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RE: Thinking of cloud mining with Genesis? Get your head out of the clouds and READ THIS FIRST!
Great post. Appreciate the brutal honesty.
I learned this lesson the hard way back in 2013 when the Bitcoin manufacturers talked a great game about Gen. 1/2 ASICs. They proceeded to then mostly delivered 'em all too late to their customers to do any good.
My advice to anyone thinking of a mining contract: "Don't. do. it."
Mining is profitable for a very short period of time when the equipment is cheap and the price is just right. I am still profiting on my mining rig, but the time decay is creeping in quickly