It's Time to Go Bitcoin Mining

Show me the Results

I am writing this post for those that have read a few of my prior posts on Genesis-Mining. I almost decided not to write this up thinking that it would not be an accurate description of what my Bitcoin mining experience and ROI has been. The thinking is that since a few of you have kindly used my referral code for Genesis-Mining, that the numbers would no longer be accurate due to the fact that I have received small increments of mining hashing power for those referrals. Yet I still write this to show my results because in all fairness to Genesis-mining, the referral codes and commissions are open to everyone who purchases a mining contract on Genesis-mining, making it a level playing field for all to potentially achieve similar results.

I started my contract with Genesis on June 9th, 2017 and received my first Bitcoin payout the following day. I have since been receiving daily Bitcoin payouts from the mining contract. Between the 15TH/s Bitcoin mining contract and the small increase in hashing power from the referrals, I have currently received a little over 16% of my Bitcoin investment. I believe that I have been somewhat fortunate with the timing of my purchasing this Bitcoin mining contract. It seems that the Bitcoin Hash Rate and Difficulty have not risen as sharply as they normally do. This has allowed for most Bitcoin mining hardware and mining contracts to have a better chance at breaking even or making a profit. I am not sure how long this good fortune will last as I see that recently the network did see a spike in Hashing power of about 20%. It has since backed off that 20% spike but for how long?

On a sweeter but strange note, it seems that the Bitcoin difficulty went down this last period. This has only occurred once in the last 365 days, until the recent decrease in hashing difficulty that occurred on July 1st. The prior period difficulty was set at 711,697,198,173 and then decreased by 0.4% to 708,659,466,230. This will hopefully allow all bitcoin miners to extend the life of their hardware or contracts. This will most likely not last long, with the next difficulty change expected in about 8 days with an increase of about 12%. I expect this to mean about a 12% decrease in mining output. For now enjoy the smooth sailing both on the Bitcoin network as well as on a nice steady price holding at around $2600.