Here is my first Genesis Mining Update
Specs: I bought a two year contract of 2Mh/s for a total cost of $65. I have allocated the mining to a 50/50 % ratio of ETH/BTC. I paid with a bank card. As a reader pointed out, I will have to wait 32 days for the actual payout to my eth and btc addresses. If you pay in bitcoin, you get immediate payouts. Meanwhile, the crypto accumulates each day in my account.
This is really a small contract to test how Genesis performed. So far it looks good so I might pay more to increase the hash rate of the mining. Below are 9 screenshots of the daily mining results.
So for 9 days, using a bitcoin price of $2448.34, Genesis have mined me $1.76 worth of bitcoin. Link of where I did btc conversion http://www.btcsatoshi.com/
Using the price of $353 per ethereum, GM has mined me $2.27 worth of ethereum. Link of calculator where I did ethereum to US dollar conversion. http://ether.price.exchange/
So far that would be $ 0.20 of bitcoin a day and $ 0.25 of ethereum a day for a total of $ 0.45 in crypto. With a two year contract, we might predict that after 730 days, Genesis will have paid me $328.50 worth of digital currency.
But that is unlikely to be the case as over time because it gets more difficult to mine as time progresses and in two years, we have no idea what the US dollar price will be per bitcoin or ethereum. I will try to post once a week updates.
For those interested in using Genesis Mining, I have a referral code for a 3% discount: DGjV0p
https://www.genesis-mining.com/
