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Author Topic: Genesis-Mining.com - scrypt hashpower for rent!  (Read 20383 times)
Genesis-Mining (OP)
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February 15, 2014, 05:07:14 PM
Last edit: June 03, 2014, 01:44:01 PM by Genesis-Mining
 #1

New main thread!
https://bitcointalk.org/index.php?topic=602022.0


Dear all,

We are thrilled to announce the launch of the first scrypt cloud hashing service offering contracts on a large scale on

  http://genesis-mining.com

Our initial offer is a 1 year contract for 1 MH/s scrypt hashpower. We redirect the hashpower to you and maintain the rigs for you. Price depends on the amount of MH/s you wish to rent. Please take a glimpse at our website for more information. You will receive the hashpower within 24 hours after payment is received (no delays due-to setup, because mining equipment is already in place). Payments are possible in BTC as well as in Fiat.

During the start-up phase, rigs will mine via middlecoin.com (alternatively hashco dot ws) and you will receive daily payouts in Bitcoin. Going forward, you will be able to decide which Scrypt based coins you want to mine.

Rigs are in place and they are already mining. At the moment, we are adding further hashpower to the farm:
http://www.middlecoin.com/reports/1BtzFDErNKMMFeCSkho9tK7Cr8eus64x5K.html
A part of the farm is already rented. The amount of hashpower is limited!

This is a pre-order phase!

We are looking forward to hearing from you about your hashpower needs on: http://genesis-mining.com

Our plan is to go live on 19. Feb 2014!

Please drop us a line if you have any questions on:  contact@genesis-mining.com

Best regards,

Your Genesis Mining Team



*****  UPDATE *****

19. Feb 2014:  We went LIVE today!

Thanks to our existing and to our new clients!
We are thrilled to bring to you the best and most efficient scrypt mining power.

And to celebrate the event we reduced our prices significantly!
See for yourself and compare:

Silver contract: now available for 89$ cent per khash/s
Gold   contract: now available for 84$ cent per khash/s
Platin contract: now available for 79$ cent per khash/s


Please visit our website:

  http://www.genesis-mining.com/

for details and let us know what you think!

All existing and new clients were automatically upgraded to the new rates! More mining to you!

Happy Mining!

Your Genesis Mining Team

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February 15, 2014, 06:24:11 PM
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Is that serious? How do you get those cheap prices? If I build up a rig with say 3 x 280x gpus that have around 3 x 710 KHash/s = 2130 KHash/s I have to pay at least:

100$ Motherboard
3x 500$ 280X GPU
25$ Ram
3 x 30$ Riser Cables
230$ 1000 Watt PSU
----------
Total: 1945 $

 That would effectively be 1945/2130 $/(KHash/s) =  0.9131 $ /(KHash/s). The power consumption of this rig with 3x 280x would be 3*250 W + 100W = 850W (GPUS + Mobo). I live in germany and have to pay at least 25 $/KWh that would mean i would have to pay for this rigs electricity 0.25*0.85*24*31$ = 126.48 $ per month. Effectively this would be a total of 126.48/2130 $/(KHash/s) =0.05938 $/(KHash/s) per month which is nearly double the electricity cost of 0.04$ which you charge.
This would mean for my rig I would have to pay a total of 0.9131 + 12* 0.059 = 1.6211 $/(Khash/s) for one year mining. Compared to your contract that effectively costs 0.99+ 12* 0.04 = 1.47 $/(KHash/s) for one year mining! This is much cheaper plus I don't have to maintain the rig and worry about cooling and noise!

Are my number wrong or is that a pretty damn good offer?

Greetings,
b0n1
Genesis-Mining (OP)
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February 15, 2014, 09:15:49 PM
 #3

Hey b0n1,

Thanks for your question!

Your numbers look right, we did similar calculations on our own. Please note that our farm was designed from day 1 on with efficiency in mind, i.e., we selected GPU, PSU and other components in an cost / energy efficient way. We also reduced electricity costs to a minimum so that we can pay for rent, cooling, maintenance etc. and operate on a margin.

It helps if all team members are dedicated miners with years of experience Smiley

Have a nice day,
  Marco

(Genesis Mining)

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February 15, 2014, 09:21:31 PM
 #4

Well, sure... but at the end of the year, you have a mining rig.  With them, at the end of a year of a contract... you have to buy the contract again.

Not that the prices are bad, but keep that in mind Wink

Is that serious? How do you get those cheap prices? If I build up a rig with say 3 x 280x gpus that have around 3 x 710 KHash/s = 2130 KHash/s I have to pay at least:

100$ Motherboard
3x 500$ 280X GPU
25$ Ram
3 x 30$ Riser Cables
230$ 1000 Watt PSU
----------
Total: 1945 $

 That would effectively be 1945/2130 $/(KHash/s) =  0.9131 $ /(KHash/s). The power consumption of this rig with 3x 280x would be 3*250 W + 100W = 850W (GPUS + Mobo). I live in germany and have to pay at least 25 $/KWh that would mean i would have to pay for this rigs electricity 0.25*0.85*24*31$ = 126.48 $ per month. Effectively this would be a total of 126.48/2130 $/(KHash/s) =0.05938 $/(KHash/s) per month which is nearly double the electricity cost of 0.04$ which you charge.
This would mean for my rig I would have to pay a total of 0.9131 + 12* 0.059 = 1.6211 $/(Khash/s) for one year mining. Compared to your contract that effectively costs 0.99+ 12* 0.04 = 1.47 $/(KHash/s) for one year mining! This is much cheaper plus I don't have to maintain the rig and worry about cooling and noise!

Are my number wrong or is that a pretty damn good offer?

Greetings,
b0n1
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February 16, 2014, 02:17:34 AM
 #5

This is a good deal. And the team looks pretty impressive. Do we have any other pictures of people with more GPUs?
Genesis-Mining (OP)
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February 17, 2014, 12:07:39 AM
 #6

This is a good deal. And the team looks pretty impressive. Do we have any other pictures of people with more GPUs?

Thanks! We have added some pictures of our second mining farm. We hope you enjoy!


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February 19, 2014, 11:20:10 PM
 #7

Not that the prices are bad, but keep that in mind Wink

Hey Firebug24k,

Please check our updated prices again  Grin

Prices start at 79 USD/cent per khash/s!
Details at genesis-mining.com.

Happy mining!

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February 26, 2014, 12:53:54 PM
 #8

Dear users,

if your are interested in our service, but didn't want to sign up for a full paid account yet, we have the right thing for you:

As of now we're offering free testaccounts for everyone. Just contact us at contact@genesis-mining.com and we'll set you up.
The way it works, is that you can test our service for 5 days without any charges and completely risk free. We'll send you your mining results on a daily basis as a statistics overview. If you like what you see, you can sign up and we'll pay out what you've collected with your free account and following.

It's also covered in the new FAQ section at our website http://genesis-mining.com/faq.html
(see below)

Stay tuned, we have lots of exciting things planned for your mining future.

Happy mining!



*********** Genesis-Mining.com FAQ **************

WHAT IS GENESIS MINING?
Genesis Mining is an easy way to purchase scrypt hashpower without having to deal with the hardware (GPUs, PSU) and software configuration. We are a team of mining experts with vast knowledge in the sector specialized in building the most efficient mining rigs which you can rent. We also have experts for cooling and maintaining data centers.


HOW DOES THIS WORK?
It is very easy! As soon as we receive your payment your contract will be added to the database and you will immediately start mining. We guarantee that you will receive the first mining payout max. 24 hours after we have received your payment. No arbitrary delays!


IF IT IS PROFITABLE, THEN WHY ARE YOU NOT MINING YOURSELF?
Besides the fact that we do mine ourselves with the very same hardware that we offer to our clients, our capital is limited. Also while we believe that altcoin mining is highly profitable we do not want to put all our money in one basket.


WHERE IS YOUR MINING FARM LOCATED?
For security concerns we do not disclose the exact location of our mining farms. As of Feb 2014 we operate three farms, that are located in Europe, America and Asia. Electricity and availability of cooling are important (but not the only) criteria.


WHAT COINS DO YOU MINE?
As of Feb 2014 we use multi-pools that mine the most profitable altcoins and automatically convert them to Bitcoins. Multipools we use include: middlecoin and clevermining. Going forward we will allow our users to mine the type of coin they are interested in.


WHAT IS MY EXPECTED RETURN ON INVESTMENT?
CleverMining offers some statistics about the expected returns: http://clevermining.com/profits. According to that data almost all payouts in February were above 0.01 BTC per MH/s. For example, if you would invest as of Feb 1st $1,000 you would rent 1.12 Mhash/s according to our Silver Contract. Your effective daily payout would therefore be 0.01 BTC (electricity costs already deducted). This means you would already have 1 BTC after 100 days of mining!


OK, FINE! HOW CAN I PAY?
We currently accept payments in Bitcoin and via bank transfer. Going forward we will also accept credit card payments.


CAN I TEST YOUR SERVICE FREE OF CHARGE?
Yes, you can! Just let us know the contract amount you are interested in and your Bitcoin payout address. You can then watch your daily mining results grow for up to 7 days completely free of charge. If at any time during your trial period you decide to sign up, we will cash out your Bitcoin!


HOW CAN I REACH YOU IF I HAVE FURTHER QUESTIONS?
Customer support is our highest priority! We know how important it is for a potential investor to clear all his open questions to have a good feeling in the investment. Feel free to contact us any time! email: contact@genesis-mining.com

Genesis-Mining (OP)
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March 02, 2014, 05:14:46 PM
Last edit: March 03, 2014, 12:27:38 AM by Genesis-Mining
 #9

**** Meet us at the Texasbitcoin conference http://texasbitcoinconference.com/ on March 5th to 6th. ****


We'll be waiting for you at booth number 25.

https://bitcointalk.org/index.php?topic=363816.0;all


We're very much looking forward to this.
See you soon!


Genesis-Mining

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March 06, 2014, 11:01:38 PM
 #10

Hey Marco! It was good talking to you and meeting you in person. And thanks for the cookie! Smiley

peppin
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March 09, 2014, 11:15:24 PM
 #11

http://genesis-mining.com/ --- Fraud / Scam !

If Something is too Good to be True, it Probably is !!!!

They are the same guys as mammoth-mining.com !

Don`t use their services ! Why they don`t have any phone number contact ( if they have a large staff ) !? asked them for the phone numbers of the whole staff! you will receive nothing !

Why they take payments only through untraceable payment methods ?!  Because in this way they can hide and your money are gone forever !

If they are legit, I asked them to post here a picture of anyone from the staff in the room of the equipment with a paper in hand with the current date!

They sale money to us ! Why they don`t keep for them !

Please be careful and let`s make something to knock them down, so anyone can`t be scammed by them !
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March 09, 2014, 11:46:29 PM
 #12

Hey Marco! It was good talking to you and meeting you in person. And thanks for the cookie! Smiley





Smiley)))) Good joke !! Wintermute everyone knows that you are the same persons with this scammers !!
Genesis-Mining (OP)
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March 10, 2014, 06:56:59 PM
 #13


[...]

If Something is too Good to be True, it Probably is !!!!

[...]




Peppin, Thanks for your comments.


As the first big player in the market we expected to get feedback ranging from "bit too expensive"  to  "too good to be true".  We are happy to hear that you think that our offer is extremely good -- we fully agree!

* If clients would like to speak with us we are happy to arrange a call (also via skype). Just send us a message and we will arrange something.

* We sell our hashpower because (a) our capital is limited and (b) we do not want to put all our money in one basket (please see our FAQ). We mine ourselves with the very same hardware. The good thing is that altcoin communities benefit from our activity as more hashpower and attention is brought to the altcoin markets (it is good to see the "invisible hand" in action).

* We accept EUR and USD payments, however, we prefer payments in BTC or LTC for now. This is going to change over time as we grow our infrastructure.
* Please find some pictures attached below from our European location (we also have a location in the US and China)

* Our European pool on middlecoin is http://www.middlecoin.com/reports/1BtzFDErNKMMFeCSkho9tK7Cr8eus64x5K.html

We are not using this pool anymore as much as before. Our peak hashrate on the pool was 450 MH/s (we have way more hashpower available, but will not go into the details). To proof that we are in control of the above address we will send 0.01 BTC from this address to 1MjxcdMnR4Uc9ZMaHyMLDLEgcoCcAmMuBF within the next 24 hours after this posting on bitcointalk.

* We have recently been at the Texas Bitcoin Conference - cf. http://texasbitcoinconference.com/exhibitors ; please also have a look at the list of speakers. We will attend the conference in Amsterdam, as well. Anyone, please feel free to drop us a line and we arrange something.


Happy Mining everyone,
   Your Genesis Mining team





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March 10, 2014, 07:40:41 PM
 #14

I have asked for a picture with someone from your staff with this paper in hand !! Not a photoshop picture Smiley)

Ok. I agree with video conference on skype ! Please tell me the id where to contact you guys !
No one from your stuff don`t have any phone number! Send us a phone number to contact !

Why you don`t replied on this question from reddit.com ?

rywalker 1 point 7 days ago
I can't really find Marco Streng or Michael Cao on the internet anywhere — can you provide more links to prove that the people listed on the site are involved in the company, and are real people?
Genesis-Mining (OP)
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March 10, 2014, 09:21:19 PM
 #15

rywalker 1 point 7 days ago
I can't really find Marco Streng or Michael Cao on the internet anywhere — can you provide more links to prove that the people listed on the site are involved in the company, and are real people?

Dear Peppin,

Please have a look at our webpage http://genesis-mining.com - Marco Streng and Michael Cao have links to their linked.in profiles. Also kindly check the list of speakers at the Texas Bitcoin Conference http://texasbitcoinconference.com/speakers. We will very likely be at the Amsterdam Conference, as well, and would be happy to meet you  in person!

One of our partners will reach out to you so we can arrange a skype call.

The above announced transaction is now part of the blockchain:

https://blockchain.info/tx/39318046537272034be6ce414954a06766a8728c952f659b4eacac615ed4e6ee


Happy Mining everyone!
  Your Genesis Mining Team

peppin
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March 10, 2014, 10:03:20 PM
 #16

You really make me laugh ! Smiley Let`s arrange the video skype call!
You gave me a phone number and you said you can be called at any time ! But you don`t answer. When you can answer if you are such a big company ? Smiley

No one from your stuff don`t have a facebook ? to see that they are real people, with friends, family !

You said for 100 times that you was at that conference ! Do you have any picture from there? It is impossible don`t have any picture from there !
Please put here a picture from the conference with you and staff.

Fuck off  scammers !!!

You will not steal our money with this kind of fraud Smiley
peppin
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March 10, 2014, 10:20:39 PM
 #17

Is that serious? How do you get those cheap prices? If I build up a rig with say 3 x 280x gpus that have around 3 x 710 KHash/s = 2130 KHash/s I have to pay at least:

100$ Motherboard
3x 500$ 280X GPU
25$ Ram
3 x 30$ Riser Cables
230$ 1000 Watt PSU
----------
Total: 1945 $

 That would effectively be 1945/2130 $/(KHash/s) =  0.9131 $ /(KHash/s). The power consumption of this rig with 3x 280x would be 3*250 W + 100W = 850W (GPUS + Mobo). I live in germany and have to pay at least 25 $/KWh that would mean i would have to pay for this rigs electricity 0.25*0.85*24*31$ = 126.48 $ per month. Effectively this would be a total of 126.48/2130 $/(KHash/s) =0.05938 $/(KHash/s) per month which is nearly double the electricity cost of 0.04$ which you charge.
This would mean for my rig I would have to pay a total of 0.9131 + 12* 0.059 = 1.6211 $/(Khash/s) for one year mining. Compared to your contract that effectively costs 0.99+ 12* 0.04 = 1.47 $/(KHash/s) for one year mining! This is much cheaper plus I don't have to maintain the rig and worry about cooling and noise!

Are my number wrong or is that a pretty damn good offer?

Greetings,
b0n1
peppin
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March 10, 2014, 10:27:36 PM
 #18

Is that serious? How do you get those cheap prices? If I build up a rig with say 3 x 280x gpus that have around 3 x 710 KHash/s = 2130 KHash/s I have to pay at least:

100$ Motherboard
3x 500$ 280X GPU
25$ Ram
3 x 30$ Riser Cables
230$ 1000 Watt PSU
----------
Total: 1945 $

 That would effectively be 1945/2130 $/(KHash/s) =  0.9131 $ /(KHash/s). The power consumption of this rig with 3x 280x would be 3*250 W + 100W = 850W (GPUS + Mobo). I live in germany and have to pay at least 25 $/KWh that would mean i would have to pay for this rigs electricity 0.25*0.85*24*31$ = 126.48 $ per month. Effectively this would be a total of 126.48/2130 $/(KHash/s) =0.05938 $/(KHash/s) per month which is nearly double the electricity cost of 0.04$ which you charge.
This would mean for my rig I would have to pay a total of 0.9131 + 12* 0.059 = 1.6211 $/(Khash/s) for one year mining. Compared to your contract that effectively costs 0.99+ 12* 0.04 = 1.47 $/(KHash/s) for one year mining! This is much cheaper plus I don't have to maintain the rig and worry about cooling and noise!

Are my number wrong or is that a pretty damn good offer?

Greetings,
b0n1

Your numbers are very correct only that their offer is imaginary. This is too good to be true. In this way they attract the naive people, with the idea to get rich with minimum effort.
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March 11, 2014, 06:17:39 PM
 #19

Dear Peppin!

I am Jakov Dolic, salesmanager of Genesis Mining. I would appreciate if you call me on +49 171 279 33 59.

And please stop the calumny. You are writing things that are absolutely not true. Be aware that this is liable to prosecution.

Best regards,
Jakov Dolic




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March 12, 2014, 05:04:17 AM
Last edit: March 12, 2014, 10:01:57 PM by Genesis-Mining
 #20

We don't only have pictures. There are videos, too. It was a great event!

The first picture is a picture of our booth at the conference.
The other images show our CEO Marco Streng at the conference between Daniel Krawisz, founder of the Satoshi Nakamoto Institute and Luke-JR the lead developer of Bfgminer.

All videofiles of the panel discussion are linked at http://www.texasbitcoinconference.com








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