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Status is dead lol. I'm sad to see such promise wasted, but I'm not bag holding this any longer. |
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I did this for those people who prefer rigid historical analysis versus future modelling of economic conditions analysis. I know some people prefer the former to the latter, even if that kind of analysis is less profitable in the long run  Using this chart at coindesk: http://www.coindesk.com/data/bitcoin-mining-difficulty-time/20 May 2014: 6.9 billion start 27 September 2014: 34.6 billion finish Net increase over 4.3 months 5x or 500% higher  28 September 2014: 34.6 billion start 11 February 2015: 44.45 billion finish --Today--- Net increase 4.3 months 28.46%  The last measurement over the last 4.3 months looks much better and speculatively hints at a difficulty halting its rising trend at some point in 2015 (at least for a short while) Hmm, I guess (from what I'm reading here) the craze of mining is starting to slow as the price balances out. I'm in for the long haul, might as well buy a few more hashes.  Remember difficulty is going up in 11 days to 48.45 billion, dividends will be reduced by 8.39%; adjust your ROI calculations and decide if it is worthwhile. I bought my hash in December and therefore I've got some of BTC back  Also, AMhash1 at Havelock is less productive, but considerably cheaper. But, excellent customer service, error free payouts, regularity of payouts and coin choice is not part of that package. So, if you like the overall package of benefits at Genesis mining (I got my BTC converted into DRK and LTC for 1 month, which has done nicely) is what you need to relax, then it is the right choice for you I do prefer GM to anyone else, simply on the premise that according to my research they're likely to be around the longest. I'll have to factor in the diff change, but I'm not dropping too much capital into it. Man, I wish I had more money than sense ... In my current investments an outlay of 750 BTC would be earning AT LEAST 5 BTC per day net. And thatīs a slow day  Man, and here I am with less than a TH trying to make the most of a student budget lol.  |
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I did this for those people who prefer rigid historical analysis versus future modelling of economic conditions analysis. I know some people prefer the former to the latter, even if that kind of analysis is less profitable in the long run Using this chart at coindesk: http://www.coindesk.com/data/bitcoin-mining-difficulty-time/20 May 2014: 6.9 billion start 27 September 2014: 34.6 billion finish Net increase over 4.3 months 5x or 500% higher 28 September 2014: 34.6 billion start 11 February 2015: 44.45 billion finish --Today--- Net increase 4.3 months 28.46% The last measurement over the last 4.3 months looks much better and speculatively hints at a difficulty halting its rising trend at some point in 2015 (at least for a short while) Hmm, I guess (from what I'm reading here) the craze of mining is starting to slow as the price balances out. I'm in for the long haul, might as well buy a few more hashes. |
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Well when Asics came out in Jan 2013 the diff was 3 million, then Jan 2014 was 1.2 billion, last month 40 billion.
You are dreaming if you think the diff will be anything under 47 billion by end of this year. If btc price doesnt go up, alot of people are fup
If you have a better way to forecast than through past events you are welcome, but the curve seems to be going up.
They invented cloud mining because they cannot make any profit selling hardware that becomes obsolete within 90 days,
Do the maths dude Doubling the current difficult would require the additional usage of 26,9565 Bitman S5 ($413 plus PSU plus extras $600) units or their equivalent alternatives. This would require $161,739,130 this year up front, plus not a single old unit must be decommissioned, however at 44 billion difficulty most of the old 1.2 watt units had to shut off Therefore, if difficulty doubled, most 1 watt units would have to be shut down and therefore another $161 million would be needed to replace them as well; net $322 million up front costs Current Bitcoin price $225 makes this level of new investment impossible, because the profits per Bitcoin are insufficient to fund such investments. Annual production of BTC this year value at current prices (3600 times $225 times 365 days) $295,650,000. Most Bitcoins are never available to buy, under 30% reach the open Fiat Currency exchanges, which will be under $88,695,000 to fund hardware, labor and electricity costs. Nowhere, near close enough to fund the doubling of network hashpower. QED. Difficulty will not double this year, but stay under 50 billion difficulty range Pardon my stupid...but are you telling me that buying more hash now is a good thing or a bad thing? I want to believe that its a good time as if the difficulty isn't going higher than current equipments hash power that means theres a slight chance to make ROI. |
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Hi guys, I plan on heavily invest my bitcoin in this company (genesis mining). However I need to know the payout rate for 1 TH/S (1000gh/s). I know payout fluctuate depending on how btc is doing and the difficulty mining it. As of today 2/4/15 with the btc value at like 230 and difficulty at (idk) can anyone tell me the payout for 1 Th? Thanks.
1TH would take a long time to ROI if it ever would. I'd suggest doing what I do, buy low increments and when they pay off buy more. This way you wont earn as much right off the bat, but by the same token you're not going to burn money going in big. Mining is a gamble, play it safe. |
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Just PM'd you. My native language is english.
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I hate that news site, a lot of it is poorly written dribble about price and yatta yatta yatta. Seems odd to me Marco would bring up alts as we (or at least the vast majority of us) have pulled the plug on our scrypt and switched over to SHA due to low payouts. If I may be so bold, he should have spoken about that...how Genesis allowed customers escape low scrypt and switch to SHA at no extra cost...thats worth bragging about. GAW have stopped cloudmining with Scrypt and SHA now apparently so from today, which is crazy considering their SHA 256 Genesis Hashlets were still paying out each day, not as much as a GM 10GH/s SHA 256 contract but still above what I would call a zero payout. .WIll be lots of unhappy Genesis Hashlet owners today, I didn't have a huge amount but for my video comparision it basically only leaves the GM SHA 256 contract now actually giving me a payout. I heard about that just five minutes ago; I'm sorry for your loss, hopefully you got some sort of ROI out of them before they stopped. I've done my research on that obvious scam since they started (reminded me of Enron), I'm glad to see its finally coming to a close. |
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I hate that news site, a lot of it is poorly written dribble about price and yatta yatta yatta. Seems odd to me Marco would bring up alts as we (or at least the vast majority of us) have pulled the plug on our scrypt and switched over to SHA due to low payouts. If I may be so bold, he should have spoken about that...how Genesis allowed customers escape low scrypt and switch to SHA at no extra cost...thats worth bragging about. |
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This is plain thievery.
At this rate of 10 to 1 conversion it will take 30 years to recover the amount of the initial investment.
If BTC was regulated and a legitimate finance company did this they would be closed down.
Stay very far away from this company this is a sincere warning, this is a scam.
Have you ever invested in a stock that went down and your stock broker gave you the opportunity to swap it for a better performing stock after the fact? No "regulated or legitimate finance company" would do that for you, but GM just did. I would be grateful? lol, your so right! +1. If there is somehing sincere about that post, it's that it's sincerely stupid. Sorry to be using such words but accusing a company of thievery when you are actually being offered something for free is just plain wrong. It is not for free you fucking moron I have already paid them in full and they kept the scrypt hardware. Dude, you are not the only miner who has lost money in this new sector of the economy I bought 200ghs at pbmining, which went bust 2 weeks later. Hashie when bust in Janurary as well, but because I had AMhash GHs, the manufacturer rescued it's investor. Everyone, who had Gen 1 Hashie hashpower lost out. Genesis mining got 40% electricity reduction for it's customers, which is why you still have Scrypt cloud mining. Zeus mining: all its cloud-mining customers lost everything this Janurary (10 day electricity rule). CEX.IO, all it's BTC cloudmining customers lost everything in January (10 day electricity rule).  People who bought KCnminer Titans were looking at $2,500 losses (with LTC price rise, they may breakeven). Everyone who bought 750TI's and R9 290 have been mining at a "TECHNICAL LOSS" over this Winter This is what happens, when to many people think they can mine and convert into Fiat Currency e.g. they have no interest in saving their crypto currency coins. Because, you are with a well managed company (Genesis mining), you still have cloudming hash Good point. I think a lot of people buy into the idea that the more money they pour in to mining the bigger the payout later when in actuality I've had more luck buying small increments of hash power which can reach ROI in a few months then using the mined coins to buy more. Mining is a risky business at this moment, you can either wine about it, or try to make the most of it by turning it into a learning experience. |
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I still remember mining this way, after i got the block erupter the diff got to high in 8 weeks, i had to sell the erupters true eBay. Lucky dog. I still have a USB miner after it was too hard to mine and the tech was too old to sell. Sigh, it just sits on my desk as a relic of better times. |
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A late reply, but I made the conversion of my 4 MH to GH last week. So far I've gotten a little more of a payout than before, nothing to write home about but I'll take it.
I'd really like to see some of those previous promises/service improvements come to fruition soon.
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Is it me or is the estimated next Bitcoin difficuly nose dived. Am I reading something wrong or is this because somebody huge has switched the off button?
**Massive image removed**
Damn that image was HUGE. On BTCWisdom its reading the next est. difficulty is at 45,499,870,788 a +3.48% increase from the current difficulty set at 43,971,662,056...so if any switches are being flipped, their now in the "on" position. |
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So uh...when I get a 0 BTC payout due to the amount to be paid being too small (but non-zero), do these days count towards the 20 days of unprofitability before the contract is terminated?
I originally assumed that after the balance on GM exceeded the minimum payout amount, it would be sent - but after 10 days of this (2k to 4k each day), that doesn't seem to be the case. Will I ever see these funds, or will they never be credited to me until the payouts eventually actually drop to 0, and my contract is terminated? '~'
Contracts are for life so long as the payouts exceed the profit. When you make zero BTC for 20 days your contract is terminated and thats the end of that. What you have to do is basically make the most of what you've got. For a while now I've started hoarding DRK and UNO and doing some day trading with it to increase my ROI, however its a slow battle. You can reach ROI...but the time frame depends on the price of BTC and how well you can manage your hash power. |
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Not very good experts then haha.. lol They're expert content marketers I'll give them that. |
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All right, Iīll try for UNO.
...
I'm going to follow you guys, just pushed all my scrypt to DRK and 25% to sha-256 to UNO. I've lost faith in the auto trader, after a week of testing it seems I get a little more doing things this way. |
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I think most of us know the risk of such investments, thats truely not gms "fault"
BUT
they sold contracts where they possibly knew that the customers wont ever roi, just in focus their own profit.
im not a maths prof, i trusted them and the community. they are not adding more coins or give us a goodie, what i see are just some posing posts/pictures
yes , id call that scam!
I would like to just add my real example. I put some money here in GM in June 08: 0,42910000BTC . . . As of today, December 18 I received: 0.21294324 BTC This is pure fact how this works. You never ROI. Please do some calculation before you invest. I have almost the numbers, about 43% recovered. The only way I think I'll see an ROI is when (if ever) BTC jumps WAY up and I can sell...but the current downtrend isn't promising.  |
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I don't understand what people are complaining about here.
I am mining Unobtanium (UNO) at GM. I am also mining it on my local mining gear with miningpools.co. The two are pretty much on parallel, with GM slightly exceeding miningpools.co in terms of payout. But pretty much the same.
So you're complaining about ROI?
Have you considered the possibility that it's mining whatever particular coin you've chosen?
I agree. I've allocated some hash power over to Darkcoin on the off chance it makes a rebound. When I bough into GM I knew there was a fair chance I'd never see my investment returned in full, but mining is a gamblers game anyways. |
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Well I got my payout on my measly 8 Mh today. It is up to .00042367 from yesterdays .00026291. Yipee Happy Days! Can anyone suggest another Scrypt coin to mine that Genesis has that would yield anything better? Thanks.  Have a look on Coinwarz and see what is profitable at a given time.. only problem is..it changes quite often sooooo ..it is quite hard doing this coin trading stuff sometimes..haha.. Or look at one of the coins and think if there is anything amazing and new that might happen to it soon, maybe a new feature they are adding etc, so you mine a few now and just hope that it have a little pump in the future and get out before the dump which is normally what happens, I'd stay away from those kind of coins. I have a little power allocated to Darkcoin as it usually makes rebounds and its been active for some time. I used to be in the coin day trading game, it was fun back when Mintpal was still around, but now its too slow and there's way too many coins to manage. |
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Such sad payouts. So far I've made back 43% of my initial investment and it looks like I'll break it in late 2015 if these contacts hold up.
Marco, please for the love of the blockchain give us some more options to use this hash power. It takes far too long to add new coins that ultimately return low within a week. We need more options to use our contracts.
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