Genesis Mining - A test case study

Discussion in 'Digital Currencies' started by Stoic Phoenix, Jun 25, 2017.

  1. JOHNLGALT

    JOHNLGALT Well-Known Member

    Joined:
    Apr 3, 2017
    Messages:
    2,327
    Likes Received:
    842
    Trophy Points:
    113
    Location:
    Country Victoria Australia
    I've got my pick, shovel, sieves 1/8th, & 1/4inch mesh, gumboots, & rubber gloves - to keep the leeches off, also a couple of cans of Aerogard* to keep the March flies off me as I'm about to pick the tiny gold pieces out of the dish.

    If I a have forgotten anything as I go Crypto mining please tell me now, because it is a pretty hard job mining for 'REAL MONEY'. _JOHNLGALT.

    G & S REAL STUFF.jpg
     
  2. BuggedOut

    BuggedOut Well-Known Member Silver Stacker

    Joined:
    Jul 21, 2015
    Messages:
    2,552
    Likes Received:
    977
    Trophy Points:
    113
    Location:
    New South Wales
    I think if you have a closer look you'll see that I was invested and commenting about Genesis well before you started the p1ssing contest with Stoic.

    Anyway it's all old news now.
     
  3. JNS

    JNS Active Member Silver Stacker

    Joined:
    Oct 8, 2015
    Messages:
    500
    Likes Received:
    133
    Trophy Points:
    43
    Location:
    Traveller, Lives in hotel
    Been watching Genesis and Hashflare for a while, thinking to get involve-convince
    Monero is what left in Genesis, while my favorite Dash is not available in Hashflare anymore.
     
  4. BuggedOut

    BuggedOut Well-Known Member Silver Stacker

    Joined:
    Jul 21, 2015
    Messages:
    2,552
    Likes Received:
    977
    Trophy Points:
    113
    Location:
    New South Wales
    My advice = Don't do it.
     
    JNS and Court Jester like this.
  5. JNS

    JNS Active Member Silver Stacker

    Joined:
    Oct 8, 2015
    Messages:
    500
    Likes Received:
    133
    Trophy Points:
    43
    Location:
    Traveller, Lives in hotel
    Thank you @BuggedOut mate
     
  6. Court Jester

    Court Jester Well-Known Member Silver Stacker

    Joined:
    Jul 30, 2012
    Messages:
    3,502
    Likes Received:
    276
    Trophy Points:
    83
    Location:
    Gold Coast QLD
    even with our expensive power prices here in Aus its cheaper and better to just buy the hardware and mine yourself or just buy and hold the coins.

    I see bugged out is not spruking genesis anymore
     
  7. BuggedOut

    BuggedOut Well-Known Member Silver Stacker

    Joined:
    Jul 21, 2015
    Messages:
    2,552
    Likes Received:
    977
    Trophy Points:
    113
    Location:
    New South Wales
    Most recently I have just been defending Genesis as "Not a scam" and trying to explain/share my experience with others and answer questions. I wouldn't exactly call that spruiking.
     
  8. JNS

    JNS Active Member Silver Stacker

    Joined:
    Oct 8, 2015
    Messages:
    500
    Likes Received:
    133
    Trophy Points:
    43
    Location:
    Traveller, Lives in hotel
    Same problem i have, electricity is so high, i can not watch home due to my job, i am a suitcase man, stay in hotel a week for assignment or boarding to place to place.
     
    Last edited: Dec 28, 2017
  9. Brendio

    Brendio Active Member

    Joined:
    Oct 4, 2017
    Messages:
    140
    Likes Received:
    91
    Trophy Points:
    43
    Location:
    Wide Bay
    Same problem I had when I was decided whether to mine in 2011. Electricity costs here are too high. Profitability calculations relied on an assumption of increasing bitcoin price and steady-ish difficulty factor. If assuming an increasing bitcoin value, it was always better just to buy bitcoin and not have to worry about what the difficulty factor would do.

    Crypto mining is an arms race. If you are first with the new weapon, you can do okay, but if you are following the pack, you will be faced with ever-increasing difficulty.
     
    JNS likes this.

Share This Page