I've been seeing a lot just lately about weather Genesis mining is worth it or not and thought I would put in my 2 cents.
When you ask if it is worth it, first you must ask the question - What are you wanting to get out of this?
Firstly, In my opinion, Genesis mining is not an investment, it's a contract. The Genesis mining team are renting hashpower to you. As with any business there is a return on investment as you get the daily payouts but unlike an investment, you can not withdraw your initial investment as you would be able to do with something like shares or L.i.c's.
If you are looking to invest cryptocurrency and are proactive and move it around between Bitcoin and the altcoins and have a fair idea of what you are doing then you will probably make more money than if you bought a genesis mining contract.
If you are looking like I am, to start earning a passive income and don't have the time to trade between the different crypto coins, then Genesis mining is for you. You can start buying either an open ended bitcoin mining contract, or a 2 year contract.
Once you start earning crypto from the contract, you have a small passive income started already, and the way I use it is to compound the earnings back in. Once you start compounding, you create a snowball effect with your daily payouts where the more you invest back in, the more you make daily with no extra money invested.
If you go and buy a small contract and just claim your original daily payments of one or two dollars a day then it probably isn't worth it for you. If however you treat it almost like a business and roll the earnings back into your business it will soon grow exponentially and you will soon have a passive income which will become a nice little bonus on the side.
Genesis mining is a way of making your money work for you with very little effort on your behalf and very little initial investment is needed to get you going. It becomes a little extra money made on the side that is beyond the government's control, out of the system or off grid so to speak.
This is what I think and how I look at Genesis mining. I welcome any comments or thoughts.
While it may not be a scam in your opinion, it could be considered spam if this is the only type of content you post. Spam is not appreciated by the community and could be flagged or may result in action from the cheetah bot..
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I'm sorry but I fail to see how a blog that took me an hour to write after reading this blog post (link below) when we are both entitled to our own opinions can be classed as spam and cracked down on by the steemit police minutes after posting. I have removed the link to the website incase this was your beef
https://steemit.com/genesis-mining/@phatso/genesis-mining-is-not-worth-it
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This my Genesis Mining promo code for 3% discount ALQ3jY. Thanx to anyone who will use it. Good luck with Bitcoins!!
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