It's fairly self explanatory, I haven't received any payouts from my mining contracts since the 20th. That's 2 days missed payouts, with today marking the 3rd if that also goes missing
I hope your not planning on burning me...
I have been burned bad from mining in the past and started to believe things may have changed...
I finally gained trust in your company after removing myself from the mining scene for nearly 2 years
- Now I'm fearing the worst
Luckily, I recieved a solid 1.5 months of high payouts right as LTC and ETH were skyrocketing so I ended up with roughly 40% of my investment back.
But I still consider being in the hole $1,000 with the expectation of having 21 months left of mining!
Unfortunately, this seems to be the most common method of cloud mining scam playing out.
- 1st - They gather funds and act legit by paying out consistently to gain trust
- 2nd - Continue operations successfully as more and more users join and buy contracts
- 3rd - Spend users funds, hide mining revenues, become very rich while paying old users off with new user funds
- 4th - Once the flow of new users tapers off and more mining revenue is used for existing customers, stop paying out
- 5th - Wallet hack/ data center explosion/ terrorists? (Something catastrophic)
- 6th - Disappear with funds and close shop
I'm not saying this is absolutely going to happen, but it sure seems to be following suit to the previous cloud mining ventures I have been involved in...
In my opinion, This doesn't look good at all
Until further notice, Do Not buy contracts from Genesis-Mining
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@generation.easy
a bitcoin fanatic and alt-coin enthusiast