Every time I publish a #SatoshisSaturday blog post, I issue the following disclaimer:
This article is not a "get rich quick" article. This refers to sites and strategies which I personally use. It is entirely possible that my actions and subscriptions could lead to financial loss. As such, constructive criticism and suggestions are always welcome.
This is not just me protecting myself or PUBLISH0X from the legal repercussions of others losing money by following my steps. One concept that was drilled into me at the beginning of my software testing career is this:
The sooner a defect is discovered, the quicker and cheaper it is to resolve a defect. A defect in a requirement can be addressed in minutes. A defect in production can have catastrophic costs to the company.
This truism applies to more than just software. Consider your sleeping quarters. Unless you're fortunate enough to have a maid service, you're responsible for cleaning your own sleeping quarters. Imagine how much more difficult and time-consuming that task would be if you performed it weekly (or worse -- monthly) instead of daily.
I'm at the early-ish phase of a problem with SAG Mining. I have options as to how to resolve it, but if I choose an incorrect option, fixing my mistakes will cost additional time and money. As such, I'd like to get it "right" the first time.
My interactions with SAG Mining were great when I initially joined. Their contracts returned a minimum of 2.2% daily interest. At the time, that meant that I'd pay them $5 in satoshis, and I'd get about $0.11 a day for a year, adding up to roughly $40.15 by the end of the contract. The minimums to invest and withdraw were low, reinvestment was easy, customer service was prompt and helpful, and withdrawals were relatively painless.
Then, the SAGCoin emerged.
At first, I didn't pay much notice to the emails and promotions. I wasn't interested in SAGCoin. There's only a handful of cryptocurrencies that I actively collect: Bitcoin, Ethereum, BAT, Sweatcoin, RX Coin, AWC, and Slidejoy Carats. (Though I intend to use HashShiny to add ZEC, DCR, DASH, and LTC to my crypto collection once I have my Bitcoin and Ethereum reinvestments rolling on a daily basis.)
My problems began when I tried to withdraw about $30 in BTC so I could buy some food and supplies. I got an error message indicating that I could not withdraw because I did not buy any SAGCoins. The error message indicated that the total deposit for SAGCoin had to be at least half of the total deposit for my BTC.
As of 2020-09-25, my total deposit -- both external and reinvestments -- for BTC is 3,232,900 satoshis. To withdraw any of my earnings, I would have to buy at least 1,620,000 satoshis worth of SAGCoin (1 SAGCoin costs 20,000 satoshis, and the minimum amount of SAGCoins to buy at a time is 10).
At first, I thought that would be no problem. I'm earning a bit more than $5 a day in satoshis, so instead of reinvesting in BTC, I'll just reinvest in SAGCoin. Problem solved, right?
Problem not solved. There's no option to reinvest in SAGCoin. That's deliberate. When I reached out to customer service, they informed me that only external deposits were allowed for SAGCoin.
That currently leaves me with no way to access my satoshis. And since I'd rather have food, water, and clean clothes than SAGCoin, I won't be able to get SAGCoin until mid-October at the very earliest.
In SAG Mining's defense:
- Their customer service is prompt and usually helpful... as long as I don't try using the chatbot.
- Until SAGCoin was a factor, withdrawals were simple.
- SAG makes BTC reinvestment simple.
However...
- Being forced to buy a product I don't want to access money for which I've paid makes me angry.
- Some of SAG Mining's new rules are outright totalitarian. For example, their rules state that this post alone is grounds for them to wipe out my entire account.
- Their help chatbot is worthless.
If I had joined SAG Mining a few weeks ago, this would be simple. But since this change happened before I confirmed their trustworthiness, it's not so simple. As such, I am considering four options:
OPTION 1: Cut my losses and walk away.
PROS:
- This will give me at least two weeks to decide on a replacement mining site.
- I can flag their future advertisement emails as spam and delete them sight-unseen.
- I won't have to worry about buying a cryptocurrency in which I'm not interested.
- I won't have to worry about future rule-changes.
CONS:
- I forfeit all of the money I've invested -- both USD and BTC -- as well as the satoshis from the contracts I bought.
- If SAGCoin does well, I'll miss out on an opportunity to expand my wealth.
OPTION 2: Suspend my BTC reinvestments and buy SAGCoin
PROS:
- If one SAGCoin is worth 20,000 satoshis after I buy SAGCoins, I'll break even if/when I exchange them.
- If one SAGCoin is worth more than 20,000 satoshis after I buy SAGCoins, I'll make a profit if/when I exchange them.
- SAG Mining guarantees unlimited withdrawals once I establish the 2:1 ratio of BTC deposit to SAGCoin deposit.
CONS:
- If one SAGCoin is worth less than 20,000 satoshis after I buy SAGCoins, I'll lose money if/when I dump them.
- I'll need to manually maintain the 2:1 ratio of BTC deposit to SAGCoin deposit with external deposits. This is mathematically possible (especially if I can withdraw, then redeposit my funds), but it will be a hassle at least.
- SAG Mining's rules indicate that they can cancel my account at will.
OPTION 3: Ignore SAGCoin, keep reinvesting BTC, and wait for the SAGCoin madness to subside
PROS:
- If SAGCoin fails, I am unaffected.
- If SAG Mining changes its rules to be less restrictive, I'll have access to my satoshis.
- Reinvesting 4 times a month is simpler than the 2:1 ratio juggling act.
CONS:
- If SAGCoin succeeds:
- I'll have missed out on a profitable opportunity.
- The rules will not change, and I will end up with an even higher amount of SAGCoins I will have to buy if I want my satoshis.
- SAG Mining's rules indicate that they can cancel my account at will.
OPTION 4: Eat more greek yogurt.
PROS:
- Greek yogurt promotes oral health, bone health, and digestive health.
- I enjoy eating vanilla greek yogurt and strawberry greek yogurt.
CONS:
- Eating greek yogurt will do literally nothing to help with my SAG Mining dilemma.
I'm hoping that one of my followers has either extensive cryptocurrency knowledge or prior experience with SAG Mining. Either trait would be valuable right now.
What would you do if you were in my position? And if you use alternate cloud mining services, please feel free to share the links in the comments. At the very least, I'm looking for one more to replace the Tesla Mining scammers.
