Since the first post where I showed you how easy it is to get involved in Ether mining things have changed a little.
Firstly, the price of Ether has dropped a little, which means it will now take a little longer to break even and start profiting at the current level (but it’s still the best deal in crypto mining!)
Since the last post so far I’ve mined 1 Ether coin (or around $8 worth). You can see it in the graph on your Dashboard page (just scroll down to the very bottom to see your Ether mining earnings graph.) It will look something like this:
You can also see how much you earn every day, in Ether:
To see how much you’ve earned, all you need to do is click the Payouts tab (highlighted in Orange in the screenshot) and you’ll be given a list of all the Ether that you’ve been paid by Genesis for your hashing power.
Much like Bitcoin, Ether has its own block explorers where you can verify your transactions. If you’re curious, you can click “Transaction Hash” (shown in the screenshot above) to see the block explorer and verify that your Ether has been received. Here’s an example of one of our Transaction Hash screens:
Like bitcoin, I’m viewing Ether as a long-term investment. All of the Ether I mine or buy, I will hold onto and treat it simply as any other investment. This means that while this 1Ether that I have mined is worth $8 today, in a week’s time it could be worth $12 or even have doubled up in price.
Because of the huge amount of interest surrounding Ether – from banks and big business – there is a tonne of potential for the price to change rapidly.
Right now, mining it is still profitable – but when the price rises it gets even more profitable. Now is the perfect time to get in on the ground floor with Ether!
I’m still expecting a big price surge for Ether – there is a lot of and investment from banks into the Ether coin and a lot of interest around it, so it has huge potential because of this interest.