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RE: So I'm thinking about joining genesis-mining.

in #bitcoin7 years ago

Put it short: dont.

Prople are advertising and encouraging you to join because the affiliation programme.

Prople say they have earned so much. That's compared with the accountant cost only, but not opportunity cost. Think about it, bitcoin and eth have risen so much recently, even an idiot would have made some money out of it during the last months. They should have conpared with the case that they bought coins with money invested in mining.

Say you have 1000 dollars, you can earn 100 by mining, but 200 by buy and hold. If you mine in this case, you lose 100.

If prices go down, you will lose by either mining or B&H.

You dont even make more money by mining with your own rig, why would you think you could earn more by cloud mining?

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