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Author Topic: Is Genesis Mining Scam?  (Read 1314 times)
KingScorpio
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March 01, 2017, 01:14:40 AM
 #1

2007 Icelandic Banks screwed the clients all over the world by claiming secure and higher than normal interest rates, the bankers fled Iceland after the financial crisis, Is this about to happen in a different way again?

Genesis Mining now finances itself by selling "Lifelong Hashpower", but they say that they only provide lifelong hashpower as long it works profitable for them!

Many people dont even realize, that this means that their Hashpower investment doesnt just has to pay for their electricity their IT Hardware, their buildings but also for everything else the company Genesis Mining claims as costs Including the salaries of their workers and especially their corporate elite.

How will this end up?
When will Genesis Mining rob their Investors of their hashpower and claim it as their own?
Is there a way to defend themselvs against that?
Did anyone of you invested into Genesis Mining in Iceland?
Do they lack transparency?
Should their Investors have the same rights as regular Stockholders?

I think everyone who gave them money is surely screwed and can be happy if he gets his money back at all.

regards

Scorpio

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pixelpowered
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March 01, 2017, 02:42:32 AM
 #2

2007 Icelandic Banks screwed the clients all over the world by claiming secure and higher than normal interest rates, the bankers fled Iceland after the financial crisis, Is this about to happen in a different way again?

Genesis Mining now finances itself by selling "Lifelong Hashpower", but they say that they only provide lifelong hashpower as long it works profitable for them!

Many people dont even realize, that this means that their Hashpower investment doesnt just has to pay for their electricity their IT Hardware, their buildings but also for everything else the company Genesis Mining claims as costs Including the salaries of their workers and especially their corporate elite.

How will this end up?
When will Genesis Mining rob their Investors of their hashpower and claim it as their own?
Is there a way to defend themselvs against that?
Did anyone of you invested into Genesis Mining in Iceland?
Do they lack transparency?
Should their Investors have the same rights as regular Stockholders?

I think everyone who gave them money is surely screwed and can be happy if he gets his money back at all.

regards

Scorpio

Your catching onto it  Grin and made simple and concise points.
We're also talking about on here as well.
https://bitcointalk.org/index.php?topic=1185909.0

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