i want invest money in cloud mining - page 2.

Wipro

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Quote from: Pagandog on June 28, 2017, 04:06:53 PM

Quote from: YoungThurstonHowell on June 28, 2017, 02:34:29 PM

I would not recommend Genesis Mining. I have 30Mhs of ETH mining with them and since my contract started 4 weeks ago I've already had to write multiple support tickets for missing payments. Each time I write them they give a different excuse for why they missed a payment for over .06 ETH and a $5 ref. commission. On top of all that my daily profit has decreased by 30% in that short amount of time.

I have had a similar yet different experience. I have 60Mhs of ETH and i have seen my rate drop but that is due to more people mining ETH. That is clearly expected with mining. Even if you purchased your own rig it would be mining less now that it was a few weeks ago. As for daily profit.....my has gone down as well but that is due to the price of ETH dropping too, is your 30% figure based on ETH or $$$ amount ...with the upswing today my profit is going up....I am pretty sure this is the risk/benefit to mining.

I have planned to start cloud mining in Genesis for btc alone with 30th hash power. Will it good returns to me. If I have started with it. More over it shows 0.0003 btc for maintenance when ai tried to buy the hashpower.
Is it correct? Please confirm the information bros.

Wusolini

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no need to carry heavy money bags anymore

DO NOT INVEST IN CLOUDMINING ... definitely not worth it.

If you still want to cloudmine then your only options are Hashnest, Bixin or BW.

But be aware you can't profit just on the mining itself. You have to be active trader (buy/sell GHs all the time). Mining revenues are only kind of bonus.

Pagandog

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Quote from: YoungThurstonHowell on June 28, 2017, 02:34:29 PM

I would not recommend Genesis Mining. I have 30Mhs of ETH mining with them and since my contract started 4 weeks ago I've already had to write multiple support tickets for missing payments. Each time I write them they give a different excuse for why they missed a payment for over .06 ETH and a $5 ref. commission. On top of all that my daily profit has decreased by 30% in that short amount of time.

I have had a similar yet different experience. I have 60Mhs of ETH and i have seen my rate drop but that is due to more people mining ETH. That is clearly expected with mining. Even if you purchased your own rig it would be mining less now that it was a few weeks ago. As for daily profit.....my has gone down as well but that is due to the price of ETH dropping too, is your 30% figure based on ETH or $$$ amount ...with the upswing today my profit is going up....I am pretty sure this is the risk/benefit to mining.

YoungThurstonHowell

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I would not recommend Genesis Mining. I have 30Mhs of ETH mining with them and since my contract started 4 weeks ago I've already had to write multiple support tickets for missing payments. Each time I write them they give a different excuse for why they missed a payment for over .06 ETH and a $5 ref. commission. On top of all that my daily profit has decreased by 30% in that short amount of time.

Heartilly

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Quote from: sfgdsgdfgh on June 27, 2017, 04:50:31 AM

im targeting genesis mining, what do you advice me ?

i think invest 3000$ in genesis mining, is big risk?

i know, that there is trading system and maybe i will lost my 3000$ ;

what is risk ? and what can you advice me ? Lips sealed

Your $3,000 maybe will lost too during cloudmining. Why? In the future you will pullout it wasting some time. Genesis seems to be legit. Compute your ROI and remember it will changed as time passes by. I think after you saw your calculation, you will now have doubts for your expected profits.

Im sure you don't want to wait for long time for small profits as no sense to do that even for passive income. I suggest to used that $3,000 on another risky method but worth to try.

BitHodler

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Quote from: zeze18 on June 28, 2017, 01:08:40 PM

It seems to have to be more selective again in mining and requires various considerations for its implementation.

You don't have to be selective at all when it comes to cloud mining. You only have to look at whether or not cloud mining is a profitable option ~ answer is a big NO.

That should be enough reason to avoid cloud mining in general, right? What person is going to invest in something that isn't profitable at all? It makes no sense.

If you want to get rid of your money, then be so kind to donate them to a charity instead of filling the pockets of con artists.

zeze18

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I agree with you, if it turns out that the mining program is sometimes just a fonzi, of course this will result in losses on mining investment.
It seems to have to be more selective again in mining and requires various considerations for its implementation.

darthmaul

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Thats very tough decision. You should be careful with cloud mining due to many factors. The fist thing with could mining is scamming out. Most of the cloud miners get scammed because the host do not pay back due to unprofitable contracts. They turn out like that because they are not able to pay the mining electricity costs, maintenance charges for some reasons. As you might be knowing that network difficulty is increasing day by day due increased number of miners in the field itself. This has led to higher fees too as well as their competition for blockchain. To overcome this problem they only have on option and that is to get more miners at works which means more investment which they can not do as they did not make any profit. So they simply shut the program and the cloud mining turns Ponzi. Bette stay away from it for this major reason.

johnwest

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Quote from: stroigtcoin on June 28, 2017, 05:09:09 AM

No, my advice is no, too much time for getting ROI back.

Cloud mining, as well as Genesis mining, was profitable only in the early phases and now you cant even get back your ROI. Many investors thought it will be profitable and invested like you but rarely someone made a profit out of it. Better to stay away from it.

stroigtcoin

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No, my advice is no, too much time for getting ROI back.

odolvlobo

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Quote from: darthmaul on June 27, 2017, 09:24:53 AM

... I hold hashing rate worth $ 500. This is giving me around 4.2 TH/s of speed with which I am able to earn $3-$5 per day with different mining pools. This is not much but something is better than nothing. More important is that has flare is being genuine at this point.

I hate to be the one to give you the bad news, but if you paid 0.2 BTC for 4.2 TH/s, you will never break even.

Yuuto

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Quote from: sfgdsgdfgh on June 27, 2017, 09:30:16 AM

ok thnx :

I don't think that any of the previous responses covered this:

The only reason why a cloud mining site to exist is to make money. There are only two ways to make money off cloud mining for the operator, when the difficulty is going up on a daily basis - 1. offer a ponzi scheme that will pay some people but scam most others or 2. Offer a legitimate service, with legitimate business model, try to get as many people into this as possible promising returns but charge maintenance fees that will eat up most of the returns.

Now Genesis-mining is most likely 2, or could be 1 as well. It is a trusted company, but if you are aiming for the profits, don't do it. I had a contract with them that got cancelled a few months after, not even achieving 20% because of the halving.

PX-Z

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pxzone.online

Advice? I guess you read already all those posts and suggestions above. All you need is to take the risks since $3000 is huge enough and once you get scammed or you don't get your ROI in a a year then it's your fault in which you know it once you invest there.

Wipro

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Quote from: mrcash02 on June 27, 2017, 10:54:59 PM

Between trading and cloud mining I would prefer trading. Cloud mining you need to send all the money to them, the only alternative after the deposit is to pray for the ROI. Trading is better, you can deposit the $3000 in an exchange and start trying some Altcoins. You won't lose all your money at once, surely will have some losses if you aren't skilled on it, but you will have chances to recover it.

Cloud mining would not consider as trusted schemes anywhere. It is only look like a scam attempt or Ponzi schemes. However, I have went through article and Google search about Genesis mining.
It seems good to start mining for bitcoin, ETH, litecoin and menaro. Hashpower you need with the card or any digital currency options. You need to pay daily maintenance cost as well.

mrcash02

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Between trading and cloud mining I would prefer trading. Cloud mining you need to send all the money to them, the only alternative after the deposit is to pray for the ROI. Trading is better, you can deposit the $3000 in an exchange and start trying some Altcoins. You won't lose all your money at once, surely will have some losses if you aren't skilled on it, but you will have chances to recover it.

sulendra12

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Quote from: sfgdsgdfgh on June 27, 2017, 04:50:31 AM

i think invest 3000$ in genesis mining, is big risk?

It's a big risk.

The main point on cloud mining is you should wait to pass your ROI with amount of Hash you have. With $3000, it takes really long time to pass your ROI and SURE you will be bored to waiting this. If you would like to invest that amount, cloud mining is a big NO

cengsuwuei

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#SWGT PRE-SALE IS LIVE

invest in cloud mining is not safe
you must ready if lost youre money, because majority not real mining, is good cloud mining this now hashflare

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Quote from: richardsNY on June 27, 2017, 05:13:31 PM

Quote from: tabas on June 27, 2017, 04:23:53 PM

A lot of newbie ranks are coming out asking and telling, "I want to invest in cloud mining", "Is cloud mining safe?"

I have noticed that too. What I also have noticed is that mining has been booming, and then I am mainly referring to the hype around Ethereum mining. Quite some people on YouTube have been heavily exaggerating how profitable it is to mine Ethereum with GPU's. Easy alternative for buying powerful GPU's, and seeing your electricity bill shoot up massively, is cloud mining. It is basically a passive form of income, which makes them exempt from any of the potential annoyances that people experience when they mine through GPU's. However, these rookies don't understand that it is a waste of time and money....

That's why they are choosing to invest in cloud mining because they are just investing and gain a free profit and other forums they are still promoting cloud mining that actually not profitable..
Like you said GPU mining is a great as alternative in cloud mining and you are mining with your own pc or mine altcoin in vps..
People are always choose to gain profit easily free without working.

richardsNY

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Quote from: tabas on June 27, 2017, 04:23:53 PM

A lot of newbie ranks are coming out asking and telling, "I want to invest in cloud mining", "Is cloud mining safe?"

I have noticed that too. What I also have noticed is that mining has been booming, and then I am mainly referring to the hype around Ethereum mining. Quite some people on YouTube have been heavily exaggerating how profitable it is to mine Ethereum with GPU's. Easy alternative for buying powerful GPU's, and seeing your electricity bill shoot up massively, is cloud mining. It is basically a passive form of income, which makes them exempt from any of the potential annoyances that people experience when they mine through GPU's. However, these rookies don't understand that it is a waste of time and money....

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Quote from: sfgdsgdfgh on June 27, 2017, 04:50:31 AM

im targeting genesis mining, what do you advice me ?

i think invest 3000$ in genesis mining, is big risk?

i know, that there is trading system and maybe i will lost my 3000$ ;

what is risk ? and what can you advice me ? Lips sealed

3000 dollars is a big amount to give to some other persons to manage the so called cloud mining for you. I think you need to read more and you can find a better way to invest that money. Mining with graphic cards is going down in profitability lately I will not suggest you to go and build a computer for mining altcoins. I think the best you can do is buy bitcoins with that amount and hold, you can buy about 1.25 bitcoin with that amount. With genesis mining you don't know if you will ever get your money back or not. Just hold this amount in your wallet.

Topic: i want invest money in cloud mining - page 2. (Read 2009 times)