Genesis Cloud Mining Review – It’s Not as Profitable as You’d Think
I find it surprising that many Steemians are being bewitched by Genesis Mining.
OFIR BEIGEL from https://99bitcoins.com/ got asked about sites that allow you to mine Bitcoins A LOT. This is also known as "cloud mining". So today's post is all about cloud mining and answering the question "is it even profitable?".
Ofir took one of the most respectable cloud mining companies, Genesis Mining, and decided to share with you his own results. Get ready to be disappointed.....
Read his blog post at http://tinyurl.com/genesis-cloud-mining-review
For die-hard fans worshipping Genesis Mining as a "mining money god", read https://bitcointalk.org/index.php?topic=1185909.0.
Genesis mining is really reliant on getting affiliate bonus codes.
I put in about $160us in to get 1 Terahash of Btc mining and also .60 metehash X11 to mine dash and start coin.
After 2.5 month i am not even half way to recouping that money.
I'm still not sure if its a complete loss... yet.
Still something to do, and it has helped me to better understand how the whole crytpo world works.
I bought most of my genesis contracts with my Steem Rewards. So i actually put in very little cash.
Maybe time will tell if your efforts was worth it. Good luck.
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If you mine and hold, it could be a loss. If you mine and trade, even i should be profitable. Yes, i'm on a contract with genesis. For now not even through the 1 month without payouts. So i try to not worry. I'm also mining with eobot which i like better, due to their five year contracts and more versatile configuration.