Bitcoin Forum

Hi

After I got a little profit form hashocean (before it's gone).
I wanna invest on cloud mining again.
https://www.genesis-mining.com/

What are your guy thinking about this site.

Ty for all comment.

Ok,  answer me this.  All these mining companies have hardware which they either rent or own.  If you can make profit by renting the miners from them then why don't they just mine the coins themselves?

I wouldn't put any money into any of these,  im not sure how anyone makes a profit from them.  I doubt they do.

but what if this time you wont make any profit before its gone? cloud mining is a risky buisness

you know what happened to hashocean right? so you still want to take this huge risk of losing money?! that sounds a little strange to me.
but if you want to gamble, then why  are you asking us here about it, just take the risk and lost money.

Investing on cloud mining isn't a good idea. If you want to invest, its a better idea buying bitcoins directly not buying shares or miners to receive bitcoins that you didn't know if you will receive them or how much you will receive.

If you really want to invest your money on genesis-mining even you already know what happened to hashocean before well i would like to say goodluck to you . But if you have a doubt you can change your decision because we all know that these cloud mining are also have too much risk not only hyips . Genesis-Mining has its name sounds good but i don't know how many years would they be operating .

You made profit from hashocean?Lol.You are the only one  ;D

Never heard of this genesis-mining thing.If it`s new, then it`s 99% posibility to be scam.

I stay away from cloud mining,don`t know about you...

Cloud mining is always a very bad idea!
All those cloud miners are scam. Sooner or later they will close their site and run off with all the coins they have.
You would be better advised to just keep your bitcoins.
Or, if you are a gambling type, invest them into a little bit more volatile currency, like ether is at the moment.

Look with the halving all clouds has reduced their income from the hash you own, what you should roi in 6 months has become a roi into 4 years already soo, no dont use any cloud, better try luck exchange it then invest into cloud.

Genesis Mining has no way for you to sell your hashing power. Once you buy you own it. At least Hashnest and BW.com have their own exchanges where you can sell if you want.

no, he is not... i've made a good profit with hashocean too.


simple, the hardware is yours, not theirs(assuming a true mining). Which makes the ROI yours, not theirs. why is that good? because they dont have any risks, if anything happens you are the one losing.
and if any problem happens, YOUR hardware is there and they probably will sell it and run away.


i wouldnt do that, at least not now.
bitcoins is "underpriced", we might see a new bubble at any time so if you are willing to buy a hardware with bitcoins, it better to do it when bitcoin is overpriced. after the halving, everyone is complaining about genesis payiments.

last time people has disappointed with hashocean because they could not get their money back and i think those cloud mining will be scam soon so save your money don't ever tempted with their offers because they will be dissapear in the end with your money into their pocket

I suggest to leave all cloud mining sites because now a days mining Is not profitable because of halving and all cloud mining sites are turning into scam. So I will suggest you to Stay away from genisis-mining....

I suggest you not to trust any of the cloud mining sites including this genesis mining as usually these type of mining site offer larger amount of mining capacity compared to what they actually own. And in most of the case they even don't own any real mining hardware under their company.

Talking about genesis mining, their price is quite high almost double than good price to buy these days because recently block reward has been halved. If you like to take risk than wait for few more months or weeks when they will lowered their contract price or just neglect them and other cloud mining sites all of them are not profitable and very risky.

I purchased some hashing power from Genesis (350 GHs SHA and 5 MHs X11) to see if / how well they deliver.
So far my earnings have been accruing daily - albeit each day is a few satoshi less than the day before. I have
not yet made a withdrawal, however.

One thing to note - depending on how you purchased your hashing power (I used my credit card) - they may
hold your earnings for 30 days before you can withdraw it.

I suggest that go in trading is much better than investing in some cloud mining sites that most probably are ponzi schemes and get scam people soon as they got their quota.

i would definitely not invest into it, especially the bitcoin halving happened and you would mine way less bitcoins right now, and it would take a lot of time to make roi

Well, in theory these companies use your money to buy hardware and they host it in their mining farms and then give you a percentage of the coins that are mined. Over time, you should get a ROI or

even some profit. The reality is, most of these companies take your investment and then pay other people. A typical Ponzi type funding scheme.. When enough money has been skimmed from the top,

these companies close down and run with the bulk of people's investments.  :o

My earnings went down significantly after the halving, so I don't really think it's a good idea to invest, unless the price rapidly rises again.
That said, they're one of the most transparant cloud mining providers out there, so chances of them scamming you are pretty low.

Other than your pocket..every where you invest always their risk for your money..before investing try to think, wheather you will make profit or not. If you are interested just invest after halving.Otherwise you won't earn much money.

Follow your heart what should you do it's your own risk no one will be benefit or lost its only you, but for my suggestion it's not a good idea + need 6months before you got roi long time hope you will get your roi if your join.

Genesis Mining might've been the most socially active Cloud Mining company in the bitcoin community. It has contributed a lot to the bitcoin promotion process as well as actively participated in the discussion of scaling bitcoin between market leaders. That has gained Genesis Mining an unparalleled reputation in the Cloud Mining industry.

But the most important thing is it is an AMAZING platform with a lot of awesome features and benefits to invest in. I have tried Genesis Mining myself and make around 89% ROI per year, so I put together this review to share my experiences with Genesis Mining to you, bitcoin investors who are hungry for a Cloud Mining platform you can trust. Enjoy!

I joined Genesis past black Friday as there was a decent discount, I went for the X11 contract and have just made my roi but before halving my daily payouts started to drop and now hey are quite low it's not even worth it.

As you know, whatever you put into the crypto world you need to be prepared to lose it.

I already lost my trust on cloud mining sites when hashocean got scammed. It's up to you if you invest on Genesis seems it's also a good mining site

This time I don't think if it is still a good idea to invest. Genesis mining started to operate last 2014 and I can say that they really built trust with their investors. I also planned to invest into it before(early this year), it's just that I thought that halving is coming and the risk will be a little more higher. After so many cloud mining sites that turned to scam this year because of halving, I'm glad that genesis mining is still up, well even I don't have investment there. However, I still don't want to risk my money since I know that I will be waiting a long time to get my ROI especially since mining activity nowadays will be a little bit harder. The decision will still be yours, follow your heart, know the risk and be ready on the things that might happen. Good luck to you :)

It is not recommended now , because the profit rates have been reduced , and the rates are very low now , I wonder why you want to join a cloud mining now while all other members who joined before regret their joining , I hope you think twice before putting your money there .

Don't invest in any cloudmining service. Never.

No matter how long they were in the business, no matter how good they are, no matter how many happy customers they have; ignore that investment option for all costs.

They will rip you off and get away with your money in the end.

Genesis-Mining will not shut down in near future, not at all. BUT, you'll never get any ROI, due to their mining services. Cloud-mining there not recommended by me.

Investing in a cloud mining site is worst thing you can do these ponzis will collapse sooner or later and you will lose everything.But even if you earn some money these profits will be from newer member's deposits who never got their seed money back,how comfortable do you feel with this?personally i would feel ashamed.

A newbie with -2 account rep and 2 posts asking if Genesis mining is good? let's assume you aren't actually a shill. No, cloud mining is NEVER a good idea.

Before you make Investment on cloud mining service, you must understand that mostly of cloud mining are scamer. You can make Investment on there with you can lost it.

No, investing in a cloud mining site after the bitcoin halving and all the cloud mining ponzis that have been exposed is not a good idea.

It is incredibly risky to invest in a cloud mining site especially one without a reputable owner on this thread.

every one says genesis- mining  site is legit but not sure , similarly some one suggested hashocean is legit site but now everyone knows  hashocean site is turned scam , always cloud mining sites are risky and any time go scam.Best is to research on this forum before investing on any such sites :)

Genisis-mining is real company but nowadays they are not reallly recomendable to invest your money their because they are now ponzi and their miners are not very profitable for todata block difficulty, thats why leave we must leave that site and dont invest even single pennies in there because that conpany is struggling with many issue of their investor that still didnt get their roi for long time investing on that site.

Cloud mining mining site is not a good site to invest now because of bitcoin halving effect. Trading is the best opportunity to get some btc because our has a high price as of now

Genesis mining is legit and trusty company as I think , it has a real mining devices , but its location is unknown , however , I don't like investing in cloud mining , because the profit is too low , so when you put your money there , you must forget about it for long time .

no i don't think  so ..because due to correct reward and price for bitcoin will not advice to invest in sah256 as it will take more then 3 year to get to roi ..but not sure about x11 ..

But for eth it also take 8 month to get roi ..

so better to hold you btc and wait for price to increase and then try to invest

You wanna know what is genesis mining? a very pure scam operation company just taking your money and give you back just some dust.
Not worth the risk at all, better to do some trades or just hold your coins it's better to regret it later.

There is no reason to follow your heart OP. If you google genesis mining you can see that they are involved in shady things
- Screw their customers with Scrypt mining
- Screw their customers with fees; SHA, Scrypt and X11

And worst of all, there is no ROI if you buy their contracts.

I can't believe that I am reading this. There are so many many many threads about genesis mining.
And no, most of them are bad, very bad. Which means you would lose money if you trust your money with them.

Forget cloud mining all together and find a decent project/investment for your money.

Its everything that has been mentioned already.

But to simply put in very that anyone can understand - if  operator doesnt manufacture asics itself then just avoid the headache. Youre also running the risk of these bulk resellers to fork in when the prices dont add up in their books but claim they have the hardware as well wouldnt add up in growth.

Because theres a delayed time of these machines arriving to their destination - and time senstive operations like this it would have to be something similar to bitmain.

a long time ago, there are topics is discuss genesis mining, but many people say they are a scam. it's just opinions from another people. So, let try to look at the history of genesis mining and previous discuss them like. https://bitcointalk.org/index.php?topic=1185909.0 finding your answer from that and using your effort to get another specification discuss genesis mining.

If you want to try cloud mining better think twice as most cloud mining out there are just ponzi's pretending to be mining. Even the somewhat legit Bitmains Hashnest have negative feedback about cash outs not processed on time. There are other ways to earn Bitcoin, don't dive in cloud mining.

From my experience don't invest in any cloud mining even itstrue mining company just my suggestion just be careful with your money and another thing many says that cloud mining ia not profitable for now.

Just getting some information from a previous discussion on this place, maybe it's will be a reliable and good consideration for you. my suggestion just avoids everything having relationships with the sentences of cloud mining.
https://bitcointalk.org/index.php?topic=1185909.0

Genisis mining is paying out since a while, but after the HashOcean big scam , i don't advice anybody to take this risk and investing in the so called "cloud mining" sites.

Apart from the payout just think about it. There are a lot of threads saying cloud mining is a scam and if you search more you will find Genesis Mining being a scam.
Count 1 on 1 together and you know it's bad to invest with Genesis Mining.

Isn't almost all cloud mining a scam these days? Or you would be better off just buying the coins outright.

No dude..... No.... There is nothing wrong with the business model it makes perfect sense.

How are you going to buy mining rigs without money ? From investors that's how. Yes you can buy them yourself but eventually you run out of money. So you  get money from investors. Slowly adding more hash power. The returns these guys offer are nonesemse. Go do a quick calculation and you will see the prices vs the returns they offer make no sense and dont even factor in the cost of the investors interest and that is because these miners they talk about dont even exist.

Its not the method that's wrong because the scammers dont follow these methods. They just run a ponzi and use whatever is popular at the time to spin their bs story.

There so many people here in this people that all cloudmining sites are scam and even genisis mining got bad review from their investors thats why its not good choice to invest really in their and thats the big reason that you must be aware to think twice on investing on them, genisis mining got bad review to their investors and that scenario you can consider really that investing at them is not a wiser choice for us in that company.