Latest posts of: IanFoxley

News and info about Genesis Mining

This will get updated with latest news regarding Genesis Mining. Also in this thread are historical payouts and video links.
In September 2015 I wanted to compare payouts with GAW miners and their Hashlets and Genesis Mining so for a few months I did just that, well until Scrypt payouts went to nothing, but for historical purposes, it could be fun to see what payouts were like, even the USD/BTC price.

Now I am focussing on providing payout data for Hashnest and Genesis Mining so users can compare the two. So I purchased 50GH/s of all known contracts so that you can look up information quite easily.

Hope you find it useful

August Update
At the moment Genesis Mining only sell SHA 256 contracts now. Scrypt has been unavailable for a few months. Marco Streng mentioned in the latest webinar that X11 mining will be coming very soon so when i know more info, will update.

Their first Webinar on 28th July 2015. Interesting info here. Will update links when more become available.

https://www.youtube.com/watch?v=LM0YUEbOGu4

Update 2016

From 8th January Maintenance fees for SHA 256 contracts on newly bought contracts is 0.00079 USD per GH/s per day or 0.79 USD per TH/s

X11 and ETH contracts are 1 year and have all fees included in upfront cost.

Genesis Mining has does have advantages and disadvantages though.

Advantages - Genesis Mining.

You can mine other coins, as well as BTC,

For SHA 256 contracts, users can allocate hashpower to Bitcoin, UNO and Zetacoin and use the autotrade function to get payouts in Litecoin, Dash, BTCD and Dash.
All the auto trade coins have (AUTO) beside them. With (AUTO) marked coins, payouts are still in Bitcoin but are traded when the payout goes out to the relevant coin at the going rate, as in whatever price they are being traded at, at the time. So instead of sending your Bitcoin payout to Cryptsy for example to trade to Doge or Litecoin, you can just allocate hashpower to LTC (AUTO) or Doge (AUTO) and it will trade your Bitcoin payout for Litecoin and Doge. Can save time and hassle.

Users who are still on Scrypt contracts can allocate hashpower to LTC and Dogecoins, DRK, FTC, POT, NVC. Blackcoins and Megacoin and also Viacoin. Dnotes and World Coin

You can also specify how much of your hashpower you want to direct to coins when you mine, so you can mine different coins in one go. 50% to LTC and 50% to BTC for example.

Lots of user promo-codes around giving you a discount off the price, for example code CK_DISCOUNT (3 % code for Lifetime, 2.5% for 1 year Master contracts)

They accept Credit Card, LTC, BTC, Doge, Dash, USD and Euro Bank Wires as payment.

Every user gets a referral code that allows them to give discounts to other users and also receive hashpower for free.

Disadvantages - Genesis Mining

You do not get to choose a pool to mine from

It is not possible to trade your hashpower

Feel free to add or discuss below.

Thanks
Ian