Bitconnect.co ==>> VS. <<== Genesis-Mining // 72 DAYs Later!! [crypto-world]
This is another post in a series of posts regarding the services of both of these companies. I will list all the links here for those that are new to follow. Hopefully this will help you understand a little more of how both of these services work and how I have so far fared since starting to use their services.
I understand that these are sensitive subjects for many here on Steemit. Some consider Bitconnect and even Genesis-mining as scams and flag posts that concern these subjects. Hopefully this comparison is allowed to remain unflagged so that the crypto-world has a chance to learn about Bitconnect and Genesis-mining and ultimately Decide For Themselves whether this is for them or not. At this point, both companies have met their obligations and Bitconnect has even gone the extra mile and credited Bitcoin Cash WITHOUT being forced too do so unlike some of more respectable exchanges.
I Am an Official Bitcoin Miner Again - My first payout as a cloud miner
Official Bitcoin Miner - A few Things I learned about Bitcoin cloud mining
Crypto-currency Mining Checklist Part 1
Crypto-currency Mining Checklist Part 2
Mining Bitcoin and other Crypto Coins
To Ponzi or Not To Ponzi - A look into Bitconnect
To Ponzi or Not To Ponzi Part 2
To Ponzi or Not To Ponzi - A reply - This was a response to my two articles on Bitconnect by @jetiknight - A Must Read !!
Time to Go Mining & Some Results
Bitconnect - The Review After 28 Days - Here I explain my results after 28 days investing with Bitconnect
Bitcoin Forked & Bitconnect Did Not Runaway
Herbalife - The Big Bad Wolf That Wasn't- This one is off tangent But it is a Fine example of Calling out SCAM and Ponzi, and then Losing.
Well if you are still reading this after having read all the posts above, then I won't bore you too much more with this post. I will keep it brief, short and to the point. If you have any questions or concerns, please let me know.
Genesis Mining - I started mining on June 9, 2017. As of today I have received 40.8% of my initial investment since I started. I have been fortunate that a few of you have used my referral code for Genesis-mining. By using my referral a 3% discount is applied, and I received a small bonus which has also helped with recouping my investment. I am a little disappointed with Genesis-mining but then again, it is something I somewhat expected. The Bitcoin mining difficulty continues to increase making it harder to "mine" for Bitcoin, so my returns should slow down or decrease more and more as time goes on.
I started with Bitconnect 7 days later on June 16, 2017. I am pleased with the results of Bitconnect So Far. I say so far because I have not yet fully recouped my initial investment. I have received 60% of my initial investment as of today. I measure my investment in Bitcoin and not the Dollar price of Bitcoin. BUT what I am leaving out is that I had actually received 50% of my Bitcoin investment on July 17, 2017 and I could not help myself and I re-invested all of it with Bitconnect again. This has increased both my daily payments as well as the amount I will receive at the end of the investment period. Another disclosure is that I have had a few of you sign up under my referral code for Bitconnect, and that has helped with my returns as well.
So if you were to ask me which one of these two do i prefer, my opinion would be to go with Bitconnect. Genesis-mining has had some recent issues recently, But they continue to honor their obligations and seem to be overcoming whatever systems issues they had. Bitconnect has obviously won the returns race but they have also remained very stable as a system since I joined. There have been a few times where I could not logon but for the most part they have been very reliable. But also Bitconnect offers more. They have the Bitconnect coin which can be mined, as well as receive a stake through Proof of Stake. The Bitconnect coin has done extemely well since I joined, jumping up over 100% in value. Also, the Bitconnect company just had a major meet-up in Thailand with many of the investors in Bitconnect. And as promised, their travel expenses were covered, and those lucky investors were taken behind some of the scenes of Bitconnect. There are some exciting things coming up for the Bitconnect Community that will take Bitconnect to another LEVEL. Stay Tuned!!
Full Steem Ahead!
08/21/2017
@streetstyle
So You Want To Mine Bitcoin?
Code rT5ix8 =3% off + Bonus in STEEM!
I provide the bonus STEEM
Bitconnect Referral Link IF You Want To Join
also comes with a STEEM Bonus from Streetstyle
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Good article on Bitconnect vs Genesis-mining . It's true some consider them as scams, but it's interesting to learn more about them. Resteemed.
Thanks @steem-on
I am also invested in both.
But joined Bitconnect just recently. I am still not sure if it is a scam or not, so far they are paying and the thing which made me consider so long was "it is too good to be true"and the lack of information they provide about their bot.
So far they are paying out and I only reinvest a small amount each day and get the most part out of the system.
Genesis is starting to piss me off. I recieve Dash and BTC but XMR and ETH I am still missing a lot of payout, especially XMR.
ETH also they listed payments which I never recieved and actually were never send. Their Facebooksite is not allowing any comments and no reply to any tickets.
Well we will see since 2 currencies are still paid out I think they will honor their promises but an update what is going on would be nice.
Thanks for the comment @flipstar I am now following too!
happy to hear that
Waiting to see when your investments come back. I have a cloud mining contract at HF but I can see my return within maybe half a year or so. Thanks for the info
Thanks for the input @coinkingz
The scary thing with these for example, I bought XY contract, it gave back example 8 units every day. It slowly dropped to 7 within 2 weeks, I reinvested for +10%, and the hashrate kept dropping, now paying 3.5 units. Even the BTC price went up, the payout looks less and less. So I wonder if it will reach break even or just going down, down, down.
The difficulty mostly increases every two weeks, so profits will drop as well. Fortunately it looks like in the next couple of days the difficulty will actually be going down quite a bit which will help with profitability. But at this point I am more sure of reach break even with Bitconnect, and it looks less and less likely with Genesis, but still too early to tell. Maybe in a month or two I will have a better idea on Genesis. By then Bitconnect should be at least break even. We shall see!
The same here. I started 2 months ago, so by Christmas I will know something :)
Thanks for sharing this useful information!
Really useful information. Thanks man
Thanks @dim753
A useful review for members thinking to join these companies.
Or even if they are not thinking of joining, but at least they can be more informed before SCREAMING OUT SCAM AND PONZI!!
Thanks for stopping by @shirish5
I like bitconnect more =)
Do you got a sponsor?
I do thanks @hansen7
I love your post and a very amazing couple about this version ... congratulations and continued success of friends @streetstyle
Do you really think bit connect is here for long run !!
I think that If they wanted to scam they would have already done it. The market cap on Bitconnect is $754 Million Dollars, so I think that they would have disappeared at $50 Million or $100 million but instead they paid people to travel to Thailand, they gave everyone their Bitcoin Cash if they had Bitcoin, and they have other cool stuff coming real soon!!
If I was to give this an odds percentage, I say I am at 90% sure I receive my investment back, and I do believe that Bitconnect is here to stay. The investing/lending part might change eventually, as the referral program has already been changed. It might not be as lucrative down the road, but that is just my guess. My guess is that eventually the payout rate goes down and/or the referral program gets altered or removed all together. For now I am investing what won't make me cry if I lose it, and as stated in the post, I already have 60% of it back.
Let me know if you have any questions @blazing
Don't you think it would be smarter to compound your growth in BitConnect?
@jordanlindsey I did re-invest once but yes, compounding interesting growth becomes exponential BUT the fear of losing all my investment keeps me from doing so. Instead I have chosen to re-investment upon certain milestones. When I received 50% of my investment, I then took the next days payout and re-invested it. Now that i have reached the 60% marker, I will re-invest today's payout, and then collect another 10% for a total of 70% and re-invest the next days payout. I will do this until receiving 100% of my investment. After that then I will re-evaluate my strategy for possibly better returns on bitconnect, plus there are some very interesting business deals coming soon for Bitconnect that will make the BCC coin worth Staking more than what it is now!!
Please let me know more about what is in store to make staking even more attractive. I think BitConnect has through 2019 at least because of Proof of Stake alone. My game plan is to reinvest and grow until I reach 10k and then withdraw interest 100-120 days until I pull out 10k. Reinvest again until 20k and once again withdraw daily for 100-120 days and pull out 20k. Etc.
@jordanlindsey I believe one of the changes will be that if you have BCC coin in your Bitconnect wallet long enough, will be included in PoS. Currently, you must have BCC coin in your personal wallet in order to receive PoS.
And there are other changes/improvements to the BCC exchange coming also, plus a few other cool things in the works.