One of the biggest and most successful cloud mining contractor Genesis Mining is holding back mining payments since one week with a few delayed payouts in between. At the moment they keep one full mining week in their wallets as the payments are shifted, 23th of August had been paid yesterday.
Most of the customers are complaining and feel ripped off as they have no chance to hold their funds in a wallet where they either control their private keys or get bitcoin cash for holding the funds on an exchange (e.g. bitfinex). For some it's a few bucks a day which add up to seven times a few bucks. For some it's a massive amount of money which is adding up to seven massive amounts of money missing.
What's your opinion about this? Genesis is updating their customers through their twitter account https://twitter.com/GenesisMining/ where they made loads of unfulfilled promises about the payments. Automatism is a nice thing when it comes to automatic payment but i put it that way: If their customers need would be their highest priority they might stay longer in the office to do the payouts manually.
Give me your thoughts. Are you a customer of gensis mining? How do you feel about your missing funds and the loss of bitcoin cash on 1st of August?
I think they broke their part of the contract with their subscribers, so I think subscribers should be entitled to get their complete investment back - in bitcoins, not in usd of course - if they agree with such a proposal from GM.
I agree i think Genesis i waiting til august 1st to profit from BCC. Very shady.
I guess they do it because they can. According to their twitter page we received our funds triple before august 1st :) If they think about future customer relationsships? There won't be many hardforks within the next years where you have the chance to fuck up like this bigtime. I believe the word will be spread after August 1st and the amount of new contracts will drop rapidly. It remains to be seen if and how long they will stay online...
Yeh some kind of compensation would be great for a week without payment. This made a lot of people lose trust in the website. Hopefully they make up for it.
true that. ...and hopefully they continue.. they didn't completly payout the 23nd. got my btc but missing my dash. i hope this is not another sign of a shutdown after the fork.
Hey I am mining with them. I think it is a poor way how they handled it. i also wrote a block about their comms. check it out if you like:
https://steemit.com/genesis/@attalis/hack-resolved-genesis-mining-resumed-your-pay-outs
This was when they resumed the first payout. They should have been more open about everything. Including the lack of payments they are doing now.
I am not that worried as i am sure we will get our due crypto rewards. Its just annoying to me and their comms give me less confidence in the company.
Good post btw, good you included the twitter account. Upvoted!
Thank you for the upvote. Well i thought the same about how open they've been about the hacking attempt and so on. Right now it just smells like everything was made up that they have the most btc in their wallets as possible. It's curious that the payment stopped after it was clear that there will be a hardfork.
Yeah i was very happy about the resuming too. But they didn't hold up to their promise of having two days paid in once and now it's a gap of a week which stays. Day by day..
As we cannot take our money out again, i just hope they stay online after 1st of August. Maybe the fork will bring the price down for long enough to cancel all the sha256 contracts in once. If that happens they must be glad they made just an extra amount of money whilst keeping the btc for 1st of August. Many ROI aren't passed atm. Exciting times for cryptos :)
I have stayed away from Genesis Mining and Bitconnect. Both seems too complicated and too much work. That said, I think Genesis mining will be back online soon and running the way it used to.
I moved all my BTC to get my "free" BTCC. I haven't looked into where to sell it after August first yet.
Anyway, if you haven't heard of Control-Finance, I suggest you check them out. They're very similar to Bitconnect and Genesis mining. They pay 1% daily and are very easy to use. Just like all investment, do research before getting into it. (You can check out some of my steemit posts about them).
Here's my referral link if you're curious: https://control-finance.com/?ref=LongStockSilver
Feel free to ask me questions, if you have any. Otherwise, I hope Genesis mining starts working for you again soon. :)
Thank you. Do you reinvest at Control Finance? I saw them in some youtube videos but all the ppl are reinvesting. Are they really paying on a withdraw? :)
I am invested in Control-Finance! That is my referral link above. :)
I have not withdrawn yet. I have seen videos where people have withdrawn (in BTC and other withdrawal options).
Right now I'm reinvesting. I originally put in $10 because I was unsure about it and had no problem risking $10 for what they're offering. Since then, I put in $293 more. I made a bunch of spreadsheets to calculate earnings and I have confidence that at the very minimum, I will get all my investment back.
That said, I posted an article on my steemit today called "Is Control-Finance a Scam?" Check it out.
Feel free to use my referral: https://control-finance.com/?ref=LongStockSilver
But like any investment, look into it and research first. I'm happy to answer any specific questions you may have. I'm personally excited by the prospect of it. My spread sheet has me reinvesting until 12-8-17 where I will be getting $20 a day. From there, I plan to withdrawal for 15 days to get my investment back. If all goes well, I will be making $20+ a day in 2018. :)
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