Community post
X11 Mining
Hello ;)
I wanted to talk about the X11 plans that have just come back in stock on Genesis Mining. In my opinion I think Dash is great as I do find myself using it, however on Genesis I don't think it is really worthwhile mining. I think this because of difficulty ratings and the price of Dash, it takes a lot of time to break even unless you have a large hashrate. I think mining Dash on a Baikal miner would be much more profitable even though they are hard to get ahold of as of now ;) 
This shows a yearly profit of 0.28Dash($51) on 5MH/S but this is a very rough average with the difficulty just being the same the whole time which will not be true.
This calculator says slightly differently with a higher amount of Dash yearly.
Overall I think mining X11 can be worth mining if you have a big enough investment as it could bring back a promising return however I would avoid this if you are only going to buy 5MH/S and invest in something else or save up for a GPU rig for ETH/ETC/UBQ/ZEC or maybe even Dash ;)
Pentium
Replies (8)
I would never use any cloud mining service unless you are one of those youtubers begging for people to use their code so it only can benefit them. Stay away from it all together.
Yeh ;) I kind of think the same to. Owning the hardware is the best option in my opinion :D
honestly, you are better off mining an easier coin and selling it off for btc and buying yourself some dash or eth. mining dash at this difficulty with low hashes is really not going to get you anywhere fast...
I have made my money back with 5MH/s but I bought it like 5 months ago. I do not recommend getting 5MH/s now though as the difficulty has gone high enough to not get payouts to your wallet everyday. I now have to wait 2 days to get my payout. When I first bought it I got payouts everyday. On June 13th the difficulty was so high that I no longer was getting payouts everyday.
Since this is a 2 year contract though I would imagine you will make your money back. I suggest if you are going to buy X11 keep buying upgrades with fiat until you get to just over 30 upgrades everyday. As long as you keep feeding the beast you will be good. The problem with it though is that you will need to get past 60 upgrades you will need to do $120 upgrades. So on and so forth... It can be done but I don't recommend it.
I prefer SHA256, as the above method need not apply other than paying fiat until you can start feeding the beast from the payouts each day which would be adding 6TH/s a month. That will create exponential growth and keep you really far ahead of the difficulty increase.
Stick with SHA256 that is where the money is...
That is very true :) I think ETH is kind of heading that way as well, and some people are getting ready for it to become PoS as well ;)
Yeh I really agree with your thoughts on the dash. I mean 5 months is not too bad for ROI but I think you get a faster ROI from mining Ether on there, either way I still think you are better off using equipment you have control of becuase you can swap coins whenever you want and you can choose when you get payouts according to fees etc
I myself do some cloud mining, but im not in it for the profit ina sense. More just its a simple way to get extra crypto over time. If you wanna make money you buy your own hardware.
Agreed ;) Thank you for your input! :)