Bitcoin Forum

Who pays more profit genesis mining or hashing24 daily on $1000 investment?

both of them will result in you losing money, the structure of the business in itself doesn't make sense, but if you had to choose one i would go with genesis mining.

If they are paying on a fixed return of investment, then it is a sure cause of concern. As mining depends on many factors like electricity, hardwares, the wear and tear of hardwares, the salaries and wages to people, and many others, I don't think there can be any universal rate to say which one is paying higher or lower.

Didn't know hashing24.

Regarding genesis-mining: What do you mean with the word "profit"?

Nevertheless if you want to try it with genesis: With the promo-code oCaZ84 you'll get a discount of 3%.

Right, you'll lose your money anyway, so in the end it doesn't make any difference in what cloud mining service you put your money in. :D

Seriously, do people even take the effort to due some actual research before putting their money into whatever service? Aside from this forum, I have never seen people being so careless when it come to their money.

If you want to get rid of your money, then donate it to a charity as that will be a much better place for your money to end up. Filling the pockets of a bunch of con artists makes you equally as worse.

Its better to do a well timed purchase of BTC than investing them in a cloud mining contract that will not be able to give you enough gains to justify making the investment. It could be argued that cloud mining businesses can be Ponzi schemes.

Rather than investing in those cloud mining , purchase one real mining hardware and start mining yourself or you can rent it in miningrigrentals or nicehash to make more than what you can from any packages those cloud mining sites have.

None! No one pays in the cloud mining business! The only one getting rich here is the operators themselves. There is little profit in these nowadays and the contracts are really restrictive that you won't really profit. Not to mention all the fees you have to pay for operating a miner (even if it is in the cloud).

Lovely biased question.  You've come in with the assumption that either of them would result in any profits, but they won't.

If you're talking about which will lose you less, it's very hard to say.  Genesis Mining is an extremely shady business which fails to tell you the fees they take.  In reality, they make it look good at first by adding loads of coins that have just surged in price, but then when the difficulty catches up and their outrageous fees start kicking in they just cancel the contract because the amount you would receive goes into the negative or into a negligible amount.  The only way that they sustain it is through a rampant and malicious referral program.

Hashing24 looks like a very similar "legitimate" service.

Just don't bother.  You would be safer lending out your coins on Poloniex than cloud mining, and trust me that is not safe.

i prefer genesis mining than hashing24 because it is  some sort of going to another view like you are going to withdraw a big amount of money but you have to pay double of that amount that you deposit :D