Lol @diezeldiddy i'm glad bitconnect references were not lost. As much as it lost people money and cost the market it gave us something so much more valuable in its memes. I actually heard about it from a fellow steemian @techcoderx in this tech review and decided to dive down the rabbit hole and as i did some research I noticed no one put together a good summary so i thought might as well, glad you found it helpful and funny
From my research I think Genesis contracts are still fine they are still paying out regularly, I would also think that if they are smart they would use the news to drive a spike in contract sales and use that income to ensure they can grow and sustain their current user base. Perhaps cloud mining needed one to go down for the other to service the market need!
I don't see Genesis bellying up just yet but as difficulty continues to increase and rewards continue to half this business model at least for Bitcoin won't be sustainable for much longer