[2015-11-26] Bitcoin Cloud Mining Provider Genesis Mining Reaches 100,000 ...

[tyz]

Bitcoin Cloud Mining Provider Genesis Mining Reaches 100,000 Customers, Announces Black Friday Discount

Genesis Mining, the world’s leading bitcoin cloud mining provider, announced their most important milestone but right now: the acquisition of their 100,000th client.

http://www.cryptocoinupdates.com/bitcoin-cloud-mining-provider-genesis-mining-reaches-100000-customers-announces-black-friday-discount/

[loki0505]

thanks for this. i just signed up and upgraded to 1THS

[odolvlobo]

I sure hope this isn't a huge ponzi scheme.

I did some analysis. Because the $1.20 per TH/s per day maintenance fee seems to be more than enough to pay for operating costs, I am less suspicious of Genesis Mining.

However, my analysis also shows that if the difficulty increases 2% per period, then the 1000 GH/s contract lasts for 535 days and never recoups the initial cost.

[rammy2k2]

im always having second thoughts when its about cloud mining, i cant remember even one example who lasted more then 1 year.