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RE: Bitcoin is BACK! - Genesis Mining Upgrades with 3% discount

in #bitcoin8 years ago

I used Genesis lifetime contract lasted 6 months got about a third of investment back. First few weeks seemed promising but then any time there was an increase in value of bitcoin or any other coin you choose the reward dropped. For instance i was purely mining Bitcoin, then they dropped the reward to about 5 cents per day. I switched it to Dogecoine and was receiving approx. 1000 per day which at the time was worth a little more than the 5 cents from bitcoin but I thought hey maybe dogecoin will go up. Then after about a week it went to 20 dogecoin per day. HMMMM that made no sense. Within about 2 weeks the reward was less than the fees and the contract self terminated after 20 days of not covering the daily fees that are in the contract. I spent $400 on the contract, and tried every variation to see if it would pay me back but it did not. The good thing was it got me interested in other coins other than Bitcoin and without trying Genesis mining my mind may never have been opened to the opportunities in alts. As far as making money, highly unlikely. I did do good on Ether through Genesis, here's why.. Ether was around $1 when I started mining and received good payouts on their fixed 1 year contract for about one month i made 50 ether. once Ether climbed to 8 dollars the rewards dropped to about 20 cents per day worth of ether. Again this did not make sense. Fact of the matter was had I taken the $400 lifetime btc mining and $400 ether 1 year contract and just bought the equivalent that day in BTC and Ether I would have made 10's of thousands of dollars. Lesson learned for me about mining contracts.