Oh dear, I'm afraid I'm starting to have some doubts about them. Do you think it's a scam. Or is that a bit too harsh?
Well they were hacked, and payments stopped. Then some accumulated back payments were made. Then they stopped the payments again! There's been no Monero payments since July 21st. Now the website will be down for 'maintenance'. Are niggling doubts starting to creep in regarding the long term future, security and validity of Genesis Mining? What are your thoughts?
I think Marco Streng and his gang should go for transparency and admit that they can't live up to the expectations they have generated.
They should present a deal to all their subscribers that they are going to pay back everyone as much as they can - the coins each user has invested.
The subscribers will probably have to live with a loss of somewhere between 10%-50% of their original investment. But if this is what can be achieved, they should live with it.
If they don't take action fast to do something like this, you can be sure there will be charges made against them and when they have to go to court, the Big Boys of the FED and Fiat money will step in to 'regulate' whole this 'crypto' business.
Hi pagandance you are right, they should come clean about it, because if this thing does collapse I agree there are gonna be major repercussions, which may include some regulation. Not the way we want things to go!
I am not a fan of Genesis Mining.
More and more people are starting to feel the same way
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STOPI dont blame you for getting weary. I think even before the latest stramash I was getting weary of the difficulty and ever decreasing payments.
I think it is a con and you will struggle to ever achieve ROI. I hope you do though :O)
The more crypto payouts we get(when we actually do get them) the more we upgrade(reinvest) otherwise the payments continue to fall. So is it really worth it? I'm still at an early stage with regards to investing in mining. It does appear that the thing that really helps is getting free hashpower when your code is used
I'm quickly losing faith in Genesis Mining. I bought the dash contract when it became available in the beginning of July with a credit card purchase. I understand why they do a 30 day hold on payouts (to protect themselves from chargebacks). But I still haven' been paid for Jul 2 - Aug 2, and it's not listed on what I am owed, but they have the daily breakdowns of what I should have been paid. The presentation on their website is very confusing and they everyother day payout makes it hard to track the daily payout (when they are paying out they don't note for which days this accounts for).
Luckily losing the money I put in Genesis Mining will not break me, just make me very annoyed. I really hope they figure out all the missed payments soon, but until then they will not get another penny from me nor will I recommend them to anyone else.