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

[Bravo_Zulu]

A slight improvement for yesterdays operation.  Difficulty is the same, BTC is $2 lower yet there is an improvement in payout.  This is the kind of thing that makes you want to just scratch your head.

https://i.imgur.com/VzXm7Hz.jpg

I was going to throw something similar together as this is what is bugging me most. difficulty changes, price stays the same pay out drops. Difficulty stays the same, price drops, payout rises. If there has been a technical hitch over the past week and money has been lost then we are owed something!

[1714003790]

1714003790

[julian071]

A slight improvement for yesterdays operation.  Difficulty is the same, BTC is $2 lower yet there is an improvement in payout.  This is the kind of thing that makes you want to just scratch your head.

I was going to throw something similar together as this is what is bugging me most. difficulty changes, price stays the same pay out drops. Difficulty stays the same, price drops, payout rises. If there has been a technical hitch over the past week and money has been lost then we are owed something!

You can always calculate it yourself using a mining profitability calculator like on coinwarz. Just use 41.667 for the power used, and fill in the price of the electricity as follows: 2.00 for 0.20 per GH per day, 1.50 for 0.15 per GH per day, 1.20 for 0.12 per GH per day.

Below how it works out for a 1 TH contract with a 0.15 fee:

http://www.coinwarz.com/calculators/bitcoin-mining-calculator/?h=1000&p=41.667&pc=1.50&pf=0.00&d=59335351233.86660000&r=25.00000000&er=233.90000000&hc=0.00

[yazx]

      It is a ponzi scheme, I have to send Ticket refunds. But he ignored me wait more than 10-11 days without any progress.

If you invest, you will never get your money back. They will freeze your money. Of course, you. need more than two years for the ROi

Yesterday I was contacted Fanpage of Genesis, but he told me to stop posting these. I do not know why I waited more than 10-11 days, he did not answer my Ticket, there is no. clear answer.

I had a friend of mine sent by email to another Ticket differ. But he quickly answered Ticket I know that. They just do not care for that Ticket refunds. Or say something to me. They should give me a refund if the customer is not satisfied, but it's not bad for me. And I'm disappointed with this investment.

If you want transparency And their care.
I do not recommend you to invest in this hell.



If you do not intend to steal my money. Please give me a refund
My ticket is #13877 If you do, it all ended well.

[IanFoxley]

      It is a ponzi scheme, I have to send Ticket refunds. But he ignored me wait more than 10-11 days without any progress.

If you invest, you will never get your money back. They will freeze your money. Of course, you. need more than two years for the ROi

Yesterday I was contacted Fanpage of Genesis, but he told me to stop posting these. I do not know why I waited more than 10-11 days, he did not answer my Ticket, there is no. clear answer.

I had a friend of mine sent by email to another Ticket differ. But he quickly answered Ticket I know that. They just do not care for that Ticket refunds. Or say something to me. They should give me a refund if the customer is not satisfied, but it's not bad for me. And I'm disappointed with this investment.

If you want transparency And their care.
I do not recommend you to invest in this hell.



If you do not intend to steal my money. Please give me a refund

They dont have to give you a refund though, if they do it is a gesture of goodwill on their part and they have a good cause clause part in their contract as well.

So unless something bad happens like volcanoes wipe out their mining farms or farms are destroyed in a fire and things like that, there is not that much you can do.

This is why some users like the idea of having a marketplace so that if you want to leave your contracts you can just sell your hashpower and move on, although not really sure you would get the same amount of Bitcoin you invested after selling though.

I cant think of any cloud mining companies that I have invested in that allow users to have a refund unless like I said. they had a marketplace available.

[yazx]

     It is a ponzi scheme, I have to send Ticket refunds. But he ignored me wait more than 10-11 days without any progress.

If you invest, you will never get your money back. They will freeze your money. Of course, you. need more than two years for the ROi

Yesterday I was contacted Fanpage of Genesis, but he told me to stop posting these. I do not know why I waited more than 10-11 days, he did not answer my Ticket, there is no. clear answer.

I had a friend of mine sent by email to another Ticket differ. But he quickly answered Ticket I know that. They just do not care for that Ticket refunds. Or say something to me. They should give me a refund if the customer is not satisfied, but it's not bad for me. And I'm disappointed with this investment.

If you want transparency And their care.
I do not recommend you to invest in this hell.



If you do not intend to steal my money. Please give me a refund

They dont have to give you a refund though, if they do it is a gesture of goodwill on their part and they have a good cause clause part in their contract as well.

So unless something bad happens like volcanoes wipe out their mining farms or farms are destroyed in a fire and things like that, there is not that much you can do.

This is why some users like the idea of having a marketplace so that if you want to leave your contracts you can just sell your hashpower and move on, although not really sure you would get the same amount of Bitcoin you invested after selling though.

I cant think of any cloud mining companies that I have invested in that allow users to have a refund unless like I said. they had a marketplace available.

If they are true transparency or not ponzi or do not want to steal my money, They without freeze our money.
Why did not they say anything? Why do they ignore my ticket,pm, and all message from me?  

Do you think that 10-11 days is a little bit? It was a long time! I just want my money back. Nothing more!

[julian071]

Have you checked your spam folder? GM does not usually take so lang to answer a ticket.

[Runlevel]

My ticket last week and the reply from yesterday.

---MAIL---
Re: [#xxxxx] New Order of Hashpower
23-Sep-2015 15:06

We approved your order for you and also paid you for some days you had been waiting.

Best regards,
Craig
Genesis Mining
---END---

GM works well  and they have look blockchain where i had a problem or mistake to transfer some btc for more new hashpower.
I get now more btc with the new contract also and they have got the payment.

I see no problems with GM, good Service.

Runlevel

[galdur]

     It is a ponzi scheme, I have to send Ticket refunds. But he ignored me wait more than 10-11 days without any progress.

If you invest, you will never get your money back. They will freeze your money. Of course, you. need more than two years for the ROi

Yesterday I was contacted Fanpage of Genesis, but he told me to stop posting these. I do not know why I waited more than 10-11 days, he did not answer my Ticket, there is no. clear answer.

I had a friend of mine sent by email to another Ticket differ. But he quickly answered Ticket I know that. They just do not care for that Ticket refunds. Or say something to me. They should give me a refund if the customer is not satisfied, but it's not bad for me. And I'm disappointed with this investment.

If you want transparency And their care.
I do not recommend you to invest in this hell.



If you do not intend to steal my money. Please give me a refund
My ticket is #13877 If you do, it all ended well.

In contrast to many other (PONZI)

it says there. Wonder if that´s a freudian slip. Unlike other ponzis they´re dedicated to transparency, most trusted in the world et cetera. One thing is for sure though, LIKE other ponzis they refuse to prove that they mine.

[Indianacoin]

Unlike other ponzis they´re dedicated to transparency, most trusted in the world et cetera. One thing is for sure though, LIKE other ponzis they refuse to prove that they mine.

When I asked about their proof of mining, they showed me this website -> http://lifeinsideabitcoinmine.com/ where I can see their miners working 24/7.
But I doubt they are really utilizing them for customers     

[Roquene]

I'm a bit nervous about the fact, that GM is registered as 'Limited' in Hong Kong.
It's very very easy to start a company there, without many checks for $1000 (and ~$300 / year).

They say it is because of the tax. But it tastes quite bitter.

[galdur]

Unlike other ponzis they´re dedicated to transparency, most trusted in the world et cetera. One thing is for sure though, LIKE other ponzis they refuse to prove that they mine.

When I asked about their proof of mining, they showed me this website -> http://lifeinsideabitcoinmine.com/ where I can see their miners working 24/7.
But I doubt they are really utilizing them for customers      

I don´t doubt that they´re mining. I just doubt that the hashrate they´ve sold matches what is mining. Of course it would be easy for them to remove any doubt. The fact that they refuse to do so has to tell you something. It sure did in many operations that suddenly evaporated.

This we can´t disclose this and that for security reasons excuse got old after the first two or three scams to use that closed shop.

[clgrissom3]

Another increase with the same BTC price and Difficulty...

[Glucose]

Damn, they erased my post one more time ^^

You should answer your customers tickets instead of erasing my posts here. If you take more than 4 days to answer my e-mail, it means you have some work to do right ?

I love your communication skills GM

Unlike other ponzis they´re dedicated to transparency, most trusted in the world et cetera. One thing is for sure though, LIKE other ponzis they refuse to prove that they mine.

When I asked about their proof of mining, they showed me this website -> http://lifeinsideabitcoinmine.com/ where I can see their miners working 24/7.
But I doubt they are really utilizing them for customers     

Yeah. This is no proove. It's just a good excuse for them. So they can keep the informations we are asking for (total hash, blocks found, etc..).

[Genesis-Mining]

I waited more than 10 days, why not to take any action in my ticket and no reply
My concern in this matter I give my friend a Ticket using a different email. But you reply to him in quick time, but for my Ticket still no response.

Hi Yazx.

We have replied to you many times during the last few days which you have also replied back to us. So am not sure why you have this campaign against us at the moment.

We have told you we will get back to you regarding your issue as soon as we can.

GM Support

[Genesis-Mining]

Damn, they erased my post one more time ^^

You should answer your customers tickets instead of erasing my posts here..

There are other posts saying you are a ponzi and you erase mine saying I'm waiting for 4 days for an answer ?

I love your communication skills GM

We have also answered your support tickets and as far as we know we have told you the answers you wanted which was relating to your low payouts due to you having older fees.

Sorry if these are not the answers that you want.

[Glucose]

We have replied to you many times during the last few days which you have also replied back to us. So am not sure why you have this campaign against us at the moment.

Maybe because all your old customers lost their money ?

Sorry if these are not the answers that you want.

If you want to attract new customers, you better find a solution for us and an other answer. Because we will keep complaining here.

[Roquene]

Can not complain at the moment.


Started with 75 GH/s (old contract)
Bought 250 GH/s new contract (18.09)

Last payout is 251 Sat. per GH/s.
That's okay.

The payments were down for a short time. Simultaneously there were problems with Hashnest.
But now it is running at two providers again flawlessly.

The ROI here is still 22 Months. But I do not care. GM is the long-term backup. Nothing to get rich quick.
And if the Bitcoin price rises again, the ROI is also much faster.
Perhaps the returns are not yet stunning. But we'll see what the future brings.

I'm not saying that I 100% trust GM.
But I think it is unlikely that this project suddenly ends in the next few years.

And Bitcoin-Business is always High-Risk-Investment.
There is no Magic Money Machine.


EDIT
@ Genesis-Mining
A well-intentioned tip.

Either participate in the discussion or completely stay out.
But just delete posts is a really stupid idea. You are doing yourselves any favors.

Furious and disappointed customers do not pay.

Or in other words:
When I kindly ask a question here, and this post will be deleted without comment, that raises a damn badly on you.
Don't do that.

[julian071]

BTC is up. If it rises two more euro's, things will be the same as before the 4,17% difficulty rise.

[galdur]

January 31, 2015:

Striking a positive note on the future of an industry which has been in turmoil over recent months, Streng claims that his company is currently in a “favourable position”. They could keep operating even if the price of btc were to fall as low as $100 USD.

https://www.cryptocoinsnews.com/cloud-mining-will-profit-bitcoin-price-rise-says-genesis-ceo/

August 25, 2015:

Assuming you're getting a good deal on electricity — and ignoring all other costs — Streng says one bitcoin currently costs about $60 to mine. For reference, one bitcoin is currently worth $235. But, when you factor in hardware, production costs, staffing, and more, "one is able to mine a Bitcoin for about 20% less than its current price."

http://uk.businessinsider.com/photos-iceland-bitcoin-mine-genesis-mining-cloud-2015-8

100-190 in seven months. Quite a jump huh? I wonder what caused it. Difficulty is up over the period but hardly by 90%. Maybe it´s "rude and aggressive" to ask 

[kavellino]

Everytime payouts go down or to 0 people start yelling "scam" and "ponzi".

Having lived through GAW, Hashie, BCS and AMHash I know there are in fact scams running in cloud mining.

I do NOT believe GM is either a "scam" or a "ponzi" operation.  I currently have two accounts through GM.

One is 15 Ths through GM the other is 31 Ths through GM-Spondoolies.   My Spondoolies account went to 0 payouts
and is now paying "crap".  I began to wonder what the heck is going on??  I then did the math.

I'm not a victim of some fraud by GM.  I'm a victim of BTC price, Maintenance fees, and BTC difficulty.  As a result I
stand to loose $12,000 USD in my GM-Spondoolies account.  Does GM owe me or anyone else on this Forum a refund, absolutely NOT.

You and I bought a product, and some like me spent thousands of dollars.  It could and has gone bad live with it.  If you can't
handle the problems inherent in BTC cloud mining, here's a thought don't do cloud mining.

Will I still buy contracts from GM, yes.  Will I ever again buy a contract from GM-Spondoolies, no way in hell.

What would I like to see.  The GM-Spondoolies accounts drop maintenance fees for existing accounts, say to .0015/Ghs USD or give us the option
to convert some percentage of our Spondoolies contracts to GM.

What am I also going to do.  Yesterday my contractor installed 60 Solar Panels on my home which will produce 17 kw.  This is classified as
an industrial scale Solar installation.  When the contractor asked why I needed such a large installation (roughly 3 times the usual residential installation)
I took him down to my basement and showed him my 7 LTC miners that have been powered down for about a year.

Once I get a building inspector sign off and my net metering meter installed I start turning stuff on.

Then I begin buying about 5 S7's.   As time going on I will probably have to buy an additional S7 or something better each year, just to compensate for the difficulty rise.

So lesson for all of us.  Learn from our mistakes, accept we will make mistakes and lose money.  Hopefully, make some money.

If you can't take it or afford it get out of the BTC business/hobby or whatever.