Should i Trust Genesis Mining

[Bakerxab]

I am thinking about joining genesis mining and buy some of their contracts
and I was wondering if any of yo tried them before,if so, please tell me if i can trust them with my money or not
Thank You

[OmegaStarScream]

I am thinking about joining genesis mining and buy some of their contracts
and I was wondering if any of yo tried them before,if so, please tell me if i can trust them with my money or not
Thank You

There has been several scam accusations against them over the years but I think It's nothing confirmed. Whether Its true or not , cloud mining is not longer profitable so It's not recommended to invest anymore.

[franky1]

meandering away from the logical answer of cloudmining is very shady.
there is another point that should be raised.

imagine you did find a legit cloudmining business. (requires alot of imagination )

mining bitcoin
based on the last 6 months some maths has been done
based on a 13thash asic over 6 months, it returned 0.47btc mined over 6 months
converting it to fiat, thats about $340 for 6 months mining bitcoin

so easy maths. 0.47btc / 13thash = 0.03615385 per Thash return after 6 months ($26/Thash)
as for the next 6 months. unless you are getting a contracts for far less than $26/Thash dont expect to break even in 6 months

altcoin mining
however if you are altcoin mining.. well throw a dart at any number and treat that as expected returns.(meaning no guarantees/no predictions).

though cloudmining alone is very shady, even if you found a legit company.. the returns wont be as expected
your better off just buying bitcoin and holding.

[ultrloa]

They are not profitable right now and to many bad feedbacks posted on this furom, and surely you cannot take to get some problems if you will choose to invest at them, that site is no longer given such decent roi to their investor thats why its better to find another alternative profit earner since genisis mining is totally a shaddy business for now. Just try to dig some past pages on this section you can actually see thos bad feedbacks against them.

[ethereumhunter]

I am thinking about joining genesis mining and buy some of their contracts
and I was wondering if any of yo tried them before,if so, please tell me if i can trust them with my money or not
Thank You

better you asked yourself. my advice is if you are really curious about cloud mining, then you can trying genesis because genesis is one of the oldest cloud mining that still online and i think you don't have to mining bitcoin because its really hard to mining, better you mining with other algorithm like x11, scrypt, equihash and i think you can get profit with that. but fyi, its need times to get ROI like almost 8 month until 1 years from your first deposit and its depend on how much you buy the hashrate.

[densuj]

I am thinking about joining genesis mining and buy some of their contracts
and I was wondering if any of yo tried them before,if so, please tell me if i can trust them with my money or not
Thank You

Well... actually depend on your decission to make investing or not, in my opinion if you want make investing on genesis mining make sure you be ready for lost them and wait until you get return of investment, because there are people who make guarantee genesis mining will be survive forever, remember mostly of cloud mining service were ending with scam.

[mindrust]

No you shouldn't, as you also shouldn't trust in every other cloudmining businesses out there.

They don't mine shit. They make money as long as you find new customers for their ponzi. If their mining business were making profits, why would they share it with you? Ask yourself this, would you do it?

[jack1111]

I am thinking about joining genesis mining and buy some of their contracts
and I was wondering if any of yo tried them before,if so, please tell me if i can trust them with my money or not
Thank You

This issue has been discussed many times in this section, Genesis mining is one of few companies which are still working after the halving, but it is not profitable any more, in my opinion, holding your bitcoin or investing in legit ICO are better than investing in any cloud mining service.

[uneng]

I am thinking about joining genesis mining and buy some of their contracts
and I was wondering if any of yo tried them before,if so, please tell me if i can trust them with my money or not
Thank You

This issue has been discussed many times in this section, Genesis mining is one of few companies which are still working after the halving, but it is not profitable any more, in my opinion, holding your bitcoin or investing in legit ICO are better than investing in any cloud mining service.

Yes. Everybody is awared about this truth now. I hope investors stop sending their money to genesis mining and another sites of the same kind.
To OP, I say: You shouldn't trust genesis mining, because cloud minings sites aren't profitable for investors, just for the owner who is getting all your money. Cloud mining consists of empty promises.

[crazyivan]

NO, NO and NO. There s no single individual who made money with them. You just pay them to expand their own farms. BS cloud mining. Better try some other company.

[amacar2]

Changing price of mining package several times within a year or month is shady part they have, they keep selling packages at quite higher rate on starting days and lower price over time so the one who will invest on first will always struggle to get back their invested amount. If they don't run away just like hashocean, to get your investment amount may require more than a year period. Trusting cloud mining is out of option for me.

[nealvanessa990]

cloud mining is ponzi scheme never been profitable at all.I seen all of the site come with nice offer and after couple of days or month they just ran away with investors money.my recommendation don't invest on cloud mining site there have must possibility to lose your all investment.

[Blitzboy]

I think yes. Genesis mining evidently has the mining system in Iceland. You can find this information on the internet as well as some trust bitcoin-related news. However, nowadays, cloud mining is not as profitable as it used to, you need at lease 6 to 10 months to return your capital. So please considered about investing in cloud mining

[piloder]

Cloud mining = virtual mining /fake bitcoin mining for most of the time
Genesis mining shows real mining device and mining farms in some of their videos and pictures however i really doubt that they may be selling more than their real mining device power.

[ged00u]

No, you should not. Every cloud mining can turn into a scammer in a blink of an eye no matter how long they have been running and how trustful they are. Stay away from them or you will lose your money. If you have capital, you should learn how to manage your own mining system. It is more profitable and more trustful

[oxygen88]

I don't think you should put in a lot of your money into cloud mining site, most of the cloud mining sites are scam nowadays.

[Bakerxab]

meandering away from the logical answer of cloudmining is very shady.
there is another point that should be raised.

imagine you did find a legit cloudmining business. (requires alot of imagination )

mining bitcoin
based on the last 6 months some maths has been done
based on a 13thash asic over 6 months, it returned 0.47btc mined over 6 months
converting it to fiat, thats about $340 for 6 months mining bitcoin

so easy maths. 0.47btc / 13thash = 0.03615385 per Thash return after 6 months ($26/Thash)
as for the next 6 months. unless you are getting a contracts for far less than $26/Thash dont expect to break even in 6 months

altcoin mining
however if you are altcoin mining.. well throw a dart at any number and treat that as expected returns.(meaning no guarantees/no predictions).

though cloudmining alone is very shady, even if you found a legit company.. the returns wont be as expected
your better off just buying bitcoin and holding.

then where do you recommend me to invest?
except for trading and casinos, i don't think that there are any ways to invest in bitcoin
i am a beginner btw so if you have any tips then please... TEACH ME MASTER

[mrcash02]

I don't think you should put in a lot of your money into cloud mining site, most of the cloud mining sites are scam nowadays.

They are considered a trusted cloud mining company. Already provided evidences they are really mining BTCs. But you shouldn't invest on this company, because the profit is low or inexistent.

The lifetime contracts don't work. You won't receive income for the rest of your life from this. I heared all cloud mining "legit" sites stopped working after halving, only Genesis Mining continued, but I don't know for how long... People are complaining a lot about this kind of deal.

[ivanst776]

snip
then where do you recommend me to invest?
except for trading and casinos, i don't think that there are any ways to invest in bitcoin
i am a beginner btw so if you have any tips then please... TEACH ME MASTER

I'm not sure who suggested you to invest in casino but he/they don't want to see you succeed because investing in these places is very shady.

I don't prefer to invest in casino or gambling or betting website because these are mostly based on luck and mostly the bosses of these get rich not you.

I would prefer you to not use any cloud mining because it is not profitable or the ROI takes ages which I think doesn't worth, so try maybe trading bitcoin or altcoins.

[crazyivan]

meandering away from the logical answer of cloudmining is very shady.
there is another point that should be raised.

imagine you did find a legit cloudmining business. (requires alot of imagination )

mining bitcoin
based on the last 6 months some maths has been done
based on a 13thash asic over 6 months, it returned 0.47btc mined over 6 months
converting it to fiat, thats about $340 for 6 months mining bitcoin

so easy maths. 0.47btc / 13thash = 0.03615385 per Thash return after 6 months ($26/Thash)
as for the next 6 months. unless you are getting a contracts for far less than $26/Thash dont expect to break even in 6 months

altcoin mining
however if you are altcoin mining.. well throw a dart at any number and treat that as expected returns.(meaning no guarantees/no predictions).

though cloudmining alone is very shady, even if you found a legit company.. the returns wont be as expected
your better off just buying bitcoin and holding.

then where do you recommend me to invest?
except for trading and casinos, i don't think that there are any ways to invest in bitcoin
i am a beginner btw so if you have any tips then please... TEACH ME MASTER

Hah, if making money in crypto would be that easy, we d all be next Donal Trump.

Nobody here s going to give you free of charge advice to the ways of making money. Cause if we do, we re just creating direct competition and potentially causing saturation of our investments. Good luck bud.