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RE: Thinking of cloud mining with Genesis? Get your head out of the clouds and READ THIS FIRST!

in #cryptocurrency7 years ago

I found exactly the same thing, started a contract (ETH 25 MH/s) with a breakeven at that point (13th June) being around 4 months, with daily payout starting at 0.015 ETH. Now, 6 weeks on, the daily payout is 0.008.

Also it is worth noting, that Genesis have been holding on to payouts since 23rd Jul, due to "an intrusion" here. They put a notice up 3 days ago saying payouts had resumed, but my account shows nothing since 23rd July.

They could do a lot better on the communications, even an email to their customers would have been the minimum that could be expected when their customers money stops showing up.

I would not invest in an ETH contract at this point, the market will need to change a lot to make new 2 year contracts attractive.

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I agree, they should have been more transparent about the hack and their intended resolution