Genesis Mining Is Making Me SO MUCH $$$$$ by iamenglishtv

bitcoin · @iamenglishtv · May 26 '17

$7.41

Genesis Mining Is Making Me SO MUCH $$$$$

<html>
<p>&lt;iframe width="560" height="315" src="https://www.youtube.com/embed/9b4fj0PJUNA" frameborder="0" allowfullscreen&gt;&lt;/iframe&gt;</p>
<p>Can you feel the Satire?!</p>
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👍 thejohalfiles, robert-call, businesswri, iamenglishtv, chabuki69, wilx, misterbitcoin, nba05

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@robert-call · May 26 '17 (edited)

$0.18

ROI is usually 6-8 months. Plus you have to factor in the appreciation of the coins that you mine, or the capital gains when you mine a profitable coin and put the proceeds into a undervalued asset. True, It is a gamble. You are betting that the contract you choose remains profitable and the mining difficulty doesn't increase too quick. The best situation is that you ROI in 6 months, the coins you mine appreciate significantly, and then you can kick back and enjoy 18 months of essentially free daily income. You would need to allocate at least $500-$1000 to fully benefit.

👍 robert-call, iamenglishtv, bitcoinluxury, david6

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@iamenglishtv · May 26 '17

$0.18

So there can be a benefit right? I'm just wondering how to approach the darn thing. I got lucky and it said I have had over 4 sales that totaled over $2000 recently with my code that others used. But i have seen the 1.75 hash available to use, i figured i would get more unless it has to process those other payments. What your best strategy on how to get started?

👍 robert-call, david6

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@robert-call · May 26 '17 (edited)

$0.18

There is no real strategy to it. Most put in a few hundred dollars and give it a go. For example Ether was $7 earlier this year. If you mined 10 ETH @ $7 in January, now that $70 is worth $1800. Someone who bought a decent contract and held their coin probably ROI in a few months. Now they have their original capital back and will receive some sort of daily payment for the next 18 months. It's all just a speculation. Some will profit, others might not. Just don't speculate with more than you're willing to lose. One strategy is to buy a contract with a coin that has appreciated significantly, locking in the profits before the coin goes back down. For example I recently allocated 1,000 LTC into some Genesis Mining contracts. My cost basis for my LTC was $4 or $4000 total, now those contracts are paying me $4,500 per month. This may go down over time, but now I don't have to hold LTC and deal with the volatility.

BTW, when the contracts sell out , that only effects new purchases. Your existing purchased hashrate is unchanged.

👍 robert-call, iamenglishtv, david6

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3 replies

@businesswri · May 27 '17

WOOT! can't wait to get into the mining game :D

👍 iamenglishtv

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