Aiiiy!! Genesis mining. I find thier latest email to the community worrisome and frankly annoying. One of their main excuses for not paying out is their growth over the last few months. This is rediculous. Everywhere I look I see them continuing to hevaiky advertise for their mining service, yet they can't even contain the growth they have now and they're screwing their current customers.
They are breaching their co tract with thousands of people by not consistently paying out. Why, then would they continue to try to expand customer growth if they can't keep up with what they have?
This seems like false advertising and broken promises.
boldGenesis mining email:
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Payout Updates & Bitcoin Reaches All Time High
Hey miners!
We'd like to share an update on Genesis Mining news as well as events in the cryptocurrency industry!
As many of you know, we're still in the process of returning to our usual daily payout schedule. Reason for the delayed payouts besides the general new security and infrastructure upgrades is our continuation on improving the payout boldsystem itself, as our service needs to be able to handle an ever-increasing number of new users. Please rest assured that all of our mining operations are running stable and are secure. This said, new bulk payouts are already en route to your wallet and should pop up soon!
Paying a daily mining revenue to all our users remains our top priority (and has been for over three years of service) and we assure you that everybody will receive their hard earned coins and no hash will be forgotten. If you haven't seen it, I shared a video in our Enigma facility talking about exactly these points.
If you opened a ticket we will take a look at your account as soon as we can and provide assistance. Please note that our customer service response times can currently be longer than 72 hours. Please see our recent blog post for more information.
While we're focusing on getting everything back on track, I also want to note that there are companies using our brand and falsely claiming to be associated with us, or in the worst case, try to impersonate us for fraudulent reasons. Please see this blog post to see how you can stay informed.
These last few weeks have brought a boom and a lot of excitement for the cryptocurrency world. Despite concerns surrounding Segwit activation, Bitcoin shot past $4,000USD!!! Bitcoin cash is up and running as well, holding steady around $300. These are exciting times for Bitcoin and cryptocurrency, and we're excited to be on this journey together with our customers.
Additionally part of their email is that Bitcoin pice has gone up! Duh! We don't need Genesis to tell us that. Its smoke and mirrors. Distractions!
Part of their distraction campaign
Finally, I want to thank you for your trust and confidence in Genesis Mining, every one of you help make this possible, which is why we're working around the clock to resolve and restore all payouts, and working to prevent disruptions in the future.
Sincerely yours,
Marco Streng
CEO Genesis Mining
PS. The next newsletter will feature a nice surprise from behind the scenes!
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Disclaimer: Genesis Mining is offering to rent hardware to clients for mining purposes. Clients that only rent hardware under investment considerations are reminded to carefully assess the underlying risks of such an investment in hardware themselves.
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The only time cloud mining is considered in my book is when we're in a bull market. Go figure That they would have issues when it's most profitable.
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I sure notice that as well... Do they think we are stupid?
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I think the problem is they offer more contracts than they are actually mining which is great in a bear market but will wreck them in a bull market.
Just look at Jeff Garza of GAW Cloud mining. Dude just plead guilty to fraud of like 8 million. And that's not even counting what the SEC will do to him.
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