How do I identify genuine mining opportunities? - page 3.

Kemarit

legendary

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Quote from: Buwa on December 01, 2017, 05:46:38 PM

With scammers everywhere wanting to capitalize on one's lack of knowledge, how can I idenify which mining opportunities are genuine to avoid falling victim to scammers. Help out with whatever knowledge and experiences you might have.

Scammers are also evolving as well. And I haven't seen any trusted cloud mining except for Genesis Mining, but I also heard lot of members crying scam. Personally, I don't have investment on them so I can't tell if them are scam or not. However, there are a lot of cloud mining site popping around. You need to look at the end of the site, what are their offers and what they can provide. But I wouldn't put my interest on them though. Would rather buy and hold than invest on that kind of site because the chance of getting a good ROI is really small now. And why are you interested though? Its really hard to spot them now because they are really evolving so my only advise is to stay away.

deadsilent

hero member

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It's hard to identify what cloud mining can be a genuine. Even a reputable cloudmining can be a scam. They give you lifetime contract and they will change it lately because they are not be able to cover their power costs. That's how they work. Since the money you invest to them are nonrefundable. You can't get your money back. Besides, it's not even profitable at all. You're not even sure if it can cover your initial investment to them. They said you can get your ROI in just 6 months. Well, that's absolutely not true.

There's a lot of investment out there which can give you decent profit and surely not a scam. Trading, lending and mining. These are good ways to make good profit.

filharvey

hero member

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Quote from: Buwa on December 01, 2017, 05:46:38 PM

With scammers everywhere wanting to capitalize on one's lack of knowledge, how can I idenify which mining opportunities are genuine to avoid falling victim to scammers. Help out with whatever knowledge and experiences you might have.

Its true that nowadays most of the cloud mining firms are scam.Genesis is said to be the most legit firm.They seem to allow three plans based on the hash rate.

But whatever plan you select,for getting your investment back,it may take approximately six months to get.You would have to consider such things before investing in it.

khufuking

sr. member

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There is no cloud mining that I know off that can make you any real profit , In my opinion stay away far away from them . There is ton of others things that you can put your money in that is more reliable than cloud mining .

batang_bitcoin

hero member

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Quote from: Buwa on December 01, 2017, 05:46:38 PM

With scammers everywhere wanting to capitalize on one's lack of knowledge, how can I idenify which mining opportunities are genuine to avoid falling victim to scammers. Help out with whatever knowledge and experiences you might have.

If you are talking about cloud mining, there's no need for you to do some deep research. Basic knowledge is enough to determine that they are scams. But if you are still looking for a genuine way to mine, you should start to get know more about mining woth ASIC / Antminer or GPU mining these are the legit mining you are looking for.

Buwa

newbie

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Quote from: OuterTech on December 01, 2017, 06:06:31 PM

I think you're talking about cloud mining. IMO you shouldn't waste you money in cloud mining, it's not worth. With normal mining with antminer or asicsminer you will have to spend around 2 years to be able to take all the money you invested in mining back but it'll be longer if you use cloud mining. Beside there are a lot of scam cloud mining so it's not easy to find out a truthworthy one so you should better stay away of cloud mining and try to earn from some other way like trading, investing in ICO project or just holding.

Thanks so much for your response. What i want more details on is: identifying genuin partners to partner with to mine crypto as there are so many scammers out there. If someone approaches me that he mines and he would want me to invest, what are the key things to look out for? What are the key questions to ask?

Buwa

newbie

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Quote from: BlackCrypto29 on December 01, 2017, 05:55:29 PM

It's good u do an extensive research on cloud mining if u don't have money to buy any of the antminer.. I will always recommend Genesis

Do you have any experience with Genesis? And any contact details i.e their website?

OuterTech

full member

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I think you're talking about cloud mining. IMO you shouldn't waste you money in cloud mining, it's not worth. With normal mining with antminer or asicsminer you will have to spend around 2 years to be able to take all the money you invested in mining back but it'll be longer if you use cloud mining. Beside there are a lot of scam cloud mining so it's not easy to find out a truthworthy one so you should better stay away of cloud mining and try to earn from some other way like trading, investing in ICO project or just holding.

BlackCrypto29

newbie

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It's good u do an extensive research on cloud mining if u don't have money to buy any of the antminer.. I will always recommend Genesis

Buwa

newbie

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With scammers everywhere wanting to capitalize on one's lack of knowledge, how can I idenify which mining opportunities are genuine to avoid falling victim to scammers. Help out with whatever knowledge and experiences you might have.

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