Genesis-mining has been refusing to payout my DASH and XMR balances for weeks now, all of my balance went to 0 and after numerous tickets and run arounds, It looks like they are simply not going to pay up.
Hey all first post here... Interested to hear how this works out with Genesis for you. Assume you have already received payments and your past their 30 day hold on new credit card based purchased or you paid with BTC. I recently purchased a couple X11 contracts and with the current price of Dash and other Alt Coins the ROI surely looks promising. I see the daily pay-outs accruing on my account but haven't got payouts transferred to a wallet yet as its only been two weeks. From the first two weeks the ROI break even is like 5 months though and its a 2 Year contract.
Looking over this thread seems it is very BTC focused and the X11 contracts at Genesis has been revamped significantly it appears from what they were a couple months ago. Unless they are truly not paying I don't know how they wouldn't be profitable with the current run-up in altcoins. Even if it does I'd expect it to bounce back over time. I'm more interested in mining and holding on to the coins for now, so price fluctuation is expected and not much of a concern.
X11 contracts look promising, I already have one and they are indeed paying. My mining revenue is 7% of contract after 9 days, but don't overestimate it. Dash difficulty can rise very quickly and its price can unexpectedly drop. In the best case (10% difficulty increase each month and $100 price all the time, both are very optimistic) the contract will pay 180% of investments in two years (140% in the first year and 40% in the second). ROI breaks even after 7 months, not 5. But if difficulty rises faster and/or Dash price drops too much, it won't even get to ROI at all.
And remember, 500 MHs contract costs $2182.5 (with 3% discount). If you buy X11 asic miner and pay for electricity youself ($0.07-$0.1 per kWh) your expenses in 2 years would be about $1600-1700 and you would still keep the miner - so you can see how "cheap" this contract is. It is just an exception among all GM's overpriced contracts.