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Author Topic: Genesis Mining Advice  (Read 603 times)
anonymousx
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November 17, 2015, 12:18:20 PM
 #1

I am starting this thread to advice new members about genesis mining, if you don't have enough to buy at least 1TH of cloud mining speed than don't do lifetime contracts.

I bought a life time contract of 0.05TH in other words 50GH, and I make 0 out of it because of mining fees equal the profit, in other words I gave them free BTC worth of $22, so do not even think about it if you can only afford the lowest contract they have.

Genesis is a great service and have great reputation, but also have too many cons, slow website, high maintenance fee and expensive contracts, the increasing difficulties makes it more profitable to buy your own miner and pay your own electricity, it can also save you some heating bills in winter.

Regards
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November 17, 2015, 01:01:52 PM
 #2

Yeah, GM sucks. Noone has ever reached ROI with them. BS service.

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November 17, 2015, 01:04:53 PM
 #3

It's impossible to ROI with 1 year contracts, almost impossible to ROI with life-time contracts. I have 1 referral in Genesis Mining, right now I get only referral commissions. It's only dust amount, of course. I don't recommend this service to anyone again. Invest for other instruments, not this cloud mining company.
anonymousx
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November 17, 2015, 01:16:39 PM
 #4

I have just moved to hashnest, testing it out with 15GHS right now, if it turns out faster I will wish I spent those 50 GHS at hashnest, at least it's a manufacturer.

I will give it few days to see, if it turns out great I will turn my real life mining into cloud at hashnest which is around 0.008BTC, which will be good at the long run, one day I will have double the hash.
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November 17, 2015, 10:13:12 PM
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With all due respect guys, I don't see why are you wasting your time with cloudmining! Extremely hard to ROI even with the legit services like Hashnest. I've been there and done it and I just gave up!

Good luck to you all anyways!
anonymousx
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November 17, 2015, 10:29:44 PM
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With all due respect guys, I don't see why are you wasting your time with cloudmining! Extremely hard to ROI even with the legit services like Hashnest. I've been there and done it and I just gave up!

Good luck to you all anyways!

I think I will listen to your advice, now I want my BTC back, going to sell hashnest contracts, many people said the same as you, that it's hard to ROI, and I wont sit down and wait for block halving to end my contract!

I better save them BTC and mine with my little Antminer C1 instead since electricity the cheapest ever where I live.
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November 18, 2015, 07:22:54 AM
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With all due respect guys, I don't see why are you wasting your time with cloudmining! Extremely hard to ROI even with the legit services like Hashnest. I've been there and done it and I just gave up!

Good luck to you all anyways!

I think I will listen to your advice, now I want my BTC back, going to sell hashnest contracts, many people said the same as you, that it's hard to ROI, and I wont sit down and wait for block halving to end my contract!

I better save them BTC and mine with my little Antminer C1 instead since electricity the cheapest ever where I live.

Even better option s to build an GPU ether rig. These re moderately profitable now.

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November 18, 2015, 08:38:08 AM
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With all due respect guys, I don't see why are you wasting your time with cloudmining! Extremely hard to ROI even with the legit services like Hashnest. I've been there and done it and I just gave up!

Good luck to you all anyways!

with hashnest you should roi in 8 months max if you don't sell, the problem is that right now mining is becoming trading also, very heavy in trading, which i don't like

with s5 roi is only 5 months, i dunno what you expect but 5 months is very good nowadays in the mining scene
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November 18, 2015, 10:15:16 AM
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With all due respect guys, I don't see why are you wasting your time with cloudmining! Extremely hard to ROI even with the legit services like Hashnest. I've been there and done it and I just gave up!

Good luck to you all anyways!

with hashnest you should roi in 8 months max if you don't sell, the problem is that right now mining is becoming trading also, very heavy in trading, which i don't like

with s5 roi is only 5 months, i dunno what you expect but 5 months is very good nowadays in the mining scene

Yes, but to wait 5 months. That's a hell of a long time in crypto scene. And with upcoming halving, I just don't know! I prefer rather enrolling into a signature campaign and having steady little income with no a lot of risk!

@anonymousx I think you made a good decision!
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November 18, 2015, 10:22:22 AM
 #10

let's get genesis mining to provide legit information of mining, so we can go deeper with this discussion, they are still refusing to provide such information or explicitly signing any blocks.
i guess this is ponzi, they did not even provide the necessary information to consumers.  Roll Eyes

anonymousx
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November 18, 2015, 02:01:16 PM
 #11

let's get genesis mining to provide legit information of mining, so we can go deeper with this discussion, they are still refusing to provide such information or explicitly signing any blocks.
i guess this is ponzi, they did not even provide the necessary information to consumers.  Roll Eyes

I have seen videos and podcasts of journalists talking to owner, also I seen videos of his team assembling the mining farm and an interview, I don't know but seems legit, but whatever it is, it sucks.
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