Genesis-Mining Review - page 9. | Bitcointalksearch.org

BitHodler

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Quote from: youdamushi on January 25, 2017, 03:23:15 PM

Quote from: Zeta0S on January 25, 2017, 11:41:45 AM

Quote from: youdamushi on January 25, 2017, 09:48:19 AM

Quote from: simon149 on January 24, 2017, 12:35:07 PM

So far I am pretty pleased with Genesis.
Not sure why you are calling it a scam.
Yes, it is still debatable whether you will make a profit on it (increasing difficulty etc.) but the business itself seems legit.
So is cloud mining a scam, maybe? sometimes?

But genesis mining is one of the only cloud mining companies that offers daily payouts free of charge.
Therefore, all your payouts are gathered in your own private wallets. All things seem to be in place, just the question whether you will make profit of it remains a mystery haha.

If anyone is interested use the affiliate code SP12V8 for a 2.5 / 4 % discount at genesis mining.
https://www.genesis-mining.com/a/596368

We have nothing against genesis specifically.

Genesis is legit. They pay, no problem with that. The problem is with the principle itself.
Cloud mining means you pay, nothing engages the company, they do whatever they want, take whatever they want and you can do nothing about it.

Would Bitmain not be in the same principle? There miners also do not ROI..

Genesis Mining actively supports Bitcoin on a way not seen before. Also I did well whit Ethereum mining.

How? How do they support btc?

And yeah Bitmain is the same, they're all shit.
It's great for you if you did well, but it's actually a scam 99% of the time.
Simply because you take the risk, the company takes the profit and MAYBE gives you something.

These cloud mining sites make big money. Especially when you consider that due to the block halving last year, they only have to pay out half of what they used to do.

It's a well calculated business plan that is attracting money from people still having the idea that cloud mining is cool and rewarding, while in reality, it's not.

But hey, no matter how many times people get told to avoid cloud mining in general, they still don't take any of your advice to heart. They will only learn the hard way (e.g. that it cost them money as they never roi).

youdamushi

sr. member

Activity: 392

Merit: 250

Quote from: Zeta0S on January 25, 2017, 11:41:45 AM

Quote from: youdamushi on January 25, 2017, 09:48:19 AM

Quote from: simon149 on January 24, 2017, 12:35:07 PM

So far I am pretty pleased with Genesis.
Not sure why you are calling it a scam.
Yes, it is still debatable whether you will make a profit on it (increasing difficulty etc.) but the business itself seems legit.
So is cloud mining a scam, maybe? sometimes?

But genesis mining is one of the only cloud mining companies that offers daily payouts free of charge.
Therefore, all your payouts are gathered in your own private wallets. All things seem to be in place, just the question whether you will make profit of it remains a mystery haha.

If anyone is interested use the affiliate code SP12V8 for a 2.5 / 4 % discount at genesis mining.
https://www.genesis-mining.com/a/596368

We have nothing against genesis specifically.

Genesis is legit. They pay, no problem with that. The problem is with the principle itself.
Cloud mining means you pay, nothing engages the company, they do whatever they want, take whatever they want and you can do nothing about it.

Would Bitmain not be in the same principle? There miners also do not ROI..

Genesis Mining actively supports Bitcoin on a way not seen before. Also I did well whit Ethereum mining.

How? How do they support btc?

And yeah Bitmain is the same, they're all shit.
It's great for you if you did well, but it's actually a scam 99% of the time.
Simply because you take the risk, the company takes the profit and MAYBE gives you something.

Zeta0S

legendary

Activity: 1890

Merit: 1031

Quote from: youdamushi on January 25, 2017, 09:48:19 AM

Quote from: simon149 on January 24, 2017, 12:35:07 PM

So far I am pretty pleased with Genesis.
Not sure why you are calling it a scam.
Yes, it is still debatable whether you will make a profit on it (increasing difficulty etc.) but the business itself seems legit.
So is cloud mining a scam, maybe? sometimes?

But genesis mining is one of the only cloud mining companies that offers daily payouts free of charge.
Therefore, all your payouts are gathered in your own private wallets. All things seem to be in place, just the question whether you will make profit of it remains a mystery haha.

If anyone is interested use the affiliate code SP12V8 for a 2.5 / 4 % discount at genesis mining.
https://www.genesis-mining.com/a/596368

We have nothing against genesis specifically.

Genesis is legit. They pay, no problem with that. The problem is with the principle itself.
Cloud mining means you pay, nothing engages the company, they do whatever they want, take whatever they want and you can do nothing about it.

Would Bitmain not be in the same principle? There miners also do not ROI..

Genesis Mining actively supports Bitcoin on a way not seen before. Also I did well whit Ethereum mining.

youdamushi

sr. member

Activity: 392

Merit: 250

Quote from: simon149 on January 24, 2017, 12:35:07 PM

So far I am pretty pleased with Genesis.
Not sure why you are calling it a scam.
Yes, it is still debatable whether you will make a profit on it (increasing difficulty etc.) but the business itself seems legit.
So is cloud mining a scam, maybe? sometimes?

But genesis mining is one of the only cloud mining companies that offers daily payouts free of charge.
Therefore, all your payouts are gathered in your own private wallets. All things seem to be in place, just the question whether you will make profit of it remains a mystery haha.

If anyone is interested use the affiliate code SP12V8 for a 2.5 / 4 % discount at genesis mining.
https://www.genesis-mining.com/a/596368

We have nothing against genesis specifically.

Genesis is legit. They pay, no problem with that. The problem is with the principle itself.
Cloud mining means you pay, nothing engages the company, they do whatever they want, take whatever they want and you can do nothing about it.

simon149

member

Activity: 113

Merit: 10

So far I am pretty pleased with Genesis.
Not sure why you are calling it a scam.
Yes, it is still debatable whether you will make a profit on it (increasing difficulty etc.) but the business itself seems legit.
So is cloud mining a scam, maybe? sometimes?

But genesis mining is one of the only cloud mining companies that offers daily payouts free of charge.
Therefore, all your payouts are gathered in your own private wallets. All things seem to be in place, just the question whether you will make profit of it remains a mystery haha.

If anyone is interested use the affiliate code SP12V8 for a 2.5 / 4 % discount at genesis mining.
https://www.genesis-mining.com/a/596368

AndersonFG

sr. member

Activity: 379

Merit: 253

Genesis = Scam

allcloudminers

newbie

Activity: 34

Merit: 0

Genesis Mining review, promo code with 3 % discount.

We have Genesis mining calculator and payout charts since 2014. We have invested in all cloud mining companies and we have presented reviews and payout calculation from all cloud mining companies. We also have reviews of Hashflare, ViaBTC, Hashnest, Hashing24, Eobot and many more cloud mining companies.

We have cloud mining discounts, ROI calculations, scam list and payout charts from all contracts. Genesis mining Ethereun cloud mining, Zcash cloud mining, SHA 256 cloud mining.

Genesis Mining reviews with Genesis mining promo code for 3 % discount. Visit:

http://www.allcloudminers.com/genesis-mining-review/

youdamushi

sr. member

Activity: 392

Merit: 250

Quote from: crazyivan on December 27, 2016, 01:26:38 AM

Genesis Mining is a very sophisticated scam.

It s not a scam in a classic way where they will run away with your money, no, they re 100% legit and they will provide everything they state.

The only problem is one cannot make money, their products re simply that bad. How is it possible to stay in the market when one sells this bad product? Well, they ve grown so much on noob money they actually do not need cloud service at all anymore.

By investing here all u do is provide them an interest free loan for them to expand their farms and that s all.

Yeah and that's if you manage to break even, which is far from being sure...

But to be fair, I'm not sure it's specific to Genesis.
For me cloud mining is a complete nonsense in itself. Mining is barely profitable in itself so how could cloud mining be profitable??

Glucose

hero member

Activity: 861

Merit: 1001

Quote from: Zeta0S on January 03, 2017, 10:54:13 AM

Quote from: ?? on ??

Quote from: cdc285 on January 01, 2017, 10:37:06 PM

There sites been down for 4 days now!! Shocked

The website has up and running for the past 4 days for me.

down for everyone or just you?
http://downforeveryoneorjustme.com/

It`s just you, site is working perfectly

It doesn't change anything if their website is up or not. Genesis mining is a scam and isn't profitable at all.

(Prove me wrong if you can. You just can't).

Zeta0S

legendary

Activity: 1890

Merit: 1031

Quote from: ?? on ??

Quote from: cdc285 on January 01, 2017, 10:37:06 PM

There sites been down for 4 days now!! Shocked

The website has up and running for the past 4 days for me.

down for everyone or just you?
http://downforeveryoneorjustme.com/

It`s just you, site is working perfectly

cdc285

newbie

Activity: 12

Merit: 0

There sites been down for 4 days now!! Shocked

miakama

newbie

Activity: 69

Merit: 0

Quote from: crazyivan on December 27, 2016, 01:26:38 AM

Genesis Mining is a very sophisticated scam.

It s not a scam in a classic way where they will run away with your money, no, they re 100% legit and they will provide everything they state.

The only problem is one cannot make money, their products re simply that bad. How is it possible to stay in the market when one sells this bad product? Well, they ve grown so much on noob money they actually do not need cloud service at all anymore.

By investing here all u do is provide them an interest free loan for them to expand their farms and that s all.

The risk is in the mining difficulty rise and the price of the coins.

Slow death

legendary

Activity: 3234

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Leading Crypto Sports Betting & Casino Platform

Quote from: crazyivan on December 27, 2016, 01:26:38 AM

Genesis Mining is a very sophisticated scam.

It s not a scam in a classic way where they will run away with your money, no, they re 100% legit and they will provide everything they state.

The only problem is one cannot make money, their products re simply that bad. How is it possible to stay in the market when one sells this bad product? Well, they ve grown so much on noob money they actually do not need cloud service at all anymore.

By investing here all u do is provide them an interest free loan for them to expand their farms and that s all.

You're right. Maybe this little article can help your point even more

Quote from: http://kipicommunity.org/genesis-mining-review-is-it-profitable-to-mine-with-genesis-mining/

4. Is It Profitable to Mine With Genesis Mining?

The question is will investors make profit and get a return on their investments by buying these contracts? And if so, how much profit will investors make?

Genesis Mining is not willing to answer these simple 2 questions above, the company claims that it is difficult to clearly state how much profit the investors will be getting as the value for bitcoins and ethereum are constantly changing – a lot of volatility still exists. Instead they advise investors to do their own profitability calculations using a 3rd party website suggested by them - www.coinwarz.com.

This approach poses a serious difficulty for a potential investor because if you invest with them and you don’t make any profit, or lose money, then you cannot hold Genesis Mining accountable as they would have not have promised you any profits. They would have just offered to mine bitcoins or Ethereum on your behalf.

Indeed, a few of my colleagues who invested with Genesis Mining last year (August 2015) have been making profits of a measly 0.5% per month. According to their calculations, they had expected to easily profit at least 5% per month. At a growth rate of 0.6% per month, it will take them at least 7 years to recover their initial deposits. It is quite possible that they will lose a big chunk of their investment as their contracts will be cancelled once they become too unprofitable.

crazyivan

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DMD Diamond Making Money 4+ years! Join us!

Genesis Mining is a very sophisticated scam.

It s not a scam in a classic way where they will run away with your money, no, they re 100% legit and they will provide everything they state.

The only problem is one cannot make money, their products re simply that bad. How is it possible to stay in the market when one sells this bad product? Well, they ve grown so much on noob money they actually do not need cloud service at all anymore.

By investing here all u do is provide them an interest free loan for them to expand their farms and that s all.

mrcash02

hero member

Activity: 1190

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Quote from: iluvbitcoins on December 25, 2016, 06:32:37 PM

Quote from: mrcash02 on December 25, 2016, 05:26:52 PM

Quote from: iluvbitcoins on December 25, 2016, 05:07:05 PM

At the current state, the bitcoin mining contracts would pay off in around 6-7 months, depending on the amount

Do you guys think it's a good idea to invest?

I was calculating the profits with the new Antminer S9 - electricity costs, and I would break even in around 6 monhts

However, here I can invest a lot less aka. for example 200$

I don't need to buy a whole antminer for 1250$

For me makes no sense. If you hold your $200 in BTCs you will have more profit after 6-7 months than investing on cloud mining.

The contract just worth if you can mine more BTCs than you invested, and it looks impossible for this kind of investment...

How come?

How will I have less profit if I will have more bitcoins in 7 months
It implies bitcoin price going down and me selling, which is unlikely Cheesy

I mostly hodl Cheesy

If you invest 1 BTC in cloud mining, do you guarantee you will mine more than 1 BTC after 7 months?

I don't think so, if it was possible, I would be investing on it too.

iluvbitcoins

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Freedom&Honor

Quote from: mrcash02 on December 25, 2016, 05:26:52 PM

Quote from: iluvbitcoins on December 25, 2016, 05:07:05 PM

At the current state, the bitcoin mining contracts would pay off in around 6-7 months, depending on the amount

Do you guys think it's a good idea to invest?

I was calculating the profits with the new Antminer S9 - electricity costs, and I would break even in around 6 monhts

However, here I can invest a lot less aka. for example 200$

I don't need to buy a whole antminer for 1250$

For me makes no sense. If you hold your $200 in BTCs you will have more profit after 6-7 months than investing on cloud mining.

The contract just worth if you can mine more BTCs than you invested, and it looks impossible for this kind of investment...

How come?

How will I have less profit if I will have more bitcoins in 7 months
It implies bitcoin price going down and me selling, which is unlikely Cheesy

I mostly hodl Cheesy

mrcash02

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Activity: 1190

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Quote from: iluvbitcoins on December 25, 2016, 05:07:05 PM

At the current state, the bitcoin mining contracts would pay off in around 6-7 months, depending on the amount

Do you guys think it's a good idea to invest?

I was calculating the profits with the new Antminer S9 - electricity costs, and I would break even in around 6 monhts

However, here I can invest a lot less aka. for example 200$

I don't need to buy a whole antminer for 1250$

For me makes no sense. If you hold your $200 in BTCs you will have more profit after 6-7 months than investing on cloud mining.

The contract just worth if you can mine more BTCs than you invested, and it looks impossible for this kind of investment...

iluvbitcoins

legendary

Activity: 2198

Merit: 1150

Freedom&Honor

At the current state, the bitcoin mining contracts would pay off in around 6-7 months, depending on the amount

Do you guys think it's a good idea to invest?

I was calculating the profits with the new Antminer S9 - electricity costs, and I would break even in around 6 monhts

However, here I can invest a lot less aka. for example 200$

I don't need to buy a whole antminer for 1250$

Pastonia

newbie

Activity: 55

Merit: 0

Quote from: crazyivan on November 06, 2016, 01:20:50 PM

Quote from: Visbay on November 06, 2016, 11:55:30 AM

Quote from: senyorito123 on November 03, 2016, 05:13:34 PM

Quote from: ?? on ??

Quote from: crazyivan on October 23, 2016, 12:11:20 PM

Quote from: miakama on October 23, 2016, 11:21:40 AM

Quote from: crazyivan on October 22, 2016, 03:18:35 PM

They have offered similar contract just before Ether become available. Look how did that end up, terrible for people who have invested. As somebody before said, there s no single person which can provide evidence of even getting close to ROI. Their contract are at best lending money to them to build their farms at 0% interest. GM, how do you sleep at night after lying so much to people?

The contract they offered before the Ethereum price rise, was profitable after the Etheruem price rise.

Well, u dont listen to me. Go buy more of their hash. But pls first provide proof to me and everyone else about you or ANYONE else reaching ROI on their contracts. That should not be difficult.

It seems the ZEC mining contract will be very unprofitable. The hash rate for the cards has increased a lot.

I don't know if zec mining at them is profitable since i didn't have any contracts at them and yet im away from at long time far ago since i really find it not worthy anymore, genisis give so much low roi and possibly that will be the same story to zec, thats why its no still advisable for further to invest on their,

Investment on this kind of business is so risky thats why not advisable to anyone.

I remember that their 60H/s contract costs about $2000. With one AMD R9 390 now, you can do 50H/s and costs less than $200.

Yup, highly non profitable. Also, it s one year contract so you basically buy them equipment to mine after that year 1. I really do not understand what kind of naive noobs still use them.

There are plenty of naive newbie in the world. They will always lose money by using the cloud mining site.

crazyivan

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Quote from: Visbay on November 06, 2016, 11:55:30 AM

Quote from: senyorito123 on November 03, 2016, 05:13:34 PM

Quote from: ?? on ??

Quote from: crazyivan on October 23, 2016, 12:11:20 PM

Quote from: miakama on October 23, 2016, 11:21:40 AM

Quote from: crazyivan on October 22, 2016, 03:18:35 PM

They have offered similar contract just before Ether become available. Look how did that end up, terrible for people who have invested. As somebody before said, there s no single person which can provide evidence of even getting close to ROI. Their contract are at best lending money to them to build their farms at 0% interest. GM, how do you sleep at night after lying so much to people?

The contract they offered before the Ethereum price rise, was profitable after the Etheruem price rise.

Well, u dont listen to me. Go buy more of their hash. But pls first provide proof to me and everyone else about you or ANYONE else reaching ROI on their contracts. That should not be difficult.

It seems the ZEC mining contract will be very unprofitable. The hash rate for the cards has increased a lot.

I don't know if zec mining at them is profitable since i didn't have any contracts at them and yet im away from at long time far ago since i really find it not worthy anymore, genisis give so much low roi and possibly that will be the same story to zec, thats why its no still advisable for further to invest on their,

Investment on this kind of business is so risky thats why not advisable to anyone.

I remember that their 60H/s contract costs about $2000. With one AMD R9 390 now, you can do 50H/s and costs less than $200.

Yup, highly non profitable. Also, it s one year contract so you basically buy them equipment to mine after that year 1. I really do not understand what kind of naive noobs still use them.

Topic: Genesis-Mining Review - page 9. (Read 126928 times)