Guys QQ on genesis-mining.

For starter I purchased 50 MH/s x11 mining on 6th July, paid via CC, verified and all good.
Also stored my Exodus wallet for both DASH and BTC in account settings.

However as of now there's no payout recorded, curious if there's anything else I need to do?

Maybe minimum threshold for payout?
I see 0.02847388 under my DASH balance currently.

Ah ok got it then.
Thanks for the quick response!

Time to load up dem MH(s).

Ah can't buy btc vio Luno for SGD. : /

Looking at Coinhako but need to go through all that verification.

Passed the test-water phase.



Total:
Hashnest L3 177 MH/s
Hasflare Scrypt 25 MH/s
GM X11 50 MH/s

I guess it's only fair to say that all that fixed n months breakeven thing is possible only if mining difficulty/price stays stagnant which is rarely the case.
It's wildly volatile and big swings are common.

But we chose to be part of it and obviously we're gonna focus more on the good thing than bad thing.

New to Telegram, how to join?
Just got it setup on my phone.

On a side note, now on 110MH Scrypt and 325MH L3.

^ As of now my Scrypt and HN L3 are at roughly 0.5 - 0.55% daily yield.

Yesterday's payout @ 325 Mh.
Yield holding up around 0.48%.

Stocked up some WTT tokens mainly for rental purpose.
Or potential miner hosting should the opportunity presents.

3k tokens.

Yeah kinda late to the party but better late than never.

Not really, still $350-ish.

https://coinmarketcap.com/currencies/bitcoin-cash/

Personally positive towards this split.
And as long as you have your BTC private key you'll be fine, no need to scramble for new wallets.

Jaxx announced that they'll support BTCC so Jaxx works fine too.
http://decentral.ca/jaxx-statement-bitcoin-cash-bch/

This post has been edited by V-Zero: Jul 30 2017, 11:34 AM

+1 here.
Did lump sum for all my purchase and never Dos any follow up/reinvestment.

I'll write more elaborate explanation later, on the move currently.

Here's some reasoning on why I don't reinvest.

Background
Been holding 325MH/s for past ~1 month.

All the roi calculation are based on the average payout over the week (the rightmost green bar in your HashNest dashboard) divided by no. of MH/s.
Effectively I get amount of LTC I get per MH/s per day.

Now the figures itself:
20th Jul: 0.001760
10th Aug: 0.001183

With the formula FV = PV x (1 + C%) ^ D where:

FV = future value (0.001183)
PV = present value (0.001760)
C% = value change expressed in %
D = duration (20 days)

The value of C% is -1.97%.
That means I should expect my payout to decrease by 1.97% everyday over time. (this is obviously optimistic, with more miners coming in, the drop will be more pronounced)

With that I extrapolated my future payout amount:


Days = n days from now
Payout = expected payout at after n days
Value = how much value it dropped compared to 10th Aug's payout.

From here I can tell that, in about 3 months my payout will lose -83.32% of its payout amount compared to 10th August payout.
Which is frankly, good as none.

----------------------------

Ok now the logical part.

If I re-invest my payouts, my hunch tells me that I will never break-even before the contract becomes $0/void.
I can probably build some math models to compare both but I'm lazy.

Hence my view towards this investment is, the day I determine that the payout is no longer worth it, I will liquidate all my contracts, likely with loss, unless LTC skyrockets.
And with the LTC I accumulated, I will do active trading when opportunity presents and hopefully be able to profit from that.

If you know what's a call warrant in traditional securities, imagine it's a dividend paying warrant where both the contract value and payout diminishes over time.

All these are my personal views and by no means recommendations.
Pretty sure there are plenty of things that I missed out, but let's have a healthy discussion.

Mining yourself is different in a sense that the hardware depreciation rate is lower than cloud based mining.




Here's how my chart looks like.
The weekly average steadily went from 0.55 to 0.38-ish now.

Over slightly more than 3 weeks.

Obviously you're not gonna see consistent -1.97% reduction everyday else all run road already.

It's CAGR based, or CARR in this case.

Though points noted, my start point could had been skewed towards the high side.
I'll take fresh readings again, see you guys in couple weeks.

Nah doesn't work that way, the -1.97% is compounded and not flat rate, takes long time to reach 0 but long before that the payout is good as non-existent.
The daily yield % had been dropping steadily from 0.5x% to now 0.3x%, pretty sure you guys noticed that.

Anyway sincerely hoping my calculation is flawed.

^ that's cool.

And dear all, I have no intention to discredit HashNest/cloud mining.
Don't butthurt ah cause I also dumped alot inside

And I hope you are right.
Oh and what we discussed (the drop) actually refers to the payout per hash.

If you are re-investing your returns, you need to take the payout and divide by no. of hashes you have to get the base value.
Then compare with the value in future.