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What’s going on with PowerHouse Network?

Powerhouse has ceased mining contracts. Which sounds like badness but they are instead pushing their coin and then using the money to purchase more mining equipment for their own farm.

Turns out that they were using Hashflare who ran into problems (WHY?), instead of running their own thing. So my $30 investment is now on a forced investment into their coin Polaris. This has caused a bit of frustration with some users, and exactly so. If you buy one car, drive it for a while and are happy with it then you get up in the morning and find the dealer has swapped your car for something different you might not be so happy.

I still think Powerhouse is a genuine operation, I think though, that they should have got some advice (from me?!) on working in the Cryptocurrency space. The LAST thing I would have done is got mining “contracts” with Hashflare. If I’d have known that I would have told Darren to go with Genesis Mining. I had falsely assumed they had all their own mining gear and were not subcontracting from another mining firm.

So my $30 investment is actually doing pretty well. I just can’t do anything with it right now. But Darren and the team’s transparency for me gives me some security. The fact Darren is in the UK means he is liable to UK laws and trading standards etc.

I do think Polaris will do well but I think Darren and his team have to settle down and do one or two things well rather than inventing new Matrices and juggling things. They also BADLY need a graphic designer. But that doesn’t mean what they are doing is bad. I mean, how many scam sites look incredible but turn out to be awful.

Click Here to Visit the Powerhouse site. Remember, only invest what you can afford to lose!

 

 

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