Anyone else who's cloud mining with Genesis-mining.com...

Anyone else who's cloud mining with Genesis-mining.com? I'm recieving 3 dash monthly with my contract that runs for 2 years. Sitting pretty comfy. All the DASH mining contracts are out of stock though, so you can only mine BTC and ETH for now :) However it's very profiitable. Already broke even, started in December. It's all just profit from now :D Considering to mine ETH now though... Very profitable..
You can get 3% off any contract with the following discount code btw: k3QVrF

I do HOLD coins though.. I doubled my money on Golem and put some the profits into Genesis just for fun

Other urls found in this thread:

mycryptobuddy.com/EthereumMiningCalculator
twitter.com/SFWRedditVideos

Everyone says it is no longer profitable so I don't know. Seems too good to be true. As in how much leverage could subscribers really give them that they can't get themselves through mining?

I'd like to support them because I don't like the monopoly of the Chinese miners but if it ain't profitable it ain't profitable.

Any anons able to give me a very sober assessment of cloud mining?

It's not profitable for anything more than the first 4-5 months.

It's a clever scheme, to lure people in, but really, do you think the owners of these setups would sell you their hashrates to make you money? If the mining was worth more than they were selling it for, they would be morons. They are not.

So the first 4-5 months have a profitable rate that lowers as you reach the break even point?

I understand it doesn't make sense in that regard but if you think of them using the leverage of the money to buy more and more equipment to compete with Chinese miners it makes some sense.

Talk yourself into it, but remember my words when you calculate all you have put in and what you have in your pocket.

Seconding what this user said.

Hey blowhard: I ain't talking myself into nothing. I am simply curious. Let me guess you got burned by Genesis before.

>Let me guess you got burned by Genesis before.
Nope, I'm just not their target market. I'm not so bad at math.

Go take a look at the bitcointalk forums. GM is a scam. OP is just shilling for people to use his code.

Enjoy ROI: never.
It's a scam.
Read the reviews. If those people can't convince you to stay away from "cloud mining", then nobody can.

I started mining yesterday on Nicehash. I bought my rig 2 and 1/2 years ago and my GPU puts out 33Mh/s on Dagger. I am estimated to make $6.40 a day.


I amortized the cost of my rig over 2 years ago. This thing isn't worth anything to me anymore and ive been considering building a new one. The fact that I can run it 24/7 and get a pretty decent couple of dollars is enough to lure me in.

At the most it'll pay for groceries on a monthly basis. At the least? It'll pay for gas on a monthly basis.

I hope you all know genesis mining is in the process of being bought by an American company. I had to pay for this information because I bought stocks of the company that's going to buy it.
Make sure you have a copy of the terms and conditions.. when it changes hands accounts will be closed and partially refunded based on how much you received. If you've earned more then your initial investment, it'll just get closed.
Tread lightly with them until the end of summer... no I'm not baby sitting you and telling you what company is going to buy it, do some fucking research yourself.

>. If you've earned more then your initial investment, it'll just get closed.
Which is nobody ever.

I already broke even dude... Took about 6 months... But it's all profit from here.. And I'm not even one of the big guys on Genesis.. There are people making 1 DASH daily, heck, even 5 dash daily...
I like it, because it's a nice flow of passive income, which I'm currently using to buy ARK while it's low in price :).
I don't give a fuck if you join Genesis, but I sure love my daily payouts... Peace

I'm mining with 500 MH/S.. The difficulty has increased since I purchased the DASH contract.. However here you can see my daily payouts :D

I'm making around $13-17 daily... And will be doing so for the next 1½ years, without doing anything..

Genesis has been around since more than 3 years... It's here to stay ;)

Due to my calculations, I'll make 4x my money guaranteed... Probably 10x my money as the pricec of DASH increases...
I thought it was too good to be true as well... But here I am, still getting my payments.. Loving it! More free ARK for me :D (As I'm converting it gradually)

>it's a great source of passive income!
>p-please use my referral code, I need money

really....using the scam meme on biz again

Genesis mining is not a scam. The question is, is it worth it to put your money towards mining, or trade with it. The problem with mining isn't that its not profitable, but that it has a 4-5 month period before you see actual profit. Thats a long time for you to wait, especially in crypto. Mining sounds good with the "passive income" meme, but when you actually look at the numbers, its not that impressive.

I think there are other mining operations that offer better bang for your buck too.

Genesis is one of the only legit cloud mining websites around.. Been using it for more than a year.. Make around $80 per day bitcoin mining. Not bad really

You do need a big mining contract to pull these numbers though.. I'm investing 30% of my daily income back into it, to grow my daily income

Good source of passive income indeed, Glad I got a small Dash mining contract before they sold out!

How much am I gonna earn if I choose to mine with 30 mh ETH mining? Anyone know?

About 175$ a month

It's not a scam but buy coin and hold will net you way more then any mining contract.

Mining contracts give you the illusion of "passive" income, but its really just an illusion...sort of. The issue is the difficulty increase. You need to find a calculator that takes that into account.

mycryptobuddy.com/EthereumMiningCalculator

If we use the "dynamic graph" it will take the projected difficulty increase into consideration in your forecast.

mycryptobuddy.com/EthereumMiningCalculator

So, it costs $14,000 for 500MH for Ether mining (Ether mining is considered the most profitable) for 2 years.

In a 2 year time span, we can project with the rate of difficulty increase, that you will mine a total of 47 ethers. "Profits at this difficulty" is deceiving because it doesnt take into account the difficulty increase. You must look at the chart.

We can only assume that the price of an ether stays the same; we have no idea how much it will cost later.

47 x $350 = $16,250. That's barely a 20% ROI! In a 2 YEAR timespan.

You are essentially gambling on several factors:

1) That the price of Ether and the Ether token itself will still be relevant, and/or more relevant and thuis higher in price

2) That the mining company is still going to be around in 2 years. Or even 1 year in Hashflare's case

See, once again mining is deceptive. Mining is really only profitable for the average joe if you find a coin that suddenly jumps up in value with a low mining and difficulty. You might as well pound sand. And its especially deceptive because for the first few months of your mining contract you are going to see good revenue, but as the months go on it will decrease. For those who are not particularly savvy with finances, they might think they are making bank, but in reality they are barely making anything extra.

Unless you have a $50,0000+ investment fund ,mining just isn't worth it.