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RE: Measures For Active Spammers and Advertisers
Can't say for sure but you always have to ask yourself one question when it comes to cloud mining. If it were profitable why would they not just mine for themselves? Sure it might look like you make money because price goes up but you would have made that money just by buying and holding.
@zathras I don't think that's the right question to ask. It's almost like asking if landscaping is so profitable, why aren't equipment rental shops doing landscaping themselves? Perhaps the equipment rental shop has developed a profitable and repeatable business model to service a particular industry. The two things are mutually exclusive.
The finance world has constantly innovated secondary markets to offload risk and provide a discounted immediate return in exchange for shrinking the length of time for finacial instruments (annuities, bonds, installment agreements, structured settlements, etc.). In a sense, Genesis Mining (and other cloud mining services) are applying this idea and the concept of an equipment rental shop to create a hybrid business.
While I don't believe cloud mining is a scam, I don't think it's for everyone (like crypto speculation). Before going into cloud mining, a person needs to figure out if it's the right tool to achieve the results for the plan they have (if they have one). They need to educate themselves on the product and market as well, then decide to jump in (or not). Remember, crypto skeptics always point to Bitcoin and all other altcoins as Ponzi schemes.
So far, it has worked for me, but with everyone bombarding Steemit with get rich quick stories and affiliate codes, this place has taken on a tone of QVC or Amway. Personally, I find myself using the mute key an awful lot lately.
That's true! It would seem like a pooling of coins to give coins to others and maybe not truly renting and giving out minted coins. I guess I'm fine with genesis mining since the affiliate thing isn't a multi-level incentive with uplines / downlines.