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Author Topic: Whats the catch behind this mining contract?  (Read 55 times)
Captimiz
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December 16, 2017, 09:11:09 PM
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https://www.cryptocompare.com/mining/genesis-mining/bitcoin-platinum-mining-contract-lifetime-medium/

This seems almost too good to be true, 600% guaranteed profit, who wouldn't want that?

So what's the catch, no factoring in difficulty or something?

How much actual profit could this contract get me.

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December 16, 2017, 11:17:01 PM
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This seems almost too good to be true, 600% guaranteed profit, who wouldn't want that?

This is very strange, offering such high returns and in such a short time becomes very strange

So what's the catch, no factoring in difficulty or something?


maybe it is some flaw and they are not offering such a plan because it is not possible, even if the bitcoin price has gone up a lot, they are saying that it will give a 600% return how could they offer that return? it is not possible unless they are preparing to steal people's coins

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December 16, 2017, 11:29:27 PM
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This seems almost too good to be true, 600% guaranteed profit, who wouldn't want that?

This is very strange, offering such high returns and in such a short time becomes very strange

So what's the catch, no factoring in difficulty or something?


maybe it is some flaw and they are not offering such a plan because it is not possible, even if the bitcoin price has gone up a lot, they are saying that it will give a 600% return how could they offer that return? it is not possible unless they are preparing to steal people's coins


To be exact, they are offering 600% within a year, but that is still significantly larger than the highest interest loan. There has to be a reason that everyone has not gone for this.

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December 17, 2017, 05:56:15 AM
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https://www.cryptocompare.com/mining/genesis-mining/bitcoin-platinum-mining-contract-lifetime-medium/

This seems almost too good to be true, 600% guaranteed profit, who wouldn't want that?
To be exact, they are offering 600% within a year, but that is still significantly larger than the highest interest loan. There has to be a reason that everyone has not gone for this.

If something is too good to be true, it probably is. In other words, the more unbelievable the rate of return, the more likely it is a scam.

People from this forum know that. That’s why they don’t go for it. There have been lots of cases like this one, where they run for some time, pay some people to give the outward appearance of solvency, and they disappear after a while with all the money.

You might wanna read this thread:

https://bitcointalk.org/index.php?topic=1185909.680

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December 17, 2017, 12:33:15 PM
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It is impossible you can get that profit. Although it is enticing try to use common sense. A company who offers that such amount of ROI is next to impossible it is an obvious scam.
CyberKuro
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December 17, 2017, 02:09:44 PM
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It is impossible you can get that profit. Although it is enticing try to use common sense. A company who offers that such amount of ROI is next to impossible it is an obvious scam.

It won't be 600% a year obviously, but genesis mining isn't a scam.
Not sure, where it comes from as I can't find "The Genesis Platinum Mining Contract 5000 GH" on their website and currently only monero mining contract which available.
And look at this:
Genesis has NOT sold BC mining for some time. Last time they did open up BC mining you paid now and waited months b4 it started
It's a true story as the last time they sold bitcoin mining contract but contract holders can't mine at that time instead of waiting for months.
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December 17, 2017, 02:35:53 PM
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It is impossible you can get that profit. Although it is enticing try to use common sense. A company who offers that such amount of ROI is next to impossible it is an obvious scam.

It won't be 600% a year obviously, but genesis mining isn't a scam.
Not sure, where it comes from as I can't find "The Genesis Platinum Mining Contract 5000 GH" on their website and currently only monero mining contract which available.
And look at this:
Genesis has NOT sold BC mining for some time. Last time they did open up BC mining you paid now and waited months b4 it started
It's a true story as the last time they sold bitcoin mining contract but contract holders can't mine at that time instead of waiting for months.

Can genesis mining offer that high? I don't think any mining rentals can offer a 600% profit in just a week or so. The website says a 1000% ROI (not the genesis) for a week. I don't think its legitimate based on the offer they have.
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