Hashflare (SHA-256) and Genesis Mining (Scrypt) Added

Just a brief update today. Genesis mining is having issues with their websites however payouts did still transmit. I added a 2 year Scrypt contract with Genesis and started a 'forever' contract with Hashflare. Updates for both new contracts will be coming with future posts. Posts will be coming for ETH first payout, 32 days on the Scrypt, 90 days overall, 50% ROI. The next series will be mainly on faucets and various bank rolls.

Genesis Mining - 32 Days

Thirty-two days have passed and my pending balance on my SHA-256 (2Th/s) purchase has cleared. The balance for 32 days came out to 0.01810896 BTC ($22.43). The daily avg is 0.000565905 BTC ($.71). ROI 423 days.

It is important to understand unlike the other contracts with Genesis Mining which are 2 years in term the SHA-256 is a 'forever' contract. This means as long as the contract remains profitable it will be valid. My contract has a maintenance fee of $0.00028 per GH/s or $.28 per TH/s or $.56/day. Once the payment has been calculated in BTC for my owned hash rate the equal value of $.56 is subtracted from it and I am paid out the difference. If this number is negative for more than 60 days the contract will be terminated.

Many factors contribute to making this contract profitable but the two biggest factors are the difficulty to mine Bitcoins and their current value. The difficulty over time will increase because more hashing power will always be added to the system or new machines will be more efficient and  replace the older models. Hopefully, at the same time the value of BTC will increase accordingly to keep the contract valid. There are many possible scenarios that could happen and all of them will influence the profit of this investment. 

Next update will be on day 51 when my ETH finally reaches minimum transfer and pays out to my wallet. If you want me to review other cloud mining sites or have suggestions feel free to drop a comment. I like most people am very skeptical about cloud mining so I may not take up every suggestion but I will happily look into them and blog my concerns or investment.

Referral code(3% discount): 4AIvxq

New focus

Initially I had posted that this blog would focus on many ways to monetize your existence. This sadly is not the case anymore. We will now focus strictly on crypto currency. From now on I will be doing reviews on ICO's, faucets, currencies, projects, mining, software and hardware.

Moon Bitcoin - Faucet - Review

This website is a faucet they make their money by showing advertisements and having various redirects and pop-ups on their website. They then take this revenue and send a portion of it to the users. The qualities that make a good faucet are as follows ease of claim, value of claim, minimum payment, number of captcha, complexity of captcha and reliability.

Evaluation

Ease of claim- B

Place your wallet address into the bar and when you reach minimums payment will be sent. Perodically the claim button will either make an additional page popup or it will redirect your current page to a popup.

Value of claim- B

Dynamic claim system. Depending on the current BTC to USD value the payment will change the lower the BTC value the more the faucet will offer. Additionally, the payment will increase overtime but the satoshi per minute will decrease as time goes on.

Payment- A

If you are using an Xapo wallet payments are instant. If you are using any other types of wallet the minimum payment is 25,000 satoshi. Payments are done once a week if you are over 25,000 satoshi.

Number of captcha- A

You either do 0-2 Google captcha. This is variable based on if you get a popup or a redirect for your advertisements.

Complexity of captcha- A

Easy Google captcha typically take less than 2-4 seconds.

Reliability- A

Used for over 50 days now with zero noted down time, 100% payments.

Analysis

At the time of writing this the payout rate is as follows.

Claim Time	Payout
5 minutes	21 satoshi
10 minutes	39 satoshi
15 minutes	54 satoshi
30 minutes	84 satoshi
1 hour	119 satoshi
4 hours	214 satoshi
1 day	378 satoshi
4 days	537 satoshi
1 week	609 satoshi
4 weeks	806 satoshi

It is important to note that every day in a row that you use the faucet you will gain a 1% bonus till 100%. It is possible to gain another 100% via referrals, another 100% via promotions, and up to 100% random bonus. 

However, based on experience the 100% log in bonus and the random bonus are the only ones reliable on avg I get 40%. I will be using 140% bonus for all the calculations.

Pay rate:

Every 5 minutes - 14515/day 101,606/week Payout Weekly

Every hour - 6,854/day 47980/week Payout Weekly

Every 4 hours - 3081/day 21,571/week Payout in 8.11 days

Every day - 907/day 6350/week Payout in 27.55 days

As you can see the faucet has a massive difference in frequency of claim. The less frequently you claim the more valuable your single claim is worth. It is important to consider how valuable your time is vs how much you make. 

Claiming every 5 minutes is unrealistic and would only be worth $1.26 a week at the time of posting. However claiming daily is worth 7.9 cents a week.

Personal Use

Personally I claim when I wake up, a few times randomly during the day (elevator rides, waiting in lines, other idle moments), and before bed. This typically nets me 30,000 satoshi or roughly 37 cents every week. I never have and never will go out of my way to farm faucets they are used only for idle time when I have zero better options.

Genesis Mining - 14 Days

BTC

Initially I had invested $300. This is the first 14 days of my investment while it has not been paid out into my account yet (due to company policy on credit cards) you can start to establish a trend.

14 day total comes out to 0.00749819 BTC ($9.04). 

This comes down to 0.000535585 BTC a day ($.65). 

ROI for this will be 462 days. 

It is important to note that all of the SHA265 contracts with Genesis Mining are "forever contracts" they subtract a cost for electricity and maintenance from your pay and if the outcome is ever 0 or a negative number your contract terminates immediately 

Ethereum

Initially I invested $30. This is the first 14 days of my investment. It is important to note that the minnimum payout for ETH is 0.05 So I have yet to receive a payment from Genesis Mining and you can expect an update after the first payment.

12.04.2017   ETH   0.00173062 i

11.04.2017   ETH   0.00168325 i

10.04.2017   ETH   0.00166902 i

09.04.2017   ETH   0.00168151 i

08.04.2017   ETH   0.00172935 i

07.04.2017   ETH   0.00175158 i

06.04.2017   ETH   0.00176797 i

05.04.2017   ETH   0.00171812 i

04.04.2017   ETH   0.00176623 i

03.04.2017   ETH   0.00178725 i

02.04.2017   ETH   0.00183080 i

01.04.2017   ETH   0.00175657 i

31.03.2017   ETH   0.00181502 i

30.03.2017   ETH   0.00181289 i

14 day total comes out to 0.02450018 ETH ($1.24). 

This comes down to 0.00175001 ETH a day ($.088). 

ROI for this will be 340 days. 

It is important to note ETH contracts are purchased for 2 year periods. Additionally ETH has a natural risk because they will be converting to proof of stake vs proof of work in the future. Investing here is is significantly more risky than the other options.

DASH

Initially I invested $60. If DASH has a payout it is below my current gain per day. I have received every listed amount into my wallet without any delay.

12.04.2017   DASH   0.00317478 i

11.04.2017   DASH   0.00353486 i

10.04.2017   DASH   0.00286740 i

09.04.2017   DASH   0.00266440 i

08.04.2017   DASH   0.00308846 i

07.04.2017   DASH   0.00308846 i

06.04.2017   DASH   0.00250965 i

05.04.2017   DASH   0.00319211 i

04.04.2017   DASH   0.00336598 i

03.04.2017   DASH   0.00309942 i

02.04.2017   DASH   0.00320633 i

01.04.2017   DASH   0.00400897 i

31.03.2017   DASH   0.00355901 i

30.03.2017   DASH   0.00329630 i

14 day total comes out to 0.04465613 DASH ($3.38). 

This comes down to 0.00318972 DASH a day ($.241). 

ROI for this will be 250 days. 

It is important to note DASH contracts are for 2 years when bought. There has been a recent price surge in DASH price and it is possible for a massive difficulty raise in the coming weeks.

Conclusion, Concerns and Recomendations

     It is my personal opinion that the best options featured here is DASH. BTC should be invested in if you believe in the currency and its future growth. ETH should be avoided because it will be a losing investment the moment they change from proof of work to proof of stake.

     The future of ETH will go away from mining and into proof of stake this will be followed by a massive increase in difficulty that makes mining unprofitable so your contract will be pointless when this happens. 

     DASH should pay itself back quickly and allow for extra income in under a year. If the price and difficulty increase together over the term of the contract (730 days) I should make $175 for a profit of $115. My current plan is to roll the first $30 I make from this contract directly back into another 2 year contract and keep folding this money.

     BTC is the actual gamble here at 462 days till ROI anything could happen. This contract was bought while BTC value was in the $900 range at the time of writing this article it is now at the $1100 range. This increase has been visible in my payments and will be shown in a later article. Personally, I believe in the currency and that its value will always be greater than the difficulty to mine it so this contract will last for many years to come being the most profitable. However, I could wake up tomorrow and see that it has been terminated due to a slump in price and an increase in difficulty.

     In conclusion DASH is the safe route BTC is the long term and hopeful route ETH is the one that should be avoided.

     All of these investments have possible risks associated with them and any investment is not an action that should be taken lightly. All information here is not legal or financial advice.

Referral code for 3%discount on all purchases: 4AIvxq

Notes:

For ETH and DASH I have copy pasted the numbers from my "payout" tab on Genesis Mining so I could remove my payment address and this allows me to clean up the data for presentation. If there is any question or concern about this data I can and will post screen caps of the information.

Getting Started - Faucets

So now that you have a wallet lets get to making money! (If you do not have a wallet please refer to part 1 or quickly download Coinomi in your mobile store and set it up to continue.) One of the simplest methods of making money is a faucet. They are not massive amounts of money but will get you familiar with things.

What is a faucet?
A faucet is a website that exchanges ad revenue for crypto-currency. The website owner will set up a page with numerous advertisements on it then at regular intervals the users will visit this page claiming 'free money'. This income is a small portion of the income the site owner is generating but for nearly minimal work and no initial investment it is a good method to get familiar with crypto-currency.

Suggestions:
Over the past few weeks I have been testing and trying different faucets. These are the ones I have found to effective. They are sorted based on the ease of use, amount of related spam, and pay rate.
A+

Notes: I suggest Coinomi as a quick wallet to grab because set up is seconds, it is very versatile, and supports multiple currencies in no way is it the best option for everyone.

The faucets I link all have referral IDs being on a referral identifier does not negatively impact your income in any way shape or form.

Cloud Mining Is It Worth It?

A very common question for newcomers to the crypto currency community is, "can I make money off cloud mining?" This is my run into that experience and a journal as I either lose or make money via such company. My investment are placed into the two largest and oldest cloud mining companies Genesis-Mining and Hashflare. Genesis minning is a company that started in 2014 based out of Hong Kong with service coming from Iceland they have various "live streams"
Genesis Mining:
Ethereum - 1MH/s $30 2 year contract
SHA56 - 2TH/s $300 forever contract*
X11 - 11MH/s $60 2 year contract

Hashflare
SHA56 - 10GH/s $1.20 forever contract*


Note: I had larger purchases for Hashflare however my debit card put the purchase on hold then it appears Hashflare cancelled my order. If a profit gets turned I will be reinvesting into both as time goes on.

*Forever contracts remain valid as long as the minning stays "profitable". Both companies subtract a payment for electricity on your daily payout. Additional note is Hash claims to resume minning if the coin returns to being profitable while Genesis terminates the contract.