Genesis Mining is very poor!

[helovescrypto]

I spent almost 4000 US dollars on genesis mining Monero contract (5000 H/s). Since Dec 2017 when my contract began, I received a total of only 1.2 XMR. They have missed 52 days of payouts! You can find so many complaints on twitter and other social media. Thinking of what I can do to protect myself and other people. Any suggestions to my situation?
Be aware! Do not fall into scam, folks!

Discussion on filing law suit and other measures in reddit:
https://www.reddit.com/r/GenesisMining/comments/8bwl8b/its_probably_time_to_start_organising_a_lawyer_to/

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[Tyrantt]

Well I don't know what to tell you.. I don't know what's worse... Is it you investing $4,000 in cloud mining at this time or investing in cloud mining at all... Why didn't you consult or ask someone on the forum about genesis mining? 99% of the users here would tell you not to do it.

What can I tell you now, either try to reach them with any way you can (email,phone call maybe, ticket, social networks,..) or be patient. Sorry to hear that you had invested that kind of money. Good luck tho.

[BitHodler]

Sorry to hear that you had invested that kind of money. Good luck tho.

There is nothing to be sorry for. If people spent a good 10 to 15 minutes just doing some basic level research, one would instantly get demotivated due to all the complaints against genesis mining.

It's not just a few hundred bucks we're talking about. If I am going to invest a few thousand bucks in something, I'll browse through every possible corner of the internet to find out what's going on with that specific site or service.

If what I read about that site or service makes me doubt whether or not it's a good investment, then I simply ditch it and look for an alternative. If I see red flags pointing out how scummy that entire industry is, I will not even look further.

People keep forcing themselves to invest in cloud mining, which is just ridiculous.

[Hamphser]

Sorry to hear that you had invested that kind of money. Good luck tho.

There is nothing to be sorry for. If people spent a good 10 to 15 minutes just doing some basic level research, one would instantly get demotivated due to all the complaints against genesis mining.

It's not just a few hundred bucks we're talking about. If I am going to invest a few thousand bucks in something, I'll browse through every possible corner of the internet to find out what's going on with that specific site or service.

If what I read about that site or service makes me doubt whether or not it's a good investment, then I simply ditch it and look for an alternative. If I see red flags pointing out how scummy that entire industry is, I will not even look further.

People keep forcing themselves to invest in cloud mining, which is just ridiculous.

Not to be surprised yet people do have different mentality when it comes to investments,some people do rush in without any proper knowledge or research and without even thinking that the site do have a bad record or reputation.They do only learn up when they do already experience hardship and problems later on. Reading up comments and advises even just a minute would really already give you the idea if you would make such decision to invest or not.

[magneto]

I spent almost 4000 US dollars on genesis mining Monero contract (5000 H/s). Since Dec 2017 when my contract began, I received a total of only 1.2 XMR. They have missed 52 days of payouts! You can find so many complaints on twitter and other social media. Thinking of what I can do to protect myself and other people. Any suggestions to my situation?
Be aware! Do not fall into scam, folks!

Discussion on filing law suit and other measures in reddit:
https://www.reddit.com/r/GenesisMining/comments/8bwl8b/its_probably_time_to_start_organising_a_lawyer_to/

Tons of people that are experiencing the same issue:

https://www.reddit.com/r/GenesisMining/comments/7ivo8r/no_payouts_since_beginning_of_december/
https://steemit.com/bitcoin/@hw-enthusiast/genesis-mining-missing-payouts-again
https://www.reddit.com/r/GenesisMining/comments/7xsd4z/again_missing_8_days_of_eth_payments/

And the problem is still persisting apparently, even though it was first noticed way back last year.

What I suggest you do is take screenshots of all the proof of the missing payments, organise it nicely and send it to the support. They are the only ones that are able to help you, in this case. Do you know by the way why this might be caused? is it because your contract has been terminated due to insufficient profits to pay for maintenance fees?

But again, there is a reason why we advise against investing in cloud mining, even Genesis. They are all shady businesses. And this is a prime example of why, your profits are completely in their control, and if they say that you shall not make profits, you won't.

[Koro-Sensei]

I spent almost 4000 US dollars on genesis mining Monero contract (5000 H/s). Since Dec 2017 when my contract began, I received a total of only 1.2 XMR. They have missed 52 days of payouts! You can find so many complaints on twitter and other social media. Thinking of what I can do to protect myself and other people. Any suggestions to my situation?
Be aware! Do not fall into scam, folks!

Discussion on filing law suit and other measures in reddit:
https://www.reddit.com/r/GenesisMining/comments/8bwl8b/its_probably_time_to_start_organising_a_lawyer_to/

It's already there and you'll have to deal with it because you didn't choose the right thing. GM is popular for being a legit but turns out to so many into scams. This topic is not a surprise it is an active topic we see here each day it's either GM or cloud mining the topics for these two are endless.

[Xavofat]

Sorry to hear that you had invested that kind of money. Good luck tho.

There is nothing to be sorry for. If people spent a good 10 to 15 minutes just doing some basic level research, one would instantly get demotivated due to all the complaints against genesis mining.

A lot of people are scammed due to their referral program.  They added that so that people who were losing money could basically get what they perceived to be "profit" by scamming more suckers into the program.  People who were halfway through their contract and weren't sure whether they were going to make profit also started using this.

Genesis Mining is favoured by the major Bitcoin media sites, they're given positive reviews and information from people on YouTube who are part of the referral program and they use plenty of tactics to try and keep their existing "customers" on board with them as well.

OP's probably beating himself up enough, you don't have to do it for him just because you have the right sources of information.

[boyshx]

I spent almost 4000 US dollars on genesis mining Monero contract (5000 H/s). Since Dec 2017 when my contract began, I received a total of only 1.2 XMR. They have missed 52 days of payouts! You can find so many complaints on twitter and other social media. Thinking of what I can do to protect myself and other people. Any suggestions to my situation?
Be aware! Do not fall into scam, folks!

Discussion on filing law suit and other measures in reddit:
https://www.reddit.com/r/GenesisMining/comments/8bwl8b/its_probably_time_to_start_organising_a_lawyer_to/

Yes there is solution, you can expect to get back your investment! So for that purpose I believe you will need to raise hundreds of tickets to support team and be on their ass until they make payout for you. Off course they will make many reason but be strong on your opinion and keep asking tat everyday. By no means they will lock you so dont worry about that as you have paid the money already.

I will suggest that if you get your money back (4K USD) then just take it and run as far as you could from the genesis mining and all kinds of cloud mining in general. Hope you do realised that they dont work anymore.

[buwaytress]

There is nothing to be sorry for. If people spent a good 10 to 15 minutes just doing some basic level research, one would instantly get demotivated due to all the complaints against genesis mining.

It's not just a few hundred bucks we're talking about. If I am going to invest a few thousand bucks in something, I'll browse through every possible corner of the internet to find out what's going on with that specific site or service.

If what I read about that site or service makes me doubt whether or not it's a good investment, then I simply ditch it and look for an alternative. If I see red flags pointing out how scummy that entire industry is, I will not even look further.

People keep forcing themselves to invest in cloud mining, which is just ridiculous.

I would hope one day I would become so wealthy that it only takes me 10 to 15 minutes to make a decision on $4,000! It's frightening to see the amount of wealth just flowing into anything remotely crypto related - and to me cloudmining is possible the remotest thing related to crypto.

I'm really tired with hearing all these scam companies get away with it. They're still pulling a lot of weight and their reputation has hardly taken a dent in the corporate world. Hope these lawsuits get their act together and smash Genesis with a huge class action. I know the people who invested are to blame, but perhaps we underestimate just how easy it can be to fall for scams like cloud mining... even with research. Yes, one's born every minute but still...

[timerland]

I spent almost 4000 US dollars on genesis mining Monero contract (5000 H/s). Since Dec 2017 when my contract began, I received a total of only 1.2 XMR. They have missed 52 days of payouts! You can find so many complaints on twitter and other social media. Thinking of what I can do to protect myself and other people. Any suggestions to my situation?
Be aware! Do not fall into scam, folks!

Discussion on filing law suit and other measures in reddit:
https://www.reddit.com/r/GenesisMining/comments/8bwl8b/its_probably_time_to_start_organising_a_lawyer_to/

Sometimes this makes you really wonder if they have liquidity problems and aren't able to pay out customer profits as a result.

Seems very plausible to me, otherwise they wouldn't have so many cases of people not receiving their payouts for weeks or even months on end. That's completely unacceptable.

Genesis Mining is a no go for me for sure. It has never been of interest to me because of the fact that their affiliate marketing scheme essentially means that people are encouraged to give biased reviews about how profitable their investments are. In reality, you'll be lucky to even break even in a crypto bull market. On top of that, you need to deal with payout issues, when you don't have a high chance of getting your initial investment back in the first place. Definitely avoid.

I don't think you have a choice, really. You just have to be patient until they finally respond to you.

[milewilda]

Sorry to hear that you had invested that kind of money. Good luck tho.

There is nothing to be sorry for. If people spent a good 10 to 15 minutes just doing some basic level research, one would instantly get demotivated due to all the complaints against genesis mining.

A lot of people are scammed due to their referral program.  They added that so that people who were losing money could basically get what they perceived to be "profit" by scamming more suckers into the program.  People who were halfway through their contract and weren't sure whether they were going to make profit also started using this.

Genesis Mining is favoured by the major Bitcoin media sites, they're given positive reviews and information from people on YouTube who are part of the referral program and they use plenty of tactics to try and keep their existing "customers" on board with them as well.

OP's probably beating himself up enough, you don't have to do it for him just because you have the right sources of information.

Referral system would always been present yet this is one of the ways on how to expand or to progress such company.Normally they do offer referral bonuses which there are really people would strive on to invite more people to the site without minding or concerning on the possible things that they might experience later on as long they would able to break even or can make some profits in the end of the contract then they will surely done this thing without any doubt.

[max2607]

I spent almost 4000 US dollars on genesis mining Monero contract (5000 H/s). Since Dec 2017 when my contract began, I received a total of only 1.2 XMR. They have missed 52 days of payouts! You can find so many complaints on twitter and other social media. Thinking of what I can do to protect myself and other people. Any suggestions to my situation?
Be aware! Do not fall into scam, folks!

Discussion on filing law suit and other measures in reddit:
https://www.reddit.com/r/GenesisMining/comments/8bwl8b/its_probably_time_to_start_organising_a_lawyer_to/

Sometimes this makes you really wonder if they have liquidity problems and aren't able to pay out customer profits as a result.

Seems very plausible to me, otherwise they wouldn't have so many cases of people not receiving their payouts for weeks or even months on end. That's completely unacceptable.

Genesis Mining is a no go for me for sure. It has never been of interest to me because of the fact that their affiliate marketing scheme essentially means that people are encouraged to give biased reviews about how profitable their investments are. In reality, you'll be lucky to even break even in a crypto bull market. On top of that, you need to deal with payout issues, when you don't have a high chance of getting your initial investment back in the first place. Definitely avoid.

I don't think you have a choice, really. You just have to be patient until they finally respond to you.

Actually people should have stopped investing in these schemes long ago the problem with this world is they never learn from the past or their mistakes.
First everyone cursed hashocean and whole idea of cloud mining calling it a scam and finally adopting to genesis mining just to make few bucks in 2 years
I personally was going to buy the same monero contract but instead bought 2 xmr for only 0.02 well today just after 6 months the value has increased by 2.5 times. There are many opportunities around which are better than cloud mining but people nowadays are too dumb to realise it

[aoihs00]

I don’t understand why these companies are still around here. I mean most of the people do know that it’s biggest Ponzi scam they can experience. I suspect that it is all about the new comers who come join these kind of schemes straight away. The calculator of these cloud miners is bad ass which creates the greed among these new people and thus they fall for heavy investment into it. Can’t imagine that we still talk about them on the forum. Lol.

[generatorhd]

Cloud mining is like a fake hyip site. I would never join one even if it was one cent to sign up.

[BlackPanda]

We all know that genesis is one of the trusted cloud mining, but in fact that genesis must have its flaws and it has been predicted before because most of the cloud mining is indeed a risky thing. I still can not believe why there are still people who want to invest in cloud mining. when we already know all that cloud mining is not reliable and has a lot of problems. there are many other jobs that are far more useful and make money. For me that people who still want to invest in cloud mining are lazy people !!!

[Wipro]

Cloud mining is like a fake hyip site. I would never join one even if it was one cent to sign up.

Since you are newbie you have better understanding about the cloud mining investment but even in this field Genesis and Hashflare. There cloud mining contracts are helping the people to earn more money.
Then if you want to get non trouble mining investment you need to buy the GPU cards or ASIC hardwares.
THose will be given the decent hash power on mining the various cryptos. Please look into the good algorithm else you cannot more money.

[shield132]

I spent almost 4000 US dollars on genesis mining Monero contract (5000 H/s). Since Dec 2017 when my contract began, I received a total of only 1.2 XMR. They have missed 52 days of payouts! You can find so many complaints on twitter and other social media. Thinking of what I can do to protect myself and other people. Any suggestions to my situation?
Be aware! Do not fall into scam, folks!

Discussion on filing law suit and other measures in reddit:
https://www.reddit.com/r/GenesisMining/comments/8bwl8b/its_probably_time_to_start_organising_a_lawyer_to/

No man, Genesis Mining isn't poor, only investors are poor because they invest here blindly and with a hope of good profit in a short time.
Btw I have no idea if people invest in mining, why don't they choose hashnest because at least here you can sell hashrates at anytime and get money back.

[generatorhd]

Sorry to hear that you had invested that kind of money. Good luck tho.

There is nothing to be sorry for. If people spent a good 10 to 15 minutes just doing some basic level research, one would instantly get demotivated due to all the complaints against genesis mining.

It's not just a few hundred bucks we're talking about. If I am going to invest a few thousand bucks in something, I'll browse through every possible corner of the internet to find out what's going on with that specific site or service.

If what I read about that site or service makes me doubt whether or not it's a good investment, then I simply ditch it and look for an alternative. If I see red flags pointing out how scummy that entire industry is, I will not even look further.

People keep forcing themselves to invest in cloud mining, which is just ridiculous.

Not to be surprised yet people do have different mentality when it comes to investments,some people do rush in without any proper knowledge or research and without even thinking that the site do have a bad record or reputation.They do only learn up when they do already experience hardship and problems later on. Reading up comments and advises even just a minute would really already give you the idea if you would make such decision to invest or not.

i believe this too but mainly its because people want fast return on investment and another reason is because there transactions are anonymous

[onebtcforlife]

Most of the people are suggesting from the beginning not to invest in cloud mining website but without any research, you just invested in it. Not only you there are many people facing the same situation with the Genesis mining they are not giving payouts on time. What was the major problem till now they are not updating?

[BitHodler]

i believe this too but mainly its because people want fast return on investment and another reason is because there transactions are anonymous

That makes no sense.

Firstly, cloud mining, or basically any form of mining in general, is a very slow form of generating income. I very much doubt that people believe they can book quick profits here, people aren't that retarded.

Cloud mining offers convenience and a passive income stream, and that's the main reason people like it. People however don't realize that there is nu such a thing as actual income as long as they haven't ROI'd yet.

Secondly, there is nothing anonymous about cloud mining. Everything you do happens on their site, which means they know everything about you that you allowed them to know, and from there it's just a waiting game. It's an empty hole.