end of genesis mining ?

[magneto]

4 day in a row no payout .

friends that invest on ETH did not get their payout in the last 4 day.

How much hashing power did he buy in his contract?

If it was something small then it could be possible that Genesis Mining is going to consolidate all the previous payouts into a big payout in the future because the payouts are so small that it's not worth it for them to send it since tx fees will exceed the actual amount/the payout is below dust limit.

But they have indeed received lots of complaints recently and i would not invest in them with my own btc.

Contact their support, and see what they say.

[BitMaxz]

4 day in a row no payout .

friends that invest on ETH did not get their payout in the last 4 day.

How much hashing power did he buy in his contract?

If it was something small then it could be possible that Genesis Mining is going to consolidate all the previous payouts into a big payout in the future because the payouts are so small that it's not worth it for them to send it since tx fees will exceed the actual amount/the payout is below dust limit.

But they have indeed received lots of complaints recently and i would not invest in them with my own btc.

Contact their support, and see what they say.

I think there are lots of investors are not getting paid these days when the price is continues decreases well its a cloud mining there is no guaranteed that you can honestly make a good profit in cloud mining its not really profitable and most of the cloud mining site are scam..
Hope that he can be still withdraw his investment there if ever he get his investment he was lucky if not it will be the same as other cloud mining site..
And mostly honestly newbie are posting here because most of high rank member here are not investing in cloud mining because its waste of time to invest that sooner you can be scam.. If you really wanted to mine much better to buy your own rig or good specs of PC to mine altcoin much more safe than investing in cloud mining site..

[jorneyflair]

4 day in a row no payout .

friends that invest on ETH did not get their payout in the last 4 day.

Well i'll share my personal experience here.

My contract expired/terminated when halving happened, because of the fact that my earnings were less than the amount of maintenance fees that i was obliged to pay to genesis mining. But just before that, i received payments only once every few days instead of daily because the payouts were so low that they can't put it in a single transaction.

This could apply to you to, though it might just be genesis mining not fulfilling their promises. Contact their customer support and demand a response, that's the best option. They are not a good way to make money but they are not a scam either.

[pinkflower]

Delayed payouts is the first sign that a cloudmining site is having financial troubles. Beware of the second sign, and thats customer support starts ignoring your concerns and questions about nonpayment of your mining contracts. Then the final sign, they will email their users that offer buying back those contracts at lower prices than the users bought them for.

[ss890]

Cloud miners has always been scammy no question about it. The business is little risky because you never know when does the mining will get very difficult and maintenance would kill the profits in the future. I'm not sure what's happening with cloud mining now a days but that is for sure all the news about bitcoin going illegal in different countries which impact the bitcoin industry in negative way always.

This adds up bogus mining stuff around the cloud miners leading to scams and ponzi schemes. The thing is we should know that investing in such way is not the trusted way. Let's see how genesis tackle the current scenario.

[commenkiz]

we are buying ETH Contract which means no maintenance fees , so there is no reason they are blocking us

myself buying 15mh contract , my friend is buying 20 , and the rest is just 10

all of us still no payout.  5-6 day

so bitcoin pumped back to 3900 , so i assume they will start giving us back ?

[btcney]

4 day in a row no payout .

friends that invest on ETH did not get their payout in the last 4 day.

This happened a lot of times with me and i just waited, eventually the payouts come.

If you are concerned then message their support.

They are a ripoff. however i would not call them a scam since they seem to actually have a mining farm going on, so at least they are not just a ponzi operation. However, that doesn't make them profitable by any means.

[BitHodler]

They are a ripoff. however i would not call them a scam since they seem to actually have a mining farm going on, so at least they are not just a ponzi operation. However, that doesn't make them profitable by any means.

Genesis mining is mining hot air. If they are as they say they are, and that's a big player in the mining industry, people should be able to see the addresses their block rewards are being sent to.

And exactly this is something that doesn't seem to exist. People from the very early days years ago, have been asking for their mining addresses, but genesis mining blatantly ignored all people looking for this information.

Genesis mining is in fact a ponzi, and one with a solid amount of marketing behind it. This explains how they manage to continue paying people out, because as long as fresh money comes in, they will remain operational.

[BlackPanda]

Cloud miners has always been scammy no question about it. The business is little risky because you never know when does the mining will get very difficult and maintenance would kill the profits in the future. I'm not sure what's happening with cloud mining now a days but that is for sure all the news about bitcoin going illegal in different countries which impact the bitcoin industry in negative way always.

This adds up bogus mining stuff around the cloud miners leading to scams and ponzi schemes. The thing is we should know that investing in such way is not the trusted way. Let's see how genesis tackle the current scenario.

since the beginning of cloud mining is not the right way to invest. we will just throw away and lose the money we have. as you said that today almost all cloud mining is a scam and also has a PONZI system. do not ever try to sign up and invest with cloud mining, our time and thoughts will be messed up by thinking of a futile thing. just like genesis mining, although it is still paying but we are all already convinced that all cloud mining is not convincing.

[pinkflower]

Cloud miners has always been scammy no question about it. The business is little risky because you never know when does the mining will get very difficult and maintenance would kill the profits in the future. I'm not sure what's happening with cloud mining now a days but that is for sure all the news about bitcoin going illegal in different countries which impact the bitcoin industry in negative way always.

This adds up bogus mining stuff around the cloud miners leading to scams and ponzi schemes. The thing is we should know that investing in such way is not the trusted way. Let's see how genesis tackle the current scenario.

To be fair with Genesis, they did a good job in maintaining their business for this this long considering their size. Most cloudmining sites dont have a lifespan of more than 2 years. Marketing and having whales invest in it from the beginning really made it go a long way.

But it will all end soon.

[PACIFICADOR]

4 day in a row no payout .

friends that invest on ETH did not get their payout in the last 4 day.

I will always Stay away from any of so called cloud mining sites.

[savioroshan]

In my opinion just wait for 2 more days, definitely they will pay you. Genesis mining is not a scam. They always pay me once in a week. But they always pay me. I think its depends upon the profitability of your contract. Your daily payout from mining must have reduced. If that's the case they will accumulate  your few days earnings together and will send it to your address. They do it for me like that.

[kairo8758]

If there's no payout or you are not hearing anything from them, then you gotta be scammed.
The cloud mining is always using HYIP model.
It's like a money game for me than the definition of mining itself.
Stay away from this kind of business.

[IanFoxley]

we are buying ETH Contract which means no maintenance fees , so there is no reason they are blocking us

myself buying 15mh contract , my friend is buying 20 , and the rest is just 10

all of us still no payout.  5-6 day

Well that is why then, you do not really have much hashpower at all, so you do not get enough ETH a day for them to send out to you as what you get each day is not reaching their minimum payout limit.

If they did send you daily payouts it would be small and then over time your wallet would suffer with all the transactions on it, all those dust payouts.

Go to your payouts page, at top of page is some text called Quick Information. You will see some text with the following

Missing ‘transaction hashes’ means that your payout is being balanced until its paid out. Please also see the minimum thresholds for a payout here.

Then you can click there and a box pops up with all the minimum threshold amounts.

So for ETH you need to have accumulated 0.05 ETH in payouts before they send it out.

Looking at a hashrate calculator with 15 MHs you only will get around 0.08 ETH a month currently, so that means its gonna take a few weeks at least before they send anything out to you.


Thats all it is. they aren't scamming you.

[carlfebz2]

4 day in a row no payout .

friends that invest on ETH did not get their payout in the last 4 day.

I already expected this thing to happen on Genesis on which there would really be the day that they would stop on paying out their investors.Checking back in the previous months they do have already some complaints about payout matters which I do suspect that they are already starting to have problems on it and sooner or later they will surely plan an  exit scam.