I looked into Genesis mining a while back, was turned off because they do not give much details on how the contract works, you basically commit to a year?
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I looked into Genesis mining a while back, was turned off because they do not give much details on how the contract works, you basically commit to a year?
Yes, there are different types of contracts available.
I currently have a one-year Ether contract that will not reach break even before the contract expires. My return on investment will be negative.
I also have a two-year X11 contract that I am currently projecting to reach break even before the contract expires. My return on investment will be positive.
For the BTC lifetime contract I project I will reach the break even point 20 April 2018. Then for as long as BTC mining continues, I will continue to get an income from the lifetime contract.
You are correct that Genesis Mining does not guarantee any amount of income from the contract. That is why I only dipped my toes into the mining contracts to assess their consistency and reliability.
Thanks for your comment,
Steem on,
Mike