Mining Update – 5 Mines in progress.

 

I always advise people investing in Mining to split their investment, over these last months I’ve invested a small amount in 5 mines, to see how each of them perform.

Note that mining is a slow process, don’t expect a million dollars over night, however the returns, provided you manage it properly are very good.

So here’s a brief run down of where I’m at.

Genesis Mining

So boring and slow but reliable. Low risk, low rewards, I’ve got 0.75TH in there and it’s making me about 0.002 BTC per day. Which works out at 0.06 BTC, per month a massive £6.00 ($9), I’m not ordering my Ferrari from these sorts of profits, I was hoping to get some affiliates or something to increase my hash power, but I’ll keep going with it slowly, I tend to put some in once a month. on my $114 investment it will take about 8 months to pay the original investment back. Technically I could sell the account so it does have value. But Genesis is long term, very long term.

Splitit Mining

I’m 2 months in with this one, to be honest it has much better features than Genesis, the Autoreinvest function means I’m now up to 2152 (2.1 TH) which is great, the beauty of Splitit is the ability to sell your shares in the mine, so it has more features in terms of mining but only mines Bitcoins which is fair enough. This is by far my favourite mine, the support is great, they pay out, so I’m happy to work along with it, their calculator allows me to see how far we are getting. They do offer a free 100GH, but don’t get excited it’s only for 14 days so you will need to invest. These guys get 5 stars, it’s the best, technically I’ve made 20% of my original account value through referrals (not much) but mostly through re-investing the money back into buying hash power, something that you can’t do with boring old Genesis or Hexocoins they are manual investment only, which seems silly to me because they could keep their money in their business and make interest on it whilst allowing us to build bigger hash power automatically.

At the moment Splitit is adding 10GH a day to my mining power.

Hexocoins

Been plodding along with this one, put $50 in some time ago, I’m just re-investing, it’s a pretty dashboard, not tried to withdraw but I think there are limits of 30 days. I’m happy it’s genuine but I’m not really interested in it enough to warrant spending hours fiddling with it.

Eobot

Talking of fiddling. So my home mining rig now consists of a measly 48GH, in 4 miners, they are hot, noisy, and I’ve got them plugged into EOBOT, which I love fiddling with and can’t leave alone.

At the moment I’ve got it on Diversify mode, which means basically you choose which coins to mine and it flips around and between them, with this sort of teeny hash power it’s taking time to mine, BUT I am mining cloud mining (so earning more hash power) at the moment and that will help long term to my cause, eventually I will remove my miners and go on to something else.

VixICE

This one concerns me, it’s not been going long (unlike the others) but has the best graphical interface and give 100GH free, It’s obviously chinese, but has not details of where it is, so I’d say this is the highest risk mining site, I popped a small amount into it but I’m hoping to do a bigger investment at the end of this month because the GH price is VERY good. $100 buys you an incredible 10000 GH, which makes me very very wary, as the other sites to be honest are much more expensive. HOWEVER if the mines are in China it may be that they have a lot of GH free and the USD buys a lot of YUAN so their costs might be very low, in terms of electricity and even running the mine. IF IT IS A MINE AT ALL, of course it could just be a very clever ponzi scheme. I can’t tell you any more than that except that the fact it has no contact information might be because they are trying to protect the mine. There are a lot of people, you know, governments, banks etc, who would like to bring down a big Bitcoin mine. SO with this one my advice is small investments to start with and see if you can withdraw your coin.

So here are the links for everyone

Genesis Mining
Split it Mining (my favourite)
Hexocoins
EOBOT
VixICE

 

 

 

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