Quote from: wpcbtc8820 on January 23, 2018, 01:12:54 AM

Ive read alot about cloud mining and have a small eth/zcash/monero contracts with genesis. I was just wondering if anyone could share some experienced info as most of my contracts are only a few months old and I wanna know if its worth expecting much a return... thanks

Quote from: wpcbtc8820 on January 23, 2018, 01:12:54 AM

Ive read alot about cloud mining and have a small eth/zcash/monero contracts with genesis. I was just wondering if anyone could share some experienced info as most of my contracts are only a few months old and I wanna know if its worth expecting much a return... thanks

No, it does not pay. In the sense that it will not make you a long term profit.

I recommend reading this thread first: https://bitcointalk.org/index.php?topic=1185909.0. See the calculations and the discussions going on. A lot of people who say that cloud mining pays are going to be using their affiliate links to earn referral earnings.

There are three types of cloud mining:

1. Outright scam: the site will just scam you out of your money, without providing any returns. Just take your money and run.
2. Ponzi scheme: the site is not actually mining but rather just using cloud mining as a cover. You'll eventually lose your money if you keep reinvesting, which you will be tempted to do.
3. Legit: They are actually mining but charge a hefty maintenance fee every single day. You will not make a profit as the difficulty continues to climb.

If you need ways to earn bitcoins, i would suggest earning a real life income and converting it into btc, or even freelancing for btc jobs.