Panning to Invest in Genesis Mining, What You Say?

praprata

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Quote from: Daffadile on September 10, 2016, 09:43:24 AM

Honestly yo just should get involved in some altcoin projects and try get in soon and invest there. Or stake some altcoins on poswallet that way you don't have to worry if the mining is real or not or if they going to scam you or not. Yes the altcoin price changes but so does the mining difficulty.

It may be good to invest in an altcoin rather the cloud mining. But 1 thing is clear investing in cloud mining, especially with genesis mining will not get you any income.
The company is just not reliable nor offer they attractive contracts.

Daffadile

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Honestly yo just should get involved in some altcoin projects and try get in soon and invest there. Or stake some altcoins on poswallet that way you don't have to worry if the mining is real or not or if they going to scam you or not. Yes the altcoin price changes but so does the mining difficulty.

ultrloa

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Quote from: Kolder on August 23, 2016, 08:16:55 AM

Quote from: Sharma on August 23, 2016, 05:16:49 AM

Quote from: Dudeperfect on August 10, 2016, 01:42:23 AM

Hi Guys,

I am complete noob in crypto mining and I realized that pc from my office is worthless for mining any coin. Now, I just did some research on cloud mining.

I saw positive as well as negative reviews about cloud mining, especially Genesis Mining. Though I would like to give a try.

What is your view? Should I go with Genesis Mining (if yes then which plans) or any other service? or stay away from it?

Thanks in Advance
Dudeperfect

Although I dont have any experience with genesis mining,I am skeptical about all cloud mining.Invest less and for short term if you want to invest in cloud mining.
I have lost 0.1 btc in one of the ponzi cloud mining Sad

It is true. Cloud mining is also a form of ponzi. If they are really have a mining company. Why they need many investor if they can afford to buy it using the profit of their miners. It is better to setup your mining rig than investing it to not safe cloud mining.

Maybe the used to join on that scheme now since they already know that their equipments is not profitable as the years come and people should really think twice before investing on those because there so many people claiming that they didn't get their roi, so a big possibilities also it will happen to people who really insist to invest a new one on genisis mining, so better be away on those sites its because cloudmining industry are down nowadays.

Indrawan77

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Well i personally thinks dont do it because even though Genesis mining has a quite ok reputation in cloud mining, but eventually it will turn to scam, and the return of profit is quite long, i suggest you to just invest in other place, dont invest in cloud mining ponzi or hyip, even though sometimes the profit is irresistible but most of it is a scam, so beware

Kolder

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Quote from: Sharma on August 23, 2016, 05:16:49 AM

Quote from: Dudeperfect on August 10, 2016, 01:42:23 AM

Hi Guys,

I am complete noob in crypto mining and I realized that pc from my office is worthless for mining any coin. Now, I just did some research on cloud mining.

I saw positive as well as negative reviews about cloud mining, especially Genesis Mining. Though I would like to give a try.

What is your view? Should I go with Genesis Mining (if yes then which plans) or any other service? or stay away from it?

Thanks in Advance
Dudeperfect

Although I dont have any experience with genesis mining,I am skeptical about all cloud mining.Invest less and for short term if you want to invest in cloud mining.
I have lost 0.1 btc in one of the ponzi cloud mining Sad

It is true. Cloud mining is also a form of ponzi. If they are really have a mining company. Why they need many investor if they can afford to buy it using the profit of their miners. It is better to setup your mining rig than investing it to not safe cloud mining.

darklus123

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Well i am really not a fan of any cloud mining site. Genesis is one of the biggest mining in this industry, getting your ROI is really not that easy when you invest to them. They maybe a scam or not the only thing right now is that they didnt quit during halving not like other cloud mining sites.

Sharma

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Quote from: Dudeperfect on August 10, 2016, 01:42:23 AM

Hi Guys,

I am complete noob in crypto mining and I realized that pc from my office is worthless for mining any coin. Now, I just did some research on cloud mining.

I saw positive as well as negative reviews about cloud mining, especially Genesis Mining. Though I would like to give a try.

What is your view? Should I go with Genesis Mining (if yes then which plans) or any other service? or stay away from it?

Thanks in Advance
Dudeperfect

Although I dont have any experience with genesis mining,I am skeptical about all cloud mining.Invest less and for short term if you want to invest in cloud mining.
I have lost 0.1 btc in one of the ponzi cloud mining Sad

shinratensei_

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Quote from: djank on August 19, 2016, 10:08:28 AM

Quote from: Dudeperfect on August 19, 2016, 05:28:02 AM

Hello friends,

Though I have decided to stay away from any investment in cloud mining, I came across the advertisement of hasheer cloud mining service.

I signed up for one week free trial (to understand how it works). I can see I my account is mining at 500 Mhz and mined 0.00011849 BTC so far since past 8 hours.

I have clicked on reinvest (because they want me to buy additional hashrate in order to withdraw mined coins) so my mining hash rate is 500.91 GHS at the moment.

They are claiming 164.06% yearly returns, is it worth purchasing '200 GHS @ 0.032 BTC' ?? in order to withdraw mined coins? or I just enjoy my trial period and forget about it??

You can try free hasheer trial account here through my affiliate link - 500 GHS, One Week Free

Just forget about it, cloud mining is not profitable anymore and mostly they are scammer, read this transcript http://diyhpl.us/wiki/transcripts/2016-july-bitcoin-developers-miners-meeting/cali2016/

Never worthed to purchasing more ghs in the cloud mining site caused by the chance for them is turning into the scam is very high and I think this condition is not giving good possibilities for mining. especially for the cloud mining site too many scammer using cloud mining method.

Dudeperfect

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Actually I am not asking only through but also return of investment point of view. As of now I have no knowledge of mining so I have couple of options, either I should acquire knowledge or focus on other business where I have some experience.

If I am getting good return on investment in other options then there is no point of burning funds in such kind of activity and especially when majority has not good opinion about it.

Anon_7716

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I think cloud mining would only be enough good things in a short time and will not be a good thing for the long term. because I see that cloud mining system wear ponzi or they do not have the means of mining and they only play the funds enter into their site

beerlover

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Not sure about it, since they seem to have quite a reputation for having to answer everyone's question whenever you contact them. I've always seen their advertisement on facebook and I checked their page as well and they seem to be having some quite of a problem, judging from what I see in the comments.

djank

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Quote from: Dudeperfect on August 19, 2016, 05:28:02 AM

Hello friends,

Though I have decided to stay away from any investment in cloud mining, I came across the advertisement of hasheer cloud mining service.

I signed up for one week free trial (to understand how it works). I can see I my account is mining at 500 Mhz and mined 0.00011849 BTC so far since past 8 hours.

I have clicked on reinvest (because they want me to buy additional hashrate in order to withdraw mined coins) so my mining hash rate is 500.91 GHS at the moment.

They are claiming 164.06% yearly returns, is it worth purchasing '200 GHS @ 0.032 BTC' ?? in order to withdraw mined coins? or I just enjoy my trial period and forget about it??

You can try free hasheer trial account here through my affiliate link - 500 GHS, One Week Free

Just forget about it, cloud mining is not profitable anymore and mostly they are scammer, read this transcript http://diyhpl.us/wiki/transcripts/2016-july-bitcoin-developers-miners-meeting/cali2016/

Dudeperfect

hero member

Activity: 1190

Merit: 534

Hello friends,

Though I have decided to stay away from any investment in cloud mining, I came across the advertisement of hasheer cloud mining service.

I signed up for one week free trial (to understand how it works). I can see I my account is mining at 500 Mhz and mined 0.00011849 BTC so far since past 8 hours.

I have clicked on reinvest (because they want me to buy additional hashrate in order to withdraw mined coins) so my mining hash rate is 500.91 GHS at the moment.

They are claiming 164.06% yearly returns, is it worth purchasing '200 GHS @ 0.032 BTC' ?? in order to withdraw mined coins? or I just enjoy my trial period and forget about it??

You can try free hasheer trial account here through my affiliate link - 500 GHS, One Week Free

jak3

legendary

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in 2016 any cloudmining site can not be trusted . all hypes are scam and all cloud mining sites are scam do not invest in them insted go for trading something like altcoin trading or abrigrate trading or whatever you can make 20-25% profit per month with that easly

Pursuer

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Quote from: Dudeperfect on August 10, 2016, 08:08:20 AM

Thank you all. I conclude

Cloud Mining is no more profitable (especially on genesis mining).
Even if they have lifetime contacts we can't make much ROI.
Although there are many Scams in the name of cloud mining, Genesis mining is actually mining but now worth it.
I should either hold my balance in bitcoins or directly trade in return of alternative coins. Mining is not for me (newbie in mining).

Thanks again, now I am planning to hold 75% in bitcoins and rest 25% in Ether.

cloudmining means you give your money to someone else and they hold your bitcoin, only a couple of them have some mining equipment and the rest are just Ponzi. then they either mine or scam with your bitcoins and pay you little by little after deducting fees, maintenance fees, and many other things so it takes a long time to even get your own money back then start making a profit.
and this long period lets them accumulate enough money before running away. like hashnet, and many other hash... names.

ricku

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I guess you mean Planning to Invest in Genesis Mining, What You Say? well the era of cloudmining for profit is over because it will only tied down your funds and be releasing it to you bit by bit for the durations of 6 months or 1 year.

shinratensei_

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Quote from: Dudeperfect on August 10, 2016, 01:42:23 AM

Hi Guys,

I am complete noob in crypto mining and I realized that pc from my office is worthless for mining any coin. Now, I just did some research on cloud mining.

I saw positive as well as negative reviews about cloud mining, especially Genesis Mining. Though I would like to give a try.

What is your view? Should I go with Genesis Mining (if yes then which plans) or any other service? or stay away from it?

Thanks in Advance
Dude perfect

Read this before you're wanna try to invest your money in genesis mining maybe this link will very helpful for you. but I can suggest staying away from them.

https://bitcointalksearch.org/topic/scam-alert-do-not-invest-in-genesis-mining-1185909

Ardenyham

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there are a lot of ways to invest money. and lots of them are really legit. I suggest you to invest your money in legit source instead of investing in any cloudmining sites.
no matter if it is legit and paying. but the bad thing is the ROI in these cloudmining sites are very hard to achieve..

Quote from: shield132 on August 10, 2016, 05:31:38 AM

No, don't invest money in Genesis Mining, stay away from them. This company is scamming people on purpose. They are really mining but also they are still scams. The bad thing is that you can't sell ghs here. If you buy lifetime contract in Genesis Mining, remember that you can't ROI, no one can ROI with the fees they are taking on lifetime contracts.

what? if they are really mining then why they are scamming too? there is no mining in cloudmining sites dude. they work on ponzi hyipe system. get money from investers to pay other investors. and when they get enough trust and enough investments then they run away.

ultrloa

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Quote from: jacee on August 11, 2016, 12:45:45 AM

Quote from: Dudeperfect on August 10, 2016, 01:42:23 AM

Hi Guys,

I am complete noob in crypto mining and I realized that pc from my office is worthless for mining any coin. Now, I just did some research on cloud mining.

I saw positive as well as negative reviews about cloud mining, especially Genesis Mining. Though I would like to give a try.

What is your view? Should I go with Genesis Mining (if yes then which plans) or any other service? or stay away from it?

Thanks in Advance
Dudeperfect

Don't. Genesis mining may be a legitimate bcloudmining but it is no longer worth to invest in it. You will need a lot more inititial money to invest and it will surely take too much time for you to get profit.

Yes very true because Genisis Mining is on Worst Situation now they are on ponzi state of business and the roi will even more longer to achieve while if you invest it to other profitable things well we can allocate more money rather than giving an idea on investing on genisis minings, as i've see they will slowly turning down since every year the difficulty to mine blocks are getting harder and harder so in that case genisis is not a wise choice for putting your money in because your time and effort wel be worthless and high chance for investor to get scam if they collapsed If they are totally failed.

jacee

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Quote from: Dudeperfect on August 10, 2016, 01:42:23 AM

Hi Guys,

I am complete noob in crypto mining and I realized that pc from my office is worthless for mining any coin. Now, I just did some research on cloud mining.

I saw positive as well as negative reviews about cloud mining, especially Genesis Mining. Though I would like to give a try.

What is your view? Should I go with Genesis Mining (if yes then which plans) or any other service? or stay away from it?

Thanks in Advance
Dudeperfect

Don't. Genesis mining may be a legitimate bcloudmining but it is no longer worth to invest in it. You will need a lot more inititial money to invest and it will surely take too much time for you to get profit.

crazyivan

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Do not even think about it, there s no way you will reach ROI. Ask a lot of questions before you actually invest, lots of people willing to help you out here.

feinter

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Genesis Mining looks legit, but as it was mentioned, time for investing in cloud mining is not good. Better check main threads of clouds that you are interested and comments of trusted users about rewards, and then take a decision..

bapparabi

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don't buy right now becase you will get bust coin as i can see or you get hold of quite new hardware which have less maintenance fee then you can get some more coin still not profitable

mobnepal

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No i will just say never invest in cloud mining sites even don't invest in genesis mining as it will take more than year for you to recover your initial investment and also there is no guarantee that genesis will be in operation for more than one year. Non of their mining packages are profitable at the current bitcoin price and their package price.

SyGambler

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Quote from: Dudeperfect on August 10, 2016, 08:08:20 AM

Thank you all. I conclude

Cloud Mining is no more profitable (especially on genesis mining).
Even if they have lifetime contacts we can't make much ROI.
Although there are many Scams in the name of cloud mining, Genesis mining is actually mining but now worth it.
I should either hold my balance in bitcoins or directly trade in return of alternative coins. Mining is not for me (newbie in mining).

Thanks again, now I am planning to hold 75% in bitcoins and rest 25% in Ether.

glad that you have realized that , cause as many said even if Genesis is legit it doesn't worth the try at all
so yeah buying and holding is way better than putting your money in a cloud mining site

feinter

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Investing now in cloud mining is very unprofitable. Better wait 2 - 3 months when Bitcoin price will stabilize a bit and then maybe clouds will be in better condition.. In my opinion, now it is too risky..

jhenfelipe

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Quote from: Dudeperfect on August 10, 2016, 08:08:20 AM

Thank you all. ning).[/li]
[li]Even if they have lifetime contacts we can't make much ROI.[/li]
[li]Although there are many Scams in the name of cloud mining, Genesis mining is actually mining but now worth it.[/li]
[li]I should either hold my balance in bitcoins or directly trade in return of alternative coins. Mining is not for me (newbie in mining).[/li]
[/list]

Thanks again, now I am planning to hold 75% in bitcoins and rest 25% in Ether.

Good luck to your plan, great that you won't spend your money on a cloud mining site (in general, not just Genesis Mining). And btw, since you've already decided, I think it would be better if you lock this thread.

thanks

Dudeperfect

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Activity: 1190

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Thank you all. I conclude

Cloud Mining is no more profitable (especially on genesis mining).
Even if they have lifetime contacts we can't make much ROI.
Although there are many Scams in the name of cloud mining, Genesis mining is actually mining but now worth it.
I should either hold my balance in bitcoins or directly trade in return of alternative coins. Mining is not for me (newbie in mining).

Thanks again, now I am planning to hold 75% in bitcoins and rest 25% in Ether.

Herbert2020

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don't do it!
it is simple you can take a look at the history and see how many other cloudmining services were active in the past during all these years. and you can see how many of those had a good name for themselves and people trusted them. now as you can see all of them have ran away with money.

shield132

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No, don't invest money in Genesis Mining, stay away from them. This company is scamming people on purpose. They are really mining but also they are still scams. The bad thing is that you can't sell ghs here. If you buy lifetime contract in Genesis Mining, remember that you can't ROI, no one can ROI with the fees they are taking on lifetime contracts.

jhenfelipe

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Genesis mining seems to have a good name on Cloud Mining industry (before when I first knew about it, but not sure about it today). I didn't try investing there because I felt like it's hard to get ROI, I mean you'll need to wait so much time and I don't want to risk my money there. There were some threads about Genesis mining here, of course there are both negative and positive feedback. I think it would be better if you read it yourself here and decide what is good for you.

https://bitcointalksearch.org/topic/what-do-you-think-of-genesis-mining-1529913
https://bitcointalksearch.org/topic/genesis-mining-problems-with-payments-1532527
https://bitcointalk.org/index.php?topic=1185909.180
https://bitcointalksearch.org/topic/genesis-minining-is-a-scam-1579556

Dudeperfect

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Hi Guys,

I am complete noob in crypto mining and I realized that pc from my office is worthless for mining any coin. Now, I just did some research on cloud mining.

I saw positive as well as negative reviews about cloud mining, especially Genesis Mining. Though I would like to give a try.

What is your view? Should I go with Genesis Mining (if yes then which plans) or any other service? or stay away from it?

Thanks in Advance
Dudeperfect

Topic: Panning to Invest in Genesis Mining, What You Say? (Read 2073 times)