Long story short, this is my experience with Dash mining contracts from Genesis mining:
In periode of Juli more exact 11/7-2017 i signed a 60 dollars 10 Mh/s 2 years DASH mining contract with Genesis Mining. One day after i received my first payout of 0.001456 Dash which was great. The next day i received another 0.0016 Dash . At that time with the giving DASH mining difficulty this would have lead to a 300 % insane investment return over the 2 year periode.
However, as time did go on i noticed longer and longer payout intervals and investigated the case. I was choked when i saw that my daily DASH mining were dropped 90% to only around 0.0001456!!! This would only yeild a 11 dollar yearly payout. Sadly my invenstement is now to be considered as an investment with a huge 50% wrote down.
Genesis mining explaned that the 90% drop in DASH mining payout was due to an ekstreme increase in the mining diffuculty(watch chart)however what pisses me of is that genesis mining is kind of hiding the fact by a 1 month illustration chart of the dash mining payouts which cant be adjusted:
this gives the impression of a much larger daily Dash mining payout slope which actually is an almost zero slope with only a 2 dollar monthly payout compared to the 12 dollars pay from juli-august months. The true illustration should look like this:
(y-axis: accumulated mined dash, x-axis: days) a huge slope decrease difference is to be noted as the function of days.
By the way, they are calling it "two year contracts" but i have now realized it will only pay during the first 1-2 months and will be cancelled when the fees are higher than your payout, which i most expect to be soon for my DASH mining contract ...........................................
How is your experience with Genesis mining or other cloud mining companies?
I defitnely recommend you to stop investing in cloud mining(Genesis mining) and invest directly in cryptos for long term holdeling. Mining contracts are to0 risky taking into fact that the mining difficulty can increase 10x over few days. Another aspect is when the difficuelty increases it kind of forces you to buy more Hash power in order to try to safe you from big losses.
