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Author Topic: This is your future if you invest in genesis mining  (Read 109 times)
anonymousx
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December 30, 2017, 03:15:17 PM
 #1

Quote
Hi XXXX

Thank you for contacting us and we apologize for the delayed reply.    

I am sorry to inform you that your contracts have been terminated.

As it was stated in the contract conditions,in the event of a contract becoming unprofitable (i.e. the payout can’t cover the maintenance fee), the resulting daily payout will be zero. After that, the contract will continue to mine for 60 days. This means that we will take care of the maintenance fee in the hope that your contract becomes profitable again. This may happen if the mining network difficulty decreases and/or Bitcoin price increases. If the contract does not return to profitability in this period it will be terminated because the mining machines are consuming resources (electricity, cooling, hosting, servicing, etc.) which cannot be paid with their generated payouts.

Best regards,
Marcus
Genesis Mining Customer Service

Just a heads up for a big loss.
[really bitcoin mining can't cover electricity nowdays lol]
Enjoy!
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December 30, 2017, 11:49:07 PM
 #2

Quote
--Snip--

Just a heads up for a big loss.
[really bitcoin mining can't cover electricity nowdays lol]
Enjoy!

Well that's actually the future of every cloud mining investors not just on genesis mining. Most cloud minings today are just scams/ponzi and the few legit ones on the other hand are unprofitable  Roll Eyes

Meanwhile the true mining where you will get an actual hardware is profitable (in most cases) but it depends on how you manage things.

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December 31, 2017, 01:04:37 AM
 #3

Wow, now we know what happens when the mining income becomes so low and finally reaches to 0. I admit I was thinking about what they would say since some time ago... That is the truth behind the "lifetime"contract. Sorry for your loss.

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January 01, 2018, 12:04:14 AM
 #4

Wow, now we know what happens when the mining income becomes so low and finally reaches to 0. I admit I was thinking about what they would say since some time ago... That is the truth behind the "lifetime" contract. Sorry for your loss.
Oh, no. I thought the lifetime contract will be good and legit, but it is totally different than I thought. Luckily I never invest and try Cloud Mining. I used to want to try and get a profit, but I do not know how to depo and finally I break the plan. I'm glad now that now I know about the secrets of Cloud Mining especially the lifetime contract which is said to be a good thing. But do not get me wrong, if you come Cloud Mining at the right time, maybe you'll have a different story. Is there still legit Cloud Mining now? So we can make profit.

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January 01, 2018, 03:14:28 AM
 #5

Most of cloud mining here are turn to scam after a week or a month or more on months,but still no one can afford to give nonstop mining and if we have legit like that you can earn by just a little.We already have legit mining here coinpot.co.,faucethub.io but it's not worth it because more current usage than the profit and also some mining in telegram are legit but you need to invite first before you earn.

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January 01, 2018, 04:26:05 AM
 #6

cloud mining sites are not always trustable,  as we have seen so many cloud mining sites in past turned scam , best is buying  good hardware like to mine bitcoins and that also depends on the electricity charges , or else we need buy and hold it for longer time  , once bitcoin price rises high then better sold with profit rate.

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January 01, 2018, 08:22:12 AM
 #7

This is why I don't trust or even trying to invest in any of those cloud mining sites and even the legit ones because there are always chances that they will turn into scam if they find it not profitable anymore and those lifetime contracts will be useless (operating for a very long time doesn't mean that there's no chance that they will not scam their investors). They are not even profitable, maybe if you are one of those people who invested first. Much better if you use that money to buy mining hardware and mine by yourself or buy Bitcoin and sell when you already made a profit.
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January 01, 2018, 09:56:28 AM
 #8

Completely expected from such a piece of shit company. This is why I like my PoS earnings. Highly recommended.

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January 01, 2018, 11:01:14 AM
 #9

Just be careful mate, yes genesis in trusted cloud mining site but we do not know until when because most of cloud mining does not exist for long period of time and they will turn to be scam site that is why i always recommend dont put big amount of money in this kind of method, much better to focus in trading or holding a coin and that is much profitable.
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January 01, 2018, 12:59:17 PM
 #10

Not only genesis but alternate cloud minings are good and don't run away with your money but all are obviously proved profitless when it comes to payout day.
They initially calculate decent profits from your deposits but later they mess up with that calculation by telling you something similar as OP has quoted.
It is most better to keep your money in pocket than to invest in such worthless schemes
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January 01, 2018, 01:58:58 PM
 #11

Not only genesis but alternate cloud minings are good and don't run away with your money but all are obviously proved profitless when it comes to payout day.
They initially calculate decent profits from your deposits but later they mess up with that calculation by telling you something similar as OP has quoted.
It is most better to keep your money in pocket than to invest in such worthless schemes
There are many other ways to invest the money we have. I think we can choose a better way and also more promising.
Cloud mining is not bad, but I think we can do far better and more useful things that can bring in more profit.

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January 01, 2018, 03:46:14 PM
 #12

Quote
Hi XXXX

Thank you for contacting us and we apologize for the delayed reply.    

I am sorry to inform you that your contracts have been terminated.

As it was stated in the contract conditions,in the event of a contract becoming unprofitable (i.e. the payout can’t cover the maintenance fee), the resulting daily payout will be zero. After that, the contract will continue to mine for 60 days. This means that we will take care of the maintenance fee in the hope that your contract becomes profitable again. This may happen if the mining network difficulty decreases and/or Bitcoin price increases. If the contract does not return to profitability in this period it will be terminated because the mining machines are consuming resources (electricity, cooling, hosting, servicing, etc.) which cannot be paid with their generated payouts.

Best regards,
Marcus
Genesis Mining Customer Service

Just a heads up for a big loss.
[really bitcoin mining can't cover electricity nowdays lol]
Enjoy!
Just as expected this is why I don't really bother to invest on these cloud minings because no matter how reputable or legit they are sooner or later you would really experience problem when difficulty do rise up together with the maintenance fees and other add ups which would result to break even on your generated income per daily basis and as being said on their message they would really terminate a contract once you do hit up that situation. How sad.


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January 01, 2018, 07:05:22 PM
 #13

Expecting to earn profit out of a cloud mining is totally pointless. It has always been said again and again that cloud mining websites or contracts are nothing but a waste of money, but i don't understand why people still invest in them even after knowing it. The only thing you can expect to get from such websites is disappointment, and disappointment you will get at the end of the day.


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January 01, 2018, 08:43:38 PM
 #14

Many thanks for sharing. There were three legit cloudminers, hashflare, genesis and eobot. Genesis and hashflare cut contract. Hashflare doesn't withdraw anymore under 0.05 BTC. Eobot seems to be still running proper.
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January 01, 2018, 09:11:38 PM
 #15

i don't understand why people still invest in them even after knowing it.

It's actually very simple. Nowadays social media is full of shills promoting these cloud mining services, where they proudly share how much passive income they generate on a daily basis. If there is one thing that people here are looking for, then by far it's a long term passive income stream. The hunger for such an income stream makes these people go nuts on everything that even potentially might help them achieving this. Cloud mining is by far the most popular option since it doesn't require any understanding of mining, it also doesn't require large initial investments, and others are doing it as well, so there is less of a barrier for them.
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January 01, 2018, 09:31:22 PM
 #16

Every company has to make profit and the are inherent risks that need to be considered

Take Gold Mining for example, there are costs there too and if it becomes too costly to extract that they may well close the mine.

Its the same with Genesis

I have been mining with Genesis Contracts since Nov 2016 and so have many of my friends, some are making full time incomes from it

None have any voided contracts, Bitcoin Mining Contracts are highly profitable so don't understand this post at all

When did the poster start mining his Bitcoin ?

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January 01, 2018, 10:11:56 PM
 #17

I do not like cloud mining, but your post is very vague, it does not have very relevant details.

Look:
Quote
Hi XXXX

Thank you for contacting us and we apologize for the delayed reply.    

I am sorry to inform you that your contracts have been terminated.

As it was stated in the contract conditions,in the event of a contract becoming unprofitable (i.e. the payout can’t cover the maintenance fee), the resulting daily payout will be zero. After that, the contract will continue to mine for 60 days. This means that we will take care of the maintenance fee in the hope that your contract becomes profitable again. This may happen if the mining network difficulty decreases and/or Bitcoin price increases. If the contract does not return to profitability in this period it will be terminated because the mining machines are consuming resources (electricity, cooling, hosting, servicing, etc.) which cannot be paid with their generated payouts.

Best regards,
Marcus
Genesis Mining Customer Service

It has no date and it does not speak of which contract they are terminated.
What is the contract they are talk and what date did you receive this email?
How much did you invest and on what day did you invest?


Just a heads up for a big loss.

please provide the details I requested

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January 01, 2018, 10:28:05 PM
 #18

There is nothing new here, if you believe any cloud mining's nice words, you really deserve this.
They get money from you and sell hashes which means they can cover cost of hardwares + they take some extra fee to cover electricity and etc. And after all they can to sell their hardware. They get big profit from it so cloud mining doesn't worths. No one will print pure 100$ for you in exchange of 70$.

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silverbitcoin
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January 02, 2018, 12:19:19 AM
 #19

Hi Guys,

No need to wait for Genesis Mining guys. you can get a lifetime / open ended Bitcoin mining contract from CCG Mining. Get it before it's sold out like Genesis! Use my link as a token of appreciation.

https://www.ccgmining.com/aff.php?aff=812

I have done my research through googling and youtubing for a while, and I have found no fool play, thus I signed up. All their pictures and videos are legit (I used Google image reverse service). But of course there is always risk in investment not only in cypto but also other type of investment. Do your own research as well for own peace of mind. At least that what I did. Smiley

Cheers!
hashray
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January 02, 2018, 06:31:35 AM
 #20

Hi Guys,

No need to wait for Genesis Mining guys. you can get a lifetime / open ended Bitcoin mining contract from CCG Mining. Get it before it's sold out like Genesis! Use my link as a token of appreciation.

https://www.ccgmining.com/aff.php?aff=812

I have done my research through googling and youtubing for a while, and I have found no fool play, thus I signed up. All their pictures and videos are legit (I used Google image reverse service). But of course there is always risk in investment not only in cypto but also other type of investment. Do your own research as well for own peace of mind. At least that what I did. Smiley

Cheers!

CCG Mining?
10 TH/s 3,615 USD??
Genesis only 175 per TH/s
I will keep waiting.
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