Mining Cryptocurrency UPDATE + MY Opinion on Cryptonick
Hi all, its me alexander giving you an update on my quest to get to the Olympics from mining cryptocurrency.
So far on Hashflare
I decided to invest some more mining power taking me up to 78.4 MH/s
Then last night I was watching one of cryptonick's video which I will leave a clip down below for you to watch
In my Opinion on his video I to agree with him that you shouldn't invest with genesis-mining let me show you an example
here shows a that if you want to mine some ethereum it would cost you $1480 for 40 MH/s and if you run that through coinwarz
it says that you would take you about 316.51 Days to break even.
So with that I tried a different cloud mining and fore which I have found one called hashzone on twitter
Upon registering you will get a free 20 GH for mining bitcoin, I decided to do invest 7 MH/s on there mining platform $108.15
And if do the calculations through coinwarz
It would say that I would break even in 132.17 Days to break even which is less than Hashflare I think.
BRIEF NOTE:
It may work differently for others
Only invest on what you can afford to lose
Calculations on the exchange rate can always change
I went ahead and signed up for Hashzone with your link and look forward to giving it a try. I have used Hashflare and it has gone well but not spectacularly. I have been reinvesting all profits trying to get to the kind of holy grail amounts that such interest/earnings rates (0.5-1% per day) can produce. I'm not sure it ever really adds up that way but it is money I can afford to lose.
Laugh and the world laughs with you, snore and you sleep alone.