Skip to main content

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 (scrypt) 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 hashpower, 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 hashpower with the money you earn or you can cash it out when you want. It’s easy and simple. 
Labels:

Comments

Post a Comment

Popular posts from this blog

Genesis Mining Plans

If you have a little cash in hand you should consider investing in Bitcoin. A new projection puts a single Bitcoin at $500,000 by 2030. While this is just a projection and is subject to deviation , the constant rise of Bitcoin cannot be ignored. There are many options to invest into Bitcoin. The easiest and safest option to invest in Bitcoin is to simply open a Coinbase account and buy Bitcoin up front. You can buy a single Bitcoin or just as much as you would like—like $20.00. Regardless of what you choose, you are bound to see a good return in time. If you look to invest in Bitcoin, in the long run, you may want to consider investing in Genesis Mining . Genesis Mining used to have lifetime contracts, but it appears they have phased those out and have switched to contract-based plans: ·         Gold Plan: $30.00 at 200 GH/s (4.9/5 stars) *for starters ·         Platinum Plan: $350.00 at 2,500 GH/s (4.85/5 ...
Post a Comment
Read more

Genesis Mining Actually Works!

If you're still on the edge about weather or not you should invest in Genesis Mining that is perfectly okay. The good thing is you can invest just a little bit to see if you like the idea of investing in cryptocurreny. Cyrptocurrency (Bitcoin specifically) in it's younger days was much more volatile, which ended up being a bad for may people who put all their eggs in one basket. Now, the currency has been much more stable allowing individuals to reach into their pockets and own a little crypto-capital. I have been a member of Genesis Mining for a few months now and the results have been surprisingly great. I bought .75 T/H of sha256 and it has given me some steady income. Look at the results below. Genesis Mining Earnings as of 08 July 2015. The income is steady and I like it. I mean who wouldn't? The awesome thing about Genesis Mining is that it gets deposited straight into my Coinbase account everyday and I get an email from Coinbase letting me know how much was ...
Post a Comment
Read more

Investing in Bitcoin can be Advantageous

Some people like to invest in stocks, real estate, or gold. There are innumerous investment strategies that can be lucrative, so long as you know the market you're working in. I like to talk about currency because currency surrounds our every day lives weather we think it does or not. Let's start with gold. Gold is as prehistoric as currency gets. When man created gold as a currency, it was aimed to create a standard in which merchants could use in a society where goods and services could be traded. The benefit of currency was the ability to trade goods knowing the trade was accurate. Because of the rarity of gold it made the gold standard stable. There is only so much gold in the world, which puts a cap on how inflated the gold currency can possibly reach.  In the American economy we do not have a gold standard. We have a fiat-currency, which in other words is a currency that we solely trust as being what it's worth with no real face value. The problem with a fiat cur...
Post a Comment
Read more