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im targeting genesis mining, what do you advice me ?

i think invest 3000$ in genesis mining, is big risk?

i know, that there is trading system and maybe i will lost my 3000$ ;

what is risk ? and what can you advice me ? :-X

I am telling you, avoid genesis mining, and cloud mining in general. Genesis mining is nothing more than a scheme that swallows all your money. Just do some effort, and start browsing the web.

If we look at legitimate services that offer cloud mining, and with this I basically mean that they have actual gear running, even they are simply not worth putting any money in.

The problem is that every share/contract you'll purchase, will at some point get terminated due to it not being profitable anymore. And let this in 95% of the cases be well before you even get your initial investment back.

If you want to proceed with capital destruction, then go ahead and "invest" in cloud mining. You'll be doing far better if you just invest those 3000 bucks directly into Bitcoin.

Genesis mining has many mining options like btc, ethereum and etc (they are out of stock currently). It's not risky because you already know you are loosing money if you invest, risk is when there are 50% chanses of win or lose (profit or no profit). So don't invest or choose for example hashnest because you can sel hashrates anytime. Just hold like others do or trade or buy antminers yourself, you don't have better choise.

The choices are all your but don't select btc to mine if you want to invest at them, And 3000$ is quitely huge amount and i think its very best for that money to invest on your own hardwares so that you could feel and secured your profits by doing that. And by doing an hardware mining you may update it if the your hardware hold is been outdated unlike upon investing on cloudmining site where you can earn for the share you buy untill the end of contract.

when it comes to cloud mining the first thing that should concern you is their legitimacy, and for that you should check to see if they really have any mining equipment or is it a hoax.

the second thing which people always forget is the ROI. when you invest in a cloud mining they are the ones making profit not you. with all the fees they take for many different reasons and the percentages you will have a hard time reaching the ROI and all this time your money will be tied up.

The $ 3000 is a lot for cloud mining in one shot. Also genesis mining I'm not pretty sure because I have not used it so far. I will tell you my experience with hash flare which is also good cloud mining company and it is paying me currently. I have invested around $500 in it but that too in the dividend, meaning I invested in 3-4 parts after buying the hashing rates. When I received my first payment I got confident with the site so invested my rest amounts in 2 more parts and that way I hold hashing rate worth $ 500. This is giving me around 4.2 TH/s of speed with which I am able to earn $3-$5 per day with different mining pools. This is not much but something is better than nothing. More important is that has flare is being genuine at this point.

ok thnx :

You should only opt for mining if you are fully aware of the technologies involved of both mining and the cloud technology. If you are not smart enough with both, there is chance you will fall in trap of the cloud mining scams.

A lot of newbie ranks are coming out asking and telling, "I want to invest in cloud mining", "Is cloud mining safe?" Well think about it, many says that genesis mining is one of the "legit" cloud mining. But I say, just don't invest to any cloud mining type of investment and you have a good amount to invest. Why not try to explore and invest in real mining with alt coins? Buy your own rig.

3000 dollars is a big amount to give to some other persons to manage the so called cloud mining for you. I think you need to read more and you can find a better way to invest that money. Mining with graphic cards is going down in profitability lately I will not suggest you to go and build a computer for mining altcoins. I think the best you can do is buy bitcoins with that amount and hold, you can buy about 1.25 bitcoin with that amount. With genesis mining you don't know if you will ever get your money back or not. Just hold this amount in your wallet.

I have noticed that too. What I also have noticed is that mining has been booming, and then I am mainly referring to the hype around Ethereum mining. Quite some people on YouTube have been heavily exaggerating how profitable it is to mine Ethereum with GPU's. Easy alternative for buying powerful GPU's, and seeing your electricity bill shoot up massively, is cloud mining. It is basically a passive form of income, which makes them exempt from any of the potential annoyances that people experience when they mine through GPU's. However, these rookies don't understand that it is a waste of time and money....

That's why they are choosing to invest in cloud mining because they are just investing and gain a free profit and other forums they are still promoting cloud mining that actually not profitable..
Like you said GPU mining is a great  as alternative in cloud mining and you are mining with your own pc or mine altcoin in vps..
People are always choose to gain profit easily free without working.

invest in cloud mining is not safe
you must ready if lost youre money, because majority not real mining, is good cloud mining this now hashflare

It's a big risk.

The main point on cloud mining is you should wait to pass your ROI with amount of Hash you have. With $3000, it takes really long time to pass your ROI and SURE you will be bored to waiting this. If you would like to invest that amount, cloud mining is a big NO

Between trading and cloud mining I would prefer trading. Cloud mining you need to send all the money to them, the only alternative after the deposit is to pray for the ROI. Trading is better, you can deposit the $3000 in an exchange and start trying some Altcoins. You won't lose all your money at once, surely will have some losses if you aren't skilled on it, but you will have chances to recover it.

Cloud mining would not consider as trusted schemes anywhere. It is only look like a scam attempt or Ponzi schemes. However, I have went through article and Google search about Genesis mining.
It seems good to start mining for bitcoin, ETH, litecoin and menaro. Hashpower you need with the card or any digital currency options. You need to pay daily maintenance cost as well.

Advice? I guess you read already all those posts and suggestions above. All you need is to take the risks since $3000 is huge enough and once you get scammed or you don't get your ROI in a a year then it's your fault in which you know it once you invest there.

I don't think that any of the previous responses covered this:

The only reason why a cloud mining site to exist is to make money. There are only two ways to make money off cloud mining for the operator, when the difficulty is going up on a daily basis - 1. offer a ponzi scheme that will pay some people but scam most others or 2. Offer a legitimate service, with legitimate business model, try to get as many people into this as possible promising returns but charge maintenance fees that will eat up most of the returns.

Now Genesis-mining is most likely 2, or could be 1 as well. It is a trusted company, but if you are aiming for the profits, don't do it. I had a contract with them that got cancelled a few months after, not even achieving 20% because of the halving.

I hate to be the one to give you the bad news, but if you paid 0.2 BTC for 4.2 TH/s, you will never break even.

No, my advice is no, too much time for getting ROI back.

Cloud mining, as well as Genesis mining, was profitable only in the early phases and now you cant even get back your ROI. Many investors thought it will be profitable and invested like you but rarely someone made a profit out of it. Better to stay away from it.

Thats very tough decision. You should be careful with cloud mining due to many factors. The fist thing with could mining is scamming out. Most of the cloud miners get scammed because the host do not pay back due to unprofitable contracts. They turn out like that because they are not able to pay the mining electricity costs, maintenance charges for some reasons. As you might be knowing that network difficulty is increasing day by day due increased number of miners in the field itself. This has led to higher fees too as well as their competition for blockchain. To overcome this problem they only have on option and that is to get more miners at works which means more investment which they can not do as they did not make any profit. So they simply shut the program and the cloud mining turns Ponzi. Bette stay away from it for this major reason.

I agree with you, if it turns out that the mining program is sometimes just a fonzi, of course this will result in losses on mining investment.
It seems to have to be more selective again in mining and requires various considerations for its implementation.

You don't have to be selective at all when it comes to cloud mining. You only have to look at whether or not cloud mining is a profitable option ~ answer is a big NO.

That should be enough reason to avoid cloud mining in general, right? What person is going to invest in something that isn't profitable at all? It makes no sense.

If you want to get rid of your money, then be so kind to donate them to a charity instead of filling the pockets of con artists.

Your $3,000 maybe will lost too during cloudmining. Why? In the future you will pullout it wasting some time. Genesis seems to be legit. Compute your ROI and remember it will changed as time passes by. I think after you saw your calculation, you will now have doubts for your expected profits.

Im sure you don't want to wait for long time for small profits as no sense to do that even for passive income. I suggest to used that $3,000 on another risky method but worth to try.

I would not recommend Genesis Mining. I have 30Mhs of ETH mining with them and since my contract started 4 weeks ago I've already had to write multiple support tickets for missing payments. Each time I write them they give a different excuse for why they missed a payment for over .06 ETH and a $5 ref. commission. On top of all that my daily profit has decreased by 30% in that short amount of time.

I have had a similar yet different experience.  I have 60Mhs of ETH and i have seen my rate drop but that is due to more people mining ETH.  That is clearly expected with mining.  Even if you purchased your own rig it would be mining less now that it was a few weeks ago.  As for daily profit.....my has gone down as well but that is due to the price of ETH dropping too, is your 30% figure based on ETH or $$$ amount ...with the upswing today my profit is going up....I am pretty sure this is the risk/benefit to mining.

DO NOT INVEST IN CLOUDMINING ... definitely not worth it.

If you still want to cloudmine then your only options are Hashnest, Bixin or BW.

But be aware you can't profit just on the mining itself. You have to be active trader (buy/sell GHs all the time). Mining revenues are only kind of bonus.

 I have planned to start cloud mining in Genesis for btc alone with 30th hash power. Will it good returns to me. If I have started with it. More over it shows 0.0003 btc for maintenance when ai tried to buy the hashpower.
Is it correct? Please confirm the information bros.

If you have 3000USD of money then buying hardware mining rig is the right choice. You can mine etherum coin and earn money around 500USD within a month. By buying 6 pieces of VGA RX470. You can earn more profit. Investing in cloud mining like genesis is easy, you will not be bothered with various settings, but you will get pressure because we do not know how long cloud mining will survive. Buying hardware mining rig will give you greater comfort, security and profit. Besides that you will gain more knowledge as you design your own mining system.

If you really want to invest in cloudmining then try to invest that is okey for you to loose I mean the amount that is nothing for you when gone.
Investing in cloudmining is like you are trying to put your money at risk of course which is nothing for you.
If I were you I will study about trading different types of coins then learn and apply, that's safe because you manage your own stocks and anytime you can deposit and withdraw it. For me trading is the best that is if you have learned its strategy. Good luck!

Agree much better to invest to buy a hardware or build a mining rig that you are investing on genesis mining or any cloud mining site..
That actually not profitable if you want to gain a good profit investing and buying your own miner can gives you a chance to gain profit depends if you are paying low electricity cost or there are some alternative power source which solar panel its not costly too much and i think it can help to gain more profit..

Why don't you just invest it in bitcoin instead of investing to a certain cloud mining services you have a huge amount money and it will be just like a bubble once you have been scammed and although genesis mining has operated since 2013 you can't be sure still if it can be profitable . It's still your choice anyway if you really want to put your money on genesis mining or the others but before dealing with you should the risks and what you could possibly lost .

True. It's exactly just like buying stocks. You buy Gh/s and you get mining revenues like dividends, but the real profit comes from trading, and not from holding these GHs.

Thread started two years ago and still active : Scam Alert : Do Not Invest In Genesis Mining  https://bitcointalk.org/index.php?topic=1185909.460 (https://bitcointalk.org/index.php?topic=1185909.460)

I wouldn`t recommend cloud mining to anyone, reaching ROI is very hard and where is the profit? All that waiting is not a problem, but we all know that cloud mining services can disappear in any moment. With so many good altcoins there, and price rise I would put my money in some of them not in cloud mining, or some casino bankroll, everything is better then cloud.
But in the end you are the king of your money, so invest them in what ever you wish.

Do not invest into any cloud service. Today, you can't really get ROI with cloud mining. You could get it a few years back as I did with cex.io, but with the todays difficulty, I'd suggest you not to invest that money in cloud mining.

You'd probably have a better luck and profit with investing into some dice website prize pool.

You are better off using that money to build your own mining rig to mine alto coins. You will make your ROI if you mine smart.

Exactly! Dice MIGHT pay out something, minings are all scams if they promise returns, the honest miners already claim you will not recover your returns at low level entries.

Why would you risk such a big amount, cloud mining has a bad reputation you should find better ways to invest maybe in shares I think it would be better.

I would suggest that be cautious investing in any cloud mining because majorly many are the ponzi schemes where they will initially give you returns but after sometime the excuses will start and at the need will shutdown taking you money . So instead invest in btc or other altcoins if you feel which will have a good future so that atleast your money will be safe than investing in such ponzi schemes.

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BTC will soak up the world's debt like a sponge. Governments will need it when their fiat ponzi turns on them. Alt-coins will be useful if they remain numerous, and too many to keep track of.

This is a better method than cloud mining =D

https://i.imgur.com/kKom3df.png

Mining is not liked by many people, they think it is a trap and very easy way to lose your money. But there are hundreds of bitcoin miners who are making money day by day. Normally to get profits it is good to do bitcoin mining on big scales. Small scale mining systems are not appreciated that much because they more power compared to the profits they provide. So to start on a large scale would be a great idea to get handful of money out of you bitcoin mining.

Of course with large-scale mining will also gain greater profits, and in my opinion mining does not have the risk of losses such as trading.However for now china is largest mining possible in the next few years of course bitcoin miners will increase in various countries along with Bitcoin development of course.

Thats big stake to put on genesis. It is profitable currently with one year of ROI rates. But who knows what will happen with genesis in one year of time bro. You can try something else, may be put the money into your own ICO development with the help of other sponsors and get shares of the company. Just saying!

I think that is a good idea of developing an ICO and because you have received support from the sponsors. But I don't see it will stay strong as it is for the coming years due to the situation of the bitcoin economy which sometimes an unpredicatable currency. Although you saying it's profitable, but let's just accept the fact that mining is not that progressive compared from recent years past, due to it's impact to the electric consumption and how efficient it is to mine bitcoin with regards to the supply.

And most of them will turn into scam proposal in the time coming. The reason, cloud miners are themselves unprofitable after sometime as the difficulty of network increases and there has rates drops or is not sufficient to cop up with the network nodes. Better not to invest into such stuff which risky and is said hundred times by everyone here. :-/

someone here has already been summed up before  --  all cloud mining are scams.