Quote from: SvenBomvolen on January 01, 2017, 01:01:55 PM

Quote from: shinratensei_ on January 01, 2017, 07:12:40 AM

Quote from: Bitcoin_BOy$ on December 31, 2016, 03:01:11 PM

Hello everyone,

I want to invest in Genesis-Mining, I want to buy 15 TH/s (power of Bitmain S9)
can anyone give me details of my profit from this ?

Regards,

Bitcoin Boy.

At least you "MUST" read this, the honest review by the merkle.

http://themerkle.com/genesis-mining-review/

That already tells a lot for us. You can underline the conclusion has made by him at the contract correction. It doesn't matter legit or not, but the shady contract has made it looks like silly site.

"crazyivan from bitcointalk described genesis-mining best:

Its not a scam in a classic way where they will run away with your money, no, they re 100% legit and they will provide everything they state. The only problem is one cannot make money, their products re simply that bad. By investing in genesis-mining all you do is provide them an interest free loan for them to expand their farms and that is all."

CrazyIvan from bitcointalk gave us good explanation what is going on in genesis mining company. I never tried investing in online mining sites, after I saw here what kind of experience people from here have on this sites, I said to myself that I will not try that ever.
More I read about them, more sure I`m in my decision about them. I will not give them my hard earned money just like that, and to wait all my life them to return that same money too me. CrazyIvan described them, they cannot make money, they are just collecting money from everyone. I dont understand how they survived so much, who are the people that invest in this sites and wait for ROI that will never come.

It may not be a scam in a classic way but most of them sure are run like classic ponzi schemes. What kind of business that needs new money from new customers coming in to pay off the current ones?

So its good to advice everyone to stay clear from cloud mining contracts. Its better to invest directly in BTC.