Ever wondered which is the best Hashing Power / Price combination on Genesis Mining for Ethereum ?
Let's look at each of the contracts available, and the Percentage increase in Hashing Power versus Percentage Increase in Price.
If you see, the sweet spots are at 30Mh/s ( USD 843) and 100 Mh/s ( USD 2715).
At these points, you save 30 USD and 98 USD respectively, because the hashing power increase is 4% more and 3% more respectively, compared to the price increase.
What are the secondary sweet spots if you don't want to go for 30Mh/s or 100 Mh/s ?
7.5 MH/s at 218 $
15 MH/s at 437 $
40 MH/s at 1125$
70 MH/s at 1969$
175 Mh/s at 4753$
Which is the WORST option?
55 Mh/s at 1595$. Avoid this at all cost. Either buy the 40 MH/s or 70 MH/s instead.
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Why do I recommend the Genesis Ethereum Mining Contract?
1) Genesis Mining is a reputed brand.
2) They will switch automatically to other profitable ALTCOIN , if ethereum switches to POS .
3) The Ethereum mining contract is for 2 years instead of 1 year for Hashflare.
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
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!
All these contracts are not profitable if priceses are low...especially bitcoin contract
The prices are currently low @charles1, but I believe that the prices will go back up in the long run.
Thank you for your comments
Yes, yu are correct . However it then extends the time for ROI . On the other hand, the important thing is longevity
and a great investment as I exlained in my latest blog post.
Very interesting @zach! i am pretty sure that ETH will switch to POS only in a couple of years though.
Thank you @andreof for your input! With the increasing mining difficulty home rigs and mining are taking a hit I guess. But I intend to keep investing and holding on to ETH/BTC and #steemit I Strongly believe that we are just at the beginning of block chain revolution. The real boom will be in 5 years :)
buen post bro
Thank you @joseignacio