In periode of Juli more exact 11/7 i signed a 60 dollars 10 Mh/s 2 years DASH mining contract with Genesis Mining. One day after i received my first payout of 0.001456 which was great and the next day i received another 0.0016 . At that time with the giving DASH mining difficulty this would have lead to a 300 % insane investment return.
However, as time goes on i noticed longer and longer payout intervals and investigated the case. I was choked when i saw that my daily DASH mining were dropped 90% to only around 0.0001456!!! This would only yeild in a 11 dollar yearly payout. My invenstement is now to be considered a seriouly minus investment with huge 50% wrote downs of the initial invested amount.
Genesis mining explaned that the 90% drop in DASH mining payout was due to an ekstreme increase in the mining diffuculty(watch chart)
however what pisses me of is that genesis mining is kind of hiding the fact by a 1 month illustration chart of the dash mining payouts which cant be a ajusted:
this gives the impression of a much larger Dash mining payout slope which actually is an almost zero slope with only a 2 dollar monthly payout compared to the 12 dollars pay from juli-august months. The true illustration should look like this:
(y-axis: accumulated mined dash, x-axis: days) a huge slope decrease difference is to be noted as the function of days.
By the way, they are calling it "two year contracts" but i have now realized it will only pay during the first 1-2 months and will be cancelled when the fees are higher than your payout, which i most expect to be soon for my DASH mining contract ...........................................
How is your experience with Genesis mining?
I defitnely recommend you to stop investing in cloud mining(Genesis mining) and invest directly in cryptos for long term holding. Mining contracts are to risky taking into fact that the mining difficulty can increase 10x over few days.