I have lost all faith in Genesis Mining. You buy your hashpower through them and then they wont give any figures as to how that hashpower is performing. It's impossible to work this out from the payouts. They benefit from lowering your payouts to zero as they can then keep the hash power you have bought, and sell it to someone else. A genuine company would not operate like this.
Constantly cancelling long-term contracts after a few months, leads to the conclusion that they are constantly reselling the same amount of hashpower and not expanding.
Genesis Mining must do everything they can to keep contracts going for a reasonable amount of time and not just cancel them. Only then can confidence in this company be regained.
I have also wondered if maybe everyone's lifetime contracts magically drop in payouts as they approach and pass ROI.
Someone should set up a site where Genesis investors can anonymously share their Payout/Hashrate ratio in bulk, and what they are mining. This would quickly identify any inconsistencies. Ideally people would share a wallet Addy so those payouts could be verified but I don't believe this level of trust would be viable unless only done between trusted friends.
Genesis: Understand please that if you keep your investors in the dark, the smarter ones will eventually organize and find ways to enlighten themselves.
I have explained how you can quickly calculate the expected BTC payout:
https://bitcointalk.org/index.php?topic=602022.msg13555299#msg13555299My calculations for the last couple of months clearly show that the BTC payouts make sense. I also track DASH payouts and they are in line with expectations, too.
I have once asked talked to GM on a conference. With a lifetime contract you are basically buying a miner. If the miner does not generate enough coins to pay for electricity, the miner will be turned off. It is the same as if you buy a miner for your home. Depending on electricity price you will turn it off at some point in time.