I think it is time that I write about my investment failure here as well. Everything was in front of my eyes and I couldn't see the negative outcome.
I have spent close to 12,5 BTC into the service and it cost around 6400 USD at the time. I have spent the majority of my BTC into the service around August 2016. Before that I have made smaller investments to see the service in action. It has been 5 months and I think it is safe to say I won't make it back.
Payments have started from 0,025 and now have fallen to 0,01 BTC per day. The amount I have gotten back in terms of BTC is 3.4 as of today. It is displayed in USD in Dashboard so it says if I have converted everything into USD I'd have made back 3.000 USD. From here onwards until the end of time I'm expecting to make another 1.000 USD so there is a net loss of at least 2.5K USD. In terms of BTC I have lost close to 8 BTC including the remaining payment I will get.
Is Genesis-Mining a scam?
- They don't reveal much of anything about their daily operations, you get payments out everyday.
- They are saying they will give out according to your share in the ever increasing Hash rate world which was aroun 1.5M TH when I invested and it is now around 3.4 M. Obviously you are gonna get less everyday.
- They state how much per GH they will charge for electricity.
So if everything is in front of you and they are saying they will do the job under these terms and you cannot see the future clearly is this a scam? That is an ethical dilemma I'll leave you to ponder about. I can think about that I have supported the BTC community but that's not how I see it.
My lessons learned:
- Don't make an investment decision late Friday night.
- Do not go all in.
- FFS read the fucking forum (I've found this forum AFTER the investment.)
I can provide screenshots and more info if needed.
Edit: If anyone wants to buy 47.5 TH I'm selling it for 3.000 USD, much cheaper then they are selling on their web site
This should be copied to every page of this thread, as it perfectly shows how the scheme works. If more people like you put big money into it the owners are now spending their weekends sunbathing and sipping margaritas. When did you invest these 12.5BTC? Based on that we could calculate your profits from the recent price pump. Buying these coins in Autumn and holding would result in 20% profit and sending it to those crooks cost you time and money.I have spent close to 12,5 BTC into the service and it cost around 6400 USD at the time. I have spent the majority of my BTC into the service around August 2016. Before that I have made smaller investments to see the service in action. It has been 5 months and I think it is safe to say I won't make it back.
Payments have started from 0,025 and now have fallen to 0,01 BTC per day. The amount I have gotten back in terms of BTC is 3.4 as of today. It is displayed in USD in Dashboard so it says if I have converted everything into USD I'd have made back 3.000 USD. From here onwards until the end of time I'm expecting to make another 1.000 USD so there is a net loss of at least 2.5K USD. In terms of BTC I have lost close to 8 BTC including the remaining payment I will get.
Is Genesis-Mining a scam?
- They don't reveal much of anything about their daily operations, you get payments out everyday.
- They are saying they will give out according to your share in the ever increasing Hash rate world which was aroun 1.5M TH when I invested and it is now around 3.4 M. Obviously you are gonna get less everyday.
- They state how much per GH they will charge for electricity.
So if everything is in front of you and they are saying they will do the job under these terms and you cannot see the future clearly is this a scam? That is an ethical dilemma I'll leave you to ponder about. I can think about that I have supported the BTC community but that's not how I see it.
My lessons learned:
- Don't make an investment decision late Friday night.
- Do not go all in.
- FFS read the fucking forum (I've found this forum AFTER the investment.)
I can provide screenshots and more info if needed.
Edit: If anyone wants to buy 47.5 TH I'm selling it for 3.000 USD, much cheaper then they are selling on their web site