Do i earn money from genesis mining?

kingcolex

sr. member

Activity: 254

Merit: 1258

Quote from: ensano on January 06, 2015, 11:02:41 PM

Quote from: ?? on ??

Quote from: Jamphone on January 05, 2015, 06:44:04 PM

No, it is a scam, just like the rest of cloud mining. The only people who make money are the company. You will receive back far less than you pay them.

Cloud mining is actually a bet not a scam, take Hashnest (they're owned and ran by Bitmain) Currently .001278/gh and 57.41% of earning is fee. With .00001839 which gives you .0000104823 after fee's which means in 121 days you will roi (at current difficulty) The last two times difficulty has been decreased but we will probably see an increase soon. So if you buy into cloud mining you are betting that you will make more than current price over time, also the fee's go down when the price is up since electric is in fiat.

Not a scam but a bet.

a sucker's bet marketed as a breakthrough is the same as a scam

Well it's a pretty safe bet if you know when to sell as well, if you don't have the time to invest or don't find joy in it then definitely stick to buying BTC.

I never use time limited contracts though, only something lifetime that you can resell.

testerman

hero member

Activity: 840

Merit: 1000

today, all cloud mining services become ponzi, and scam..

kpitti

legendary

Activity: 924

Merit: 1002

Stay away of Genesis Mining. I have a contract there, it's almost 6month old and it's clear that I did not get back what I pay for. Of course something can happen, but I am too old to believe in miracles.
Generaly all cloud mining business is a risk business - for you as investor.

ensano

newbie

Activity: 56

Merit: 0

Quote from: ?? on ??

Quote from: Jamphone on January 05, 2015, 06:44:04 PM

No, it is a scam, just like the rest of cloud mining. The only people who make money are the company. You will receive back far less than you pay them.

Cloud mining is actually a bet not a scam, take Hashnest (they're owned and ran by Bitmain) Currently .001278/gh and 57.41% of earning is fee. With .00001839 which gives you .0000104823 after fee's which means in 121 days you will roi (at current difficulty) The last two times difficulty has been decreased but we will probably see an increase soon. So if you buy into cloud mining you are betting that you will make more than current price over time, also the fee's go down when the price is up since electric is in fiat.

Not a scam but a bet.

a sucker's bet marketed as a breakthrough is the same as a scam

Jamphone

full member

Activity: 125

Merit: 100

No, it is a scam, just like the rest of cloud mining. The only people who make money are the company. You will receive back far less than you pay them.

Xete

newbie

Activity: 2

Merit: 0

Hello i wonder if i can earn money from genesis mining??? Cheesy

Topic: Do i earn money from genesis mining? (Read 2241 times)