My attitude is that although the money making with Genesis and Splititmining is slow it's not a problem as it's not costing me any more money - I invest about £100 a month into 3 mining sites, splititmining actually I like the best because it auto reinvests building up your hash power.
RE: My first payment from Genesis arrived
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My first payment from Genesis arrived
Auto-reinvesting to build up hash power - the perfect Ponzi scheme!
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I have taken money out of it and it wasn't a problem, I don't see the difference between taking out the profits and then re-investing them to actually just leaving it in there to cook? Plus I have done extensive research and spoken to their support team who respond VERY quickly whatever time of day or night. All the scams I have uncovered and tested at www.ukbitcoinblog.com my blog don't have this.
I will add I spread my investments across different sites and have strict research and testing before putting anything larger than $10 into anything. I also have my own mining rig here at home working 24/7 so my risk is greatly reduced.
To be honest also I think that banks while we're at it that use fractional reserve banking are worse than a ponzi scheme. The fact the whole thing can crumble (and has a number of times) is just terrible, take Bearings bank taken down by one trader, or RBS that the Government here bailed out.
At least with Bitcoins and the blockchain it's not based on debt.
To be honest there's not much difference between this and compound interest. That's just re-investing the interest back into making more interest.
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