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RE: Crypto Tips: Mining Bitcoin and Genesis Mining

in #bitcoin8 years ago

"Lifetime" is a selling scheme.
People look at the current mining economy, and think that the current return will always be the same, and over a "lifetime" would produce a nice return or consistant income. But the scene changes very quickly, and new tech will make your mining contracts obsolete.
The cloud mining providers know that most likely you will pay much more then you will ever recieve in rewards before the contracts are worthless. This is why businesses sell the contracts, otherwise it would be pointless because they would just mine it themselves for a bigger reward.
Dont invest in mining contracts!
Every single one has turned into a scam sooner or later. Just because the company is open for buisness doesnt mean that tomarrow they wont just take your cash and disappear claiming they were "hacked".
Just my 2cents, but its your money, do what you want