Quote from: crazyivan on March 31, 2016, 06:19:02 AM

Quote from: Salmen on March 30, 2016, 08:32:47 PM

Quote from: bapparabi on March 30, 2016, 04:25:08 PM

Quote from: GeorgeAurea on March 30, 2016, 04:19:25 PM

Quote from: bapparabi on March 30, 2016, 02:54:26 PM

Quote from: GeorgeAurea on March 30, 2016, 11:10:23 AM

Quote from: BTCforJoe on March 30, 2016, 03:41:45 AM

Damn. This just put shit into perspective for me. Kind of wish I would have read something like this before I bought my hashrate from hashflare...

@GeorgeAurea, how do you feel about Genesis Mining?

Quote from: bapparabi on March 30, 2016, 04:25:51 AM

yes but if you can see there have many video and conference attended and also gone in many bitcoin con ..in live ..then how can be genesis is ponzy ..not sure still but they have quite huge many users ..

hope not they are in the list of ponzy

Having many users does not equal making something legit.

Regarding Genesis Mining, I doubt they being legit as well. Just ask yourself:
1) Why a company full of mining experts, doesn't have their own simple (verifiable) pool.
2) Regarding their multipool, which "requires deep knowledge about the mining process, switching costs and makes use of advanced portfolio theory" and "...while the algorithms are doing all the number crunching to maximize your profit" (according to their FAQ). Why, when having so much alleged equipment, use other pools; and thus missing out on all the mining fees.
3) Quote from GM, regarding their alleged datacenters: "The others are not shown because customer protection and security are a high priority for us". So, instead of using their own controllable pool, they're relying on a bunch of third party pools. Which they do not control. Nor will they disclose.

A good thread regarding cloud services: https://bitcointalk.org/index.php?topic=878387.0

So if you can see then there are all cloud mining company are ponzy ..they one day collapse ..some soon and some late ..but all will do stop ..so there are not reliable company right now ..is that correct

No. I only pointed out that Hashflare isn't actually hashing, at least not regarding the SHA-256 algorithm, and that I have my doubts about Genesis Mining. Hashnest is legit for example.

okk ..got your point ..hope Hashnest will not come in to ponzy highlight ..

I don't believe Hashnest is a ponzi. I used Hashnest since 2014 where many cloud mining collapsed before 2015.
Hashnest offer to redeem miners and show a proof of their miners. Shortly they have launched a pretty trailer, when you visit the home site, called 'From Sand to Bitcoin'.

Hashnest s legit 100% but they re not profitable, you simply cannot reach ROI and make some money. So what good is they re legit.

then there is big problem because we can't invest in cloud mining now as some are not profitable and some are not legit