Is Investing in Cloud Mining Still Profitable ?? - page 3.

mrcash02

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Quote from: Ocalebeth on January 04, 2017, 08:15:54 PM

Yes I think that it can still be profitable but that you than should do it with altcoins and not with bitcoins anymore.

If you want to mine Alt Coins make sure to choose one that won't "die" soon. Most Alt Coins are pumped and some time later they die, become worthless and making all those who bought them just lose money for nothing. Alt Coins is a dangerous deal, and mining them isn't too easy. You will still spend electricity and you will still need a powerful machine to do it. It's a good adventure for who wants experience and see how it works.

eckmar

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Quote from: SONG GEET on January 04, 2017, 02:52:42 AM

Genesis mining look legit company or at least till now running smoothly but with increasing mining difficulty no any cloud mining site will be profitable so you may have to wait for lifetime or your contract may stop if it can't pay maintenance cost before you get your investment back.

How are they not scam ? They sell 1 year/lifetime contracts that are designed to be "not more profitable" for them so they will have to terminate them after 2-3 months. That is in my opinion scam just like any other.

Quote from: Ocalebeth on January 04, 2017, 08:15:54 PM

Yes I think that it can still be profitable but that you than should do it with altcoins and not with bitcoins anymore.

Look at cloud mining this way. If for your own right it would take 6 months to ROI, how can they sell hashing power that will ROI quicker when they have to profit from you too ? It's not possible to ROI quicker, or for cloud mining to be more profitable than building rig yourself. Any Mining company that advertise low ROI is SCAM !

Ocalebeth

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Yes I think that it can still be profitable but that you than should do it with altcoins and not with bitcoins anymore.

Wandering Soul~

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Quote from: Josepino on January 04, 2017, 04:53:35 AM

it's supposed that cloud mining is good but not scammed.
it will take you long term to recover your fund (usually 2-3 years) If you buy bitcoin mining shares and the price is at 1,000$ or more
beside that I don't still say about the diff of this coin.
Do not invest money to cloud mining.

Yes back in the days when there are a decent number of cloud mining sites that really pays or legit . Many people gained profit from it but unfortunately, Now is different cause a huge scam sites rose up with different scamming strategies . So take mine and others advice to stay away from all cloud mining stuffs and just look for a different way to earn .

Josepino

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it's supposed that cloud mining is good but not scammed.
it will take you long term to recover your fund (usually 2-3 years) If you buy bitcoin mining shares and the price is at 1,000$ or more
beside that I don't still say about the diff of this coin.
Do not invest money to cloud mining.

shinratensei_

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Quote from: SvenBomvolen on January 01, 2017, 08:01:55 AM

Quote from: shinratensei_ on January 01, 2017, 02:12:40 AM

Quote from: Bitcoin_BOy$ on December 31, 2016, 10:01:11 AM

Hello everyone,

I want to invest in Genesis-Mining, I want to buy 15 TH/s (power of Bitmain S9)
can anyone give me details of my profit from this ?

Regards,

Bitcoin Boy.

At least you "MUST" read this, the honest review by the merkle.

http://themerkle.com/genesis-mining-review/

That already tells a lot for us. You can underline the conclusion has made by him at the contract correction. It doesn't matter legit or not, but the shady contract has made it looks like silly site.

Its not a scam in a classic way where they will run away with your money, no, they re 100% legit and they will provide everything they state. The only problem is one cannot make money, their products re simply that bad. By investing in genesis-mining all you do is provide them an interest free loan for them to expand their farms and that is all."

It's like give your profit for them. What is the purpose of putting your money on the cloud mining site?

I believe not in giving him a free loan.
There is no different like buy your bitcoin in exchange site. But the fee will cheaper rather than it. Cheesy

SONG GEET

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Genesis mining look legit company or at least till now running smoothly but with increasing mining difficulty no any cloud mining site will be profitable so you may have to wait for lifetime or your contract may stop if it can't pay maintenance cost before you get your investment back.

audaciousbeing

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I had earlier interested in investing in Genesis mining because of the publicity I have seen around as well as the testimonies being circulated until I came across a thread related to them on the forum and from there, I make the conclusions that

1. They are not scam because they been around for a long time.

2. You will have to wait till forever before you ROI and finally

3. Cloud mining will eventually turned to Scam.

mrcash02

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Quote from: mobnepal on January 02, 2017, 05:47:41 AM

Quote from: Bitcoin_BOy$ on December 31, 2016, 10:01:11 AM

Hello everyone,

I want to invest in Genesis-Mining, I want to buy 15 TH/s (power of Bitmain S9)
can anyone give me details of my profit from this ?

It will be profitable if you buy bitmain s9 miner and run it in your home rather than buying 15 TH/s from genesis mining.
Profit with cloud mining? I don't think you will be able to pull out what you have invested in buying those 15 TH/s power within a year or even more than that.

Bitcoin mining is not profitable right now if you can't have very cheap electricity and latest mining hardware.

Lifetime contract on genesis mining will stop if those contracts can't pull out enough bitcoin to pay maintenance fee which can happen within few year if mining difficulty keep on increasing in the same ratio it is pumping right now.

Too many issues, even to mine physically. The cheap electricity is one of the main issues for many people. In my country the electricity is very expensive, for me it would never worth. I don't know about OP, but in my opinion, it's much better to use the money you would use to buy the contract with Genesis or to buy the Asic, to buy BTCs and hold it.

newinbtc

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Web mining is not profitable now . 90% Companies are scam now days and rest 9 % don't pay money and 1% charge maintains fees..
I will Suggest to you do not waste your money in cloud mining better to buy solar powered mining farm to save Electricity bills..

casinobonusgiveaway

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Quote from: Mozdalifa17 on January 02, 2017, 06:29:58 AM

Bitcoin mining is not profitable right now unless you have cheap or semi free electricity with a big farm of miners so i advise you not to go with any cloud mining service right now , if you have enough good asset buy more bitcoins and hold them safe.

Exactly, those cloud minging companies are scams, usually a ponzi sites. We should avoid it, and we need to protect our money.

Mozdalifa17

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TIME and WAVE COINs TO REMEMBER

Bitcoin mining is not profitable right now unless you have cheap or semi free electricity with a big farm of miners so i advise you not to go with any cloud mining service right now , if you have enough good asset buy more bitcoins and hold them safe.

mobnepal

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Quote from: Bitcoin_BOy$ on December 31, 2016, 10:01:11 AM

Hello everyone,

I want to invest in Genesis-Mining, I want to buy 15 TH/s (power of Bitmain S9)
can anyone give me details of my profit from this ?

It will be profitable if you buy bitmain s9 miner and run it in your home rather than buying 15 TH/s from genesis mining.
Profit with cloud mining? I don't think you will be able to pull out what you have invested in buying those 15 TH/s power within a year or even more than that.

Bitcoin mining is not profitable right now if you can't have very cheap electricity and latest mining hardware.

Lifetime contract on genesis mining will stop if those contracts can't pull out enough bitcoin to pay maintenance fee which can happen within few year if mining difficulty keep on increasing in the same ratio it is pumping right now.

carlisle1

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Quote from: Bitcoin_BOy$ on December 31, 2016, 10:01:11 AM

Hello everyone,

I want to invest in Genesis-Mining, I want to buy 15 TH/s (power of Bitmain S9)
can anyone give me details of my profit from this ?

Regards,

Bitcoin Boy.

I haven't tried investing in any cloud mining services especially Genesis-Mining and I don't know how much would be the profit that you'll be able to gain from them but as what some people are saying investing in Genesis-Mining and other cloud mining services is not a profitable source right now and it is impossible to get your ROI even after several months .

pinkflower

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Quote from: SvenBomvolen on January 01, 2017, 08:01:55 AM

Quote from: shinratensei_ on January 01, 2017, 02:12:40 AM

Quote from: Bitcoin_BOy$ on December 31, 2016, 10:01:11 AM

Hello everyone,

I want to invest in Genesis-Mining, I want to buy 15 TH/s (power of Bitmain S9)
can anyone give me details of my profit from this ?

Regards,

Bitcoin Boy.

At least you "MUST" read this, the honest review by the merkle.

http://themerkle.com/genesis-mining-review/

That already tells a lot for us. You can underline the conclusion has made by him at the contract correction. It doesn't matter legit or not, but the shady contract has made it looks like silly site.

"crazyivan from bitcointalk described genesis-mining best:

Its not a scam in a classic way where they will run away with your money, no, they re 100% legit and they will provide everything they state. The only problem is one cannot make money, their products re simply that bad. By investing in genesis-mining all you do is provide them an interest free loan for them to expand their farms and that is all."

CrazyIvan from bitcointalk gave us good explanation what is going on in genesis mining company. I never tried investing in online mining sites, after I saw here what kind of experience people from here have on this sites, I said to myself that I will not try that ever.
More I read about them, more sure I`m in my decision about them. I will not give them my hard earned money just like that, and to wait all my life them to return that same money too me. CrazyIvan described them, they cannot make money, they are just collecting money from everyone. I dont understand how they survived so much, who are the people that invest in this sites and wait for ROI that will never come.

It may not be a scam in a classic way but most of them sure are run like classic ponzi schemes. What kind of business that needs new money from new customers coming in to pay off the current ones?

So its good to advice everyone to stay clear from cloud mining contracts. Its better to invest directly in BTC.

densuj

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Quote from: Bitcoin_BOy$ on December 31, 2016, 10:01:11 AM

Hello everyone,

I want to invest in Genesis-Mining, I want to buy 15 TH/s (power of Bitmain S9)
can anyone give me details of my profit from this ?

Regards,

Bitcoin Boy.

Well actually i am doubt with genesis mining service because they are not transparent about the hardware miners and i don't know who is support the hardware miners,
It is different with hashnest, they are clear be supported by bitmain for the hardware miners.
But everything depend on you, will make investing on genesis mining or not. In my experience cloud mining service is not profitable.

BossMacko

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Investing in a cloud mining is not profitable but instead it will just run with your money. I tried it many times and i got scammed many times never got back any ROI from any of the cloudmining that i invested too. So bro do not try it because it will only waste your time and your money.

coolcoinz

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Quote from: Bitcoin_BOy$ on December 31, 2016, 10:17:16 AM

I just want to know my Monthly payment and Have no interest of how much I'm paying at start because its a lifetime contract

You have a wrong understanding of "lifetime." It's not your life, it's the life of the company! They could be gone next year or in 2 years, but if you believe they are going to keep paying you until your death, you must be living in a dream. Also, don't forget that they can keep paying you 1c per month and you won't be able to sue them!

ArdiPrabowo

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if you choose real mining maybe still profit table , investment in cloud mining
the best cloud mining is now genesis-mining and hasflare but i don't two service i write real mining or not
so if you online investment, cloud mining or another you must ready lost your money
every time can scam

SvenBomvolen

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Quote from: shinratensei_ on January 01, 2017, 02:12:40 AM

Quote from: Bitcoin_BOy$ on December 31, 2016, 10:01:11 AM

Hello everyone,

I want to invest in Genesis-Mining, I want to buy 15 TH/s (power of Bitmain S9)
can anyone give me details of my profit from this ?

Regards,

Bitcoin Boy.

At least you "MUST" read this, the honest review by the merkle.

http://themerkle.com/genesis-mining-review/

That already tells a lot for us. You can underline the conclusion has made by him at the contract correction. It doesn't matter legit or not, but the shady contract has made it looks like silly site.

"crazyivan from bitcointalk described genesis-mining best:

Its not a scam in a classic way where they will run away with your money, no, they re 100% legit and they will provide everything they state. The only problem is one cannot make money, their products re simply that bad. By investing in genesis-mining all you do is provide them an interest free loan for them to expand their farms and that is all."

CrazyIvan from bitcointalk gave us good explanation what is going on in genesis mining company. I never tried investing in online mining sites, after I saw here what kind of experience people from here have on this sites, I said to myself that I will not try that ever.
More I read about them, more sure I`m in my decision about them. I will not give them my hard earned money just like that, and to wait all my life them to return that same money too me. CrazyIvan described them, they cannot make money, they are just collecting money from everyone. I dont understand how they survived so much, who are the people that invest in this sites and wait for ROI that will never come.

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