Genesis Mining Dogecoin DOGE Contract
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DASH Mining Profitability Guide This article outlines the Daily, monthly and annual yields of DASH mining contracts from. I will highlight some of the risks and rewards of buying the 2 year maintenance free Dash contract (for other guides check out Bitcoin, Ethereum, and Zcash Mining). It is important to note that you cannot change the mined currency after purchase. At the end of the article we will show you our calculations for a potential Return on Investment (ROI). Please note that yields are affected by many uncertain variables such as DASH value, mining difficulty and other risks. Disclaimer: Information contained on this article is for informational purposes only. It should not be considered legal or financial advice.
You should consult with an consultant or other professional to determine what may be best for your individual needs. Crytocurrency and mining are subject to huge loss or gains.
Does It Make Sense To Mine Bitcoin Cash BCH. What is DASH Dash (DASH) is a form digital currency that is not controlled by any government or individual entity. DASH is based on Bitcoin technology, whereby a distributed network of “miners” would maintain the ledger of all DASH transactions and accounts (called the blockchain). However, there is major differences between DASH and Bitcoin: • Anonymous transactions - DASH transactions are anonymous, so it is impossible to trace the source of DASH funds. This offers significant privacy benefits for DASH users. • Instant confirmation - Masternodes instantly confirm DASH transactions, whilst Bitcoin transactions take 10-30 minutes to confirm.
• Low fees – DASH fees transaction fees are significantly less than Bitcoins or any other bank for that matter. • X11 Algorithm – DASH mining uses a differ algorithm called X11. DASH Value If you are investing with a fiat currency (eg USD), the value of DASH is one of the most important factors when calculating the return on investment. Once the contract is purchased, DASH will be paid out on a daily basis, based on the success of that day's DASH mining. The fiat currency value of DASH fluctuates greatly over time and is difficulty to predict the future value.
However,, from $11 USD to $79 USD ( March 13th 2017). Whether this will continue or decline is up to the market. X11 Mining Contract Cost Genesis mining is currently selling X11 mining in the form of a 2-year contracts. 2 years of upfront payment must be made. Everything mined during the 2-years will go to the contract owner. Unlike the Genesis mining bitcoin contract, there are no maintenance or electricity fees.
This is an important factor in ROI calculations as the electrical bill can significantly cut profits. Currently X11 mining costs $8 USD for 1 Mhz. You can get a 3% discount with the X11 mining coupon '6bXKwD'. Daily Yield Genesis-mining pays out the profits (yields) from cloud-mining on a daily basis. The daily yield of DASH depends on the a few factors: • Network difficulty- Think of it this way, everyday the same wage gets paid to all the DASH miners in the world. • Value of DASH- The current USD value of DASH is important for those seeking profits in fiat currency (USD) or even Bitcoin (BTC). *Genesis mining could be set to mine in DASH or BTC (automatically sell at market price) To help with calculations, DASH mining calculators could be used to calculated the daily, monthly and annual yields.
• - Top DASH mining calculator • - Alternative Mining calculator As these are designed for at home miners, remember to set the Power Consumption (w) to zero, as Genesis-Mining does not charge for electrical fees during the contract. Also keep in mind that the contract is for two (2) years, and hence you should multiply the yearly profit by 2. We can see from the image above that the annual profit for a 100 MH/s is $1057 USD (or 11.10 DASH).* *Note: Network difficulty changes are not taken into account in this calculation. Increases in network difficulty reduces the DASH yield and in return will reduce the profit per year.
Improvements in mining technology (ASICS) will increase network difficulty. X11 Mining Return on Investment (ROI) We will calculated the expected Return on Investment for a 100 MH/s contract as follows: • Expected value = $2114 (2 year contract of with annual yield $1057) • Cost of contract = $485 USD (Assuming coupon code '6bXKwD') • Return on Investment = 436% The current Return on Investment is simply insane. This is because the value of DASH has gone up whilst the cost of mining has not.
In addition, physical miners (such as the ) are sold out. What is X11 and what else can I mine?
When you purchase a DASH mining contract, you actually rent an ASIC that mines using the X11 Algorithm. X11 algorithm can mine coins such as Litecoin (LTC), Dogecoin (DOGE) and DASH. Genesis mining will mine other X11 currencies if it is no longer profitable to mine DASH. Genesis Mining can be set in 'Auto' mode, where it will automatically choose which coin is most profitable and mine it. The following image shows the X11 settings on Genesis-mining.
The image above shows the default X11 mining option BTC (AUTO). With genesis will use their X11 miners to mine the most profitable coin and automatically convert it into bitcoins.
This is the most convenient choice as it reduces the need to create multiple wallets. How to store DASH The are two good ways to store DASH: • Dash Wallet- Storing it in a personal DASH wallet allows easy access and spending • Online exchange- You can store DASH directly at an online exchange. Using this method you can trade DASH to USD directly when the time is right. Not all exchanges allow DASH trading due to its anonymous nature.
The top exchange at the moment is. About Genesis Mining: has a few different crypto-currencing cloud mining options available, and choosing between them may be extremely difficult. One of the top considerations when buying a contract is the return on investment (ie: profit) for the cryptocurrency. Genesis Mining is located in Iceland. Genesis Mining provided evidence for the existence of its mining operation (live streams, ivideos of data-centers). Their contains videos of wide angle sweeping shots of its data centers, along with their employees installing bitcoin mining gear. Iceland also has one of the cheapest electricity costs at 5.54 US cents per kWh (source ).
Update: March 2017: DASH Mining on Genesis was Out of Stock for 36 hours. Remember to use the Promotion code ' 6bXKwD' to get a3% off discount coupon!!