Are genesis and hashflare trustable?

[richardsNY]

if you want to do real mining try mine with AntMiner that would be best decision.you can buy new AntMiner S9 its now popular.the real mining is rig mining.

Actual mining through hardware comes with too much hassle and annoyances for most people. Don't forget that the difficulty will continue to increase in the coming years, plus we have block halvings that will make sure mining becomes unprofitable for most smaller miners. Buying and holding Bitcoin has always been more profitable than mining. Best of all is that holding requires basically zero effort aside from the initial buying and offline storage practice.

[1715482357]

1715482357

[1715482357]

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[shield132]

You really made the worst decision and reason is pretty simple :
First of all the idea of cloud mining is the best idea of scamming people and as genesis doesn't assure any sort of special return and says they mine so they can't decide it is really easy for them to scam you. What they do is pay youbin pennies for you 1 btc purchase and after 6 months when you get half investment back they will mostly suspend your contract saying your cost is more the reward or they will simply just block you from accessing their site. Just check on google there are thousands of scam accusations against it.

If you say that all cloud minings are scam, how can you say the same about hashnest which is under Bitmain and it's known that bitmain produces antminers and also antpool is serious pool which mines serious % of bitcoins.

OP as I know roi on genesis mining is simply impossible but I know hashflare from the begining and as I know people are ok with them but still I don't suggest you to invest, better to try your own real life mining.

[Hui8]

Are genesis and hashflare trustable?

How made it untill at least break even?

I have already bougth 1TH in both cloud mining websites! So far made arround 9 dollar after 10 days in each! So 18 in total!

The return of investment on both sites are 1 year or even more. You can earn more if you trade alt coins. Regarding Genesis-mining and Hashflare.io legitimacy, that one is questionable if you ask me. They haven't posted anything that will prove that there really is a mining operation going on in any of their sites.

Both of them seems to be reasonable for now to invest in. But who knows these are behind the curtain role plays and you don't know whats going on there. I wouldn't trust them so quickly and invest.

[freebutcaged]

Could any of you tell me the difference between a cloud mining service like hash ocean which ran away with all the coins but actually paid

For some period of time and genesis mining stopping the contract after 60 days without even getting the initial investment back?

If I paid $500 to buy a contract for mining an altcoin and only received very small amounts every day to sum up around $450 and then

Nothing I have nothing there any more, what do you call that if not scam? cloud mining should work this way; I start a big farm with

GPUs and ASICs and have a total hash rate of 800GH/s for altcoins and 3700TH/s for Bitcoin, now some people actually gave me the

Money to start up the farm, shouldn't I share the profit equally regardless of the size of their investment? lets put it this way; if I buy

150MH/s to mine some altcoin and the cloud mining service has 1500MH/s in that coin then I should receive %10 of the profits after

All the fees deducted from the whole fund not deducting maintenance and other fees of 1500MH/s from the 150MH/s share of profits

And then pay the rest, these assholes are scamming us by doing that, we are practically paying for their expenses and still are happy

With the dust that we receive daily.

[Boinkit]

Are genesis and hashflare trustable?
How made it untill at least break even?

To your questions:

1. Are they trustable?

• Genesis ist trustable. They pay out every time, when the minimum value to transfer has been reached. In my case they transfer every 3 or 4 days to my ether wallet. They start transfering from the 2nd month on to get sure, they receive the price you have paid by credit card when you made the contract.
• About Hashflare I cannot tell anything. Ich wanted to sign a contract. To attract potential customers you can find a lot of discount codes, which promise you a discount of 10% or more. None of those codes worked for me. So I didn't become a customer of Hashflare. But as far as I've read a lot they should be trustable too.

2. Profit and Break Even
See my calculation to Genesis.
I invested 1000€ into a 2 years ether mining contract with 40 MH/s. After the first month I got about 0.65 Ether. It started with 0.029 on the first day. After 1 month I received about 0.017. Now after about 6 weeks mining I get 0.014 Ether. Based on this values, you can assume a diminution of about 40% each month. This means, after about 6 months the mining will become useless. With some luck, my revenue will be about 1.6 Ether.

Or more exactly: I bought 1.6 Ether for 1000€.

Dash (x11 mining) should be a little bit better, Bitcoin even worse than Ether. Independend on the current price and the performance of any coin, it's better to buy the coin you want than to pay it to a cloud mining company.

[biggbox]

Positive experience with HashFlare. ROI-ed with them once. I know other forum members who did the same.

[tiggytomb]

I have had experience with Genesis and although you do make a return you need to wait a year and it is such a small amount, trading some altcoins is far better.

[BrickShares]

But making a return in a year in the amount in bitcoin is good right! So lets say you invested 0.2 BTC and after a year you have 0.2 back then from there is only profit!

[fudster]

But making a return in a year in the amount in bitcoin is good right! So lets say you invested 0.2 BTC and after a year you have 0.2 back then from there is only profit!

As compare to investing on ICO, your 0.2 BTC could be tripled or turned into 1 btc when you trade with altcoins. Lets say you have bought your 0.2 btc with NEO while its price is yet 0.001 btc last two weeks. That would certainly be a huge profit without having the thoughts of getting scammed.

[BrickShares]

But not all icos are profitable! But your right with genesis and hashflare you migth invest in a ponzy!