@rdyoung I generally steer clear of you since i find your posts abrasive but I have been watching and I believe you do good work with the color coin assets and other stuff i have seen you get into. I think its just a case of different personalities so while I respect you I tend to avoid you.
I will say it again, the way Genesis is doing things gives them the appearance of doing shady stuff.
they say you are buying a contract to Mine bitcoin, they disclose a Maintenance fee(although there is not enough info provided on this with your payouts to make any calculation on your own). If and I mean IF they are running some sort of payout formula then they should disclose that along with the Maintenance fee and how the formula is calculated. otherwise I am left to wonder what % of my 5TH daily payout is being withheld to pay me back on some other day. What happens when my contract runs out in a year do I get a large payment with any excess % that was withheld paid out?? do i get a bill for a negative balance on whatever this magical reserve is??? Without further information we are all left with nothing else to do but speculate.
I remember having these same discussions about hashlet payouts and magical monkey zen pools. I am not saying Genesis is a Ponzi scam. All I am saying is that the way they are doing this gives that appearance.
furthermore being a reseller of hardware does not give them legitimacy in my eyes. GAW was a reseller of Zeus, they paid well on hashlets, they claimed secret pools of magic payouts, showed orders for eleventythousand PH of Bitmains, pictures of miners, videos of spray painted datacenters and clearly mined for a short period at some point based on the power bills they did not pay.
At this point in Crypto mining this level of non-information is unacceptable. Until Genesis is willing to disclose what they are doing I personally am left with no choice but to consider my investment with them in the same category as the other Hyips and Ponzis I play with.
My Quote of the thread
“My, my, my, I’m once bitten, twice shy, baby” - White Snake.