Genesis-mining.com || World's leading hashpower provider!

[Minimaxa]

This is plain thievery.

At this rate of 10 to 1 conversion it will take 30 years to recover the amount of the initial investment.

If BTC was regulated and a legitimate finance company did this they would be closed down.

Stay very far away from this company this is a sincere warning, this is a scam.

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[Zeta0S]

This is plain thievery.

At this rate of 10 to 1 conversion it will take 30 years to recover the amount of the initial investment.

If BTC was regulated and a legitimate finance company did this they would be closed down.

Stay very far away from this company this is a sincere warning, this is a scam.

Have you ever invested in a stock that went down and your stock broker gave you the opportunity to swap it for a better performing stock after the fact?

No "regulated or legitimate finance company" would do that for you, but GM just did.

I would be grateful?

lol, your so right!
 

[ukiktrader]

i Just convert my 60 mh to 60 GH... good luck everyone here... better do something than gone to ass..

[julian071]

This is plain thievery.

At this rate of 10 to 1 conversion it will take 30 years to recover the amount of the initial investment.

If BTC was regulated and a legitimate finance company did this they would be closed down.

Stay very far away from this company this is a sincere warning, this is a scam.

Have you ever invested in a stock that went down and your stock broker gave you the opportunity to swap it for a better performing stock after the fact?

No "regulated or legitimate finance company" would do that for you, but GM just did.

I would be grateful?

lol, your so right!
 

+1. If there is somehing sincere about that post, it's that it's sincerely stupid. Sorry to be using such words but accusing a company of thievery when you are actually being offered something for free is just plain wrong.

[siampumpkin]

I accept that the conversion sucks and is pretty much a rip off but it is a choice between something and nothing. I have already been warned by them that the Scrypt is going away so I would rather take a little than nothing at all. 

[Serlite]

I converted my (massive) 1 Mh/s into 1 Gh/s. Sadly, daily payouts will never really be high enough for me to see the generated satoshis, due to payouts being dependent on daily payout amount, rather than accumulated balance amount (mentioned a few pages earlier). My only current option to see that money is to buy more Gh/s...but with the state that mining is in right now, I don't think that's a financially wise decision.

Regarding the aforementioned situation, I did contact Support with a ticket about it. Their response:

"We are looking for a way to payout even if there's not enough. But this applies to a lot of accounts so it will take some time unfortunately. Manual payout is not an option, sorry for that."

So for anyone else stuck in the same boat, maybe there is still hope for us!

[thevictimofuktyranny]

Are the Bitcoin payouts late tonight, still have not got my payment

Incidentally, I would not be selling Litecoins at the moment or giving up scrypt cloud mining when there is a block halving in just 7 months.

August to December will see Litecoin go above $2.60

I explain a lot about the maths and macro economics in a post on this LTC thread

https://bitcointalk.org/index.php?topic=47417.2620

[TXTCLA55]

A late reply, but I made the conversion of my 4 MH to GH last week. So far I've gotten a little more of a payout than before, nothing to write home about but I'll take it.

I'd really like to see some of those previous promises/service improvements come to fruition soon.

[bubbaj]

I am just letting mine die, the worst $75 I spent, oh well easy come easy go as they say.

[Icon]

Well i got a suggestion, seeing we just sold the house for some green seeds .. How about 0 maintenance fees on the converted mh/s to gh/s seems only fair as you made 1000% over what we just did converting it.. (and yes i am a convert too )

Icon

[Zeta0S]

I still remember mining this way, after i got the block erupter the diff got to high in 8 weeks, i had to sell the erupters true eBay.
 

[niezam]

If you guys wondering the payout, here is mine with 0.1 TH/s.

https://blockchain.info/address/1BRRXqpUthxZoY5fZnxoqEd1t73eEZ7ihh

I can't really say much with my small 100 ghs, understand well the current BTC price situation. I was about to buy more power with GM, but watching the payout I'll have to skip.

I did convert my 5mhs scrypt contract for ghs recently.

[Minimaxa]

This is plain thievery.

At this rate of 10 to 1 conversion it will take 30 years to recover the amount of the initial investment.

If BTC was regulated and a legitimate finance company did this they would be closed down.

Stay very far away from this company this is a sincere warning, this is a scam.

Have you ever invested in a stock that went down and your stock broker gave you the opportunity to swap it for a better performing stock after the fact?

No "regulated or legitimate finance company" would do that for you, but GM just did.

I would be grateful?

lol, your so right!
 

+1. If there is somehing sincere about that post, it's that it's sincerely stupid. Sorry to be using such words but accusing a company of thievery when you are actually being offered something for free is just plain wrong.

It is not for free you fucking moron I have already paid them in full and they kept the scrypt hardware.

[thevictimofuktyranny]

This is plain thievery.

At this rate of 10 to 1 conversion it will take 30 years to recover the amount of the initial investment.

If BTC was regulated and a legitimate finance company did this they would be closed down.

Stay very far away from this company this is a sincere warning, this is a scam.

Have you ever invested in a stock that went down and your stock broker gave you the opportunity to swap it for a better performing stock after the fact?

No "regulated or legitimate finance company" would do that for you, but GM just did.

I would be grateful?

lol, your so right!
 

+1. If there is somehing sincere about that post, it's that it's sincerely stupid. Sorry to be using such words but accusing a company of thievery when you are actually being offered something for free is just plain wrong.

It is not for free you fucking moron I have already paid them in full and they kept the scrypt hardware.

Dude, you are not the only miner who has lost money in this new sector of the economy

I bought 200ghs at pbmining, which went bust 2 weeks later. Hashie when bust in Janurary as well, but because I had AMhash GHs, the manufacturer rescued it's investor. Everyone, who had Gen 1 Hashie hashpower lost out. Genesis mining got 40% electricity reduction for it's customers, which is why you still have Scrypt cloud mining.  

Zeus mining: all its cloud-mining customers lost everything this Janurary (10 day electricity rule). CEX.IO, all it's BTC cloudmining customers lost everything in January (10 day electricity rule).  

People who bought KCnminer Titans were looking at $2,500 losses (with LTC price rise, they may breakeven). Everyone who bought 750TI's and R9 290 have been mining at a "TECHNICAL LOSS" over this Winter

This is what happens, when to many people think they can mine and convert into Fiat Currency e.g. they have no interest in saving their crypto currency coins.

Because, you are with a well managed company (Genesis mining), you still have cloudming hash

[julian071]

This is plain thievery.

At this rate of 10 to 1 conversion it will take 30 years to recover the amount of the initial investment.

If BTC was regulated and a legitimate finance company did this they would be closed down.

Stay very far away from this company this is a sincere warning, this is a scam.

Have you ever invested in a stock that went down and your stock broker gave you the opportunity to swap it for a better performing stock after the fact?

No "regulated or legitimate finance company" would do that for you, but GM just did.

I would be grateful?

lol, your so right!
 

+1. If there is somehing sincere about that post, it's that it's sincerely stupid. Sorry to be using such words but accusing a company of thievery when you are actually being offered something for free is just plain wrong.

It is not for free you fucking moron I have already paid them in full and they kept the scrypt hardware.

Dear sir, the option to convert IS for free. Please do read your contract. Pro-tip: always read the contract when you pay for a service! You might also notice that you did not pay for any scrypt hardware, but for a service.

You just seem to not understand what you paid for, and therefore not understand that this option to convert is (was) free. If someone is the moron it is certainly not me.

[thevictimofuktyranny]

One should remember every new sector of economic in history has had a period were "buyer and seller ignorance" has led to huge pumps or investments in production that were followed by subsequent brutal corrections e.g. Radio, Television, Internet, IT, and so on.

The main ways the masses achieve "buyer and seller wisdom"

a) trial and error downwards: do it until you suffer horrific losses, then reduce activity by 20%, do it until you suffer horrific losses, then reduce activity by 20% again, do it until you suffer horrific losses - at some point you will find the long term balance profitability ratio
b) trial and error upwards: do it if you get ridiculous profits, then increase activity by 20%, do it if you get ridiculous profits, then increase activity by 20%, do it if you get ridiculous profits, then increase activity by 20%, - at some point you will find profits stop occurring over the long term.

Literally, that is how most people will achieve "buyer and seller wisdom"

Obviously, people like "original philosophers" (from Thomas Paine's "Age of Reason) - can develop "buyer and seller wisdom" from 1st principles "Original philosophers" are pretty thin on the ground and I'm afraid it is either a) or b) trial and error for the masses

So, guys don't feel bad about what has happened, just use the more accurate experiences to make profits in the future  

[IanFoxley]

I have recently got an email saying that if you have missed the transfer offer then do not worry as it will be coming again soon, if not already, unfortunately I can not check but if not, should be coming soon.

[ZorroPai]

One should remember every new sector of economic in history has had a period were "buyer and seller ignorance" has led to huge pumps or investments in production that were followed by subsequent brutal corrections e.g. Radio, Television, Internet, IT, and so on.

This main ways the masses achieve "buyer and seller wisdom"

a) trial and error downwards: do it until you suffer horrific losses, then reduce activity by 20%, do it until you suffer horrific losses, then reduce activity by 20% again, do it until you suffer horrific losses - at some point you will find the long term balance profitability ratio
b) trial and error upwards: do it if you get ridiculous profits, then increase activity by 20%, do it if you get ridiculous profits, then increase activity by 20%, do it if you get ridiculous profits, then increase activity by 20%, - at some point you will find profits stop occurring over the long term.

Literally, that is how most people will achieve "buyer and seller wisdom"

Obviously, people like "original philosophers" (from Thomas Paine's "Age of Reason) - can develop "buyer and seller wisdom" from 1st principles "Original philosophers" are pretty thin on the ground and I'm afraid it is either a) or b) trial and error for the masses

So, guys don't feel bad about what has happened, just use the more accurate experiences to make profits in the future  

Thank you for your insights.

Please poste also some good money management techniques.

Thank you,  
Zorro

[TXTCLA55]

I still remember mining this way, after i got the block erupter the diff got to high in 8 weeks, i had to sell the erupters true eBay.
 

Lucky dog. I still have a USB miner after it was too hard to mine and the tech was too old to sell. Sigh, it just sits on my desk as a relic of better times.

[TXTCLA55]

This is plain thievery.

At this rate of 10 to 1 conversion it will take 30 years to recover the amount of the initial investment.

If BTC was regulated and a legitimate finance company did this they would be closed down.

Stay very far away from this company this is a sincere warning, this is a scam.

Have you ever invested in a stock that went down and your stock broker gave you the opportunity to swap it for a better performing stock after the fact?

No "regulated or legitimate finance company" would do that for you, but GM just did.

I would be grateful?

lol, your so right!
 

+1. If there is somehing sincere about that post, it's that it's sincerely stupid. Sorry to be using such words but accusing a company of thievery when you are actually being offered something for free is just plain wrong.

It is not for free you fucking moron I have already paid them in full and they kept the scrypt hardware.

Dude, you are not the only miner who has lost money in this new sector of the economy

I bought 200ghs at pbmining, which went bust 2 weeks later. Hashie when bust in Janurary as well, but because I had AMhash GHs, the manufacturer rescued it's investor. Everyone, who had Gen 1 Hashie hashpower lost out. Genesis mining got 40% electricity reduction for it's customers, which is why you still have Scrypt cloud mining.  

Zeus mining: all its cloud-mining customers lost everything this Janurary (10 day electricity rule). CEX.IO, all it's BTC cloudmining customers lost everything in January (10 day electricity rule).  

People who bought KCnminer Titans were looking at $2,500 losses (with LTC price rise, they may breakeven). Everyone who bought 750TI's and R9 290 have been mining at a "TECHNICAL LOSS" over this Winter

This is what happens, when to many people think they can mine and convert into Fiat Currency e.g. they have no interest in saving their crypto currency coins.

Because, you are with a well managed company (Genesis mining), you still have cloudming hash

Good point. I think a lot of people buy into the idea that the more money they pour in to mining the bigger the payout later when in actuality I've had more luck buying small increments of hash power which can reach ROI in a few months then using the mined coins to buy more. Mining is a risky business at this moment, you can either wine about it, or try to make the most of it by turning it into a learning experience.