You would be better off putting that $300 into a couple of second-hand GPUs. If you look hard enough and catch them on sale you could even get two new RX470s for a little over $300. Any of these options are better than cloud mining as you get to keep the hardware, and thus keep on mining after 1 year.
Most of my equipment, as I am sure is the same with most other longer term miners, was acquired during the scrypt and Ethereum mining days, so yes it is useful beyond one coins “profitability” period and surely it will be useful past the one year the cloud mining companies limit you to.
I purchased an X11 minimum mining contract - 1 year.
It has been going for more than a month and my income on it has been 0.001xxxx XMR.
Their minimum payout is 0.4 XMR.
So in the year I will never see a single penny back.
Why are they selling them at all if this is the case? Yeah, lesson learned.
The same goes for the BTC and ZEC accounts I’ve purchased.
Neither will ever recoup the amount I paid in the contract’s term.
Genesis is Complete bullshit and I’m a paying customer so I’ve earned the right to type that.
I’m only thankful I spent less than $100 with them unlike some of the other burned folks I’ve been reading about.
Meanwhile… my piece of shit laptop’s processor is mining WAY MORE zec in the background while I type this than my Genesis account is.
Yes, but I am not interested in having mining hardware or software running at my place. Cloud mining is better for me. I stick with CPU Mining. I am happy with them.
Plus electricity for 24/7/365 runtime. Plus maintenance. Plus development, Plus, plus, plus…
Guys, do not forget total cost of ownership. It is easy to just look at the initial purchase price. There is far more to it. I have paid 625 USD for 25 H/s and the speed has been doubled twice since. As such, I am now getting 100 H/s and I paid 625 for a whole year plus 2 extra months. That is 14 months of mining for 625 USD. Definitely less than buying and running it for a year myself! And they have this 5% promotion code at CPU Mining that I used. I am happy and I have now invested far more than my initial investment.
You are missing the point. Of course I expect the value of ZCash to grow significantly. And TCO is not just about buying hardware. Maintenance, electricity costs, and time quickly add up.
You might be looking at the wrong cloud mining company. I am with CPU Mining (http://cpumining.io) and they offer the best contracts in my opinion. Most importantly, they constantly improve their offering. I also have a +5% promotional code. Sadly, the moderators here told me to not send promo codes. They call it spam. Not sure why. If you want the code, write me in private and I send it to you.
Hey moderator, since there is interest, can I please post the promo code for a free +5%? It is not spam. I just want to share a genuinely good offer with a community I enjoy. Shame you deleted my previous post and discussion.
You can now buy 100 H/s for 625 USD and with the 5% promo code you basically get 105 H/s for the same price. And you get 1 month free! That is 13 months of ZCash mining at 105 H/s for 625 USD. Or you could get 14 months at 210 H/s for 1,250 USD.
I am a customer of CPU Mining and a big fan. That is why I want to share the offer.
lol if it was such a “golden goose” why would you sell it? WHY would genesis? lol too funny anyone buying cloud mining contracts thinking they ill make a PENNY above ROI ;p
Clearly you have not worked in the corporate world yet. It is all about scalability. Of course you can do it all by yourself and make money. But when you combine forces you get an increasing benefit. The larger you get, the more you save, and hence the higher your profits get. Simple economy of scale.
Clearly you have no spent enough time in Crypto ;p
that all works fine and dandy in the real world except this is untraceable, irreversible currency. it NEVER works like that as the operators get too greedy and screw over their customers. EVERYTIME. let me repeat: EVERY. TIME.
