Who's investing with CLOUD MINING companies (Hashcoins/Hashflare, Genesis Mining)?


#41

In Germany you could have this 5.6 in your Terms but in front of a curt it would not count. Its 1 sided and way to vague. Its giving them rights to do anything. shocking.

but you are 100% right with your statement of course: red allert

Genesis Mining put there TOS / TOC not even online or I’m too stupid to find them?


#42

Can you please keep us updated on your profitability with GM? Are you still on track to meet your original ROI? Things of that sort. I think it would be helpful to hear from people as there contracts enter month 2, 3, 6, and 12.

This goes to anyone else who is clouding mining with GM or Hashflare/Hashcoin. Keep us updated with the progress. This is a great way for us all to learn about cloud mining.


#43

So pulling this thread up again, what options are out there now for cloud mining? I had started up pretty good with Hashflare, but with the recent contract debacle I’m going to let my mining finish its course and then cash out. In the meantime, is there anywhere good to go to? Genesis has always been the other place I’ve looked at but it sounds like they may have some issues too.

Thanks in advance!


#44

full disclosure, i have contracts with Hashing24 / genesis and hashflare… pretty concerned ill never get my money back.

now with that, im always watching this space, here are my thoughts:

Hashing24 - they have 3 year contracts at the moment, at a ludicrous price. within the mining difficulty heading up you will almost certainly never get your money back, let alone a profit

Hashflare - now on one year contracts. this one you might get your money back on BTC mining, but as its a one year contract its touch and go. currentl difficulty its about 250 days to get your money back…

Genesis - currently ‘sold out’ of mining contracts until probably late October. they were a good price with their open ended contracts, but my best guess is now they are waiting to see if the Chinese miners will be sticking around so they can better estimate the returns on their hash power then price accordingly.

I would steer clear of all of them, and dont every by scrypt / Monero / ETH contracts. Genesis MIGHT come out with a BTC contract worth looking at, but this space is a big risk.


#45

Yeh. I would certainly wait until the market matures in this area. I don’t think cloud mining is bad. I just think it’s ridiculously immature and going through growing pains.


#46

I have a contacts in 12 different companies whitch gives as opportunity to participate with them thru cloud mining. If you are in Bitcoin space for a while you start add those pices together and see, there is only one bussiness whitch will give you financial freedom and that’s Bitcoin Mining. Not everyone has finanse to start own farm or even solo, there is help whitch is cloud mining… But with my little experience I can tell you be aware and search, there are many scams and you can loss money. I did a lot of research and I see one price really clearly 20K in 2020 before third chain split. Make sure you will collect, save and mine as many Bitcoins as you possibly can. It will be biggly


#47

i have a small ETH Contract from Genesis. It looks like i get my money back after around 550 days. after that i mine for my own profit. you wont get rich with it, but you should get your money back at least if you stick to the big ones (BTC, ETH, ETC)


#48

Thanks all! Keep the insights coming!


#49

Hello all,
I started investigating and researching Genesis Mining based on the videos I’ve seen on YouTube- they seem legit, however…
There have not been many videos that explicitly explain how to get involved or even what you are actually looking at when going on their site.
Unlike Peter’s vids, most of these guys are not very coherent or too quick to go through the actual steps or descriptive at all about what to do or what it costs.
So if anyone would like to waste some time and explain to me wtf the cost are to this, or how to actually get involved please…let me know…
Or just tell me its stupid and i’ll leave it alone…lol


#50

I think you only have to click on buy haspower, choose how much you want to spend and you are good to go. I like using https://www.coinwarz.com/calculators to see what is most profitable right now. But keep in mind if for example the difficulty rises like ethereum yesterday it will get a little unprofitable in comparison to the other contracts. Just ask something special if you want to know more i know what its like nit knowing what to klick or even if its good to take a special contract. Just think about the 3% discount code at the payment, if you dont have a promo code it would be wasted money because everyone who is mining has one (big youtubers etc)


#51

This was an idea of mine lately, by investing $2600 and building from that.

The $600 monthly is what i can afford to lose, just to speed up the ROI.
What it basically says is that if i keep re-investing my money until i have reached about 160 TH/s, i can just sit and wait.
After 9 more months i would have earned $23.300, knowing BTC price will be the same or goes up, if it goes down roughly 40% less return, which then will be about $14K, still not bad tho.

1: $2600 = $456 pm + $600 = $1056 // Return in 2,5 months
2: $2600 = $456 x 2 = $912 pm + $600 = $1512 // Return in 1,7 months
3: $5200 = $912 + $912 pm + $600 = 2424 // Return in 2,1 months
4: $5200 = $912 x 3 = $2736 pm +600 = $3336 // Return in 1,5 months
5: $5200 = $912 x 4 = $3648 pm + 600 = 4248 // Return in 1.2 month
Total cost
$ 20.800 + $3000 = 23.800 // ROI = 6,5 months
Total investment time
9 Months + 6,5 = 15,5 months


#52

You could basically keep going until you have XXX TH/s, this only makes it more risky.
Around 2020 i expect BTC block to halve, so thats about a 50% less income, which still is about 10K(still not bad)

And if the BTC price will keep going up i will have made about $60K before the halving.


#53

what company would you invest in?


#54

I know what i would do: stick to the winners. Best investment is holding BTC. You can never have enough BTC. And pick 2-3 strongest ALTS. Cloud mining tend to perform worse than BTC itself. Sometimes the best thing to do is - nothing.


#55

yeah but what do people say who bought btc mining 1 year ago from genesis e.g. they got back their initial investment +50% in BTC and they will get it probably the next ten years.


#56

Genesis mining, i like their plans and its the cheapest.


#57

@Terence & I are also interested in cloud minining, but we’re hesitant. @asharp @gabriel @cryptoBrad
What are your views?


#58

Be hesitant…and stay hesitant. Just buy coins outright


#59

@asharp Thank you soooooo much!!! You’re the bestest :woman_astronaut:t2:


#60

Take a look at http://www.analysis.izzipage.com and you will see that it would be better to just buy the coins and hold them intead of investing in those cloud mining.
The document is under development and it will be updated


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