Is Genesis Mining going bankrupt?
Twitter is on fire with angry customers waiting on payments from Genesis Mining. If you have an account at Genesis-Mining.com, and have purchased cloud mining hash power from them in the past year, you know exactly what's going on. Here is a copy of pending payouts from one account:
13.08.2017 ETH 0.00223610 i
12.08.2017 BTC 0.00059662 i
12.08.2017 BTC 0.00000675 i
12.08.2017 BTC 0.00003748 i
12.08.2017 ETH 0.00236878 i
12.08.2017 ETH 0.00236878 i
11.08.2017 BTC 0.00000724 i
11.08.2017 BTC 0.00004737 i
11.08.2017 BTC 0.00059802 i
11.08.2017 ETH 0.00229940 i
10.08.2017 BTC 0.00243304 i View Transaction
Also commission payments are backed up in the same account:
2017-05-21 2017-05-27 00:00:01 7.48965 Expired after payment
2017-05-22 2017-06-23 00:00:01 1.4375 Approved
2017-05-22 2017-06-23 00:00:01 1.625 Approved
2017-06-07 2017-07-09 00:00:01 1.625 Approved
2017-06-13 2017-07-15 00:00:01 3.75 Approved
2017-06-15 2017-06-21 00:00:01 2.82408 Approved
2017-06-16 2017-07-18 00:00:01 2.8125 Approved
2017-06-23 2017-06-29 00:00:01 0.74614375 Approved
2017-07-09 2017-08-10 00:00:01 2.25 Approved
2017-07-09 2017-08-10 00:00:01 2.25 Approved
2017-07-09 2017-08-10 00:00:01 3 Approved
2017-07-09 2017-08-10 00:00:01 4.165 Approved
2017-07-09 2017-07-15 00:00:01 5.62464425 Approved
2017-07-16 2017-07-22 00:00:01 7.4887875 Approved
As you can see, there have not been any daily payouts since August 10th.
So what's going on? You can read about what Genesis has to say on their Twitter account:
https://twitter.com/GenesisMining?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor
Or watch a recent video Genesis posted about the situation at Facebook:
https://www.facebook.com/GenesisMining/
If you are worried, you should be. It seems this is how it always happens when companies go under.
But, before you give up entirely, take a look at the main wallet for Genesis:
https://blockchain.info/address/12cgpFdJViXbwHbhrA3TuW1EGnL25Zqc3P
At todays bitcoin price, over $12 BILLION dollars has passed through that wallet, and it has a recent balance of 350 bitcoin. You can also monitor payouts, which it seems are getting back up to speed.
Let me know what you think the odds of them continuing operations this year, and keep an eye on their wallet.
Let's hope they pull it all together. We could do without the collapse of a major player at this stage, although I do think that btc has grown enough to handle it.
no ... its just that genesis mining has put all the withdrawls on hold due to the hard fork of bitcoin early this month becuase of the security reasons ... they will soon release the funds... i guess after 22 august..
They just paid out those 350 bitcoin minutes ago, and now there is a new balance of 250.
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STOPI think they were really not ready to handle a hack in a proper way and they totally didn't understand the work they had to do... anyway there is not much we can do... just waiting...
It's almost 20 days after the fork