Topic: genesis-mining - Ethereum’s Ether Cloud Mining (Read 1953 times)

This is so good to read. Many people don't know how it works. Companies are there to profit themself, and not let you profit.
With cloud mining, especially with scam artist like genesis mining, you won't earn any money.

In fact I am positive you are donating for their new rolex/ferrari.

i really don't understand why would anyone go for GPU cloud mining!

first of all, no cloud mining will ever profit you!
the system is designed to profit the company providing the hardware & the infrastructure/platform.
simply because no one will ever work for Your profit!
always remember everyone works for their own profit and continue from there!
(cryptos is an industry not a charity!)

for ASIC cryptos; i get it, you want in.
you don't have access to specialized hardware,
you don't have the resources/patience/knowhow to run that hardware in your home/garage/attic/office/etc.
you approach cloud mining platforms just to be in.
remember what you pay for is just to be in!
you will not roi & you wont profit.
(been there done that!)

for GPU cryptos seriously why would you even consider cloud mining?
do you know how to buy hardware & assemble a pc?
do you know how to install/run windows?
do you know how to download/install dirvers?
do you know how to double click?
No?! ok! spend 50-60 hours of you precious time in this forum you'll learn all of that.
then spend as much as you wanna spend on cloud mining, and have your miner working right next to you!!!
once its not making profit anymore, sell it for parts or as a second hand pc in any local hardware market!
even if you start your research today and start mining 2 weeks from now you will roi & profit mining eth!
(if you have fairly priced/cheap electricity & fairly priced hardware.)

ALWAYS DO THE MATH FIRST THO

even if you don't know how to speculate & do actual math, don't worry much, many of the ppl cant; including me!
just gather as many numbers and as much data, put them in front of you & stare at them.
try & work out the patterns, study, learn, ask around & get a feel for that particular market.
its better than nothing!

there's an incredible amount of potential to cryptos!
do actual work and i promise you will profit!!!

Honestly investing in cloud mining is risky because of many people are scammed by many cloud mining in bitcoin but i don't know about ethereum mining.. well you can try with your self just risk some of your coins and wait for month result how much you made profit and how many days before you reach the roi..

I do not understand your reply, it in no way answered the question.  If you were just going to say "Do what you want"  then why answer at all?  I have not tried the site, but it has been around for a little bit of time.  If the initial investment was smaller I would jump in just to find out.

Genesis mining has been great for me, i just see the coins coming in
use this special code for a discount
jw0sNI

Yes because of recent increase difficulty in bitcoin mining ..hope for better solution ..and may genesiis will decrease the maintenance fee

bought for the cheap ETH price, so was lucky, maybe with a payback under 100 days now, but genesis is only the hashrate provider, the market speculant are you :-)
also X11 is getting better, meanwhile payback time climbed to about 340 days out of 365 ;-)
think BTC-mining at genesis was and is a bad idea

Right now its not worth to buy Ethereum Cloud Mining from Genesis Mining as cost is quite high
 
1 MH/s cost USD 44 for one year

if you see this ether calculator

http://badmofo.github.io/ethereum-mining-calculator/

Month    0.991780    $5.14

you will generate this amount ..

so you need 9 month to get ROI ..so which is not worth to buy it right now as per the price rate ..

Once it lower you can decide ..

Why you said this ..as there are hundred of people getting profit ..do you have any thing that make you come to this judgment ?? if so can you share why

I don't understand honestly why some one even consider Genesis Mining.
They business model is not set to be profitable for both investors and them. The only profitting party is Genesis Mining. And they make sure they profit a lot too..

i ask because its completely new ..and don't have idea of it .. so getting suggest from who uses it ..will be best

invest only if you want also its not good to take advice from others on this type of question its personal for all

We can see form today genesis mining starting Ethereum’s Ether Cloud Mining ..but there still some doubt ..

How we can calculate the mining profit and roi ..Also it has only 1 year contract ..so do we get profit out of it or we will still stick with script and SHA mining ..

Hope for clarification