Scam alert : Do NOT INVEST in Genesis Mining

[deadpoolx]

Be careful with these services. The halving is near, with huge increase in the mining difficulty, while the price does not necessarily follow.

[biggbox]

Existing users with Genesis-Mining, it is advise you send your dust to a XAPO wallet. Otherwise, the transaction fees alone to send out those dust will be way more than what you received.

[milly6]

Update:

Total investment U$419 - 1TH/s

2015-12-17 - 0.15 TH/s - Fee USD 0.00099 per GH/s and day
2015-12-20 - 0.35 TH/s - Fee USD 0.00099 per GH/s and day
2015-12-23 - 0.50 TH/s - Fee USD 0.00095 per GH/s and day

Overpayment - sha256 BTC balance of 0.0032036 successfully added to your account on 2015-12-26

Lowerpayment - sha256 BTC balance of 0.00051456 successfully added to your account on 2016-04-14 [decreases every day]

0.15850811BTC Total received = ROI 1771 Days = Never

Lifetime contracts = money burned.

Not recommend , waste of time and money.

Can we get an update on this taking into account the increase in BTC value. Can you put MAYBE a little more effort into telling us what youve made?? like what was price of btc on days you bouhgt,.. how much now... how much btc made to date... thanks.

[biggbox]

Also, I find it strange that GM could sustain by mining with older hardware. Those old hardware should be inefficient and cost tons of electricity. Shouldn't they be using more efficient miners, 14nm tech, such as S9s?

And what happened to scrypt power they took away from their customers? I understand that scrypt has better longevity than other algos..

[morantis]

If they let you get your ROI, they wouldn't existed in the business.

Wake up. All of the cloudmining companies are scam. Non of them will give you ROI. Giving people their ROI basically means they give you free money. While the difficulty rises constantly its not possible for people to get your ROI.

By buying contracts from a cloudmining company, you are just donating your money to them and they are mining coins with your money. You just share their expenses not their profits. Ffs. Be smart.

And the one and only "cloud mining" operation that gives me ROI is a speculated ponzi business. I've already ROI-ed and it is still paying. Scary stuff.

(P.S: It is not GM and not HF)

Its idiotic for people giving their money to this websites.. LOL

how many mos. did you wait for that ROI. I guess there are too many dumb people to be herded by this companies and to use these dimwits to pay up their expenses.

I am confused, what is the proof of scam here?  I have neither used or not used the site, but it looks like you are saying the word scam and are just expressing your dislike for the site and not how it is a scam.

[Phildo]

Also, I find it strange that GM could sustain by mining with older hardware. Those old hardware should be inefficient and cost tons of electricity. Shouldn't they be using more efficient miners, 14nm tech, such as S9s?

And what happened to scrypt power they took away from their customers? I understand that scrypt has better longevity than other algos..

When you have other people paying for your electricity it's very easy to keep them running forever. It's even easier when the miners don't exist, which could be the case.

[techgeek]

If they let you get your ROI, they wouldn't existed in the business.

Wake up. All of the cloudmining companies are scam. Non of them will give you ROI. Giving people their ROI basically means they give you free money. While the difficulty rises constantly its not possible for people to get your ROI.

By buying contracts from a cloudmining company, you are just donating your money to them and they are mining coins with your money. You just share their expenses not their profits. Ffs. Be smart.

And the one and only "cloud mining" operation that gives me ROI is a speculated ponzi business. I've already ROI-ed and it is still paying. Scary stuff.

(P.S: It is not GM and not HF)

Its idiotic for people giving their money to this websites.. LOL

how many mos. did you wait for that ROI. I guess there are too many dumb people to be herded by this companies and to use these dimwits to pay up their expenses.

I am confused, what is the proof of scam here?  I have neither used or not used the site, but it looks like you are saying the word scam and are just expressing your dislike for the site and not how it is a scam.

Hes stating other HYIP sections which promote to be a cloud mining service, not necessary towards gensis in that sentence.

I wouldnt say cloud mining operations are a scam, but its more of a rip off at some point if the btc price value doesn't match to handle the fees they deduct.

[tmfp]

Also, I find it strange that GM could sustain by mining with older hardware. Those old hardware should be inefficient and cost tons of electricity. Shouldn't they be using more efficient miners, 14nm tech, such as S9s?

And what happened to scrypt power they took away from their customers? I understand that scrypt has better longevity than other algos..

When you have other people paying for your electricity it's very easy to keep them running forever. It's even easier when the miners don't exist, which could be the case.

I have asked them to clarify these points on their self moderated thread, (which they visited today)

https://bitcointalk.org/index.php?topic=602022.msg15225615#msg15225615

We are dedicated to transparency

transparent

tranˈspar(ə)nt,trɑːn-,-ˈspɛː-/
adjective
1.
(of a material or article) allowing light to pass through so that objects behind can be distinctly seen.
"transparent blue water"
synonyms:   see-through, clear, translucent, pellucid, crystal clear, crystalline, limpid, glassy, glass-like, liquid; More
2.
easy to perceive or detect.
"the residents will see through any transparent attempt to buy their votes"
synonyms:   obvious, explicit, unambiguous, unequivocal, clear, lucid, straightforward, plain, (as) plain as the nose on your face, apparent, unmistakable, manifest, conspicuous, patent, indisputable, self-evident;

[InvestexMarkets]

This is the type of hash stats that can pay off well.

{"43200":{"interval":43200,"interval_name":"12 hours","hashrate":17318529817058,"shares":174194688},"intervals":[43200,10800,1350,256,128],"10800":{"interval":10800,"interval_name":"3 hours","hashrate":17536803236498,"shares":44097536},"1350":{"interval":1350,"interval_name":"22.5 minutes","hashrate":18191623494818,"shares":5718016},"256":{"interval":256,"interval_name":"256 seconds","hashrate":18201282871296,"shares":1084881},"128":{"interval":128,"interval_name":"128 seconds","hashrate":17243320614912,"shares":513891}}

[morantis]

If they let you get your ROI, they wouldn't existed in the business.

Wake up. All of the cloudmining companies are scam. Non of them will give you ROI. Giving people their ROI basically means they give you free money. While the difficulty rises constantly its not possible for people to get your ROI.

By buying contracts from a cloudmining company, you are just donating your money to them and they are mining coins with your money. You just share their expenses not their profits. Ffs. Be smart.

And the one and only "cloud mining" operation that gives me ROI is a speculated ponzi business. I've already ROI-ed and it is still paying. Scary stuff.

(P.S: It is not GM and not HF)

Its idiotic for people giving their money to this websites.. LOL

how many mos. did you wait for that ROI. I guess there are too many dumb people to be herded by this companies and to use these dimwits to pay up their expenses.

I am confused, what is the proof of scam here?  I have neither used or not used the site, but it looks like you are saying the word scam and are just expressing your dislike for the site and not how it is a scam.

Hes stating other HYIP sections which promote to be a cloud mining service, not necessary towards gensis in that sentence.

I wouldnt say cloud mining operations are a scam, but its more of a rip off at some point if the btc price value doesn't match to handle the fees they deduct.

so there is no reason for this thread at all, other than to throw information out there that everyone already has, right?  perhaps some sort of self-importance thing?

[Glucose]

Also, I find it strange that GM could sustain by mining with older hardware. Those old hardware should be inefficient and cost tons of electricity. Shouldn't they be using more efficient miners, 14nm tech, such as S9s?

And what happened to scrypt power they took away from their customers? I understand that scrypt has better longevity than other algos..

When you have other people paying for your electricity it's very easy to keep them running forever. It's even easier when the miners don't exist, which could be the case.

I have asked them to clarify these points on their self moderated thread, (which they visited today)

https://bitcointalk.org/index.php?topic=602022.msg15225615#msg15225615

We are dedicated to transparency

transparent

tranˈspar(ə)nt,trɑːn-,-ˈspɛː-/
adjective
1.
(of a material or article) allowing light to pass through so that objects behind can be distinctly seen.
"transparent blue water"
synonyms:   see-through, clear, translucent, pellucid, crystal clear, crystalline, limpid, glassy, glass-like, liquid; More
2.
easy to perceive or detect.
"the residents will see through any transparent attempt to buy their votes"
synonyms:   obvious, explicit, unambiguous, unequivocal, clear, lucid, straightforward, plain, (as) plain as the nose on your face, apparent, unmistakable, manifest, conspicuous, patent, indisputable, self-evident;

I doubt they will answer you anything. But that's a nice try. Let's see what happens...

so there is no reason for this thread at all, other than to throw information out there that everyone already has, right?  perhaps some sort of self-importance thing?

The reason for this thread is quite simple. As I say, I just want to warn other futur investors.
By the way, It seems to be working : several people already thanked me for it and didn't invest after reading this thread.

[fortunecrypto]

Be careful with these services. The halving is near, with huge increase in the mining difficulty, while the price does not necessarily follow.

Still many people fall into this,go check facebook groups and all these people are promoting a lot of cloud mining because they are referral based like mlm many people took the bait of free hash rate and the income they are going to get from referring people..

[Diaz]

Everyrhing involved with bitcoin is a scam, including exchanges.

[Stormspirit]

Everyrhing involved with bitcoin is a scam, including exchanges.

wrong

[biggbox]

They have revived the 1 year X11 contracts.

[tomsmith26]

I have mention to invest some more cloudminings as like as Genesis Mining, hashflare.io or hashnest.com
so which one is the best for long term ? please give me in advance? if available should I take a hosted-mining?
Thank you

[Zeta0S]

I have mention to invest some more cloudminings as like as Genesis Mining, hashflare.io or hashnest.com
so which one is the best for long term ? please give me in advance? if available should I take a hosted-mining?
Thank you

Genesis Mining is the most trustfully, and really own miners.  Cheaper services, like hashocean, Hashie, zeuminer Hashlets, piggy mining, are all gone,.. ponzi scheme`s died whit in a view months or so.

Genesis Mining is still there, providing there reliable service, they are not the cheapest, but they do what they say they do.

Whit-out Genesis Mining i had to pay 0.235 euro cent for kw/h

[tomsmith26]

I have mention to invest some more cloudminings as like as Genesis Mining, hashflare.io or hashnest.com
so which one is the best for long term ? please give me in advance? if available should I take a hosted-mining?
Thank you

Genesis Mining is the most trustfully, and really own miners.  Cheaper services, like hashocean, Hashie, zeuminer Hashlets, piggy mining, are all gone,.. ponzi scheme`s died whit in a view months or so.

Genesis Mining is still there, providing there reliable service, they are not the cheapest, but they do what they say they do.

Whit-out Genesis Mining i had to pay 0.235 euro cent for kw/h

Thank you for your advance. I will do it

[Glucose]

I have mention to invest some more cloudminings as like as Genesis Mining, hashflare.io or hashnest.com
so which one is the best for long term ? please give me in advance? if available should I take a hosted-mining?
Thank you

Genesis Mining is the most trustfully, and really own miners.  Cheaper services, like hashocean, Hashie, zeuminer Hashlets, piggy mining, are all gone,.. ponzi scheme`s died whit in a view months or so.

Genesis Mining is still there, providing there reliable service, they are not the cheapest, but they do what they say they do.

Whit-out Genesis Mining i had to pay 0.235 euro cent for kw/h

Seriously Zeta How can you advertise for Genesis Mining on a Genesis mining scam alert thread ?
Stop it please. I don't want you to post here. Feel free to do your promotional stuff on Genesis Mining thread. That's enough.

Tomsmith : if it's not too late : Do NOT invest in Genesis Mining. You will lose your money.

[Zeta0S]

I have mention to invest some more cloudminings as like as Genesis Mining, hashflare.io or hashnest.com
so which one is the best for long term ? please give me in advance? if available should I take a hosted-mining?
Thank you

Genesis Mining is the most trustfully, and really own miners.  Cheaper services, like hashocean, Hashie, zeuminer Hashlets, piggy mining, are all gone,.. ponzi scheme`s died whit in a view months or so.

Genesis Mining is still there, providing there reliable service, they are not the cheapest, but they do what they say they do.

Whit-out Genesis Mining i had to pay 0.235 euro cent for kw/h

Seriously Zeta How can you advertise for Genesis Mining on a Genesis mining scam alert thread ?
Stop it please. I don't want you to post here. Feel free to do your promotional stuff on Genesis Mining thread. That's enough.

Tomsmith : if it's not too late : Do NOT invest in Genesis Mining. You will lose your money.

Its not up to you if i post here or not, you are not the Bitcointalk boss or something.
I am not advertising, juist giving my opinion, my point of view.