Quote from: ibhes on November 14, 2017, 01:41:54 AM

best bitcoin mining site?

Guys PLEASE READ THIS before investing your MONEY at GENESIS MINING

" Guys PLEASE READ THIS before investing your MONEY at GENESIS MINING
This is simple MATH!! 10 years old child can understand this!
In this experiment, I will pay 105 $(0.105974 BTC) for 700 GH/s
GENESIS MINING will charge you FEES (Guys please read the Agreement http://imgur.com/a/CRNdl ):
a. 0.150 $ per GH/s upfront = 0.000150313 BTC * 700 GH/s = 0.1052191 BTC upfront fee
b. 0.00028 $ per GH/s a day = 0.000000280824 BTC * 700 GH/s = 0.0001965768 BTC A DAY fee (0.071750532 BTC a year)
Now to calculate the profit is very simple, BTC mined in a year minus you cost/investment and the sum of fees.
700GH/s will generate ≈ 0.1554 BTC a year.
BTC Profit first year= 0.1554 earning - (0.1052191 + 0.071750532) fees - 0.105974 cost = - 0.127543632 BTC (-127.79 $) ROI of negative -27%
You invested 100 $ in GENESIS MINING after a year you LOST 100 $ and you OWE them 27 $. Their system is designed to keep you buying more Hash Power in the hope of making a ROI in a distant future.
More Hash power= more daily fees = less profitable Bitcoin earnings.
In the second year, you wont pay the Upfront fee, but if the daily fee stay the same, you wont make any profit form the Bitcoin mined, because of the difficulty increase over time, in the end your daily fees will overcome the Bitcoin mined, the following will happen, and your account will be terminated in 20 days.
" if, on any day, Coins generated on one day do not suffice to pay item 2 of the Fee above, the Service Provider may use Coins generated on any day thereafter for such payment."
I wont consider this a SCAM because it's written in the Agreement, If you have already invested please stop the bleeding and use you money for better good.
The conversion rate (1 BTC = 990.811 $) and BTC mining rewards (12.5 BTC) are calculated on 2/13/2017
*edits: I improved the formating, The second year paragraph added, ROI of negative -27% "

investing in cloud mining is waste of time and money, If you have so much money to make a donation to cloud mining then go ahead, but then do not come to say that you were stolen

Quote from: felicita on November 16, 2017, 05:30:31 PM

its legit for me becourse i got my ROI there i have bitcoin contracts since more than 2 years now .

I read some people who invested 2 years ago say they have their profits, but I also read stories of people who invested a lot of time and lost money, this is a bad investment