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Topic: Genesis Mining Bitcoin Case Study - page 2. (Read 685 times)

sr. member
Activity: 1274
Merit: 263
September 22, 2017, 10:10:36 AM
#4
-snip-

Well that was already the situation way back then. I'm not even sure how Genesis keeps their services up in this environment.

it is very simple to do that since they are a reputable company,
i believe if someone whose having a contract in their genesis account should know about a hidden fees.
when you are expecting your earning you will get report about how much it will be and what is the fees/expenses that you need to pay
(usually they will automatically deduct your earning without confirmation)
that is the 'earning' for their site and to pay the staff from that money.
you should also heard about an account that no longer profitable and force closed by them without your confirmation,right ?
it's not your account no longer profitable,but instead they are asking you to deposit more money so they can buy a new hardware from it.
the difficulty keep increasing by day and they need a newly reborn tech to fight with it aka replace the old one.

so,it's no longer profitable(in my view) because you will get less and less.
until your account contracts closed by them forcefully.
legendary
Activity: 1848
Merit: 1009
Next-Gen Trade Racing Metaverse
September 22, 2017, 09:44:07 AM
#3
I am sorry for you to say that you will never ROI back with them unless you are one of them trying to grab attention and lure newbies in your website. It is because of the rising difficulty of Bitcoin mining which they cannot afford to pay you the same amount everyday. Even altcoin mining difficulty is going up every 2 weeks or 1 month now and they can't pay you there also the same amount every day as your first days. Next there is electricity fee and maintenance fee which they will remove from your daily payment. I think these are enough reasons why investing in Genesis Mining is and was not worth even before.

Well that was already the situation way back then. I'm not even sure how Genesis keeps their services up in this environment.
legendary
Activity: 3318
Merit: 1247
Bitcoin Casino Est. 2013
September 22, 2017, 09:06:40 AM
#2
I am sorry for you to say that you will never ROI back with them unless you are one of them trying to grab attention and lure newbies in your website. It is because of the rising difficulty of Bitcoin mining which they cannot afford to pay you the same amount everyday. Even altcoin mining difficulty is going up every 2 weeks or 1 month now and they can't pay you there also the same amount every day as your first days. Next there is electricity fee and maintenance fee which they will remove from your daily payment. I think these are enough reasons why investing in Genesis Mining is and was not worth even before.
jr. member
Activity: 52
Merit: 10
September 21, 2017, 09:48:22 PM
#1
Hey everyone, first real post here! I wanted to give a heads up about a case study I've been doing for a month now. its a 50TH Bitcoin contract with Genesis Mining and the objective is to see if I will ever reach ROI on it. If you want to check it out the link below will take you to the one month review. Let me know if you have any questions!
https://www.youtube.com/watch?v=33-ZeujnJ1g
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