Ninjastic
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Re: ▁ ▂ ▄ ▅ ▆ Cloudmining 101 (ponzi risk assessment) ▆ ▅ ▄ ▂ ▁
by
crazyivan
on 29/05/2015, 18:57:23 UTC
Quote from: cryptojumper on May 29, 2015, 03:13:15 PM
Quote from: CodeR70 on May 29, 2015, 03:00:26 PM
Quote from: ToRs on May 29, 2015, 08:34:58 AM
Fb started feeding me ads from this site.. anyone care to share their opinion about this site?

https://www.genesis-mining.com/

AFAIK it's legit. but ROI is over a year.

They have a risk of fractional reserve mining. That means that they might be reselling the same hardware to many different people not only one or selling more hashpower than they have to say in other words.
And they are terribly unprofitable. Why bother - buy from hashnest and have no worries Smiley

+1

I m not worried about them doing fractional reserve mining. If you take a look at their page, the entire team s there, with photos and contacts. They would not be able to run if they would go south. But profitability, that s an issue.