I think you guys are aware of what Genesis-Mining do other than scamming people with their contracts which don't even give you the return on investment. They provide mining contract that look like a real deal. Cash generating machine etc.. we'll cover that in a different post.
So, lets start with this one!!
As soon as I started my contract, I realized that this crypto currency or bitcoin mining, cloud mining isn't my piece of cake and I also had some emergency. So, I had contacted customer service for cancelling my contract. And in the term when you agree to start a contract it mentions that either party can cancel the contract for a good cause.
And here comes the reply from the CUSTOMER SERVICE with their best reason possible:
"Unfortunately, we do not accept refunds as stated in the clause 4 of your signed agreement.
We do not issue refunds also because we have invested your payment in mining infrastructure.
Investing in cloud mining is not without risk and we expect our customers to be aware of that and do their own research before purchase."
My reply: I mentioned that I have some emergency and I don't want to continue with the contract and also messaged them saying that you can deduct fee for the entire month or 2 months. But! But he still tries saying that we only cancel the contract when Genesis-mining is at fault.
To which I reply: THEN WHY THE HELL CONTRACT SAYS EITHER PARTY CAN TERMINATE THE CONTRACT.
And customer service says that we are paying you and shows me that random numbers which genesis mining generate in your payout section. So, we're not at fault. Then why does contract says "EITHER" can terminate contract.
My reply: I refer to some websites that claim genesis-mining is scamming people and giving miscalculations of the outputs
His reply:
He just used the historical income (income that was generated for the work done 24-48hrs ago) and calculated the today's output for mining and tried to explain me that you are getting more than what you can see on the website and says "These are the calculations using coinwarz and deducting the fee in an excel spreadsheet. As you can see, we are actually yielding more payouts than the theoretical values due to the good work of our IT team."
And after every reply he sends, He closes the case as case closed. So, I'm still working on it and will keep you guys posted. And please share your experiences with Genesis-Mining.
Great article!
I wouldnt advise anybody to invest into cloud mining. However, with growing price of BTC, their life-time contract will be eventually generating profit after one year. Its my own experience as I was "silly" and purchased the BTC life-time contract. Cannot speak for ETH contract.
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