Genesis-mining Legit ?

[Roboabhishek]

I have heard that "genesis-mining" is profitable and I think it's worth investing in their plan but I want to be sure if they won't scam.

I would be happy to hear your thoughts on this website.

[Batwingoz]

I saw my father once using this website can't say thing about it though

[Panda Trump]

I have heard that "genesis-mining" is profitable and I think it's worth investing in their plan but I want to be sure if they won't scam.

I would be happy to hear your thoughts on this website.

Profitability of this site is very hard to give an answer on. It's a fact that your risk is greater than your reward, but how big is that risk?
Let me give you some of my thoughts about it...

Profitability
Till now, Genesis Mining has been profitable for a lot of people... IN FIAT! That's an important detail people often forget..
In Genesis Mining, you pay basically with the currency you want to mine. So if the price of the currency you're mining rises, you will most likely make money. If the price of the currency you're mining drops, you will lose money. The thing is though, that if Genesis Mining would pay you back less than you invested, it would mean that you could still make money if the worth of the cryptocurrency increases. And that is exactly what happens at Genesis Mining!

Let me give you an example. This example contains a situation that has probably never happened in reality, but similar things have happened.

Person A is a smart, but definitely not a nice person.
Person B is a... Well, let's say he is simply not a too intelligent specimen..

Person A looks at GM. He understands that it's probably too good to be true, but notices its referal program. He decides to advertise GM, to make money for himself. He makes up a sweet story about "invest $5, get $500" and S
Person B sees Person A's awesome story and decides to click his referal link.
Person B looks at the site and thinks he can make tons of profit on it, so he buys a plan.
The Plan costs 10 Dashes. At the current Dash price, this costs $5/Dash, so $50 for The Plan.
The Plan then makes Person B $100 before the end of The Plan.
Person B is so happy... But he then realises that the price of Dash became $20/Dash, so he actually got only 5 Dashes back..
Person A is ofcourse happy, as he made money with The Plan Person B bought.

As you see, Person B now made money, as he turnt his $50 into $100... But if he just bought 10 Dashes and held tem, he would've had $200 by now! GM has earnt $100 through this, by just having him get the contract and paying him his own money back.

Now there are 3 possible outcomes leading to more advertisement of GM, making GM look more trustworthy, whilst it's actually a scam.
1. Person B realises he lost money, which means he wants to earn it back and take revenge... So he decides to make up a story and get referals to GM... Revenge + making money... eZ!
2. Person B doesn't realise he lost money, so he decides to give Genesis Mining positive feedback and recommend it to others...
3. Person A earns money, so he decides to advertise his referal link more, getting more people to be scammed by GM..

All these outcomes lead to GM seem more trustworthy, whilst it could just aswell be a scam.

Now I've seen a lot of stories of people who tried to prove that GM was legit and then realised it was actually a scam..
Others claim that it's legit, but I've not seen any proof of that... Till I see any proof of it, I consider it as a scam.

So maybe it's legit... But it's a fact that A LOT of people have lost money to it and I wouldn't recommend buying a plan from GM.
Even if it isn't meant to be a scam, in any case I've seen it would have been better to have bought the coin straight and just hold it.
 
And it doesn't even offer that much profit for the amount of risk it offers.
If you want more reward and, if you're skilled at it, less risk... Just invest in altcoins!

Regards,
Trump

[xFiber]

I have heard that "genesis-mining" is profitable and I think it's worth investing in their plan but I want to be sure if they won't scam.

I would be happy to hear your thoughts on this website.

Profitability of this site is very hard to give an answer on. It's a fact that your risk is greater than your reward, but how big is that risk?
Let me give you some of my thoughts about it...

Profitability
Till now, Genesis Mining has been profitable for a lot of people... IN FIAT! That's an important detail people often forget..
In Genesis Mining, you pay basically with the currency you want to mine. So if the price of the currency you're mining rises, you will most likely make money. If the price of the currency you're mining drops, you will lose money. The thing is though, that if Genesis Mining would pay you back less than you invested, it would mean that you could still make money if the worth of the cryptocurrency decreases. And that is exactly what happens at Genesis Mining!

Let me give you an example. This example contains a situation that has probably never happened in reality, but similar things have happened.

Person A is a smart, but definitely not a nice person.
Person B is a... Well, let's say he is simply not a too intelligent specimen..

Person A looks at GM. He understands that it's probably too good to be true, but notices its referal program. He decides to advertise GM, to make money for himself. He makes up a sweet story about "invest $5, get $500" and S
Person B sees Person A's awesome story and decides to click his referal link.
Person B looks at the site and thinks he can make tons of profit on it, so he buys a plan.
The Plan costs 10 Dashes. At the current Dash price, this costs $5/Dash, so $50 for The Plan.
The Plan then makes Person B $100 before the end of The Plan.
Person B is so happy... But he then realises that the price of Dash became $20/Dash, so he actually got only 5 Dashes back..
Person A is ofcourse happy, as he made money with The Plan Person B bought.

As you see, Person B now made money, as he turnt his $50 into $100... But if he just bought 10 Dashes and held tem, he would've had $200 by now! GM has earnt $100 through this, by just having him get the contract and paying him his own money back.

Now there are 3 possible outcomes leading to more advertisement of GM, making GM look more trustworthy, whilst it's actually a scam.
1. Person B realises he lost money, which means he wants to earn it back and take revenge... So he decides to make up a story and get referals to GM... Revenge + making money... eZ!
2. Person B doesn't realise he lost money, so he decides to give Genesis Mining positive feedback and recommend it to others...
3. Person A earns money, so he decides to advertise his referal link more, getting more people to be scammed by GM..

All these outcomes lead to GM seem more trustworthy, whilst it could just aswell be a scam.

Now I've seen a lot of stories of people who tried to prove that GM was legit and then realised it was actually a scam..
Others claim that it's legit, but I've not seen any proof of that... Till I see any proof of it, I consider it as a scam.

So maybe it's legit... But it's a fact that A LOT of people have lost money to it and I wouldn't recommend buying a plan from GM.
Even if it isn't meant to be a scam, in any case I've seen it would have been better to have bought the coin straight and just hold it.
 
And it doesn't even offer that much profit for the amount of risk it offers.
If you want more reward and, if you're skilled at it, less risk... Just invest in altcoins!

Regards,
Trump

So you completely ignored the fact that you can invest in Genesis with fiat and by doing so you can get really profitable? I purchased the most profitable contract on Genesis (with bitcoin) and to test the system out and figure out for myself whether it is worth it or not?

[digaran]

Looks like some body spent some time to do a research and write a review here, lol not at all suspicious.
Being legit is entirely different than being profitable.

[Panda Trump]

I have heard that "genesis-mining" is profitable and I think it's worth investing in their plan but I want to be sure if they won't scam.

I would be happy to hear your thoughts on this website.

Profitability of this site is very hard to give an answer on. It's a fact that your risk is greater than your reward, but how big is that risk?
Let me give you some of my thoughts about it...

Profitability
Till now, Genesis Mining has been profitable for a lot of people... IN FIAT! That's an important detail people often forget..
In Genesis Mining, you pay basically with the currency you want to mine. So if the price of the currency you're mining rises, you will most likely make money. If the price of the currency you're mining drops, you will lose money. The thing is though, that if Genesis Mining would pay you back less than you invested, it would mean that you could still make money if the worth of the cryptocurrency decreases. And that is exactly what happens at Genesis Mining!

Let me give you an example. This example contains a situation that has probably never happened in reality, but similar things have happened.

Person A is a smart, but definitely not a nice person.
Person B is a... Well, let's say he is simply not a too intelligent specimen..

Person A looks at GM. He understands that it's probably too good to be true, but notices its referal program. He decides to advertise GM, to make money for himself. He makes up a sweet story about "invest $5, get $500" and S
Person B sees Person A's awesome story and decides to click his referal link.
Person B looks at the site and thinks he can make tons of profit on it, so he buys a plan.
The Plan costs 10 Dashes. At the current Dash price, this costs $5/Dash, so $50 for The Plan.
The Plan then makes Person B $100 before the end of The Plan.
Person B is so happy... But he then realises that the price of Dash became $20/Dash, so he actually got only 5 Dashes back..
Person A is ofcourse happy, as he made money with The Plan Person B bought.

As you see, Person B now made money, as he turnt his $50 into $100... But if he just bought 10 Dashes and held tem, he would've had $200 by now! GM has earnt $100 through this, by just having him get the contract and paying him his own money back.

Now there are 3 possible outcomes leading to more advertisement of GM, making GM look more trustworthy, whilst it's actually a scam.
1. Person B realises he lost money, which means he wants to earn it back and take revenge... So he decides to make up a story and get referals to GM... Revenge + making money... eZ!
2. Person B doesn't realise he lost money, so he decides to give Genesis Mining positive feedback and recommend it to others...
3. Person A earns money, so he decides to advertise his referal link more, getting more people to be scammed by GM..

All these outcomes lead to GM seem more trustworthy, whilst it could just aswell be a scam.

Now I've seen a lot of stories of people who tried to prove that GM was legit and then realised it was actually a scam..
Others claim that it's legit, but I've not seen any proof of that... Till I see any proof of it, I consider it as a scam.

So maybe it's legit... But it's a fact that A LOT of people have lost money to it and I wouldn't recommend buying a plan from GM.
Even if it isn't meant to be a scam, in any case I've seen it would have been better to have bought the coin straight and just hold it.
 
And it doesn't even offer that much profit for the amount of risk it offers.
If you want more reward and, if you're skilled at it, less risk... Just invest in altcoins!

Regards,
Trump

So you completely ignored the fact that you can invest in Genesis with fiat and by doing so you can get really profitable? I purchased the most profitable contract on Genesis (with bitcoin) and to test the system out and figure out for myself whether it is worth it or not?

Nope, I'm not ignoring that fact. You simply do not understand what I was talking about. Let me explain a bit better, as I might've been a bit vague...

You can buy contracts on Genesis with fiat. True! But what you're basically doing then, is paying them altcoins in the shape of fiat. It stays a fact that you will 99% sure receive less {Mined Cryptocurrency} back than you paid. (If you would pay $50 fiat at bitcoin price $2500, this equals 0.02 BTC ofc.)
You can profit in Fiat, but 99% sure not in the mined cryptocurrency. This means that you would get more profit if you just invested in the cryptocurrency you wanted to mine.


And remember: Genesis Mining is made to take money. Not to give money.

[cafucafucafu]

I have heard that "genesis-mining" is profitable and I think it's worth investing in their plan but I want to be sure if they won't scam.

I would be happy to hear your thoughts on this website.

Don't invest!

Genesis mining is legit but in the end you are never going to break even. If you want to use it as a way to lock away funds so that you don't spend all of it at once then sure, but only expect maximum 70% ROI back, if not even less.

They advertise their site as a profitable business opportunity when everyone knows that difficulty is shooting up so much on a weekly basis. My contract earnings were outpaced by the fees they charged a few months ago, which means that now i receive nothing. You're also betting on bitcoin being up, if bitcoin crashes, then your contract is highly likely going to be cancelled by them as well.

[Yuuto]

I have heard that "genesis-mining" is profitable and I think it's worth investing in their plan but I want to be sure if they won't scam.

I would be happy to hear your thoughts on this website.

It is extremely like in my opinion that you have heard about Genesis Mining on youtube, from a bitcoin based youtuber(I know for a fact that Trevon James does some shows on Genesis Mining every now and then).

You'll very rarely see someone even break even with Genesis mining. The only reason why these people on youtube is promoting it is because they're getting affiliate earnings from GM every time someone buys a plan with them.

GM is probably legit, unlike ponzi cloud mining sites, but that doesn't mean that it's going to be profitable. Their maintenance fees are probably going to end your contract which is supposed to be "lifetime" within 4 years due to block halvings.

[simon149]

In case you are interested I have published my payouts over the last month, and did some calculations on it.
You can find the article on my blog: Payout on Genesis mining.

I have already got my investment back and are expecting a nice profit towards the future.
If you have any questions let me know, but I think the number speaks for themselves.

---

edit: this article is about BTC. I'll try to run the numbers as well with other coins like ETH.

[xIIImaL]

In case you are interested I have published my payouts over the last month, and did some calculations on it.
You can find the article on my blog: Payout on Genesis mining.

I have already got my investment back and are expecting a nice profit towards the future.
If you have any questions let me know, but I think the number speaks for themselves.

---

edit: this article is about BTC. I'll try to run the numbers as well with other coins like ETH.

Anybody can write a article about it accordingly. Please share the payout screenshot of yours that will give a clear view about the payment and it is legit. I have created a mining account in genesis but It asks me to buy a hashpower to start mining. If this legit than any cloud mining. I will definitely invest on it.

[Roboabhishek]

In case you are interested I have published my payouts over the last month, and did some calculations on it.
You can find the article on my blog: Payout on Genesis mining.

I have already got my investment back and are expecting a nice profit towards the future.
If you have any questions let me know, but I think the number speaks for themselves.

---

edit: this article is about BTC. I'll try to run the numbers as well with other coins like ETH.

Anybody can write a article about it accordingly. Please share the payout screenshot of yours that will give a clear view about the payment and it is legit. I have created a mining account in genesis but It asks me to buy a hashpower to start mining. If this legit than any cloud mining. I will definitely invest on it.

It's like gambling.
They sent me a mail that they can cancel the contract if the price of currency increases also depends on the difficulty rate.
The time I heard they can cancel it I thought it's useless

[piloder]

Cloud mining = virtual mining
Virtual mining power those cloud mining sites sell might not be equal to real mining power those sites actually own.

Genesis mining is registered entity but this doesn't mean you will make profit before they close their site.

[simon149]

In case you are interested I have published my payouts over the last month, and did some calculations on it.
You can find the article on my blog: Payout on Genesis mining.

I have already got my investment back and are expecting a nice profit towards the future.
If you have any questions let me know, but I think the number speaks for themselves.

---

edit: this article is about BTC. I'll try to run the numbers as well with other coins like ETH.

Anybody can write a article about it accordingly. Please share the payout screenshot of yours that will give a clear view about the payment and it is legit. I have created a mining account in genesis but It asks me to buy a hashpower to start mining. If this legit than any cloud mining. I will definitely invest on it.

The payouts are actually listed below the article. Both in text form (so you can do your own calculations) and in screenshot.
You could run the numbers yourself so you can see the return on investment.

[Pakar11220]

In case you are interested I have published my payouts over the last month, and did some calculations on it.
You can find the article on my blog: Payout on Genesis mining.

I have already got my investment back and are expecting a nice profit towards the future.
If you have any questions let me know, but I think the number speaks for themselves.

---

edit: this article is about BTC. I'll try to run the numbers as well with other coins like ETH.

Anybody can write a article about it accordingly. Please share the payout screenshot of yours that will give a clear view about the payment and it is legit. I have created a mining account in genesis but It asks me to buy a hashpower to start mining. If this legit than any cloud mining. I will definitely invest on it.

The thing about mining is that it is not the most trust worthy way to invest your money. The amount of companies that are considered legit to mine your bitcoins is very low, most of them are fraud. Genesis mining is one of the old companies and is obviously legit. But legit doesn’t rhyme with profitable. With the rising price of bitcoins it’s very hard to understand what profit means in mining, and how to get it. People mostly use these king of marketing techniques to steal you bitcoins.

[BitHodler]

Genesis mining is one of the old companies and is obviously legit.

Obviously legit? Well, there is only one single way to prove legitimacy, and that's providing people what they for so long have been asking for ~ the Bitcoin mining addresses their block rewards flow into.

Since GM's very first day, people have been asking for these addresses, but GM for obvious reasons never responded to any of these requests ~ it's pathetic that people believe they are legit.

There is really no reason for GM to try to hide these addresses from the public, since everything is open for anyone to look through anyway. That's Bitcoin's transparent nature ~ there is nothing that one can hide.

[lottery248]

i have saw that they are not gonna publish what kind of pool they are using, and as well IIRC they have not been signing any blocks from the beginning of that site, suspicious. i have saw it in Hong Kong, but i don't sure if it has referrals.

[Hyuiguia]

until now genesis-mining is the best cloud mining
and still always paid

[tsaroz]

until now genesis-mining is the best cloud mining
and still always paid

After a long research I reached in the conclusion that genesis mining is the only profitable legitimate cloud mining.
And I invested some buying a mining contract on 6th of August.
No payouts were made till 10.
After making a support ticket I got one payout for 6th august but after that there are no notification of payouts till now.

[Roboabhishek]

Genesis mining is one of the old companies and is obviously legit.

Obviously legit? Well, there is only one single way to prove legitimacy, and that's providing people what they for so long have been asking for ~ the Bitcoin mining addresses their block rewards flow into.

Since GM's very first day, people have been asking for these addresses, but GM for obvious reasons never responded to any of these requests ~ it's pathetic that people believe they are legit.

There is really no reason for GM to try to hide these addresses from the public, since everything is open for anyone to look through anyway. That's Bitcoin's transparent nature ~ there is nothing that one can hide.

Actually it's really suspicious as they are not providing the address of mining blocks.
Then i think it's better to not use that website sooner or later they will scam for sure.

[Weawant]

Genesis mining is one of the old companies and is obviously legit.

Obviously legit? Well, there is only one single way to prove legitimacy, and that's providing people what they for so long have been asking for ~ the Bitcoin mining addresses their block rewards flow into.

Since GM's very first day, people have been asking for these addresses, but GM for obvious reasons never responded to any of these requests ~ it's pathetic that people believe they are legit.

There is really no reason for GM to try to hide these addresses from the public, since everything is open for anyone to look through anyway. That's Bitcoin's transparent nature ~ there is nothing that one can hide.

Actually it's really suspicious as they are not providing the address of mining blocks.
Then i think it's better to not use that website sooner or later they will scam for sure.

They became more suspicious nowadays since they had been secretive for that matter and I can't even imagine on how they can provide those payouts to their investors while their mining business is becoming more heavier for these years. And maybe its better that we should avoid them since maybe one of these days the glory month of genisis-minings will be gone and they will perform the exit scam show .