question about Genesis Mining

[ilic]

so I bought 1.5 T/has of Bitcoin mining contracts on Genesis mining last week when they had them available again.  I also have 5mh of Eth mining.

The Eth payouts occur daily and I get like 0.0008 eth.

My Bitcoin payouts haven't happened for like a week now, the first 3 days i got about 5000 satoshis or something each day and now I get nothing?

what's the deal?

[Laravel]

Much better if you'll ask it on their official thread https://bitcointalk.org/index.php?topic=602022.0 .
Not all people in the service discussion board are familiar to genesis mining.

[ilic]

ok cool thanks

[alani123]

Genesis mining doesn't have a very great reputation for their mining contracts. It's true that they hold some datacenter which is used for mining but it's unknown whether or not they are honoring the 100% of what customers pay for in mining through that datacenter. There have been many faults in their service and seems like you've been caught in the fire. That's why cloud mining shouldn't be trusted.

[timerland]

so I bought 1.5 T/has of Bitcoin mining contracts on Genesis mining last week when they had them available again.  I also have 5mh of Eth mining.

The Eth payouts occur daily and I get like 0.0008 eth.

My Bitcoin payouts haven't happened for like a week now, the first 3 days i got about 5000 satoshis or something each day and now I get nothing?

what's the deal?

Maybe it's because the payment amounts are below the dust amount so they will accumulate amounts until you get enough to get paid out. Or, perhaps your contract has already been terminated because it is no longer covering maintenance fees.

More likely the former since you seem to only have bought your contract a few days back.

You should ask their support instead of writing on their thread, i don't think that their thread is being managed that actively by a PR member.

[1Referee]

It's true that they hold some datacenter which is used for mining but it's unknown whether or not they are honoring the 100% of what customers pay for in mining through that datacenter.

Oh yeah? If they had at least a decent share in each and every coin they are mining with their farm, it would be seen by the public and directly increase the credibility of Genesis Mining, but their mining activities are nowhere to be found!? It has been something a fair number of people were struggling with for years, and for that reason stayed far away from anything related to this service, but it's still thriving due to delusional people pumping money in there. This service is going to be responsible for a lot people losing their precious coins, but people don't realize that yet. As long as they get paid they are satisfied, but at some point there will be a moment people will look back and see how stupid they have been, but then it's too late.