Hi guys. I heard about Genesis Mining about a month and a half ago when I got into cryptocurrencies. First, when I dug into this business I did my own research and subscribed to a lot of interesting channels where people talked about each and every cryptocurrency, and then at the end, one or some of them advertised Genesis Mining and they gave their coupon to get 3% discount. There is nothing wrong in it. Do not get me wrong. :) I love it BUT I started looking into this business more and more closely. I am a physicist myself, and I am a technical guy. I heard different opinions about genesis mining and some of them crossed with my opinion which , I think, would be negative for some of you, but it is what I really think about it. If I were to start this kind of business I would build a large center but it would be still limited, and I would never be convinced that 500E6 people can be a part of this kind of thing where anyone can book a contract for 2 years to get 100 Th/s to mine bitcoins, it is just an example. The way they do business, and again, it is just my view, the equipment is limited, but a lot of people buy processing speed to mine coins but the company forces their clients to make referrals. So, it is a pyramid where the former people make a lot more money than the latter ones who go into this thing late. Again, I believe that the equipment is there and some people really do mining, but not all of them. People who got into this business late get some lumps from the customers money. And I hear a lot of complains that some people do not get daily amount that is promised to them by the Coinwarz calculator. And the other thing is their gigantic percentage, 28% to use the pool. I think it is best to buy your own equipment and mine. You know that the thing is there that brings you a profit and if you get less profit this month than you got last month you can easily figure out the reason unlike when you deal with something in the cloud...
And a few words about bitconnect, I come from Russia where similar schemes were introduced back in 90s after the fall of the Soviet Union. Yes, the crooks have been out there for a long time, and their schemes have been always different, but COME ON. This scheme is freaking trivial. It is a financial pyramid where people try to suck into the scheme as many people as possible. As long as the loop is open and the fresh stream of people is coming some of you will get a profit, once the loop gets closed all that crap will fall, and the owner, Sergei Mavrodi, will get away with all your money. I do not know for sure that that guy is behind this scheme, but I just feel it. So, please do not get hooked for easy money. There is no such a thing. It does not simply exist. Think more and do not listen to anyone. Invest wisely and do your own research... A lot of people prefer to do nothing and "legally" rob other people. Thanks!
Congratulations @kirillpushkin! You received a personal award!
You can view your badges on your Steem Board and compare to others on the Steem Ranking
Vote for @Steemitboard as a witness to get one more award and increased upvotes!