Genesis Mining Review: My 7 Months of Mining
Genesis Mining has stood the test of time, consistently delivered payouts, and provided me great customer service. This is my review of Genesis Mining based on my experience during the past seven month of mining different cryptocurrencies including Bitcoin and Ether.
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Results from Seven Months of Mining
I have the following contracts with Genesis Mining
- Bitcoin, lifetime mining contract, 0.15 TH/s purchased for $65.67 USD
- Ether, one year mining contract, 18 MH/s purchased for $173.27 USD
- X11 (Using the X11 algorithm to mine Altcoins), two year mining contract, 15 MH/s purchased for $145.58 USD
Based on my returns thus far I project that
- It will take a total of 30 months to earn back my investment in Bitcoin mining, then it is all profit after that.
- I will not earn back all of my investment in Ether mining before the contract expires.
- It will take a total of 21 months to earn back my investment in X11 mining, then it will be 3 months of all profit.
Of course the amount of time to earn back your investment depends on the price of the cryptocurrencies being mined.
Changes at Genesis Mining Since I Started Mining
There have been some changes at Genesis Mining in the last six months.
Ways to Purchase Mining Contracts
Genesis Mining has added a few new ways to purchase mining contracts. You can now purchase mining contracts using:
- Credit Cards (VISA and MasterCard)
- Bitcoin
- Dash
- Litecoin
- Dogecoin
New Contracts
Genesis Mining has expanded the types of mining contracts they have. They currently mine
- Bitcoin (sha256 contract)
- Litecoin
- X11
- Ether
- Zcash
When I went to their website today, contracts available for purchase are
- Lifetime Bitcoin Mining
- 2 Years Litecoin Mining
- 2 Years X11 Mining
Customer Service
I have had consistent payouts from Genesis Mining. No problems in that area.
I did have the typical user problem where I locked my account when I did not type in my username and password correctly. Getting my account reset so that I could get back into my account was secure, fast, and easy.
Upped My Hash Rate
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Today I increased my hash rate for BTC mining. Why? While it does not provide me the fastest return on investment, it does provide me a long-term stream of income for as long as Bitcoin is mined. My time horizon is greater than the three years it will take to get my return on investment. And if Bitcoin increases, like I think it will, then the payoff time will be even faster.
Affiliate Program
Genesis mining has an affiliate program that gives buyers a 3% discount on the contract price and an increase in hash rate for the affiliate.
If you are interested in Genesis Mining
- Click here to create an account at Genesis Mining.
- Use the promotion code Q1MYO7 for a 3% discount on your contract purchases.
There is so much more information available at the Genesis Mining website.
@etcmike, by any chance you have an affiliate code for Genesis Mining! Ready to get some Dash contracts today, they have been extremely profitable. You have given me some support, getting a small upgrade under your code is the least i can do!
Thank you for asking for my code, it is Q1MYO7
Just cut-n-paste it into the promo code field when preparing to pay for the upgrade.
Have a fantastic day!
Steem on,
Mike
Upgraded Mike! Hopefully, I can reuse the code in the future again, didnt get to much this time but I tend buy a bit of mining contract over time, especially Dash Contracts. They are highly profitable, mostly the fact that X11 Miners arent around as much when compared to GPU's cards or ASIC Miners
Again thank you! It is greatly appreciated!
May I have your promo code to add to my rotation list?
I will upgrade my X11 contract using your code.
Have a great week!
Steem on,
Mike
Hi Mike,
You can add me as well in your rotation list. Once bitcoin mining is back I'm planning to upgrade my hash power.
Here is my code oID7jt.
Thank You.
Thank you!
I have added you to my rotation list. My rotation list is getting long. I plan to start upgrading again this month, but I do not know if I will make it all the way through my rotation list this month.
I will let you know when I use your code.
Have a good week!
Steem on,
Mike
Please use my code for genesis mining, I used yours for 1 TH of Bitcoin SHA256 mining ! my code is : 3klnx4
Thank you!
I have not received any notification yet from Genesis Mining today of sha256 purchase using my code. That's okay, they are slow in sending out notifications at times.
I just did a 5 TH/s BTC upgrade earlier today using another Steemian's code. I have added your code to my list of codes I use for upgrades. I will let you know when I use it.
Have a great weekend!
Steem on,
Mike
I just used your promo code to upgrade my BTC mining contract by 1 TH/s.
I bought it with BTC and am still waiting for the transaction to clear.
Have a great day!
Steem on,
Mike
Be careful and stay away from their so called lifetime "sketchy" BTC contract. I've made a detailed analysis in this post if you're interested.
As someone who recently lost $40,000 on a "traditional" business (restaurant) this past year, Genesis Mining gave me a new perspective. As of the time of this writing, the monthly profit on the most expensive contract, 500 MHs @ $14000 ($13,580) generates $2140 in profits which comes out to breakeven in a little over 6 months. However the mining calculator assumes today's prices ($270). If I hold them and trade them when they are higher, say $380, the profit would be $3013 which is 4.5 months. Once I recoup my original investment, starting the 5th month I can re-invest all or a portion of the proceeds into more hashpower or into mining another currency. I don't see anything going wrong here as long as the crypto currency market especially ethereum does not crash. And I believe crytocurrencies and especially ethereum are here to stay. So Genesis Mining is a no-brainer and I wish I had learned about this before "investing" $40,000 into a traditional business.
good comment! keep these up and u will defintly add value to ths community and keep earning on comments! $1 per comment is NOt unrealistic! i know peeople getting $2 and $3 per comment on AVERAGE1 eaning theyre usualy getting all sorts of $7 and $10 comments ! like @thejohalfiles and @gigafart !! You should learn from these whales and the places they hangout in their comments! go see the types of posts they upvote ancomment on!
I think you idea is not bad but there is something you have no know, it it that difficulty is going to increase and that means you are going to get less with the same mining power, and eventually that minnig power will be worthless. So if you have the money I would advise you to do the mining yourself and if then it is no longer profitable you can always sell it to gamers and get most of the investment back. Even if you dont know much with some reasearching you can set p your own mining rig even with overpriced video cards is good business. I hope my
For someone currently mining ETH using Genesis Mining I would like to tell you to slow your roll and about your proposed investment. You would make more money just buying a solid cryptocurrency and holding. I was like you and thought of the moon when I initially invested 2000 (thankfully not more like I wanted to initially) unfortunately no calculator currently takes into account the difficulty factor and how that affects your daily returns. I initially invested expecting a 200% return in the first year. With how things are going now, I would be lucky to make a 15% profit and my contact is almost done. If I had just held onto by BTC I would have almost doubled my money but now.
Couldn't agree more. I am investing all the money I can afford to lose into Mining.
The prices will rise for sure, and the ROI period will reduce. I am hopeful!
We are still at the beginning of a very nascent technology.
Great comment @tytran
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. Use o Código >>>>>> (((((( U5XWLu )))))) <<<<<< e ganhe 3% de desconto!
(((((( Mineração de Bitcoin ILIMITADA _ TH/s _ Mining Start 15.03.2018 _ ))))))
. Mineração de Criptomoedas na nuvem! Genesis Mining PAGA DIARIAMENTE...
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. Parabéns pelo canal!
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🍀🔆🍀
🍀🔆🍀
Genesis Mining!
https://www.genesis-mining.com/a/797537
. Use o Código >>>>>> (((((( U5XWLu )))))) <<<<<< e ganhe 3% de desconto!
(((((( Mineração de Bitcoin ILIMITADA _ TH/s _ Mining Start 15.03.2018 _ ))))))
. Mineração de Criptomoedas na nuvem! Genesis Mining PAGA DIARIAMENTE...
. Escape do Barulho e contas de Eletricidade dispendiosa...
. Parabéns pelo canal!
https://genesisminingu5xwlu.weebly.com/
🍀🔆🍀
I also use genesis mining for two weeks now and I'm really happe with the results. I think to increase hash power of BTC from 2.7 TH7s to 12.7 TH/s. Good idea?
What do you think?
If somebody needs it: here is my promo code with 3% discount: 0K5gtS
Feel free to share!
Greetings from Germany!
At 80.865 TH/s on my BTC mining contract I got 0.02318355 BTC yesterday (equates to about $58 USD). That works out to around $9 USD for 12.7 TH/s (of course depending on the difficulty level and price of BTC).
I plan to upgrade my BTC mining contract in the near future when BTC price goes up a bit more. (I typically leverage my BTC collected to invest in upgrades and other opportunities.) Based upon my experience, the upgrade I made several days ago will return my investment well before the next BTC halving event in June 2020. It is not a sure thing by any means and there are a lot of factors that will effect the return including the price of BTC in the future.
Bottom Line: I plan to upgrade my BTC mining contract in the near future.
I will add your promo code to my rotation list with a notation to use it to upgrade my BTC mining contract with it.
Have a great weekend!
Steem on,
Mike
I just used your promo code for a 0.7 TH/s BTC upgrade.
Have a great weekend!
Steem on,
Mike
@etcmike, did you calculate the increase in mining difficulty?
Only if the prices rises as fast or faster as the mining difficulty reaching the break even point will be possible.
see https://bitcoinwisdom.com/bitcoin/difficulty
Completely agree, my later reviews denote this as something to be considered when purchasing a contract.
Have a great weekend!
Steem on,
Mike
Please use my 3% discount on Genesis Mining. Code: BHPKoi
Cloud mining all the way for me. These are the sites I use!
All Free Gh/s.
Eobot - https://goo.gl/FVAp7L - Daily free faucet!! Number One & Most Trusted
Fleex - https://goo.gl/hyff4J - 100Gh/s
Rapid - https://goo.gl/W1CzRr - 100 Gh/s
CryptoS - https://goo.gl/LtaaTU - 20Gh/s
MinerClub - https://goo.gl/Lfok5X - 15 Kh/s
Nano - https://goo.gl/ZgcrQe - 15 Khs
Elite - https://goo.gl/72rxWA - 5000 DogeCoin to start investing.
Demix - https://goo.gl/pcpMve - 5 Gh/s
DogeMine - https://goo.gl/syBPcZ - 20 Kh/s
I do not recommend you invest $$$ except in Eobot, more your time,
in and internally generated Gigahashes
Then cash out when you like the day returns!
Then send it over to Eobot to boost my account their.
Please use the links so i can gain a small amount of Gh/s for your referral.
Happy Mining.