Bitcoin Forum

New main thread!
https://bitcointalk.org/index.php?topic=602022.0 (https://bitcointalk.org/index.php?topic=602022.0)


Dear all,

We are thrilled to announce the launch of the first scrypt cloud hashing service offering contracts on a large scale on

  http://genesis-mining.com

Our initial offer is a 1 year contract for 1 MH/s scrypt hashpower. We redirect the hashpower to you and maintain the rigs for you. Price depends on the amount of MH/s you wish to rent. Please take a glimpse at our website for more information. You will receive the hashpower within 24 hours after payment is received (no delays due-to setup, because mining equipment is already in place). Payments are possible in BTC as well as in Fiat.

During the start-up phase, rigs will mine via middlecoin.com (alternatively hashco dot ws) and you will receive daily payouts in Bitcoin. Going forward, you will be able to decide which Scrypt based coins you want to mine.

Rigs are in place and they are already mining. At the moment, we are adding further hashpower to the farm:
http://www.middlecoin.com/reports/1BtzFDErNKMMFeCSkho9tK7Cr8eus64x5K.html
A part of the farm is already rented. The amount of hashpower is limited!

This is a pre-order phase!

We are looking forward to hearing from you about your hashpower needs on: http://genesis-mining.com

Our plan is to go live on 19. Feb 2014!

Please drop us a line if you have any questions on:  contact@genesis-mining.com

Best regards,

Your Genesis Mining Team



*****  UPDATE *****

19. Feb 2014:  We went LIVE today!

Thanks to our existing and to our new clients!
We are thrilled to bring to you the best and most efficient scrypt mining power.

And to celebrate the event we reduced our prices significantly!
See for yourself and compare:

Silver contract: now available for 89$ cent per khash/s
Gold   contract: now available for 84$ cent per khash/s
Platin contract: now available for 79$ cent per khash/s


Please visit our website:

  http://www.genesis-mining.com/ (http://www.genesis-mining.com/)

for details and let us know what you think!

All existing and new clients were automatically upgraded to the new rates! More mining to you!

Happy Mining!

Your Genesis Mining Team

Is that serious? How do you get those cheap prices? If I build up a rig with say 3 x 280x gpus that have around 3 x 710 KHash/s = 2130 KHash/s I have to pay at least:

100$ Motherboard
3x 500$ 280X GPU
25$ Ram
3 x 30$ Riser Cables
230$ 1000 Watt PSU
----------
Total: 1945 $

 That would effectively be 1945/2130 $/(KHash/s) =  0.9131 $ /(KHash/s). The power consumption of this rig with 3x 280x would be 3*250 W + 100W = 850W (GPUS + Mobo). I live in germany and have to pay at least 25 $/KWh that would mean i would have to pay for this rigs electricity 0.25*0.85*24*31$ = 126.48 $ per month. Effectively this would be a total of 126.48/2130 $/(KHash/s) =0.05938 $/(KHash/s) per month which is nearly double the electricity cost of 0.04$ which you charge.
This would mean for my rig I would have to pay a total of 0.9131 + 12* 0.059 = 1.6211 $/(Khash/s) for one year mining. Compared to your contract that effectively costs 0.99+ 12* 0.04 = 1.47 $/(KHash/s) for one year mining! This is much cheaper plus I don't have to maintain the rig and worry about cooling and noise!

Are my number wrong or is that a pretty damn good offer?

Greetings,
b0n1

Hey b0n1,

Thanks for your question!

Your numbers look right, we did similar calculations on our own. Please note that our farm was designed from day 1 on with efficiency in mind, i.e., we selected GPU, PSU and other components in an cost / energy efficient way. We also reduced electricity costs to a minimum so that we can pay for rent, cooling, maintenance etc. and operate on a margin.

It helps if all team members are dedicated miners with years of experience :)

Have a nice day,
  Marco

(Genesis Mining)

Well, sure... but at the end of the year, you have a mining rig.  With them, at the end of a year of a contract... you have to buy the contract again.

Not that the prices are bad, but keep that in mind ;)

This is a good deal. And the team looks pretty impressive. Do we have any other pictures of people with more GPUs?

Thanks! We have added some pictures of our second mining farm. We hope you enjoy!

Hey Firebug24k,

Please check our updated prices again  ;D

Prices start at 79 USD/cent per khash/s!
Details at genesis-mining.com (http://genesis-mining.com).

Happy mining!

Dear users,

if your are interested in our service, but didn't want to sign up for a full paid account yet, we have the right thing for you:

As of now we're offering free testaccounts for everyone. Just contact us at contact@genesis-mining.com and we'll set you up.
The way it works, is that you can test our service for 5 days without any charges and completely risk free. We'll send you your mining results on a daily basis as a statistics overview. If you like what you see, you can sign up and we'll pay out what you've collected with your free account and following.

It's also covered in the new FAQ section at our website http://genesis-mining.com/faq.html
(see below)

Stay tuned, we have lots of exciting things planned for your mining future.

Happy mining!



*********** Genesis-Mining.com FAQ **************

WHAT IS GENESIS MINING?
Genesis Mining is an easy way to purchase scrypt hashpower without having to deal with the hardware (GPUs, PSU) and software configuration. We are a team of mining experts with vast knowledge in the sector specialized in building the most efficient mining rigs which you can rent. We also have experts for cooling and maintaining data centers.


HOW DOES THIS WORK?
It is very easy! As soon as we receive your payment your contract will be added to the database and you will immediately start mining. We guarantee that you will receive the first mining payout max. 24 hours after we have received your payment. No arbitrary delays!


IF IT IS PROFITABLE, THEN WHY ARE YOU NOT MINING YOURSELF?
Besides the fact that we do mine ourselves with the very same hardware that we offer to our clients, our capital is limited. Also while we believe that altcoin mining is highly profitable we do not want to put all our money in one basket.


WHERE IS YOUR MINING FARM LOCATED?
For security concerns we do not disclose the exact location of our mining farms. As of Feb 2014 we operate three farms, that are located in Europe, America and Asia. Electricity and availability of cooling are important (but not the only) criteria.


WHAT COINS DO YOU MINE?
As of Feb 2014 we use multi-pools that mine the most profitable altcoins and automatically convert them to Bitcoins. Multipools we use include: middlecoin and clevermining. Going forward we will allow our users to mine the type of coin they are interested in.


WHAT IS MY EXPECTED RETURN ON INVESTMENT?
CleverMining offers some statistics about the expected returns: http://clevermining.com/profits. According to that data almost all payouts in February were above 0.01 BTC per MH/s. For example, if you would invest as of Feb 1st $1,000 you would rent 1.12 Mhash/s according to our Silver Contract. Your effective daily payout would therefore be 0.01 BTC (electricity costs already deducted). This means you would already have 1 BTC after 100 days of mining!


OK, FINE! HOW CAN I PAY?
We currently accept payments in Bitcoin and via bank transfer. Going forward we will also accept credit card payments.


CAN I TEST YOUR SERVICE FREE OF CHARGE?
Yes, you can! Just let us know the contract amount you are interested in and your Bitcoin payout address. You can then watch your daily mining results grow for up to 7 days completely free of charge. If at any time during your trial period you decide to sign up, we will cash out your Bitcoin!


HOW CAN I REACH YOU IF I HAVE FURTHER QUESTIONS?
Customer support is our highest priority! We know how important it is for a potential investor to clear all his open questions to have a good feeling in the investment. Feel free to contact us any time! email: contact@genesis-mining.com

**** Meet us at the Texasbitcoin conference http://texasbitcoinconference.com/ on March 5th to 6th. ****


We'll be waiting for you at booth number 25.

https://bitcointalk.org/index.php?topic=363816.0;all


We're very much looking forward to this.
See you soon!


Genesis-Mining

Hey Marco! It was good talking to you and meeting you in person. And thanks for the cookie! :)

http://genesis-mining.com/ --- Fraud / Scam !

If Something is too Good to be True, it Probably is !!!!

They are the same guys as mammoth-mining.com !

Don`t use their services ! Why they don`t have any phone number contact ( if they have a large staff ) !? asked them for the phone numbers of the whole staff! you will receive nothing !

Why they take payments only through untraceable payment methods ?!  Because in this way they can hide and your money are gone forever !

If they are legit, I asked them to post here a picture of anyone from the staff in the room of the equipment with a paper in hand with the current date!

They sale money to us ! Why they don`t keep for them !

Please be careful and let`s make something to knock them down, so anyone can`t be scammed by them !

:))))) Good joke !! Wintermute everyone knows that you are the same persons with this scammers !!

Peppin, Thanks for your comments.


As the first big player in the market we expected to get feedback ranging from "bit too expensive"  to  "too good to be true".  We are happy to hear that you think that our offer is extremely good -- we fully agree!

* If clients would like to speak with us we are happy to arrange a call (also via skype). Just send us a message and we will arrange something.

* We sell our hashpower because (a) our capital is limited and (b) we do not want to put all our money in one basket (please see our FAQ). We mine ourselves with the very same hardware. The good thing is that altcoin communities benefit from our activity as more hashpower and attention is brought to the altcoin markets (it is good to see the "invisible hand" in action).

* We accept EUR and USD payments, however, we prefer payments in BTC or LTC for now. This is going to change over time as we grow our infrastructure.
* Please find some pictures attached below from our European location (we also have a location in the US and China)

* Our European pool on middlecoin is http://www.middlecoin.com/reports/1BtzFDErNKMMFeCSkho9tK7Cr8eus64x5K.html

We are not using this pool anymore as much as before. Our peak hashrate on the pool was 450 MH/s (we have way more hashpower available, but will not go into the details). To proof that we are in control of the above address we will send 0.01 BTC from this address to 1MjxcdMnR4Uc9ZMaHyMLDLEgcoCcAmMuBF within the next 24 hours after this posting on bitcointalk.

* We have recently been at the Texas Bitcoin Conference - cf. http://texasbitcoinconference.com/exhibitors ; please also have a look at the list of speakers. We will attend the conference in Amsterdam, as well. Anyone, please feel free to drop us a line and we arrange something.


Happy Mining everyone,
   Your Genesis Mining team

https://i.imgur.com/9t7a8Rv.jpg?1
https://i.imgur.com/6vJwSvx.jpg?1
https://i.imgur.com/UB1N7Ln.jpg?1

I have asked for a picture with someone from your staff with this paper in hand !! Not a photoshop picture :))

Ok. I agree with video conference on skype ! Please tell me the id where to contact you guys !
No one from your stuff don`t have any phone number! Send us a phone number to contact !

Why you don`t replied on this question from reddit.com ?

rywalker 1 point 7 days ago
I can't really find Marco Streng or Michael Cao on the internet anywhere — can you provide more links to prove that the people listed on the site are involved in the company, and are real people?

Dear Peppin,

Please have a look at our webpage http://genesis-mining.com (http://genesis-mining.com) - Marco Streng and Michael Cao have links to their linked.in profiles. Also kindly check the list of speakers at the Texas Bitcoin Conference http://texasbitcoinconference.com/speakers (http://texasbitcoinconference.com/speakers). We will very likely be at the Amsterdam Conference, as well, and would be happy to meet you  in person!

One of our partners will reach out to you so we can arrange a skype call.

The above announced transaction is now part of the blockchain:

https://blockchain.info/tx/39318046537272034be6ce414954a06766a8728c952f659b4eacac615ed4e6ee


Happy Mining everyone!
  Your Genesis Mining Team

You really make me laugh ! :) Let`s arrange the video skype call!
You gave me a phone number and you said you can be called at any time ! But you don`t answer. When you can answer if you are such a big company ? :)

No one from your stuff don`t have a facebook ? to see that they are real people, with friends, family !

You said for 100 times that you was at that conference ! Do you have any picture from there? It is impossible don`t have any picture from there !
Please put here a picture from the conference with you and staff.

Fuck off  scammers !!!

You will not steal our money with this kind of fraud :)

Your numbers are very correct only that their offer is imaginary. This is too good to be true. In this way they attract the naive people, with the idea to get rich with minimum effort.

Dear Peppin!

I am Jakov Dolic, salesmanager of Genesis Mining. I would appreciate if you call me on +49 171 279 33 59.

And please stop the calumny. You are writing things that are absolutely not true. Be aware that this is liable to prosecution.

Best regards,
Jakov Dolic

We don't only have pictures. There are videos, too. It was a great event!

The first picture is a picture of our booth at the conference.
The other images show our CEO Marco Streng at the conference between Daniel Krawisz, founder of the Satoshi Nakamoto Institute and Luke-JR the lead developer of Bfgminer.

All videofiles of the panel discussion are linked at http://www.texasbitcoinconference.com

https://i.imgur.com/BhBEe4pl.jpg

https://i.imgur.com/vXb0YJdl.png

https://i.imgur.com/IJqHBVJl.png

I can`t believe !! Where is your stuff ?!:)) an empty picture again, in photoshop.

I have contacted MARCO STRENG on FACEBOOK and he said he don`t know anything about your company !! You used his identity fake.

Again why you don`t answer my calls!? I called for 10 times !!!

Hey Peppin,

you know you already talked more than once with us on the phone. It is very obvious to all of us that you are trying to discredit us and for your information it is not working.
We are getting a huge amount of response from customers and people who are interested in our service all around the world - and the reason is simply because our prices are unbeaten and our service is reliable.

Anyone who wants to get in contact with us, be it phone, email, skype or face to face on the next conference is welcome to do so. Good customer relations is very very important to us.
The next upcoming conference will be the Coinference in Amsterdam, starting on March 18th. (Peppin I dare you to come and shake our hands. Regardless, of your poor efforts to discredit us).

We are sending happy greetings to everyone and of course that includes you too, Peppin.

Genesis-Mining
https://twitter.com/GenesisMining

Discredit you scammers ? lol

You are a big liar ! Here is the proof i never talked with them ! They keep delay me ! Again why MARCO STRENG don`t know anything about you?


https://i.imgur.com/jSLVWki.jpg

https://i.imgur.com/3sOOevz.jpg

Come on now Peppin. All we need is a few photos and video to invest thousands of our hard earned $$.

So how do I sign up? Email?

Based on the pictures, it looks like they're running Gigabyte R9 270s.  They've been as low as $189.99 in the States in recent history.  They can run up to 500 KH.

Riser cables are around $5 if ordered in bulk from China. (http://www.dhgate.com/product/1x-to-16x-pci-e-extension-cable-with-powered/182319119.html#s1-4-1|4196888224).

It looks like they're running dual power supplies on each machine, probably around $90 each on sale (looks like there might be a Coolermaster V650?).

$100 Motherboard (one looks like a Gigabyte GA-Z77-D3H)
5x$190 Gigabyte R9 270  (Assuming they grabbed them on sale)
$25 RAM
5x$5 Riser Cables
2x$90 Power Supply
~$20 maybe in extras (dual power supply cable, 16x risers, USB stick)
-----------
Total: $1300 for ~2.5 MH

Hello @all,

a lot has happened in the past few weeks.

After the Texasbitcoinconference we attended and sponsored the Amsterdam Coinference http://bitcoinference.com/ and the event was amazing!

Lots of interesting talks, great conversations during the coinference and at the afterparty. We really enjoyed our time hanging out with such a an awesome bunch of people there. If anyone who attended is reading this, I would love to hear your commments.

About that: the lucky winners of our Silver and Gold Plans are beeing announced on our twitter feed  https://twitter.com/GenesisMining during the day.

In the meantime... our team of eager-busy-zealously day and night working coders have programmed something that a lot of you have asked for and may we say that we are little bit proud of it?

 :)

Soon, all our users will be able to allocate their haspower to their own needs.


A picture says way more


Let us know what you think!

Cheers,
Stefan
(Genesis-Mining)


https://i.imgur.com/EoiQIXh.jpg

https://i.imgur.com/onjOxPb.jpg

Hi  Genesis-Mining,

Can you give me more transparency? I just need to feel like I know you guys.

Marco Streng (CEO) has said he is from LMU Munich and that he majored in math and physics. But I can't seem to find anything related to him in LMU. His Facebook profile doesn't have any friends.

Dr. Marco Krohn (CFO) seems like he is still working for Hypovereinsbank owned by UniCredit.

Jakov Dolic (Sales) seems like he is still working for a plastering company named Dolic which accepts Bitcoin.

Jana Eichhorn, can't find anything relevant about her.

The company GENESIS MINING LTD. was only registered recently in Bermuda on 11th April 2014 with the registration number 48978.

Is the above information correct? I apologize for my skepticism.

Can you name a country in which you have your mining rigs? Who is managing those?

How did the prices drop from ~80 cent to ~30 cent per kilohash/s ahead of the release of the ~30 cent per kilohash/s scrypt mining ASIC release from KnC Miner?

Hi edwinhere,

thank you for your interest and the effort you made to collect all the information.

The information you collected is correct.
The company date of 11th April is as new as there has been a change in the company structure, before that we have been represented in Hannover, Germany.

Our mining rigs are in the US, Eastern Europe and China. Unfortunately we cannot disclose more detailed locations.
They are managed by local employed technicians and ourselves.

You have a good point regarding the price drop.
We always optimize our locations and setup, for best performance and lowest price. The main reason is the recent upcome of ASIC to the scrypt market, which we can run way more power efficient with less support needs than a GPU rig. We pass these savings to our customers with our heavily dropped prices.


Cheers
Jan
(Genesis-Mining)

If it talks like a duck and walks like a duck...

If you like to, meet us at the Amsterdam Bitcoin conference next week!

We're happy to meet you and answer all questions in person

I thought I'd give these guys a go ... so I signed up for an account, that seemed to work okay ...
I decided to try for a start the lowest value contract ... USD$360 ...
Not the end of the world if this is a scam...

My bank says their SWIFT code is wrong...
My bank has a SWIFT code look-up facility ...
It cannot find their bank details...

Suspicious ? ... Yeah getting that way !

Search the website for any contact details ....
There are none if you're logged into your account !

Okay, so I log out and use the everyone contact us option ...
Fill in the form and hit send/submit ...

The request has been black-holed
Error: The requested address '/contact' was not found on this server.

I think my money is staying in my bank account thanks very much.

This stinks to high heaven of a great big scam.

Genesis Mining ... I was serious about sending you money ... check it out, I created an account using michaelnz@msn.com ... But bollocks around sending money, accounts and banks looking invalid, plus what I'm reading above ... As someone has already said If it looks like a duck, walks like a duck and quacks like a duck ... It's a duck !
Shame really as you were offering a very good deal !

Did you try contacting them with this address?

contact@genesis-mining.com

I have used their support a few days ago and for me, everything was fine.

I have an account with them too, and not had a problem so far, I did pay with BTC, not using bank transfer, so can not tell you how that went.

Yes, I've sent an email to that address with the text of my post on here plus pics of the failed bank transfer showing their SWIFT code is wrong and the failed contact from their website too.

No reply yet though.

Heres another address to try too

http://genesismining.freshdesk.com/support/login

Thanks Ian,
I've opened a new ticket with them ... Now I'll wait to see if they reply !

There is only so much time I'm prepared to spent hunting unicorns !

Check our review of Genesis-Mining

https://cloudmining.guru/wp/genesis-mining-com/

Regards

Very quickly after I made contact with Genesis Mining I received a reply from Dr Marcus Krohn followed by a second email from Marco Streng.

They addressed all the issues I raised and thanked me for pointing them out.

As a result of that, I have purchased hash power from them that has been running for nearly a week now. So far I'm happy with the results I'm seeing.

I will be using the BTC from my mining contract with Cointerra to purchase more hash power from Genesis Mining. That will in turn be used to increase Gh/s in my CEX.io account.

I can see no benefit in owning mining hardware at the moment. There is nothing currently proven in the market that has the price, power, hash efficiency levels that will make then viable. Miners Cube's claim are astonishing, but until they actually deliver anything I can't consider them as an option.

So cloud mining seems to me to be the way to go ... you do miss out on the ongoing transaction fees though.

I had to contact their support at the beginning and found it to be a good experience, prompt reply and a very good outcome from my query.

Glad to see that GM got you all sorted out and that you seem quite happy with the outcome and the service.

Just want to point to our new main thread:

https://bitcointalk.org/index.php?topic=602022.0

please find the most recent infos there

What happened to Michael Cao?

Michael jumped off the boat.

Please all use the new main thread: https://bitcointalk.org/index.php?topic=602022 (https://bitcointalk.org/index.php?topic=602022)

but i have more chip lifetime cloud bitcoin mining contracts at 10GH/S at 9.95$

here http://gawminers.go2cloud.org/aff_c?offer_id=34&aff_id=674&file_id=250


and 160MH at 920$ here ... http://ltcgear.com/?apage=175

We all want a Trip to the MOON right?

http://media.giphy.com/media/Bj08TFFUMPmmI/giphy.gif
I hope MOON Coin will come back on Genesis Mining (https://www.genesis-mining.com/)
MOON has been doing pretty good the last 2 months, gaint 4 times his value.

Vocher-code: MOON will give you 3% Discount on Genesis Mining.

nope Genises does not make what it says on the tin. I had 5 mh running for two weeks, it was fine roi looked great  so I bought 175... hell wish I had stuck to 5 mh my out payment on 175 is less than .00045 btc/pmh/pd
 Yell for what I rent well that is the last I rent through them. Yes My genesis account is not on this name.

How long ago was that when you bought the 175?

I have 60Mh/s but payments do great!
Only last to days payments are bit later due to extra security control before payout.

For now we go really like a rocket! A rocket to the MOON
Thanks Genesis  :)

Bought the 175 MH 3 weeks ago. I have my own miners running three lightnings x 6 and three thunders x 6 and they make more than the 175 MH i bought at genesis mining. I am in ireland electric costs 10 c per w

Whats wrong with DRK payouts? They have fallen by 70%, and difficulty is pretty much the same...

Hmm, i mine 85% btc auto and 15% megacoin, mypayment are slight better than i calculated for.

Some times change to a othercoin can help.

Thanks, but Im asking if they are mining DRK why is it lower and lower?

They getting ready to dump and run....I still think genesis is a scam, ...man I am so sorry I put my money on there fud... anyone want to buy my acc, .

@zetaos are you only saying that to protect your affiliate link? any comment? :-\

There is no Affiliated link in my post or in my spoiler.
There is a Discount voucher in my spoiler MOON That will give you and me 3%

But you can also take a other discount vouchers...I think one user posted voucher MARS last week. Still i love it if you use mine ;-)
My setting for now  Scrypt 90% BTC auto and 10% WorldCoin.  SHA256: Bitcoin 100%

Its hard to beat the btc auto, thats why i have that 90%.  What settings do you guys have?

I have for SHA 256 100% BTC and for Scrypt 50% BTC (auto) and 50% WDC at the moment.