I've taken a yearly, Scrypt Mining 2 MH/s contract, at $158 on the 21/8/2014 at Genesis-Mining. The results have always been quite disappointing and I wrote to them about it in September. They made a vague answer, saying that things would change soon. But they didn't, and I never heard from them again.
Almost 3 months after the beginning of my contract, it has generated a mere $17. These days, my revenues are about $1 a week (!). No need to be a math genius to understand that there is no way this contract will ever be profitable. See by yourself:
So here is my review:
The good
. Genesis is a legitimate company, not a scam, and they do mine.
. Interface is great and allows you to mine different coins (which is cool), and to get automatic daily payouts directly to your wallets (even cooler).
The bad
. This maybe the most silent company I've ever seen. I don't think I've received a single email form them, apart from their (dull) answer to my request. Especially, the only place I've heard about "Project X" is here, not from them. No doubt they are busy, but I would advise them to take better care of their existing customers before trying to get new ones.
The ugly
. Absolutely not profitable. There is no way this service can get any close to ROI (except, of course, if one of the coins you mine comes to skyrocket one day, but then it would have been the same, had you just bought the coins when their price was cheap).
So, if you are, like me, just trying to figure out what you can expect from cloud mining, stay away from Genesis. Don't listen to people with huge Genesis signatures at the bottom of their posts, as they are just trying to get back some ROI with affiliation links. Genesis-Mining is not profitable, period.
Getting hot!
