Trust is very important in Cloud Mining.
You may say that I am a hater, but I am only attacking Genesis Mining actions that result in a very heavy loss of trust.
And don't blame me for judging their lack of transparency and lies.
WHEN YOU BUY HASHPOWER from Genesis Mining, and when they make a payment, all you have is trust, trust that they actually pay you what they mined with that hashpower, you have no other way to verify if what they pay is less or not, except for mining yourself and compare the mined cripto with what they say they mined.
Even so, it is very complicated, as it is a question of luck, to compare you would have to start and stop at 00:00 UTC or when their mining day starts.
So.....TRUST is very important , and when they lie and hide is very bad for that trust!!!!
< h2> Here you have Genesis Mining press release , all of it, also commented with my opinion:
"We want to keep you updated on the technical difficulties that have interrupted payouts in the last few days. Our team has been working to address every aspect of this problem to restore service, and now we’re able to update you in more detail."
Bad choice of words!!!!!! You are not keeping me "updated" if you tell me what happen "in the last few days" or more exactly AFTER A FEW DAYS!!!!!
"On the night of Friday July 21st, we detected an unauthorized intrusion by an attacker. This attacker gained access to a hot wallet and was able to transfer funds which we will reimburse in full. Shortly after the intrusion was detected, our team was able to shut down the attack. We immediately took steps to mitigate the issue, including enhancing our monitoring and detection capabilities, and further hardening our environment. One of those increased security measures was to delay our daily payouts"
THANK YOU Genesis Mining for finally taking the time after 6 days to tell even to "nobodies" like us what was going on. Until yesterday we were the stupid ones as we did not look on twitter to see that in fact was a scheduled upgrade announced even from 19.07 that went wrong, and we are the "haters" that "spread bad denigrating news" about you.
Yes....we just have to pay the money, keep our mouth shut, and we do not need to know.......we are "investors" as you call us.
The truth is : YOU LIED YOUR ASSES FOR A WEEK!!!! With that "difficulties harder than expected to implement updates"
"We have found no evidence that sensitive end user information, including email addresses, were exposed by this incident. We also do not collect, store or have access to customers’ credit card details. We immediately engaged 3rd party cyber security advisory to investigate the attack, and validate that the measures we took to address this issue – and it’s those security practices that ensure that an issue like this remains isolated and resolvable."
So many secrets....and after a week of lies.... Hey, Genesis Mining, why all this hiding? I mean...our money are at stake too with your security, and we really want to believe you. So....can you tell us WHO? WHO IS THE "3rd party cyber security advisory"? If we are stupid and don't know we promise to google it. That is the best you can do for us after 1 week of lies? "3rd party cyber security advisory"?
"We want to assure you that our mining operation was not affected and is running as normal. Every single one of our customers will receive their missing payouts as soon as we’re sure about the safety and integrity of our payment system. One of the advantages of the daily payout system is that it helps prevent actual losses, even in moments like these that cause delays."
Hey, dude, don't take me for stupid. You have a "CLOUD MINING OPERATION", and paying the customers (sorry, "investors" as you say) , so, paying the customers is part of your "mining operation". Genesis Mining, sorry to be me the one bringing you the news , but your payments were just "affected", and your "safety" and "integrity" ....... come on dude, get out of here with this P.R. shit !!!! I did not wait for one week for you to sell me nice words.
"The next payout is being scheduled, and all missing mining profits will be paid out to our users during the coming days. Genesis Mining will cover the full amount, and you will receive all of your payouts. The mining profits will be released gradually with the usual daily payouts, so you will receive two payouts a day instead of the usual single payout per day, until all missing payments are complete. We’re sorry for any delays in ticket responses, and I want to personally assure you that our Customer Service team will respond to each and every concern you have."
Are you telling me that you have all the money you owe me, but when you start making payments and your sistem will start working you will "release them gradually"? Are you telling me that after violating the "100% uptime" advertised, and leaving me without my money for 1 week, you have my money but you will give that to me a little day by day? Why? ----Out of respect for STEEMIT I can not write here my answer to this. My dear readers...guess for yourself. It's not so hard.
"We’ve been providing daily cryptocurrency payouts for more than three years now and treat these payouts as a promised service for our customers. Your trust and confidence in Genesis Mining is of the utmost importance to us, and we understand the frustration around not receiving those payouts. That’s why our team is working around the clock to resolve the issue and restore payouts, while ensuring something like this doesn’t happen again."
You promised 100% uptime and 24h support. I don't see it.
"Every person who mines with us helps make what we do possible, and we appreciate your patience with us as we work to ensure security while getting you your hard earned coins.
Sincerely yours,
Marco Streng
CEO Genesis Mining
"
Mr. CEO Marco Streng, i am not patient, I am angry and pissed off for the way you treat us like sheep.
TO MY READERS: If you feel the need to talk to mister Marco, here is his twitter page :
https://twitter.com/Marco_Streng
I rest my case..... let the readers judge.
- If you want me to keep writing and keep you up to date with the latest information, please upvote, resteem and follow!!
- You also get 3% PRICE DISCOUNT when purchasing hashrate from genesis by using the promo code : qa4zyl
I created that banner you used in this post. Not OK buddy. Ask the next time.
found it in some free pictures directory. Did you sign it? Was your signature removed?Did you publish it under your name or did you just throw it on the internet? I had no way to know it was under copyright law. Please come back with details and I will change it. I did not remove any signature from any free pictures I published!!!! Take a look https://steemit.com/bitcoin/@altcoins101/eth-vs-btc-part-6
Man calm down. That wasn't with a bad meaning.. After rethinking I like that somebody used it.. :-)
I am sorry , I just don't like stealing other people work. If it was like that it was by a misunderstanding.
As a multi-year customer I can relate to your reaction. And I will watch for your next update as I have received not one word from GM.
Thank you for your appreciation. If you are a multi-year customer of GM, i assume you may have a ETH contract.
What is your opinion and also your payout (/100mehahash) for day 18.07.2017 in ETH? As for me it was lower than other days with higher ETH mining difficulty....here is an article about this that I wrote just before GM stopped payouts: https://steemit.com/bitcoin/@altcoins101/genesis-mining-asking-my-readers-ethereum-miners-for-comparing-mining-data
Alert! Coinbase just emailed 44 min ago that I received 0.04516597 LTC from GM.
Now back to your question, with 85Mhs mining power, I received 0.05585 Eth on July 17 and 0.05258 Eth on July 19, then 0.05351 July 21 (dates came from Coinbase and often are 1 day later than GM dates).
did not receive anything on Bittrex.
Now back to my question. You may have a small mining power and payments cumulate. But in GM account you see how much you earned every day even if the amount is too small to be payed and it cumulates. My question was about mining day 18.07.2017 that for me had the smallest amount, an on day 19 and 20 for example even if the difficulty was bigger I received more. And this looked fishy. you can check the diff history at https://etherchain.org/charts/difficulty
Well the problem with your expectation is that you are assuming an incoming data stream that has blocks of data with identical complexity. So that variation of the difficulty factor is the determinator of your payout.
This is not true. The blocks of input have a varying number of transactions and fairly widely varying coin amounts. I would expect the earnings from a block to scale more directly to the sum of coin needing confirmations. The effect of the difficulty factor is more of a speed (time) throttle.
you should use exodus or other wallet where you have controll of your privatekeys. Every exhange warn you that you should not have mining payouts sent to them. And never trust centralised exhanges
sorry dude, update and attack disovery may go hand in hand. It could bedormant and attacks at the weekest time when they inisiate an update
even so....5 days with no word about WTF is going on...... you have at least a moral obligation when you advertise 100% uptime guaranteed and 24h support. You have any ideea what would Genesis say if you buy a bad contract and you loose money? "sorry dude, you knew the risc, we give you the haspower you purchased.." AND THAT IS CORRECT. How about they assume knowing the risc when they advertise 100% uptime guaranteed and pay some compensations for the downtime, instead of not giving me all the money at once and paying a few a day (talking about the missing payouts)?
Last I heard they said that it willome gradually over time the payouts fore downtime+ extra for compenstions. For dificulty side of the case you are fucked if you don't have massive amount of mining power an can reeinvest to keep on top. Every miner need to expaand to compeet, no different fore you. You just get a mining company to host it fore you. If you are serious about mining from home I will recomend you check out cryptonomos.com