Bitcoin Forum
April 20, 2018, 05:05:29 PM *
News: Latest stable version of Bitcoin Core: 0.16.0  [Torrent]. (New!)
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: Is Genesis Mining Scam?  (Read 1341 times)
KingScorpio
Sr. Member
****
Online Online

Activity: 364
Merit: 256



View Profile WWW
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

1524243929
Hero Member
*
Offline Offline

Posts: 1524243929

View Profile Personal Message (Offline)

Ignore
1524243929
Reply with quote  #2

1524243929
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
pixelpowered
Sr. Member
****
Offline Offline

Activity: 434
Merit: 250


View Profile
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

Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!