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

[bubbaj]

If Etherem is the next big thing GPU mining will only last a few months, someone will work out how to have an ASIC chip mine it and it will go the same way as all of Crypto. It is the only industry that I have seen that kills itself. As for the 3x price hike by Genesis what do you expect, they are not in the game of losing money.

[minator99]

Yea, "Lifetime Bitcoin Mining contract" Nice joke.

Genesis Mining operate under European Law (German).  They are subject to strict laws.  They cannot claim a lifetime contract if they are going to end it after a short time.  Under European law, they cannot rely on an unfair clause in their contract.  The courts strike these clauses out. 

Genesis Mining should be careful how they handle their lifetime bitcoin mining contracts.  They now have a substantial number of users and would likely face a class action if they try to terminate lifetime contracts after such a short time.   

[bapparabi]

i am happy that three latest maintenance free is 0.0045 per 10 GH/s whci is great news ...now we can get better return

[bitcoinpete]

Havent received any payours for sha256 for a couple weeks now looks like a huge scam!

[Wintermute]

Havent received any payours for sha256 for a couple weeks now looks like a huge scam!

The sha contracts produce a number of Bitcoin per day and some of it is used to pay for electricity. Due to the huge increase of difficulty in the last couple of months the Bitcoin payouts are not enough to pay for the electricity.

https://bitcoinwisdom.com/bitcoin/difficulty

I assume your contract is not paying anymore because payouts are lower than electricity cost ("maintenance fee").

[Zeta0S]

i am happy that three latest maintenance free is 0.0045 per 10 GH/s whci is great news ...now we can get better return

I am really noticed the difference, paymenst for BTC only are close to 9 dollars now.

[ZorroPai]

Havent received any payours for sha256 for a couple weeks now looks like a huge scam!

Hello bitcoinpete,

I changed to BTCD and I get regular payments.

Kind regards,
ZorroPai

[Zeta0S]

Genesis Mining thank you for the Ethereum contracts.  From the first day i know you did not list Dash ($4.57) and Ethereum for nothing. Now i am earning all the Ether You mined in my behave.

Totday Ethereum reached 10 Dollars!  10 Dollars Wow! And Dash is skying to!

(source: http://www.bitcoinupdate.nl/  http://coinmarketcap.com/ )

Many thanks for your early vision,

Zeta

[Makingsure]

Well, every operation that has been unable to disclose a mining address and proof of mining has suddenly disappeared and there has been no reason to believe that this would be any exception.

sadly i would agree ;\
would be nice to have statement  instead of nukes....


"so genesis just sent out emails
they have started a crowdfund to try save their business by fundraising a company
"to invest in long term mining contracts"
guess where and who is the founder? you guessed it our most recent fav scumball, Marco streung, at genesis mining
what a joke! lol
good to know their getting broke tho, looking for new scam "legit" business models to scheme up "

damn even zeushash is offering a conversion of old hashpower on their new platform, and they WERE a  way shitter service then genesis before the last 6 months here ;\
difficulty , we all understand, but they str8 up screwed us and gave us nothing but "Thumbs Up" advertising the whole way, and contunue too
its no way to run a bisness, not a legit one

[Genesis-Mining]

Well, every operation that has been unable to disclose a mining address and proof of mining has suddenly disappeared and there has been no reason to believe that this would be any exception.

sadly i would agree ;\

We provided a number of photos and videos from our farms. There are testimonials from several hardware manufacturers on our webpage. For some time we also provided some mining addresses to proof that we have a couple of PH/s (we posted the addresses here on bitcointalk). We post pictures from our team and are on all major conferences around the world. And we are in this business for more than two years and we will continue in doing so.

Your Genesis Mining Team

[bitcoinpete]

Havent received any payours for sha256 for a couple weeks now looks like a huge scam!

The sha contracts produce a number of Bitcoin per day and some of it is used to pay for electricity. Due to the huge increase of difficulty in the last couple of months the Bitcoin payouts are not enough to pay for the electricity.

https://bitcoinwisdom.com/bitcoin/difficulty

I assume your contract is not paying anymore because payouts are lower than electricity cost ("maintenance fee").

Looks like Genesis mining is making some nice profits for themselves, shitty PR job with the bad contracts they sold. I lost quite a bit with my sha256 and my referrals did as well, sent quite a few emails trying to get a refund or bettter deal for a new contract with no luck. Genesis mining is a joke I hope they all go bust soon.

[Borgminer]

agreed contracts a way overpriced . impossible to break even on sha256 contracts

[Makingsure]

Well, every operation that has been unable to disclose a mining address and proof of mining has suddenly disappeared and there has been no reason to believe that this would be any exception.

sadly i would agree ;\

We provided a number of photos and videos from our farms. There are testimonials from several hardware manufacturers on our webpage. For some time we also provided some mining addresses to proof that we have a couple of PH/s (we posted the addresses here on bitcointalk). We post pictures from our team and are on all major conferences around the world. And we are in this business for more than two years and we will continue in doing so.

Your Genesis Mining Team

ok so str8 up, what pool do you use, and why not your own if "your a world leader" in this sector?
how much power do you own? its that simple, not "a couple ph, months ago"     why can you not tell your customers? (fractional mining maybe?)
just be transparent OMG how hard is that are you familar with gethashing's platform? it's not a security issue to be transparent, grow up
why no way out or upgrade on contracts? 100,000 satisfied customers? take the poll again....
you say a hash market like other places is a legal issue, you are full of shit, do you think we are dumb? as long as there no fiat exchanged in that market (btc to ghs and vice versa)  ITS NOT A LEGAL ISSUE STOP LYING, you just dont want us to have a way out, simple.
EVEN ZEUSHASH offeres a new old to new upgrade program, are you saying the chinese care more about our accounts than you?
i await your responses but you will prob just ignore the questions as usual

[babs1975]

I have also not received any payouts for the past 10 days or so. It will be important that Genesis issues statements to its investors so that they understand what is going on. Otherwise this might be construed as a scam.

[IanFoxley]

I have also not received any payouts for the past 10 days or so. It will be important that Genesis issues statements to its investors so that they understand what is going on. Otherwise this might be construed as a scam.

@Babs, check your contracts as if you had older contracts with older fees then those payouts would have stopped paying out now.

If you had 0.0015 USD per GH/s fees, then they have stopped paying out since almost a month ago now.

But just contact their support and they can can help you out as support on these forums is limited I think.

Just some advice anyway.

Ian

[babs1975]

I have also not received any payouts for the past 10 days or so. It will be important that Genesis issues statements to its investors so that they understand what is going on. Otherwise this might be construed as a scam.

@Babs, check your contracts as if you had older contracts with older fees then those payouts would have stopped paying out now.

If you had 0.0015 USD per GH/s fees, then they have stopped paying out since almost a month ago now.

But just contact their support and they can can help you out as support on these forums is limited I think.

Just some advice anyway.

Ian

Thanks so much for information. I will raise a support ticket on Genesis-Mining for more clarification.

[IanFoxley]

I have also not received any payouts for the past 10 days or so. It will be important that Genesis issues statements to its investors so that they understand what is going on. Otherwise this might be construed as a scam.

@Babs, check your contracts as if you had older contracts with older fees then those payouts would have stopped paying out now.

If you had 0.0015 USD per GH/s fees, then they have stopped paying out since almost a month ago now.

But just contact their support and they can can help you out as support on these forums is limited I think.

Just some advice anyway.

Ian

Thanks so much for information. I will raise a support ticket on Genesis-Mining for more clarification.

Yes, best to do that I think.

[Genesis-Mining]

We provided a number of photos and videos from our farms. There are testimonials from several hardware manufacturers on our webpage. For some time we also provided some mining addresses to proof that we have a couple of PH/s (we posted the addresses here on bitcointalk). We post pictures from our team and are on all major conferences around the world. And we are in this business for more than two years and we will continue in doing so.

Your Genesis Mining Team

ok so str8 up, what pool do you use, and why not your own if "your a world leader" in this sector?
how much power do you own? its that simple, not "a couple ph, months ago"     why can you not tell your customers? (fractional mining maybe?)
just be transparent OMG how hard is that are you familar with gethashing's platform? it's not a security issue to be transparent, grow up
why no way out or upgrade on contracts? 100,000 satisfied customers? take the poll again....
you say a hash market like other places is a legal issue, you are full of shit, do you think we are dumb? as long as there no fiat exchanged in that market (btc to ghs and vice versa)  ITS NOT A LEGAL ISSUE STOP LYING, you just dont want us to have a way out, simple.
EVEN ZEUSHASH offeres a new old to new upgrade program, are you saying the chinese care more about our accounts than you?
i await your responses but you will prob just ignore the questions as usual

There is no way to proof that every contract is covered. If we show you 100 PH/s, you could claim that our clients have 101 PH/s. Fact is that we have honored each and every contract since more than two years and we will continue to do so. We are working on more videos to show that we run a huge mining operations around the world.

Recently, the SEC has called in one case mining contracts "securities". Our legal team has advised us to keep the contracts as machine leasing contracts and to not make them tradeable assets, which could be problematic. We are looking into ways, how we can change this going forward.

Your Genesis Mining Team

[zaph3t]

This is my first time to actually check out Genesis-Mining.com - i find your Plans to be Good to be true so
I have to PM you to get some straight answers. Thank you!

[BitcoinNewsMagazine]

@zaph3t read the recent posts on the thread carefully before you invest. Your chances of earning your investment back on a bitcoin mining contract are nil with the block reward halving coming up in 4 months. As far as mining Ether you can do it yourself or read this review of the Genesis Mining offering.