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I expect XTZ to surprise us all. Neo could be a good pick too. Old coins with a lot of profitability ahead.
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A little reminder because those guys are still in the bitcoin game and are still being invited to BTC events.
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I will not give them one more penny. They cancelled my 2 year contracts only 1 year into them. They then insult me by asking me to give them more money to upgrade to then newest technology. I would have to pay almost the same amount of my original contracts.
I guess I'm lucky where it was only $1,500 but others have lost a lot more than that.
Go to their twitter feed and read through all of the comments on some of their tweets. You'll get an idea of how upset a lot of their customers are...
bump. Still a scam. |
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This is a strong accusation.Many of my friends are invested in that mining company and they don't have any complaints. Maybe there are miscommunication. As far as I know too, the CEO of Genesis is active in every blockchain conferences.
Yeah. And it's a shame he is still active and accepted there |
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Always thought genesis was legit until seeing this post. Thanks!
You are welcome. GUYS!
Who knows where Genesis mining is located? I'm filing to the police.
Genesis Mining Ltd. Chinachem Century Tower, 31/F, 178 Gloucester Road, Wanchai Hong Kong Sjonarholl 16 235 Reykjanesbaer Iceland Genesis Mining Iceland ehf. Borgartuni 27 105 Reykjavik Iceland |
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People can be very dramatic regarding bitcoin.
It has been proclamed dead so many times. But once more, BTC will bounce back.
My personal bet is 35k in december.
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I decided to re-open this thread. I think new investors in the crypto world these days should still be warned about Genesis Mining.
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Hey, I'm applying.
User: Glucose
Postion to Apply: Hero
Posts Start: 855 (including this one)
Address: 1MaS2KsAhqo65ybts6zfc8z9hPT65pHgXo
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Hey binance,
I can't withdraw (not receiving any email confirmations - yes all your addresses are in my "whitelist" )
Could you do something?
I found this on Telegram, try it: If you are unable to access our website, please try to visit via https://us.binance.com/ or https://kr.binance.com . These are legitimate sub-domains.
For withdrawal email confirmation issues, try editing the withdrawal confirmation address with "kr" or "us" instead of the "www". If that doesn't work please try using a different web browser like Opera.Thank you. I tried but it doesn't work either for me :-/ I have an open ticket on their support website. Let's hope support will answer soon... |
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Hey binance,
I can't withdraw (not receiving any email confirmations - yes all your addresses are in my "whitelist" )
Could you do something?
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This whole cloud mining contracts business is a huge fraud; these businesses conduct deceptive business practices, and are in violation with the SEC Section 2(a)(1) [15 U.S.C. §77b(1)] of the Securities Act in the US and the european securities and markets authority. They do not disclose the financial risk to their clients and are in violation with countless regulations.
I am confident an audit would show a ponzi scheme business model. These companies are going to cope with huge law suits. It is just a matter of time before the crack down
Realize that by purchasing mining contracts, you are actually not renting miners but purchasing unregulated securities in an offshore dividends generating company, without the rights attached to regular stock. In short, you own nothing
Think about it, why would a mining company rent their existing rigs if mining is such a profitable investment?
They dont. Your money allows them to expand, market their securities and increase their operational margins. Their profit is therefore the spread between the company mining profits and the investors dividends. Genesis mining sells stocks out of thin air
These mining companies are highly opaque entities; they do not deliver audited quartely and annual returns, there are no meeting of shareholders with the board of directors, they are not regulated by any financial authorities, which is a huge risk for investors as they can easily rig the market in total impunity and take inconsiderate risks with your money. There is therefore no empirical evidence that this whole cloud mining contracts isn’t a ponzi scheme only supported by a continuous growing flow of investors money and skyrocketing cryptoccurencies prices.
You should ask yourself what would happen to these companies if the cryptocurrencies prices crash; they will likely disappear with your money.
On top of that extreme risk, your securities are highly illiquid and would be worthless in case of a market crash. This combination of undesirable factors must command a very high return to compensate the risk; I am not a probabilistic risk assessment expert, but huge profits would be required to make any sense to an investment professional
I also see a lot of confusion among the comments about how to calculate the actual profitability of the mining contracts
My understanding is that to determine if mining is a sound investment, you should only calculate your ROI based on the inflation adjusted crypto currency return, and certainly not based on the exchange rate.
Think about it, today, bitcoin inflation rate is about 4%, which means that about $14,918,220 worth of bitcoin is created per day by ALL miners around the world; that's $179,018,640 per year which is nothing given the ever increasing pool of miners.
The question should be, if i invest 1BTC in mining operation today, how many BTC will i have in one year (minus the 4% inflation)?
Now, i would be highly interested in seeing the real world numbers; what is the actual difference bewteen holding bitcoin for 1 year vs 1 year of bitcoin mining contract regardless of the exchange rate, and all fees included from end to end
I must say you wrote a lot :-) Unfortunately you don't understand how mining works which is a big gap when it comes to BTC. Moreover you definately did not see contracts becuase if you did you would wrote it completely different. Do you homework and come back with full knowledge. Best Regards, Marcin We all did our homework. It's just not profitable anymore. |
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Hello OP. I'm interested in joining your campaign.
Bitcointalk Username: Glucose
Bitcointalk Rank: hero member
Number of Posts: 851 (including this one)
Bitcoin Address:12eEVbGdZUW6EuzYjQ6iFJQQJpmQpBFmoU
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Where can I see Taas trading activities ? Can we watch and follow the trades they are doing ?
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I have not the time to read the whole thread but can someone please explain to me what the advantage is to participate in this Genesis mining project while there are other interesting projects available where you can mine the coins for very cheap using your GPU or CPU or buy them as well very cheap for few dollars?
There is no advantage. With Genesis mining you will lose your money. Buy bitcoin directly or mine yourself. |
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These genesis mining puppets are funny. Lying there and saying they make some profit when It's impossible to do so. I hope GM is paying you well for this at least.
But don't worry. People will read my first post and understand that you are lying and shilling for GM here.
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Hi again Once again you are giving just empty words. You did not mention what kind of contract you used to have(did they broke contract rules?), what was your upkeep rate, what was the price of contract.
What you did say is that you did not buy a lot which makes it less profitable in the frist place because of higher price per gh/s on small contracts.
When it comes to unhappy customers I do understand people who are waiting for their tickets to be solved very long.
From the other hand wrong investment in such unpredictable business like mining is investors foult.It is impossible to predict price and difficulty changes and of course there is risk involved. Remember that every 4 years block reward halving take place in BTC mining: http://www.bitcoinblockhalf.com/Moreover there could be better coin showing up at any time or new mining hardware like it was with Bitmain --> Dash contracts. Also there could be theft(hack) involved like it was with Mt.Gox. This resulted in big BTC price dip because back in the days Mt.Gox was taking care of 70% BTC transactions. I suspect this was a reason why your contract came to an end.
Take notice that now BTC exchanging is way more decentralized so the risk that the hack will have significant impact is much lower.There are also projects like omnisego or kyber network which are big prospects when it comes to even better way of exchanging our cryptos. You call happy people who made profit puppets. Maybe they just thought their investment through better then you? I gave you videos, pictures, calculations, dates, payout proofs but still you say that I did not prove anything.This is ridicoulous or maybe you didn't even bother to look through what I posted? It is not a rocket science to calculate that that I made a big profit if I still receive over 50 USD a day after more then 18 months (to make it easier 1 USD=3,6 PLN). In the video you can also see how much I spend on my contracts and when it was. Regards, Marcin Blablablabla. I don't care little puppet. If you believe it's profitable, get the fuck away from here and invest what you want. Go back to your Genesis Mining youtube videos getting your referees. I'm not forcing you not to do so. Feel free to lose your money with them. I'm just warning others. |
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When is Genesis coming back with more BTC contracts?
Are all scam accusations fixed and everyone is happy that he has invested in Genesis Mining? In this case the thread should leave the scam accusations section, shouldn't it? Maybe someone who is still invested can tell me where their mining hardware is located? No. They didn't fix anything. They are still scamming people. Btw they never refound anyone who has been scammed by their contracts. We don't even know where they mine (I'm not talking from a "Geographic" point of view : which pool are they using ? which blocks did they mine ?) Nothing is public. Hi Good to see you again. I must say you are very active hater of Genesis Mining. Throwing such serious accusations must be backed by some facts right? Please show us some proofs if this is true. Btw are you at least client of this company? Recently in this topic I was providing a lot of evidence after you were asking for it so please do the same. Regards, Marcin I was a customer. So yes I know what I'm talking about. I lost money there. And I didn't get any refund. It was like 2-3 years ago. I warned them I would create a thread and keep it updated. It takes me just a few minutes per week so I'm ok saving other naive people some money by doing so. If you need prove just read first post / their facebook / posts along this thread / other threads about them / the "trust" feedbacks on their profile. It should be enough. Why would I lie ? And are all these guys also lying ? : https://imgur.com/7wsvlDo + https://imgur.com/Ot0aYOc+ a lot of people are complaining of monthes without answer form support and missing payouts. And btw you didn't prove anything. You just proved you bought hashing power and that you get some payment. It doesn't prove you make any profit. I'm talking of $ but also of a profit in bitcoin. |
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When is Genesis coming back with more BTC contracts?
Are all scam accusations fixed and everyone is happy that he has invested in Genesis Mining? In this case the thread should leave the scam accusations section, shouldn't it? Maybe someone who is still invested can tell me where their mining hardware is located? No. They didn't fix anything. They are still scamming people. Btw they never refound anyone who has been scammed by their contracts. We don't even know where they mine (I'm not talking from a "Geographic" point of view : which pool are they using ? which blocks did they mine ?) Nothing is public. |
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To me it just looks like a great opportunity to buy clams. They are cheap. It will most probably bounce back to a higher price. |
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#spaceshuttles to marzzz
