Post
Topic
Board Service Discussion
Re: Cloud Mining - Legit or not?
by
pinkflower
on 30/10/2017, 03:52:39 UTC
Genesis-mining seems to be legit, the questiin is only, how long. Hashflare was also legit but turned already paid lifetime contracts to one year. I think, you will have more profit, when you keep your Bitcoin and buy some altcoins and keep them. They will continue to rise because if upgoing acceptance.

The only reason why Genesis Mining is still around is because of its size and new monthly inflows of contract buyers. Cloud mining sites and practically mostly all miners are breaking even because of BTC's rising difficulty. If the price of BTC stops going up but the difficulty keeps growing, Genesis Mining will incur losses and might also be forced to change their lifetime contracts to limited annual contracts.

Its better to invest in BTC from my perspective.