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Author Topic: Genesis Mining ticket open for more than 7 months  (Read 193 times)
cmshowers
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December 03, 2017, 03:43:19 PM
 #1

What happened:
I signed up for a Genesis Mining X11 contract on March 21, 2017, with a credit card which should have accrued daily payouts for one moth then paid out a lump sum and then stated daily payouts on April 21, 2017. I did not receive payment and opened a ticket on April 21st. It took them until April 27th to start my daily payouts. However, they never paid me the money owed from March 21st through April 27th. I have opened several tickets and they are now simply closing my new tickets without comment. This is especially suspicious behavior because if you look at the price of Bitcoin at the time they made each payment to me, I would have made money had I received the payments in question but without that money, Genesis Mining received more money from me than they paid out.

Scammer's Website Link:
https://www.genesis-mining.com/

Scammers Profile Link:
https://bitcointalk.org/index.php?action=profile;u=247140

Reference Link:
https://bitcointalk.org/index.php?topic=2259139

Amount Scammed: 0.075BTC/$94.73 (price on April 21st, 2017)/$882.75  (price today, December 3rd, 2017)
Payment Method: Visa

Additional Notes: Do NOT invest with Genesis Mining. They will not fix the problem when they screw up payments.
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December 03, 2017, 04:01:44 PM
 #2

I'm not sure what will happen in this situation, but if you did not receive the product that was paid for and it was purchased via a credit card - do a charge back. It's one of the very few benefits that a credit card offers, so make the most of it. That way the cost will have to be covered by the payment processor (or the merchant if they can recover it later).

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December 03, 2017, 05:57:12 PM
 #3

I had known about their scammy tactics since I've read a post by one of their clients whose lifetime mining contract got shut down because they said it was no longer profitable.
They lured a guy with a lifetime promise, took his money, and in less than 6 months kicked him out saying it's over. No more money for you Sir and no compensation GTFO.
That's what you should be expecting every time you see a cloud mining ad.

Why did you buy a contract in the first place without reading opinions about theme on the forum? By March there had to ba plenty of negative comments here including the one I've just mentioned.


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Fibonacci21
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December 03, 2017, 11:57:29 PM
 #4

Almost the same:
https://bitcointalk.org/index.php?topic=2487178.msg25476233#msg25476233
cmshowers
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December 04, 2017, 12:14:19 AM
 #5

I'm not sure what will happen in this situation, but if you did not receive the product that was paid for and it was purchased via a credit card - do a charge back. It's one of the very few benefits that a credit card offers, so make the most of it. That way the cost will have to be covered by the payment processor (or the merchant if they can recover it later).

Thanks for the advice, Fortify. Unfortunately, the terms of service on my Visa only allow charge backs for one month. Which is actually why Genesis Mining doesn't start paying out for a month on contracts paid for with credit card. Some cards like American Express allow charge backs much longer after the disputed purchase but they also have monthly fees to cover that added risk they take on.
cmshowers
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December 04, 2017, 12:27:11 AM
 #6


Hi, Fibonacci21. I saw your posts in the main Genesis Mining thread before I made my posts. I can't believe they are doing something like that to a big investor such as yourself. I figured they were treating me poorly because my contract was for such a small amount of money and that they would take care of customers like you. You should add notes to your ticket with them linking to your posts here and hopefully they will help you out to cut down on the bad press. Best of luck!
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December 04, 2017, 07:06:53 AM
 #7

There are other places that this report would also be fitting in, perhaps /r/Bitcoin, bitcoin.com forum, Twitter, Facebook etc. Sometimes going public helps put pressure on the situation. I hope you find a solution to this issue.














 

 

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timerland
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December 06, 2017, 08:53:08 AM
 #8

At least you got some of your money back in mining revenue, right? A chargeback wouldn't really be feasible anyways since the price of bitcoin has risen so much anyways, you're probably going to be getting a small percentage of what you started with in terms of bitcoin.

This example is one of the reasons why i personalyl do not like investing in cloud mining at all, your profits are entirely under the control of the company operating the cloud mining company. You have no say in how much profit is distributed and no audits are carried out either.

Hopefully this is a wake up bell for all, since simply closing support tickets without comment is one of the worst things you can do to a customer in my opinion.

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