Genesis Mining experience!?

[fistfullofbtc]

The problem with Genesis ' ....[/b][/size][/color][/font][/u]

bla bla scam scam scam, the same argument over and over again.

i invested in edgeless if i had kept as eth i would have made more money that argument works for loads of coins investments. i bought GM and have been clear about the costs and returns. yes i made money on referrals all of 3 usd dollars yesterday, you and others have signatures for coins etc, most likewise never actually used them just looking for a freebie.
i actually use them and they work for me, people ask for advice so i post. it is the same type of people shouting the loudest going from thread to thread trying to force people to their viewpoint. i have never forced anyone, they can decide. maybe btc doesn't go up maybe it goes down, who knows, but to dictate what people should do because you don't want them to do something is bloody stupid.

 My understanding is GM has been going 3 years, why not spam polybious or proper ponzi schemes.

this is my payouts pretty consitant, roi in 4 months, then mining at 100 mh for 1.8 months. like i said i bought it becuase x11 miners had aold out.

|https://thumbsnap.com/VwE1mezm]|https://thumbsnap.com/VwE1mezm[/url][/img]

This is the mining caclulator just over 92 dollars profit a month which matches my payouts.

https://www.cryptocompare.com/mining/calculator/dash?HashingPower=100&HashingUnit=MH%2Fs&PowerConsumption=0&CostPerkWh=0

probably best return would be ethereum mining presently.

[1713527184]

1713527184

[1713527184]

1713527184

[Panda Trump]

The problem with Genesis ' ....[/b][/size][/color][/font][/u]

bla bla scam scam scam, the same argument over and over again.

i invested in edgeless if i had kept as eth i would have made more money that argument works for loads of coins investments. i bought GM and have been clear about the costs and returns. yes i made money on referrals all of 3 usd dollars yesterday, you and others have signatures for coins etc, most likewise never actually used them just looking for a freebie.
i actually use them and they work for me, people ask for advice so i post. it is the same type of people shouting the loudest going from thread to thread trying to force people to their viewpoint. i have never forced anyone, they can decide. maybe btc doesn't go up maybe it goes down, who knows, but to dictate what people should do because you don't want them to do something is bloody stupid.

 My understanding is GM has been going 3 years, why not spam polybious or proper ponzi schemes.

this is my payouts pretty consitant, roi in 4 months, then mining at 100 mh for 1.8 months. like i said i bought it becuase x11 miners had aold out.

|https://thumbsnap.com/VwE1mezm]|https://thumbsnap.com/VwE1mezm[/url][/img]

This is the mining caclulator just over 92 dollars profit a month which matches my payouts.

https://www.cryptocompare.com/mining/calculator/dash?HashingPower=100&HashingUnit=MH%2Fs&PowerConsumption=0&CostPerkWh=0

probably best return would be ethereum mining presently.

Maybe I use the same argument over and over again because it's the best argument there is and because it describes the situation actually like it is?
It's not an opinion, rather a fact, that Genesis Mining isn't profitable.

I'm not going to argue more on this thread. If you want a discussion with me, please PM me and I'll be happy to prove that you're wrong.

The problem with Genesis Mining is that it's basically nothing more than a scam, but a lot of people still made ROI with it, because bitcoin's price rose...

Take this example:

Person A buys a contract at Genesis Mining. As bitcoin price is $300, he pays BTC0.1 for a contract ($30 contract).
Person A then makes money with the contract. He got a whopping BTC0.07 with the contract! The price of BTC is now $3000.
Person A is happy, as he now got 0.07*3000 = $210 worth of bitcoins from an initial investment of $30!
Investment: $30
ROI: $180

But what if he just held BTC instead of buying a Genesis Mining contract? He would've had BTC0.1 instead of BTC0.07!
That means he would then have:
Investment: $30
ROI: $270

People make money from buying its contracts, ONLY because of the rising Bitcoin Price!

An awful thing about Genesis Mining too, is that it has a referal system... This referal system makes the people who refer people to the site earn money, which means that people love to advertise the site and create nonsense stories which attract newbies to the site.
Because of this opportunity to make money through refering you to Genesis Mining, they don't mind lying about it or creating bullshit stories. The only thing they want is making money!

Conclusion: Do not invest in Genesis Mining! It's COMPLETE CRAP!

Thanks for the simple explanation. That's why I am opting to just keep the little bit of BTC I have ($25 right now heh.. Not a rich man but I am really into this Cryptocurrency thing.. Just trying to find my place in the world of BTC. The fees alone have me worried to even move my BTC) which is in Blockchain... Blockchain is safe.. Right? Heh..

Yeah, it's certainly better to hold than to waste it on cloudmining. For low amounts, BTC is indeed not very useful currently, as you're throwing away large percentages of your money et every transaction.. The only thing you could do is hoping on a rise in the price of bitcoin.
Anyways, Blockchain.info is quite safe, yes. I story my bitcoins on it too. For bigger amounts of bitcoins, I'd suggest getting a paper wallet though.

Regards,
Trump

[fistfullofbtc]

the payouts i get match the mining prediction. yes when i first bought them i was getting double the payout i get now, but the price has doubled.

i think people should use cloud mining, choose who you want. i bought a 3k usd rig myself, if i had invested in btc i would have doubled my money instead of making a small amount and not even paid it off. but i bought it because if the market went to nothing i still have a computer. now cloud mining is risky, could do a runner anytime, but that is life, we risk to make a bit of money when interest rates are peanuts.
 some people don't want to trade, don't want to buy coins, don't want to build a rig so buy cloudmining.

i have covered all bases, cloud mining, mining, trading a few coins.

you can use nicehash but i found the website a bit confusing that is why i used GM.

[Panda Trump]

the payouts i get match the mining prediction. yes when i first bought them i was getting double the payout i get now, but the price has doubled.

i think people should use cloud mining, choose who you want. i bought a 3k usd rig myself, if i had invested in btc i would have doubled my money instead of making a small amount and not even paid it off. but i bought it because if the market went to nothing i still have a computer. now cloud mining is risky, could do a runner anytime, but that is life, we risk to make a bit of money when interest rates are peanuts.
 some people don't want to trade, don't want to buy coins, don't want to build a rig so buy cloudmining.

i have covered all bases, cloud mining, mining, trading a few coins.

you can use nicehash but i found the website a bit confusing that is why i used GM.

Can you just answer these 3 questions:

When did you buy your contract at GM? (Date)
How much did it cost?
What cryptocurrency were you mining with the contract?

Regards,
Trump

[fistfullofbtc]

lol i have written this on other threads, so not going to post again as it is clear you have your view and i have mine. so if anybody want advice pm and i will be happy to answer questions. thanks i wont post anymore on this thread it is pointless.

[Panda Trump]

lol i have written this on other threads, so not going to post again as it is clear you have your view and i have mine. so if anybody want advice pm and i will be happy to answer questions. thanks i wont post anymore on this thread it is pointless.

It's not a difference in point of view, as you know, just as good as I do, that buying contracts at Genesis Mining is not profitable.
The only reason you are advertising it is because of your referal links.
It is not a difference in point of view, rather a difference in honesty. I tell the facts with full honesty whilst you lie about them for your own gain.

Regards,
Trump

[bitjamz]

actually you could make roi but you must be there from beginning. just wait for the next new coin that will be minable on genesis

[Panda Trump]

actually you could make roi but you must be there from beginning. just wait for the next new coin that will be minable on genesis

I have explained earlier in this thread that that's just not true and please read my posts for more information. PM me if you still don't get why Genesis Mining isn't profitable in the slightest way, besides for other scammers (people who refer others to the scam).

So let me just mention this... Here:

WRONG ADVICE! THIS IS COMPLETE BULLCRAP!

DO NOT INVEST WHEN NEXT COIN APPEARS! IT WON'T MAKE YOU MORE ROI THAN SIMPLY BUYING THE COIN ITSELF!

Regards,
Trump

[odolvlobo]

The problem with Genesis ' ....[/b][/size][/color][/font][/u]

bla bla scam scam scam, the same argument over and over again.

i invested in edgeless if i had kept as eth i would have made more money that argument works for loads of coins investments. i bought GM and have been clear about the costs and returns. yes i made money on referrals all of 3 usd dollars yesterday, you and others have signatures for coins etc, most likewise never actually used them just looking for a freebie.
i actually use them and they work for me, people ask for advice so i post. it is the same type of people shouting the loudest going from thread to thread trying to force people to their viewpoint. i have never forced anyone, they can decide. maybe btc doesn't go up maybe it goes down, who knows, but to dictate what people should do because you don't want them to do something is bloody stupid.

My understanding is GM has been going 3 years, why not spam polybious or proper ponzi schemes.

I don't consider GM to be a scam because they are open and transparent. You are getting exactly what you pay for. Others might consider it a scam because the customers are being mislead -- you aren't getting what you think you are getting.

However, I do believe it is a bad investment because you can do much better by buying the coins directly, rather than paying GM to mine them for you.

The source of the confusion is caused by looking at the investment in dollars, rather than the currency that is actually being earned. It confuses the gains/losses from holding the currency with the gains/losses from mining the currency.

[Panda Trump]

The problem with Genesis ' ....[/b][/size][/color][/font][/u]

bla bla scam scam scam, the same argument over and over again.

i invested in edgeless if i had kept as eth i would have made more money that argument works for loads of coins investments. i bought GM and have been clear about the costs and returns. yes i made money on referrals all of 3 usd dollars yesterday, you and others have signatures for coins etc, most likewise never actually used them just looking for a freebie.
i actually use them and they work for me, people ask for advice so i post. it is the same type of people shouting the loudest going from thread to thread trying to force people to their viewpoint. i have never forced anyone, they can decide. maybe btc doesn't go up maybe it goes down, who knows, but to dictate what people should do because you don't want them to do something is bloody stupid.

My understanding is GM has been going 3 years, why not spam polybious or proper ponzi schemes.

I don't consider GM to be a scam because they are open and transparent. You are getting exactly what you pay for. Others might consider it a scam because the customers are being mislead -- you aren't getting what you think you are getting.

However, I do believe it is a bad investment because you can do much better by buying the coins directly, rather than paying GM to mine them for you.

The source of the confusion is caused by looking at the investment in dollars, rather than the currency that is actually being earned. It confuses the gains/losses from holding the currency with the gains/losses from mining the currency.

Yup.

Genesis Mining CAN be profitable in dollars.
Genesis Mining CAN'T be profitable in the mined currency.

Easy as that. It's not going to make you profit. End of discussion.

Regards,
Trump

[cissrawk]

ummm... in my experience, i already on my profit (since my investment is back) well im enjoying my profit now because i just do small investment on the 1 years ago (maybe more i didnt remember) and give review on youtube with i put my referal on the description and doesnt update again. But a lot people do big invest(more than 500$ and more) , if im not forget, some people invest 2500$ with my discount code(referal). So i just got a lot power and give my return back faster and now im just enjoying my profit.

But if you ask me, i will say dont invest on genesis mining for now. Well, you can get a lot power from referal and make it faster but that was too risk. Better do trading or keep it.

[fistfullofbtc]

ummm... in my experience, i already on my profit (since my investment is back) well im enjoying my profit now because i just do small investment on the 1 years ago (maybe more i didnt remember) and give review on youtube with i put my referal on the description and doesnt update again. But a lot people do big invest(more than 500$ and more) , if im not forget, some people invest 2500$ with my discount code(referal). So i just got a lot power and give my return back faster and now im just enjoying my profit.

But if you ask me, i will say dont invest on genesis mining for now. Well, you can get a lot power from referal and make it faster but that was too risk. Better do trading or keep it.

i bought some more eth contract, 7 mhs sounds stupid but i struggle with my mining rig to get hash rate so this is like an add on.

[odolvlobo]

i bought some more eth contract, 7 mhs sounds stupid but i struggle with my mining rig to get hash rate so this is like an add on.

So, you spent about 0.7 ETH. I look forward to seeing how much ETH you will earn in 6 months.

[fistfullofbtc]

i bought some more eth contract, 7 mhs sounds stupid but i struggle with my mining rig to get hash rate so this is like an add on.

So, you spent about 0.7 ETH. I look forward to seeing how much ETH you have earned in 6 months.

this argument just doesntb work.

i spent 10 eth on my own mining rig to mine 16 over the year, as do thousands of other people. anything can be argued in the format  you use.

[odolvlobo]

i bought some more eth contract, 7 mhs sounds stupid but i struggle with my mining rig to get hash rate so this is like an add on.

So, you spent about 0.7 ETH. I look forward to seeing how much ETH you have earned in 6 months.

this argument just doesntb work.

i spent 10 eth on my own mining rig to mine 16 over the year, as do thousands of other people. anything can be argued in the format  you use.

Sorry, I messed up the grammar. I meant to write that I look forward to seeing how much ETH you will earn from your 0.7 ETH investment.

[Wignereff]

After upgrading (double the hashrate) there was no change in payout. After complaining, my payout was set to zero..... No more payouts at all.

Take from this whatever you want, but i have warned you.

[fistfullofbtc]

After upgrading (double the hashrate) there was no change in payout. After complaining, my payout was set to zero..... No more payouts at all.

Take from this whatever you want, but i have warned you.

payment sent to zero, wtf does that mean?

have you actually linked an address, when i paid it mined straight away. i could use it for x11 or btc. i also contacted cc and got answers back in minutes or a few hours. has it really changed that much in 4 months?

[cissrawk]

i bought some more eth contract, 7 mhs sounds stupid but i struggle with my mining rig to get hash rate so this is like an add on.

So, you spent about 0.7 ETH. I look forward to seeing how much ETH you have earned in 6 months.

this argument just doesntb work.

i spent 10 eth on my own mining rig to mine 16 over the year, as do thousands of other people. anything can be argued in the format  you use.

Sorry, I messed up the grammar. I meant to write that I look forward to seeing how much ETH you will earn from your 0.7 ETH investment.

If you pure with your own hashrate you will get long time ROI, i join on facebook group about genesis (not offiial) and strategy about it. You will get your own hasrate with people ref, after that some people will use your code too. Some people use my code and buy a lot ghs but i dont buy ghs/hashrate again because dont have money. 

After upgrading (double the hashrate) there was no change in payout. After complaining, my payout was set to zero..... No more payouts at all.

Take from this whatever you want, but i have warned you.

This is like on their facebook official page comment , some people complain about their payout and become 0.

For OP. Dont invest on genesis. Better do something like trading, or build your own mining rig.

[TiT Monkey]

to Genesis mining

you don't give me daily payout figures for XMR for 2 months now, you paid me 0.4 XMR 12 days ago that still hasn't arrived, 6 tickets and all you reply it IT is checking it, refund my bloody money or pay me my XMR, you could check the blockchain in 2 mins and pay me but still you don't, you are not a honest organisation!!!!

I would post screen shots if I could!!!!!!!!!!!!!!!!

[Emilie Carlsson]

I have done my own mining, set up servers, cooling, and data center space. Fixed the equipment when it failed and had to make sure it was online and secure from hackers. Genesis Mining is so much easier. I like how the chose Iceland as the Mining location with arctic air and thermal power. The interfaces are easy to use and the protection you from making dumb mistakes like too small of bitcoin deposits that eat up all your profits.
Bottom line these guys are reputable, honest, transparent (twitter, email, portal screens) and efficient. Look no further than here if you want to mine Crypto's.