Topic: Genesis-mining.com || World's leading hashpower provider! - page 47. (Read 400228 times)

What did you do to invoke the refund policy? Is there a clause that allow you to do that? I wonder will this discussion be removed.

I finally received a refund on my Genesis contacts (10 days after requesting a cancellation and 11 days after my initial purchase.) Genesis refunded all 21.545 btc.

 It was not easy dealing with support or IT, but they eventually coughed up the coin. All in all I think I'd have to give GM a generous" C- ". Customer support is mostly awful: waiting on replies for 2 or 3 days. I understand that GM has "100,000 customers" ( probably unhappy ones) but with a  substantial investment, I expect a higher level of service then that of my cable provider.

After failing to reach support for 3 days trying to confirm the cancellation/refund, I sent a message to GM on their Facebook page. They responded with this: " You need to show more patience." Seriously GM!? Go flog yourselves. GM you need to show more fiduciary responsibility to folks who have given you their $$$. 

I'm sure I could have been persuaded to keep some of my investment in GM had things gone smoothly, but that's a big nope for me now.

Best of luck to all who have active contracts I hope you all get your ROI. I don't think that GM is a scam; just an org with a lousy business plan, zero transparency and poor implementation.
 

Babs, You shill.

I want to invest in Genesis-mining but I am not very sure how it works. When you invest in a one year contract, do you get your principle back after the expiry of the contract?

I want to invest in Genesis-mining but I am not very sure how it works. When you invest in a one year contract, do you get your principle back after the expiry of the contract?

I finally received a refund on my Genesis contacts (10 days after requesting a cancellation and 11 days after my initial purchase.) Genesis refunded all 21.545 btc.

 It was not easy dealing with support or IT, but they eventually coughed up the coin. All in all I think I'd have to give GM a generous" C- ". Customer support is mostly awful: waiting on replies for 2 or 3 days. I understand that GM has "100,000 customers" ( probably unhappy ones) but with a  substantial investment, I expect a higher level of service then that of my cable provider.

After failing to reach support for 3 days trying to confirm the cancellation/refund, I sent a message to GM on their Facebook page. They responded with this: " You need to show more patience." Seriously GM!? Go flog yourselves. GM you need to show more fiduciary responsibility to folks who have given you their $$$. 

I'm sure I could have been persuaded to keep some of my investment in GM had things gone smoothly, but that's a big nope for me now.

Best of luck to all who have active contracts I hope you all get your ROI. I don't think that GM is a scam; just an org with a lousy business plan, zero transparency and poor implementation.
 

Why are you so complacent about the prospect of Genesis Mining just terminating your mining contracts?  They sell most of the contracts as a "lifetime" contract.   These are therefore long-term contracts.   Many of the Bitcoin mining contracts that are now paying a few cents per day have only been running for a few months.  Buyers have not even received their purchase money back, let alone any return on investment. 

If Genesis Mining want people to purchase mining power, then they should NOT exercise the termination clause.  In the contract it says they "may" end the contract if there are no payouts for 20 days.  They should not exercise this option if they want people to continue to buy contracts with them.   

I have bought hashing power with Genesis Mining rather than my own equipment.  It is not good business practice for them to terminate my contract and resell this hashing power to someone else.  Bitcoin mining profitability goes up and down. I understand that there may be periods when it is not profitable to mine, but these come and go. 

Genesis Mining should just suspend the contract until the bitcoin price/difficulty changes and produces a return again.  They should not take away the hashing power I have paid for and resell it to someone else.  The resulting bad publicity on social media would greatly affect their business and they would be foolish to do this.

Hey Genesis-Mining,

I know a few weeks ago you were having issues with DASH and changed my mining allocation to BTC AUTO....kinda sux since DASH is now close to  $6.00USD (when i complained I believe it was at $2.00+)

Are you still having issues w/x11 dash mining?

Last April in his annual letter to shareholders, CEO of JPMorgan Jamie Dimon warned that “Silicon Valley is coming”. Well, Mr. Dimon, you’re right. But it’s not just Silicon Valley. Technology is being developed in places like Boston, Israel, and Singapore that are threatening Wall Street’s grip on global finance. Leading that charge is Bitcoin and Blockchain. Big banks like JP Morgan have had a “monopoly on money” for far too long, and for the first time ever, that’s changing.

The big banks are woefully behind the innovation curve and are only just now beginning to realize it. Many have adopted an antagonist response to the disruptors in their industry, but it’s already too late. Because what they don’t realize is they can’t stop innovation. You just can’t stop hundreds of millions of consumers who are fed up with an archaic monetary system that is controlled by a handful of wealthy Wall Streeters.

I have also wondered if maybe everyone's lifetime contracts magically drop in payouts as they approach and pass ROI. 

Someone should set up a site where Genesis investors can anonymously share their Payout/Hashrate ratio in bulk,  and what they are mining.  This would quickly identify any inconsistencies. Ideally people would share a wallet Addy so those payouts could be verified but I don't believe this level of trust would be viable unless only done between trusted friends.

Genesis: Understand please that if you keep your investors in the dark,  the smarter ones will eventually organize and find ways to enlighten themselves.

If you look just a few posts up you will see i post payout info for Both Hashnest and Genesis Mining.

Currently Hashnest S3 and S4 contracts are underwater and could be going bye bye soon so do not assume that Genesis Mining payouts are the only payouts that are going down because they are not..Far from it..Hashnest are reputable too and they mine just like GM so you can see from my payouts that what is happening with Genesis Mining is because of the fees and the difficulty, just the same as what is happening over at Hashnest.

Ive been posting daily payout info for both companies for months so its easy to look back and see how payouts for both companies go down...as the bitcoin difficulty has increased especially since November.

Please take a look..i update the payout info as much as i can and it can be a useful resource for everyone..
https://bitcointalksearch.org/topic/genesis-mining-vs-gaw-mining-spondoolies-hashnest-and-mining-sweden-updates-768931