6 Months of Genesis-Mining (Review): Day 168 - Bitcoin Cloud Mining | Full Disclosure
There are a ton of professional Genesis-Mining shills out there. Don't fall for them.
If you think about investing: Read this carefully!
So, if you want the short story: Just avoid cloud mining in general, including Genesis-Mining.
As I stated before, I never upgraded my contract and don't accept referrals, so this is fully unbiased data.
After 6 months I got only 36% of my investment back, payouts are even lower than on my first day even though Bitcoin's price has 4x by now.
If we expect constant rises in bitcoin-hashing-difficulty but a less quickly growth of BTC we can be sure to never get our investment back.
Right now the date to ROI went from initially 10th of April 2018 to the 8th of December 2018, tendency towards infinity (= NEVER).
So for everyone who doesn't believe it: I have empirical data that cloud mining has a high chance of losing parts of your investment.
My personal advice: STAY AWAY FROM CLOUD MINING
Just holding BTC will probably be MUCH more profitable
Here are all interesting graphs:
Here a link to my first post: https://steemit.com/mining/@xwerk/genesis-mining-review-full-disclosure-bitcoin-cloud-mining-day-0-steem-btc-giveaway
I will make an update in maybe 3 months or if something interesting happens... until then: Just make sure to do something useful with your money. Something that is NOT cloud-mining.
follow me @xwerk _ʕ•ᴥ•ʔノ
These are the kinds of posts that most people do not like to share because they are hocking referrals. Those people probably make their money from the referrals and do not give a rats you know what about anyone else as long as they get their referral money. This post probably wont be a profitable post because its true, but I applaud you for doing it. Cloud mining is in the business of making money and if you happen to make some, then its pretty much luck on your part.
Thanks. I noticed a lot of youtube channels promoting GM while otherwise offering valueable info about other crypto projects. I think it's short-minded and has a negative effect on the cryptoworld and obviously on the unaware "investors".
On our @coderotation blog, we care about diverse opinions. Even though our blog is for affiliate code sharing, and your findings are evidence contrary to a profitable experience, we want meaningful discussion. You are invited to share your findings and discuss with others.
Do you really think that if it would be more profitable to use the hardware for mining they would let people to rent it?
Shouldn't be a surprise at all.....
I wasn't suprised. But then again, one could argue that the cm companies could just be trying to diversify the risk and offer a very small profit margin for investors. Unfortunatelly it seems that's not how it is.