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Showing posts with label Introduction to Genesis Mining. Show all posts
Showing posts with label Introduction to Genesis Mining. Show all posts

Monday, 12 December 2016

Introduction to Genesis Mining

Introduction to Genesis Mining: A blog about invest
Introduction to Genesis Mining Understanding Bitcoin If you are like me then you are have probably are looking for a way to invest in bitcoin or some kind of alt coin. I am assuming that if you're doing research on bitcoin mining you have an idea of what Bitcoin is all about. If you are totally new to Bitcoin then I recommend you watch this video. Before you do invest in bitcoins and alt-coins I recommend you consider the risks associated with digital currency. I would not recommend investing a large amount of cash into any cloud-mining website like Genesis Mining until you understand how mining works and the risks associated with mining. Two of the major risks to be aware of before mining is the bitcoin/alt-coin value volatility and the current and future difficulty of the algorithms to mine coins. Bitcoin has a limit of 21 million bitcoins (expected to be reached by year 2140). Right now we are able to mine bitcoins at a profitable rate but as time passes bitcoins will become scarce and the difficulty of mining will also become more difficult. Don't let that scare you too much because there is still money to be made until then. I believe along with many other enthusiasts and professionals that digital currency and a decentralized currency will be the future and am trying to get as much capital in my hands a possible. I looked into doing some mining of my own but found it to be too much work and expensive due to the electricity costs in my area. With that said, I turned to Genesis Mining. Genesis Mining is a company that has proven to be reliable, simple, and have has shown good Return of Investment (ROI) rates (See this link to see proof). What is Genesis Mining? Genesis mining allows you to buy a piece of Genesis' mining capacity which is currently sold in MH/s (script) or per GH/s (sha256). As of the date of this posting they do not have any scrypt available for new customers to mine and are currently only selling sha256 which is bitcoin. You can buy bitcoin at genesis for: .05GH/s for 24.95 USD 0.075 TH/s for 36.75 USD 0.1 TH/s for 49.00 USD 0.15 TH/s for 73.50 USD 0.25 TH/s for 122.50 USD 0.5 TH/s for 245.00 USD 0.6 TH/s for 294.00 USD 0.7 TH/s for 343.00 USD 0.75 TH/s for 367.50 USD 1 TH/s for 469.00 USD 1.5 TH/s for 705.00 USD 2.5 TH/s for 1,175.00 USD 5 TH/s for 2,350.00 USD 7.5 TH/s for 3,525.00 USD 10 TH/s for 4,700.00 USD 15 TH/s for 6,750.00 USD 20 TH/s for 9,000.00 USD 50 TH/s for 22,500.00 USD 100 TH/s for 45,000.00 USD I just recently bought 0.75 TH/s of sha256 for $358 with a discount of 2.5%(Here is my referral discount code: mDXuFv if you are interested in joining Genesis Mining). According to this calculator I should be making about $55 per month. In a year I should make about $660 assuming the price of bitcoin will stay relatively the same and that the difficulty of mining doesn’t change too much. Genesis Mining gives you daily payouts, which will be deposited into you coin-specific wallet. I use Coinbase but there are others out there for the choosing. Once you sign up for Genesis Mining, which is super easy to do. All you do is click sign up on top right of the webpage, create an account, verify you’re not a bot, choose you hash power, and finally you checkout. Don’t forget to link you wallet ID from Coinbase to your Genesis Mining. They need a place to send your money. It’s kind of important. Conclusion Buying your own rig is a little complicated, unless you’re a Computer Science/Engineering major or a quick learner. My guess is that you made it to this website because you don’t find building your own rig as a practical investment. Overall, Genesis Mining allows you to buy some hashpower and watch the money flow in and you can always buy more hash power with the money you earn or you can cash it out when you want. It’s easy and simple.
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