Topic: hashflare or genesis-mining ? (Read 1711 times)

@crairezx20

Buying Bitcoin, or basically any crypto currency, has always been the better option. People however find simply hodling to be a boring practice, where some of them even refer to hodling as being a waste of time.

People are looking to increase their actual coin count instead of just the value in fiat. In most cases cloud mining pops up as being the best option to generate passive income.

But the reality, as you also stated, is that the only winners are those behind these cloud mining sites. But then again, no matter how many times people get warned to not invest in cloud mining, they will do it anyway.

Why many people are still believing in cloud mining site even almost all cloud mining are just good from the start and the end they will run after they got a lot of profit.
That is why other people here are not recommending cloud mining site because they know actually what will happen to your money and they are just help you to save your money safely or much better to invest in bitcoin and hold that investing your bitcoin in cloud mining site that anytime you can be scam..
the best that you can do now is to buy more bitcoin and save it for a long time you can make profit in few weeks or months because i believe that the price of bitcoin will increase more soon..

I think the 2 companies are legit and we can make money with them and I don't think it's a ponzi scheme.

But two aspects disturbs me a bit about cloud mining :

1/ --------------
The client doesn't have control over the mining pools where the hashing power will go. It's controlled by the cloud provider.
Let's say I've created my own mining pool, and want to send all my rented hashing power there, then this is not a possible
way for cloud mining. You can't lead the mining where you want...
So you don't know exactly how many coins were really mined for you : 100 coins, 150 coins ? only the provider knows...
You are forced to blindly trust the daily earnings shown to you, without knowing exactly what happened during the hashing day...
Nothing can stop a provider to keep some coins apart. You will never know that.

2/ -------------
Why a provider would rent its huge hashing power when the company can mine itself and make money without us...
I would say the paid money would be to buy extra hardware to let you mine. Hmm, I suppose that when you buy hashing power, your mining starts instantly, isn't it?
So they have the hardware at hand already...
Also, won't it be more profitable to let all their mining hardware run altogether instead of waiting a contract to
be paid before letting the hardware start mining? I'm sure they buy extra hardware to handle more hashing power, but I suppose that every machine is used to mine ,
even with or without a contracts linked to running machines.

Cloud mining has its potential, but I would be more reassured when a cloud mining service will let us
set where the hashing power will really go... I would like to see, live, how many coins are mined with the power I would pay.
The only way for that would be to let us tell on which mining pools we want to use the hashing power and by using our own mining credentials on pools.

I will give positive reviews to hashflare because I have used it before and been paid out from it. I was on lowest hash rate of 0.05 Th/s which made me $4 a month. Yeah I know that's too low but I was just trying the site. It paid me twice when I reached my minimum payout limit. Now my hash rate is still running but minimum payout is heavy for my returns.

Neither, don't fall for cloud mining. Don't waste your money, if you give them $500 I guarantee you in a year time you'll not be able to earn your $500 back. Either buy your own GPU miner, or buy bitcoin/ether outright and keep it in a cold wallet. This way you can get better returns in a year.

Don't use any of these.
If you want to mine coins buy some hardware and start mining by yourself.

My answer for this inquiry is simply "No one is the best on both of them".

Why? Its because those site is ponzi scheme and if you compute the profits you can get for long time investing on them surely you will be discouraged for the result of it so its better to disregard this type of investment and look for better oppurtunities since you cannot earn good money for just waiting for money to drop of on your pocket so you must work for it to see more better result.

I already know this two cloudmining for bitcoins and altcoins actualy i have a acount too in ginesis and hashflare but i never try to invest in this two some people say this two is leget and good but the ROI is too long to get your investing money so for me i prefer to do a signature campaign rather than cloud moning.

Ok, i will answer based on my experience

I use hashflare (just buy 10 GHS for test on 2016) and i use Genesis mining too (not invested to much) . Hashflare i invest 0.001 on that time. Its almost 11 month but..... sad I just got 0.0003?? Well i know bitcoin price and difficult always increasing so im not trust cloud mining again.
But i back on genesis and already get my investment back on 3-6 month (im not remember) because i got some referal too. Of course i still have passive income from genesis, So genesis is better.

But, i dont reccomend use cloud mining for now. A lot peoples already say it. If you still want invest, then invest with your own risk.

What does legit mean in your book? Registered? Paying taxes? Paying their customers and not planning a scam?
Cloud mining companies that sell lifetime contracts and reserve the right to shut it down when it becomes unprofitable for them is an obvious scam. You are lured in by "lifetime" and do your calculations based on that, but when a company closes down after a year your predictions go down the drain.

There is chance that both of them are legit until now. I'm saying chance because they are currently paying but like others they can be scam sooner we think. The pool distribution for both of them is not that significant and the progress has decreased in recent years. I tried hash flare with ROI of one year, I never achieved it because pulled out my earnings and reinvested nothing.

It is like sitting in for an objective type question with only two options to chose from. What if someone like me says, none of the above ?

Though both of the mentioned sites are running for a long time, there are speculations about both of them, or in cloud mining as a whole, so I would prefer to avoid both or any in the same lines.

I am still confused after reading your topic and then the question in the post. What in the name you think that topic name is matching your question. They don't relate at all. Why are you trying compare the two ponzi sites and then making question whether they are scam or not. Of course they are scam and cheaters because they will never afford paying you by mining with no hardwares behind the scenes.

its true because i see there is many people get success with cloud mining and the two cloud mining you mention is a good company. they have been online since almost more than 3 years ago and until now, they still paying their members. i think its good to join with them but you need to thinking how much you want to buy the hashrate. i think i am prefer with genesis-mining because in genesis-mining, you can have several option for mining and not just mining bitcoin.

@Slow death

Since the very early days of the existence of Genesis mining, people have been bombarding them with legitimate questions about their mining operations, but all the way till now, no answer.

In the same way, they are "heavily" involved into altcoin mining, but once again, they consistently prevent themselves from answering anything related to their operations ~ people should wake up for once.

This website will help you:

http://www.cloudmining-discount.com/en/top-5-provider/


You can improve your ROI when using a discount code.

Whether it be genesis or hashflare, all will get to same non earning point where you would be unable to get your invested money back. It would be a good option to buy your own miner from amazon.

cloudminers are all scam. so none of them.

Well genesis mining could be in the other pools, and so could hashflare.

However it seems extremely unlikely that when you have such a widely known cloud mining operation going on you choose to entire other people's pools and pay a fee and risk your funds instead of just doing it all yourself. Yeah it's more risk but you get more in the long run.

If you were to choose one between the two then definitely genesis mining. Hashflare definitely has very little reputation compared to Genesis mining. More effort has been put into creating their site by genesis as well imo.

Both have operated a long time. Genesis Mining seems to be a legit cloud mining company. People have different opinions about Hashflare. However, at Allcloudminers there are calculations published from all contracts from both Genesis Mining and Hashflare. Also, read complete reviews.

www.allcloudminers.com