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Author Topic: Scam alert : Do NOT INVEST in Genesis Mining  (Read 239159 times)
1d1otoftheday
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November 14, 2017, 09:17:48 PM
 #681

God damn it, why did I not come along here earlier?!

My BTC "lifetime" contract startet 30.10. There were some delays, payments were late. Profit was as expected/calculated. No big deal. Now three days show no profit. Made me a little bit nervous.

But who is to blame? Genesis?!
Right now I just feel stupid and the only one to blame is me. Lucky me I could only spend half of my credit card limit for whatever reason.

I bought a 38TH/s contract. Sounded like I would run 3 S3 without the noise, heat and to worry about hardware maintenance and failure. Wonder why I did not count back: 0.00028 dollar/gh/s/day is not a great deal assuming that power costs (4kW/h) are not even a third of it. It looked cheap for me back than comparing to what I or my company has to pay for power. Before I knew that even here you could cut costs in half as a big power spender.

What I underestimated the most: increase in difficulty. This contract will no even last a year, assuming difficulty doubles within a year as it did during the last 12 months (well: BTC/USD at 8200 would let my contract stay alive.. hope dies last)

Don't mine. Invest directly.

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mptak123
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November 16, 2017, 05:09:00 PM
 #682

God damn it, why did I not come along here earlier?!

My BTC "lifetime" contract startet 30.10. There were some delays, payments were late. Profit was as expected/calculated. No big deal. Now three days show no profit. Made me a little bit nervous.

But who is to blame? Genesis?!
Right now I just feel stupid and the only one to blame is me. Lucky me I could only spend half of my credit card limit for whatever reason.

I bought a 38TH/s contract. Sounded like I would run 3 S3 without the noise, heat and to worry about hardware maintenance and failure. Wonder why I did not count back: 0.00028 dollar/gh/s/day is not a great deal assuming that power costs (4kW/h) are not even a third of it. It looked cheap for me back than comparing to what I or my company has to pay for power. Before I knew that even here you could cut costs in half as a big power spender.

What I underestimated the most: increase in difficulty. This contract will no even last a year, assuming difficulty doubles within a year as it did during the last 12 months (well: BTC/USD at 8200 would let my contract stay alive.. hope dies last)

Don't mine. Invest directly.




I disagree, contract will last much longer if Genesis Mining will last.

Usually i don't complain but check this out:

https://www.youtube.com/watch?v=1a9Wu87iR24


They don't pay commissions, they don't pay daily, they don't pay monero very often.
Also they miss payouts very often in general. Finally they are behind the schedule.

Actually one more thing, no IT customer service...
Unless you find ok waiting 4 months for your tickets to be solved.



Best Regards, Marcin

Exclusive Genesis Mining 3% offer avaiable with this code uQtLeP
kitkat008
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November 16, 2017, 07:09:21 PM
 #683

cloud mining...they always turn out to be a scam unfortunatly...
mptak123
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November 16, 2017, 08:46:47 PM
 #684

cloud mining...they always turn out to be a scam unfortunatly...

Maybe there is a hope after all.

Just received commission for the contracts bought 09.11.17

Will keep you updated guys.


Best Regards, Marcin

Exclusive Genesis Mining 3% offer avaiable with this code uQtLeP
mptak123
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November 17, 2017, 03:25:01 PM
 #685

cloud mining...they always turn out to be a scam unfortunatly...

Maybe there is a hope after all.

Just received commission for the contracts bought 09.11.17

Will keep you updated guys.


Best Regards, Marcin

Just received commissions for 10.11.17 and 11.11.17 so for those interested go and check your wallet.
Please keep in mind that credit card commissions will be paid in mid December.


GM thank you after all


Best Regards, Marcin

Exclusive Genesis Mining 3% offer avaiable with this code uQtLeP
Glucose
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November 19, 2017, 06:28:49 PM
 #686

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.

mptak123
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November 19, 2017, 06:45:43 PM
 #687

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?

Hi

If you want o buy for few dollars then Genesis Mining is not for you.

The best contracts are open ended BTC which are sold out at the moment and they will not come back until April probably.


Best price level per 1TH/s start from 25TH/s contract which is 159usd per 1 TH/s so you need to invest more then few dollars.


Best Regards, Marcin

Exclusive Genesis Mining 3% offer avaiable with this code uQtLeP
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November 21, 2017, 02:05:34 AM
 #688

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.

Any cloud mining company will lose you almost all your money....anyone who hasn't realized this by now is delusioanl

BitNaija
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November 21, 2017, 07:55:17 AM
 #689

As a newbie, I have gained a lot from this discussion so far.

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mptak123
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November 21, 2017, 10:48:13 AM
 #690

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.

Any cloud mining company will lose you almost all your money....anyone who hasn't realized this by now is delusioanl

I said and proved many times that I already made a huge profit within 18 months with Genesis Mining.
My open ended BTC contracts are still live and now they still pay better then ever before.
It is very simple calculation and it is not "delusioanl' for sure.

You can see history of my profits in my last video on youtube: https://www.youtube.com/watch?v=SeZj-7GudHQ


Go to 3m of the video to see it.



Exclusive Genesis Mining 3% offer avaiable with this code uQtLeP
123wiser
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November 21, 2017, 11:24:27 AM
 #691

Until they reply I will add this site to my scam section.
Another Coin scam is coming COINCROWD !! Don't invest, don't buy coincrowd - COINCROWD TRUFFA
mptak123
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November 21, 2017, 12:05:43 PM
 #692

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.

Any cloud mining company will lose you almost all your money....anyone who hasn't realized this by now is delusioanl

I said and proved many times that I already made a huge profit within 18 months with Genesis Mining.
My open ended BTC contracts are still live and now they still pay better then ever before.
It is very simple calculation and it is not "delusioanl' for sure.

You can see history of my profits in my last video on youtube: https://www.youtube.com/watch?v=SeZj-7GudHQ


Go to 3m of the video to see it.





Another Genesis Mining pre sale is live NOW with start date 15th of March 2018:

https://www.youtube.com/watch?v=-QdHnIBGXs8


Happy Mining!

Exclusive Genesis Mining 3% offer avaiable with this code uQtLeP
creuz
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November 23, 2017, 10:37:29 AM
 #693

Even this topic is invaded buy professional shills from Genesis Mining, the well known ZetaOS and now mptak123 Smiley
This company is toxic, the cancer of cryptocurrency.
mptak123
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November 23, 2017, 01:02:11 PM
 #694

Even this topic is invaded buy professional shills from Genesis Mining, the well known ZetaOS and now mptak123 Smiley
This company is toxic, the cancer of cryptocurrency.



Before you start insulting people you should do your reasearch.

On my youtube channel there are also crictics about Genesis Mining and do you think "professional shills" would do that?

I also promote Bitconnect which is HYIP platform which is way more risky but gives better returns. Do you think I would do that again if I was "professional shill" ?


Best Regards

Exclusive Genesis Mining 3% offer avaiable with this code uQtLeP
cdtc
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November 24, 2017, 04:34:24 AM
 #695

Another mining scam. Avoid.
mptak123
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November 24, 2017, 12:05:00 PM
 #696

Another mining scam. Avoid.

Hi

I must say I totally don't understand comments like that.

I guess my answer should be Great platform, invest. LOL


Regards

Exclusive Genesis Mining 3% offer avaiable with this code uQtLeP
brobbel
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November 24, 2017, 01:12:52 PM
 #697

Another mining scam. Avoid.

Hi

I must say I totally don't understand comments like that.

I guess my answer should be Great platform, invest. LOL


Regards

But not capable of answering tickets in a reasonable timeframe, or correcting problems they created at all.
Glucose
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February 16, 2018, 09:47:08 PM
 #698

I decided to re-open this thread. I think new investors in the crypto world these days should still be warned about Genesis Mining.

maceraci1981
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March 06, 2018, 10:30:44 AM
 #699

I decided to re-open this thread. I think new investors in the crypto world these days should still be warned about Genesis Mining.

I contacted Hong Kong Police Cybercrime Department for directions ( epol-office@police.gov.hk ). According their website, their office is Hong-Kong based. So let's give it a try.

Enough is enough. I'm sick of this torture. We need to take Genesis Mining down.

I advise everyone to take action.

Best...

Best Faucet Ever Made!!! CRYPTO MINING GAME >>> https://cryptomininggame.com/?ref=c106c605a521
xenomorphe1
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March 06, 2018, 02:25:15 PM
 #700

I also thought that Genesis Mining was a scam after buying a contract with a credit card. They paid me the ETH (for the first month) only after 5 months. I wrote them maybe 3 times.
They did send payment every week after the first month. Now the payment is only every 2.5 weeks. But we need to understand that the mining difficulty also got bigger. And the transaction fees is also more expensive.
That's why they are sending the payment less often. If you mine with your computer, you may understand them.

They also sometimes have problems with their transactions. When the Cryptokitties were released on the Ethereum blockchain, every transactions were stucks. So, they couldn't send us the mining rewards. After writing to them (or maybe they have seen it?), they send the rewards after some days.

I think that the new mining contracts are too expensive. But who know the real price of ETH or Bitcoin? It is a risk like when you are doing trading or participating in an ICO.

If you want to be certain to receive your coins/tokens, it is faster to buy them directly than buying a mining contract. But a mining contract is maybe cheaper. But you have to wait longer and you also have to know when to sell/trade your coins. Also you don't know what the coin will be worth in the future.

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