Genesis mining day 19 - 32% DECREASE!!! by wilkinshui

chainbb-general · @wilkinshui · Jun 16 '17

$56.05

Genesis mining day 19 - 32% DECREASE!!!

It is day 19 on my 10mh ETH clouding mining (investment: USD 291), as the difficulty continues to increase, the unit per day has decreased from 0.0060 to 0.0058.

![Unknown.jpeg](https://steemitimages.com/DQmUeNY1WpBKmEftV91FKvh1xu8toyi9eLk1aqAUvrvupr3/Unknown.jpeg)

Even the ETH price bounce back to mid 300, eth/day has decreased again (from 0.0085 to 0.0058 - A 32% decreases in eth / day!!) 

Finger cross that it will still time for me to break even and at least to get some return back after the contract ends.

For the current projection, I make

15.99% return for capital.

breakeven period is around 3.96 months

This assumes:

the price remains unchanged
difficulty remains the same

Therefore the projection is likely to be overestimated but good that the contract is for 2 years and therefore still plenty of time to make up.

👍 snowflake, someonewhoisme, freeyourmind, roelandp, rok-sivante, good-karma, robrigo, minnowsupport, xeldal, shenanigator, biophil, sharingeverybite, aggroed, suerisue, claudiop63, feruz, crawfish37, vandalizmrecordz, lexiconical, elgeko, dhrms, coinhawk, johnnwong, krystle, fisteganos, raymondspeaks, banjo, rouketas, lances, ozymandias, wilkinshui, fatpandadesign, philipnbrown, goingmobile, isaac.rodebush, bounties, samstickkz, readmore, reisman, steempoll, whatsupz, demo, esteemapp, codingpanda, tipping, choogirl, irawandedy, whoknew, agentsofmars, jeanelleybee, fatboyjames, omarrium, ethical-ai, markwhittam, jhermanbeans, tizswa, ehiboss, lenadr, steemian69, tinytaruen, nanosesame, oluwoleolaide, musicolo, mysteem, and 17 others

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@padreee · Jun 16 '17

Im so sorry for you , i pray!

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@wilkinshui · Jun 16 '17

thanks it is not as bad as i describe, but i definitely need that :)

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@steemian69 · Jun 16 '17

$0.06

love how you keep calculating and updating your stats on a daily basis, one thing i didn't understand though what is return for capital ?

👍 vandalizmrecordz, steemian69

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@wilkinshui · Jun 16 '17

$5.79

Thank you for your comment, i am just trying to make sure people invest with more informed decision. I saw many people saying alot of good thing and then just give out the referral code. Something i dont think is right. 

Return capital is = market value today / my cost of having the contract

So say i am making 16% of my initial cost : 46.56/291 = 16%

So today i have 46.56 worth of eth vs my inital cost of 291

👍 good-karma, xeldal, feruz, vandalizmrecordz, isaac.rodebush, esteemapp, bounties, reisman, steempoll, demo, tipping, irawandedy, steemian69, mysteem, carlos-cabeza, thecrazygm, thedailyroto

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@inspiringty · Jun 16 '17

Thanks for the update. I bought into genesis mining too but yeah horrible return. Hoping to break even as well.

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@wilkinshui · Jun 16 '17

We are in the same boat, finger cross for both of us :)

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@thailandlife · Jun 16 '17

I just seems to me that I don't see anyone really making money with the cloud mining.  I see all the posts and YouTube videos of people making small profits then reinvesting them back into the cloud to up their hashing power. When do you really make money that can be used for things? Maybe it's just me and being narrowed sighted.

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@alphacore · Jun 16 '17

unfortunate trend continues...

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@wilkinshui · Jun 16 '17

$5.73

Yeah definitely. As a long term bullish view, my hope is to have eth drops when difficulty dont go up so fast. Now it is moving a total opposit way. Price go up so fast and so as the difficulty. My rate of return is inflated by the short term movement of price only.

👍 good-karma, xeldal, feruz, isaac.rodebush, esteemapp, bounties, reisman, steempoll, demo, tipping, irawandedy, mysteem, carlos-cabeza, thecrazygm, thedailyroto

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@steemitboard · Jun 16 '17

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👍 nomoresjwbs

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@jjsolley · Jun 16 '17

Please keep updating me. I too bought an ethereum contract, but I did the 30MH/s for $869. This is great info, and I love the daily updates!

👍 wilkinshui

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@wilkinshui · Jun 16 '17

$3.41

Thanks man, i hope when you signed up for genesis mining on a eth contract, you would see you get help from reading my daily update such that you are making a informed decision. Since we are in the same boat now. Good luck for both of us :)

👍 good-karma, xeldal, reisman, irawandedy, carlos-cabeza, thecrazygm, thedailyroto

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@htliao · Jun 17 '17 (edited)

$3.27

That's the reason why I didn't buy the any cloud mining contract. It takes so long to get profit (or it never does when the difficulty soars) It's just letting yourself to be their sales to get the referral bonus and letting more victims in, that's just so bad!!!

👍 good-karma, xeldal, vandalizmrecordz, feruz, irawandedy, esteemapp, bounties, steempoll, demo, carlos-cabeza, tipping, thecrazygm, mysteem

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@vandalizmrecordz · Jun 18 '17

$0.08

Same thing happen with my unobtanium coin

👍 vandalizmrecordz

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@wilkinshui · Jun 18 '17

Sorry but what is unobtanium coin?

properties (22)