Scam alert : Do NOT INVEST in Genesis Mining

[Glucose]

Hi guys,

Hi.

Genesis Mining isn't profitable, even with "life" contract. Because it won't last forever. When your fees are higher than your payout they will stop it. In fact it will happen very fast (3-4 monts maximum). You will NEVER reach any return on investment.

Bitcoin price is increasing yeah, but so is difficulty. So mining won't give you more money. Unless you have very cheap electricity and mine it yourself.

I thought they were trusted when I searched badbitcoin.org and then I found this thread and there goes my plan in investing. Thanks for the warning.

You are welcome. Quite happy it saved you some money :-)

[1713566627]

1713566627

[1713566627]

1713566627

[Glucose]

Read our blog to get all updated calculations. Remember that the payouts will increase if the Bitcoin price increase which has happened the last month.

Does anybody know how much in BTC can I mine using genesis-mining per 1 TH/s per day nowadays? Is it worth to buy BTC mining powers with this enormously high BTC price?

I've read the blog above, but since then BTC price appreciated and total mining power increased.

Did you at least read the 1st post of the thread ?
This is a scam accusation thread against Genesis Mining. Don't invest here. It's useless. You're just losing your money.

[kovalev]

Dont use them they are a bunch of idiots my account got hacked and they are not helping me. They have locked my account and doing shit about it. I bought 25 Th/s For over 4000$ use their service at your own risk.

[bit-emperor]

I thought they were trusted when I searched badbitcoin.org and then I found this thread and there goes my plan in investing. Thanks for the warning.

honestly today i plan to invest on genesis mining today, but i decide to do little research just for looking any news about genesis mining, and the last one is reading about it here in bitcointalk and finally i have a decision not to make investment in any cloud mining.
thank you

[Glucose]

I thought they were trusted when I searched badbitcoin.org and then I found this thread and there goes my plan in investing. Thanks for the warning.

honestly today i plan to invest on genesis mining today, but i decide to do little research just for looking any news about genesis mining, and the last one is reading about it here in bitcointalk and finally i have a decision not to make investment in any cloud mining.
thank you

That's a very wise decision. I'm happy my thread helped you. By doing so you are saving your money.

You can buy directly in bitcoin what you wanted to invest and hold it hoping price will rocket someday :-)

[swogerino]

I think I saw a high ranking member here selling an account with them.
Is it a good choice to make to continue to use them because of all these accusation going against them now?

[Glucose]

I think I saw a high ranking member here selling an account with them.
Is it a good choice to make to continue to use them because of all these accusation going against them now?

It wouldn't be a wise choice to continue to use them.

Not only because of the "accusations" but mostly because if you do use them you gonna lose your money !

[Enation]

http://prntscr.com/dvoli8

for salle

3.5 btc

[Enation]

0.35btc

[scarar]

Is their any cloud mining that isn't a scam?

[Glucose]

http://prntscr.com/dvoli8

for salle

3.5 btc

This is not a thread allowing you to sell anything. If you want to sell your contract, you can go in the right section of the forum.

+ I would not recommand anyone to buy your contract. If you read the 1st post, you know this contact won't pay anything worth it.

[Glucose]

Is their any cloud mining that isn't a scam?

I guess Hashnest is still the better one and they are really mining. Give it a try if you want. But you won't become rich with cloud mining anyway. So instead you could buy bitcoin and hold them.

[Malindi]

https://i.imgur.com/H7TeGuR.jpg

I am really disappointed by badbitcoin.org website.

Badbitcoin.org recommends Genesis Mining for mining bitcoins. As far as I am concerned, Genesis Mining is the biggest scammer in the bitcoin industry. So these guys have essentially sold their souls to make a quick buck or keep their website afloat.

The action of endorsing and promoting Genesis Mining defeats the purpose of the website, which is to save investors from bitcoin mining scams.

They are essentially saving investors from crocodiles, only to feed a big shark. Well, I guess the best we can do is to find a way to spread the word to the bitcoin community. Warn the community that the best bitcoin scams watchdog on the net is also promoting a scam, so they should watch out.

[Glucose]

I am really disappointed by badbitcoin.org website.

Badbitcoin.org recommends Genesis Mining for mining bitcoins. As far as I am concerned, Genesis Mining is the biggest scammer in the bitcoin industry. So these guys have essentially sold their souls to make a quick buck or keep their website afloat.

The action of endorsing and promoting Genesis Mining defeats the purpose of the website, which is to save investors from bitcoin mining scams.

They are essentially saving investors from crocodiles, only to feed a big shark. Well, I guess the best we can do is to find a way to spread the word to the bitcoin community. Warn the community that the best bitcoin scams watchdog on the net is also promoting a scam, so they should watch out.

Yeah that's a shame and I can't understand why they are doing this. They are probably being paid by GM for doing so. Btw don't forget to put a negative trust on Genesis Mining profile.

[letsbehonest]

Having read through the threads, from September 2015 till now, it seems to me as if there had and has been put a lot of energy and time, into "the fight against Genesis-Mining".

At first glance, i reasoned that dissatisfaction by the time. (the low Bitcoin exchange rate back in 2015)

At second glance, i recognized some kind of a systematic, used in the critizism of some contributors. It became quite obvious, that the company is crtizised for their lack of transparency. This made doubt about the authenticity of these posts.
Being transparent overall in this market, would be pretty naive, owning a mining company competing with competitors, letting them know, how big for example, your electricity bill is, to scale your business in detail. Wouldnt it?

Furthermore, you dont know who was and is contributing here in this thread. So much effort, that many posts, from one and the same member, lets me assume, that this could be some jealous competitors themselves, trying hardly to create a bad company reputation on Genesis-Mining.

In the Internet youll find all kinds of lobbyists, spreading their "thoughts". So, id be quite careful, with adopting to any kind of one-way picture on an issue.

Many customers complained about not having achieved their "promised goal of return". Cant that simply be, due to some unrealistically made calculations, and wrong "visions" about the future price development of Bitcoin? I guess many invested in mining at the wrong time, and got disapointed, when their expectations havent met their "personal price developments". Im also sure, that the nature of some folks is, to be in a permanent state of disapointment, wether they make profits, or not. And then blame everyone, if their calculations are not met exactly.

At least, not to forget about those, who dont understand that Bitcoin mining, or mining cryptocurrencies in general, isnt a short term business. These folks feel convinced, that their 1 to 2 years of mining, are a long term issue. A long term, in sense of cryptocurrencies, is 5 to 10 years, and further on.

Time will tell, who is right or wrong. Until then, my mines keep mining on.

My view. Many having had a short term horizon, will argue in the long term then.

[suchmoon]

I am really disappointed by badbitcoin.org website.

Badbitcoin.org recommends Genesis Mining for mining bitcoins. As far as I am concerned, Genesis Mining is the biggest scammer in the bitcoin industry. So these guys have essentially sold their souls to make a quick buck or keep their website afloat.

The action of endorsing and promoting Genesis Mining defeats the purpose of the website, which is to save investors from bitcoin mining scams.

They are essentially saving investors from crocodiles, only to feed a big shark. Well, I guess the best we can do is to find a way to spread the word to the bitcoin community. Warn the community that the best bitcoin scams watchdog on the net is also promoting a scam, so they should watch out.

NOW you're disappointed by badbitcoin.org? 

Come on, they were shilling for GAW and scrypt.cc and pretty much anyone who paid for ads.

My view. Many having had a short term horizon, will argue in the long term then.

Sure, one post newbie, whatever you say

Feel free to present the long term stats for the contracts GM is selling.

[letsbehonest]

To all of you who have been scammed, to all of you who think they shouldn't be allowed to keep selling contracts : Put a neutral or negative trust on their profile here : https://bitcointalk.org/index.php?action=profile;u=247140. We have to spread awareness about this.


Alright. But as i looked up their profile, no one has put a neutral, nor a negative trust on them. How you explain that? And, if them would be scammers, why isnt there a whole lot  more of fraud accusations in this thread? By serving over 300.000 clients, there should be a "little" more voices of complain out there. As everyone can see, that many people have looked up this scam accusation thread, why that less ones have replied, or shared their bad business experiences?

If they would be scammers, then they should be rated as outstanding skilled craftmen. Lets be honest. Would Marco Streng be presented in the Forbes Magazine, if he would lead an empire built out of fraud?

Why im writing this in favour of GM? I want to invest in a serious mining company. And by questioning your accusitions, i try to find out if them are legit, or just being paid fraud accusitions, financed by GM´s competitors.

What are trusted miners then? Are there any objective reviews on any company? I mean, if anyone presents stats, are them reliable, though they can be manipulated, anyway?

What do you think of getting started with mining Bitcoins right now, behind the reward halving, and with the exchange rate at way another level than back in 2014 and 2015?

Isnt it as simple as that. If theres a strong price, mining should be profitabel in anyway. Its the same with gold mining and oil delivery, and so it is with the biggest digital currency. Or, am i fully misunderstanding the general concept of mining crypto currencies?

[Glucose]

Furthermore, you dont know who was and is contributing here in this thread. So much effort, that many posts, from one and the same member, lets me assume, that this could be some jealous competitors themselves, trying hardly to create a bad company reputation on Genesis-Mining.

Time will tell, who is right or wrong. Until then, my mines keep mining on.

My view. Many having had a short term horizon, will argue in the long term then.

Yeah, you're right I'm a jealous competitor   Let me laugh.

The main problem is not their lack of transparency but the fact they are not profitable.

If you want to prove me wrong you can buy a small contract and show me your profit. Reality is you will get back approximatively 30% of what you paid. It's not about investing when bitcoin is low or high or whatever. Genesis mining contracts are NOT profitable, NEVER. You are paying them, they won't pay you back half of what you paid because the fees they are taking are huge.

As I said In my first post, I firstly was a GM customer. When I asked for a refund, they refused. I said to their support team I would open a scam accusation thread and spread awareness about them.

Now, almost one and a half year later, I don't care to lose 10 minutes every week managing this thread. I'll keep doing it if it can save some people their money. I'll do my best to ruin this company but I don't need to be a jealous competitor to do so, trust me. If you really want you can buy a contract and then you will join me in the fight  

[suchmoon]

To all of you who have been scammed, to all of you who think they shouldn't be allowed to keep selling contracts : Put a neutral or negative trust on their profile here : https://bitcointalk.org/index.php?action=profile;u=247140. We have to spread awareness about this.


Alright. But as i looked up their profile, no one has put a neutral, nor a negative trust on them. How you explain that? And, if them would be scammers, why isnt there a whole lot  more of fraud accusations in this thread? By serving over 300.000 clients, there should be a "little" more voices of complain out there. As everyone can see, that many people have looked up this scam accusation thread, why that less ones have replied, or shared their bad business experiences?

If they would be scammers, then they should be rated as outstanding skilled craftmen. Lets be honest. Would Marco Streng be presented in the Forbes Magazine, if he would lead an empire built out of fraud?

Why im writing this in favour of GM? I want to invest in a serious mining company. And by questioning your accusitions, i try to find out if them are legit, or just being paid fraud accusitions, financed by GM´s competitors.

What are trusted miners then? Are there any objective reviews on any company? I mean, if anyone presents stats, are them reliable, though they can be manipulated, anyway?

What do you think of getting started with mining Bitcoins right now, behind the reward halving, and with the exchange rate at way another level than back in 2014 and 2015?

Isnt it as simple as that. If theres a strong price, mining should be profitabel in anyway. Its the same with gold mining and oil delivery, and so it is with the biggest digital currency. Or, am i fully misunderstanding the general concept of mining crypto currencies?

Yes, you are.

So how about some actual numbers to back up your shilling? You know, costs of contracts, fees, etc. Not some bullshit like 300 thousand clients - meaningless and likely false.

[dhampir-D]

Is their any cloud mining that isn't a scam?

I guess Hashnest is still the better one and they are really mining. Give it a try if you want. But you won't become rich with cloud mining anyway. So instead you could buy bitcoin and hold them.

The chances of getting ROI in this service are also very low, but this is probably the best option among the other cloud mining services.
The problem is that at one time or another the difficulty of mining will increase, in addition, the maintenance fee is high, making the situation of the user even more difficult.