RE: Genesis Mining still not paying? Follow up.
Cloud mining skeptic here. It's that implausible loop of "we have equipment to mine a lucrative object yet we're offering you our equipment to assist you in mining these lucrative objects -- and conundrum of why won't you mine and keep those lucrative objects yourself in the first place question?"
Of course (again very matter of fact), is we want to increase capacity to scale and getting better economies of scale. Yes all true again. You get paid. True. You get a referral code. True.
But then it's literally building on clouds cos we as the user will never actually know when they are not mining anymore yet due to their network effect, users getting users via referrals and thus cash or bitcoin flowed in (the irony) - and yes you can still get paid. But one day, those level 20 persons will not get paid.
Just skeptic. Not negative. Have fun in bitcoins, though be safe.
(And safest is simply to buy bitcoins quietly and keep them quietly and safely.) Cos this (fiction) could happen:
https://steemit.com/bitcoin/@tuventure/fiction-how-usa-will-be-taking-down-bitcoin-during-next-financial-crisis
Nah, I agree completely. I would like to add more hashpower to my account, but will not .
2 Things that are in miners favor are 1) Several customers have visited their facilities. They do have tons of Antminers. 2) Today for example, they have paid almost 2000 bitcoin to customer wallets. The blockchain doesn't lie. That in itself doesn't support Genesis, like you say, it could be an 'implausible loop', using bitcoin from the newest customers, but I don't think they have a lot of new business with all the bad press, so coming up with 2000 BTC, which is over $8 million USD would be a problem. If they were simply a complex HYIP, Marco Streng wold have just taken the $8 million and disappeared.
I just read your linked article and what's scary is that is definitely plausible.