Recently decided to invest in cloud mining. I know most people believe it to be a scam but I did the math and saw a lot of people show (with proof) they ended up making some money. I should add that I believe Bitcoin will be at $10,000 by 2018, and way above that by 2019. I invested about $200 total in two different companies: genesis mining and bitcoin.com's pool.
Genesis Mining
I saw a ton of people label this a scam, but I saw youtubers show their dashboard with decent returns taking into account the hashrate they purchased. I needed to try so I bought the smallest possible package and will wait a few days to see how things go. If I get my expected returns I will buy more hashrate to increase the daily income. These are lifetime contracts that will only end if they stop being profitable for 60 days, which I guess will only happen if Bitcoin's price crashes hard, which I find unlikely at the time and for 60 days.
I'll keep you guys posted on this one
Bitcoin.com Pool
I trust Bitcoin.com and decided to pre-order for October. It'll be a while before I start to see some returns but I have the chance to mine Bitcoin Cash here, which is more profitable to mine than BTC at the moment. According to my math, and accounting for daily fees, I should get my invested money back in about 7-8 months, then it'll all be profit.
Have any of you guys ever made these investments? How did it go?
