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RE: Sweet spots in Hashing-Power versus Price Combination in Genesis Mining Ethereum Contract

in #cryptocurrency7 years ago

There are several proposals on the table for Ethereum I have run across which could affect mining contracts. Crypt0 has talked about these proposals in one of his videos.

As Ethereum mining approaches POS the difficulty level has been increasing and my payouts (when the price was stable) were decreasing.

One must have enough Ethereum mining hash-power to continue their payouts through the transition period. I currently have 56.15 MH/s of Ethereum mining hash power at Genesis Mining. While there are payouts everyday they had not been accumulating to enough to transfer until every third day. As of today, I am getting a transfer to my Ethereum wallet until every fourth day.

I do appreciate the analysis you have provided in identifying the sweet spots. Base on my experience there are sweet spots in every contract offered by Genesis Mining.

Because of the rapid decline in payouts I am no longer buying Ether mining upgrades from Genesis Mining.

The X11 mining contract has been doing well for me. But Genesis only allows me to upgrade less than $100 per day. When crypto prices recover, I plan to start upgrading my X11 mining at Genesis Mining again, starting in August.

Good post!

Have a great week!
Steem on,
Mike

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Thank you @etcmike

Yes, the ETH mining difficulty is exponentially rising. But I am thinking, Genesis will be prudent enough to switch to another alt coin if ETH becomes too hard to mine or goes the POS way.

Totally agree with you on waiting for the Crypto prices to recover. We all must hold on and wait, I guess :)

Thanks again for your comment. Have started following you!