i want invest money in cloud mining

[johnwest]

No, my advice is no, too much time for getting ROI back.

Cloud mining, as well as Genesis mining, was profitable only in the early phases and now you cant even get back your ROI. Many investors thought it will be profitable and invested like you but rarely someone made a profit out of it. Better to stay away from it.

[darthmaul]

Thats very tough decision. You should be careful with cloud mining due to many factors. The fist thing with could mining is scamming out. Most of the cloud miners get scammed because the host do not pay back due to unprofitable contracts. They turn out like that because they are not able to pay the mining electricity costs, maintenance charges for some reasons. As you might be knowing that network difficulty is increasing day by day due increased number of miners in the field itself. This has led to higher fees too as well as their competition for blockchain. To overcome this problem they only have on option and that is to get more miners at works which means more investment which they can not do as they did not make any profit. So they simply shut the program and the cloud mining turns Ponzi. Bette stay away from it for this major reason.

[zeze18]

I agree with you, if it turns out that the mining program is sometimes just a fonzi, of course this will result in losses on mining investment.
It seems to have to be more selective again in mining and requires various considerations for its implementation.

[BitHodler]

It seems to have to be more selective again in mining and requires various considerations for its implementation.

You don't have to be selective at all when it comes to cloud mining. You only have to look at whether or not cloud mining is a profitable option ~ answer is a big NO.

That should be enough reason to avoid cloud mining in general, right? What person is going to invest in something that isn't profitable at all? It makes no sense.

If you want to get rid of your money, then be so kind to donate them to a charity instead of filling the pockets of con artists.

[Heartilly]

im targeting genesis mining, what do you advice me ?

i think invest 3000$ in genesis mining, is big risk?

i know, that there is trading system and maybe i will lost my 3000$ ;

what is risk ? and what can you advice me ?

Your $3,000 maybe will lost too during cloudmining. Why? In the future you will pullout it wasting some time. Genesis seems to be legit. Compute your ROI and remember it will changed as time passes by. I think after you saw your calculation, you will now have doubts for your expected profits.

Im sure you don't want to wait for long time for small profits as no sense to do that even for passive income. I suggest to used that $3,000 on another risky method but worth to try.

[YoungThurstonHowell]

I would not recommend Genesis Mining. I have 30Mhs of ETH mining with them and since my contract started 4 weeks ago I've already had to write multiple support tickets for missing payments. Each time I write them they give a different excuse for why they missed a payment for over .06 ETH and a $5 ref. commission. On top of all that my daily profit has decreased by 30% in that short amount of time.

[Pagandog]

I would not recommend Genesis Mining. I have 30Mhs of ETH mining with them and since my contract started 4 weeks ago I've already had to write multiple support tickets for missing payments. Each time I write them they give a different excuse for why they missed a payment for over .06 ETH and a $5 ref. commission. On top of all that my daily profit has decreased by 30% in that short amount of time.

I have had a similar yet different experience.  I have 60Mhs of ETH and i have seen my rate drop but that is due to more people mining ETH.  That is clearly expected with mining.  Even if you purchased your own rig it would be mining less now that it was a few weeks ago.  As for daily profit.....my has gone down as well but that is due to the price of ETH dropping too, is your 30% figure based on ETH or $$$ amount ...with the upswing today my profit is going up....I am pretty sure this is the risk/benefit to mining.

[Wusolini]

DO NOT INVEST IN CLOUDMINING ... definitely not worth it.

If you still want to cloudmine then your only options are Hashnest, Bixin or BW.

But be aware you can't profit just on the mining itself. You have to be active trader (buy/sell GHs all the time). Mining revenues are only kind of bonus.

[Wipro]

I would not recommend Genesis Mining. I have 30Mhs of ETH mining with them and since my contract started 4 weeks ago I've already had to write multiple support tickets for missing payments. Each time I write them they give a different excuse for why they missed a payment for over .06 ETH and a $5 ref. commission. On top of all that my daily profit has decreased by 30% in that short amount of time.

I have had a similar yet different experience.  I have 60Mhs of ETH and i have seen my rate drop but that is due to more people mining ETH.  That is clearly expected with mining.  Even if you purchased your own rig it would be mining less now that it was a few weeks ago.  As for daily profit.....my has gone down as well but that is due to the price of ETH dropping too, is your 30% figure based on ETH or $$$ amount ...with the upswing today my profit is going up....I am pretty sure this is the risk/benefit to mining.

 I have planned to start cloud mining in Genesis for btc alone with 30th hash power. Will it good returns to me. If I have started with it. More over it shows 0.0003 btc for maintenance when ai tried to buy the hashpower.
Is it correct? Please confirm the information bros.

[iqlimasyadiqa]

im targeting genesis mining, what do you advice me ?

i think invest 3000$ in genesis mining, is big risk?

i know, that there is trading system and maybe i will lost my 3000$ ;

what is risk ? and what can you advice me ?

If you have 3000USD of money then buying hardware mining rig is the right choice. You can mine etherum coin and earn money around 500USD within a month. By buying 6 pieces of VGA RX470. You can earn more profit. Investing in cloud mining like genesis is easy, you will not be bothered with various settings, but you will get pressure because we do not know how long cloud mining will survive. Buying hardware mining rig will give you greater comfort, security and profit. Besides that you will gain more knowledge as you design your own mining system.

[m0924]

If you really want to invest in cloudmining then try to invest that is okey for you to loose I mean the amount that is nothing for you when gone.
Investing in cloudmining is like you are trying to put your money at risk of course which is nothing for you.
If I were you I will study about trading different types of coins then learn and apply, that's safe because you manage your own stocks and anytime you can deposit and withdraw it. For me trading is the best that is if you have learned its strategy. Good luck!

[crairezx20]

im targeting genesis mining, what do you advice me ?

i think invest 3000$ in genesis mining, is big risk?

i know, that there is trading system and maybe i will lost my 3000$ ;

what is risk ? and what can you advice me ?

If you have 3000USD of money then buying hardware mining rig is the right choice. You can mine etherum coin and earn money around 500USD within a month. By buying 6 pieces of VGA RX470. You can earn more profit. Investing in cloud mining like genesis is easy, you will not be bothered with various settings, but you will get pressure because we do not know how long cloud mining will survive. Buying hardware mining rig will give you greater comfort, security and profit. Besides that you will gain more knowledge as you design your own mining system.

Agree much better to invest to buy a hardware or build a mining rig that you are investing on genesis mining or any cloud mining site..
That actually not profitable if you want to gain a good profit investing and buying your own miner can gives you a chance to gain profit depends if you are paying low electricity cost or there are some alternative power source which solar panel its not costly too much and i think it can help to gain more profit..

[carlisle1]

im targeting genesis mining, what do you advice me ?

i think invest 3000$ in genesis mining, is big risk?

i know, that there is trading system and maybe i will lost my 3000$ ;

what is risk ? and what can you advice me ?

Why don't you just invest it in bitcoin instead of investing to a certain cloud mining services you have a huge amount money and it will be just like a bubble once you have been scammed and although genesis mining has operated since 2013 you can't be sure still if it can be profitable . It's still your choice anyway if you really want to put your money on genesis mining or the others but before dealing with you should the risks and what you could possibly lost .

[lumeire]

DO NOT INVEST IN CLOUDMINING ... definitely not worth it.

If you still want to cloudmine then your only options are Hashnest, Bixin or BW.

But be aware you can't profit just on the mining itself. You have to be active trader (buy/sell GHs all the time). Mining revenues are only kind of bonus.

True. It's exactly just like buying stocks. You buy Gh/s and you get mining revenues like dividends, but the real profit comes from trading, and not from holding these GHs.

[Barbut]

Thread started two years ago and still active : Scam Alert : Do Not Invest In Genesis Mining  https://bitcointalk.org/index.php?topic=1185909.460

I wouldn`t recommend cloud mining to anyone, reaching ROI is very hard and where is the profit? All that waiting is not a problem, but we all know that cloud mining services can disappear in any moment. With so many good altcoins there, and price rise I would put my money in some of them not in cloud mining, or some casino bankroll, everything is better then cloud.
But in the end you are the king of your money, so invest them in what ever you wish.

[Tyrantt]

im targeting genesis mining, what do you advice me ?

i think invest 3000$ in genesis mining, is big risk?

i know, that there is trading system and maybe i will lost my 3000$ ;

what is risk ? and what can you advice me ?

Do not invest into any cloud service. Today, you can't really get ROI with cloud mining. You could get it a few years back as I did with cex.io, but with the todays difficulty, I'd suggest you not to invest that money in cloud mining.

You'd probably have a better luck and profit with investing into some dice website prize pool.

[Premgen]

You are better off using that money to build your own mining rig to mine alto coins. You will make your ROI if you mine smart.

[caffinated]

im targeting genesis mining, what do you advice me ?

i think invest 3000$ in genesis mining, is big risk?

i know, that there is trading system and maybe i will lost my 3000$ ;

what is risk ? and what can you advice me ?

Do not invest into any cloud service. Today, you can't really get ROI with cloud mining. You could get it a few years back as I did with cex.io, but with the todays difficulty, I'd suggest you not to invest that money in cloud mining.

You'd probably have a better luck and profit with investing into some dice website prize pool.

Exactly! Dice MIGHT pay out something, minings are all scams if they promise returns, the honest miners already claim you will not recover your returns at low level entries.

[illusioNiZt]

Why would you risk such a big amount, cloud mining has a bad reputation you should find better ways to invest maybe in shares I think it would be better.

[onrise]

I would suggest that be cautious investing in any cloud mining because majorly many are the ponzi schemes where they will initially give you returns but after sometime the excuses will start and at the need will shutdown taking you money . So instead invest in btc or other altcoins if you feel which will have a good future so that atleast your money will be safe than investing in such ponzi schemes.