I’m trying to get my head around this… A Genesis Mining Ethereum contract for 25MH/s for one year is $1,100??? I feel the need to work through this “out loud”, as it were - just in case anyone reading this is tempted…
Lets say instead you buy 2 x HD7950s for $200 (or find cheaper then the couple I found listed which were “refurbished”). You’ve already made $900 “profit” over what you would get with the GM contract
Those 2 cards in pretty much any system with 2 PCI/E slots (x1, x4, x16, who cares) will hash at about 40MH/s and you own them FOREVER (in reality you stop using them when they stop making a profit).
You will have electricity costs of $2-$4 depending on where you live and generate ~0.95 ETH per day. At $10/ETH that means that they will earn between $5.50 and $7.50 per day… 27 to 37 days to get your entire investment back.
For the GM contract you’ll earn ~0.6ETH per day = $6. After 27 days you’ll earn $162 (i.e. a loss of $938) and 37 days you’ll earn $222 (a loss of $878). In ideal circumstances with no increase in difficulty for an extended period of time, assuming that contrary to all planning they don’t move to POS (which they will) - it will take 183 days for your Genesis Mining contract to return your investment.
Incorrect conclusion: These contracts are great value…
Obvious conclusion: I’m in the wrong job.