Just a heads up for anyone considering a genesis mining contract.
I feel I should inform you all that I should have received an ethereum payment on 11 September 2017 which had stated on the payouts page that the transaction had been made, only to find the transaction never existed on the blockchain (etherscan.io).
I created a customer support ticket on the 15th September which was unanswered & made another ticket on the 20th September this time asking them resolve this promptly or issue me a refund due to breach of contract on their part. To this day, I have never received any correspondence regarding the problem (even though they can still manage send me e-mails of their offers).
I would strongly recommend to stay away from this company as they have no respect, thought or regards for it's customers.
Have you had problems with this company? Please comment with your experiences below.
Just found this at the top of the payouts page.
PAYOUT SCHEDULE UPDATE
Update from 13/11/2017
Due to Bitcoins recent network congestion and resulting excessive transaction fees we’ve withheld the payouts. We’re watching the situation closely and all payments will be resumed shortly. We’re sorry for the inconvenience and thank you for your patience.
Looks like they're doing it again, excuse after excuse!
Genesis Mining's complete lack of customer service and highly questionable business practices are a major cause for concern. Now that they are a subsidiary of a Canadian public company, I am strongly considering organizing a class action suit against them.
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This has been o going for a long time now... i am missing 3 months ether payout when i was mining it to steem and no support also missing other payouts... i have switched all my contracts to zcash till i they fun out and not getting more..
The btc i spent would be worth far more now then the btc i get from the contract
I tried mining it to steem too but never received a single payout for that.
I think I am misunderstanding your post. You had payment missing since Sept 11th or just that day's payment? Does genesis payout daily? I am interested in it because bitcoin contracts rates are currently the best and most of their pre-orders get sold out in a matter of days. Maybe ether on genesis not good but not other coins? Thanks.
It was just missing that ETH payment (although many payments have been late) so I switched my hash power to ETC which seems to be ok. I've also tried mining into steem & have never received any payout for those mining days.
I certainly won't be using any mining company again.
The issues of cloud mining overshadows actually mining and operating rigs by myself. Electricity and up front cost is too high with an rig where I am. Furthermore I am not a good tech guy so have a lot of trouble with command lines. Cloud mining although many drawbacks still gives something in regards to mining coins. The profits will only exist as crypto continues to rise. So its ideal to hold the coins I mine for long term in hopes to recoup the cost of contracts and earn more on top of that.
Thank you for this heads-up and to the commenters. I've been seriously looking at joining Genesis Mining but now I have to take a step back and wait what will happen if they can resolve the issues being raised by this post and into the issues raised by those who commented in this post.
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