Genesis-Mining Review

[iluvbitcoins]

At the current state, the bitcoin mining contracts would pay off in around 6-7 months, depending on the amount

Do you guys think it's a good idea to invest?

I was calculating the profits with the new Antminer S9 - electricity costs, and I would break even in around 6 monhts

However, here I can invest a lot less aka. for example 200$

I don't need to buy a whole antminer for 1250$

[mrcash02]

At the current state, the bitcoin mining contracts would pay off in around 6-7 months, depending on the amount

Do you guys think it's a good idea to invest?

I was calculating the profits with the new Antminer S9 - electricity costs, and I would break even in around 6 monhts

However, here I can invest a lot less aka. for example 200$

I don't need to buy a whole antminer for 1250$

For me makes no sense. If you hold your $200 in BTCs you will have more profit after 6-7 months than investing on cloud mining.

The contract just worth if you can mine more BTCs than you invested, and it looks impossible for this kind of investment...

[iluvbitcoins]

At the current state, the bitcoin mining contracts would pay off in around 6-7 months, depending on the amount

Do you guys think it's a good idea to invest?

I was calculating the profits with the new Antminer S9 - electricity costs, and I would break even in around 6 monhts

However, here I can invest a lot less aka. for example 200$

I don't need to buy a whole antminer for 1250$

For me makes no sense. If you hold your $200 in BTCs you will have more profit after 6-7 months than investing on cloud mining.

The contract just worth if you can mine more BTCs than you invested, and it looks impossible for this kind of investment...

How come?

How will I have less profit if I will have more bitcoins in 7 months
It implies bitcoin price going down and me selling, which is unlikely  

I mostly hodl

[mrcash02]

At the current state, the bitcoin mining contracts would pay off in around 6-7 months, depending on the amount

Do you guys think it's a good idea to invest?

I was calculating the profits with the new Antminer S9 - electricity costs, and I would break even in around 6 monhts

However, here I can invest a lot less aka. for example 200$

I don't need to buy a whole antminer for 1250$

For me makes no sense. If you hold your $200 in BTCs you will have more profit after 6-7 months than investing on cloud mining.

The contract just worth if you can mine more BTCs than you invested, and it looks impossible for this kind of investment...

How come?

How will I have less profit if I will have more bitcoins in 7 months
It implies bitcoin price going down and me selling, which is unlikely  

I mostly hodl

If you invest 1 BTC in cloud mining, do you guarantee you will mine more than 1 BTC after 7 months?

I don't think so, if it was possible, I would be investing on it too.

[crazyivan]

Genesis Mining is a very sophisticated scam.

It s not a scam in a classic way where they will run away with your money, no, they re 100% legit and they will provide everything they state.

The only problem is one cannot make money, their products re simply that bad. How is it possible to stay in the market when one sells this bad product? Well, they ve grown so much on noob money they actually do not need cloud service at all anymore.

By investing here all u do is provide them an interest free loan for them to expand their farms and that s all.

[Slow death]

Genesis Mining is a very sophisticated scam.

It s not a scam in a classic way where they will run away with your money, no, they re 100% legit and they will provide everything they state.

The only problem is one cannot make money, their products re simply that bad. How is it possible to stay in the market when one sells this bad product? Well, they ve grown so much on noob money they actually do not need cloud service at all anymore.

By investing here all u do is provide them an interest free loan for them to expand their farms and that s all.

You're right. Maybe this little article can help your point even more

4. Is It Profitable to Mine With Genesis Mining?


The question is will investors make profit and get a return on their investments by buying these contracts? And if so, how much profit will investors make?

Genesis Mining is not willing to answer these simple 2 questions above, the company claims that it is difficult to clearly state how much profit the investors will be getting as the value for bitcoins and ethereum are constantly changing – a lot of volatility still exists. Instead they advise investors to do their own profitability calculations using a 3rd party website suggested by them - www.coinwarz.com.

This approach poses a serious difficulty for a potential investor because if you invest with them and you don’t make any profit, or lose money, then you cannot hold Genesis Mining  accountable as they would have not have promised you any profits. They would have just offered to mine bitcoins or Ethereum on your behalf.

Indeed, a few of my colleagues who invested with Genesis Mining last year (August 2015) have been making profits of a measly 0.5% per month. According to their calculations, they had expected to easily profit at least 5% per month. At a growth rate of 0.6% per month, it will take them at least 7 years to recover their initial deposits. It is quite possible that they will lose a big chunk of their investment as their contracts will be cancelled once they become too unprofitable.

[miakama]

Genesis Mining is a very sophisticated scam.

It s not a scam in a classic way where they will run away with your money, no, they re 100% legit and they will provide everything they state.

The only problem is one cannot make money, their products re simply that bad. How is it possible to stay in the market when one sells this bad product? Well, they ve grown so much on noob money they actually do not need cloud service at all anymore.

By investing here all u do is provide them an interest free loan for them to expand their farms and that s all.

The risk is in the mining difficulty rise and the price of the coins.

[cdc285]

There sites been down for 4 days now!!

[Zeta0S]

There sites been down for 4 days now!!

The website has up and running for the past 4 days for me.

down for everyone or just you?
http://downforeveryoneorjustme.com/

It`s just you, site is working perfectly

[Glucose]

There sites been down for 4 days now!!

The website has up and running for the past 4 days for me.

down for everyone or just you?
http://downforeveryoneorjustme.com/

It`s just you, site is working perfectly

It doesn't change anything if their website is up or not. Genesis mining is a scam and isn't profitable at all.

(Prove me wrong if you can. You just can't).

[youdamushi]

Genesis Mining is a very sophisticated scam.

It s not a scam in a classic way where they will run away with your money, no, they re 100% legit and they will provide everything they state.

The only problem is one cannot make money, their products re simply that bad. How is it possible to stay in the market when one sells this bad product? Well, they ve grown so much on noob money they actually do not need cloud service at all anymore.

By investing here all u do is provide them an interest free loan for them to expand their farms and that s all.

Yeah and that's if you manage to break even, which is far from being sure...

But to be fair, I'm not sure it's specific to Genesis.
For me cloud mining is a complete nonsense in itself. Mining is barely profitable in itself so how could cloud mining be profitable??

[allcloudminers]

Genesis Mining review, promo code with 3 % discount.

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[AndersonFG]

Genesis = Scam

[simon149]

So far I am pretty pleased with Genesis.
Not sure why you are calling it a scam.
Yes, it is still debatable whether you will make a profit on it (increasing difficulty etc.) but the business itself seems legit.
So is cloud mining a scam, maybe? sometimes?

But genesis mining is one of the only cloud mining companies that offers daily payouts free of charge.
Therefore, all your payouts are gathered in your own private wallets. All things seem to be in place, just the question whether you will make profit of it remains a mystery haha.

If anyone is interested use the affiliate code SP12V8 for a 2.5 / 4 % discount at genesis mining.
https://www.genesis-mining.com/a/596368

[youdamushi]

So far I am pretty pleased with Genesis.
Not sure why you are calling it a scam.
Yes, it is still debatable whether you will make a profit on it (increasing difficulty etc.) but the business itself seems legit.
So is cloud mining a scam, maybe? sometimes?

But genesis mining is one of the only cloud mining companies that offers daily payouts free of charge.
Therefore, all your payouts are gathered in your own private wallets. All things seem to be in place, just the question whether you will make profit of it remains a mystery haha.

If anyone is interested use the affiliate code SP12V8 for a 2.5 / 4 % discount at genesis mining.
https://www.genesis-mining.com/a/596368

We have nothing against genesis specifically.

Genesis is legit. They pay, no problem with that. The problem is with the principle itself.
Cloud mining means you pay, nothing engages the company, they do whatever they want, take whatever they want and you can do nothing about it.

[Zeta0S]

So far I am pretty pleased with Genesis.
Not sure why you are calling it a scam.
Yes, it is still debatable whether you will make a profit on it (increasing difficulty etc.) but the business itself seems legit.
So is cloud mining a scam, maybe? sometimes?

But genesis mining is one of the only cloud mining companies that offers daily payouts free of charge.
Therefore, all your payouts are gathered in your own private wallets. All things seem to be in place, just the question whether you will make profit of it remains a mystery haha.

If anyone is interested use the affiliate code SP12V8 for a 2.5 / 4 % discount at genesis mining.
https://www.genesis-mining.com/a/596368

We have nothing against genesis specifically.

Genesis is legit. They pay, no problem with that. The problem is with the principle itself.
Cloud mining means you pay, nothing engages the company, they do whatever they want, take whatever they want and you can do nothing about it.

Would Bitmain not be in the same principle? There miners also do not ROI..

Genesis Mining actively supports Bitcoin on a way not seen before. Also I did well whit Ethereum mining.

[youdamushi]

So far I am pretty pleased with Genesis.
Not sure why you are calling it a scam.
Yes, it is still debatable whether you will make a profit on it (increasing difficulty etc.) but the business itself seems legit.
So is cloud mining a scam, maybe? sometimes?

But genesis mining is one of the only cloud mining companies that offers daily payouts free of charge.
Therefore, all your payouts are gathered in your own private wallets. All things seem to be in place, just the question whether you will make profit of it remains a mystery haha.

If anyone is interested use the affiliate code SP12V8 for a 2.5 / 4 % discount at genesis mining.
https://www.genesis-mining.com/a/596368

We have nothing against genesis specifically.

Genesis is legit. They pay, no problem with that. The problem is with the principle itself.
Cloud mining means you pay, nothing engages the company, they do whatever they want, take whatever they want and you can do nothing about it.

Would Bitmain not be in the same principle? There miners also do not ROI..

Genesis Mining actively supports Bitcoin on a way not seen before. Also I did well whit Ethereum mining.

How? How do they support btc?

And yeah Bitmain is the same, they're all shit.
It's great for you if you did well, but it's actually a scam 99% of the time.
Simply because you take the risk, the company takes the profit and MAYBE gives you something.

[BitHodler]

So far I am pretty pleased with Genesis.
Not sure why you are calling it a scam.
Yes, it is still debatable whether you will make a profit on it (increasing difficulty etc.) but the business itself seems legit.
So is cloud mining a scam, maybe? sometimes?

But genesis mining is one of the only cloud mining companies that offers daily payouts free of charge.
Therefore, all your payouts are gathered in your own private wallets. All things seem to be in place, just the question whether you will make profit of it remains a mystery haha.

If anyone is interested use the affiliate code SP12V8 for a 2.5 / 4 % discount at genesis mining.
https://www.genesis-mining.com/a/596368

We have nothing against genesis specifically.

Genesis is legit. They pay, no problem with that. The problem is with the principle itself.
Cloud mining means you pay, nothing engages the company, they do whatever they want, take whatever they want and you can do nothing about it.

Would Bitmain not be in the same principle? There miners also do not ROI..

Genesis Mining actively supports Bitcoin on a way not seen before. Also I did well whit Ethereum mining.

How? How do they support btc?

And yeah Bitmain is the same, they're all shit.
It's great for you if you did well, but it's actually a scam 99% of the time.
Simply because you take the risk, the company takes the profit and MAYBE gives you something.

These cloud mining sites make big money. Especially when you consider that due to the block halving last year, they only have to pay out half of what they used to do.

It's a well calculated business plan that is attracting money from people still having the idea that cloud mining is cool and rewarding, while in reality, it's not.

But hey, no matter how many times people get told to avoid cloud mining in general, they still don't take any of your advice to heart. They will only learn the hard way (e.g. that it cost them money as they never roi).

[Zeta0S]

So far I am pretty pleased with Genesis.
Not sure why you are calling it a scam.
Yes, it is still debatable whether you will make a profit on it (increasing difficulty etc.) but the business itself seems legit.
So is cloud mining a scam, maybe? sometimes?

But genesis mining is one of the only cloud mining companies that offers daily payouts free of charge.
Therefore, all your payouts are gathered in your own private wallets. All things seem to be in place, just the question whether you will make profit of it remains a mystery haha.

If anyone is interested use the affiliate code SP12V8 for a 2.5 / 4 % discount at genesis mining.
https://www.genesis-mining.com/a/596368

We have nothing against genesis specifically.

Genesis is legit. They pay, no problem with that. The problem is with the principle itself.
Cloud mining means you pay, nothing engages the company, they do whatever they want, take whatever they want and you can do nothing about it.

Would Bitmain not be in the same principle? There miners also do not ROI..

Genesis Mining actively supports Bitcoin on a way not seen before. Also I did well whit Ethereum mining.

How? How do they support btc?

And yeah Bitmain is the same, they're all shit.
It's great for you if you did well, but it's actually a scam 99% of the time.
Simply because you take the risk, the company takes the profit and MAYBE gives you something.

Hi,

We can all use the mining calculator, we all know 9 of the 10 time the difficulties gets up. GM is not a scam in any way, prices are clear, and yes sometimes they are higher, but see it this way, mining at home, when power cost near 20 euro cent KWH, and shipping in a miner is really expensive, GM could be the better option.

Supporting bitcoin has been done by huge Anti http://Western union campaign[/img] and funny [url=https://s-media-cache-ak0.pinimg.com/736x/4b/4b/17/4b4b17b1797b0d20a655d943dbfaa6b0.jpg]http://billboards

And Yes I know what you are gonna say, The old 2014 Litecoin contracts right?  I agree, they where still profitable in my opinion, I did not use the conversion option(one mhs for 10ghs?) and mined scrypt for months after that. I think the ending of scrypt had something to do whit MAT not delivering the ordered scrypt Miners, but that`s only what I think and I could be ferry wrong there.

Like I mention, Ethereum was head on a Success! And I Thank GM for that    Now I hope Zcash will fight back

[mu77aL]

hey guys. im really using Gm a long time ago.

Im very glad with the Service but i think i will never ROI.
= THat means i will never get the btc back i invested.

Of course the service is still running, also for me, but they also took some time some Th/s cause of the Price and now the PRice was even over 1000 and the Power comes not back... So im really afraid of this cause lots of things are not seeable on GM.

regards