I will make a cloud mining service in the future which will be legit and transparent. Mining farm/hardware pictures, pool mining address and photos of our staff will be included as well. All of this is in the works. I want to provide a trustful cloud mining service for the Bitcoin community. I know how hard it is to get scammed (considering the fact that I got scammed a lot of times with Hashprofit, Gaw Miners, Terabox and cloudminr.io) therefore it is best to provide customers with 100% transparency. I hope that my service would become the most reliable and trusted cloud mining service in the world. I hope so...  What you are describing already exists it is called Hashnest. Unless you have free power you would not be able to compete with the S7 hash that will start trading next month. |
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I love the current theme absolutely no reason to change.
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Genesis Mining has never been transparent, but to be fair calling them a scam or ponzi is probably too strong. They have just never been a good deal and used hype and affiliates to promote their products.
If bitcoin price stays in this trading range difficulty will continue to increase until at time of block reward halving next July all current mining contracts at Genesis Mining will be underwater and cancelled. Maintenance fees will be higher than profits. GM may introduce new contracts once they upgrade their miners but based on their business model they will never be transparent, give customers a fair deal or have an exchange (like Hashnest) where you can sell your hashing power.
Whatever you think about Hashnest with introduction of S7 hashing market next month they are really the only game in town. GetHashing will probably buy S7 miners and offer new hosted mining but it remains to be seen if they can be competitive.
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Considering you could buy two Trezors for $40 less than the KeepKey I do not see this one taking off. Not being able to use with a phone kills it for many people. Once you get past the plastic feel of the Trezor you can appreciate the compact size and light weight, no problem carrying it in your pocket to use with your phone. Just consider Trezor as a disposable hardware wallet:) After all what is important is not the device itself but the 24 word seed.
Well, if you want disposable, you should go with the Ledger Wallet HW.1 as they are only $18 and work on phones as well.  I have both the Trezor and Ledger. I prefer the Trezor, it is more convenient to use with a phone. |
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Considering you could buy two Trezors for $40 less than the KeepKey I do not see this one taking off. Not being able to use with a phone kills it for many people. Once you get past the plastic feel of the Trezor you can appreciate the compact size and light weight, no problem carrying it in your pocket to use with your phone. Just consider Trezor as a disposable hardware wallet:) After all what is important is not the device itself but the 24 word seed.
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I have no idea why he chose phpBB with that gawdawful skin. If he wanted to compete with this forum he should have used SMF, which people like and are comfortable with. I registered over there and will check in once in awhile is all.
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Trezor sells for $99. At $239 I will not be buying a KeepKey, it may be pretty but it is less functional than a Trezor: you cannot use it with your phone. The Case hardware wallet is only $199.
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can you pay them in bitcoin? no? that's the answer. also, I think this device is overpriced
That's the weirdest part about 21's project: it can only be bought on Amazon, who don't even accept BTC. For a mainstream audience, this is positive. But they won't shell out $400 to get nearly nothing in return. I think it's a smart business move on their end. Most people still don't know/understand bitcoin. So they pitch the "First Bitcoin Computer" to a wide audience on Amazon and make it easy to pay. I'd venture that 95% of folks that see it aren't comparing it to a Bitcoin Miner that is always associated with ROI. Most shoppers never shop for electronics with the ROI mentality. So then it just becomes a sales pitch to the un-informed but curious shopper. And it's a good pitch for those outside the dome. Backed by respected VCs. Something that can just be plugged in and generates "money" when it's on. Brilliant! This will sell like hotcakes and make investors loads of money. It's not geared to the 5% of us in the bitcoin dome, it's for all the other suckers buyers out there that want an easy money tree that doesn't need water. Who cares if it will never grow past a blip in the dirt. I think you underestimate the intelligence of the potential consumer. The AntRouter R1 has a better chance of commercial success IMO ... but that one is not shipping yet either. |
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KeepKey just put them up for sale at $239. Free shipping:)
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slush mentioned on reddit it actually only costs $19 to produce a Trezor, selling price is where it is to recover r and d and cover operating expenses. I suspect a year from now Trezor will cost under $50 and be considered disposable. Break it? Just restore a new one from seed. Or maybe Trezor will come out with a new model that is better than KeepKey.
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Something to consider is the bitcoin block reward halving is coming up ~ July 2016. If bitcoin price stays at current level, difficulty continues to increase, when reward is cut in half all current Genesis Mining contracts will be underwater (payout will not cover maintenance fee) and will be cancelled. Before that time if GM actually plans to continue selling hashing they will have to upgrade their miners to remain competitive. They may throw current contract owners some sort of bone to upgrade to new more expensive contracts.
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Thanks for this. I look forward to buying one. It does not appear to have any advantage over Trezor which I use everyday, but looks classy and more satisfying to own. I love Trezor but do not like the cheap plastic feel of it. Wish they had kept the metal case.
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There were 1000 S7 miners.They are just out off stock. Does any have an idea when the sales will begin on Bitmain's site?
Probably not until after S7 hash starts trading on Hashnest, and then restock late October. You can still buy an S7 to hash at https://www.hashnest.com/hash_currencies/25/shop stock remaining is over 800. |
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I am thinking of cloud mining to save me the hassle of the equipment and all. Is this a good choice? If it is what would you recommend and where should I start? I have seen many threads in here about it, but it is hard to tell which is good and which is a bad idea to listen to. The only mine I seen is .001 per Gh if you buy 20k GH. Now are these charges for the entire contract or just for the month? It is so confusing. Thank you in advance for the help.
First, you really should be thinking about trading hosted mining instead of just buying cloud mining, and never consider an outfit where you cannot sell your hash (like Genesis Mining.) Earlier this year it was not hard to make 15% per month trading hash at Hashnest. I blogged my experience at how to profit with Bitmain Hashnest. Right now and for next year I also expect the action to be at Hashnest. S7 hash is scheduled to start trading October 10 and you can bet I will be trading and blogging my results. It is all about buying hashrate when prices are in an uptrend and selling for profit with mining income as a bonus. |
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Jeez louise, just click the button to stay with bitcoin. Is that so hard?
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Consider buying a Stickminer to learn. Once you decide if you like mining as a hobby perhaps move up to a used Antminer S5 if you can handle the heat and noise. |
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If you read their FAQ they are under no obligation to reveal any details, good luck with that. But they´re dedicated to transparency, according to themselves. Since that transparency stops at the first most important thing that statement of theirs is total bullcrap. How about we´re the world´s largest operator? Think that´s in touch with reality? Marketing hype. The total hash rate of Genesis Mining is unknown while Hashnest is over 27 PH/s. GM has never been transparent and are in business to make a profit like everyone else. Hashnest is not totally transparent either, but a hell of a lot more information is made available. |
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If you read their FAQ they are under no obligation to reveal any details, good luck with that. |
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Works great! Thanks for this.
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Slow news week. This gadget is getting more attention than it deserves.
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