So how about some actual numbers to back up your shilling? You know, costs of contracts, fees, etc. Not some bullshit like 300 thousand clients - meaningless and likely false.
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Yeah, you're right I'm a jealous competitor
![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
The main problem is not their lack of transparency but the fact they are not profitable.
If you want to prove me wrong you can buy a small contract and show me your profit. Reality is you will get back approximatively 30% of what you paid. It's not about investing when bitcoin is low or high or whatever. Genesis mining contracts are NOT profitable, NEVER. You are paying them, they won't pay you back half of what you paid because the fees they are taking are huge.
As I said In my first post, I firstly was a GM customer. When I asked for a refund, they refused. I said to their support team I would open a scam accusation thread and spread awareness about them.
Now, almost one and a half year later, I don't care to lose 10 minutes every week managing this thread. I'll keep doing it if it can save some people their money. I'll do my best to ruin this company but I don't need to be a jealous competitor to do so, trust me. If you really want you can buy a contract and then you will join me in the fight
![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
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Is their any cloud mining that isn't a scam?
I guess Hashnest is still the better one and they are really mining. Give it a try if you want. But you won't become rich with cloud mining anyway. So instead you could buy bitcoin and hold them.
The problem is that at one time or another the difficulty of mining will increase, in addition, the maintenance fee is high, making the situation of the user even more difficult.
Ok, ok.. I hope your quotes have been implemented the right way.
Your, Glucose“s, Suchmoon“s and dhampir-D“s advise, and further research, have convinced me of NOT INVESTING any buck IN GENESIS-MINING.COM.. Though im really a newbie, also common sense has told, that they certainly dont care about their reputation, but do care a lot about throwing out their fu cked up "live-lasting" - contracts, that are only profitabel for themselves, as they clame on their website.: "Why mining with us is profitabel?" They“ve forgot about to add the:"...is profitabel for us?", in that sentence.
So, im really thankful towards yours, that this warning thread exists, and that youre keeping it alive! It eally isnt easy, to chose a proper cloud-mining company, finding your way, through them well positioned paid google-listings, to some honest and objective reviews.. Lots of thanks!
If you think, it“ll be better for this forum and this thread, to delete my posts pro GM, id do so? Or, its better for the context, to keep them, so everyone can see my 180 degrees mind change? Whatever.
Until yet, i havent signed any cloud-mining contract with any company at all. Thats why i was pro GM at first glance, just out of ignorance, believing a "western" company couldnt be scamm, and the asian ones, would be scamm straight through. But now i guess, its completely vice versa;) But now ive got some general questions about them. Can i put them in here, or just into another thread? Some like, is Hashnest a part of, or integerated into Antpool? Sorry, to ask them right here.
I want to invest $ 5.000 for my mother, and im busy reading for the last 4 or 5 days. Is cloud-mining bitcoins, with automatically repurchase (like e.g. hashnest offers it), supposing a steady or rising bitcoin exchange-rate, the better choice for a time horizon of 3 - 10 years, instead of just buying and holding bitcoins?
The answer almost everyone gives is of course, just hold bitcoins. Its lets risky, and so on. But, for me it doesnt matter, if its lets risky. For me its just important to know, is bitcoin mining with a serious company, with the factors i mentioned above, more profitabel on a long timeframe, than holding bitcoins? Or, are $ 5.000 not worth mining at all?
If your not going to answer this whole lot of issues. No problem. And, once more, sorry for that then;) Im going to ask it in another thread.