Bitcoin Forum

Hi,

I recently made some contracts with genesis mining not before I did not viewed some reviews about the guys. Most people said nearly all mining clouds are fraud but this one. So I decided to invest something in Ehter as I'd like to have and save some for the future. I did a 2 year contract and wasted 500 EUR there but nothing happens. The dashboard is not even on the actual date regarding the "income" neither is anything happening or shown at all.

Are there any current customers of that cloud or am I pranked? I hope this is the correct sub forum.

Kind regards.

Did you use the customer service link at the Genesis Mining website to see what the problem is? Genesis Mining is legitimate; just has never been a very good deal with the high fees they charge.

Don't you have any idea about them before investing at them? genesis mining is legitimate mining busines but i don't think they are profitable anymore since difficulty is much even more higher these days and you could actually search some feedbacks onhere if you search those. I think you should contact their support if it is possible to pull out your contract out their i don't truly now if this is possible but try it so that you can recover your money or else you could wait untill your capital will regain back on long time waiting.

Who brings you there in genisis mining? they are not fraud because the fact they are  actually scammers..
You money is not safe to them never heard that there is cloud mining site are safe most of the news and my experience in cloud mining site they good in the first start of their business but for long term they are not good you will just waste your time for investing and in the end you lose a money,...

So next time stay away from them ..

That is somehow a fraud as you are unable to recover the same amount of coins invested on the contracts. You receive lower income each new day and nobody knows what will happen after sometime on the lifetime packages... Cloud mining is always a waste of money, stay away from these sites, the HYIP Ponzi schemes too.

But what I think strange here is that you didn't receive any ETH, is that ("nothing happens")? If so, show proofs of what you say and post on Scam Accusations section.

Genesis Mining is a trusted cloud mining site and there is no default red trust against them and with the price of alt coins at an all time high and if you are able to secure a good mining contract then you could tell that it is not a complete waste of money but i am not sure about bitcoin mining as the difficulty is really high and if the price of bitcoin breaks out from this valuation and crosses $2k then the possibility of a profit in bitcoin is also higher.
@ OP talk to their support and i am sure they will settle your issue faster.If not you could start a scam accusation in the proper thread.

I think if they are still alive from before until now and you buy a contract for them but the profit is really small or i think every year you can see the small interest or your profit.. that actually the same as other cloud mining doing .. that actually they are forgot that they are holding a contract for cloud mining site.. much better if you really want to be safe buy your own rig not investing for online cloud mining like other said its not safe and there is no cloud mining site that actually can gives you a good profit..

They pay, but the returner takes a long time, and being a "cloud mining" becomes even harder to trust.

I cannot believe people still sent this kind of money to GM. Guess the best way to learn is on your own mistakes....

I think there is a users still sending money in genesis they are continue believing on the plat form of cloud mining. But they do not try to compute how much did you earn in the contract of GM that is equal to your capital investment. And i agree that all cloud mining is turning to scam in the long run.

Regardless if Genesis Mining is legit and not running away with your money (yet) it doesn't mean they are not going to scam you or it's a good site to invest, sit and wait for your money to earn. If you do the math, you can earn more money with buying and selling stuffs online and ask for Bitcoin as payments. ROI with Genesis Mining is long.

If you have bought contract with them than you may see it after few hours and if not just contact them.

But i have to say you have made a bad choice by investing in cloud mining contract. Genesis mining is atleast legit company but you can't earn any profit for very long time. So just wait few more years to get back those 500 EUR.  ;D

Genesis mining is the last standing cloud mining that offering low fees with at least 2 years contract. Same like you, I'd never heard something bad about them, but I am too late to know about cloud mining so I never invest money on there. It's not because I fear to lost my money, it's because I know it will take long time to ROI.

Have you tried to contact the customer support about your problem?

Just try to make your in here.
Https://bitcointalk.org/index.php?topic=602022.4640

Looks another customer is not getting your problem.

Just try to send a ticket for the customer about your problem. This time, genesis still looks legit site.

There is no problem on his thread, He has not pranked you or something like that, but you just get a technical error from his service.

Looks he wasn't googling about GM, and just try to investing his money without a knowledge about it, Do you mean GM already turned to the scam site?

The date of payout is always 1 or 2 days behind, because they pay within 24 hours AFTER they day of mining.

Did you enter your wallet address? If not, they can't pay you. => enter your wallet address and this will be fixed.
Did you pay with creditcard? If yes, there is a waiting period before they pay you. => wait about 30 days (I'm not sure how long exactly)

And ofcourse it's always good to contact their support.

Cloud mining = scam. If you see in past also hashocean was giving investment back in 3 months while genesis mining thought of a better scam idea where they will pay less and roi will mostly be more than 1.5 years. Now the trick they used was to reduce your income so that you are being charged more fees and like that they will terminate your contract. If mining was actually profitable why would they sell it to you.

Thanks for the answers. I contacted the support as nothing happens till today. I entered my wallet in the first place and did not expected to get rich or fast or something like that. I just wanted to own some Ether and thought it would be a nice way to contribute to the network in the way of cloud mining as electricity in my country is pretty expensive.

Will reply again if the support gets back to me.

If you want to own some Ether then why you don't use 500 Euros instead to purchase Ether at some of the exchanges? It's far more fast compare on buying hashpower at cloudmining and we don't know if they are really operational.

Anyways what done is done. Hopefully their support will get in touch to you.

"Hopefully" "Hopefully" "Hopefully".

I agree with the above posters. Cloud mining is typically not recommended to due to lack of transparency.

I'm also like you OP sometimes I do something and then research about it afterwards, I have small contract of DASH with them and so far I have received my shares to my address.
People here tend to go crazy when it comes to cloud mining services.
Did you even check the address bar in your browser to see if you are sending money to the right service?
They show you the contract first, how could you not read it before depositing?
Wasn't ETH supposed to become a POS coin? how does it work anyways and what happens to miners anyone knows?

Ether will go PoS in a year time or a bit shorter.

GM has been and will be a total loss for investors today and in a year time.

Genesis mining is generally regarded as a legitimate investment, if not a wise one. 

A lot of the returns some people get are based on referring other people to the service. It’s a pyramid scheme, but you can rest easy knowing that what you see is what you get in terms of where your money goes and how to withdraw it, and they’re not going to outright steal your money. I’d say to give some time. They may still be processing your order, or they could be resolving an error.

That's because you haven't bothered to read the topics. There are more than 10 threads full of information in this section, use the search function to find them. You know that little box on the right ;)
I've just linked a post about them to a guy in another  thread (https://bitcointalk.org/index.php?topic=1873202.msg18882522#msg18882522)

Genesis mining is the last standing cloud mining that offering low fees with at least 2 years contract. Same like you, I'd never heard something bad about them, but I am too late to know about cloud mining so I never invest money on there. It's not because I fear to lost my money, it's because I know it will take long time to ROI.

this cloud mining is the most legit site than other even the contract rather expensive
check with CMMONITOR.COM it show the status of every cloud mining
so far i have cloud mining at 2 web and still paying until now genesis and hashflare

better you contact the support team to asking, they always answering and very helpfull