I don't know anything about Bitconnect, but I tried Genesis Mining for about a year. While it doesn't seem to be a scam - they do actually mine and pay out - I never made enough on the payouts to cover the initial investment. You're better off just buying the crypto instead of cloud mining it.
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@kendewitt I have heard this a lot that the contracts are not profitable even though people are receiving daily payments. I also just tell people that the best strategy in most cases may be to just buy and hold.