I would rather have an AntRouter R1 once Bitmain starts shipping. |
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Just came across this thread, what a great idea, thanks for this!
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If you only have one computer, choose to use Windows, and care about Microsoft's invasion of your privacy you should be running Windows 7 until end of life with automatic updates turned off. When update Tuesday rolls around wait a week and do a search to find out which updates you should avoid. Assume Microsoft is going to try to push Windows 10 on you any way they can. If your laptop is compatible with Linux consider ripping Windows off and installing Ubuntu instead.
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Not sure how much math you need for that. Say we take the ~230 sat/Gh/s as the basis just before the 17th and before the drop. If the difficulty rose by 4.17% to a level of 104.17%, then the expected revenue would be inversely proportional to that. 230 multiplied by (1/1.0417) is 220 sat/Gh/s, not 165. Moreover, the difficulty jumped by 4.98% on September 4th. While there was a drop around that time from 270 down to 230 (for whatever reason), that later stabilized just below 260. Doing the same math, that seems more reasonable; 270 * 1/(1.0498) = 257. Most legit as in according to scam experts on these here threads. I don't know if anybody's a scam expert, but it's not like they didn't have marks against them in that cloud mining 101 thread. Their acquisition of SP hardware (back in February) lent them some credibility. I'd wait for GM to come in and give an official explanation, as right now it's just guesswork. (disclaimer: I don't use GM, if you do and you feel something hinky is going on, act accordingly). It smells like a scam to me and has all this year. What has given me this impression is their scammy behavior and business practices. But if they´ll somehow be able to prove that the hash they´ve sold matches that they have mining (first they need to prove that they´re mining at all, of course) then that´s just great. As for explanations well I´m not sure how seriously they can be taken. It remains to be seen. Faith based isn´t worth jackshit in the crypto marketplace. If the world´s largest cloud miner (with a dedication to transparency according to itself) can´t be transparent about its mining that seems to be a very big red flag. Maybe about the size of Rhode Island even. Only hard evidence will do. I doubt Genesis Mining is a scam, they will live up to the fine print in the contract you agreed to when you bought hashing from them. They just have never been a very good deal. I have no idea why people bought one year contracts, or contracts they knew could not be resold, when the option of Hashnest or Bit-X was always there. People at Hashnest who traded the riskier contracts like UMISOO, or have held onto S5 hoping price of bitcoin will recover are bitching also, but they have no excuse. Prices of all contracts at Hashnest have declined since August with the decrease in bitcoin price. Traders who watch the charts moved into cash end of August latest while waiting for the new S7 to start trading next month. |
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Daily charts in Hashnest showed price began a decline back at end of August, warning that it was time to sell, when MA5 crossed over MA15 and persisted:  There was a second more urgent warning when the big drop happened early September. Probably due to investors nervous about the upcoming S6/S7. There was fair warning that it was time to exit your S5 positions. |
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Do you see Wall Street investing in Litecoin or Monero?
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They scammed out scrypt hash and a few weeks later made it worthless. Now they´re writing down the payouts of old customers to bolster payouts to new customers. It´s a scam. In a few months I will be posting the same thing when their supply of new idiots has run out.
Apart from the operators the only people benefiting are referral whores that profit from scamming others into the scam. Of course you´ll see them promoting and defending the scam to the very end.
Genesis Mining does have an affiliate program but to be crystal it is not very lucrative for affiliates at all so not a strong reason to avoid GM. However there are a few other negatives when considering investing. 1) When you buy hash at GM you are stuck, there is no way to sell it. That alone is reason to run, not walk away. 2) Also consider there is a new kid in town with daily fees half what GM charges: Hashnest S7. Cost of S7 is same as Genesis Mining. Downside to S7 is the miners are new and if you want to buy right now you have to buy a full miner to hash with deployment on Oct 10. However once Oct 10 comes, not that far off S7 hash will be trading on the Hashnest internal market so you can buy and sell smaller amounts of hash at will. I would be surprised if Genesis Mining exists as it is now in a year. As demand for their product diminishes they will change their business model. |
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Red candles on increasing volume S5 price does not seem to have found a bottom yet. For myself I would want to see one up day before buying; or wait for S7:  |
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Start Tor daemon or Tor Browser then start Bitcoin Core. Green check mark lower right will confirm you are connected over Tor. Then exit Tor or Tor Browser and you will see Bitcoin core also disconnect.
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So I have Tor, though I don't use it often. I am wondering how I can strap Armory/Bitcoin to use Tor.
Is there any instruction out there for this that is straight forward?
Would really appreciate assistance!
Open Bitcoin Core and configure Network Settings to connect through Tor. Here are settings if you use Tor Browser to connect to Tor.  You will then have to start Tor Browser and leave it running for Bitcoin Core to connect. Use port 9050 if using Tor daemon instead of Tor Browser bundle. |
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You can buy S5 hashing power at Hashnest for $0.20 per GH/s right now and daily maintenance fee is $0.0012. Maintenance fee is same as Genesis Mining but cost per GH/s is half. That is somewhat of a bargain.
S5 price is depressed because S7 hashing power will be traded about October 10 and the daily maintenance fee will only be $0.00058 per GH/s or half of S5 or best Genesis Mining has to offer. If you are considering buying cloud mining once S7 starts trading and we know what owners are willing to sell for it will be possible to make the call on whether S5 or S7 is the better deal. One thing we know for sure is that Genesis Mining has nothing to compete.
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If you are considering buying cloud mining best to wait until October 10 when S7 hashing starts trading on Hashnest. Antminer S7 hashing power at Hashnest will cost about $0.40 per GH/s and daily fees will be half that charged by Genesis Mining. You can buy S7 to hash now but you will have to buy a full miner (4860 GH/s) for $1923. Once trading starts you can buy smaller amount of GH/s on the Hashnest exchange.
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Not being able to sell your hashpower is the critical fail that could lead to the demise of Genesis Mining. The second is the upcoming availability of S7 hashing power on the Hashnest market about October 10. S7 hash will be about the same cost as Genesis Mining SHA-256 but Antminer S7 daily maintenance fee will be half of Genesis Mining or $0.00058/GHS/day. No one who takes the time to research will buy at Genesis Mining when Hashnest has the far better deal and GM will no longer be relevant.
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I'm not using any anti virus since 2 years ago. Most antivirus fail. Currently I'm using deepfreeze. It's more effective than anti virus.
Thanks for the info. Deepfreeze is a new one to me, checking it out right now. Shame it costs $45 though but I like the approach. Free Zonealarm used with Malwarebytes + Anti-Exploit has kept me problem free so far. |
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I have never used a bitcoin debit card although I wanted to get one but am so confused as to which one is the best one for us in Europe, if anyone has any idea please let me know as I would be interested in securing one.
There are quite a few bitcoin debit cards for Euro only, in fact more than for US. I keep an up to date list at this link. |
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Antminer S7 daily maintenance fee will be half of Genesis Mining or $0.00058/GHS/day. Cost per GH/s will be roughly equal. If you want to pre-order Antminer S7 to hash right now the cost will be $0.40/GHS but you will have to buy hash equal to a full miner or 4860 GHS. Still the best deal around and publicly traded about Oct 10. I see no way Genesis Mining will be able to compete with Hashnest with the significantly lower maintenance fees of S7. And unlike Genesis Mining you can sell your hashing power any time you like.
Was looking into Genesis mining but now like you said above Hashnest comparing to others is miles better in fees and a lot of other areas too., The only thing I do not see with Hashnest you cant buy under 1TH or am looking in the wrong place. Am all for grabbing cloud hash and testing the water but got so fed up of fees with a lot of companys. Maybe hashnest can change that. You have to create an account at Bitmain and then go to the Hashnest user panel. S7 hash will not be traded on the internal market until about Oct 10 at that time you can buy small amounts. Right now you have to buy hash equal to a full S7 and it will not be deployed until Oct 10. ahh that would explain things more clear to me as to why can not buy yet. I do have an account with them just wasn't aware of the other stuff so need to wail till 10th October in order to but as want. Am assuming that the other s5 and so on are available to buy at any amount as been out for a while or the feature of trading amounts not yet available on an till 10th? Yes you can still buy S5 hash on the Hashnest market but I would not. Price has been in a steady downtrend. Wait for S7 to start trading. |
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Antminer S7 daily maintenance fee will be half of Genesis Mining or $0.00058/GHS/day. Cost per GH/s will be roughly equal. If you want to pre-order Antminer S7 to hash right now the cost will be $0.40/GHS but you will have to buy hash equal to a full miner or 4860 GHS. Still the best deal around and publicly traded about Oct 10. I see no way Genesis Mining will be able to compete with Hashnest with the significantly lower maintenance fees of S7. And unlike Genesis Mining you can sell your hashing power any time you like.
Was looking into Genesis mining but now like you said above Hashnest comparing to others is miles better in fees and a lot of other areas too., The only thing I do not see with Hashnest you cant buy under 1TH or am looking in the wrong place. Am all for grabbing cloud hash and testing the water but got so fed up of fees with a lot of companys. Maybe hashnest can change that. You have to create an account at Bitmain and then go to the Hashnest user panel. S7 hash will not be traded on the internal market until about Oct 10 at that time you can buy small amounts. Right now you have to buy hash equal to a full S7 and it will not be deployed until Oct 10. |
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Antminer S7 daily maintenance fee will be half of Genesis Mining or $0.00058/GHS/day. Cost per GH/s will be roughly equal. If you want to pre-order Antminer S7 to hash right now the cost will be $0.40/GHS but you will have to buy hash equal to a full miner or 4860 GHS. Still the best deal around and publicly traded about Oct 10. I see no way Genesis Mining will be able to compete with Hashnest with the significantly lower maintenance fees of S7. And unlike Genesis Mining you can sell your hashing power any time you like.
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may be genesis mining still best for now..
seems a bit expensive to me, hashnet has better price and has the s7 available already, so better maintanance fees If genesis will happen to decrease the prize per ghs like hashnest does i would possibly invest because unlike other cloud mining sites out there they are one used to be in public. They did lower there fee to 0.0012 dollar per gh/s. And Genesis will probably launch X11 cloud-mining. (Discount code is MOON) 0.0012 dollar per GH/s? So 1.2$ per TH/s? Either an outright ponzi or you mean 0.0012 BTC which is close to 30 cents per GH, which is pretty high? You pretty much need to pay no more than 20 cents per GH, or probably less, considering you're probably losing a lot of that GH to huge fees. What is the hosting fee of Genesis Cloud Mining? He is talking about fees. For new contracts purchased since September 16th 2015 maintenance fee is 0.0012 USD per GH/s. Not the cost of the hash. |
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I personally would not invest anything in cloud mining companies, since they all end the same, or is a ponzi, or scam, or simply disappear. No such product can offer no guarantee of anything, there are today, not tomorrow. For many operations you do with the ROI in the end not recover.
No one doubts the legitimacy of Hashnest. On October 10 GH/s of the most power efficient bitcoin miner ( Antminer S7) will be available on the Hashnest internal market. You can buy now as pre-sale to hash but you would have to buy hash equal to one S7 for $1900. |
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