

Ho Thomv, if you check the little reply icon, that particular comment was to Vampyren