Topic: Genesis Mining vs Hashflare Review - Which is better? (Read 15131 times)

lol. how did you know it ?  do you have any proofs ? anyway . i do heard genesis mining and hasflare mining before , i heard that both of these cloud mining sites are verry popular among others but for now , i dont have any updates regarding on them if they are still paying or not .  im also aware that most cloud mining site are mainly scam and not to be trusted so , i suggest better try other investments or better try the actual mining using a hardware like antminer in order to avoid the risk of getting scammed . mining is also verry difficult nowadays , therfor mining cannot still provide us a good income in the long run .

Hey, I would like to suggest you one project which is not a scam.
Have you ever heard about FinCloud? Cloud mining service from Finom AG, which updated its' tariffs lately. Now there is a variety of options you can choose - starting from basic tariff packaged up to pro tariff package.

Hashflare - Scam!

Genesis Mining - Scam!

I think genesis mining better than it , ı have both accounts

I have used Hashflare for more than 1.5 months and so far the payouts are following my initial forecast. ROI on one year is 400%, could lower to 300% according to the difficulty of hashrate.
But this cloud mining is legit, no doubt about it.
I have a written blog with some advice, screenshot and explanation, check https://hashflare-review.com

The most legit, if not the only legit cloud mining is offered by Hashnest.

Hashnest is a Bitmain company that throughout the years has been producing the most powerful and efficient ASIC miners. Currently they sell the AntS9 (SHA256 miner), AntL3+ (scrypt miner), and AntS3 (X11 miner). AntT9 coming soon.

The reasons they have been able to stay legit in cloud mining:

1) Hashnest produces their own famous Antmain ASICs. Do not buy mining rigs from "middlemen"
2) They are based in China where electricity is sooooooo cheap. Therefore low maintenance fees (I believe if you are located in an expensive energy country like I am right now, physical home mining would be less profitable than Hashnest.
3) Their mining pool has about 20% of the global BTC hashrate.
4) Unfortunately i think they are trying to centralize or control bcash, so no room for any scams or they will fail in centralizing it.
5) They also have hash market. Where people could trade their hashes for BTC
6) If an ASIC becomes unprofitable, they give you the option to have it shipped to you (since it belongs to you), but you would have to pay shipping and handling fees.
7) Recently they created some lottery system where u can buy tickets with Bitcoin to win a miner like S9
They also have the PACMIC contracts which are very low risk, but low yield (currently not offered because of the stupid forks)
9) They keep trying to reduce electric cost and making making announcements about it. Right now I believe is about $0.07 per KWhr. I remember it used to be $0.09 like 2 years ago and at some point they announced it up to $0.11 temporarily due to some disagreement with their power supplier, until they changed it as brought it back to $0.09
10) There is no HashNest referral program! (Usually associated with scams, ponzis, pyramid schemes HYIPs, ... etc.)

NOTE: passive mining at Hashnest is only profitable if you buy a whole miner from them (at lower cost per GH than the markateplace). You could make extra profit by buying low and selling high, but you won't make any ROI if you just buy hash shares from the market.

That said, although I already made ROI on 2 S7 miners in about a year (S7 still profitable on hashnest), I have been desperately trying to by an S9 miner since March. I was too late to the party when they released S9 contracts and there hasn't been any announcements of any further S9 batches. They are in huge demand and tough to grab. My only advice is to try to check daily for announcements and the Hashnest store for when a new batch becomes available for cloudmining. They used to release like 3-4 batches a year, but the more time passes the less batches they are releasing, which makes some sense. Usually mining operations need capital in the beginning, the more they grow their mining operation, the less capital they need from investors to produce more ASICS for their personal use.

Now my turn to ask!  

Does anyone have any insight or experience with NiceHash? I've been trying to figure them out but there's too many variables. I'm finding it hard to believe that NiceHash is profitable since there are 2 middlemen: the hashrate renter and NiceHash. Also, if someone has a mining rig with cheap maintenance, Why on earth would he rent it out rather than making all the mining profit himself?

Have you experienced genesis mining or any other cloud mining personally ?  Cloud minings are not profitable anymore, you will have to wait months longer to get 30% of your base investment.
I don't understand why people still like to mine with cloud minings even they are not suggested to do so. People are now leaving these contracts mining.
It is most better to trade in bitcoin and some major altcoins for winsome results than to invest in cloud minings

Genesis mining is  more Better than hashflare. Because genesis is now the only global player and it is the oldest mining company in cloud mining.

Hashflare seem to be people's favorite as to cloud mining. Why?

I am mining on both of them and both are paying me as I expected. But I think some how I am getting more paid in hashflair. Still its my opinion, you dont have to take my word for it. With Bitcoin projecting at 25k in 10 years, I think everything is worthwhile. You can use beliw link if you want to check as well:
https://hashflare.io/r/34EFC727

Honestly, i think that they both are going to be a huge scam in some time, hashflare had some many bugs and troubles in the last few days, and everybody is complaining about them, because the withdrawal section is a little bit bugged. They both are almost the same but with different name.. I dont understand those who are still mining bitcoin instead of ethereum or monero.

None of them I prefer to use, it's better to mine with hardware or real mining rig. Instead of investing to them, it's a good feeling if you can find it out that mining with your very own rig will give you a chill and you have an assurance that you are earning real bitcoin with the alt coins you mine. The contracts on those cloud mining aren't realistic, the life time contract on hashflare was gone so what do you expect? That's something untrustworthy.

Not invest in cloudmining companys, you will have better earning by just purchasing bitcoins at low and selling them high.
The forum is plagued of why you shouldnt be investing in this kind of sites, in a long term while you cloud mine, using that money to purchase bitcoin directly will give you a better income.

Obviously none of them and this question is getting way awkward for the cloud mining industry. Because they have made there publicity in that way and are not paying attention to what their customer really want from them. The problem is not with the cloud mining industry it's actually the people who are involved within the industry that operates all the mining operations. They see all the money flooding into their wallet which is the only thing they want and they will just disappear once they have got enough.

Now let's talk about the genesis and hasflare? Recently have you seen any bird talking about its legitimacy ? May be yes, one in hundred talks about them and I think that bird comes from the affiliation of these companies and nothing much. So don't bother investing in it.

Mining other cryptocurrency with genesis mining or hashflare will definitely give you better ROI than bitcoin.

With the rise in bitcoin and other cryptocurrency, does anyone still think cloud mining is not profitable? From my own view, I think the smallest of bitcoin will mean a lot in the long run. Don't you think so?

Hey Zocadas, Eobot is a great place to start mining. I have been using them for a while now and they seem to be doing great.

What are you thinking about eobot? Anyone mining there?

iam using genesis minign now since years !
and thansk for the reviews of the other miner hashflare and also genesis reviews.
all in all im good with genesis its also a german admin and iam from germany .
support your local heros


kidn regards

Seems, that genesis is now the only global player. Hashflare turned into scam by limiting lifetime contracts.
Edit: Also in genesis seem to be problems because of withdraw issues.

I have both GM(xmr) and HF(dash, btc, eth) just for testing with plans about 50-60$.
HF - daily profit droped from $0.49(May) to $0.30(Sep).
GM has rather complicated UI and you need some time to read FAQ.

You can earn more using markets if you have time to watch all news and signals instead of cloud mining.

From experience, the one that makes Hashnest profitable is that their GHs market is very active. Trading GHs is much more profitable in their vs their mining.

I like to spend fiat on cloud mining, I have been mining XMR and ETH with Genesis for 4 months and have returned my money invested (mostly because the coins have going up over 100%+ in that time  ).. I wouldn't invest my precious bitcoin...

I believe in your data analysis which is nothing but calculated maths. The thing is these numbers look very promising and you feel wonder that why I should not invest in it. There lies a very important reason behind this, the legitimacy of cloud miners. Truth is there are only few of the cloud mining sites who are promising the payout. The genesis and hashflare are one of them but I would advise you to put your wealth responsibly on these sites. They are paying "for now" but we are not sure about tomorrow. Cloud mining works on the basis that user invest money and this money used for maintaining the mining rigs on the other side. For this they provide you hashrate also which looks pity as to how they might be maintaining profits. There is ambiguity how they might be catching the break even point after the costs of expenses. Anyway the legit answer for ambiguity is not to invest really.

I am new to cryptocurrency. I talked to a friend who is making $, but now I realize I need to do my own research. I now know how and where to research. I believe I will see a return on my $$$. I have seen a 15% ROI since I began a month ago.

Couldn't you up front do some research before investing a decent sum of money into something that will never result in whatever return? Genesis Mining is a well known ponzi scheme that has been pointed out to be so for many years now. If you invested your money into Bitcoin instead of buying worthless cloud mining contracts, you would be sitting in the profits right now. The only thing you can do now is just trying to recoup as much of your investment as possible -- don't reinvest what you generate, that's a common mistake people make.

Theoretical all of them will do but practically can't say anything. This is because clouds can turn black at anytime if they don't see any profit with their mining. There also rises a question that whether people really do the cloud mining or not by using real hardware back there which makes it difficult to take the right decision about theses sites. If you listen then it's better option to take the foot off from such kind of investments. Better to trade or gamble but no investments into cloud mining.


Won't happen really to be speaking professionally.

I just purchased the 17.5 THS contract. Within 3 weeks my payout decreased from .005 to .0036. It is a scam. I paid $2,300 and may never see a ROI.

Mining works only in hardware not in the clouds buddy. These two sites however has shown amazing potential in the cloud mining industry and they are paying to the customers really. But cloud mining as always listed under the ponzi sites and it's better to stay away from them. They actually have no supporting evidences that they will run for lifetime as your ROI is decided on the investment you are doing. It can take up to five years to get it back then you start earning money from it. So who knows when these websites will stop or turn into junk yard. Better keep it low investment if you still want to go for it.

hashnest seen better than most for profiit but if u can buid a pc make a mining rig try it out with 7 gpus and use rx 580 or gtx 1060's
next you could buy 3 x antminers from bitmain and try it out maybe go for the L3+ or d3 these all pre order
thx
steve

Obviously if you invest small you'll never ROI but if you willing to risk $5000+ not for bitcoin cloud mining but for altcoins which are considerably cheap with easy mining in the hopes that they will go up eventually after 1 year or so.

none are better. Both will plans will become unprofitable before they ROI, so in end you will lose money mate.

Genesis cut my power for unnprofitable contract.

Thanks guys for your contribution. I will check out hashnest and post my review.

Yes I agree, hashnest is better than genesis mining/hashflare.
I think genesis mining/hashflare is same, I don't suggest you follow both, better mining self, I already invested to sha-256 and etherium but until 10 months not have RoI, I regret.

try hashnest which is a reliable platform of cloud mining.

Okay, from all that is contributed about cloud mining, is there a profitable cloud mining investment that one can venture into and will give a good ROI. Please contribute. Thanks

I'm getting a lot of insight here. Please keep your contribution coming in.

No one is the best, because none of them are good. Investing on it you are losing money. If you hold your BTCs, after 1.5 years you will have more profit than after 1.5 years of mineration with this "infinity" contract. Makes no sense to invest on it hoping to earn money as you know you won't be able to recover the same amount of Bitcoins you invested or to take too much time to ahieve it.

As a hobby investment if you have much money it can be acceptable, but as a method to earn money no.

So your data shows that the payoff time (ROI) is around 1.5 years. This assumes NO increase in global hash rate. It also assumes the current price of BTC remains. If you actually run the data with assumed increases (based on history), you will come up with a ROI payback time of infinity (meaning it won't happen).

I'd like you to focus on this one simple point:
Hashflare
Mining Period – Based on hashrate
Genesis Mining
Mining Period – Lifetime

Just this small thing should make a red light start flashing.
Based on hashrate means that the period can be extended, but we don't know to what point. It can be a year to ROI, it can be 3 years. You can't argue with them if it becomes extended to 4 or 5 years, because the company does not guarantee anything.

Lifetime is a joke. Whose life are we talking about? The client's or maybe the CEO's? Some of us may live for another 60 years, I'd like to bet the owner that he won't be paying his clients for that long, even if it were to be just a dollar a month. If you believe their company will still exist in the year 2057, be my guest.

I agree that cloudmining is not profitable now. Anyway,  according to the review it is the Hashflare that give more "profit"  though I doubt if any of us if we start investing to this cloudmining  can ever get ROI.  I have invested in cloudmining but I never had my RoI since those company had closed even before I got half  of my investment lol.

Above estimation can't be correct because break even period will keep on increasing with increase in mining difficulty. Within this 400 days difficulty may rise significantly which may push this time to more than 2 year.

Also lifetime contract is just a pseudo term because if your contract couldn't earn enough maintenance fee those contract will stop within few years.

These are legit cloudmining investment sites. Hes comparing these two cloudmining. If you ask me if which one is the best. I will say. Theres none. Theres no profitable cloudmining these days. Im telling you that. Have you heard any investor became successful on cloudmining? Even if its legit. I dont think it worth the money i invest them.

Both are good for exchanging your btc into the other btc, it will never give you a profit. Just try to use the other way rather than bitcoin cloudmining. you just give a free loan for them. If you can do other better than it and why not?
It seems like your capital is just for paying the maintenance fees. 

Is there anyone in their right mind that would go for 400+ days ROI when you can build rig yourself cheaper and have ROI time that is about half of what they are offering. I mean I get it that cloud mining was popular at one point but now definitely not.

You don't need to compare on which two is better. Because they are both actually not good as an investment. The Return of Investment(ROI) will take 1year almost before it become break even. Within that period of time in 1 year you can possibly earn more than you invest in the coin. especially if you are doing trade or participating in the campaign, compare to that things.

Cloud Mining contract is always scam/fraud. If you really want to mine, get some mining equipment and mine yourself. Those people that bought Ethereum mining contract this time last year didn't make profit on their investment.

Hi folks, thanks for your honest review about these cloud mining sites. I have put these two Genesis Mining and Hashflare against each to know your opinion about them. Personally, cloud mining is meant to be a passive income. We should all see it in that manner. If you want to make daily earnings through it, I think you should think otherwise or better still look elsewhere.

But I will like to ask What about the free cloud mining sites. What is your opinion on them. Thanks

I cant really say about these two cloud mining sites because i dont want to put my money on this kind of schemes on which i already saw that this sites wont generate me profits in the long run and its really better to run off your own mining farm rather than entrusting your money on to this dudes.

My thought if just trade or keep your btc is better rather than try to get some profit from the cloud mining site. Or at least buy btc through the exchange site is reliable rather than try to buy some hash.

You will never ever make any profits.

I ve personally made money with Hashflare. Genesis, no way you can make money with them. Still, all cloudmining services re dubious in terms or ROI cause mining difficulty s been skyrocketing recently so I d probably pass on this.

youre thread not review about duration contract
how long in duration contrac in genesis mining and hashflare ?
or life time contract, can get reveneu profit is forever

Those promo codes though , cloud mining or in general mining bitcoin is about a tight competition an arms race, they need to constantly add mining hash power in order to sustain a profitable operation, so unless you are going to invest $2000 daily and even go higher than that? there is no point investing in cloud mining, honest or no honest before doing so be prepared to lose everything.

You are Newbie there. Maybe first to read here about cloud mining.but a lot of times written. it would be easier for you to decide. Unless this is not an advertisement for these two companies
Anyway, cloud mining -> go away from there. Most of all are scams. If I good understand your analysis, you need more than one year to return invested $24. This amount can you earn over claiming faucet
again: Cloud Mining it's a SCAM!

Honest Review on Genesis Mining vs Hashflare Review

Genesis Mining

Genesis Mining is one among the oldest players once it involves cloud mining. They have displayed photos and videos of their installations proving they’re a true mining operation.

Hashflare

This mining company was formed by the team behind Hashcoins.com, the cloud mining service is relatively new however quite promising. The site is easy to navigate and gives easy to read inputs on your earnings.

Well, in my review I will be using the base hashrate of Genesis Mining which is 200 GH/s as a case study of my review while on the other hand Hashflare has lower base hashrate of 10 GH/s.

Below is a quick comparison between Genesis Mining vs Hashflare.

Hashflare
Mining Period – Based on hashrate
Genesis Mining
Mining Period – Lifetime

Hashflare
Price @ 200 GHs – $24 ($0.12/GHs)
Genesis Mining
Price @ 200 GHs – $30 ($0.15/GHs)

Hashflare
Maintenance Fee/Day – $0.08 ($0.0004/GHs/day)
Genesis Mining
Maintenance Fee/Day – $0.07 ($0.00035/GHs/day)

Hashflare
Estimated Revenue/Day – ฿0.00006252
Estimated Revenue/Month – ฿0.00190153
Estimated Revenue/Year – ฿0.02281842
Genesis Mining
Estimated Revenue/Day – ฿0.00007337
Estimated Revenue/Month – ฿0.00223180
Estimated Revenue/Year – ฿0.02678155

Hashflare
Break Even Period – 417 days
Genesis Mining
Break Even Period – 444 days

Hashflare
Contract During – Infinity
Genesis Mining
Contract During – Infinity

Hashflare
Promo Code – 9AEE5A6E (10% off any order)
Geneis Mining
Promo Code – EJPRUY (3% off any order)

Based on my Genesis Mining vs Hashflare review, am sure by now you will be able to decide on the best cloud mining site for you that fit into your budget.

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