Bitconnect and Genesis Mining

in bitconnect •  2 years ago 

Steemit, Bitconnect and Genesis Mining are great forms of passive income. Steemit and bitconnect we have quite a bit of control based on how active we are. I have some concerns regarding the consistency of genesis minining payouts though.

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Theres some other cloud mining companies coming up that seem more reasonable than genesis - like Hashnest

compared to bitconnect, is it more profitable?

No idea, it's a new prospect. I can tell you that it's backed by bitmain, so it'll actually be able to acquire ASIC miners unlike others.

interesting

I used to get payouts every three days but since they raised the bar more like once a month lol

yeah totally agree

Genesis mining is NOT profitable. The only way to make cloud mining services like bitconnect and genesis profitable is by whoring out your referral links. That is THE only way to make these contracts or any cloud mining setup profitable.

For $3340CAD you can buy a BTC miner that will mine you $4840CAD of BTC at todays current price and difficulty. That in and of itself while expensive, is infinitely more profitable than genesis mining or any other cloud mining platforms

I totally agree. Although for right now bitconnect has worked well for me. I invested just over $5000 8-9 weeks ago....and I have made back over $2000...and it was all my own money. I made just 18 dollars from referrals...so sure its not the 100k that some people have made...but i think even for those who dont have many referrals its a pretty easy way to make some passive income. lets just hope it doesnt crash or disappear.

other benefit with bitconnect...is that your initial investment is returned back to you. whereas with cloud mining...or even buying a rig...that initial contract or investment in the rig is never returned.

I've heard that Genesis Mining is having issues, but I think they'll get everything fixed.

yeah its just very unpredictable

good post