Topic: What can I expect from this Genesis Mining Contract? Worth it or Nope? (Read 307 times)

I receive daily payouts of ZEC from Genesis Mining and have done since I switched to it over a month ago so yeh not sure why others are saying its scam... I too only put $100 in and I can pick and choose which coins I want to focus my hash power on. The return is not as great as a quick trade turnover, but I look at it like a low interest bearing account. I do nothing to receive the coins. Granted I could have just bought them outright, but wheres the fun in that. Also, the fee you pay up front is all there is with Genesis.

I also run my own miners and they can return a much higher profit amount - but I have to manage all the hardware and believe me, its like a stab in the eye when you return home to find half of them are offline. It would have been easier for me to have put that money into cloud mining and just forget about it. But I really wanted to have a play with my own equipment lol.

Now for others who say it doesn't return compared to trading. This is true. Trading isn't guaranteed though and where some people can buy and sell at the good times not everyone can make it work. Like those who don't trust cloud miners as they feel they are scams I kind of have similar bad feelings regarding the security and the ease of use of the trading platforms. But its only my ignorance here as i havent had time to fully explore them yet and my eyes are continually seeing only negative posts. Yobit looked like a nice straight forward platform though and a lot easier to navigate than EtherDelta at first glance.

Its good to hear other people's experiences on things - but its always nicer to be able to experience something for yourself. So I will give trading more of a look too.

But if you are looking to make the biggest return you should probably look at the trading option over cloud mining as the payback period is months, versus potentially repaying yourself overnight with trading if you pick the right coins.

Dont mind on that thing better to invest into other venture than on putting money on cloud mining no matter who contract you would get you wont really be profitable and 2 years contract wont really be sufficient for you to reach up roi and you would end up on losing money than on earning on 2 years time. Minding that mining difficulty is rising overtime which would end up for you not to gain profits. Its much better to invest on trading and you can still possible to gain profits its still risky but much better on cloud mining.

I strongly advice you to stay far away from mining contracts as you would come up with only loss if not followed right decision.
Can't take name of website but i have a friend running similar platform, that's why i know better about these fake contracts.
Either you talk on genesis or any other trusted mining platform, they actually have no hardwares to make their clients profit

Please don't invest in cloud mining, you will probably lose money.
If you have money to buy gpu's than you should do it.
Mine with your own hardware it is much more profitable than renting someone else's hardware with their rules and limited contracts.

This should be in service discussion, Either move it there or I'll report you Bottom left side of the page you could find the move this thread button. Now on topic about you being a shill for bitconnect, That sh*t is a centralized ponzi program and you should stay away especially if you are a poor fellow with a hundred bucks. Buy dash mining contract from genesis mining, You would have better chances.

Alright then, What Should I do with the 100 bucks then? In my country theres no Way i can save up more money thats all I got and I dont want to lose but I also want to increase it
What about Bitconnect? Worth it?

Dont do cloud mining its not worth it, you would be better off with a small amount to just buy some coins, or if you save up enough to buy a miner.

So the Max I have to pay isnt 30 or 50 bucks? they gonna keep making me pay fees? how big are the fees?
And the main question is still if Itll make the money back.

Better to stay away from cloud mining, they're almost always a scam. Besides it's not very profitable even with an expensive contract, what more with that 100$. The fees would eat out your profit before your contract even ends.

I was thinking on trying the low cost Mining Contracts but I dont know if they are worth it, I dont have much but here are the Contracts I was about to buy:

Ethereum Mining
Small
30 Dollars
1MH/s
2 Years

Or Monero:

Small
50$
60H/s

I dont know if these contracts will even make money and I dont even have much money to begin with, My max is 100$