Is cryptocurrency Your Get Rich Quick Scheme ?steemCreated with Sketch.

in cryptocurrency •  2 years ago 

Cloud mining Crypto invest and sit back and get cash. Its that simple or is it ? A passive income you could live off and retire from

Is this the greatest get rich quick scheme or just another Ponzi scheme for the fools

I have recently started but looks great on the surface will so high returns on your money its crazy.

The Risks

There is always risks You Are back a company to be successful. That the mine keeps on running and they do mess up which can happen.

For me that the biggest rick

The price i am not worried about i believe it will rise long term

There is a lot scam companies out there on the surface which means you have got to do your research

The one I use is Genesis Mining http://bit.ly/2sY44Vg if you have not joined it pretty good and the reviews are good too here is my code for a discount if you want to join you will get 3% off 5ZEQWb

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@newmarket65 I am with Genesis Mining for a long while. Together with Genesis I am mining numerous currencies, but I am fed-up with the bad transparency and dwindling income, and sometimes missing payments (on a regular basis).

Separate to Genesis I also run my own rigs. My DASH mining continually reduces with Genesis. My own rigs have been making the exact same amount of DASH units per day since 4 months, even though DASH went up 3-fold in this time. This is just one example of why I do what I do.

I have invested in the stock market since I was 18 and I am now 50. Even Jordan Belfort scammed me. I want my own rigs, amen - if I can't physically touch something I will be scammed down the line, it's just my life experience. It currently takes me 100 days to amortise a rig.

i looking myself to start up my own mine is it tough? wolf of wall street how he scam you?

I personally do not buy any crypto at all, I only mine it. The reason is that I love hardware that I can physically touch, if crypto goes to hell then I still have my rigs, maybe a 50/50 approach is the wisest, but I have had it all, including exchanges fucking me, that's why I distribute my risk and focus on coinfolio. I mine DASH, BTC, ETH, UBQ, SC, BCN, XMR etc.. My mines send the money to either:

1.) Digital wallets that are also actual nodes
2.) Cold storage wallets (see my video on how to make a paper wallet)
3.) Exchanges (such as Poloniex and Bittrex)

The current amortisation period for mining equipment is approx. 100 days.

20 Rigs will cost you around 70 000 AUD, they will currently deliver approx. 700 AUD of revenue a day, and cost you around maximum 6 AUD electricity to run per rig and day.

I was scammed by the wolf and his friends about 25 ago. At that time internet did not really exsist yet, atleast was not accesible fr everyone. I reacted to a small advertisement in Time magazine where a broker was pushing Titanium. All the Titanium I purchased was stored in a "facility". The master himself blew all that money. I received certificates for metal that was never on stock. I was a student at the time, lost all my savings.

do you teach how to mine any you tube stuff. yeah sounds like the current gold market plenty of gold contracts but no gold. that would of made you a lot of money if it was a real investment

Even today where the crypto market has collapsed again, I am still making 24,-- AUD per rig per day. Also, Genesis Mining has again reduced my DASH mining results while my own miners still mining exactly the same quantity of DASH units as 1 week ago, the same as 4 months ago.

yeah good return i am looking to set up my own rigs myself. but need to knowledge first of how to do it

It will take you atleast 3 to 6 months to have enough learning curve to conquer many of the issues. And some issues are just a headache. If you think you can just leave them running and go do a job on the side, then that's probably not quite right. Every coin needs it's own clocking parameters. On days like today it's a total headache, the Ethereum network has been coughing for hours. The ZEC servers are throwing my solutions. Nanopool isn't paying my ETH and keeping it on hold for some religious reason (they had probably spent my ETH when it was worth more, now that prices have tumbled they probably don't want to pass on expensively mined material). Who cares, atleast I am in control. I have now switched everything to DASH - and that's running, fuck them all!

you have good experience when did you start mining how along i would need i think one on one teaching that why i would be interested in getting coached on it from someone like your self to learn it i think your right the curve would be about high. I believe the profit will be high to in the future. what about security when your mining that would be my issue some one hacking your computer

Thanks for the info. I've had good experience with Genesis Mining as well. I'll use your code to upgrade hash power when I upgrade next. Here's mine if you get a chance '6g0VNO'. Followed!

great i will use your next purchase

Got into Genesis mining a few weeks ago for ETH contracts and was doing them in bigger MH bulk buys, but I started doing it just +1/2/3 MH/s increments at a time so I could use other people's affiliate codes and hoping they will use mine next time too!

I just used yours, it was only for +1 MH/s for ETH at but looking to spread the love! I followed you also, trying to connect with people here on STEEMIT!

Next time you upgrade your hashpower use my code! NkQanX

Any contract upgrade is fine, I am investing in ETH myself but appreciate the return love of any Hashpower! I followed you too :)

Thats I will do

Thanks market, got your code pasted in my rotating list.

you do know cloud mining is just silly...
right ?
Sorry; i am a full time bitcoin specialist and decline to reveal my Research here.
Since April 2016 crypto has taken up about 99% of my life when awake.
In fact i did cryptocurrency 24/7 for well over two months and this resulted in a nearly serious infection and today over two or three months later i still walk with a painful limp as a result of BitCoin.
You can choose to believe that as you so wish, i have witnesses should you decide to wish to check.

/ Hugz ;)

Greg :)

If you want to hear about some of the things i do in crypto, send me an email or not; your choice.

wowbam at hotmail dot com

warmest regards...

Thanks for the heads up

i will not speak to you in a public forum, email me.
if you wish to know the real facts about bitcoin...
/ Hugz ;)
Greg :)
your choice...
i do bitcoin 24/7; which is why i am in constant pain months after my 2 nd last major bitcoin play . . .
oh if u r wondering 24/7 bitcoin sucks, almost as bad as having a j-o-b, which is why i do bitcoin instead of having a boss...

I used genesis mining, too. But the mining speed is so slow that I quit and delete the program T.T

did u not make money from it?