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Author Topic: Genesis-mining.com || World's leading hashpower provider!  (Read 381757 times)
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nioko
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November 23, 2017, 03:29:44 PM
 #4841

Then once you reach minimum payout threshold switch your allocation to different coin with lower minimum payout threshold and problem solved.

Except when you aren't able to change the wallet addresses, so all your earnings goes to .... not your wallet. And - absolutely no answer to the tickets send.
I wanted to tell about this deception.
I can not switch the currency.
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mptak123
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November 23, 2017, 03:52:31 PM
 #4842

Then once you reach minimum payout threshold switch your allocation to different coin with lower minimum payout threshold and problem solved.

Except when you aren't able to change the wallet addresses, so all your earnings goes to .... not your wallet. And - absolutely no answer to the tickets send.
I wanted to tell about this deception.
I can not switch the currency.



Hi

You can also switch allocation without adding new wallet address so your profits will be accumulated on your account.
Once they will fix your issue then you can add walllet address and switch to different crypto if you want.

Exclusive Genesis Mining 3% offer avaiable with this code uQtLeP
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November 23, 2017, 04:41:02 PM
 #4843

Then once you reach minimum payout threshold switch your allocation to different coin with lower minimum payout threshold and problem solved.

Except when you aren't able to change the wallet addresses, so all your earnings goes to .... not your wallet. And - absolutely no answer to the tickets send.
I wanted to tell about this deception.
I can not switch the currency.



Hi

You can also switch allocation without adding new wallet address so your profits will be accumulated on your account.
Once they will fix your issue then you can add walllet address and switch to different crypto if you want.

Why these dirty cattle from GM touch my BTC account/wallet on GM?
If for two years I could get back $ 25 (80%) now I'm risking to regain no more than 50% or 0 at all.

I have an account. (from which the gm staff stole all satoshi)
I have my own personal BTC address added. (to which the gm staff did not transfer a cent)
mptak123
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November 23, 2017, 05:53:28 PM
 #4844

Then once you reach minimum payout threshold switch your allocation to different coin with lower minimum payout threshold and problem solved.

Except when you aren't able to change the wallet addresses, so all your earnings goes to .... not your wallet. And - absolutely no answer to the tickets send.
I wanted to tell about this deception.
I can not switch the currency.



Hi

You can also switch allocation without adding new wallet address so your profits will be accumulated on your account.
Once they will fix your issue then you can add walllet address and switch to different crypto if you want.

Why these dirty cattle from GM touch my BTC account/wallet on GM?
If for two years I could get back $ 25 (80%) now I'm risking to regain no more than 50% or 0 at all.

I have an account. (from which the gm staff stole all satoshi)
I have my own personal BTC address added. (to which the gm staff did not transfer a cent)


Hi again

I am done explaining here.
I said to you already few times what is going on with your account and you said couple of times that you understand.

Maybe this is why you have negative reputation after all?


Best Regards, Marcin


Exclusive Genesis Mining 3% offer avaiable with this code uQtLeP
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November 23, 2017, 06:14:40 PM
 #4845

Your explanations do not abolish their machinations.
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November 23, 2017, 06:42:51 PM
 #4846

There is stil some SHA256 Bitcoin Mining :-)




Get a HUGE 3% discount with promo code: MOON @ Genesis Mining
https://www.genesis-mining.com
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November 23, 2017, 08:47:38 PM
 #4847

I invested over $2K on a 3000 H/s Monero contract.

They have not been paying my monero and their mining is not consistent.

I raised two tickets already they said i will get it on the next payout which hasn't happened yet. As you can see the last payment was 25th October. They should have paid by now as my balance is above the payout threshold of 0.4.

https://image.ibb.co/b6Qw8R/Screen_Shot_2017_11_23_at_20_51_30.png

I don't like to call them "ponzi-scheme" but that's what they are beginning to look like. They let as much people in as they can instead of taking care of the existing customers.

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November 25, 2017, 06:03:13 PM
 #4848

This whole cloud mining contracts business is a huge fraud; these businesses conduct deceptive business practices, and are in violation with the SEC Section 2(a)(1) [15 U.S.C. §77b(1)] of the Securities Act in the US and the european securities and markets authority. They do not disclose the financial risk to their clients and are in violation with countless regulations.
I am confident an audit would show a ponzi scheme business model. These companies are going to cope with huge law suits. It is just a matter of time before the crack down

Realize that by purchasing mining contracts, you are actually not renting miners but purchasing unregulated securities in an offshore dividends generating company, without the rights attached to regular stock. In short, you own nothing
Think about it, why would a mining company rent their existing rigs if mining is such a profitable investment?
They dont. Your money allows them to expand, market their securities and increase their operational margins. Their profit is therefore the spread between the company mining profits and the investors dividends. Genesis mining sells stocks out of thin air

These mining companies are highly opaque entities; they do not deliver audited quartely and annual returns, there are no meeting of shareholders with the board of directors, they are not regulated by any financial authorities, which is a huge risk for investors as they can easily rig the market in total impunity and take inconsiderate risks with your money. There is therefore no empirical evidence that this whole cloud mining contracts isn’t a ponzi scheme only supported  by a continuous growing flow of investors money and skyrocketing cryptoccurencies prices.
You should ask yourself what would happen to these companies if the cryptocurrencies prices crash; they will likely disappear with your money.

On top of that extreme risk, your securities are highly illiquid and would be worthless in case of a market crash. This combination of undesirable factors must command a very high return to compensate the risk; I am not a probabilistic risk assessment expert, but huge profits would be required to make any sense to an investment professional

I also see a lot of confusion among the comments about how to calculate the actual profitability of the mining contracts
My understanding is that to determine if mining is a sound investment, you should only calculate your ROI based on the inflation adjusted crypto currency return, and certainly not based on the exchange rate.
Think about it, today, bitcoin inflation rate is about 4%, which means that about $14,918,220 worth of bitcoin is created per day by ALL miners around the world; that's $179,018,640 per year which is nothing given the ever increasing pool of miners.

The question should be, if i invest 1BTC in mining operation today, how many BTC will i have in one year (minus the 4% inflation)?
Now, i would be highly interested in seeing the real world numbers;  what is the actual difference bewteen holding bitcoin for 1 year vs 1 year of bitcoin mining contract regardless of the exchange rate, and all fees included from end to end
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November 25, 2017, 07:33:37 PM
 #4849

Ok here's what I did, I transferred my Hashing Rate to ZEC (Auto).  I think what it does is mine Monero and then trade it to ZCash. I started getting paid in Zcash. They still owe me a couple of Moneros though.

I invested over $2K on a 3000 H/s Monero contract.

They have not been paying my monero and their mining is not consistent.

I raised two tickets already they said i will get it on the next payout which hasn't happened yet. As you can see the last payment was 25th October. They should have paid by now as my balance is above the payout threshold of 0.4.

https://image.ibb.co/b6Qw8R/Screen_Shot_2017_11_23_at_20_51_30.png

I don't like to call them "ponzi-scheme" but that's what they are beginning to look like. They let as much people in as they can instead of taking care of the existing customers.


mptak123
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November 25, 2017, 08:05:16 PM
 #4850

This whole cloud mining contracts business is a huge fraud; these businesses conduct deceptive business practices, and are in violation with the SEC Section 2(a)(1) [15 U.S.C. §77b(1)] of the Securities Act in the US and the european securities and markets authority. They do not disclose the financial risk to their clients and are in violation with countless regulations.
I am confident an audit would show a ponzi scheme business model. These companies are going to cope with huge law suits. It is just a matter of time before the crack down

Realize that by purchasing mining contracts, you are actually not renting miners but purchasing unregulated securities in an offshore dividends generating company, without the rights attached to regular stock. In short, you own nothing
Think about it, why would a mining company rent their existing rigs if mining is such a profitable investment?
They dont. Your money allows them to expand, market their securities and increase their operational margins. Their profit is therefore the spread between the company mining profits and the investors dividends. Genesis mining sells stocks out of thin air

These mining companies are highly opaque entities; they do not deliver audited quartely and annual returns, there are no meeting of shareholders with the board of directors, they are not regulated by any financial authorities, which is a huge risk for investors as they can easily rig the market in total impunity and take inconsiderate risks with your money. There is therefore no empirical evidence that this whole cloud mining contracts isn’t a ponzi scheme only supported  by a continuous growing flow of investors money and skyrocketing cryptoccurencies prices.
You should ask yourself what would happen to these companies if the cryptocurrencies prices crash; they will likely disappear with your money.

On top of that extreme risk, your securities are highly illiquid and would be worthless in case of a market crash. This combination of undesirable factors must command a very high return to compensate the risk; I am not a probabilistic risk assessment expert, but huge profits would be required to make any sense to an investment professional

I also see a lot of confusion among the comments about how to calculate the actual profitability of the mining contracts
My understanding is that to determine if mining is a sound investment, you should only calculate your ROI based on the inflation adjusted crypto currency return, and certainly not based on the exchange rate.
Think about it, today, bitcoin inflation rate is about 4%, which means that about $14,918,220 worth of bitcoin is created per day by ALL miners around the world; that's $179,018,640 per year which is nothing given the ever increasing pool of miners.

The question should be, if i invest 1BTC in mining operation today, how many BTC will i have in one year (minus the 4% inflation)?
Now, i would be highly interested in seeing the real world numbers;  what is the actual difference bewteen holding bitcoin for 1 year vs 1 year of bitcoin mining contract regardless of the exchange rate, and all fees included from end to end


I must say you wrote a lot :-)

Unfortunately you don't understand how mining works which is a big gap when it comes to BTC.
Moreover you definately did not see contracts becuase if you did you would wrote it completely different.


Do you homework and come back with full knowledge.


Best Regards, Marcin

Exclusive Genesis Mining 3% offer avaiable with this code uQtLeP
Glucose
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November 26, 2017, 09:17:46 AM
 #4851

This whole cloud mining contracts business is a huge fraud; these businesses conduct deceptive business practices, and are in violation with the SEC Section 2(a)(1) [15 U.S.C. §77b(1)] of the Securities Act in the US and the european securities and markets authority. They do not disclose the financial risk to their clients and are in violation with countless regulations.
I am confident an audit would show a ponzi scheme business model. These companies are going to cope with huge law suits. It is just a matter of time before the crack down

Realize that by purchasing mining contracts, you are actually not renting miners but purchasing unregulated securities in an offshore dividends generating company, without the rights attached to regular stock. In short, you own nothing
Think about it, why would a mining company rent their existing rigs if mining is such a profitable investment?
They dont. Your money allows them to expand, market their securities and increase their operational margins. Their profit is therefore the spread between the company mining profits and the investors dividends. Genesis mining sells stocks out of thin air

These mining companies are highly opaque entities; they do not deliver audited quartely and annual returns, there are no meeting of shareholders with the board of directors, they are not regulated by any financial authorities, which is a huge risk for investors as they can easily rig the market in total impunity and take inconsiderate risks with your money. There is therefore no empirical evidence that this whole cloud mining contracts isn’t a ponzi scheme only supported  by a continuous growing flow of investors money and skyrocketing cryptoccurencies prices.
You should ask yourself what would happen to these companies if the cryptocurrencies prices crash; they will likely disappear with your money.

On top of that extreme risk, your securities are highly illiquid and would be worthless in case of a market crash. This combination of undesirable factors must command a very high return to compensate the risk; I am not a probabilistic risk assessment expert, but huge profits would be required to make any sense to an investment professional

I also see a lot of confusion among the comments about how to calculate the actual profitability of the mining contracts
My understanding is that to determine if mining is a sound investment, you should only calculate your ROI based on the inflation adjusted crypto currency return, and certainly not based on the exchange rate.
Think about it, today, bitcoin inflation rate is about 4%, which means that about $14,918,220 worth of bitcoin is created per day by ALL miners around the world; that's $179,018,640 per year which is nothing given the ever increasing pool of miners.

The question should be, if i invest 1BTC in mining operation today, how many BTC will i have in one year (minus the 4% inflation)?
Now, i would be highly interested in seeing the real world numbers;  what is the actual difference bewteen holding bitcoin for 1 year vs 1 year of bitcoin mining contract regardless of the exchange rate, and all fees included from end to end


I must say you wrote a lot :-)

Unfortunately you don't understand how mining works which is a big gap when it comes to BTC.
Moreover you definately did not see contracts becuase if you did you would wrote it completely different.


Do you homework and come back with full knowledge.


Best Regards, Marcin

We all did our homework. It's just not profitable anymore.

mptak123
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November 26, 2017, 11:15:23 AM
 #4852

This whole cloud mining contracts business is a huge fraud; these businesses conduct deceptive business practices, and are in violation with the SEC Section 2(a)(1) [15 U.S.C. §77b(1)] of the Securities Act in the US and the european securities and markets authority. They do not disclose the financial risk to their clients and are in violation with countless regulations.
I am confident an audit would show a ponzi scheme business model. These companies are going to cope with huge law suits. It is just a matter of time before the crack down

Realize that by purchasing mining contracts, you are actually not renting miners but purchasing unregulated securities in an offshore dividends generating company, without the rights attached to regular stock. In short, you own nothing
Think about it, why would a mining company rent their existing rigs if mining is such a profitable investment?
They dont. Your money allows them to expand, market their securities and increase their operational margins. Their profit is therefore the spread between the company mining profits and the investors dividends. Genesis mining sells stocks out of thin air

These mining companies are highly opaque entities; they do not deliver audited quartely and annual returns, there are no meeting of shareholders with the board of directors, they are not regulated by any financial authorities, which is a huge risk for investors as they can easily rig the market in total impunity and take inconsiderate risks with your money. There is therefore no empirical evidence that this whole cloud mining contracts isn’t a ponzi scheme only supported  by a continuous growing flow of investors money and skyrocketing cryptoccurencies prices.
You should ask yourself what would happen to these companies if the cryptocurrencies prices crash; they will likely disappear with your money.

On top of that extreme risk, your securities are highly illiquid and would be worthless in case of a market crash. This combination of undesirable factors must command a very high return to compensate the risk; I am not a probabilistic risk assessment expert, but huge profits would be required to make any sense to an investment professional

I also see a lot of confusion among the comments about how to calculate the actual profitability of the mining contracts
My understanding is that to determine if mining is a sound investment, you should only calculate your ROI based on the inflation adjusted crypto currency return, and certainly not based on the exchange rate.
Think about it, today, bitcoin inflation rate is about 4%, which means that about $14,918,220 worth of bitcoin is created per day by ALL miners around the world; that's $179,018,640 per year which is nothing given the ever increasing pool of miners.

The question should be, if i invest 1BTC in mining operation today, how many BTC will i have in one year (minus the 4% inflation)?
Now, i would be highly interested in seeing the real world numbers;  what is the actual difference bewteen holding bitcoin for 1 year vs 1 year of bitcoin mining contract regardless of the exchange rate, and all fees included from end to end


I must say you wrote a lot :-)

Unfortunately you don't understand how mining works which is a big gap when it comes to BTC.
Moreover you definately did not see contracts becuase if you did you would wrote it completely different.


Do you homework and come back with full knowledge.


Best Regards, Marcin

We all did our homework. It's just not profitable anymore.

This is something new. You are not calling me a shill?

Do you feel ok?

Mr. Glucose is the biggest Genesis Mining hater who used to have few houndred bucks worth of contract years ago when mt gox happened.

Do yourself a favor and just ignore him or find his topic to check out what he is writing.
Topic is called "Scam alert : Do NOT INVEST in Genesis Mining" and he locked it today so probably now he will spam over here.


Best Regards, Marcin

Exclusive Genesis Mining 3% offer avaiable with this code uQtLeP
Zeta0S
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November 26, 2017, 11:36:08 AM
 #4853

This whole cloud mining contracts business is a huge fraud; these businesses conduct deceptive business practices, and are in violation with the SEC Section 2(a)(1) [15 U.S.C. §77b(1)] of the Securities Act in the US and the european securities and markets authority. They do not disclose the financial risk to their clients and are in violation with countless regulations.
I am confident an audit would show a ponzi scheme business model. These companies are going to cope with huge law suits. It is just a matter of time before the crack down

Realize that by purchasing mining contracts, you are actually not renting miners but purchasing unregulated securities in an offshore dividends generating company, without the rights attached to regular stock. In short, you own nothing
Think about it, why would a mining company rent their existing rigs if mining is such a profitable investment?
They dont. Your money allows them to expand, market their securities and increase their operational margins. Their profit is therefore the spread between the company mining profits and the investors dividends. Genesis mining sells stocks out of thin air

These mining companies are highly opaque entities; they do not deliver audited quartely and annual returns, there are no meeting of shareholders with the board of directors, they are not regulated by any financial authorities, which is a huge risk for investors as they can easily rig the market in total impunity and take inconsiderate risks with your money. There is therefore no empirical evidence that this whole cloud mining contracts isn’t a ponzi scheme only supported  by a continuous growing flow of investors money and skyrocketing cryptoccurencies prices.
You should ask yourself what would happen to these companies if the cryptocurrencies prices crash; they will likely disappear with your money.

On top of that extreme risk, your securities are highly illiquid and would be worthless in case of a market crash. This combination of undesirable factors must command a very high return to compensate the risk; I am not a probabilistic risk assessment expert, but huge profits would be required to make any sense to an investment professional

I also see a lot of confusion among the comments about how to calculate the actual profitability of the mining contracts
My understanding is that to determine if mining is a sound investment, you should only calculate your ROI based on the inflation adjusted crypto currency return, and certainly not based on the exchange rate.
Think about it, today, bitcoin inflation rate is about 4%, which means that about $14,918,220 worth of bitcoin is created per day by ALL miners around the world; that's $179,018,640 per year which is nothing given the ever increasing pool of miners.

The question should be, if i invest 1BTC in mining operation today, how many BTC will i have in one year (minus the 4% inflation)?
Now, i would be highly interested in seeing the real world numbers;  what is the actual difference bewteen holding bitcoin for 1 year vs 1 year of bitcoin mining contract regardless of the exchange rate, and all fees included from end to end


I must say you wrote a lot :-)

Unfortunately you don't understand how mining works which is a big gap when it comes to BTC.
Moreover you definately did not see contracts becuase if you did you would wrote it completely different.


Do you homework and come back with full knowledge.


Best Regards, Marcin

We all did our homework. It's just not profitable anymore.

This is something new. You are not calling me a shill?

Do you feel ok?

Mr. Glucose is the biggest Genesis Mining hater who used to have few houndred bucks worth of contract years ago when mt gox happened.

Do yourself a favor and just ignore him or find his topic to check out what he is writing.
Topic is called "Scam alert : Do NOT INVEST in Genesis Mining" and he locked it today so probably now he will spam over here.


Best Regards, Marcin

 Cheesy

Get a HUGE 3% discount with promo code: MOON @ Genesis Mining
https://www.genesis-mining.com
gopnik
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November 26, 2017, 04:03:10 PM
 #4854

This whole cloud mining contracts business is a huge fraud; these businesses conduct deceptive business practices, and are in violation with the SEC Section 2(a)(1) [15 U.S.C. §77b(1)] of the Securities Act in the US and the european securities and markets authority. They do not disclose the financial risk to their clients and are in violation with countless regulations.
I am confident an audit would show a ponzi scheme business model. These companies are going to cope with huge law suits. It is just a matter of time before the crack down

Realize that by purchasing mining contracts, you are actually not renting miners but purchasing unregulated securities in an offshore dividends generating company, without the rights attached to regular stock. In short, you own nothing
Think about it, why would a mining company rent their existing rigs if mining is such a profitable investment?
They dont. Your money allows them to expand, market their securities and increase their operational margins. Their profit is therefore the spread between the company mining profits and the investors dividends. Genesis mining sells stocks out of thin air

These mining companies are highly opaque entities; they do not deliver audited quartely and annual returns, there are no meeting of shareholders with the board of directors, they are not regulated by any financial authorities, which is a huge risk for investors as they can easily rig the market in total impunity and take inconsiderate risks with your money. There is therefore no empirical evidence that this whole cloud mining contracts isn’t a ponzi scheme only supported  by a continuous growing flow of investors money and skyrocketing cryptoccurencies prices.
You should ask yourself what would happen to these companies if the cryptocurrencies prices crash; they will likely disappear with your money.

On top of that extreme risk, your securities are highly illiquid and would be worthless in case of a market crash. This combination of undesirable factors must command a very high return to compensate the risk; I am not a probabilistic risk assessment expert, but huge profits would be required to make any sense to an investment professional

I also see a lot of confusion among the comments about how to calculate the actual profitability of the mining contracts
My understanding is that to determine if mining is a sound investment, you should only calculate your ROI based on the inflation adjusted crypto currency return, and certainly not based on the exchange rate.
Think about it, today, bitcoin inflation rate is about 4%, which means that about $14,918,220 worth of bitcoin is created per day by ALL miners around the world; that's $179,018,640 per year which is nothing given the ever increasing pool of miners.

The question should be, if i invest 1BTC in mining operation today, how many BTC will i have in one year (minus the 4% inflation)?
Now, i would be highly interested in seeing the real world numbers;  what is the actual difference bewteen holding bitcoin for 1 year vs 1 year of bitcoin mining contract regardless of the exchange rate, and all fees included from end to end


I must say you wrote a lot :-)

Unfortunately you don't understand how mining works which is a big gap when it comes to BTC.
Moreover you definately did not see contracts becuase if you did you would wrote it completely different.


Do you homework and come back with full knowledge.


Best Regards, Marcin


with all due respect, your post is worthless without proper counter argument

I read the technicalities and legal details and these are fraudulous securities disguised as cloud computing lease contracts



FYI Just one story in an ocean of similar affairs;
These ones got busted because they were based i the US; but companies like Genesis are offshore and can do what the fuck they want with your money


The Securities and Exchange Commission today charged two Bitcoin mining companies and their founder with conducting a Ponzi scheme that used the lure of quick riches from virtual currency to defraud investors.

According to the SEC’s complaint filed in federal court in Connecticut, “mining” for Bitcoin or other virtual currencies means applying computer power to try to solve complex equations that verify a group of transactions in that virtual currency.  The first computer or collection of computers to solve an equation is awarded new units of that virtual currency.

The SEC alleges that Homero Joshua Garza perpetrated the fraud through his Connecticut-based companies GAW Miners and ZenMiner by purporting to offer shares of a digital Bitcoin mining operation.  In reality, GAW Miners and ZenMiner did not own enough computing power for the mining it promised to conduct, so most investors paid for a share of computing power that never existed.  Returns paid to some investors came from proceeds generated from sales to other investors.

“As alleged in our complaint, Garza and his companies cloaked their scheme in technological sophistication and jargon, but the fraud was simple at its core: they sold what they did not own, misrepresented what they were selling, and robbed one investor to pay another,” said Paul G. Levenson




Zeta0S
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November 26, 2017, 04:20:04 PM
 #4855

This whole cloud mining contracts business is a huge fraud; these businesses conduct deceptive business practices, and are in violation with the SEC Section 2(a)(1) [15 U.S.C. §77b(1)] of the Securities Act in the US and the european securities and markets authority. They do not disclose the financial risk to their clients and are in violation with countless regulations.
I am confident an audit would show a ponzi scheme business model. These companies are going to cope with huge law suits. It is just a matter of time before the crack down

Realize that by purchasing mining contracts, you are actually not renting miners but purchasing unregulated securities in an offshore dividends generating company, without the rights attached to regular stock. In short, you own nothing
Think about it, why would a mining company rent their existing rigs if mining is such a profitable investment?
They dont. Your money allows them to expand, market their securities and increase their operational margins. Their profit is therefore the spread between the company mining profits and the investors dividends. Genesis mining sells stocks out of thin air

These mining companies are highly opaque entities; they do not deliver audited quartely and annual returns, there are no meeting of shareholders with the board of directors, they are not regulated by any financial authorities, which is a huge risk for investors as they can easily rig the market in total impunity and take inconsiderate risks with your money. There is therefore no empirical evidence that this whole cloud mining contracts isn’t a ponzi scheme only supported  by a continuous growing flow of investors money and skyrocketing cryptoccurencies prices.
You should ask yourself what would happen to these companies if the cryptocurrencies prices crash; they will likely disappear with your money.

On top of that extreme risk, your securities are highly illiquid and would be worthless in case of a market crash. This combination of undesirable factors must command a very high return to compensate the risk; I am not a probabilistic risk assessment expert, but huge profits would be required to make any sense to an investment professional

I also see a lot of confusion among the comments about how to calculate the actual profitability of the mining contracts
My understanding is that to determine if mining is a sound investment, you should only calculate your ROI based on the inflation adjusted crypto currency return, and certainly not based on the exchange rate.
Think about it, today, bitcoin inflation rate is about 4%, which means that about $14,918,220 worth of bitcoin is created per day by ALL miners around the world; that's $179,018,640 per year which is nothing given the ever increasing pool of miners.

The question should be, if i invest 1BTC in mining operation today, how many BTC will i have in one year (minus the 4% inflation)?
Now, i would be highly interested in seeing the real world numbers;  what is the actual difference bewteen holding bitcoin for 1 year vs 1 year of bitcoin mining contract regardless of the exchange rate, and all fees included from end to end


I must say you wrote a lot :-)

Unfortunately you don't understand how mining works which is a big gap when it comes to BTC.
Moreover you definately did not see contracts becuase if you did you would wrote it completely different.


Do you homework and come back with full knowledge.


Best Regards, Marcin


with all due respect, your post is worthless without proper counter argument

I read the technicalities and legal details and these are fraudulous securities disguised as cloud computing lease contracts



FYI Just one story in an ocean of similar affairs;
These ones got busted because they were based i the US; but companies like Genesis are offshore and can do what the fuck they want with your money


The Securities and Exchange Commission today charged two Bitcoin mining companies and their founder with conducting a Ponzi scheme that used the lure of quick riches from virtual currency to defraud investors.

According to the SEC’s complaint filed in federal court in Connecticut, “mining” for Bitcoin or other virtual currencies means applying computer power to try to solve complex equations that verify a group of transactions in that virtual currency.  The first computer or collection of computers to solve an equation is awarded new units of that virtual currency.

The SEC alleges that Homero Joshua Garza perpetrated the fraud through his Connecticut-based companies GAW Miners and ZenMiner by purporting to offer shares of a digital Bitcoin mining operation.  In reality, GAW Miners and ZenMiner did not own enough computing power for the mining it promised to conduct, so most investors paid for a share of computing power that never existed.  Returns paid to some investors came from proceeds generated from sales to other investors.

“As alleged in our complaint, Garza and his companies cloaked their scheme in technological sophistication and jargon, but the fraud was simple at its core: they sold what they did not own, misrepresented what they were selling, and robbed one investor to pay another,” said Paul G. Levenson

Joshua Garza did not have a real mining farm.
Genesis Mining has real miners I have seen them whit my own eyes and touch our miners mining fresh new coins.

Get a HUGE 3% discount with promo code: MOON @ Genesis Mining
https://www.genesis-mining.com
brobbel
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November 26, 2017, 04:46:48 PM
 #4856

Joshua Garza did not have a real mining farm.
Genesis Mining has real miners I have seen them whit my own eyes and touch our miners mining fresh new coins.


Unfortunately they don't have a technical support staff because otherwise my tickets were solved. Their customer service is non-existent when it comes to handling problems.
mptak123
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November 26, 2017, 06:03:58 PM
 #4857

This whole cloud mining contracts business is a huge fraud; these businesses conduct deceptive business practices, and are in violation with the SEC Section 2(a)(1) [15 U.S.C. §77b(1)] of the Securities Act in the US and the european securities and markets authority. They do not disclose the financial risk to their clients and are in violation with countless regulations.
I am confident an audit would show a ponzi scheme business model. These companies are going to cope with huge law suits. It is just a matter of time before the crack down

Realize that by purchasing mining contracts, you are actually not renting miners but purchasing unregulated securities in an offshore dividends generating company, without the rights attached to regular stock. In short, you own nothing
Think about it, why would a mining company rent their existing rigs if mining is such a profitable investment?
They dont. Your money allows them to expand, market their securities and increase their operational margins. Their profit is therefore the spread between the company mining profits and the investors dividends. Genesis mining sells stocks out of thin air

These mining companies are highly opaque entities; they do not deliver audited quartely and annual returns, there are no meeting of shareholders with the board of directors, they are not regulated by any financial authorities, which is a huge risk for investors as they can easily rig the market in total impunity and take inconsiderate risks with your money. There is therefore no empirical evidence that this whole cloud mining contracts isn’t a ponzi scheme only supported  by a continuous growing flow of investors money and skyrocketing cryptoccurencies prices.
You should ask yourself what would happen to these companies if the cryptocurrencies prices crash; they will likely disappear with your money.

On top of that extreme risk, your securities are highly illiquid and would be worthless in case of a market crash. This combination of undesirable factors must command a very high return to compensate the risk; I am not a probabilistic risk assessment expert, but huge profits would be required to make any sense to an investment professional

I also see a lot of confusion among the comments about how to calculate the actual profitability of the mining contracts
My understanding is that to determine if mining is a sound investment, you should only calculate your ROI based on the inflation adjusted crypto currency return, and certainly not based on the exchange rate.
Think about it, today, bitcoin inflation rate is about 4%, which means that about $14,918,220 worth of bitcoin is created per day by ALL miners around the world; that's $179,018,640 per year which is nothing given the ever increasing pool of miners.

The question should be, if i invest 1BTC in mining operation today, how many BTC will i have in one year (minus the 4% inflation)?
Now, i would be highly interested in seeing the real world numbers;  what is the actual difference bewteen holding bitcoin for 1 year vs 1 year of bitcoin mining contract regardless of the exchange rate, and all fees included from end to end


I must say you wrote a lot :-)

Unfortunately you don't understand how mining works which is a big gap when it comes to BTC.
Moreover you definately did not see contracts becuase if you did you would wrote it completely different.


Do you homework and come back with full knowledge.


Best Regards, Marcin


with all due respect, your post is worthless without proper counter argument

I read the technicalities and legal details and these are fraudulous securities disguised as cloud computing lease contracts



FYI Just one story in an ocean of similar affairs;
These ones got busted because they were based i the US; but companies like Genesis are offshore and can do what the fuck they want with your money


The Securities and Exchange Commission today charged two Bitcoin mining companies and their founder with conducting a Ponzi scheme that used the lure of quick riches from virtual currency to defraud investors.

According to the SEC’s complaint filed in federal court in Connecticut, “mining” for Bitcoin or other virtual currencies means applying computer power to try to solve complex equations that verify a group of transactions in that virtual currency.  The first computer or collection of computers to solve an equation is awarded new units of that virtual currency.

The SEC alleges that Homero Joshua Garza perpetrated the fraud through his Connecticut-based companies GAW Miners and ZenMiner by purporting to offer shares of a digital Bitcoin mining operation.  In reality, GAW Miners and ZenMiner did not own enough computing power for the mining it promised to conduct, so most investors paid for a share of computing power that never existed.  Returns paid to some investors came from proceeds generated from sales to other investors.

“As alleged in our complaint, Garza and his companies cloaked their scheme in technological sophistication and jargon, but the fraud was simple at its core: they sold what they did not own, misrepresented what they were selling, and robbed one investor to pay another,” said Paul G. Levenson

Hi again


All due respect I will not waste my time explaining to you how mining works because it is not the topic here and there is a lot of info over the network.
As I said do your research because Uncle Sam is not good example. I don't want to go into polictics but US is not a role model for sure.

"According to the SEC’s complaint filed in federal court in Connecticut, “mining” for Bitcoin or other virtual currencies means applying computer power to try to solve complex equations that verify a group of transactions in that virtual currency.  The first computer or collection of computers to solve an equation is awarded new units of that virtual currency. "

Equal comparison would be:
Milk is coming from a cow which is true but it is a tip of iceberg.


Talking about some tiny companies which almost no one knows is pointless.
By the way is Nvidia responsible for other unsuccesful startups in same segment? Of course not so don't make Genesis Mining a scapegoat.


"In reality, GAW Miners and ZenMiner did not own enough computing power for the mining it promised to conduct"
Again equal comparison would be that Nvidia is a ponzi scheme because they charge money for products they don't have in stock yet.
Also all presales would be ponzi schemes.


Please stop spreading a FUD unless you actually have somethig to say about Genesis Mining because this is the topic here.


Best Regards, Marcin








Exclusive Genesis Mining 3% offer avaiable with this code uQtLeP
mptak123
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November 26, 2017, 06:34:23 PM
 #4858

This whole cloud mining contracts business is a huge fraud; these businesses conduct deceptive business practices, and are in violation with the SEC Section 2(a)(1) [15 U.S.C. §77b(1)] of the Securities Act in the US and the european securities and markets authority. They do not disclose the financial risk to their clients and are in violation with countless regulations.
I am confident an audit would show a ponzi scheme business model. These companies are going to cope with huge law suits. It is just a matter of time before the crack down

Realize that by purchasing mining contracts, you are actually not renting miners but purchasing unregulated securities in an offshore dividends generating company, without the rights attached to regular stock. In short, you own nothing
Think about it, why would a mining company rent their existing rigs if mining is such a profitable investment?
They dont. Your money allows them to expand, market their securities and increase their operational margins. Their profit is therefore the spread between the company mining profits and the investors dividends. Genesis mining sells stocks out of thin air

These mining companies are highly opaque entities; they do not deliver audited quartely and annual returns, there are no meeting of shareholders with the board of directors, they are not regulated by any financial authorities, which is a huge risk for investors as they can easily rig the market in total impunity and take inconsiderate risks with your money. There is therefore no empirical evidence that this whole cloud mining contracts isn’t a ponzi scheme only supported  by a continuous growing flow of investors money and skyrocketing cryptoccurencies prices.
You should ask yourself what would happen to these companies if the cryptocurrencies prices crash; they will likely disappear with your money.

On top of that extreme risk, your securities are highly illiquid and would be worthless in case of a market crash. This combination of undesirable factors must command a very high return to compensate the risk; I am not a probabilistic risk assessment expert, but huge profits would be required to make any sense to an investment professional

I also see a lot of confusion among the comments about how to calculate the actual profitability of the mining contracts
My understanding is that to determine if mining is a sound investment, you should only calculate your ROI based on the inflation adjusted crypto currency return, and certainly not based on the exchange rate.
Think about it, today, bitcoin inflation rate is about 4%, which means that about $14,918,220 worth of bitcoin is created per day by ALL miners around the world; that's $179,018,640 per year which is nothing given the ever increasing pool of miners.

The question should be, if i invest 1BTC in mining operation today, how many BTC will i have in one year (minus the 4% inflation)?
Now, i would be highly interested in seeing the real world numbers;  what is the actual difference bewteen holding bitcoin for 1 year vs 1 year of bitcoin mining contract regardless of the exchange rate, and all fees included from end to end


I must say you wrote a lot :-)

Unfortunately you don't understand how mining works which is a big gap when it comes to BTC.
Moreover you definately did not see contracts becuase if you did you would wrote it completely different.


Do you homework and come back with full knowledge.


Best Regards, Marcin


with all due respect, your post is worthless without proper counter argument

I read the technicalities and legal details and these are fraudulous securities disguised as cloud computing lease contracts



FYI Just one story in an ocean of similar affairs;
These ones got busted because they were based i the US; but companies like Genesis are offshore and can do what the fuck they want with your money


The Securities and Exchange Commission today charged two Bitcoin mining companies and their founder with conducting a Ponzi scheme that used the lure of quick riches from virtual currency to defraud investors.

According to the SEC’s complaint filed in federal court in Connecticut, “mining” for Bitcoin or other virtual currencies means applying computer power to try to solve complex equations that verify a group of transactions in that virtual currency.  The first computer or collection of computers to solve an equation is awarded new units of that virtual currency.

The SEC alleges that Homero Joshua Garza perpetrated the fraud through his Connecticut-based companies GAW Miners and ZenMiner by purporting to offer shares of a digital Bitcoin mining operation.  In reality, GAW Miners and ZenMiner did not own enough computing power for the mining it promised to conduct, so most investors paid for a share of computing power that never existed.  Returns paid to some investors came from proceeds generated from sales to other investors.

“As alleged in our complaint, Garza and his companies cloaked their scheme in technological sophistication and jargon, but the fraud was simple at its core: they sold what they did not own, misrepresented what they were selling, and robbed one investor to pay another,” said Paul G. Levenson

Hi again


All due respect I will not waste my time explaining to you how mining works because it is not the topic here and there is a lot of info over the network.
As I said do your research because Uncle Sam is not good example. I don't want to go into polictics but US is not a role model for sure.

"According to the SEC’s complaint filed in federal court in Connecticut, “mining” for Bitcoin or other virtual currencies means applying computer power to try to solve complex equations that verify a group of transactions in that virtual currency.  The first computer or collection of computers to solve an equation is awarded new units of that virtual currency. "

Equal comparison would be:
Milk is coming from a cow which is true but it is a tip of iceberg.


Talking about some tiny companies which almost no one knows is pointless.
By the way is Nvidia responsible for other unsuccesful startups in same segment? Of course not so don't make Genesis Mining a scapegoat.


"In reality, GAW Miners and ZenMiner did not own enough computing power for the mining it promised to conduct"
Again equal comparison would be that Nvidia is a ponzi scheme because they charge money for products they don't have in stock yet.
Also all presales would be ponzi schemes.


Please stop spreading a FUD unless you actually have somethig to say about Genesis Mining because this is the topic here.


Best Regards, Marcin


I forgot about one thing.

If you "read the technicalities and legal details and these are fraudulous securities disguised as cloud computing lease contracts" then you should know what is the cost of upkeep per 1 GH/s in SHA-256 and how long it will take before GM will shut down the contract if mining won't be profitable anymore.

Please enlighten us :-)

Exclusive Genesis Mining 3% offer avaiable with this code uQtLeP
Zeta0S
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November 26, 2017, 08:23:24 PM
 #4859

Joshua Garza did not have a real mining farm.
Genesis Mining has real miners I have seen them whit my own eyes and touch our miners mining fresh new coins.


Unfortunately they don't have a technical support staff because otherwise my tickets were solved. Their customer service is non-existent when it comes to handling problems.
Delay in your service ticket That`s a other discussion. You just suggest Genesis Mining being a ponzi scam.

Get a HUGE 3% discount with promo code: MOON @ Genesis Mining
https://www.genesis-mining.com
gopnik
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November 26, 2017, 10:58:43 PM
 #4860

This whole cloud mining contracts business is a huge fraud; these businesses conduct deceptive business practices, and are in violation with the SEC Section 2(a)(1) [15 U.S.C. §77b(1)] of the Securities Act in the US and the european securities and markets authority. They do not disclose the financial risk to their clients and are in violation with countless regulations.
I am confident an audit would show a ponzi scheme business model. These companies are going to cope with huge law suits. It is just a matter of time before the crack down

Realize that by purchasing mining contracts, you are actually not renting miners but purchasing unregulated securities in an offshore dividends generating company, without the rights attached to regular stock. In short, you own nothing
Think about it, why would a mining company rent their existing rigs if mining is such a profitable investment?
They dont. Your money allows them to expand, market their securities and increase their operational margins. Their profit is therefore the spread between the company mining profits and the investors dividends. Genesis mining sells stocks out of thin air

These mining companies are highly opaque entities; they do not deliver audited quartely and annual returns, there are no meeting of shareholders with the board of directors, they are not regulated by any financial authorities, which is a huge risk for investors as they can easily rig the market in total impunity and take inconsiderate risks with your money. There is therefore no empirical evidence that this whole cloud mining contracts isn’t a ponzi scheme only supported  by a continuous growing flow of investors money and skyrocketing cryptoccurencies prices.
You should ask yourself what would happen to these companies if the cryptocurrencies prices crash; they will likely disappear with your money.

On top of that extreme risk, your securities are highly illiquid and would be worthless in case of a market crash. This combination of undesirable factors must command a very high return to compensate the risk; I am not a probabilistic risk assessment expert, but huge profits would be required to make any sense to an investment professional

I also see a lot of confusion among the comments about how to calculate the actual profitability of the mining contracts
My understanding is that to determine if mining is a sound investment, you should only calculate your ROI based on the inflation adjusted crypto currency return, and certainly not based on the exchange rate.
Think about it, today, bitcoin inflation rate is about 4%, which means that about $14,918,220 worth of bitcoin is created per day by ALL miners around the world; that's $179,018,640 per year which is nothing given the ever increasing pool of miners.

The question should be, if i invest 1BTC in mining operation today, how many BTC will i have in one year (minus the 4% inflation)?
Now, i would be highly interested in seeing the real world numbers;  what is the actual difference bewteen holding bitcoin for 1 year vs 1 year of bitcoin mining contract regardless of the exchange rate, and all fees included from end to end


I must say you wrote a lot :-)

Unfortunately you don't understand how mining works which is a big gap when it comes to BTC.
Moreover you definately did not see contracts becuase if you did you would wrote it completely different.


Do you homework and come back with full knowledge.


Best Regards, Marcin


with all due respect, your post is worthless without proper counter argument

I read the technicalities and legal details and these are fraudulous securities disguised as cloud computing lease contracts



FYI Just one story in an ocean of similar affairs;
These ones got busted because they were based i the US; but companies like Genesis are offshore and can do what the fuck they want with your money


The Securities and Exchange Commission today charged two Bitcoin mining companies and their founder with conducting a Ponzi scheme that used the lure of quick riches from virtual currency to defraud investors.

According to the SEC’s complaint filed in federal court in Connecticut, “mining” for Bitcoin or other virtual currencies means applying computer power to try to solve complex equations that verify a group of transactions in that virtual currency.  The first computer or collection of computers to solve an equation is awarded new units of that virtual currency.

The SEC alleges that Homero Joshua Garza perpetrated the fraud through his Connecticut-based companies GAW Miners and ZenMiner by purporting to offer shares of a digital Bitcoin mining operation.  In reality, GAW Miners and ZenMiner did not own enough computing power for the mining it promised to conduct, so most investors paid for a share of computing power that never existed.  Returns paid to some investors came from proceeds generated from sales to other investors.

“As alleged in our complaint, Garza and his companies cloaked their scheme in technological sophistication and jargon, but the fraud was simple at its core: they sold what they did not own, misrepresented what they were selling, and robbed one investor to pay another,” said Paul G. Levenson

Hi again


All due respect I will not waste my time explaining to you how mining works because it is not the topic here and there is a lot of info over the network.
As I said do your research because Uncle Sam is not good example. I don't want to go into polictics but US is not a role model for sure.

"According to the SEC’s complaint filed in federal court in Connecticut, “mining” for Bitcoin or other virtual currencies means applying computer power to try to solve complex equations that verify a group of transactions in that virtual currency.  The first computer or collection of computers to solve an equation is awarded new units of that virtual currency. "

Equal comparison would be:
Milk is coming from a cow which is true but it is a tip of iceberg.


Talking about some tiny companies which almost no one knows is pointless.
By the way is Nvidia responsible for other unsuccesful startups in same segment? Of course not so don't make Genesis Mining a scapegoat.


"In reality, GAW Miners and ZenMiner did not own enough computing power for the mining it promised to conduct"
Again equal comparison would be that Nvidia is a ponzi scheme because they charge money for products they don't have in stock yet.
Also all presales would be ponzi schemes.


Please stop spreading a FUD unless you actually have somethig to say about Genesis Mining because this is the topic here.


Best Regards, Marcin


I forgot about one thing.

If you "read the technicalities and legal details and these are fraudulous securities disguised as cloud computing lease contracts" then you should know what is the cost of upkeep per 1 GH/s in SHA-256 and how long it will take before GM will shut down the contract if mining won't be profitable anymore.

Please enlighten us :-)


The problem with naive people like you that are happy to be taken advantage of is that they indirectly sponsor the scams and encourage other people into taking the same inconsiderate risks

Again beside being arrogant, you do not prove shit about the legitimacy of this industry

On the other hand, i didn't say that Genesis and the other mining companies are necessarily scammers; i said there is no way to tell they aren't

So as long as they won't be able to demonstrate they are legit, by providing audited annual accounts and regulatory compliance; i'll assume they are indeed shady companies not worth my money

That they have warehouses with computers doesn't mean anything; their business could be 30% legit and 70% of their contracts could be based on nothing. Or maybe not
They could file bankrupcy tomorrow and disappear with your money without any recourse

Anyway, nobody gives about what you do with your money but don't pretend it is ok and cheerlead for this type of stupid investment





 
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