hashflare or genesis-mining ? - page 2.

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legendary

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Quote from: BitHodler on July 20, 2017, 06:21:51 AM

Them being transparent means that they openly share all their mining addresses...

Someone on reddit asked the following question:

"Where's Genesis Mining in all this? They've supposedly got a massive massive mining operation. Yet I never see them on any of the pie charts ..."

The subject of the discussion was about:

82.1% GB Miners just started signalling

Where is genesis mining? If they are a mining company because I do not see them in this image:

Hashflare is the same story.

You should already have read everyone's comments, and everyone agrees that these 2 cloud mining companies are not profitable.

Oh I speak from experience myself and I gave up this genesis mining a long time ago

BitMaxz

legendary

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Quote from: maeusi on July 20, 2017, 05:02:39 PM

On my experience, to make profits by cloud mining. I wouldn't recommend hashflare. The ROI is awful. Only the one-year-contracts for example with DASH or ETH could give profits on longterm. I didn't try genesis yet, but I mine also on eobot because I can cashout 5-years-contracts by exchanging to 24 hours, if needed.

The fact there are all not profitable and most of the cloud mining site are turning it to scam in the end this is base what i experience before that until now the other people are still abusing and scamming other people they are making a good deal like 10% daily or more. What i said there is no profitable cloud mining site most they are scammers and and high risky invetment this is not a good habit to invest.. if you really want to make a good profit invest and make your own mining rig and start to mine altcoin it will be more profitable than you are just investing in risky sites..

maeusi

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On my experience, to make profits by cloud mining. I wouldn't recommend hashflare. The ROI is awful. Only the one-year-contracts for example with DASH or ETH could give profits on longterm. I didn't try genesis yet, but I mine also on eobot because I can cashout 5-years-contracts by exchanging to 24 hours, if needed.

giveen

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No don't even think of earning bitcoins from genesis mining or hashflare and many people's contract get's suspended because of their fee structure. It is not your fault many do get attracted towards the lifetime purchase but in long run it will be a loss for you. Instead but any of their 2 year plan i bought few mh/s dash plan and got roi in 6 months and currently I'm earning pure profit for next 1.5 years which isn't bad. Try their other plan and buy the plan in which you get the fastest roi.

amacar2

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Quote from: tairus91 on July 19, 2017, 03:55:31 PM

Is it cheating or the truth you can earn the bitcoins in the cloud?

- It is true that you can actually earn from cloud mining but there is no guarantee that you will make any profit out of it.
- Talking about genesis-mining they are registered company and are trusted by community but that doesn't mean they can't ran away.
- Most of the packages these cloud mining platforms have are not profitable if price of bitcoin doesn't sky rocket in near future but along with price mining difficulty will also increase that will lower down your reward per day

So in overall if you can afford to wait for years to get back profit in your initial investment than you can buy cloud mining packages with them but you have to remember that you can even loss what you will invest in them.

SONG GEET

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Quote from: tairus91 on July 19, 2017, 03:55:31 PM

Is it cheating or the truth you can earn the bitcoins in the cloud?

It is virtual mining and they insures that they have real mining hardware with them that will keep mining for you but there is no way to verify how much mining power they actually have in their mining farms so it is quite risky to invest in them.

sulendra12

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Quote from: tairus91 on July 19, 2017, 03:55:31 PM

Is it cheating or the truth you can earn the bitcoins in the cloud?

Although those two sites are legit it doesn't mean you can easily earn money from there and from what I have heard till now, cloud mining isn't a good idea to invest your money even the sites you invest are legit because you need capital to earn something from cloudmining but it takes long time to pass ROI.

biggbox

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I have good experience with Hashflare. ROI-ed with them once. I am going in again.

But do it at your own risk - and use money which you can only afford to lose.

Rahar02

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Of course people could get profits through cloud mining, but the owners who get the biggest portion and for the rest, just good luck for them. Because there are too many scammers around, plenty of scam cloud mining, or very small return if you invest on them.
So, it clearly doesn't recommended to risk your money into uncertainty of cloud mining. If you want to prove that, be careful and don't forget to give us enlightenment after your capital paid off.

BitHodler

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@hello_good_sir

Earning implies that you actually make money, and this isn't the case with cloud mining. Them paying you fractions of your own money back is NOT earning.

Genesis mining is a well set up ponzi scheme with quite a hefty marketing budget due to all the idiots throwing their money to waste by "investing" in their platform.

Them being transparent means that they openly share all their mining addresses, which simply isn't the case. No show of any mining addresses means that they aren't mining.

pinkflower

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Between any cloudmining sites, profits you get from one will not be significantly bigger than the other. They require you to reinvest some or even all of your profits to keep up with the rising difficulty in mining.

Go with Genesis if you really want to try cloudmining. But it's all the same. You all will lose money in the long run.

hello_good_sir

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Quote from: tairus91 on July 19, 2017, 03:55:31 PM

Is it cheating or the truth you can earn the bitcoins in the cloud?

Well, you can definitely earn bitcoin from mining. But whether it is profitable, or not, is a completely different narrative.

Both of these companies are supposedly legit and has good communities, however you'll basically never ever break even with them. Genesis mining i have personal experience with and i can say you'd be lucky to get just 50% of your initial investment back.

But if you're really wanting to get into it, nobody can stop you. I'll say genesis mining because there's just a lot more trust and they have an active youtube channel. Also, their team seems to be more transparent.

mrcash02

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The services like Genesis-Mining and HashFlare have a lot of machines mining Bitcoins for them all day long, 24/7. So they give you an opportunity to earn passive income by investing on their businesses. They probably use the money you send them to expand their business, pay employees, pay bills, etc...

The catch here is that they offer you a lifetime plan, which theoretically would generate Bitcoin for you forever! But each new day the income become lower and lower, at some point you will probably receive 0 satoshis per day... The only thing I know about this kind of investment is that no one was able to hit ROI. Take your own conclusions about it.

BitMaxz

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Quote from: tairus91 on July 19, 2017, 03:55:31 PM

Is it cheating or the truth you can earn the bitcoins in the cloud?

Such a briliant topic is always repeating in service discussion and newbie are always posting about this kind of investment site you are not reading the service discussion there are a lot of thread telling that its not safe to invest almost all cloud mining site they are not profitable and most of them in the end they are ponzi scheme. if you really want to earn a good profit better to stay hold in bitcoin and wait for a long time to sell them and gain a good profit..

Bitcoinsummoner

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Maintain Social Distance, Stay safe.

Not a good idea to use or invest money in those site there is no investment site are giving free money..
If you really want to invest building or buying mining rig is the one the best to mine altcoin.. that you can exchange in bitcoin...
Like other said better to stay away just to safe of your own money..

poordeveloper

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Unfortunately it's almost 100% sure they are Ponzi schemes.

I advise you to stay away of both sites. It's happened to many times before: they all end the same, the program stops paying or goes offline directly.

ImHash

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Before you sentencing people to jail why don't you move this thread to service discussion and then talk about cheating?
It's true, it's not a magical thing, miners sell their hash power to people remotely without giving any profit in return, they call it cloud mining. you will send your money and receive a contract that's all totally legit but the question remains unanswered, will you earn any profit or even get your initial investment back at all or not? as an experienced cloud miner I'd tell you not.

tairus91

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Is it cheating or the truth you can earn the bitcoins in the cloud?

Topic: hashflare or genesis-mining ? - page 2. (Read 1696 times)