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Author Topic: Genesis Mining - Etherium not paying out - Bankrupt?  (Read 389 times)
coinnoob_za
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July 26, 2017, 02:29:59 PM
 #1

I recently bought 2 Mining contracts on Genesis Mining totaling 6MH/s

As this was done with credit card initially i had to wait 32 days for first payout. The balance accrued as expected. I received one payout initially as expected (All the pictures i will link below of my dashboard, payouts, pending balance etc.)

I also mine Etherium with a mining rig, so i know about the difficulty. As can be seen from my pics below the payout amounts decreased considerably and then something seems to go wrong. They have stopped daily payouts completely. It is not even being logged anymore.
Surely cannot be that the contracts are just not profitable anymore? Last time i checked, I'm mining ETH with my RIG and it's doing pretty ok on the profit.
I only received that once off payment and then no more. I have Logged a support ticket but they just never respond. Initially i also logged a ticket to enquire about something but they never responded to that one.

For now i will monitor it, but it does not look good! Not sure if i am being ripped off, but i was fairly sure that this is not a scam, so don't really know what is going on. In my opinion, just buy your own damn cards even if it is a GTX 1050ti (13.9MH/s) and forget about cloud mining scammers.

Genesis contracts
http://imgur.com/a/TraTH
Genesis Dashboard
http://imgur.com/a/gU5NT
Genesis payouts
http://imgur.com/a/cirlv
Genesis pending balance
http://imgur.com/a/RveyK

My Pending balance shows a - (negative) symbol, and it hasn't moved for a week now. Something really fishy here? Can anybody comment on what happened here?

Update: http://www.livebitcoinnews.com/genesis-mining-customers-complain-lack-payments/
It seems as if things are going belly up for Genesis Mining. Do not buy into this or upgrade anything!

Always do your best, what you plant now, you will Mine Later.
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Gleb Gamow
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November 27, 2017, 01:12:36 AM
 #2

I'm just gonna leave this here (ref.: https://bitcointalk.org/index.php?topic=2467947.0):

Also, the person in the picture is not "Founder Mike Finley", but Genesis Mining CEO Marco Streng.
See also https://cointelegraph.com/news/life-inside-a-bitcoin-mine-interview-with-genesis-minings-marco-streng


Holy fuckin shit, bud! I've never been highly critical of Genesis Mining, but given the above, I now no longer trust them.

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