Topic: Scam alert : Do NOT INVEST in Genesis Mining - page 7. (Read 257756 times)

News about Monero delayed tickets:

https://www.youtube.com/watch?v=uHqYm90L-eU&t

Regards, Marcin

Please follow me on Youtube to have a head start info about upcoming SHA 256 open ended BTC Genesis Mining contracts.

https://www.youtube.com/watch?v=RKl0QfIXhu4&feature=youtu.be


Regards, Marcin

Hi

Some of the mining farms are located in Iceland, Sweden and China but there are more just not sure where they are because Genesis Mining is not really sharing this info.

Please see below link to one of the farms in Iceland:

https://www.youtube.com/watch?time_continue=1&v=Eqxu_fwrDZM


Regards, Marcin

Please see below my conversation with VIP assistance serive from today:


Hi Again Raoul

Please see below link to the video on youtube and take notice of 13:45 time of the video.
https://www.youtube.com/watch?v=_UwAgQPE_ZI

My Top 5 Bitcoin Investments - Thanks to 3K Subscribers!
www.youtube.com
My Top 5: Bitconnect: https://bitconnect.co/?ref=CrypTown USI TECH: https://cryptown.usi-tech.info/ Bitpetite: https://bitpetite.com/?aff=cryptown Regal Coin...

Also please inform me upfront as soon you will know confirmed date of new BTC, BCC contracts.

By the way why you don't answer questions about delayed tickets?
Are you not allowed to do so?

Kind regards, Marcin

Od: Genesis Mining VIP Assistance Service <[email protected]>
Wysłane: 17 października 2017 10:45
Do: Marcin Ptak
Temat: Re: BTC and BCC contracts
 
Hi Marcin!

I can‘t confirm that at all. Mining which was sold during the pre-sale will come back in October. But no new contracts will be available in October. I expect thencontracts come back in 2017. But I don‘t have any confirmed date yet.
It can be November or December. If it would be October, I would know by now.

I can offer you to inform you upfront as soon as I have the date confirmed.

If you don‘t mind, please let me know the name (maybe) link of the YouTuber so I can talk to him and set that straight.

Best regards,

Raoul

Marcin Ptak <[email protected]> schrieb am Di. 17. Okt. 2017 um 12:02:
Hi Raoul

I am writing to you because one of the Youtubers who have VIP assistance service in Genesis Mining said that contracts are coming back by the end of October.

Do you actually have any news about BTC and BCC contracts?

If you will start BCC mining would it possible to mine BCC out of BTC SHA256 contracts?
At the end of the day BCC and BTC are both SHA256.

Also it is well over 2 months now and my ticket is still open without answer. IT is still processing it.
Do you know how much longer it can possibly take to sort it out?

Thank you in advance for fast response.

Kind regards, Marcin

When is Genesis coming back with more BTC contracts?

Please see below 2 more pictures of old and new contract prices:

https://ibb.co/kMZsLb
https://ibb.co/hc2e0b

Regards, Marcin

I forgot to mention that current payouts are out of 62,75 th/s.

The rest will be started on 31.10 2017 because they were bought on pre order.

Regards, Marcin

As you wish, please see below 5 pictures uploaded as a proof:

https://ibb.co/kpznmG
https://ibb.co/en6p0b
https://ibb.co/n2hjYw
https://ibb.co/kbsjYw
https://ibb.co/j7c7mG

Hope this will be enough because i showed a lot of decent infomation.

Regards, Marcin

Ok. Show us what you paid and show us your returns then if you are so confident.

I think talking about 3 years back is pointless.

Currently BTC is way more popular then 3 years ago.
Moreover main adoption started less then 3 years ago and price did skyrocket.

https://coinmarketcap.com/currencies/bitcoin/#charts

In just 1 last year alone BTC went up from around 600 USD to 5600 USD at this point.

As you see right now there is much more confidence in BTC around the world.

It is only hope for some people in countries like Venezuela, North Korea, Zimbabwe or Cuba.
Japan have BTC legalized and you can pay even for your utility bills.

Right now you have even payment cards you can use to spend your BTC which are not really great in my opinion BTW..

As you see 3 years ago and now it is completely different story and there is a lot of room for improvments which are just behind the corner.

I hope you will drop your sceptical speech because without mining there will be no BTC so you should encourage people instead of spreading the fear.

If you look at the last 3 years, difficulty rise usually faster than price. But you are right for the next difficulty correction.

Actually i wrote if difficulty and price stay the same.

Moreover price rise faster then difficulty so my payout is higher as well.

At the moment preditcion is the difficulty will drop by over 6% in less then 2 days.

https://bitcoinwisdom.com/bitcoin/difficulty

Since my last post payout went up a lot:

Right now it stands as:

25,63 - 5,6 = 20,03 today

21,56 - 5,6 = 15,96 two days ago

So income rose 20,03 - 15,96 = 4,07 USD

Currently to ROI you need:

2598,86 / 20,03 = ~130 days

Kind regards, Marcin

You are wrong. Because difficulty will increase, so your payout will decrease.

Hi again

My recommendation is to save your contracts on your own drive.

Genesis Mining is not losing because they still have hardware. Investors don't lose either. I am living example.

I do not recommend to buy small amounts of hashpower because it is more expensive then bigger ones.
Best price level starts at 20 th/s. Anyway even for investors with small money it is still profitable.

Plese see below cost of new contract which will start at 31st of October based on 20 th/s open ended BTC option:

a. 0.129943 USD per GH/s upfront
b. USD 0.00028 per GH/s and day, deducted on a daily basis from the generated Coins

So for 20 th/s we pay 5,6 usd upkeep a day

https://www.cryptocompare.c...

Profit at current price and diffculty should be 21,56 - 5,6= 15,96 usd a day

Initial investment cost us: 0,129943 x 20 000= 2598,86 usd

We will ROI(return of investment) after: 2598,86 / 15,96= 163 days

Starting from 164th day we will start making profit so it is looking very good in my personal opinion.

It is not even half a year as you see. I am taking my risk and so far i am very happy with the results(already 18 months with GM).

If you have any further questions you can also contact me on [email protected]

Kind regards, Marcin

Dear Mr Strobs

You need to make up your mind because your information differ a lot.
In the first message you wrote that they stopped paying at the end of 2016 when BTC was around 1000 usd tops.
In the second message you wrote that Bitcoin went up ten times.

You bought it for 250€ so it is way less then ten times to reach 1000 usd. Moreover Bitcoin was for 1000 usd just a week or so because in the middle of January 2017 it was back to 800 usd.

Another thing you did not write at all terms of your contract. We don't know cost per gh/s and upkeep per gh/s which is crucial to say anything.

You wrote that you were upgrading your hash power but each upgrade have separate contract and upkeep went down by 25% in Genesis Mining on their pre sale contracts which start on 31st of October.

My conclusion is that your information is too poor so we cannot give the right answer and you dont even stick to your own data.

Regards, Marcin

Genesis has been a joke since day one.

Yes Marcin. You are right " Halving took place 9th of July 2016". But remember after my last buy of hashpower the bitcoin raise 10 times. I bought hashpower, how can you explain that my hashpower was reduced to 0.

In comparison at the same time I bought exatly the same on hashflare and after two years they keep paying. I could not be an expert in some issues, but I don't like sand in my eyes.

And you are saying that genesis mining is not made for small investors.

We all respect looks like your memory is tricking you ;-)

The reason behind sudden payout drop was probably bitcoin reward halving which is taking place every 4 years.
But the dates you are giving must be wrong. Halving took place 9th of July 2016.

https://www.coindesk.com/live-blog-bitcoin-halving/


Moreover difficulty is adjusted every two weeks:

https://bitcoinwisdom.com/bitcoin/difficulty

Right now upkeep fees on open ended conract not lifetime as you said are ~25% lower then 18 months ago.
Also it is not 20 days but 30 continuous days to stop your contract if upkeep is higher then your mining earnings.
This is crucial because mining diffulty take place every two weeks so in 30 days it is twice in 20 it was just once.

Why this is important? If price drops significantly less people mine and it is taking longer to solve the blocks which are generated on avarage every 10 minutes.
More time let BTC code adjust and lower difficulty to the level on which mining become profitable again.

Please see below helpful sites to understand the trend:
https://blockchain.info/pl/charts/hash-rate
https://coin.dance/nodes

As you see nowdays BTC mining i far more sustainable and is backed up by huge investments into mining farms.

Do you think it is coincidence that contracts are sold out and more and more huge mining farms are growing around the world?

Kind regards, ptaq

Here is my review. Think what ever you want, http://matospereira.com/en/corporative-funds-partners/273-genesis-mining-scam-or-not-review-after-two-years-2015-2017

This is why we need to choose wisely on where or what we invest in. Especially now, that bitcoins are becoming very popular world wide, and many people are discovering it’s worth. We don’t want to waste the time, effort and money.