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Author Topic: Genesis mining vs hashnest  (Read 5321 times)
PesiHUN
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August 01, 2015, 01:43:47 PM
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Hi im thinking about putin 1.5 btc in genesis or hashnest. can u guys say pros/cons or for example how much profit u get for 1 TH in both place? because i can calculate hashnest income but cant the genesis
Ty for all your posts

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August 01, 2015, 01:45:51 PM
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Be very wary of cloud mining services. A great deal of them were ponzis or simply complete scams. It would be best to check proof of mining by getting a signed message from one of their addresses that they mine to.

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August 01, 2015, 01:51:06 PM
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Be very wary of cloud mining services. A great deal of them were ponzis or simply complete scams. It would be best to check proof of mining by getting a signed message from one of their addresses that they mine to.
Thank ya, i think this two is okey im jsut interested in for example in this week how much the payout of genesis mining, because i cant check it anywhere :/

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August 01, 2015, 01:56:58 PM
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i hope it can help you after reading THIS
its about cloud mining

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August 01, 2015, 01:57:48 PM
 #5

Hi im thinking about putin 1.5 btc in genesis or hashnest. can u guys say pros/cons or for example how much profit u get for 1 TH in both place? because i can calculate hashnest income but cant the genesis
Ty for all your posts

Both Genesis Mining and Hashnest are legitimate. The problem with Genesis mining is twofold: 1) the hash they sell is over priced and 2) you can not sell when you wish. If you buy at Hashnest you get the best price and you can sell your hash on their market any time you want. I have a guide on how to profit with Bitmain Hashnest for more details, hope this helps.

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August 01, 2015, 01:59:48 PM
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Hi im thinking about putin 1.5 btc in genesis or hashnest. can u guys say pros/cons or for example how much profit u get for 1 TH in both place? because i can calculate hashnest income but cant the genesis
Ty for all your posts

Both Genesis Mining and Hashnest are legitimate. The problem with Genesis mining is twofold: 1) the hash they sell is over priced and 2) you can not sell when you wish. If you buy at Hashnest you get the best price and you can sell your hash on their market any time you want. I have a guide on how to profit with Bitmain Hashnest for more details, hope this helps.
thanks, you wrote down what i think, than ill stay with hashnest i was there just there was a genesis spike and i was interested about it. I have some hashpower already in hashnest and its good just slowly s5 will be more profitable than usimoo :/

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August 01, 2015, 02:33:53 PM
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Hi im thinking about putin 1.5 btc in genesis or hashnest. can u guys say pros/cons or for example how much profit u get for 1 TH in both place? because i can calculate hashnest income but cant the genesis
Ty for all your posts

Both Genesis Mining and Hashnest are legitimate. The problem with Genesis mining is twofold: 1) the hash they sell is over priced and 2) you can not sell when you wish. If you buy at Hashnest you get the best price and you can sell your hash on their market any time you want. I have a guide on how to profit with Bitmain Hashnest for more details, hope this helps.

I second that. I tried out genesis and i'm far away from getting my investment back. Cloud mining simply isn't worth it. Trading on hashnest might be profitable though. Though i think that's trading, not cloud mining.
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August 01, 2015, 07:25:10 PM
 #8

Hi im thinking about putin 1.5 btc in genesis or hashnest. can u guys say pros/cons or for example how much profit u get for 1 TH in both place? because i can calculate hashnest income but cant the genesis
Ty for all your posts

Calculate bitcoin mining profit here - http://www.cloudmining.website/calculator.php
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August 02, 2015, 05:52:49 AM
 #9

I have been doing the following thread, link below, for a while. Might be useful for you for when trying to compare daily payouts for GM and Hashnest.

https://bitcointalk.org/index.php?topic=768931.msg12024086#msg12024086

Ian

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August 02, 2015, 10:47:32 AM
 #10

If it was up to me, I'd stick with a platform that lets you buy and sell hashpower, rather than sticking to a contract with no options of recouping/reducing losses.
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August 25, 2015, 03:01:57 PM
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I used both services, I suggest you to use Hashnest. In Genesis Mining you can't sell your hashrate, but in Hashnest you can sell whenever you want.

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August 25, 2015, 03:06:43 PM
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I am going to give a try on PACMiC v3 what are you thoughts? Is it the same as the separate miners?
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August 25, 2015, 04:14:57 PM
 #13

I suggest you use Hashnest's service in this case. They're around in the game for a long time now and the best part is once you bought a contract with them, you can still sell them anytime you like, depending on what price you'd like it to be bought.

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August 25, 2015, 04:47:07 PM
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I have been doing the following thread, link below, for a while. Might be useful for you for when trying to compare daily payouts for GM and Hashnest.

https://bitcointalk.org/index.php?topic=768931.msg12024086#msg12024086

Ian

Good thread, valuable info, thanks! Hard evidence that buying S5 hashing power at Hashnest is a better investment than Genesis Mining.

luciann
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August 26, 2015, 03:45:02 AM
 #15

doesnt genesis mining allow you to pay in credit card as well?

so I would just select that route, if youre that worried if something does go bad and then you have a security measure.

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August 26, 2015, 02:24:22 PM
 #16

doesnt genesis mining allow you to pay in credit card as well?

so I would just select that route, if youre that worried if something does go bad and then you have a security measure.

Yeh they do, but they hold your payouts for 30 days, you can still track them but it would be a bit silly for them to start paying card paying customers from day 1 or else people could get payouts for a while then get a chargeback keeping the coins they got paid out also.

GM use a 3rd party processor called simplexcc to do their card payments.

Ian

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August 26, 2015, 02:37:06 PM
 #17

I have been doing the following thread, link below, for a while. Might be useful for you for when trying to compare daily payouts for GM and Hashnest.

https://bitcointalk.org/index.php?topic=768931.msg12024086#msg12024086

Ian

Good thread, valuable info, thanks! Hard evidence that buying S5 hashing power at Hashnest is a better investment than Genesis Mining.

Well my results are not biased, thats how I like them to be.

Yesterdays Hashnet payouts were awful, just hope they don't get other days like this as well.

https://bitcointalk.org/index.php?topic=768931.msg12248398#msg12248398

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August 27, 2015, 01:53:58 AM
 #18

It has now basically been a year and I am STILL trying to figure out GM's true business model. Let's see... I give them US$1750 for 100MH in early Sept. 2014... within 60 days, they drop the payout by over 70%, which did not map out to the rest of the industry... within another 40 days, they give us scrypt customers a choice... convert to SHA mining or risk having our [LIFETIME] contracts terminated. The icing on the cake is they insult us scrypt customers by only offering us 1GH per 1MH, which everyone knows should be at the very least 20GH per 1MH (circa Sept/Oct 2014). What does this equate to? Again, after (1) year of them playing with my $$ and systematically reducing their payouts to their early adopters, they have paid me back less than $330 of the $1750 I invested with them. Specifically, their daily payouts to me are less than US$0.07 per day at this stage so it can be concluded I will never reach anything near a ROI within my lifetime.

This industry is already full of enough scammers and GM's actions do nothing to promote them as a viable and HONEST service provider. Sooner or later, their unsustainable practices will be their undoing.

=================
Looks like another major (over 40%) reduction in payouts for August 2015 is on track (see below). Coincidence or intentional? You decide...

Scott-

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August 27, 2015, 06:17:44 AM
 #19

It has now basically been a year and I am STILL trying to figure out GM's true business model. Let's see... I give them US$1750 for 100MH in early Sept. 2014... within 60 days, they drop the payout by over 70%, which did not map out to the rest of the industry... within another 40 days, they give us scrypt customers a choice... convert to SHA mining or risk having our [LIFETIME] contracts terminated. The icing on the cake is they insult us scrypt customers by only offering us 1GH per 1MH, which everyone knows should be at the very least 20GH per 1MH (circa Sept/Oct 2014). What does this equate to? Again, after (1) year of them playing with my $$ and systematically reducing their payouts to their early adopters, they have paid me back less than $330 of the $1750 I invested with them. Specifically, their daily payouts to me are less than US$0.07 per day at this stage so it can be concluded I will never reach anything near a ROI within my lifetime.

This industry is already full of enough scammers and GM's actions do nothing to promote them as a viable and HONEST service provider. Sooner or later, their unsustainable practices will be their undoing.

=================
Looks like another major (over 40%) reduction in payouts for August 2015 is on track (see below). Coincidence or intentional? You decide...

Scott-



I ve been telling people not to deal with GM for over a year. But people simply do not listen.

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August 27, 2015, 07:23:22 AM
 #20

Wow there has been a lot of information here. Thank your for your inputs. I will now scratch off GM from list.

The downside is that you don't have a lot of options when you want a way of the business. If they offer a bit trading maybe others will take a bite.
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