Business 27 November 2018Erik Gibbs
Genesis Mining team makes a desperate plea to miners
Genesis Mining, the cloud-based cryptocurrency mining service, is hoping a marketing gimmick will help it attract new subscribers. After running a Halloween special that offered as much as 25% in discounts on new package subscriptions, the company is at it again, hoping to capitalize on Black Friday and Cyber Monday. It has taken the campaign to a new level, however, and is offering a 25% discount on all contracts.
According to a notice that was send to current subscribers, Genesis wrote, “It is Cyber Monday and our Black Friday Week special is on the home straight. You have until midnight (CET) today to take advantage of our best Black Friday deal ever – a 25% discount on all our Hashpower including our NEW $50 TH/s 2-year Bitcoin mining contracts. So don’t hesitate any longer – go ahead and make your purchase! All you need to do is use the Promo Code ‘BlackFriday25’ during the purchase checkout process.”
Genesis has apparently needed to receive major cash injections to stay afloat. It recently emerged from a six-month cease-and-desist order in South Carolina and soon after announced changes to its subscription service in an effort to overcome a difficult year. It indicated that certain users would be obligated to upgrade to a five-year plan or face having their contracts suspended. In making its announcement, it gave the indication that it has not been able to produce the revenue that it had anticipated all year.
It has been a challenging year for many in the crypto industry, but some have weathered the storm better than others. 2019 is going to bring even more changes to the space and will be the year that truly identifies cryptocurrency’s potential. It’s for this reason that those blockchains that are not ready to scale will suffer greatly. The market slide has caused the waters to recede, exposing the vulnerabilities and models of those cryptocurrencies that do not provide any real utility.
Bitcoin SV is poised to be the one blockchain that can embrace the future and the growth explosion that is going to come. Those networks that are not prepared for scalability on a large level are going to be left behind and will ultimately find themselves in a position that forces them into dissolution.
Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.
Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.
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