Genesis Stopped Mining by pagandance

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genesis · @pagandance · Aug 13 '18 (edited)

$0.15

Genesis Stopped Mining

Since 8 August Bitcoin mining became also unprofitable for the Genesis contracts, after Hashflare and Hashing24 and others no longer could mine with profit.

![](https://cdn.steemitimages.com/DQmZP93smVvRZbQHe2Z4J56R74nZZyBybKpruuudTsSMk3h/image.png)

Below 6800 USD Bitcoin mining is no longer profitable for Genesis.

Despite this, Bitcoin Hashrate keeps growing day by day and is now 10 times bigger than a year ago with over a whopping 50 million TH/s.

https://www.blockchain.com/charts/hash-rate

👍 pagandance, marcusantoniu26, theguruasia, steemwija, gungadin, blazing, fux, sujonxr

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@blazing · Aug 14 '18

$0.09

what a great price point for bitcoin we all are stuck at this is going to be massacre in prices

👍 pagandance

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@fux · Aug 13 '18

$0.05

oh man... no!
Im not amused and i invested my money in both. Hashflare and Genesis.
hope change will comming soon!
thanks for sharing!

maybe you like my content, too.
please let us connect and stay tuned
# @fux 🦊

👍 pagandance, fux

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@pagandance · Aug 13 '18

$0.05

hopefully Bitcoin does not stay longer than a few weeks where it is now, or else our mining contracts will be terminated, as their clause says if we have to stop mining for more than 2 months, your contract will be terminated.

👍 pagandance

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@gungadin · Aug 14 '18

$0.04

I have also invested in both. I have received my money back as I invested early 2017. I do feel for those that invested recently. It is a good time to buy Bitcoin as it is cheaper than mining. The price will increase soon, but I don't think mining will be good again, there are too many big miners out there...so best to buy little chunks when you can.

👍 pagandance

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@pagandance · Aug 14 '18

$0.10

I went in too late, in mid 2017. I just broke even with Genesis Bitcoin, but with the others I am at a loss.

👍 pagandance, gungadin

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@marcusantoniu26 · Aug 13 '18

$0.10

I feel that there are forces trying to keep bitcoin's price down. The constant negative news has brought demand down and it is more difficult to buy than 1 year ago. Regardless, at less than 6000, it is cheaper to buy it than to mine it.

👍 pagandance

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@pagandance · Aug 14 '18

$0.10

I think it's the big miners like Genesis and Bitmain that are trying to suffocate the smaller mining farms. They are mining now with losses, but I think they are also the bears that push prices down. If they can keep this game going for over 2 months, they can get rid of all the old contracts and use the old ASICS to mine for 100% for themselves.

👍 pagandance

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@sujonxr · Aug 13 '18

Why bitcoin is not divided on my wallet

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@theguruasia · Aug 14 '18

$0.13

@pagandance,
Dan see this crisis and introduced 3 blackchains that could answer that!
STEEM, BTS, EOS!

Cheers~

👍 minnowspower, pagandance, bot2020, penghuren

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@pagandance · Aug 14 '18

$0.10

But these go down with Bitcoin too. As I see it now, the Alts will only catch up with Bitcoin again once it has stabilised in 5-10 years.

👍 pagandance, theguruasia

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@theguruasia · Aug 14 '18

@pagandance,
Seriously 5-10 years? Oh f#$k :/

Cheers~

👍 pagandance, mbot

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1 reply