Scam alert : Do NOT INVEST in Genesis Mining - page 4.

Glucose

hero member

Activity: 861

Merit: 1001

Quote from: ?? on ??

I have not the time to read the whole thread but can someone please explain to me what the advantage is to participate in this Genesis mining project while there are other interesting projects available where you can mine the coins for very cheap using your GPU or CPU or buy them as well very cheap for few dollars?

There is no advantage. With Genesis mining you will lose your money.

Buy bitcoin directly or mine yourself.

mptak123

member

Activity: 142

Merit: 10

Quote from: mptak123 on November 16, 2017, 04:46:47 PM

Quote from: kitkat008 on November 16, 2017, 03:09:21 PM

cloud mining...they always turn out to be a scam unfortunatly...

Maybe there is a hope after all.

Just received commission for the contracts bought 09.11.17

Will keep you updated guys.

Best Regards, Marcin

Just received commissions for 10.11.17 and 11.11.17 so for those interested go and check your wallet.
Please keep in mind that credit card commissions will be paid in mid December.

GM thank you after all

Best Regards, Marcin

mptak123

member

Activity: 142

Merit: 10

Quote from: kitkat008 on November 16, 2017, 03:09:21 PM

cloud mining...they always turn out to be a scam unfortunatly...

Maybe there is a hope after all.

Just received commission for the contracts bought 09.11.17

Will keep you updated guys.

Best Regards, Marcin

kitkat008

newbie

Activity: 47

Merit: 0

cloud mining...they always turn out to be a scam unfortunatly...

mptak123

member

Activity: 142

Merit: 10

Quote from: 1d1otoftheday on November 14, 2017, 05:17:48 PM

God damn it, why did I not come along here earlier?!

My BTC "lifetime" contract startet 30.10. There were some delays, payments were late. Profit was as expected/calculated. No big deal. Now three days show no profit. Made me a little bit nervous.

But who is to blame? Genesis?!
Right now I just feel stupid and the only one to blame is me. Lucky me I could only spend half of my credit card limit for whatever reason.

I bought a 38TH/s contract. Sounded like I would run 3 S3 without the noise, heat and to worry about hardware maintenance and failure. Wonder why I did not count back: 0.00028 dollar/gh/s/day is not a great deal assuming that power costs (4kW/h) are not even a third of it. It looked cheap for me back than comparing to what I or my company has to pay for power. Before I knew that even here you could cut costs in half as a big power spender.

What I underestimated the most: increase in difficulty. This contract will no even last a year, assuming difficulty doubles within a year as it did during the last 12 months (well: BTC/USD at 8200 would let my contract stay alive.. hope dies last)

Don't mine. Invest directly.

I disagree, contract will last much longer if Genesis Mining will last.

Usually i don't complain but check this out:

https://www.youtube.com/watch?v=1a9Wu87iR24

They don't pay commissions, they don't pay daily, they don't pay monero very often.
Also they miss payouts very often in general. Finally they are behind the schedule.

Actually one more thing, no IT customer service...
Unless you find ok waiting 4 months for your tickets to be solved.

Best Regards, Marcin

1d1otoftheday

newbie

Activity: 1

Merit: 0

God damn it, why did I not come along here earlier?!

My BTC "lifetime" contract startet 30.10. There were some delays, payments were late. Profit was as expected/calculated. No big deal. Now three days show no profit. Made me a little bit nervous.

But who is to blame? Genesis?!
Right now I just feel stupid and the only one to blame is me. Lucky me I could only spend half of my credit card limit for whatever reason.

I bought a 38TH/s contract. Sounded like I would run 3 S3 without the noise, heat and to worry about hardware maintenance and failure. Wonder why I did not count back: 0.00028 dollar/gh/s/day is not a great deal assuming that power costs (4kW/h) are not even a third of it. It looked cheap for me back than comparing to what I or my company has to pay for power. Before I knew that even here you could cut costs in half as a big power spender.

What I underestimated the most: increase in difficulty. This contract will no even last a year, assuming difficulty doubles within a year as it did during the last 12 months (well: BTC/USD at 8200 would let my contract stay alive.. hope dies last)

Don't mine. Invest directly.

jexphe2k

newbie

Activity: 42

Merit: 0

Quote from: ?? on ??

Hi Guys

Genesis Mining just opened BTC contracts again.
Go and get some once you can.

https://www.youtube.com/watch?v=Zbdr0TZZYPQ

Best Regards, Marcin

Hi Guys

If you ever wonder how Genesis Mining contract looks like it is your chance.
Please see video below to see it:

https://www.youtube.com/watch?v=bKH_Sv5WmZw

Best regards, Marcin

They need more people to invest again, and give them only 1st payout then scam them later on ^,...,^

gecelerinyargici

member

Activity: 168

Merit: 12

"Akche, Türkiye'nin Dijital Parası"

Quote from: Glucose on September 21, 2015, 10:00:26 AM

(Edited november 2017)

Genesis Mining is one of the well known company of the Cloud mining market but it is a huge scam. No one can make a return on investment with the fees they are taking on "lifetime" contracts. By the way, they are calling it "lifetime contracts" but it will only pay during 2-3 months and will be cancelled when the fees are higher than your payout.

This company is scamming people on purpose : they are selling contracts knowing their customers won't get any return on their investment : That's fraud.

Scammers Profile Link: https://bitcointalksearch.org/user/genesis-mining-247140

We have to spread awareness about it : Newbies in the crypto world are naive and keep investing every day in such a company

I specify : I personaly tested Genesis Mining a lot of time ago. I did ROI the first time (like 3 years ago, probably in 2013-2014) and didn't the second time (2015) but this scam accusation has another purpose than just complaining about "myself" (I didn't invest much). I think Genesis Mining is an organized fraud system and shouldn't be allowed to sell any contracts through this forum

Through this thread, we have collected several testimonies against Genesis Mining :

A lot of people are complaining directly on their facebook official page :
http://imgur.com/7wsvlDo
http://imgur.com/Ot0aYOc

Others are complaining on the forum :

Quote from: alt213 on November 21, 2016, 02:03:33 PM

G-M sell delusion to its customers , for example ZEC 1 years contract cost about 0.046BTC, daily earning approx 0.00015 zec , with current price of zec i need 10 years to recover my initial investment.

Quote from: clgrissom3 on February 08, 2016, 10:01:59 PM

Up to 2/7/2016...I knew this day would come eventually! I am 168 days into a lifetime 1.5THs contract and it's down to paying $0.02 per day. It's not dead yet but it's gasping for air. I paid 2.6310 BTC for this contract and I've collected 0.5438 in payouts from it and that's pretty much all I will ever see back. I bought this contract as a test hoping to do more later on. What a total waste of time and money. If you are thinking of buying a cloud contract from Genesis because of their slick web site, do yourself a favor and just buy and hold BTC instead.

Feel also free to read this review if you are not convinced yet : http://kipicommunity.org/genesis-mining-review-is-it-profitable-to-mine-with-genesis-mining/ )

How do they answer to this problem ? How do they justify themself ? :

They don't. They just don't say anything and keep selling contracts knowing it won't give any return on investment. Instead of answering negatives posts they delete it from their thread.

Quote from: minator99 on February 09, 2016, 07:10:48 AM

P.S. GM, if you delete once again my post I promise to open a topic to ask people how much they lose/win with your SCAM. Of course, ZetaOS and IanFoxley, your evangelists will be forbidden to post.

I also suspect ZetaOS, Ianfoxley, mptak123 of being paid by Genesis Mining. They are always posting everywhere about the money they are making with Genesis Mining which is a blatant lie. As you will see through this thread, a lot of newbies suddenly appears to share "how much profit they are making".

To all of you who have been scammed, to all of you who think they shouldn't be allowed to keep selling contracts : Put a neutral or negative trust on their profile here : https://bitcointalksearch.org/user/genesis-mining-247140. We have to spread awareness about this.

yes bro same idea with you , I ve been invested to genesis mining daily profits ver small I cant reach my invested money yet

RMXg1025829

newbie

Activity: 10

Merit: 0

Quote from: Dopert on November 07, 2017, 01:32:40 PM

Quote from: RMXg1025829 on November 07, 2017, 08:59:28 AM

Quote from: Dopert on November 06, 2017, 05:48:36 PM

Still. Genesis did not break there contract or did wierd calculations. I have 3 contracts now. First one was more then a year ago. Because of network increase BTC did recieve lower BTC payouts, but BTC price increase, did give me higher FIAT payout Cool

first it was a dollar per day, now 2 dollars of that same contract (life time).

I also joined presale BTC contract in september. Now i recieve the payouts as promised in november. Me so happy.

Txs Genesis.

Sorry for all ponzi trolls here from other cloudmining Tongue

That's not too bad if you get a lifetime membership! It would be alright then...But now, their prices are riddiculous....i could build a miner for half of what they charge in alts.

How much were the original contracts?

You need indeed little insight about ROI. Alt coin contracts now are not the best (beside the first Dash and LTC contracts). But if i recalculate contract and fees, then its exactomento. BTC contract are the best i think. Last offer was better pricing then the old BTC contract i did, but also logic because hardware was cheaper to buy by Bitmain and they expanded facilities on iceland (cheap energy).

Not quite sure what you meant? Yes i need no info on ROI. i know how ROI and indeed, business in general works. And, in general, i can build an alt coin miner, for sub 500$. An antminer still costs less than $3k us with power for the year. will cost 2000usd for the same hashpower as a miner....not inclusive of fees of course...from genesis.Top that with the fact your stuck with the contract for two years... I know crypto, and i know business, i KNOW a good scam is 'renting hashpower' ala genesis. The only reason i see for cloud...is if you have spare xmr or zcash
or eth you want washed into btc. My miners run ala sun! close to free power....they at least pay for their panels...we should be upto 3.5kw in another year (assuming price doesn't rise...in which case yay!

chickenado

hero member

Activity: 1036

Merit: 500

Quote from: coin_1122 on November 08, 2017, 03:01:37 AM

Quote from: RMXg1025829 on November 07, 2017, 08:59:28 AM

Quote from: Dopert on November 06, 2017, 05:48:36 PM

Still. Genesis did not break there contract or did wierd calculations. I have 3 contracts now. First one was more then a year ago. Because of network increase BTC did recieve lower BTC payouts, but BTC price increase, did give me higher FIAT payout Cool

first it was a dollar per day, now 2 dollars of that same contract (life time).

I also joined presale BTC contract in september. Now i recieve the payouts as promised in november. Me so happy.

Txs Genesis.

Sorry for all ponzi trolls here from other cloudmining Tongue

That's not too bad if you get a lifetime membership! It would be alright then...But now, their prices are riddiculous....i could build a miner for half of what they charge in alts.

How much were the original contracts?

I think it is due to with the increase in price of the Bitcoin may be. Some money people are having lot of negativity about Genesis mining but why still, people are kept investing in genesis even though there returns are low. Very insane.

In my own analysis here people were still seeking an easy money that's why they kept having an involvement with genesis mining. Most of these people were lazy and being banned on the forums, and I've heard that most of them were spammers of the forum. That's why they don't work for signature campaigns or any bounty related forums because of their greedy attitude of interest to earn bitcoin in an easy ways, so thinking about an easy source that mining investments is their mindset. But certainly they're wrong about it because it's a ponzi or scam type of investments, which eventually make them regret in the future.

mptak123

member

Activity: 142

Merit: 10

Quote from: coin_1122 on November 08, 2017, 03:01:37 AM

Quote from: RMXg1025829 on November 07, 2017, 08:59:28 AM

Quote from: Dopert on November 06, 2017, 05:48:36 PM

Still. Genesis did not break there contract or did wierd calculations. I have 3 contracts now. First one was more then a year ago. Because of network increase BTC did recieve lower BTC payouts, but BTC price increase, did give me higher FIAT payout Cool

first it was a dollar per day, now 2 dollars of that same contract (life time).

I also joined presale BTC contract in september. Now i recieve the payouts as promised in november. Me so happy.

Txs Genesis.

Sorry for all ponzi trolls here from other cloudmining Tongue

That's not too bad if you get a lifetime membership! It would be alright then...But now, their prices are riddiculous....i could build a miner for half of what they charge in alts.

How much were the original contracts?

I think it is due to with the increase in price of the Bitcoin may be. Some money people are having lot of negativity about Genesis mining but why still, people are kept investing in genesis even though there returns are low. Very insane.

I do agree it is insane how much money I already earned with Genesis Mining ;-)

Everyone have different opinions but the truth is that happy people don't share they opinions so often as unhappy do.

1 mln customers can't be wrong, right?

Best regards, Marcin

coin_1122

full member

Activity: 1134

Merit: 102

Quote from: RMXg1025829 on November 07, 2017, 08:59:28 AM

Quote from: Dopert on November 06, 2017, 05:48:36 PM

Still. Genesis did not break there contract or did wierd calculations. I have 3 contracts now. First one was more then a year ago. Because of network increase BTC did recieve lower BTC payouts, but BTC price increase, did give me higher FIAT payout Cool

first it was a dollar per day, now 2 dollars of that same contract (life time).

I also joined presale BTC contract in september. Now i recieve the payouts as promised in november. Me so happy.

Txs Genesis.

Sorry for all ponzi trolls here from other cloudmining Tongue

That's not too bad if you get a lifetime membership! It would be alright then...But now, their prices are riddiculous....i could build a miner for half of what they charge in alts.

How much were the original contracts?

I think it is due to with the increase in price of the Bitcoin may be. Some money people are having lot of negativity about Genesis mining but why still, people are kept investing in genesis even though there returns are low. Very insane.

wilhb81

full member

Activity: 224

Merit: 100

Any store can buy, sell, and accept Crypto

Quote from: criptolover12 on November 07, 2017, 04:17:07 PM

it very hard to get roi for all cloud mining sites. I have some investment also but I will never get my btc back.

Same situation with you there, bro. I'd invested more than few k USD into cloud mining sites (too lazy to list them out here...) Until now, I barely get back 30% of my previous investment...

As a result, I'm now very skeptical about Cloud mining sites. Roll Eyes

Dopert

full member

Activity: 350

Merit: 100

Quote from: mptak123 on November 07, 2017, 05:18:15 PM

This is it guys!!!

Genesis Mining BTC contracts are back tomorrow:

https://www.youtube.com/watch?v=x_BdQ0Fu_70

Remember they sold out in September in 72hrs. This time demand is even bigger!

Best regards, Marcin

If any newbee is googling for info about Genesis, this is the only realdeal for cloud mining (maybe bitclub also but less references). So if you want to join cloud mining this is the best option. Still some old school mininers say that cloud mining dont excisist.

mptak123

member

Activity: 142

Merit: 10

This is it guys!!!

Genesis Mining BTC contracts are back tomorrow:

https://www.youtube.com/watch?v=x_BdQ0Fu_70

Remember they sold out in September in 72hrs. This time demand is even bigger!

Best regards, Marcin

criptolover12

member

Activity: 238

Merit: 10

it very hard to get roi for all cloud mining sites. I have some investment also but I will never get my btc back.

Panda Trump

sr. member

Activity: 588

Merit: 254

Quote from: bonusdeposit on November 07, 2017, 11:09:44 AM

Quote from: Glucose on September 21, 2015, 10:00:26 AM

(Edited november 2017)

Genesis Mining is one of the well known company of the Cloud mining market but it is a huge scam. No one can make a return on investment with the fees they are taking on "lifetime" contracts. By the way, they are calling it "lifetime contracts" but it will only pay during 2-3 months and will be cancelled when the fees are higher than your payout.

This company is scamming people on purpose : they are selling contracts knowing their customers won't get any return on their investment : That's fraud.

Scammers Profile Link: https://bitcointalksearch.org/user/genesis-mining-247140

We have to spread awareness about it : Newbies in the crypto world are naive and keep investing every day in such a company

I specify : I personaly tested Genesis Mining a lot of time ago. I did ROI the first time (like 3 years ago, probably in 2013-2014) and didn't the second time (2015) but this scam accusation has another purpose than just complaining about "myself" (I didn't invest much). I think Genesis Mining is an organized fraud system and shouldn't be allowed to sell any contracts through this forum

Through this thread, we have collected several testimonies against Genesis Mining :

A lot of people are complaining directly on their facebook official page :
http://imgur.com/7wsvlDo
http://imgur.com/Ot0aYOc

Others are complaining on the forum :

Quote from: alt213 on November 21, 2016, 02:03:33 PM

G-M sell delusion to its customers , for example ZEC 1 years contract cost about 0.046BTC, daily earning approx 0.00015 zec , with current price of zec i need 10 years to recover my initial investment.

Quote from: clgrissom3 on February 08, 2016, 10:01:59 PM

Up to 2/7/2016...I knew this day would come eventually! I am 168 days into a lifetime 1.5THs contract and it's down to paying $0.02 per day. It's not dead yet but it's gasping for air. I paid 2.6310 BTC for this contract and I've collected 0.5438 in payouts from it and that's pretty much all I will ever see back. I bought this contract as a test hoping to do more later on. What a total waste of time and money. If you are thinking of buying a cloud contract from Genesis because of their slick web site, do yourself a favor and just buy and hold BTC instead.

Feel also free to read this review if you are not convinced yet : http://kipicommunity.org/genesis-mining-review-is-it-profitable-to-mine-with-genesis-mining/ )

How do they answer to this problem ? How do they justify themself ? :

They don't. They just don't say anything and keep selling contracts knowing it won't give any return on investment. Instead of answering negatives posts they delete it from their thread.

Quote from: minator99 on February 09, 2016, 07:10:48 AM

P.S. GM, if you delete once again my post I promise to open a topic to ask people how much they lose/win with your SCAM. Of course, ZetaOS and IanFoxley, your evangelists will be forbidden to post.

I also suspect ZetaOS, Ianfoxley, mptak123 of being paid by Genesis Mining. They are always posting everywhere about the money they are making with Genesis Mining which is a blatant lie. As you will see through this thread, a lot of newbies suddenly appears to share "how much profit they are making".

To all of you who have been scammed, to all of you who think they shouldn't be allowed to keep selling contracts : Put a neutral or negative trust on their profile here : https://bitcointalksearch.org/user/genesis-mining-247140. We have to spread awareness about this.

I think no one of cloud mining site a good investment there

Correct. Although your awful grammar and lack of punctuation and sentence structuring make your post look like shit, I agree with you. Cloud mining sites are one of the worst investments you could possibly make. Genesis Mining is no exception to that. Not only is there the risk of Genesis Mining being a scam and taking all your money, there's also the fact that very few people actually profited from Genesis Mining, which mainly included their Team.

Now I wonder though, why did you put that message as a reply on the other guys' message? It was a truly irrelevant quote.
Besides, please work a bit on your English... It's horrible right now! And no "me chinese is" excuses please. If you're not good at speaking English, just talk in your own language at the local boards or use Google Translate!

Regards,
Trump

Dopert

full member

Activity: 350

Merit: 100

Quote from: RMXg1025829 on November 07, 2017, 08:59:28 AM

Quote from: Dopert on November 06, 2017, 05:48:36 PM

Still. Genesis did not break there contract or did wierd calculations. I have 3 contracts now. First one was more then a year ago. Because of network increase BTC did recieve lower BTC payouts, but BTC price increase, did give me higher FIAT payout Cool

first it was a dollar per day, now 2 dollars of that same contract (life time).

I also joined presale BTC contract in september. Now i recieve the payouts as promised in november. Me so happy.

Txs Genesis.

Sorry for all ponzi trolls here from other cloudmining Tongue

That's not too bad if you get a lifetime membership! It would be alright then...But now, their prices are riddiculous....i could build a miner for half of what they charge in alts.

How much were the original contracts?

You need indeed little insight about ROI. Alt coin contracts now are not the best (beside the first Dash and LTC contracts). But if i recalculate contract and fees, then its exactomento. BTC contract are the best i think. Last offer was better pricing then the old BTC contract i did, but also logic because hardware was cheaper to buy by Bitmain and they expanded facilities on iceland (cheap energy).

bonusdeposit

full member

Activity: 224

Merit: 100

Quote from: Glucose on September 21, 2015, 10:00:26 AM

(Edited november 2017)

Genesis Mining is one of the well known company of the Cloud mining market but it is a huge scam. No one can make a return on investment with the fees they are taking on "lifetime" contracts. By the way, they are calling it "lifetime contracts" but it will only pay during 2-3 months and will be cancelled when the fees are higher than your payout.

This company is scamming people on purpose : they are selling contracts knowing their customers won't get any return on their investment : That's fraud.

Scammers Profile Link: https://bitcointalksearch.org/user/genesis-mining-247140

We have to spread awareness about it : Newbies in the crypto world are naive and keep investing every day in such a company

I specify : I personaly tested Genesis Mining a lot of time ago. I did ROI the first time (like 3 years ago, probably in 2013-2014) and didn't the second time (2015) but this scam accusation has another purpose than just complaining about "myself" (I didn't invest much). I think Genesis Mining is an organized fraud system and shouldn't be allowed to sell any contracts through this forum

Through this thread, we have collected several testimonies against Genesis Mining :

A lot of people are complaining directly on their facebook official page :
http://imgur.com/7wsvlDo
http://imgur.com/Ot0aYOc

Others are complaining on the forum :

Quote from: alt213 on November 21, 2016, 02:03:33 PM

G-M sell delusion to its customers , for example ZEC 1 years contract cost about 0.046BTC, daily earning approx 0.00015 zec , with current price of zec i need 10 years to recover my initial investment.

Quote from: clgrissom3 on February 08, 2016, 10:01:59 PM

Up to 2/7/2016...I knew this day would come eventually! I am 168 days into a lifetime 1.5THs contract and it's down to paying $0.02 per day. It's not dead yet but it's gasping for air. I paid 2.6310 BTC for this contract and I've collected 0.5438 in payouts from it and that's pretty much all I will ever see back. I bought this contract as a test hoping to do more later on. What a total waste of time and money. If you are thinking of buying a cloud contract from Genesis because of their slick web site, do yourself a favor and just buy and hold BTC instead.

Feel also free to read this review if you are not convinced yet : http://kipicommunity.org/genesis-mining-review-is-it-profitable-to-mine-with-genesis-mining/ )

How do they answer to this problem ? How do they justify themself ? :

They don't. They just don't say anything and keep selling contracts knowing it won't give any return on investment. Instead of answering negatives posts they delete it from their thread.

Quote from: minator99 on February 09, 2016, 07:10:48 AM

P.S. GM, if you delete once again my post I promise to open a topic to ask people how much they lose/win with your SCAM. Of course, ZetaOS and IanFoxley, your evangelists will be forbidden to post.

I also suspect ZetaOS, Ianfoxley, mptak123 of being paid by Genesis Mining. They are always posting everywhere about the money they are making with Genesis Mining which is a blatant lie. As you will see through this thread, a lot of newbies suddenly appears to share "how much profit they are making".

To all of you who have been scammed, to all of you who think they shouldn't be allowed to keep selling contracts : Put a neutral or negative trust on their profile here : https://bitcointalksearch.org/user/genesis-mining-247140. We have to spread awareness about this.

I think no one of cloud mining site a good investment there

RMXg1025829

newbie

Activity: 10

Merit: 0

Quote from: Dopert on November 06, 2017, 05:48:36 PM

Still. Genesis did not break there contract or did wierd calculations. I have 3 contracts now. First one was more then a year ago. Because of network increase BTC did recieve lower BTC payouts, but BTC price increase, did give me higher FIAT payout Cool

first it was a dollar per day, now 2 dollars of that same contract (life time).

I also joined presale BTC contract in september. Now i recieve the payouts as promised in november. Me so happy.

Txs Genesis.

Sorry for all ponzi trolls here from other cloudmining Tongue

That's not too bad if you get a lifetime membership! It would be alright then...But now, their prices are riddiculous....i could build a miner for half of what they charge in alts.

How much were the original contracts?

Topic: Scam alert : Do NOT INVEST in Genesis Mining - page 4. (Read 257756 times)