Bitcoin Forum

I'm newbie here,Are there any legit bitcoin mining company or basically most of them are just scam.

Most of them do actually turn out to be scammers (sooner or later) but so far, Hashnest has been somehow acceptable (although with a lot of issues, that you can read on their thread).
Website: https://www.hashnest.com/?locale=en
ANN thread: https://bitcointalk.org/index.php?topic=766448.0

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As much as possible, stay away from such websites and buy the mining rig instead (this way, you'll have full control over it [in case you've got a cheap electricity rate].)

Have been using eobot and hashflare for a long time now
Don't use genesis-mining
https://www.eobot.com/user/265480 (https://www.eobot.com/user/265480)
https://hashflare.io/r/5A70BA80 (https://hashflare.io/r/5A70BA80)

Base on my analysis and experience most of the mining site are good at first but in the long run they will run and take all the investment by many users that is why if you will enter in the mining site and want to invest make sure that site are new and fresh with few investors but if they see they will have lot of investor and collect more bitcoin that is the time mining sites turning to scam because they do not have real mining sites.

It is VERY rare that a cloud mining site will earn you much if any profit - keep in mind that if they could earn more from just mining, they WOULD be.

 The Bitmain-based stuff has proven to be reputable, but my first statement still applies.

 Don't confuse "pools" like Eligius and Slush with cloud mining sites like Hashnest.
 NOT the same thing at all.

They are not profitable at all. I have tried at least two of them untill now and both turned into unprofitable sites. They turn scam over the time because they are not able to bear the cost of electricity or equipment that they have at their end. Also send of them are just to make money by making others fool. So best way to earn is by doing real simple signature campaigns and Twitter campaigns and Facebook campaigns and much more. Also you can provide services in bitcoin form you will earn pretty decent money.

No, what happens is over time the difficulty rises and it eats into your profit until there is none left. Im pretty sure you have no clue how the whole system works. Also, best way to earn is to spam?

lol gosh if some is willing to go and spam people looking for spare bitcoin handouts they might as well just say frig it and take a cup and stand on a street corner and beg for spare change.   Some of them dudes are making 2x more then a good paying job pays and its all under the table and tax free to.

Whats the problem with genesis mining ?

I've been a happy miner mining with them

Maybe it's just my personal experience but it wasn't profitable for me, Hashflare is the only one being profitable for me

Well, im in it for the long run not short

Yeah, my personal experience. I invested $200 on each (genesis, hashflare, and eobot) I don't remember when but it was a long time, and the only one that seems profitable for me is hashflare

https://bitcointalk.org/index.php?topic=86854.0

@Lightz how long did it take before u saw profit on Hashflare?

I'd say around 6 to 7 months. I have withdrawn and kept re-investing.
My advice is to buy scrypt

I'm a beginner so i don't know one. But when I asked my brother he says the miner gate he is using it and he said he can make bitcoin using the miner gate he can also make ALT money using that app so i think it is legit because he is using it on almost three months since then and his money is growing.

The only proven 'cloud' mining company is genesis-mining. By proven I mean that they really have mining facilities in Europe. I've seen plenty of videos inside one of their mines and there even was a non bias documentary in one of their facilities. So it's definitely real. I'm not sure of the other ones (hashflare, hasing24,...). I recommend to always look for video footage of a company's facility to make sure you won't fall for  a scam.

Genesis mining is a proven cloud mining company. But, it's not profitable on Bitcoin mining anymore. ROI takes too long...

Jesus christ, they only have lifetime contracts for bitcoins, receiving bitcoin for the rest of your life is not profitable ? How is that ? Plus, assuming the price will continue to rise in the following years

The majority of these sites will turn out to be bad ones, it will take you a long time to get a return though, I haved used Genesis Mining but wouldn't rush back to any bitcoin cloud mining.

I found it better trading against alt coins.

They also take a electricity fee, once the electricity fee is over the mining profit they stop paying you

Is bitcoinpro.life legit ? Im almost a month waiting for my withdrawal.

i think 90% of the mining companies are just scam so you must be careful.But still i think there are a couple of legit ones.
Currently i have contracts on hashflare and genesis mining since 2 months and they are paying me daily,and i think these two are legit ones.

guys ......................


what about this company ?


http://splititmining.com/



its cloud mining n i think they r until now not scam
any info to know if they r scam or not ?
thnx

Just use trusted one's such as hashflare or genesis
For me the only one profitable was hashflare

You are really the one who says that, everyone says bad words on them, even it was almost impossible to get roi from them at the very begining and now it sounds really funny. Their bitcoin mining contract sucks, can't say something about zcash.
OP currently hashnest is the only real cloud mining but also hashing24 has officially contract with bitfury but still can't say how safe they are.

There are some bitcoin mining company that is legit at first, but turned out to be a scam. Most of them is like that. If you want to get rid of those scammers and you want to mine btc your own, try buying Mining Rig. Tho it's expensive, but if you want to have full control of your money, it's worth it.

can someone explain to me what you do once register in hashflash?how can you start generating this bitcoin?I will be glad if someone can explain to me

You mean hashflare? you just go to your left panel and buy the hashrate from there

what do found after you buy the script for 15.50dolars?I am new here and I will want to buy it but don't know what to do next after buying it

thank you for your time but what do you do after the purchase for the bitcoin to be accumulated in your account ?what is your job to do after purchasing?I am asking this because I am new but serious about making a living with cryptocurrency

have you ever withdraw from this ?I was giclven this site today and I have already register but want to clear the air as I don't want to do any thing stupit

i only know one company that its legit depend on the other cloud mining which is hashnest. hashnest is the one of the old cloud mining company that still exist until right now and they still operate their cloud mining and reach big members on their sites. they are sell mining hardware for the members and they are very legit for me. i have some hashrate with them for at least 3 years and its works good for me until now but i am not yet buying their hardware because for now, for mining bitcoin is really difficult if we only have small hashrate and its better to stay with them.

That site is a ponzi. Don't expect for him to withdraw regularly. Maybe he managed to withdraw in first try but eventually that site will turn to scam.

Your not going to "make a living" by wasting money on "Mining Contracts",those guys have it figured out,you MAY break even,but more than likely not.

You gotta buy hardware...be it video cards or scrypt miners,stay away from mining Bitcoin,diff & corp miners are killing home mining.............

thanks for the update,I am still researching on what next   to invest my time in cryptocurrency

Recently started with hash flare.io Is it worth investing? The has rates seems to be working very slow. My current plan is 846 GHz/s What do you think of this rate? How much I can earn with this rate. I tried some math with calculators available for hashing rate. And the earning seems to be $ 280 per year with current rate.

Also, do they pay on time? The minimum was 0.00004 previously now due to fees they have brought it up to 0.001 btw. Thats just too much. Please let me know about my question as you said you are enrolled with them since long time.

My last withdrawl was last year and haven't withdrawn since because I've gotten most of the investment back so I just leaved the auto re-invest till now

regarding about more cloud mining such as scam or spam also you wasting for time to get some earn, common looking some legit mining goods but not using at all time where you profit or lossing time take more see under forum of bitcointalk and suggest how to earn easy without mining. take moonliteco.in

Im using Genesis Mining. I am satisfied with it. Payouts are daily and they are quick to get a hold of should you have any questions or issues.
With that being said, dont expect to make a quick buck. Im sitting at around 7-8 months to get even, nonetheless its still has some potential and you wont have to deal with the excess heat and noise the miners make :D

They recently ran out of Bitcoin contracts,any idea when there will be new ones ?

They had it back for order last night. I ordered my new contract this morning, so should still be available.

Should I  buy one of these contracts or IOTA token ? just looking for someone else opinion

Im fairly new to IOTA, so cant really give you any good opinion here. (Actually made my first wallet there a couple of hours ago) It seems really interesting and i will have to get stuck in.
With the BTC-mining, it really depends on how much you are wanting to spend. Genesis operate with a Maintenance fee of $0.00028 pr GH/s every day. Take for example their "diamond plan" at 15000 GH/s ($1950), it adds up to roughly $4 a day in fee's, so that would give you around $10-11 profit each day, $75 odd a week. With the difficulty increasing you could look at 10 months to get even maybe longer. (Im not sure if Hashflare is any better there?) The contracts they have for BTC is "Open ended", so can potentially give you a steady income further down the road. Although there are no guarantees that it will. For all we know, the BTC market can go tits up within a short period, but then again it can also skyrocket. Personally I believe BTC will rise massively in the coming year and this is only the start of BTC glory. For me I think its is a good investement. I could be totally wrong, but that is my opinion.

not 15000GH , I was thinking about 40 TH

Weren't they all becoming scams already like Cloud mining? They all had scammed thousands of users specially the Hashocean. The only I've that's legit by far is the HaoBTC from China which also asked 10BTC for joiners to receive dividends from them. Check them out here https://bitcointalk.org/index.php?topic=1023187.0

With the 40 th/s one, you are looking at around $11.2 /day in the maintenance fee. Basicly 1/4 of your income on the mining-contract goes out in fees.

  hmm,but inthe long term investment it would be worth it, right ?

It could definitely be worth it. I believe so, but opinions are like arseholes, everyone got one  ;)

Try with hash flare. Seems to be good site for beginners and you can buy as low as 0.03 TH/s mining rate. This will give you 10 dollars per year !

That is just lowest possible math I'm telling you. It always good to buy pretty higher rates probably in 2-5 TH/s this will make you fortune worth 500-600 dollars yearly with current difficulties.

cloud mining is about outdated you can try using gpu
or maybe asic but less profit i think now,
best way for you is trading maybe

Disagree, future cloud mining will get a kick out of this 

http://www.tweaktown.com/news/57896/amd-nvidia-making-cryptocurrency-mining-cards/index.html

I invested $2,700 in Hashflare Lifetime Bitcoin (Scrypt, not SHA-256) mining with 200 MH/s recently.
With Scrypt, they actually mine Litecoin and convert them to Bitcoin at the prevailing LTC/BTC exchange rate.
This is very different from SHA-256 direct Bitcoin mining, which consumes a lot of electricity per TH/s.
The maintenance and electricity fee (MEF) for Scrypt is only $0.01 per MH/s. So my 200 MH/s plan MEF costs only $2,
compared to equivalent 20 TH/s SHA-256 hashrate at $7. ($0.35 per TH/s)
The lower MEF for Scrypt is the reason why the contract is much more profitable than a SHA-256 contract.

I will also be doing auto-reinvest like you.
The returns are pretty good as you say.  ;D

Investing $2,700 in cloud mining is alot, I only invested a little over $600 in it. If you hadn't invested my advice would be buying yourself the antminer L3+ and host it yourself if you can't then send it to a hosting center(link below) I currently host my machines with Jeffcolo
https://bitcointalk.org/index.php?topic=622998.0 (https://bitcointalk.org/index.php?topic=622998.0)

I did try to buy the Antminer L3+ but Bitmain isn't shipping yet.
Only in mid-July.

Just a advice since having a actual hardware miner gives you the advantage of selling it later and it gives you full control on where you want to mine and what you want to mine

I know, but an ASIC miner like the L3+ can only mine Litecoin and nothing else. Cannot switch to mine another coin.
In any case, a 504 MH/s Scrypt miner like the L3+ will payback itself in no time.  ;D

It's a scrypt miner so it can mine any scrypt coin not only litecoin, You can also sell it later if you decide to stop mining and you'll get your investment in no time as you said

Why do you guys always eat the cake and nothing is left for me? if anyone wants a promising legit mining company first of all check the blocks and see which one of the pools is mining the most of the blocks and follow it's trail to find their website and then check if they offer any cloud mining and invest, just please don't come here later to cry and complain about how unfair and inhumane they are :D

Oh yes, I forgot it is a Scrypt miner, so it can mine not only litecoin, but other Scrypt coins as well.
Thanks for pointing that out.

Its hard to find legit mining company and most of the cloud mining are scam. They are good at first but in the long run they will take all the money of their investors. That is why much better to do trading than to invest in mining.

Genesis mining is the only legitimate cloud mining company that I know. It has been proven to be legit since there has been a YouTuber who visited the mines in Iceland. So it's legitimate for sure but it's rather difficult to get ROI if you buy contracts with bitcoin.

You should have a look at Giga Watt.
The world’s first full-service mining solution provider. They seems very legit.

American Company based in Seattle.
The electricity cost is one of the cheapest in the world, offering Professional mining to people around the world.
They claimed to be the Best Home for your Mining. And that could be true so far.

If you care to look carefully, we are talking about buying hardware ASIC miners, not cloud mining.  ;D

I have visited their website.
They are still in the midst of an ICO.
There is nothing we can buy on their website.
We can only buy WTT tokens from the ICO.  ;D

You made a question and answered it yourself only. I think you know better side of the mining and you just want to confirm that mining is bad and it can't make you profitable anytime. Anyways, if you really want to mine then mine it yourself. But remember to set up good rig with at least 10 miners working for you. Of course the investment is big and you will have to wait two years to get your return of investments.  Try it on if you got money with you.

I'm also looking for mining companies but whatever I have read over this forum says that it's not good to invest I them. Most of them are scam or on the verge of scam. I believe we should not try this out. Even that would be regret situation if we do and turn as scam victim. Lolz

The only legitimate cloud mining site that I know of is genesis mining. It has been proven multiple times that they are legitimate and right now their most porfitable contract (Dash X11) is back in stock. I'm testing it out with a little investment and I hope to make back my money with a nice profit, we'll see.

i do prefer using mining rig also, somehow online mining company will reach out of full resources and there is nothing to do to upgrade the hardware else to scam the system, then running new system with new webs.

Maybe genesis mining and hashnice is what you can trust if you want cloud mining. But I do not recommend it because cloud mining is a system that can not be trusted. You better buy a rig, although with big capital but you can get a favorable result if doing mining with gpu. This one is the best way to do it, you can do it and get what you want.

I bought a mining contract with bit club network.A lot of people promote it because the affiliate marketing program they offer has the potential for passive income but I'm not doing that.

I invested $1500 US worth of bitcoin into the contract in November 2016 and today I've just about broken even with two years left on the contract. I should say however that the only reason I'm about even now is because both Bitcoin and Ethereum have seen dramatic jumps in price since I started with the contract.

If not for that I'd probably be down 70% or more. Since I bought the contract for three years and I've broken even I'm going to stick with it, especially because I've already spent the money.

That said I think most serious mining opportunities don't allow the general public to take a share. If you were making lots of money mining you wouldn't need to give anybody else the profit.If I would have spent my $1500 buying bitcoin or ether instead of the mining contract, I could have as much as $50,000 right now, so you have to consider The cost of taking an opportunity.

I can also say however that I don't regret it because I was brand-new to bitcoin in terms of actually owning some and there's no way I would have known about Ethereum's value when I started, Both in terms of what it offers technologically and the fact that the prices jumped thousands of percentage points this year.

Hope that helps!

I am working with hash flare currently. The pools are fluctuating a lot now a days. They have removed two pools from the project because it was not profitable to them. Now they have BW pools getting mined and I’m using the 870 TH/s rate currently. Invested a lot money and according to their visual calculator my ROI seems to be 1 years long. So you may wanna try it if you re patient and can hold your investment for atlas one year over there.

cloud mining sites everywhere

They all go down sooner or later it's a tough gig to run to my knowledge

Check it out here for more Legit and Scam sites on Bitcoin mining sites
http://www.scamshouters.com/ (http://www.scamshouters.com/)

Try out genesis mining or hash flare. I was in ambiguity before too but now I have read so much about them and they look far better than any other mining companies. Don’t try out any other than this as we don’t have positive trust about other. In this one I will suggest you hash flare from my side as I had invested and paid out two times. My hash rate is pretty low so it takes me around one month to reach the minimal threshold. Hope you will get some positive reply too. :-)

minergate.com mining online.   just bitcoin. cloud mining.  check it out.

Both of them do have a pretty good reputation in the world of mining. But cloud mining is not a solution for you to make a profit, there are still many ways that can be done. The easiest is to rent a rig, by doing that we can earn a greater income. And if you want a much better income then buying hardware mining is a very appropriate choice.

i am using both Hashflare and genesis-mining and have no problems what so ever with either of them. bought a small dash contract a little while ago and for now its looks good. hope i see it the right way :)

What nanohash and telcominer? Thinking to use them.

i am using genesis-mining and they are paying daily and u are profitable with ur contract always.

 BTC China Pool, BitFury, DiscusFish/P2Poo, and AntPool are among some legit BTC mining companies.

I invested in hashflare.io so far i haven't encountered any problems with them. The bad side in investing in mining company is that the ROI is very slow and there's always a chance that you will get scammed instead of profit in return. Its better to invest in trading than mining companies because the chance of getting profit is very high and you can withdraw your capital anytime you want.

You're better off mining alt coins. The difficulty is so high on Bitcoin it's not really worth it atm. If you want to do cloud mining I recommend miningrigrentals or Nicehash. I've made a profit a few times on Nicehash. Pick an alt coin that is profitable on Coinwarez and go to both sites and find the most affordable hash rate for that profitable coins algorithm and mine rent some hashing power. 

How can anyone say after research that they have a good reputation in the world of mining? Page 1 of google search on genesis trust/scam shows you a lot of unhappy people. Forum search here shows you ROI after many, many months which won't be reached as your contract will probably expire first. They have poor reputations in this world. Outside, with good marketing and PR, yes they are legitimate.

Im using hashflare service right now and keep profiting a little bit everyday.

I need to learn other crypto currency atm, whats good alt coin to mine now?

Genesis Mining has allowed a lot of us freedoms we've never experienced!!!

Do you use Genesis mining? How about contract? Can be upgrade or need to new contract?

You can purchase more harshpower and it will add up to the ones you currently already have acquired.

What is the deal with Genesis mining? Reading through this thread, some forum members swear by it, and there are others that think it is shyte. Can somebody please clarify if it is safe and advisable to invest there. Thanks in advance....

Its safe, for me its been working so far :)

There used to be semi-legit companies out there. I used to run one. But, unfortunately, bitcoin is no longer profitable to mine in the long term, unless you are Bitmain and make the hardware to mine the coins. We used to work directly with Bitmain, they were genius.

ETH mining may be profitable with Genesis, almost bought a few contracts right before skyrocketed. Wonder if that would have made ROI... hmm

Unfortunately, I purchased an ETH mining contract with Genesis Mining to get my feet wet in the cloud mining arena. However, the timing was less than fortuitous. I got hit with a double-whammy: increasing difficulty and rapidly decreasing prices. My date to ROI keeps getting pushed out further and further. Good thing it was a tiny investment since I probably won't see that investment gamble back.

The real deal is here: https://bitcointalk.org/index.php?topic=1914900.0

But you have to go full, as it is real. So there is no small investment. It's one miner minimum and the tokens to go with it.
That's a Legit Mining Company who is opening is door to miners from around the world.

https://giga-watt.com/
https://cryptonomos.com/wtt/

i know that genesis mining and hashnest is legit even for now, they still legit. but for getting profitable with that two company, i think its really difficult for now because bitcoin itself is increase the difficulty and if you don't have big hashrate then you can not make profit.

No matter what mining companies are legit as long as they are profitable themselves. This primarily depends on how they are bearing the cost of maintenance and electricity. On top of this their performance needs to stubborn whenever the network difficulty is increasing day by day. If they loos control over any of these factors then start moving downwards in terms of profits. This indirectly effects our earning and to be specific our ROI which then takes even longer than what it was before. The question is do we really earn from them if we skip the expiration date of our contract say by reinvesting our daily earning from the contract itself. Is there really a point where our threshold reaches and finally pays us back?

Look around the internet not just for all those people whining or praising: look for proof of earnings. You will find also honest reviews from reputable websites like 99bitcoins. They will show you proof that genesis is legitimate, but NOT profitable.

Most people are praising it to get referral fees.

It doesnt matter, you will profit if your a long term holder, no matter the investment.

Genesis mining is the most legit one available. I more recommend to mine yourself. It's cheaper and you will earn way more profit.

Agreed, not to mention that you will have MUCH more transparency with your investment.

Try with eobot, Hashflare, Eligius, Slush pool, BTCC, GBMiners, and MiningHub. Few links;
https://www.eobot.com
https://hashflare.io/r/5A70BA80
https://eligiusmining.com/login
https://slushpool.com

To be very honest on the basis of my experience I find genesis mining is better option than other mining companies

They are not profitable at all. I have tried at least two of them untill now and both turned into unprofitable sites. They turn scam over the time because they are not able to bear the cost of electricity or equipment that they have at their end. Also send of them are just to make money by making others fool. So best way to earn is by doing real simple signature campaigns and Twitter campaigns and Facebook campaigns and much more. Also you can provide services in bitcoin form you will earn pretty decent money. 100% Right

anyone else have experience with hashflare?

Doing mining is profitable if you can choose it appropriately. But I strongly urge you never to use cloud mining, buy and setup properly a hardware mining. Signature and bounty are profitable but mining can make you make more money than others. The most important point is you have to be right in choosing the hardware and also the coin that you will do mining.

Strongly agree with you many times i invest in cloud mining but i failed i got scammed by more site that is avoid that investment site and make your own mining site which will gives you much better income. Just make sure your area has good climate to make your hardware will be exist for long period of time.

I have been using hashflare but i think also genesis mining is real. Hashflare can be trusted according to me. It has a bit costlier hashrates available but its safe. But instead of investing in such riskier sites, you can directly purchase some rigs and start mining for yourself

I know why you can say that, maybe because you first plunge in the mining world using genesis. Maybe you can say otherwise if you have understood other mining work systems, such as hashflare. Because I think hashflare is more legit than others

Its working but every 1hr. I hope it will help you. Im also a newbie here and i need also some informations on how to earn bitcoins
https://freebitco.in/?r=2519128

For me hashflare and genesis is good....you can also use minergate,bitclubnetwork,24 hash and nesthash....now i use bitclubnetwork but you need to pay $99 dollar to be a member and purchase a pool to start mining

It's a bitcoin faucet and not a mining company...you may want to check this thread, https://bitcointalk.org/index.php?topic=320959.0

you can rent a machine on miningrigrentals and mine any coins you want.
genesis mining is legit, yes, but no profit.

Not only is Genesis Mining unprofitable (for me, at least), they were recently hacked. Let's see if they make their customers whole.

http://blog.genesis-mining.com/genesis-mining-service-update (http://blog.genesis-mining.com/genesis-mining-service-update)

I only found three "legit" mining companies: Hashflare, genesis and eobot. Didn't try genesis because it was for my opinion to expensive. I have contracts of hashflare and am not amused. Independent from bitcoin price, mining power goes down dramaticly. I baught additional ths (doubled it) but had after a short period less daily income. I would never buy again. On eobot income appears to me most realistic. I invested because 5 yrs contracts can be cashed out at any time through 24h contract.
But in the resul I think, cloud mining is nowadays not profitable.

Yes you're right.
They just saying bla bla bla and gain profit but takes more time. So why mine? If we can do campaign job.

Are mining in Hashflare, Genesis mining and Eobot still profitable?
I just tried mining at Hashnest because there I can resell hashpower if I get bored: /
Or is there a recommendation of the fourth mouthed mining company?

What makes you think those are not scam? Already checked on the forum and most of the people are giving the negative reviews about it.

You can checkout more discussion about them here: https://bitcointalk.org/index.php?topic=1726695.0


However, cloud mining is always bad way to invest our money. The ROI and network difficulty calculations along with the terms of company establishment never fits in. You never know when the company will shut down due to unprofitability raised by external and internal factors.


The only few names in the market that can sustain for long time are genesis and hash flare. But they are very big and thats why we can keep trust on them but for sure not longer times. So trade with caution when it comes to cloud stuff.

These are okay websites for mining over the cloud. These currently on top list because of two thing, they are very old and second they are paying. The only thing that we need to ask ourselves is are you willing to wait for longer period of times to get your roi. If time is not problem for you then you are good to go with these sites. However, most preferable sites on priority base is, hashnest, hash flare, genesis and then rest of the two sites. Genesis mining is pretty good with their support which is needed time to time and they on time payments really. You can find more about these in services discussion where people have created special topics. :-)

If you refer to cloud mining companies, I've only seen scams so far. (if not scams, very bad investments)

Regarding companies providing mining equipment, I would recommend Canaan. (https://canaan.io/)

Please folks can someone recommend a reputable minning company to me?

Commonly those bitcoin mining  company will let you payout then it will scam you later.

Telcominer reminds me of hashocean. And I wouldn't be surprised if it turns into a scam later.

I started with Genesis Mining based on the videos and various reviews of it. I'm aware that after having used a calculator it'll take me some time to break even. But I've got faith and will see what will happen. I plan to reinvest my profit to upgrade and get to the 14TH/s mark by the end of the year.

I think if I don't grow my hash power it'll turn out to be pretty unprofitable in 6 months.

I guess it would be more wise if you would just wait for your ROI before planning on adding up funds since we wont know on when they would stop to operate. Its quiet risky on making compounding it may give advantage but risk of losing more money would be always there. I still have contract on genesis mining as the days goes by earnings depreciates even more which means the longer the roi you would achieve.

Lucky for you, I invested in Hashflare, they have never answered any ticket; for over a year now.
My btc has been in their wallet for over a year.   Cannot buy any GH/s cannot withdraw my BTC.
They have refused to answer any ticket since last year.   TOTAL RIP-OFF

https://blockchain.info/address/1NLrVxZy1VTBsbgabcTAd55n2a2BdvBif4

They withdrew my BTC, I cannot withdraw because their site shows me I have zero balance.

https://www.hashnest.com/?locale=en here is ::)

I like Genesis Mining contrary to what others may say. I get my payouts on time and I don't have any issues.

you should try HashSpaces they have lots of diferent cryptocoin to mine
https://hashspaces.com/Welcome/Partner/5051

I think the word "scam" gets thrown around too loosely these days but to answer your questions, no, legit mining companies are not scams. There are some HYIP sites that proclaim they are using mining as a means for everyone who invests makes money but a real mining operation is not a scam. Some HYiP sites that proclaim they mine can be. Some of the better cloud Mining companies are Genesis Mining, HashFlare, Hashing24 and NiceHash.

Some of them are real, but before you are starting to use one I suggest you do your research about that site first. Most of the new people are too naive to do that and think they can be rich in no-time with it. And before they know it all of their savings are gone.

I agree. Everyone would need to do some research and be realistic about it. These days if you get 1TH/s don't expect a miracle. Neither would I recommend ETH or Monero mining on GM. The ROI is not good and the prices too high for their contracts.

If you wouldn't use an Antminer S7 with 4.77TH/s these days don't complain if your 2TH/s gets less and less profitable. It's a the same game as per hardware mining yourself. At some stage you need to upgrade if you want to remain profitable.

4.77 is too less to start because we know bitcoin difficulty is increase every hours and if we only use s7, then we can not expecting make profit in a month. beside that we need to calculate about electricity fee (this is the most big problem for miner). i've done for mining in the past and i think i don't recommended for people to mining bitcoin if they don't have big hashrate but i suggest to mining altcoin because the possibility to make profit is still wide open but its depend on the coins we are mining.

It's not a question of whether they're legitimate or not the question of whether you're going to make money or not. No you are never going to make money renting Cloud mining. If it was profitable then you would never be renting it because the company wouldn't be letting other people use their mining Farm they would be doing it themselves.

I only know genesis-mining since a friend told me about them. I've checked their website and the investments, unfortunately it'll take sometime to ROI and make a profit. The last time I've heard about them is there was a delay in payment and they are working on the issue. I am not sure if I am a long-term type of a person when it comes to cloud mining so I didn't made any investments. I'd probably just buy any altcoins, hodl or learn trading to earn some btc's in a short term period.

Cloud mining is a scam, buy the coin or buy a miner yourself.

99.9 %  of cloud mining is scam  !

Doing it themselves they have a pretty mild Revenue loss, but when they get somebody like you to pay them a higher amount that they would normally get in return, then they're getting rid of that Revenue loss and passing it off to the consumer, which is you.

I need to pull my sleeves to digest this one now. Recently read that genesis mining site has stopped paying their users in first place on daily basis. At least this is coming from the trusted source that is thus forum itself. Today morning I read about topic saying genesis mining is not paying since few days and when called to support they said it's been delay to some users but they are still paying. This looks very fishy and don't know whether to trust them or not.

I use three cloud mining platforms.

Minergate.
Easy to use interface.  Profit over 12 months is low. After 11 months of mining  you break even. After that you will see a daily passive income. Rubbish support though, and currently they have a BTC withdrawal issue.  I have 32476.7152 GH/s with them producing approximatly $35 per day.

https://minergate.com/a/fccb58faf2c81505fc5d6d0e

Skills Dragon/ Lifestyle Galaxy
Offers MultiMining coin mining and BTC mining.  More profitable than Minergate.  I currently have 22.5TH with them and I earn approx $15 per day. But the perchase of the mine is less expensive (hence more profit.). You break even with BTC after about 7 months. I currently also mine EXP which is very profitable. You can break even after only 3-4 months. The contracts are for 3 years. But any hashrate you buy via repurchaseare yours and will keep mining indefinetly as long as mining is profitable/

http://strawman.skilldragon.com

I also use Genisis mine but currently they are out of stock for BTC minien kit

I hope that helps

Hi

did you get paid off on MinerGate?

And what you are using for mining?

Bro there are very few legitimate mining companies. You need to do your research and understand that 99% of them are outright scams and you should not give them your money.

Sounds to me like you pay for someone else to build a rig with your money, and then they get to keep it when you are done using it.

Wanna do the genesis mining but they don't have any btc hash to sell.
How much do I need to make profit on hashflare? Did anyone try it out?

I think best way is to make your own rig, and start...

Maybe the best is to make machines and rent  ;D

www.Cryptocloud.eu is pretty nice! great support and cheap cloud mining

There is this new mining company that offer 5% daily. Seems to be legit but am not sure how far they can go.
https://bitcurr.top/index.php?boss=4869

You don't need "How much", you need "How long", because no matter how much you pay for them, the profit depends on your investment, you pay "much" you get "much".
Just make sure you don't invest on the wrong boat, alt-coins cryptomining is very unstable nowadays, just go try bitcoin for your 1st time.

Im using Genesis Mining. I am satisfied with it. Payouts are daily and they are quick to get a hold of should you have any questions or issues.
With that being said, dont expect to make a quick buck. Im sitting at around 7-8 months

I use Cryptogold. Its the best Company i've seen so far out there.
They garantie lifetime mining. They take 50% of your mining and invest it in new Hardware for you and the costs which come from the mining.
You can mine Bitcoin, Litecoin, Dash, ETH and Zcash. You are also able to switch between the altcoins.
You can visit the Website here and see it for your self.
https://cryptogold.com/?lang=en

One can only join when invited to the community. If someone needs help or any information, send me a message!

What are you use for mining?

I see this is Germany site? Are get some GUI program, or over some CMD window? And what I need to have for mining?  ::) ::)

genesis mining is indeed one of the cloud mining sites that still pays to date. but I am not convinced that cloud mining can earn me income. I feel that cloud mining is just a waste of time I have, months is a very long time. but we can make other investments in a shorter time. so do the other way to use the bitcoin we have, take the best chance we want to get.

sierrahash.com  is another cloud miner.  Has anyone tried them?

Mining is a process that helps the bitcoin users to there different transactions that will recorded in the blockchain throughout the world since using a laptop is incapable all the transactions. A legit mining company as of this days, is rare to find but I know there have some legit bitcoin mining company but I don't think if it can give a good profitable output. Well, If you want to mine you must have a miner device  and you must aware on different factors like power consumptions, location of your place if the internet connections is strong enough for the mining operation.

As far as I know, Genesis Mining and Hashflare.io were the legit sites when it comes to BTC cloud mining. However, the results were'nt that great, as it could take years for you to ROI because of mining higher difficulty. Add to the fact that both sites charge fees which they use to continue their operation and cover such expenses for mining, electricity and maintenance.

Today, there are a lot of sites sprouting like mushroom which offer the same exact service. But, In reality, they are just HYIP or Ponzi sites acting to be legit in the first few weeks or months. Once they accumulated enough BTC or hit their target profit, they will be gone for good along with your investment.

I just dont understand whats the point lets say for genesis mining rent out hashpower , it they can mine themself and keep more profit ? Can somebody explain please ?

If you want to mine cryptocurrency for some extra income COMPUTTA is a great place to start their automated system checks which currency is most affordable to mine at the moment and mines it, so you have maximum earnings for your H/s https://computta.com/?ref=110682 it is compleatly free and you dont have to enter any credit card information to enter. I have been looking for something like this a long time and i have tried out many similar apps and so far this one is the best. At least try it out is doesn't cost you anything  https://computta.com/?ref=110682

If you can't mine Bitcoin yourself, your next best thing is to buy and hold. Period. We started mining on our own in October and it is 4 times more profitable than we thought:  https://youtu.be/acaeeRAxt8M

The problem with cloud mining is that they charge you a fee, which is usually 30% of returns, so you loose a lot from the start, and  as difficulty increases, you will be making nothing in no time. If you mine on your own, the pool fees are around 2-3% and you keep all your returns. Mining is not as complicated as you would think, just follow my channel and you will see. 

Cheers
André

I will suggest you mine on your own if you are in a country with stable electricity and if also you can afford the electricity bills.
The reason is that, most times its hard to say which cloud mining companies is the best; one minutes they are doing good, the other minutes they are disappointing.
The ones that are know and  use to be good  then was Genesis cloud mininng and Hashflare, though now I can't say for sure if they are still good. Check them out though and read their recent reviews.

Based on my experience, I think the most legitimate bitcoin mining company is genesis-mining, as they have their own mining rig and active in participating at conferences regarding cryptocurrency and blockchain. But you can also check Hashflare, Eligius, Slush pool, BTCC, GBMiners, and Mining Hub. I will not be posting here referrals from these sites, so it is up to you to do your research and see if you really want to try them or not...

Genesis Mining is the largest cloud mining company on the market but there's no legit cloud mining company because they end up scamming their users and the same genesis company have been accused of scamming their users. Besides, if you ask any member on here who's moderator,Legend or hero none of them will advice you to invest into cloud mining site because they are all ponzi site.

I really find it difficult yo understand all what mining is. Someone please help

I don't know if I would go so far as to say that Genesis is a ponzi scheme; I'm sure some cloud mining businesses are definitely ponzi schemes. With all of these cloud mining sites, you buying a hashing power at a premium than if you operated the miner. It will severely impact your ROI.

Based on my experience, in my opinion, the most legitimate mining bitcoin company is the genesis of mining business

The bitcoin mining company is a fairly new type and I have not known it before. I know that most countries have not recognized bitcoin and crypto so bitcoin mining is still not public. So if there is a company that specializes in bitcoin mining is quite a strange thing.

Sierrahash is offering free 150 GH/s hash power to start .  They only mine bitcoin & office in London.

https://www.sierrahash.com/?ref=216436

any latest bitcoin sites???

As far as my knowledge is concern, as what I know about genesis mining it is the largest cloud mining company. Though, there some complaints due to the power consumptions and during there mining could not have a good output but I think there might some factors affects on there mining process. Somehow, there is still legit mining company that really can give a profitable output.