sorry for the double post. For the record, I paste GM's answer that I received after I asked them why my payouts dropped by 85 % after the halving:
On Saturday, July 9th 2016 the so called halving took place on bitcoin, meaning, the reward that bitcoin miners will receive was cut in half.
The details about the halving can be read here for example:
http://finance.yahoo.com/news/bitcoin-halving-blockchain-mining-000000868.htmlhttps://en.bitcoin.it/wiki/Controlled_supplyIt lies within the algorithm of Bitcoin, so unfortunately nothing can be done from Genesis Mining side to help you.
Discussions about the halving where online month ago as can be seen here on these links on well known forums and chats like reddit and bitcointalk:
https://bitcointalk.org/index.php?topic=1216445.0https://bitcointalk.org/index.php?topic=1428863.0https://www.reddit.com/r/Bitcoin/comments/3q59uu/9_months_until_block_reward_halving/With signing your contract, you agreed also you know the nature, and this includes also the halving, of Bitcoin.
"THE CUSTOMER REPRESENTS AND WARRANTS TO THE SERVICE PROVIDER THAT HE IS FAMILIAR WITH MINING, CRYPTOCURRENCIES AND BITCOIN IN PARTICULAR AND THAT HE UNDERSTANDS THE NATURE AND USES OF MINING CRYPTOCURRENCIES AND BITCOIN. " as stated in chapter 7. Representations and Warranties of your agreement.
This means also, the the hashpower you purchased with us is mining more than 50% less than on friday.
Why more than 50%?. Because we, as usual have to deduct the maintenance fee from the original earning and this means more than 50% less payouts.
Due to that fact, your earnings per day became less than the maintenance fee (USD 0.00099 per GHs/day) your contracts became unprofitable. Those were a lifetime contracts, but they run for as long as payouts are profitable. We deduct a daily maintenance fee from the generated coins that covers all ongoing costs like electricity costs, cooling, maintenance work and hosting services. If the ongoing costs exceed the mined coins, there is no point in mining anymore - since you as a customer would have to pay more for the mining than you actually get out of it. We don't charge you for this difference. However it is economically reasonable to stop the mining if it is clear that this difference does not become positive again. This is why according to the contract you agreed on chapter 4 we have the right to terminate the contracts after 20 consecutive days of negative payouts.
All the payouts and the deduction of fees can be recalculated at the independent site coinwarz.com:
Please set as usual the Watts to 0 as well the $/kWh.
We are just providing the hashpower you ordered and do not provide any estimates, expectations and calculations on ROI.
Thank you for your understanding.
Best regards,
Genesis Mining