[SCAM WARNING] - Genesis Cloud Mining Platform

[bechti44]

 Dear community,

Who Scammed?
I want to warn you of the Bitcoin Mining plattform "Genesis Mining"

They claim to be the World leader in Bitcoin Mining and so far I have found good reviews.
Website: https://www.genesis-mining.com/

What Happened?
2 Months earlier, I bought 2.5 th's for testing ($146.71). BTC was mined to my account and everything looked fine (at first!).
I couldn't cash out BTC because the amount mined was too little (yet).
http://www.julianbechtold.de/media/Genesis/purchase.png

All of a sudden, my balance showed -0.000 BTC.
http://www.julianbechtold.de/media/Genesis/balance.png

I contacted the support, who said its an temporary issue. Ticket was closed.
http://www.julianbechtold.de/media/Genesis/support_answer1.png

Two weeks later I contacted the support again, who claimed I was too stupid to look at my balance sheet.

Now I contacted the Support again. Just 2 Months after buying the mining, they claim my $147 investment is puffed into the air since market fees got higher than BTC outcome. with other words:

right now, no mining plan at genesis is profitable. Its a 100% loss investment

this is because the fees are 0.17 per th's. so even if you purchase 1000 th's for 30'000$, you will have higher fees than the mining output. My ticket was immediately closed after the support wrote the following:

http://www.julianbechtold.de/media/Genesis/support_answer.png


My original Question on why my balance shows -0.0000 did not get answered by the way

[masulum]

Another scam cloud mining, If they are saying if your money is gone because mantenance fee, i think you can't do anything now. This is happen to me with different company. Forget about to get your money back, because they always say if your money for maintenance fee. After several answer they give to you, they will blocking you. If you know Hashflare, i am victim from this companies. What happen with you today, it happen to me on 2018. First, they increased minimum withdraw. Bitcoin drop from ATH, they say if electricity cost more higher than my mining results. They said if i must pay maintenance fee until end of contract.

Btw, Please move your thread to Scam Accusation section

[crairezx20]

This is not the right place to post this scam I think it is better to move this thread to scam accusation here https://bitcointalk.org/index.php?board=83.0

Most of cloud mining sites including genesis mining is not  actually profitable and most of them are a scam I'm one of the victims of cloud mining that I thought it will give me profits but all of them end up scam all my withdrawal are stuck. So I decided to buy my own rig to mine altcoins.

[bechti44]

I know I can throw that money in the bin, that's why I luckylie tested with 140$ only.

So far, I have also sent a message to the CEO, Marco Streng on Linked In. I wonder what he answers.

By the way, my images do not appear with the [img'] tag. Do they have to be approved by moderator?

[Rikafip]

I know I can throw that money in the bin, that's why I luckylie tested with 140$ only.

So far, I have also sent a message to the CEO, Marco Streng on Linked In. I wonder what he answers.

By the way, my images do not appear with the [img'] tag. Do they have to be approved by moderator?

Good thinking, with investing smaller amount at first. But what you have to know about cloud mining is that they are either straight scam, or not profitable at all. It's better to just buy BTC or some other crypto that you want to "mine" than giving money to these dubious companies.
Regarding why your pictures are not showing up - you have to be at least Jr Member to be able to do that.

[bechti44]

Just a short update since they are advertising black friday:

BTC Mining still unprofitable. The output is still 0. My Account Balance is still showing -0.0; Staff is not answering; CEO also did not answer.

The funny thing is: It was clear from the start that it would not be very profitable by it self but I was looking fot a cheap way to convert my $ into BTC over time without market fees. My own experiments with miners clearly showed that Genesis would be just so slightly profitable (~1% annual revenue) even with fees. Who would ever think that they would claim inprofitability and all rewards after just 2 Months despite own tests beeing profitable... The only Issue at home is, that I cant just blow Gigawatts through my Powerline

Thats that. With that update, I delete the Genesis Mining link from my Favourites. I wish you all a happy day.

[marlboroza]

So they can turn off miners (if they have any), put all new investments in their pocket, wipe out balances and say it is not profitable at the moment and everyone payed maintenance fee

[tmfp]

Dear community,

Who Scammed?
I want to warn you of the Bitcoin Mining plattform "Genesis Mining"
Now I contacted the Support again. Just 2 Months after buying the mining, they claim my $147 investment is puffed into the air since market fees got higher than BTC outcome. with other words:

right now, no mining plan at genesis is profitable. Its a 100% loss investment

this is because the fees are 0.17 per th's. so even if you purchase 1000 th's for 30'000$, you will have higher fees than the mining output.

They've had this clause for years and made probably millions from it.
It's in the contract you signed, didn't you read it?

If you had done any due diligence and at least searched this forum for "Genesis scam", the first result you would have found would have been a 700+ post thread spread over the last 4 years https://bitcointalk.org/index.php?topic=1185909.740.
And if you think that you will get any "ethical" or "fair" treatment from Genesis, the people that enabled BitClub Network to rip off thousands of customers by supplying them hashrate, then you are too naive for any form of crypto investment.