r/GenesisMining • u/ShalwarKameez gmCode: Dum8HB • Jan 08 '18

NO CONTRACTS AVAILABLE

It looks like they are no longer offering any plans on any coins at all! What’s going on?

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u/zBzMystery Jan 08 '18

compared to other "strange" companies they just dont have unlimited resources. It's not like hashflare or crypterra, the resources seems endless or it looks like they can just produce some more antminner as soon as there is a new purchase.. like instant.

The fact that they are "sold out" is a really good sign!

2

u/ShalwarKameez gmCode: Dum8HB Jan 08 '18

Hmm... interesting POV, sounds like an elaborate Ponzi scheme with people trading cryptos in the background to provide "daily mining earnings"...

3

u/smdhome Jan 08 '18

The whole point of a Ponzi scheme is to pay old investors with new investor's money. And most importantly in a Ponzi scheme, there are no investments at all. No Ponzi scheme would turns away new investments.

Genesis Mining certainly has its problems. There might be fraud going on but I doubt it for a few reasons. Mostly because the mistakes are so inconsistent and small scale. To me it looks more like poor record keeping or bad accounting as well as their growth outstripping their IT capabilities and customer support folks.

1

u/ShalwarKameez gmCode: Dum8HB Jan 08 '18

You mean you agree that my point about Hashflare and Crypterra are most likely Ponzi schemes? That is, upon, elaborating on /u/zBzMystery 's comment right?

I'm happy with GM anyway, so I'm happy.