Genesis Mining 2

[Kasplant]

There are plenty of topics why Genesis Mining is a scam. Even delete reply's on their own thread.

But this fuckface guy keeps promoting them while earning a dime from his earnings:
http://imgur.com/a/BtGPj

Please share your experience.

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[crazyivan]

BS service, not a scam but totally not profitable. Actually, I was not able to find a single guy who s EVER made profits with them.

Basically, you give them money so they can develop their farms in Iceland at 0% fee. That s how it works.

[ultrloa]

There are plenty of topics why Genesis Mining is a scam. Even delete reply's on their own thread.

But this fuckface guy keeps promoting them while earning a dime from his earnings:
http://imgur.com/a/BtGPj

Please share your experience.

i can't tell or point them as scam unless their are people crying that they have been deceived by genesis mining and the correct word that we can pronnounced them is not profitable since their mining business nowadays are not generating them a huge profits thats why the profit diveden are so little when it is distributed to theirs investors.

[Dlugina23]

I dont know is there Genesis minning 2 , only know Genesis minning.I am looking only antminer s9 and knowing only one website is using this.

[crazyivan]

There are plenty of topics why Genesis Mining is a scam. Even delete reply's on their own thread.

But this fuckface guy keeps promoting them while earning a dime from his earnings:
http://imgur.com/a/BtGPj

Please share your experience.

i can't tell or point them as scam unless their are people crying that they have been deceived by genesis mining and the correct word that we can pronnounced them is not profitable since their mining business nowadays are not generating them a huge profits thats why the profit diveden are so little when it is distributed to theirs investors.

Oh, dont make a mistake, they do make a lots of money.

How?

First, they re located in Iceland, this means geothermal energy, which s basically free.
Second, they finance purchase of their miners by luring noobs to buy cloud service for which they never hit ROI.
Third, they buy miners in bulk, meaning they have a very low equipment price.

They make a lot of money.

[giveen]

Well that totally depends on you , they claim to do really mining and they have very less electricity fees , etc. Personally I really don't trust them because in order to get your investment back it takes around 2 years and I was fine with that. But the catch was if the fees is more than what is mined our contact would get terminated. But still it's your wish.

[eckmar]

When they to is selling low hashrate for a long time and with difficulty constantly increasing your ROI will get longer and longer and eventually you won't be able to hit it and your contract will be terminated because it's no longer profitable for them. So that is scam in my mind

[xuan87]

All cloud mining are scammers, it just the matter of time before they run away with your money, even the new cloud mining is not worth to try, cloud mining is profitable for the owner, but it never profitable for the user, so save your money to invest in other business, don't get greedy because you heard a sweet deal from the site

[Catmony]

We can't claim genesis mining as complete scam right now but it is true that their contracts are not profitable. They are operated by registered company but they might be selling more than what they have in their real mining farms.

[_nur]

it's true do not use genesis

it's not a scam,just that you do not get what you put in back

[SONG GEET]

Genesis mining are selling contracts which will not make what you have invested in next 2-3 years due to increasing mining difficulty. Buy some antminer S9 and mine bitcoin till it remain profitable, switch towards mining alt when you start to get less than what you are spending in bitcoin mining.

[shinratensei_]

There are plenty of topics why Genesis Mining is a scam. Even delete reply's on their own thread.

But this fuckface guy keeps promoting them while earning a dime from his earnings:
http://imgur.com/a/BtGPj

Please share your experience.

Put your money on the genesis> Give him a free loan> They will expand their farm> you wish to get your ROI> they will bring your ROI in some years later> In a match your ROI get reduce by the maintenance cost> You get a new decimal for your ROI> your money in some years later > forget your first decimal 

[mrcash02]

These guys promoting cloud minings with much effort are looking for referrals to receive comission and make profit (that is the only way to make profit with cloud mining sites). They want you believe that it is a good investment and that they are earning a good income from it. Some people considered trusted by many on the internet still promote this, many people believe them because their reputation.

[pixie85]

I'd say they are a scam because they are offering lifetime contracts. For many people this is the main reason to invest money.
This is how you make money on gullible people! They will pick up a calculator, count the profits they will have in 10 or 20 years and come up with some insane numbers that will make them invest.

The truth is in 10 or 20 years genesis will no longer exist and you will never make it back!

[zend7]

I would call them a scam based on my experience I had with them in the beginning. I thought to join them and buy 1 Terrahash because I see massive advertising campaigns in facebook, youtube , videos and description of their mining farm located in Iceland etc. It was all good the first 2.5 months and then after this time passed they shut down my contract with the following reason:

"We shut down your miner because with increasing difficulty is not profitable anymore to keep it on. You would have done the same if you had the miner in your home"

So I had a 1 year contract with them and the contract did finish right after 2.5 months passed for the above reason. This looked exactly a perfect scam trap. I learned my lesson to never join any cloud mining again no matter how legit they are.

[Gliassa]

I would call them a scam based on my experience I had with them in the beginning. I thought to join them and buy 1 Terrahash because I see massive advertising campaigns in facebook, youtube , videos and description of their mining farm located in Iceland etc. It was all good the first 2.5 months and then after this time passed they shut down my contract with the following reason:

"We shut down your miner because with increasing difficulty is not profitable anymore to keep it on. You would have done the same if you had the miner in your home"

So I had a 1 year contract with them and the contract did finish right after 2.5 months passed for the above reason. This looked exactly a perfect scam trap. I learned my lesson to never join any cloud mining again no matter how legit they are.

I do count them as a scam.
Firstly they delete all negative replies. That's shady and proof of their business conduct.

Then there was a period were I mined with them.
They cheated on the fees for scrypt mining. I did confronted them even show the correct calculations. They adjusted it for future payments but old payments were never reimbursed.

Then they closed scrypt mining (which was still profitable), hence forcing users with 200 MH scrrypt (3k USD) to trade them for 200 GH SHA (worth a couple of bucks).

[pixie85]

I would call them a scam based on my experience I had with them in the beginning. I thought to join them and buy 1 Terrahash because I see massive advertising campaigns in facebook, youtube , videos and description of their mining farm located in Iceland etc. It was all good the first 2.5 months and then after this time passed they shut down my contract with the following reason:

"We shut down your miner because with increasing difficulty is not profitable anymore to keep it on. You would have done the same if you had the miner in your home"

So I had a 1 year contract with them and the contract did finish right after 2.5 months passed for the above reason. This looked exactly a perfect scam trap. I learned my lesson to never join any cloud mining again no matter how legit they are.

Haha and people are buying lifetime contracts with them   Now we can expect what will happen to their contracts in a couple months.
Poor bastards are hoping for years of income and all they will get is a lousy email saying party's over.

P.S I'm not laughing at you, but at their explanation. I hope people will read it and wake up.

[traderethereum]

i know that genesis mining is one of the good cloud mining that still online and the sites can give us profit and even we can reach roi but i think we need at least almost one year to get roi and its a long time for me, because i think i can not wait until that time to see i can reach roi.

[Zaun]

i know that genesis mining is one of the good cloud mining that still online and the sites can give us profit and even we can reach roi but i think we need at least almost one year to get roi and its a long time for me, because i think i can not wait until that time to see i can reach roi.

If you can't reach roi. How do you see buying a cloud hosting plan that makes profit? It's not possible.
Nor is theire a way to get ROI even with BTC is increasing. The only winners, somehow winners are the ones who earn on affiliates and don't buy any products from genesis mining.

[bassdude]

if cloud mining was profitable then you wouldn't be able to buy it.