If you have missed Part 1 I wrote back in August give it a read before continuing to this part 2 follow up.
It is now day #185 / 720 of my Ethereum mining contract with genesis mining. I have continued to record my daily output from my investment for all to see. One thing to mention in this next instalment is the number of missed payouts on my contract. Previously there were some days where there was no payout recorded but since the Bitcoin Gold fork, I have contacted Genesis about a total of 30 missed payments scattered across the past 4 months. I am yet to receive an update but will be sure to update this post as a receive information.
At day 185 I have made $235.65 leaving a gap of $64 until i break even. You can see my ETH mining /day output. The gaps representing days where 0 payout was recorded and the spikes represent days when i was back payed for prior missing payments by Genesis.
At this point it is important to note that with my intial investment of $300 @ ETH price $124.30, If i had just invested that money in ETH i would now have $724 @ ETH price $414. Yet on my Genesis contract, I am still chasing my original investment with an estimated 50 days until i break even.
The ETH price has just broken an important resistance $400 over the past 48 hours so if it continues to rise, I will hit my ROI quicker than the 50 days.
Given the missed payments and the rate of ETH payouts decreasing to the levels they are at now my ROI is now down from $869 USD to $622. Which is quite disappointing considering If i was to just invest my original $300 from the start I already would have reached this ROI and not have to wait the remaining 535 days.
Its always good to summarise this down. I am concerned about the missed payments from Genesis and hearing reports of people trying to contact support for months and being ignored does not help the matter. I think i’ve been at this for long enough to safely say, Genesis mining Ethereum contract is not even worth the paper it is printed on. You would be better off taking your capital and investing it directly into the asset, beit Ethereum, Bitcoin etc… of course this is just my opinion and my experiences. Im interested to hear how you differ? Have you had a similar experience with Genesis? The contract started off really well but unfortunately lately it has fallen apart. There is no easy money in this world and anybody claiming they have found the magic sauce, i would question them as I have done here by sacrificing a small amount of capital so you all can see the truth.
If this article has saved you from poorly investing in Genesis I kindly take pity donations