Genesis Mining Review - Day 30
Cloud Mining Service - Genesis Mining
Number of Days Since Initial Purchase - 30 days
Currency Mined - Bitcoin (auto)
Contract Hash Rate - 2Mh/s (18 cents/kh/s)
Contract Lenght - 1 Year
Payout Frequency - Daily (everyday, but payout time is not constant and fluctuates on a day-to-day basis)
Amount Purchased - approx. 0.7 BTC (payment in BTC)
Time Purchased - May, 2014
ROI (BTC) on Day 30 - 16.7% (Payout calculated in BTC / Amount Invested in BTC)
(ROI (USD) on Day 30 - 20.6% (Payout calculated in USD / Amount Invested in USD))
Comments - Daily payout has steadily been decreasing over the past 30 days.
Although, ROI of 16.7% (BTC) or 20.6% (USD) looks very good with 100% ROI in sight after 5-6 months IF the current rate of return continues, the question is whether this level of ROI is sustainable (most likely not).
In just 30 days of mining, daily payout volume in both BTC and USD has fallen by approximately 50%. Although there are daily fluctuations, the payout trend is downward.
If this trend continues, our concern is that 100% ROI may never be achieved, at least in terms of investment made in bitcoins (which was our case).
We will post regular updates on how this goes!