With so much FUD, FOMO, and utter non-sense floating around concerning Genesis mining contracts, or the lack thereof, it is no wonder why people are flipping out and going right to the extreme, especially since the cost of Bitcoin is hovering around an astonishing $2500 USD per coin. Humans by nature are very emotional creatures. Our emotions drive every aspect of our lives, and sometimes they even makes us do dumb things with our money,"SHOCKER." And then add to the equations the fact that there are relatively few mining sites that are reputable enough to put money into and expect a decent ROI. This all adds up to a bottleneck of investors that are literally trying to throw money at Genesis just to get a piece of the pie.
I actually see this as a good thing. These are growing pains that only successful businesses get to experience because they are doing everything right. I mean just think about it for a second. Genesis has figured out a way to let everyone have access to an orchard full of low hanging fruit that is reasonably priced and provides a return that can go up in value while it just sits in your wallet looking pretty! Now, I'm sure some of you are thinking that with all this new attention that has been shined on to Bitcoin that this is only going to make the difficulty factor raise at a faster rate as more people begin to mine, and you would be right. This will make it go up substantially, but as the cost of Bitcoin continues to rise at a meteoric rate, I doubt that the difficulty level will be as huge as a factor as everyone thinks. The last reason I see this as a good thing is with the more people mining the more we can bring the scalability issue to the forefront and solve this problem once and for all. Waiting 12 to 24 hours for a transaction to confirm is a joke and unusable for a retail type business, so the new energy coming into Bitcoin may help solve this problem.
Lastly, I can only imagine that the team at Genesis was probably a little surprised at how fast they sold out of SHA-256, and it probably caught them off guard and left them a little behind the 8-ball on the implementation of new equipment for Bitcoin Mining. I can also imagine that knew that they were running out of SHA-256 and started the process of planning a new order of equipment some time ago, but like I said, the rate at which Bitcoin has grown seems to have caught everyone off guard. I, myself, was about to pull the trigger on a $1950 15TH/s order when the door slammed shut, so I feel everyone's frustration on this matter. The thing to remember is that Genesis Mining is basically running a business with a license to print money and cryptocurrency which is the best of both worlds, so there is really no question of whether Genesis Mining will bring back SHA-256. The only real question is will it be the same price when it does make a come back.
These are just my humble thoughts and opinions and not the gospel as I am still learning my way around this crazy crpto-world.
Jason
https://www.genesis-mining.com/a/696930
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