Re: Genesis-mining.com || World's leading hosted Scrypt hashpower provider!
I would also be much more inclined to increase my investment if GM would make a firm commitment to proportionally increase the hashpower of existing customers if and when you drop the prices for new contracts. You did exactly that on May 15th, which seems to me a very good way to keep your customers loyal, and if I could be sure that this was company policy, not just a one-off, I would be buying new contracts now.
I imagine that is hard to do for economic reasons. For example, let us say they can sell the hardware at 14 cents, and buy at 10 cents. If you buy a contract they need to buy the hardware, i.e., they make a margin of 4 cents (but need to pay for electricity, maintenance, IT, support etc). So let's say this leaves a profit of 1 cent.
Now six months later, hardware prices drop to 5 cents (just to give an example). They will have to sell contracts for 7 cents by then (because of competition). They simply cannot compensate from their profit to upgrade old users to the new prices (at least to the same extent). However, old users were already mining for 6 months under lower difficulty, so they are partially compensated.
Mining is a risky game. Basically it is a bet on difficulty and price. If I have another 1000 Euro to invest I would again invest them in mining. Is it a safe bet? No, for sure not. It is a risky game that you have to enjoy. But so is buying BTC (if you bought at 1000$ you know what I mean
. In any case it is fun to mine different coins and to support the altcoin universe.bitcoin and altcoins are not stable yet. it is still a high-risk business.
As long as they continue offering more coins to choose from (and their multipool) I think it's a more safe bet than BTC mining though. It's still risky, but not nearly as much.
I totally agree with this! I have tested several cloud mining providers and also ordered lots of mining hardware and I have to say that if you take the bet on mining you are at the right address with GM. They are currently outperforming every other pure bitcoin cloud mining service with their AUTO(BTC) functionality and additionally let you mine various coins and open up the opportunity to take different bets on altcoins as well!
I think everbody will go crazy when they are adding DRK to their systems! There is a lot of buzz going on about this in the forums at the moment!
Hope they are not raising the prices afterwards!
Any comments on this?