Quote from: crazyivan on June 16, 2016, 04:46:58 AM

Quote from: lechatelier on June 16, 2016, 12:27:23 AM

Quote from: JessicaG on June 16, 2016, 12:03:10 AM

Quote from: lechatelier on June 15, 2016, 11:24:54 AM

What evidence do you have to back up that claim? I'd honestly be interested in your evidence since I was thinking about investing more in hashflare than I already have. Please elaborate.

FYI, I'm not saying that they DO mine, I'm saying I don't really know. I'm very new to the scene and when I was getting informed about "legit" cloud mining services, Genesis Mining and Hashflare seemed to be the ones to choose. But I'm curious to hear how you can prove that hashflare doesn't mine.

BTW: I asked support about the whole pool distribution thing and they pretty much gave me the same information: "At the moment the best way to distribute your SHA-256 hashrate between pools is 50/50 between BTCchina and AntPool."

Simple:

Purchase some SHA256 hash. Point it 100% towards Antpool. Compare 'daily results' against https://www.antpool.com/poolStats.htm

I honestly don't know what to compare my daily results to on this website. I wasn't able to find a number on how many coins they were mining per TH/s per day. Could you get into more detail?

Let's assume you are correct, though, and hashflare isn't doing any mining of its own. Is there a legit mining service that you know of? What is your opinion on Genesis Mining? Are they legit or are all cloud mining services a ponzi scheme?

Thanks for your help!

Genesis Mining is legit 100%. However, they re also not profitable. All you ll do if u decide to invest into Genesis is to help them make more money and build more of their farms.

Ok, so here is the crazy idea I had to why it wouldn't be a bad idea to "fund" GM's farm constructions.

Lets say they acquire enough funds to scale their farms enough to carry 51% of the global hashing power (practically impossible but stay with me), then you will own a stake in the largest bank/currency transporter of BTC in the world. Would the centralization of the hashing power hurt or improve the ROI of your investment? I would probably guess improve.