Bitcoin Forum

is genesis-mining.com worth investing in?

I've never visited it yet, but always remember don't try invest any investment site that says that they will give some percentage of your invested bitcoin. This look like a ponzi site.

always use google first to find the reviews, a quick search turns out this topic: https://bitcointalk.org/index.php?topic=1185909.0

and also if you want my opinion, regardless of this particular site i don't think cloudmining is ever profitable or even a wise investment. you will always end up regretting it either because of the ROI or the scams they pull on you.

Stay away from cloud mining services. The times that they were profitable are long gone. Especially now the havling has happened and they need to reinvest in the new miner generation to stay competetive.

Most recent cloud mining ventures have either:

1) been a scam. Site closed, funds stolen, lost, etc.
2) not been profitable

The risk is simply too big now and I would rather buy my bitcoin directly rather than risk cloud mining them.

That's why I came here. :)


eh... ok, I've figured to ask here before investing anything.

Just search for hashocean and cldmine and find out how they collapse or scams millions of dollar/bitcoin in the name of cloud mining. And i also doubt genesis may also follow same pattern or they may shut down mining operation indicating it is not profitable or some they got hack types fake announcements. Better not to invest in any cloud mining sites, all of them give very little return and risk of lossing all you have invested is also very high.

I would shorten your message to this... There is no opportunies out there, there is no magic investment site that will give u huge profits.
There is no mining investment that will give you profit.

Best investment? Hold your bitcoins man.

Depends on you if you believe in a few years bitcoin price exceeds the current price might be worth it because to be able to benefit from the investment there after 2 years if I'm not mistaken.

Just stay away from cloud mining and if you want to do some mining yourself I would recommending buying your own hardware as at least you know you're money is actually going to use.

RESEARCH AWAY!

hashnest was worth investing in, IIRC. They branch off of BITMAIN and are unlikely to scam. Although I wouldn't advise investing in cloud mining in general, due to the fact that there are some other opportunities that may be better. Like working.

Do NOT invest in any of their contract.
You will lose your money. Genesis mining is a huge scam.

Feel free to read this scam accusation thread : https://bitcointalk.org/index.php?topic=1185909.0

Yup, by "investing" with them, one basically gives them money free of charge to build their rigs and expand their farms. Really great plan, if you re Genesis Mining!

No, it's not good to invest on this business.

Many complains about this service, people are investing there and each new day the profit is lower and lower;
Genesis-Mining took too many fees from your profit;
Investors would like to know more informations about the cloud mining, and they refuse to give it.

Makes no sense to invest there. Probably you will never get back the amount of BTCs you sent to them. What can happen to make you profit, is if BTC price increases, in the middle time your money is in their business. Example: you invested 2 BTC ($700) in January, until after 1 year you received 1 BTC ($700).

Because of it some investors say they got ROI, but just because the BTC price increased, but they don't count if they just holded the BTCs, they would have $1400 on the example above.

IT is never a good idea to put your money in some cloud mining services online because most of them are scammers. Even though genesis mining does not bring a lot of profit to the user like it used to before the halving, we can not ensure when it will collapse and run away with investors's money. Please do not involve to this kind of projects

Nope, You can see the comparison of Genesis mining right now.
https://bitcointalk.org/index.php?topic=1700564.0
It's not worth.
I doubtful with his ROI, you may never get your first capital after investing in there, you just buy a power, and it waste a lot of your time.