I wanna invest on genesis-mining. Is it a good idea ?

Babayega31

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Quote from: martinacar on July 19, 2016, 12:23:20 PM

Quote from: nejibens on July 19, 2016, 11:25:24 AM

Genisis mining is paying out since a while, but after the HashOcean big scam , i don't advice anybody to take this risk and investing in the so called "cloud mining" sites.

Apart from the payout just think about it. There are a lot of threads saying cloud mining is a scam and if you search more you will find Genesis Mining being a scam.
Count 1 on 1 together and you know it's bad to invest with Genesis Mining.

There so many people here in this people that all cloudmining sites are scam and even genisis mining got bad review from their investors thats why its not good choice to invest really in their and thats the big reason that you must be aware to think twice on investing on them, genisis mining got bad review to their investors and that scenario you can consider really that investing at them is not a wiser choice for us in that company.

JasonXG

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Quote from: helloeverybody on July 14, 2016, 08:43:45 AM

Ok, answer me this. All these mining companies have hardware which they either rent or own. If you can make profit by renting the miners from them then why don't they just mine the coins themselves?

I wouldn't put any money into any of these, im not sure how anyone makes a profit from them. I doubt they do.

No dude..... No.... There is nothing wrong with the business model it makes perfect sense.

How are you going to buy mining rigs without money ? From investors that's how. Yes you can buy them yourself but eventually you run out of money. So you get money from investors. Slowly adding more hash power. The returns these guys offer are nonesemse. Go do a quick calculation and you will see the prices vs the returns they offer make no sense and dont even factor in the cost of the investors interest and that is because these miners they talk about dont even exist.

Its not the method that's wrong because the scammers dont follow these methods. They just run a ponzi and use whatever is popular at the time to spin their bs story.

WarrEagle

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Isn't almost all cloud mining a scam these days? Or you would be better off just buying the coins outright.

martinacar

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Quote from: nejibens on July 19, 2016, 11:25:24 AM

Genisis mining is paying out since a while, but after the HashOcean big scam , i don't advice anybody to take this risk and investing in the so called "cloud mining" sites.

Apart from the payout just think about it. There are a lot of threads saying cloud mining is a scam and if you search more you will find Genesis Mining being a scam.
Count 1 on 1 together and you know it's bad to invest with Genesis Mining.

nejibens

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Genisis mining is paying out since a while, but after the HashOcean big scam , i don't advice anybody to take this risk and investing in the so called "cloud mining" sites.

JeffBrad12

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Quote from: NetFreak199 on July 19, 2016, 06:59:26 AM

Quote from: taoinfrared on July 14, 2016, 08:32:02 AM

Hi

After I got a little profit form hashocean (before it's gone).
I wanna invest on cloud mining again.
https://www.genesis-mining.com/

What are your guy thinking about this site.

Ty for all comment.

From my experience don't invest in any cloud mining even itstrue mining company just my suggestion just be careful with your money and another thing many says that cloud mining ia not profitable for now.

Just getting some information from a previous discussion on this place, maybe it's will be a reliable and good consideration for you. my suggestion just avoids everything having relationships with the sentences of cloud mining.
https://bitcointalksearch.org/topic/scam-alert-do-not-invest-in-genesis-mining-1185909

NetFreak199

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Quote from: taoinfrared on July 14, 2016, 08:32:02 AM

Hi

After I got a little profit form hashocean (before it's gone).
I wanna invest on cloud mining again.
https://www.genesis-mining.com/

What are your guy thinking about this site.

Ty for all comment.

From my experience don't invest in any cloud mining even itstrue mining company just my suggestion just be careful with your money and another thing many says that cloud mining ia not profitable for now.

DaddyMonsi

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If you want to try cloud mining better think twice as most cloud mining out there are just ponzi's pretending to be mining. Even the somewhat legit Bitmains Hashnest have negative feedback about cash outs not processed on time. There are other ways to earn Bitcoin, don't dive in cloud mining.

JeffBrad12

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a long time ago, there are topics is discuss genesis mining, but many people say they are a scam. it's just opinions from another people. So, let try to look at the history of genesis mining and previous discuss them like. https://bitcointalksearch.org/topic/scam-alert-do-not-invest-in-genesis-mining-1185909 finding your answer from that and using your effort to get another specification discuss genesis mining.

mrhelpful

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Quote from: Newcoins2020 on July 17, 2016, 02:29:09 PM

Quote from: Darwin02 on July 15, 2016, 04:23:50 AM

Follow your heart what should you do it's your own risk no one will be benefit or lost its only you, but for my suggestion it's not a good idea + need 6months before you got roi long time hope you will get your roi if your join.

There is no reason to follow your heart OP. If you google genesis mining you can see that they are involved in shady things
- Screw their customers with Scrypt mining
- Screw their customers with fees; SHA, Scrypt and X11

And worst of all, there is no ROI if you buy their contracts.

Its everything that has been mentioned already.

But to simply put in very that anyone can understand - if operator doesnt manufacture asics itself then just avoid the headache. Youre also running the risk of these bulk resellers to fork in when the prices dont add up in their books but claim they have the hardware as well wouldnt add up in growth.

Because theres a delayed time of these machines arriving to their destination - and time senstive operations like this it would have to be something similar to bitmain.

CryptoBjorn

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I can't believe that I am reading this. There are so many many many threads about genesis mining.
And no, most of them are bad, very bad. Which means you would lose money if you trust your money with them.

Forget cloud mining all together and find a decent project/investment for your money.

Newcoins2020

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Quote from: Darwin02 on July 15, 2016, 04:23:50 AM

Follow your heart what should you do it's your own risk no one will be benefit or lost its only you, but for my suggestion it's not a good idea + need 6months before you got roi long time hope you will get your roi if your join.

There is no reason to follow your heart OP. If you google genesis mining you can see that they are involved in shady things
- Screw their customers with Scrypt mining
- Screw their customers with fees; SHA, Scrypt and X11

And worst of all, there is no ROI if you buy their contracts.

ImHash

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You wanna know what is genesis mining? a very pure scam operation company just taking your money and give you back just some dust.
Not worth the risk at all, better to do some trades or just hold your coins it's better to regret it later.

bapparabi

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no i don't think so ..because due to correct reward and price for bitcoin will not advice to invest in sah256 as it will take more then 3 year to get to roi ..but not sure about x11 ..

But for eth it also take 8 month to get roi ..

so better to hold you btc and wait for price to increase and then try to invest

samcoin

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Genesis mining is legit and trusty company as I think , it has a real mining devices , but its location is unknown , however , I don't like investing in cloud mining , because the profit is too low , so when you put your money there , you must forget about it for long time .

PhilPrime

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Cloud mining mining site is not a good site to invest now because of bitcoin halving effect. Trading is the best opportunity to get some btc because our has a high price as of now

Babayega31

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Quote from: densuj on July 16, 2016, 12:52:17 AM

Quote from: taoinfrared on July 14, 2016, 08:32:02 AM

Hi

After I got a little profit form hashocean (before it's gone).
I wanna invest on cloud mining again.
https://www.genesis-mining.com/

What are your guy thinking about this site.

Ty for all comment.

Before you make Investment on cloud mining service, you must understand that mostly of cloud mining are scamer. You can make Investment on there with you can lost it.

Genisis-mining is real company but nowadays they are not reallly recomendable to invest your money their because they are now ponzi and their miners are not very profitable for todata block difficulty, thats why leave we must leave that site and dont invest even single pennies in there because that conpany is struggling with many issue of their investor that still didnt get their roi for long time investing on that site.

rphk

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every one says genesis- mining site is legit but not sure , similarly some one suggested hashocean is legit site but now everyone knows hashocean site is turned scam , always cloud mining sites are risky and any time go scam.Best is to research on this forum before investing on any such sites

Valzador

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No, investing in a cloud mining site after the bitcoin halving and all the cloud mining ponzis that have been exposed is not a good idea.

It is incredibly risky to invest in a cloud mining site especially one without a reputable owner on this thread.

densuj

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Quote from: taoinfrared on July 14, 2016, 08:32:02 AM

Hi

After I got a little profit form hashocean (before it's gone).
I wanna invest on cloud mining again.
https://www.genesis-mining.com/

What are your guy thinking about this site.

Ty for all comment.

Before you make Investment on cloud mining service, you must understand that mostly of cloud mining are scamer. You can make Investment on there with you can lost it.

Topic: I wanna invest on genesis-mining. Is it a good idea ? (Read 2186 times)