Quote from: minator99 on January 17, 2016, 04:26:51 PM

Quote from: Makingsure on January 17, 2016, 04:12:12 AM

Quote from: tokingtoking on January 17, 2016, 04:02:06 AM

about 36% drop for today PO. argh...

aye, was thinking the same. it's evident my contracts will be null soon, thank god they were super small.
strangely i am more at peace as they end, kinda happy to be away from this company i guess Wink

Why are you so complacent about the prospect of Genesis Mining just terminating your mining contracts? They sell most of the contracts as a "lifetime" contract. These are therefore long-term contracts. Many of the Bitcoin mining contracts that are now paying a few cents per day have only been running for a few months. Buyers have not even received their purchase money back, let alone any return on investment.

If Genesis Mining want people to purchase mining power, then they should NOT exercise the termination clause. In the contract it says they "may" end the contract if there are no payouts for 20 days. They should not exercise this option if they want people to continue to buy contracts with them.

I have bought hashing power with Genesis Mining rather than my own equipment. It is not good business practice for them to terminate my contract and resell this hashing power to someone else. Bitcoin mining profitability goes up and down. I understand that there may be periods when it is not profitable to mine, but these come and go.

Genesis Mining should just suspend the contract until the bitcoin price/difficulty changes and produces a return again. They should not take away the hashing power I have paid for and resell it to someone else. The resulting bad publicity on social media would greatly affect their business and they would be foolish to do this.

I agree 100 % as do most of the people on here that helped buy these dick heads warehouses full of mining equipment. Good service isn't a priority here, I've been dealing with this "company" for a few years now they just don't care. If anyone is thinking of giving them money just don't do it, go buy your own gear at least then you can get ROI if your smart. This is just a big scam like all of the others to pay for fancy pants to go to conferences and pretend they are a legitimate company providing a service to new people so they can continue taking in money. Same old crypto shit pretty much.