Still dont understand what the below means for btc genesis mining:
Contract time
The specific duration of an Open-Ended contract is variable and determined by three factors: The mining difficulty, the Bitcoin vs USD exchange rates and the maintenance fee (This includes all electricity, cooling, development and servicing costs). We cannot control the first two factors which are unpredictable, but we do always deploy the latest mining technology, and do our best to keep it running at their maximum capability for you. You can find more in-depth information about the cost of bitcoin mining in our Customer Service Center.
what they mean by open ended contract... that means my contract will be terminated anytime once it hit the hashrate?
Open-ended contract means one that does not have an expiry date, but can be terminated when the daily payout cannot pay for the electricity/maintenance fee for 60 consecutive days.
This is very likely to happen to a SHA-256 contract like what is offered by Genesis Mining.
Hashflare offers both SHA-256 and Scrypt lifetime contracts.
if buy token for hold good or not?..didnt have much money..but it is the same as share for company?..better than return for cloud mining or im completely miss understood here?
Unless you have definite intention to host an L3+ miner with GigaWatt at a later stage when funds become available, it is pointless to buy WTT tokens just to hold because you won't see any money coming in for at least a year and a half.
This is assuming you can find a miner owner without tokens to rent out to.
It is better to buy bitcoin now, while the price is relatively low, and hold for capital appreciation.
Just found out bout this thread. I have 2 units on Gigawatt btw and also bought another unit from a friend of mine. He is running a mini-mining facility so I thought I'd show some support.
I'm looking into Dash currently, Masternodes are out of my reach so I'm considering to mine instead. The problem is it doesn't look profitable at all compared to let's say LTC.
@raymann you have any recommendation on Dash or Monero mining?
Welcome!
I have updated your two units of L3+ with GigaWatt on the first page.
I, too, was on the lookout for a good Dash mining contract and when Genesis re-introduced the Dash mining plans on 1st July, I quickly signed up for 500 MH/s.
I believe I was the first one here to do so.
Since then, Genesis and restricted the amount of MH/s that can be purchased per day due to limited supply.
Yes, I believe Dash will do very well in the near future.
I have no experience with Monero, but here is a video by goldfries on Monero mining which may interest you.
Aiya, he thought he is very smart saying the price of L3+ is only 40 LTC buying directly from Bitmain, while it is 51 LTC with GigaWatt.
Like you, he forgot about the 40 LTC price at Bitmain doesn't come with PSU, with no shipping charges included and no import tax included.
Best of all, he forgot that GigaWatt is hosting the L3+ for us, while we enjoy collecting our LTC payout everyday in a peaceful, quiet and cool environment.
hi raynman i saw at the first post, ur Genesis is mining eth, Hashflare mining btc and HashNest mining ltc? now only hashnest can mining ltc? i saw genesis and hashflare no stock already and hashnest look different with genesis and hasflare when purchase hashpower
Yes, HashNest is very different from Genesis and Hashflare.
They are very transparent with detailed mining information.
And they payout after every block mined, not accumulated and paid on a daily basis.
You can also withdraw LTC from your HashNest wallet anytime you like. No restrictions at all.
Been reading till pening...sorry if I repeat again some info...posts are coming in hot and heavy...and I uncle getting forgetful... Please help noobs to get started Thanks.
GigaWatts - best for now if got funds. You buy tokens & L3+, mine LTC until L3+ kaput or payout not worth. Start mining in few months time after L3+ delivery. Payment in LTC only.
Hashnest - L3+ no stock. Select AntL3 and buy/bid hash power from others...correct? How long do you own this hash power? This one a bit confusing. Payment in LTC only.
Genesis - follow TS buy Dash contract for 2 yrs. Payment in Visa or coins. So first steps to get started for total noobs...
1. Set up private wallet, eg. Exodus. 2. Sign up Luno, transfer RM to buy BTC. 3. Sign up for plans, say Hashnest. Use Luno wallet transfer BTC to Hashnest. Use Hashnest to shapeshift BTC to LTC, and pay for Hashrate.
Thanks.
Wow! I really appreciate you taking the time to go through and understand everything.