Quote from: socialengaged on July 11, 2017, 08:24:42 PM

ok, im new here and in genesis mining. i dont really think they are scam, but ive read many forums that says so. I made then calculations (that actually show how non convenient is to invest in cloud mining those days). In genesis I purchase
1mh ether mining 2 years contract, and today i get 0,0003eth = 0,05 usd per day
this means at the end of year 2, i get 36 usd. so 6 usd profit, after TWO years.
Also, there are no really clear clues on how much i spent, and how much im gaining really (%, loss, etc). So this is very unclear report and analytics, which misleads users.
im also an affiliate marketer, and i find more convenient those other affiliations (like CPA).
also, i tried https://demixmine.com/?ref=sM19rc, and it seems MUCH more profitable than genesis mining (i get like 12usd per day with an investment of 300usd in total).
Basically, I spent more investing in genesis mining (cause of all that youtubers out there) then demixmine, but maybe it was worth to invest there all of that money.
One final thought in general about cryptocurrencies and blockchain. As said im a newby. But i see that the problem here (also for mantaining the blockchain) is that things get really expensive (software, gui, electricity etc) VERY SOON. So, my question is, why don't developers allow easier algorithms (security starts at day one, so why not keeping things easier) in order to spend less in mining, and make it more profitable once and for all?
This crazy system will not make crypto live long, in my opinion, just because of the incredible expenses it generates overtime. Just some thoughts.
Thanks Eugenio
PS If genesis mining would answer to that point of the 0,0003 eth per day (meaning 720 days to return the investment) that would be great : ) i know price of the currency can increase, but that, as said from other customers, would mean that is better to invest 30usd today in those coins, than in mining for 2 years. if the price increase, i sell and i get roi even within days or hours, not in TWO YEARS of mining. How mining is profitable, if there are such expenses and investments?
As said, demixmine seems a fair option to me, lets say if they are stable thou.

I recently bought mining contract in genesis too Dash(x11) it's back again, i bought only 10mh 2 year contract. I think i'm gonna get my first payout in 20 days, at the current rate. I think genesis mining is gathering more people thru referrals, most youtuber's are increasing their hashing rate by sharing their referrals CODEs, so we do not need to focus only on the amount invested, we need to invite others too to increase our profit.