Genesis Mining Payout Issues/Questions

in mining •  2 years ago 

When I first got into crypto currencies, I wanted to learn about every aspect including mining. Unfortunately, I impulsively bought some mining contracts on Genesis before figuring out that it is better to just buy the coins and hold. Either way, I bought a small XMR, ETH, and BTC contract, so I would like to recoup as much of my investment as possible. 

It has been 32 days so my XMR and ETH contracts are supposed to start paying out. My entire accrued balance from the first 32 days completely disappeared to zero and I have not been paid a penny. I submitted a support ticket, but clearly they don't have employees who actually work for support full time and I don't expect to get a prompt reply. Should I consider my investment lost or will I eventually get paid the erased balance?

Any stories or help would be appreciated, thanks!

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For my experience with genesis I can tell you that your experience is quite standard, normally you will see the transfer to your wallet with no problems. Start being worry when they totally miss out payout and move to the next one... Missing mine for 19th of Sept but got all the others after it and before it....

Bleh, wish I just bought more crypto or even a GPU over that contract

I have a 8x rig as well.... Since last month I'm moving everything to bitconnect... Mining is fun and and awesome geeky hobby, but to be honest it is not so cool as an investment.

I would stay away from Bitconnect. I know a lot of people can make good money, but that doesn't mean it isn't a ponzi scheme. It will come down one day 100%. The only question is when and how much money people will lose.

The 'algo' to be honest works with a simple investment strategy, if BTC goes up you get nice returns, but always lower than the real BTC daily change, if BTC goes down you basically get 0.01%-0.05% which is almost close to zero. Plus BCC is a PoS system and by lending BCC back to them they are producing more BCC for themselves. If they really introduce the card to spend BCC in real-life I do not think the system will go down anytime soon. Plus overall I'm having a way better experience with them than Genesis ;)

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