From 60 million + 12 million + 18million = ~90million 60 million - is the Pre-sale. 12 million - is the dev fund, 0.2coins per 1 coin sold in the crowdsale. ~18 million - 1 million coins mined per month for 18 months prior to going from POW to POS. Update #1: 91,018,773.78 (April 25, 2017).

Update #2: 97,017,191.75 (Dec 13, 2017). Some discussions • • inflation After a while, 15,626,576 ether won't represent much of the total ether available, making the system dis-inflationary (i.e., inflation perpetually trending towards 0 but never reaching it).

@NikhilM we've seen this story before: if it doesn't take much Ether to actually create a contract then absent other drivers for demand the value will plummet. The rallies are driven purely by the low float, which is great for perception, but one must look at the risk factors for both the economics and their associated investment. Cryptocurrencies make this difficult due to the need to own them as an asset thereby clouding objective analysis, but I posit that it is still possible to be impartial.

Nov 21, 2017 - Since then, only about 10 million new ETH can be mined by miners per year. Today, three years after its launch, all the coins in the genesis block (block 0) still represent more than half of all the coins available. This makes the coin distribution of Ethereum questionable. For example, at the time of the DAO. Minimum MonaCoin MONA To Buy. In Bitcoin, the total supply is capped at 21 million BTC. Is the total supply of Ether capped? How much will be mined before the Proof of Stake (POS) transition, and. Hence, there is already an exponential slowdown in the growth of the ETH supply built into the protocol; my script shows. With time the mining difficulty increases exponentially and will bring the network to a halt. The idea behind this is. Bitcoin was trying to preserve value by having a set cap of 21 million BTC. Jun 7, 2017 - In fact, Bitcoin has a hard coin supply cap of 21 million BTC. Ethereum has over 92 million coins in circulation, with more being mined every day. Even when Ethereum switches to. Not knowing how many ETH will be in circulation at its peak is somewhat disconcerting. A lot of Ethereum enthusiasts will.

– Mar 11 '16 at 0:00 •. The issuance model is not fixed yet.

It is an ongoing discussion whether or not the costs for the consensus needs to be financed by inflation that basically taxes every coin holder or if transaction fees are sufficient. Please note that the costs for secure consensus are much lower with Casper compared to current proof of work. More details For this reason it is guaranteed, that the current issuance amount will not be increased and might even drop to 0. Another ongoing discussion is whether or not issues of new coins should be used to fund ongoing development.

A prerequisites for this would be a DAO with a widely accepted mechanism to control spending of funds effectively. But also in this case the newly issued coins would not increase.

This is my review after upgrading my BTC mining to 10.16 TH/s with Genesis Mining. This post is based on my experience and results thus far with Genesis Mining. This post is not meant to be investment advice. Your results may vary based on the many factors associated with cryptocurrency mining contracts. This post is an update to my ' post made 7 days ago. Why Bitcoin Mining Bitcoin mining will continue until the number of Bitcoins reaches 21 million. It is estimated that the last Bitcoin will be mined in the year 2140.

The Bitcoin mining contract offered by is a lifetime contract. Next Halving Bitcoin halving events occur every 210,000 blocks, roughly every four years. The clock currently has the next having occurring in June of 2020. I was Bitcoin mining during the last Bitcoin halving. Yes, my payout did get cut in half but it recovered when the price of Bitcoin rose. Consistent Stream of Income I have been mining with since June 2016.

Mining with Genesis has given me a consistent daily income stream. And that is my goal to have a consistent income stream. Current Hash Power and Returns I initially started Bitcoin mining at with 0.15 TH/s. After about 7 months at this rate to assess the viability and reliability of, I decided to upgrade my hash rate. I bought a contract to add 10 TH/s to my overall hash rate for mining Bitcoin. A fellow Steemian was kind enough to use my affiliate promotion code, Q1MYO7, for a 3% discount off their upgrade purchase.

Their upgrade purchase gave me another 0.01 TH/s of hash power. The current price of Bitcoin at the time I am writing this post is $922.64 USD per Bitcoin. The following chart shows my last six payouts.

'Payout (USD)' is the price quoted at the time of the payout. Payout Date Payout (BTC) Payout (USD) Current Price (USD) 24-Jan-17 0.00336605 $3.08 $3.11 25-Jan-17 0.00330297 $2.96 $3.05 26-Jan-17 0.00326057 $2.95 $3.01 27-Jan-17 0.00332719 $3.06 $3.07 28-Jan-17 0.00337444 $3.11 $3.11 29-Jan-17 0.00335673 $3.10 $3.10 My average daily payout with 10.16 TH/s has been 0.00333133 BTC.

In the following graph I plotted the individual daily payouts with the mean and upper/lower statistical limits (USL/LSL) two standard deviations from the mean. Created Using MS Excel The past six BTC payouts since upgrading to 10.16 TH/s have been consistent. I will continue to watch the payout consistency. Of course the next halving event will reduce the BTC payout. Based on these statistics I estimate I will recover my initial investment in 446 days or 20 April 2018 which is well before the next halving event.

The following chart to examines the long term potential payouts. I used the following assumptions: • Halving events occur in May every four years, 2020, 2024, and 2028. • The price of Bitcoin in terms of USD doubles every four years. Here is my last update: My best days of mining with Genesis Mining contracts are $70 USD/day when BTC is reaching new highs. My average daily payout from Genesis Mining is now between $50 to $60 USD/day. There was a week where Genesis Mining postponed payments due to an intrusion by a hacker.

Payouts have resumed and from what I am seeing, the Genesis Mining payouts are catching up. Just based on my payouts, I can imagine Genesis Mining daily payouts are in the millions of dollars. If I were paying out that much, I would want to do a careful audit too before distributing the payouts. To my friends and anyone who asks, I recommend the BTC and X11 (Dash) mining contracts at Genesis Mining. They ran out of X11 hash power to sell, but it should be available again in the near future.

I have an Ether Mining contract(s) with Genesis, but do not think I will break even. This is why I do not recommend those contracts.

If ETH spikes up to $1,000 USD in price, the contract may payout better. I do not think that will happen.

If the X11 contracts are not available in August when I start my upgrade cycle again, I will be upgrading my BTC mining contracts. At my current rate of return, I will break even on those mining contracts well before the next BTC halving event.

That's my current update. Have a great weekend! Steem on, Mike.

Thanks for the update. I still feel there is much opportunity to lose money if conditions are not favorable all the time. If the price of lets say $BTC drops for 6 months, then payouts will drop significantly. Do you know what the time decay looks like on a 2 year contract. For example, how much do daily payments drop on the last month of the 2 year contract vs the first month on the contract? What is the profit margin on $BTC mining until break even? I'm still trying to understand why cloud mining is not a gamble and a good way to lose money in uncertain market conditions.

Any additional insights by the Steem community would be very helpful for me to better understand how cloud mining works. I do expect the returns to dwindle in terms of number of coins mined over time as the difficulty rises. But I also expect that to be compensated for or even eclipsed by the rising price of BTC in USD over time. The biggest hurdle to BTC mining is the next halving in June 2020. I think the return on investment will be fine as long as BTC contracts are bought at least two years before June 2020.

At least for the rest of this year, I will continue to purchase BTC mining contracts from Genesis Mining. Have a great weekend! Steem on, Mike. Hi etcmike & everyone else. Hashflare.io have some BTC contracts available still.

(Feel free to use my referral link here ). I don't believe it gives you any discounts tho:(. I have one question regarding Genesis-Mining and their Ethereum farm. What will happen when Ethereum goes PoS? I hope they have a backup plan because they advertise that they have the largest Ethereum mining farm in the world. It make me a bit skeptical on what they are going to do and how it will affect their overall operations.

Thank you for that insightful post. I'm also mining at genesis, but I see steadily decreasing my payouts (due to rising difficulty).

I've calculated that I won't reach break-even (in terms of invested BTC) if payouts continue to decrease like this. What have been your experiences so far? Did you net the amount of BTC that you have invested? I feel like you have to upgrade constantly (and rely on promo-codes), otherwise you won't be able to gain profit. Is it just me or did you make a similar experience? Have a nice day!

Before people started giving me their promo codes to add to my rotation list, I would have happily taken you up on your offer. Since I have so many people on my rotation list, my upgrades are at the lower end (up to ~ $100) so that I can get through my rotation list and help more people. Thank you for the offer, but I promised to use the codes in my rotation list. I try to keep my promises. I would be glad to add you to my rotation list and will let you know when I use your code. Have a great weekend! Steem on, Mike.

One of the first contracts I bought on GM was a 1-year (yes, one year) Ether mining contract. I LOST MONEY on that contract, to the tune of over $100 USD. I put a little money (several hundred dollars) into GM and after losing everything in HashOcean. I let the money ride in GM for about six months to assess the viability of GM and the payouts.

I have not bought any Monero contracts from GM. The Monero contracts I have are from people using my promo code to buy Monero contracts. I direct the money to Litecoin, because I think it has more potential than Monero in the near-term (I could be wrong). I upgraded my BTC contracts before the price rise in BTC. This made a huge difference in the payouts. The testing I did with the GM contracts showed me that the X11 contracts were paying out well.

Before my latest round of upgrades of X11, I had a profit with about a year left on the contracts. This is why I have been upgrading my X11 contracts. Recently a fellow steemian made me aware of CoinWarz That website gives you an idea of the mining potential of different cryptocurrencies. I hope you have better returns in the your future endeavors! Have a great week! Steem on, Mike. I do not give investment advice, but do share my experiences and what I am doing.

Currently at Genesis Mining I have Bitcoin, X11, Ether, and Monero mining contracts. I only have the Monero mining contract as a referral reward, I did not personally buy it. During my latest round of upgrades I have been purchasing Bitcoin and X11 mining contracts. In terms of payouts from Genesis Mining, I have my Ether mining contract paying out in ETC and the other mining contracts paying out in LTC. Later this year I intend to set the Bitcoin mining contract to payout in BTC. You can go to CoinWarz to see their estimates for mining profitability. Have a great week!

Steem on, Mike. I have found that it depends how you pay for the upgrade. If you use USD then there is no difference in my opinion. When I used a cryptocurrency to upgrade, I have found that buying a larger amount is beneficial. It mostly has to do with the number of decimal places allowed for the cryptocurreny transaction.

For example, when buying an upgrade with BTC the BTC price is down to three decimals. Obviously, as the BTC price increases there is quite a difference between decimal figures. Have a great weekend! Steem on, Mike. As BTC has skyrocketed, so has the payouts from Genesis Mining BTC contracts.

However, I must say that stagnation or decline in the BTC price does reduce payouts. I just started looking into how to file my BTC cashouts with the IRS. Looks like I will declaring a nice gain from this year.

The Genesis Mining BTC contract has been a great deal for me. In 2018, it will generate additional gains for me in my first full year of retirement. I am very happy with Genesis Mining. Is it better to just buy and hold BTC or buy the Genesis Mining Open Ended BTC contract? I will say that if you think the BTC price will appreciate greatly over a short period of time, then it is better to buy and hold BTC. However, if you think the BTC price will rise gradually over time, then buying the BTC mining contract may make sense.

For myself, I am holding BTC because I believe BTC, LTC, and ETH as well as others will be appreciating quite a bit in the next 6 months. However, I will be increasing my upgrading my BTC contract with Genesis Mining too.

Over the course of time, I am building a portfolio that takes advantage of price appreciation as well as provides a passive income. The Genesis Mining BTC contract fits nicely in the mix. I am looking for BTC at $10k very soon, followed by $13k in the 1st qtr of 2018, then $20k in the 2nd/3rd qtr of 2018. The next BTC halving event is around June/July 2020. In my opionion, you need to be in the BTC contract two years prior to the halving to get a return on your contract. Of course there are a lot of factors affecting your payout but the halving event will cut your payout in half. I will not be buying any more BTC upgrades after June/July 2018.

You may want to look at some of my other posts on ICO's like SPECTRE (still in ICO at this time) as a possible passive income play. All I can do is tell you what I am doing. This is not investment advice.

These are just my opinions. If you have Genesis send you the payouts in BTC you have the option of sending you payouts to: • your SteemIt (power up address) which will convert it to STEEM Power • your SteemIt (STEEM buy address) which will convert it to STEEM • your Coinbase (wallet address) I am currently sending my Genesis Mining (Bitcoin) payouts to my wallet. I let the payouts accumulate there until I am ready to make further transactions. Currently provides wallets for Bitcoin, Ethereum, and US Dollars.

Coinbase has worked well for me. I have never had a problem with micro-payments. Some of my recent transfers to Coinbase have been as small as $0.17 USD. Becoming A BURST Miner. Steem on, Mike. Yes, there are different types of contracts available. I currently have a one-year Ether contract that will not reach break even before the contract expires.

My return on investment will be negative. I also have a two-year X11 contract that I am currently projecting to reach break even before the contract expires. My return on investment will be positive. For the BTC lifetime contract I project I will reach the break even point 20 April 2018.

Then for as long as BTC mining continues, I will continue to get an income from the lifetime contract. You are correct that Genesis Mining does not guarantee any amount of income from the contract. That is why I only dipped my toes into the mining contracts to assess their consistency and reliability.

Thanks for your comment, Steem on, Mike. NiceHash looks interesting. Genesis Mining has an X11 contract that switches to the most profitable altcoin mining too.

My X11 contract from Genesis is doing very well but it is a two-year contract. Setting up a mining rig in my home is not an option. Electricity would have to be nearly free to make it viable. The heat byproduct from the rig would only be welcome about 3 months out of the year.

The rest of the year the rig would need to be kept cool so that it did not heat the home. Electricity for cooling is expensive here. While my goal is 33 TH/s, I do not plan to upgrade to that hash power in one transaction.

I will upgrade my hash power by one step then monitor it before deciding to continue. I will be assessing the long-term viability and reliability of payouts. There are various factors involved that include Genesis Mining itself and the feasibility of mining BTC. At this point I am ready to take the next step to purchase more hash power but not go all the way to 33 TH/s in the next step.

Thanks for the comments and making me aware of NiceHash, Mike. Based on these statistics I estimate I will recover my initial investment in 446 days or 20 April 2018 which is well before the next halving event. Except more and more hash power will be added making your 10th return less over time extending the period out to where you will never break even. All cloud mining is a scam. If it were profitable they would just mine for themselves and keep it. And before you say you will make your investment back if the price of bitcoin increases you would do the same by just buying and holding.

I have seen crypto mining companies that were scams. That is why I only dip my toes in for a period of time to assess the consistency and reliability of the mining before investing more. Then assessing the consistency and reliability of the mining again.

I do believe that there is risk and that is why I keep reassessing my investment. I do have a short term X11 mining contract with Genesis mining that is projected to reach the break even point before the contract ends. The lifetime BTC mining contract has the greatest potential to deliver continued payouts well after the break even point.

I appreciate your warning and will continue to monitor my investments. Just like I monitor my investments in STEEM, Bitcoin, stocks, and mutual funds. Steem on, Mike.