[warning] genesis mining misses payouts to customers!

edwardceng

member

Activity: 266

Merit: 50

A friendly warning. Cry

Most people here know cloud mining is a high risk it same as you put your money in other people hands. Yes, an online business industry should base on trust, but when you have a better choice, and you pick a high-risk one, then when you got in trouble, that's just a result of your decision.

marcrblevins

newbie

Activity: 7

Merit: 0

Why sue that mining company?

Did you know those rip-off ASIC mining companies gave us CryptoNight algorithm miners issues?

Bitmain and Baikal secretly created ASIC miners for CryptoNight algorithm and ran it for months since December 2017.

Public originally thought it was those botnet miners.

Most CryptoNight coins organizers were pissed off except for ETN when found out it was not botnet miners, but ASIC miners.

Monero was first to report to hardfork in March and then Bitmain and Baikai panic. Baikal first advertising their POS miners for CryptoNight algorithm. Bitmain was next to advertised.

Baikai's model was a 20k h/s ASIC miner and Bitmain's was a 220k h/s ASIC miner.

Normal CryptoNight miner could run up to 6 Vega 64/56 GPUs, total 12k h/s, each rig.

Most CryptoNight coins hardfork to be ASIC resistant recently in March and April of year 2018.

Now I'm mining for CryptoNight v7 algorithm.

Sue Bitmain and Baikal instead. They created this chaos mess and we, GPU miners, have not recovered the lost income either...

Vann

hero member

Activity: 1036

Merit: 606

Cloud mining is a scam. Lots of people have problems.

https://www.youtube.com/watch?v=PLY7GuNLCVI

In December 2017 for $4,000 you could have built a mining rig with 10 RX 580's that would mine XMR at 9000 H/s, mining 1-2 XMR per month AND you can still currently sell the hardware for close to what you paid for it!

rdluffy

legendary

Activity: 2366

Merit: 1408

Why people invest in this kind of company?
If you really reserach a little you'll see you only make profit if the coin rise in price...so it's way better to buy a coin

helovescrypto

copper member

Activity: 36

Merit: 0

I spent almost 4000 US dollars on genesis mining Monero contract (5000 H/s). Since Dec 2017 when my contract began, I received a total of only 1.2 XMR. They have missed 52 days of payouts! You can find so many complaints on twitter and other social media. Thinking of what I can do to protect myself and other people. Any suggestions to my situation?
Be aware! Do not fall into scam, folks!

Discussion on filing law suit and other measures in reddit:
https://www.reddit.com/r/GenesisMining/comments/8bwl8b/its_probably_time_to_start_organising_a_lawyer_to/

Topic: [warning] genesis mining misses payouts to customers! (Read 158 times)