I see genesis mining being praised by nearly every crypto youtuber I've found, and even here on steemit I see regular posts urging people to sign up with their code for the discount.
No, despite it not being a scam it's only really great if you get many many referrals to sign up with your code otherwise it's not that great. When someone signs up with your account code you get hashpower and other benefits.
For more details on the affiliate program check the link http://blog.genesis-mining.com/improved-affiliate-program.
The idea behind genesis mining is to leave the risk of a coin losing value to the user client. You essentially invest in the coin you're mining trough contracts hoping the value will remain the same or rise, the difference from just buying the coins is that you wait months to get the coins and hopefully get the profit HOPEFULLY, don't forget the site has to be around for a long time.
There's also the problem of the mining dificulty increasing overtime, which will result in less coins.
One particular youtuber, Boxmining, mentions genesis mining in almost all his videos in 2-3 minutes at the end of each video, this youtuber's channel has been growing greatly, you can check the stats for the channel on socialblade https://socialblade.com/youtube/c/boxmining.
With people new to crypto flooding in, these people hearing the great wonders of crypto from his videos will consequently look into getting some crypto, so he capitalizes on this the best he can with genesis mining, to maximize his profits he makes a lotery for people who upgrade in genesis with his code, obviously when someone upgrades with his code he gets hashpower and maybe other benefits.
Lottery:
So with genesis mining being advertised this hard you can only imagine the profits that can be made with genesis mining via referrals.
I'm not saying any of this is unethical or wrong, I'm just trying to explain why genesis mining is so advertised despise it not being all that great, in my opinion.
That will be all, peace out.
