Topic: did you try genesis mining? - page 2. (Read 249 times)

im using it, i can say its legit but dont invest on there for now, but the choice is still on yours. Of course i already got profit but most of my profit its from referal purchase that can increase my power. If you want try to invest then do it at your own risk.

This topic is on wrong section , please move to right one , thank you. 

Cloud mining investing is a literal scam 99% of the time. Genesis is one of the few “reputable” companies out there, but investing in cloud mining in itself is still a scam (imo). If you were able to turn X value in fiat/bitcoin/altcoin/whatever into a value higher than X reliably over a year or so, then why do the companies even need you and your tiny investment? 95% of the ‘success' stories I hear about cloud mining are stories where the profit was almost exclusively because of the increase of price of bitcoin as opposed to mining profitability, aka, “I made 75 bucks in 1.5 years off my $50 investment, but only because bitcoins doubled in price over that year.” In other words, they would have made more money just buying bitcoins upfront with the initial investment.

You can always go onto their site and use calculators to figure out how long it will take to get a return on your investment….I checked it out and it looks like the expected return time is around 1.5 years for their cheapest mining contract (which is 2 years). Sounds decent, right? Wrong! That estimate is for the current difficulty, which always increases significantly. 1 year for now, that contract you purchased isn't going to be getting you what an estimate today says it will.

i search about this company and i think they are legit and i'm planning to invest on this company, can you please give me some reviews to those who tried this? or what do you think about this company?