Quote from: Bitcoincy on October 29, 2017, 04:42:11 PM

I saw a YouTube video of someone using this site - https://www.genesis-mining.com

Then I thought it looked easy and fun. But I have never heard of this Cloud Mining, thing.
I know of big supercomputers to thousands and thousands of dollars, for mining cryptocurrency.
Or a very slow and "useless" process on your own laptop computer.

Is this legit? Is it worth it? Anyone here with a Genesis or any other similiar provider experience?

Pros and cons, etc... ?

No cloud mining site will ever be termed as legit genesis mining has a shady past in terms of btc mining and other issues. People still invest no doubt about that but always invest what you can afford to lose.

Quote from: mjglqw on October 30, 2017, 02:55:15 AM

Genesis Mining seems legit for now, as I've found good proof that they actually have a sort of like a GPU farm on a huge warehouse and not just make money through schemes like HYIPs. The only question is, is it profitable? I personally don't think so. The only reason you see YouTubers shill GenesisMining is just so you use their referral link.

If you really like to make money through mining, buy some good GPUs and or ASIC miners.

Another misconception do you have any proof that they actually have a huge farm you are just repeating what they have showed you. About profitability I'm not sure about btc mining but i did buy hashpower for alt mining and made 2x my investment till now (because price of alt increased).

Quote from: pinkflower on October 30, 2017, 03:52:39 AM

Quote from: Fidemoga on October 30, 2017, 12:27:01 AM

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.

Exactly they are most likely running a ponzi scheme you never know getting profit is assured from their site but 1 year just to get roi seems really high and not worth it.