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RE: Genesis Mining was a ponzi. So is BitConnect
Ask the fbi cyber crimes unit if 99% of hacks are inside jobs in the crypto space. Tell me why Genesis can't pay out even the new money to their customers from current mining? Explain to me how cloud mining and selling hashrate is not way less profitable than mining for yourself Why are all the scammers on youtube who only invested other peoples money through referrals already on to the next scams like control finance and bitconnect?
the exodus wallet @craig-grant shils for is not even open source.
Why they aren't paying out what they are currently mining because they do not want to re-saturate the payout wallets/payout system they were using before because of the hack. It's not just as simple as putting the currency in a wallet, they have thousands of people to pay.
Selling hash power is very profitable. For example the dash contract was around $4500 per 1 G/H of mining power. There are miners for sale for example: https://shop.bitmain.com/productDetail.htm?pid=00020170718203947438V537cuy7067F, which costs $2700 for 15gh of power. They could in tern sell this $2700 miner that they run at their facility for around $67,000 dollars. VERY profitable for them.
Control Finance and Bitconnect are HYIP which are totally different from Genesis mining. Look at the transaction history for genesis, it can be easily proved that they mine coins. I would agree with you that Control finance and Bitconnect are scams, but that does not mean you can't profit from them while they are running, very risky though.
Hopefully this has educated you.