(Edited november 2017)
Genesis Mining is one of the well known company of the Cloud mining market but it is a huge scam. No one can make a return on investment with the fees they are taking on "lifetime" contracts. By the way, they are calling it "lifetime contracts" but it will only pay during 2-3 months and will be cancelled when the fees are higher than your payout.
This company is scamming people on purpose : they are selling contracts knowing their customers won't get any return on their investment : That's fraud.
Scammers Profile Link: https://bitcointalk.org/index.php?action=profile;u=247140
We have to spread awareness about it : Newbies in the crypto world are naive and keep investing every day in such a company
I specify : I personaly tested Genesis Mining a lot of time ago. I did ROI the first time (like 3 years ago, probably in 2013-2014) and didn't the second time (2015) but this scam accusation has another purpose than just complaining about "myself" (I didn't invest much). I think Genesis Mining is an organized fraud system and shouldn't be allowed to sell any contracts through this forum
Through this thread, we have collected several testimonies against Genesis Mining :
A lot of people are complaining directly on their facebook official page :
http://imgur.com/7wsvlDo
http://imgur.com/Ot0aYOc
Others are complaining on the forum :
G-M sell delusion to its customers , for example ZEC 1 years contract cost about 0.046BTC, daily earning approx 0.00015 zec , with current price of zec i need 10 years to recover my initial investment.
Up to 2/7/2016...I knew this day would come eventually! I am 168 days into a lifetime 1.5THs contract and it's down to paying $0.02 per day. It's not dead yet but it's gasping for air. I paid 2.6310 BTC for this contract and I've collected 0.5438 in payouts from it and that's pretty much all I will ever see back. I bought this contract as a test hoping to do more later on. What a total waste of time and money. If you are thinking of buying a cloud contract from Genesis because of their slick web site, do yourself a favor and just buy and hold BTC instead.
Feel also free to read this review if you are not convinced yet :
http://kipicommunity.org/genesis-mining-review-is-it-profitable-to-mine-with-genesis-mining/ )
How do they answer to this problem ? How do they justify themself ? : They don't. They just don't say anything and keep selling contracts knowing it won't give any return on investment. Instead of answering negatives posts they delete it from their thread.
P.S. GM, if you delete once again my post I promise to open a topic to ask people how much they lose/win with your SCAM. Of course, ZetaOS and IanFoxley, your evangelists will be forbidden to post.
I also suspect
ZetaOS,
Ianfoxley,
mptak123 of being paid by Genesis Mining. They are always posting everywhere about the money they are making with Genesis Mining which is a blatant lie. As you will see through this thread, a lot of newbies suddenly appears to share "how much profit they are making".
To all of you who have been scammed, to all of you who think they shouldn't be allowed to keep selling contracts : Put a neutral or negative trust on their profile here : https://bitcointalk.org/index.php?action=profile;u=247140. We have to spread awareness about this.yes bro same idea with you , I ve been invested to genesis mining daily profits ver small I cant reach my invested money yet