Genesis Mining

>>2764840
I've been doing it for a few weeks now. My BTC payouts have been stable, but my other contracts are going down a little. Unless you are going to get massive contracts it would be better to just buy whatever coins you want.

gwpAO6

>>2764901
It'll take a year to get your money back regardless of how much money you put in. With $1k you'll be making $110 per month. With $100k you'll be making $11k per month, at current BTC prices.

I don't know why it seems so attractive to me. Even if it takes me a whole year of reinvesting my earnings just to be able to get a return of my investment in 4 months after that.. The thought of receiving a stable "salary" after ~ a year and a half sounds good.

I don't know how long this will last, though. BTC mining will become more and more difficult and who knows if these guys won't decide to close shop and run away with my shekels before that year and a half.

Unless BTC triples or quadruples within a year, this is gonna be a long-term investment.

>>2764963
Someone's got to do the mining. If you got the cash go for it.

>>2764840
The house always gets paid first. Remember that. No matter how well or badly your chosen coins are doing. They win no matter what. As for you, you win if your coin remains stable or grows. The mining doesn't take into account the wild market swings. Say you started mining BTC at 3000$, and it's now at 2400, your expected break-even date isn't even just 1 year away, it's even longer due to the drastic lowering in prices compared to the relatively stable and growing mining difficulty of BTC.

Someone, correct me if I'm wrong, but the way I understand this, cloud mining is only profitable if what you are mining increases in value as you mine it. If it's stagnant, you basically just break even, and if it drops, you're looking at net losses, unless you hold your coins and wait for prices to increase again.

Given, it's wiser to just mine and hold, I guess, but a lot of people are looking at it as a source of income, selling mined coins every month or so?

>>2765032
>>2765086
I'm expecting BTC to grow. If I invest $2.5k in this now and BTC remains at the $2k - $2.5k range or grows, I'll be making twice the average salary in my shithole every month in mid-to-late 2018.

Maybe it is too good to be true.

>>2765143
What about 1. August? Have the sites even mentioned how they will be handling the possible fork?

>>2765200
This is my biggest concern. I just read this today: https://fs.bitcoinmagazine.com/assets/exchange_handling_of_contentious_hard_fork_event.pdf

Apparently the main exchanges are going to list Bitcoin Unlimited as well.

The problem with mining is that you'd better buy hash power with BTC while it's still high. Who knows how low this fork thing will send the BTC price.

>>2764840
A very fascinating and elaborate Ponzi scheme. It looks very legitimate with it's hashrates and prices and such, just like HashOcean looked legit. The fact that the devs never show their faces and they don't have an independent auditor proves that something here isn't kosher.

They'll make their exit soon enough. One day the site will go offline without explanation, and eventually people will realize they took the money and ran. Lol do you stupid people really think they take your money and quickly buy and install more miners? Jesus Christ just build your own goddamn mining rig and have the control of exactly what to mine and when, and not have your money in the hands of some Jew.

>>2765229
https://www.youtube.com/watch?v=CHRVFmaJDV8

But.. It looks legitimate, there's videos and pictures of the facility in Iceland.

S-surely they won't trick us and run away with our money?