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Author Topic: Genesis Mind, they have very high maintenance commissions  (Read 345 times)
Esmoof
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June 20, 2017, 05:52:23 PM
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Beware of mining in Genesis Mind. They have very high maintenance commissions, they do not deserve to be mined there charge a large part of the mine. I did about 10 days ago that I made a payment to contract the mine and still I have not active the service, I say in the support that I have to wait 30 + 2 days !!!! O_o Shocked
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Decoded
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June 23, 2017, 05:40:57 AM
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Did you mean Genesis Mining?

It's a known fact that Genesis Mining has been selling 100% unprofitable plans. It may be that they actually have hashpower, we can't tell, but either way, you won't get your money back. I fell for the trick one and spent 0.05 BTC and I've only received less than 0.01 back from them. They stopped paying me out because the "fees were too high". Just think about it, why would someone offer you miners at a rate that you would make profit? They could mine for themselves.

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cissrawk
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June 23, 2017, 05:43:19 AM
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Yeah, genesis fee now is too high. Well since im already on my profit and get my investment back, i still use it and not do deposit again. Well, sometime i receive free power because use promo code on youtube for long time ago.

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June 23, 2017, 10:15:37 AM
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which is also stupid, you don't need any real maintanance for the miners, they are operative 24/7 there is no baby sitting, just cleaning every 3 months, which can be done in few hours with an air compressors

basically that is a fee that steal your profit, this si why cloud are scam even if they look legit, don't cloud minig buy your gear and do mining yourself or you will never roi
BitHodler
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June 23, 2017, 10:54:31 AM
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The fees of genesis mining are the least you should be concerned about. It may sound harsh, but you'll never be able to generate your initial investment back with this garbage.

Just move on and don't put your hard earned funds into whatever cloud mining service ever again. It's a black hole that swallows everything you throw in it. It's pure capital destruction.

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June 23, 2017, 11:55:48 AM
 #6

for years people have been saying cloud mining is not profitable and nobody ever listens until they invest and waste their time and money to realize it on their own.

the only case which i have ever seen cloud mining be profitable was when you could buy GHS and mine right away but be able to sell it on the market just as fast like trading an altcoin and make profit. if you could ever find something like that, and if you are good at trading then consider investing in it.

Buying the dip...
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June 24, 2017, 05:08:58 AM
 #7

I really do not understand how it is possible for newbies to still fall into GM trap after SO MANY THREADS stating they re not profitable. I guess fancy website and google ads can sell anything.

Sorry for your loss bud, next time do a bit reading before you send your money.

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June 24, 2017, 05:51:39 AM
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Genesis Mining is projected to be a "legal scam" operating system. You buy their hashrate and after a few months you keep getting less and less payment in a day. They justify this with increased difficulty. This maybe true for bitcoin but for altcoins which they also offer mining it is not true, I don't see any fall in hashrate during these 2 months I am mining with my cards at home. Sounds like they are just some scam artists. There is another bad thing about them, you cannot sell your hashrate so you cannot get out of there.

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