So, there is actually no Cloud Mining Website that is legit?
Both Hashnest and GM are legit. None of them is profitable ATM, especially not Genesis Mining.
What are you taking into account when you say it's not profitable?
I haven't reached ROI with GM yet, but have been receiving constant payments and expect to ROI soon, and after that collect profits...
What is wrong with my logic? Please explain so I avoid putting more money into it
Here is what s wrong with your logic. With galloping BTC mining dif of 20-30% per month, there s NO WAY you are about to reach ROI soon. If I m wrong, pls share your data.
Even if you re able to reach your ROI mysteriously, your profits after that re going be dust, so low, you cant call them profits.
In essence, what you GM investors do is to provide nice, interest free loans to GM and they use that money to build those farms while you get no profit or peanuts. If I m wrong, show me your data. Tell me when you have invested, what was BTC price of your contract so we can see what was your ROI.
We may not always agree with each other, but you couldn't be more correct on this.
In order to reach ROI with massive difficulty ramping you have to either buy a higher amount of hash proportional to your initial investment compared to the rise in difficulty. Or...
The much smarter way is to buy hash and then trade it, the whole time making most of your profits off of trades, rather than the actually mined Bitcoin.
I do this myself, especially today was great with the crash in S7 and rise in S5. But, honestly it has taken me over a year to make sure I get 3 out of 4 trades correct. If you don't, then you're losing.
Plus, most people forget that some hash has a fee when sold.
Basically beginners should strictly buy Bitcoin with cash and watch the markets and learn. They will only lose if they try to invest most likely. You need to learn how to be a shark in this game of trading we play.
