Genesis Mining

[Crypto_Addict]

Is genesis mining legit or is it a total scam?
If genesis is legit is it even profitable?

Thanks

[1714695875]

1714695875

[wonderchaff]

i have about 3 account on genesis mining. My investments are back already so for me its legit.

[ro2sf]

I can say it's legit since I'm getting payouts for the last 6 months now.

I've been wanting to add more Bitcoin contracts from them but sadly they are sold out for now.

They said they'll be opening up new contracts soon. So watch out for it if you're interested.

[InvoKing]

Is genesis mining legit or is it a total scam?
If genesis is legit is it even profitable?

Thanks

Cloud mining should be treated case by case but most of them are a pure scam.
For Genesis Mining until now it seems that it is legit, operating for years, paying users...etc and I remember that I saw their rigs in a post here.
The only problem is : is it profitable?
You should make your own calcul taking in consideration the maintenance fees and the difficulty. If the ROI will take much time then try to find another investment method.

[swogerino]

Genesis mining is a sophisticated scam scheme. Their Ceo-s are well known they go on different seminars regarding bitcoin, do a lot of interviews in youtube but when you join them you see the real truth. The real truth is you will never Roi with them as they will keep bringing up new stuff like electricity cost, maintenance cost going up plus the difficulty increasing of the coin you are mining. You should forget Genesis cloud mining and all other services, you will not make Roi with them so better invest your money into something else.

[felicita]

iam  also using genesis mining now since more than two years and i got my ROi there !
here is a promo code witch give you an 3% discount:  c1jFgO




kind regards

[Crypto_Addict]

Thank you for all the feedback

Appreciated!

[mentalny]

Probably investing in BTC would give you better ROI than buying cloud mining services. It's just still profitable because raising bitcoin's price...

[pixie85]

iam  also using genesis mining now since more than two years and i got my ROi there !
here is a promo code witch give you an 3% discount:  c1jFgO




kind regards

Is that how you made your ROI? By promoting them and spamming promo codes? The only thing missing in your post is a referral link.
People made their money back because Bitcoin's price went up and GM made money on all the coins they were holding.

Probably investing in BTC would give you better ROI than buying cloud mining services. It's just still profitable because raising bitcoin's price...

It's certain!

[Rahar02]

Genesis mining is a sophisticated scam scheme. Their Ceo-s are well known they go on different seminars regarding bitcoin, do a lot of interviews in youtube but when you join them you see the real truth. The real truth is you will never Roi with them as they will keep bringing up new stuff like electricity cost, maintenance cost going up plus the difficulty increasing of the coin you are mining. You should forget Genesis cloud mining and all other services, you will not make Roi with them so better invest your money into something else.

Well, others said the opposite, there are many people stated have reached ROI and gain profits since then. Look at comments above.
There are many youtubers have been investing in genesis and give some proofs regards their investments, it takes 6 months for ROI.
Genesis mining has launched some videos of their mining farm in Iceland as well, so far it's legit.
However, everyone has to deal with a risk in every investment, including invest in genesis due to there are some maintenance costs and difficulty increase over time.

[mrcash02]

Genesis mining is a sophisticated scam scheme. Their Ceo-s are well known they go on different seminars regarding bitcoin, do a lot of interviews in youtube but when you join them you see the real truth. The real truth is you will never Roi with them as they will keep bringing up new stuff like electricity cost, maintenance cost going up plus the difficulty increasing of the coin you are mining. You should forget Genesis cloud mining and all other services, you will not make Roi with them so better invest your money into something else.

Well, others said the opposite, there are many people stated have reached ROI and gain profits since then. Look at comments above.
There are many youtubers have been investing in genesis and give some proofs regards their investments, it takes 6 months for ROI.
Genesis mining has launched some videos of their mining farm in Iceland as well, so far it's legit.
However, everyone has to deal with a risk in every investment, including invest in genesis due to there are some maintenance costs and difficulty increase over time.

6 months ago ~ $1430 BTC price. After seeing BTC price skyrocket from $1430 to $7000 it's almost impossible to don't hit ROI. 
But if people had just held the BTCs on their wallets or generating passive income the profit would have been much higher...

[Bitfort]

Genesis mining is a sophisticated scam scheme. Their Ceo-s are well known they go on different seminars regarding bitcoin, do a lot of interviews in youtube but when you join them you see the real truth. The real truth is you will never Roi with them as they will keep bringing up new stuff like electricity cost, maintenance cost going up plus the difficulty increasing of the coin you are mining. You should forget Genesis cloud mining and all other services, you will not make Roi with them so better invest your money into something else.

Well, others said the opposite, there are many people stated have reached ROI and gain profits since then. Look at comments above.
There are many youtubers have been investing in genesis and give some proofs regards their investments, it takes 6 months for ROI.
Genesis mining has launched some videos of their mining farm in Iceland as well, so far it's legit.
However, everyone has to deal with a risk in every investment, including invest in genesis due to there are some maintenance costs and difficulty increase over time.

6 months ago ~ $1430 BTC price. After seeing BTC price skyrocket from $1430 to $7000 it's almost impossible to don't hit ROI.  
But if people had just held the BTCs on their wallets or generating passive income the profit would have been much higher...

True.
Genesis is legit company that will take your money and distribute part of them back to you in future.

Your revenues are calculated in USD.
If you bought hashrate using BTC, you will never get back the same BTC amount. Though on dashboard you will see amazing USD values (given by raising BTC price) you are acctually in loss (compared to possible profits when you would keep holding BTCs).

If you bought hashrate using USD, you will never receive equivalent amount of BTC (compared to when you would buy them directly). ... actually there is option the BTC price goes really down (but in this case your contrant will be cancelled as non profitable )

In other words: it's lose/lose for customers. win/win for genesis  (briliant business model they made ... hat down)
Your only chance to profit is to get referrals. But ask yourself, do you feel happy promoting such scheme? If so, shame on you.

[SamsungBitcoin]

Is genesis mining legit or is it a total scam?
If genesis is legit is it even profitable?

Thanks

Cloud mining should be treated case by case but most of them are a pure scam.
For Genesis Mining until now it seems that it is legit, operating for years, paying users...etc and I remember that I saw their rigs in a post here.
The only problem is : is it profitable?
You should make your own calcul taking in consideration the maintenance fees and the difficulty. If the ROI will take much time then try to find another investment method.

Agree with this mate, Genesis is Legit but if you calculate the ROI it takes long period of time, then you will decide if you continue to invest on it or finding other investment method which is much profitable. Before i have plan to invest in Genesis mining but when i read one comment and give the full calculation of given interest for every investment of genesis and i see that more than 6 months is the actual ROI it is ridiculous.

[Btc_1856]

Is genesis mining legit or is it a total scam?
If genesis is legit is it even profitable?

Thanks

When compared to other cloud mining sites I think Genesis mining better because still they are paying some % to the investors on daily basis. But there is no guarantee how long they are going pay, you have to face in order to get paid.

[mrcash02]

Genesis mining is a sophisticated scam scheme. Their Ceo-s are well known they go on different seminars regarding bitcoin, do a lot of interviews in youtube but when you join them you see the real truth. The real truth is you will never Roi with them as they will keep bringing up new stuff like electricity cost, maintenance cost going up plus the difficulty increasing of the coin you are mining. You should forget Genesis cloud mining and all other services, you will not make Roi with them so better invest your money into something else.

Well, others said the opposite, there are many people stated have reached ROI and gain profits since then. Look at comments above.
There are many youtubers have been investing in genesis and give some proofs regards their investments, it takes 6 months for ROI.
Genesis mining has launched some videos of their mining farm in Iceland as well, so far it's legit.
However, everyone has to deal with a risk in every investment, including invest in genesis due to there are some maintenance costs and difficulty increase over time.

6 months ago ~ $1430 BTC price. After seeing BTC price skyrocket from $1430 to $7000 it's almost impossible to don't hit ROI.  
But if people had just held the BTCs on their wallets or generating passive income the profit would have been much higher...

True.
Genesis is legit company that will take your money and distribute part of them back to you in future.

Your revenues are calculated in USD.
If you bought hashrate using BTC, you will never get back the same BTC amount. Though on dashboard you will see amazing USD values (given by raising BTC price) you are acctually in loss (compared to possible profits when you would keep holding BTCs).

If you bought hashrate using USD, you will never receive equivalent amount of BTC (compared to when you would buy them directly). ... actually there is option the BTC price goes really down (but in this case your contrant will be cancelled as non profitable )

In other words: it's lose/lose for customers. win/win for genesis  (briliant business model they made ... hat down)
Your only chance to profit is to get referrals. But ask yourself, do you feel happy promoting such scheme? If so, shame on you.

Yes, that is the point, unfortunatelly it's not everyone who can see this way.

About referrals: That is why there are several Youtubers making videos about this kind of operation and showing their "ROI successful stories" (as the quote above said). They want referrals to maximize their earnings and decrease the "loss" they have had by not buying Bitcoins and just holding this.

[Fatunad]

Genesis mining is a sophisticated scam scheme. Their Ceo-s are well known they go on different seminars regarding bitcoin, do a lot of interviews in youtube but when you join them you see the real truth. The real truth is you will never Roi with them as they will keep bringing up new stuff like electricity cost, maintenance cost going up plus the difficulty increasing of the coin you are mining. You should forget Genesis cloud mining and all other services, you will not make Roi with them so better invest your money into something else.

Well, others said the opposite, there are many people stated have reached ROI and gain profits since then. Look at comments above.
There are many youtubers have been investing in genesis and give some proofs regards their investments, it takes 6 months for ROI.
Genesis mining has launched some videos of their mining farm in Iceland as well, so far it's legit.
However, everyone has to deal with a risk in every investment, including invest in genesis due to there are some maintenance costs and difficulty increase over time.

6 months ago ~ $1430 BTC price. After seeing BTC price skyrocket from $1430 to $7000 it's almost impossible to don't hit ROI.  
But if people had just held the BTCs on their wallets or generating passive income the profit would have been much higher...

True.
Genesis is legit company that will take your money and distribute part of them back to you in future.

Your revenues are calculated in USD.
If you bought hashrate using BTC, you will never get back the same BTC amount. Though on dashboard you will see amazing USD values (given by raising BTC price) you are acctually in loss (compared to possible profits when you would keep holding BTCs).

If you bought hashrate using USD, you will never receive equivalent amount of BTC (compared to when you would buy them directly). ... actually there is option the BTC price goes really down (but in this case your contrant will be cancelled as non profitable )

In other words: it's lose/lose for customers. win/win for genesis  (briliant business model they made ... hat down)
Your only chance to profit is to get referrals. But ask yourself, do you feel happy promoting such scheme? If so, shame on you.

Yes, that is the point, unfortunatelly it's not everyone who can see this way.

About referrals: That is why there are several Youtubers making videos about this kind of operation and showing their "ROI successful stories" (as the quote above said). They want referrals to maximize their earnings and decrease the "loss" they have had by not buying Bitcoins and just holding this.

This is the method on some people who do make some money on these cloud mining site which they do just put up small amounts of capital then later on they do decide to invite people.Accepting the fact that there are people who do really have the skills and luck on recruiting people.They can easily convince and also talking on videos theres lots of them and as a greedy newbie investor you would easily be convinced specially when you do see large numbers on return.This is really a method on earning just by the use of your mouth or advertising.

[Decentralizer]

So far I have recouped my initial investment, and pulled out twice more than i put in with genesis. Its not a scam but legit is not the appropriate term to describe cloud mining. As long as its sending money to my btc address I don’t see any problem. Will it last? I hope so, if not we move on to the next. But, from where I stand, Genesis is worth the money, unfortunately mining is limited to monero right now. Im waiting to buy more hashpower for eth and btc

[Immakillya]

It's a legit one. But one thing i don't like about cloudmining. They are not really that profitable. You don't even know if you get back your roll of investment with your contract you bought from them. You will just wait for nothing. There are some situations that they change the contract. That sucks. On that way, i think they are scamming their members. Also you dont even know if its going stay forever. Ive see a lot of cloudmining turned into a scam and closed. Better look for more profitable investment. Trading is better than any kinds of investment IMO. It's not that hard. You only just have to study first to make it  profitable.

[pixie85]

So far I have recouped my initial investment, and pulled out twice more than i put in with genesis. Its not a scam but legit is not the appropriate term to describe cloud mining. As long as its sending money to my btc address I don’t see any problem. Will it last? I hope so, if not we move on to the next. But, from where I stand, Genesis is worth the money, unfortunately mining is limited to monero right now. Im waiting to buy more hashpower for eth and btc

Do you see any correlation between them sending you money and allowing you to reach ROI and the current increase in Bitcoin's value?
All these companies are giving you profit if they are getting more themselves. If they are mining for themselves and have some coins stored they will always make money in a bull market.
Would they allow you to reach ROI in a bear market? No. Would you be able to make money without them in a bull market? Yes. So what do you need them for?

[bitChipper]

I think that genesis is reputable and not that huge of a risk, the only thing is you could take the money you put down to invest in a contract and just buy bitcoin or a different altcoin and possibly make even better roi on your money.

Not all cloud mining mechanism are the same, diamond for example uses a cloud mining program to add liquidity to the order books of the coin.

I did notice that the latest genesis mining zcash contracts were very profitable and sold out fast. Good luck