I think genesis mining is a scam. why would they just use their equipment to mine for themselves with their almost free electricity? the only way to make real money in genesis mining is by using their affiliate program
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My belife is that they use, contracts to hedge and buy gear with for one contract they probably can buy more mining equpment for there own use.
This shuld make there farms grow faster than just mining and reinvesting.
Build a farm sell out % of the gear in contracts, mine on your own gear for "free" and still ern service fees and such.
Thats true I didn't think about that, but how big do you think they want to grow? their operation is already huge!
Online mining is scam of course. I mean it's not exactly a scam but you will not get a good profit from this. But mining on your own machine mining in house it's great. I mining ethereum on 4x gtx1070 and my profit after 1 month is arround 300-450$ clean. arround 75-100$ I pay for electric power.
how many MH you be getting per gtx1070?
Arround 22-28 per one gtx1070 if working x2 gpu's
Arround 20-24 if all x4 gpu are working.
If only 1x gtx1070 is working I getting arrounfd 24-28 mh's + 2/-2 sometimes
That is neat. I got to try that when I got the $$$. Thank for the info
That not true that it a scam. Think about how much increase in the market of several coin price has turn out this year. Look at Zcash. it reach $400 today. It almost at the level Ethereum at. Dash price just incremented all the way up to 200 dollar about 2 days ago. The amount of money you put to invest can earn you back either double or triple the amount within a couple month than a 1 year. It also depend what contract your buying to generate coin. Like me I still buy Bitcoin contract for ZEC. For Dash it too late to invest if you didn't buy it when it was on stock. Once you buy like the 20MH contract for DASH, genesis mining would be making 3x the amount as Bitcoin contract does. Think about it. Using affiliate also increase the earning too but it not that easy now a day.
Youre just saying price in coins are rising, I agree with that. But the same thing would happen if you just bought some and held it.
Genesis mining is NOT scam. Using it for a long time.
Join free: https://www.genesis-mining.com/a/577210