Genesis Mining 2.0 | Contracts Are Back But Is It Worth Buying?

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Comments

Crypto Damon says:

I have 55TH life time 256 SHA mining contracts at Genesis Mining and now. it makes less than a dollar a day. Stay away its a rip. At first it paid good. Not now WTF happened. BS Genesis.

Senthil Prasadh says:

True i bought their recent 10ths for usd 2800 and i just have a little over 0.001 BTC that is sum of 4 days of mining! May be buying xrp for the same amount and holding it for few months or years until price goes up as per speculations would have been a better idea!

THE GARDEN WARFARE SHOW says:

Mine it yourself but add 5 years running costs of the antminer electricity for 5 years is a lot for one of them.

Sara Loren says:

Minimum investment??

John Stibal says:

Don't do it!!!…It's a waste for most people. The fact that they (the mining company) pad their pockets with your up front payment and then take up to three F'n months to buy and set up your mining hardware (this was the case last year) means that between the difficulty Surges and ridiculous maintenance costs, you'll likely lose most of your bitcoin investment.

Bob Bigboy says:

You should perform analysis showing how much people would make if instead of mining they just bought bitcoin instead. You are saying things are hell of expensive or if you are really bullish… But giving no analysis. There is a point where you can show buying bitcoin directly and holding is more profitable than buying miners directly.

Bills says:

cloud mining is dead avoid like the plague

Bills says:

The contracts are making very little dont bother its not worth it

Sergei Tishenkof says:

sorry too late to buy into that shit

Alex Skolznev says:

This is pure bullshit. Did you not see what Hash flare is doing, per their TOS? They are not even obligated to pay back any of their shifty fees that they charge ahead? What makes you think they have a huge bank account with funds to pay YOU back when they decide to shut down?

Filipe Silva says:

Ive been scam buying this contracts. Unless they Change a lot stay away

GONEWILDFILMS says:

Let us know if this is legit ???
There is a HashFlare FB page processing refunds, but its highly unusual to be asking for funds of 0.03 to 0.05 btc to get a refund; it looks like a scam.

https://youtu.be/NOFavq05o7E
https://youtu.be/0ZKpnRPAVOY

Abdullah Shahid says:

Is this a paid video by genesis? MinerGate is still cheaper than and better than genesis.

Graylan says:

Cloud mining is like throwing money away. They don't have to pay anyone btw. They could write script to buy off binance at market rate. Prob what they do and why my state sc won't allow anyone here to use it. Ponzi scheme

Akr o says:

Can you make a video about the profitability of these new contracts?

Akr o says:

Reduced minimum transaction threshold means the mining outcome transactions minimum which is currently 0.03 BTC I guess will be reduced on the control of the buyer!

Nevan Kendrick says:

This is a scam… For the 285 bucks, 1000gh will get you about $0.35 a day, minus the maintence fee leaving you with $0.18 per terahash… The block reward is cut in half again in about 2 years… You will never get your money back on a 5 year contract unless the price does hit like 40, 50k

Kevin Harte says:

Stop shilling this shit, it's like burning money.

Paco says:

Great video. Anyone that invests in these contracts is a fool.They are ridiculously overpriced. $1400 for 5TH as opposed to $845 for 5TH before when they were available. No one will make any real profits on them period! It doesn't matter if we go back into a bull market (unless we reach 20k in the next 2 months) the difficulty will keep going up as even if our Hashflare contracts get terminated it's not like Hashflare is going to turn those ASICS off and idiots will keep buying contracts on Genesis. Sadly cloud mining is dead, plain and simple. Hashflare will do nothing to improve the situation and is likely just stalling so that they can cancel our contracts. Genesis is likely doing this to attract new customers which prevents them from becoming insolvent. Their new contracts will benefit no one besides themselves as they took everything that people complain about, changed it for the better then doubled the price so that they are still making the same amount of money. It is a money grab and the entire cloud mining system is becoming a Ponzi scheme as the only way anyone will make money now is from referrals even though that may have not been their intention that's what has happened. Even if someone is super bullish on Bitcoin it makes no sense to buy these as you would make a lot more by just buying $1400 of Bitcoin today on Coinbase or WHEREVER.

Robert Gold says:

absolutely not worth of buying—- beter buy 8.45 bitcoins and HOLD HOLD HOLD

Chuck A says:

Genesis is "trying" but payback is 971 DAYS on 5 TH/s and that's not counting increased difficulty!
Better to just buy BitCoin and HODL or an ASIC miner.

kingofallcrypto says:

I'm waiting for Crypto Nick to tell me what to do. lol

prndownload says:

"Cloud mining" is just lending platforms wrapped in a different interface.

grasam86 says:

Buy coins for your money instead and put 10% of them to trade with. Even a jackass can catch the top and bottom, not perfect off course but sell when you see 5x-10x move in a month and then wait. It will go down!

peter pan says:

$285 p/th is to high ,if bitcoin goes to 5k then there will be no payout

peter pan says:

what is the existing maintanence fee for genesis ?will the existing contracts be the same fee?

Lukas Moser says:

Hello i would like to get in contact with you since i am working for the elevate group. We offer to buy your own s9 antminer with 13,5 th. We run it for you sharing 80/20 and 5.5cent ele.cost. We sell 1 s9 antminer for 1300 making us 3 times more profitable then genesis mining right now. Maybe we can work something out to bring this to your community. Thanks for your attention, have a nice day.

joop912 says:

At the time of this comment: 1TH = $0.33 (0.00005 BTC) daily – maintenance fee of $0.14/1TH = $0.19 daily payout.

Cost of 1Th = $285.

Break even time $285/$0.19 = 1500 days = 50 months = 4.1 years

Return On Investment…. None! Because breakeven is not a return, its the starting point of being able to be profitable. The breakeven is not accounting for difficulty increasing also.

Genesis Mining is out of their fucking minds if they feel they are giving people a deal. The sad thing is that cloudmining is sooooooooo bad period with other competitors, they can now pull shit like this. Is my math fucked up or something(please let me know) because I almost can't believe it. If you feel balls out bullish just buy BTC.

KDOG Louis says:

I own 50 TH of bitcoin mining. The difficulty is rising so fast I am only pulling in around 6 bucks a day. STAY AWAY!!! from cloud mining.

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