Post
Topic
Board Mining (Altcoins)
Re: Are they legit?
by
DrG
on 27/05/2014, 11:30:40 UTC
I am a newcomer and i think trading is a risky option for newcomer like me. So, i think mining is the best way to earn Bitcion. .I have found a post in this forum on BTC mining, where www.genesis-mining.com is offering to start mining from 0.14 usd kh/s per year. How are they offering such a low price? Are they legit?
Here is the link of that thread: https://bitcointalk.org/index.php?topic=602022.0


What exactly do you mean "earn".  The people earning Bitcoins are the ones selling their goods and services in exchange for Bitcoin.  In the case of miners, they are being paid a processing fee for processing transactions, and they also get the subsidized block reward.

The cheapest way to acquire coins is to just buy them.  Mining and virtual mining are all losing proposition currently (you will guaranteed end up with less coins than had you bought coins directly).  Mining is good if you want to support the network or just find mining fun.