Genesis-mining - Crypto mining payout halts [Updates]
My previous post :
Genesis-mining - Crypto mining payout halts - WTF!!! (https://steemit.com/cryptocurrency/@fundoing/genesis-mining-crypto-mining-payout-halts-wtf)
Updates:
30.Jul.2017
It seems payout is working again, however, when I have a closer look at the payout history. I notice some days (7days payout are missing in my case) didn't have any payout.
Please comment below and let me know if you have missing payouts as well?
Date(s) didn't have any payouts
18th, 22nd, 23rd, 24th, 25th, 26th, and 28th. It's almost a week.
5 days I am not getting any payouts. Support says they are having difficulty getting back on track. Timing is very suspicious, right before the August 1st fork. Problem didn't start until it was apparent the Bitcoin Cash was going to do its own thing and fork. Maybe they are slow walking the payouts so their customers' BTC are sitting in GM accounts when the fork occurs?? It does not mean much to a small miner like me but if they have 500K customers and they hold enough payouts until after August 1st, they could rake in millions by claiming all that Bitcoin cash and then dumping it.
@clint-ftz
GM has been in business for a while. However, after this instance I am not considering to invest in mining any more as it's very long commitment to a company, also it's more safe to buy crypto directly from exchange. what do you think?
By the way, how do you manage your steem or steemD? I am not aware of any hard wallet that currently support Steem or SteemDollar. Are you putting all your eggs in Steemit online wallet?
I have the majority of my crypto portfolio spread across 26 different coins/tokens. One BTC contract with GM but I have four physical miners coming September/October for LTC. So I just added some mining as another stream of income, maybe 20%. The rest in coins of which 80% are hold and 20% short term trading. For STEEM I am full-powered up for the highest potential.
That's rough. I don't use Genesis Mining, but I've been hearing the same thing.
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How much did you invest mate? Mining btc?
@christ2169
Small investment on DASH mining. about USD120. Just to test out the water and see if it's legitimate company.
Thank you...maybe i will give a try ...
For Eth I am down two payments. Payment appeared to resume onJuly 27, and normally i would get another payment today 07/29.
My LTC payments were coming daily. So, I am down 6 payments. Although payments resumed on July 26th. I had to combine it with the payment for July 27th.
In summary, I am missing payment for July 23rd & July 25 for ETH and July 22 through July 26th for Ltc.
@toadslinger
Are you going to contact GM's support to see if payments are pending or something gone wrong? I raised a ticket but yet getting a reply.
At present, I wasnt planning on contacting support. I will hide and watch until Aug 1st, we'll see how things go.
@toaslinger
FYI
http://blog.genesis-mining.com/genesis-mining-service-update
I received no GM payouts on Sunday. But, by 7am ET on Monday July 31st I received a tripple sized payment for Eth and another for Ltc. Now, all I need to be even is one normal payment today for both Eth and Ltc.
Have the same issue here waiting for 9 days of payouts:( Total of 35+ separate payments missing
@steemhoops99
That's bad, did you email support and asking for an answer?
My payouts have resumed, but they are seven days behind. I'm still a bit upset with Genesis for running the huge transaction that likely caused the flash crash on the busiest day in ETH history.
https://steemit.com/ethereum/@esparky/did-genesis-accidentally-cause-the-ethereum-flash-crash
@esparky
Thanks for updates. I just feel like buying altcoins or bitcoin from exchange is much better than mining with contracts unless you've the mining farm or machines setup already. what do you think?
@fundoing
I agree that buying coins directly (during the last couple of months) made more sense, not sure how things will work out if the coin market goes flat -- mining may make more sense if we have a couple year flat spell.
I have two minimum ETH contracts w Genesis that I bought with BTC profits. When the market was on the upward trend mining made sense, but I had no idea that the difficulty would increase this rapidly. On April 7, 1 MH/s paid 0.00175158 ETH on June 17, 2 MH/s paid 0.00111374 ETH.
Since that time I split the processing between ETH and ZEC, the ZEC mining is a little more profitable by percent of coin.
As for running my own mining equipment, this was something I wanted to do when BTC was $20, but I can't justify a couple thousand $ now. I will stay with Genesis, concentrating on more obscure coins now, my minuscule ETH payouts will go to promising ICOs.
This morning, Genesis made a payout to my wallet, but did not update the daily transactions since the 22nd (on their ledger).