Investing 18 000$ usd in genesis mining ; a decision i will regret a long time
My story started a few months ago while i was researching cryptos before investing in them . So many opinions, scams, all kinds its unbelievable. I found this guy trevon who was doing videos on youtube , i followed him a while and at that time i thought was he was saying made sense and he was talking about genesis mining that look like a good option for mining. I thought my choices ; buy cryptos or mine them. I looked around and the fact to have the equipment at your place can be tricky as it cost electricity and if machine break you dont mine anymore. Even if the hashrate was better i thought genesis mining would be a good option. After checking online on forum and review places , bitclub network was the only other option who have value but the comments werent that good, so i said genesis it is. After comparing the different contract and mining option i took the decision to buy x11 as trevon was saying it was the best and the difficulty was ,in my mind, even if it increase never affect that much as pretty much only genesis sell x11 that much .Bictoin difficulty go up too fast so i thought it was a good option . I didnt thought it would made me rich but i thought it would be a good option. I went in 18k and bought 4040 Mh/s of x11. (first picture)
Were 3 months in and i got back around half my money (9500) so yet it was still looking good ; but last month genesis put a tons of new x11 on the market which increase the difficulty not by 20-40-60 % but by 300 % and its only the beginning cause the new d3 from bitmain are doing 15000 Mh/s for around 2600 Usd buying cost. Its a real joke and not only i wont make a profit but i will lose a major part of my investment as now its almost not paying on top of missing payment and very soon crazy high difficulty. Next month delivery of bitmain miner will kill all hope from me to at least see my money back. (see in previous pictures my earnings are more then they should be , they were around 9500 when the hack happened)
(in those 2 screenshot you see missing payment s,no transactions, missing days)
This was a 18000 Usd investment, so everyone that put money there ,small amount even more will never see their money back. Genesis is a form of ponzi for the fact that its never a possibility to make your money back and if you complaint they tell you do refer people to help your case. Like trevon , that guy now hes doing money cause of his tons of referral but never risk his money at the beginning ,so for him it all looks good cause its pure profit. good job on the marketing trev but for the rest of us its a fn mess, we all lose our money while you laugh by "counting your coin " when you should help all the people listened to you and put money in genesis . The worst of all is the suppose hack that happened recently ; one of the thing i saw when it came back is the total of earnings i supposly received are 25 % higher then they were.Cause they count the value of today but you received the coins with a lower value,to make it look like your gains are higher then they really are in reality. I have no proof, im only assuming that its volontary. I think they made a fake hack then restore everything but with the coins value of today to make them look less like a scam by boosting your earnings. They see that their is no way of making back our money so like that they just increased the value of their payout to todays market value. I would strongly suggest to everyone to stay away from that company as its impossible to make profit with them,only lose your money . I have 21 months left on my contracts (4040 Mh/s x11 paid 18k) i would consider any serious offer . If you still want to invest in genesis , you can use this code to have 3% discount ML4FmJ https://www.genesis-mining.com/a/767150 ( and help me in my losses. I will leave some addresses below for donation as now ill accept any help. Please share this post as yes it will help me financially but more important it will prevent other people to invest anything in their scam .My next post i will talk about the alernative i found to genesis which is stable , legit , will always pay the same , follow me to find out
comment below your thought about the genesis hack and if like me you saw a major increase in the value of your earnings
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its a total joke , not only they are overselling mining contract not profitable but they operate under multiple name http://eden-mining.com/contact/
http://www.trillionbtc.com/privacy.php
"... cause the new d3 from bitmain are doing 15000 Mh/s for around 2600 Usd buying cost. " Do you think Genesis Mining was in the know for this and that was why they reopened the Dash contracts back at the end of June?
my batch was the one before but with the number of machine they buy , im sure they have a rep at bitmain who told them, these guys are thieves, there is no way of making our money back