Not quite sure what is going on in this thread but some of the physics is wrong.
Assuming the material science problem is solved, and you were able to build a
rigid ring around the entire earth at GSO, that ring would be INCREDIBLY STABLE.
The force of gravity is an attractive force. Draw a circle representing the earth and draw a bunch of arrows around the earth pointing to the center.
Now draw a ring around the Earth that is outside the arrows. All of those arrows serve as a giant stablizing force, pulling along the ENTIRE circumference of the ring towards the center of the earth. That combined with the structure's rigidness would provide for a stable system.
Or put another way, think of a bicycle wheel with all those spokes radiating from the center. That is pretty much what you would have.
The mass of the ring structure (inertia) combined with the constant equidistant pull of the Earth's gravity on the rings, would combine to form an incredibly stable structure provided that structure is equidistance from the earth at all sides. Combined with a few stablizer thrusters and you have a stable self correcting system.
As for gravity. The force of gravity falls away at 1/r^2 so no, you wouldn't feel any gravity from the earth. But as mentioned above, you could simply spin the station.
Also. you don't need to be at GSO. Again, if you were able to build a rigid ring system, then you could bring it in much closer to the Earth. GSO is 42,000km away so that would be a HUGE ring. Much simpler to just bring it in closer to low Earth Orbit something like 3,000km which would be orders of magnitude smaller and use less materials!!!
lastly, as for spinning the station. That is a trivial matter. Objects in space whip around at fantastic velocities. Velocity in space is trivial. You simply accelerate the object and eventually the station will spin at the rate you want it to spin. I would guess that it would probably take around a month or so of nice slow acceleration for the ring to reach the desired velocity so that you'd have
gravity.
And as an aside, a ring system around the planet has a lot of benefits. You'd have virtually infinite power moving through the Earth's Magnetic field not to mention the benefit of space's vaccum for manufacturing (semiconductor and nanotechnology and anything else that uses a clean room). The vaccum of space is about a million times cleaner than the cleanest clean room on Earth. And i'm sure there would be countless other benefits.
p.s. all this works for a 'loose' ring system as well held together by cables. But a rigid system would be more stable IMO. ONly downside to a rigid system is that you generate stresses which would decrease the lifetime of the station. but, since this is the future, we'd have nanotechnology and fixing stress fractures (as well as monitoring the structure) would be trivial.