Of course they are lowering prices. Smart buyers are going to services like Hashnest instead and buying S7 hash, which has the best chance of remaining profitable after the block reward halving this summer. When the block reward is cut in half all of Genesis Mining’s bitcoin contracts will be worthless as fees will be higher than mining earnings. There will be much wailing and outrage when that happens, but it is in the contract fine print. It would be better still to wait to buy until this summer when new more power efficient miners come to market at Hashnest.

With the block halving coming and difficult increasing, the companies are developing machines that consumes less energy. I believe that’s why Genesis are reducing the cost of the contract and the fees.

Lol, those comments :)

Easy, just buy a few GH (not a lot, you will lose), and see what are the payouts for months.

I lost several BTC with their Scrypt offer then one more with BTC offer. I’m customer since november 2014.

Buy little and look by yourself you will lose at least 75%.

Lol, I bought on Genesis and one BTC lifetime contract was cancelled because fees were more than payouts and the other is heading that way. I also had Scrypt hash that they killed too. Unless BTC goes above $500 or more you will never ROI with Genesis. It’s a fact.

If a “cloud” miner does not offer a market to sell your hash never give them money. Go to Hashnest if you must have cloud power.

Genesis have 100.000 customers. I can understand these haters on the comments.

The problem is the bitcoin diff growing. Not Genesis.

You guys should try Ether and X11 contracts. Such profit!

You throw around the word “scam” like it’s a fact, instead of just your personal experience. It’s not really Genesis’ fault you didn’t think through the contract and read the fine print on when a BTC or LTC contract is ended.

I on the other hand, did. Instead of buying “lifetime” contracts which end depending on the difficulty/profitability, I’ve been a happy customer with x11 and Ether contracts, and thanks to the recent jump in Eth price, will ROI waaaay ahead of schedule.

I think the “problem” is your own ability to think through your investment. :)

@brads: I made ROI today. Which gives me ~8.5 months of all PROFIT! :D :D

Like I said, studying the trends and making educated purchases is how you mitigate cloud mining risk, not blatantly blaming the vendor hahaaha

It is not a scam at all. You are really misunderstanding how it all works. You made a very significant and common error, which I cannot blame you for, as the site has some missing headings in my opinion.

What happened is you are paying for hashrate to hash sha 256 algorithm. So they mine bitcoin(BCN) which is on a sha 256 algorithm. Then if you choose to not take the BTC and opt to “mine” Dogecoin(which is a scrypt algorithm), all that is happening is they mine BTC and transfer it to dogecoin at market price before sending it to you. Therefore if BTC fails to rise in price at the same rate as the coin you opted for as your pay rewards, you will lose out on the exchange rates. :(

Also make sure to use BCN to deposit and also take rewards in BTC; or (ETH to ETH, etc.) unless you have a comprihensive understanding of exchange rates and the risks involved in these trading markets.

I would also like to mention to make sure to use a sturdy wallet with the capability to accept mining rewards. Although this is not 100% necessary, it will ensure your payment rewards.

I myself have seen ROI in just under 8 months and from here on it is all profit with their open ended contract. Yes there are fees involved and you will gradually mine less as the difficulty goes up to a point where eventually your daily earnings will not cover the daily fees. At which time the contract ends. I am far from this point even taking into account the future rise in block difficulty and increase in world hash rate.