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Author Topic: Genesis-mining.com || World's leading hashpower provider!  (Read 381932 times)
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Wintermute
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June 01, 2014, 08:13:17 PM
 #141

I would also be much more inclined to increase my investment if GM would make a firm commitment to proportionally increase the hashpower of existing customers if and when you drop the prices for new contracts.  You did exactly that on May 15th, which seems to me a very good way to keep your customers loyal, and if I could be sure that this was company policy, not just a one-off, I would be buying new contracts now.

I imagine that is hard to do for economic reasons. For example, let us say they can sell the hardware at 14 cents, and buy at 10 cents. If you buy a contract they need to buy the hardware, i.e., they make a margin of 4 cents (but need to pay for electricity, maintenance, IT, support etc). So let's say this leaves a profit of 1 cent.

Now six months later, hardware prices drop to 5 cents (just to give an example). They will have to sell contracts for 7 cents by then (because of competition). They simply cannot compensate from their profit to upgrade old users to the new prices (at least to the same extent). However, old users were already mining for 6 months under lower difficulty, so they are partially compensated.

Mining is a risky game. Basically it is a bet on difficulty and price. If I have another 1000 Euro to invest I would again invest them in mining. Is it a safe bet? No, for sure not. It is a risky game that you have to enjoy. But so is buying BTC (if you bought at 1000$ you know what I mean Wink. In any case it is fun to mine different coins and to support the altcoin universe.
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June 01, 2014, 11:38:58 PM
 #142

I would also be much more inclined to increase my investment if GM would make a firm commitment to proportionally increase the hashpower of existing customers if and when you drop the prices for new contracts.  You did exactly that on May 15th, which seems to me a very good way to keep your customers loyal, and if I could be sure that this was company policy, not just a one-off, I would be buying new contracts now.

I imagine that is hard to do for economic reasons. For example, let us say they can sell the hardware at 14 cents, and buy at 10 cents. If you buy a contract they need to buy the hardware, i.e., they make a margin of 4 cents (but need to pay for electricity, maintenance, IT, support etc). So let's say this leaves a profit of 1 cent.

Now six months later, hardware prices drop to 5 cents (just to give an example). They will have to sell contracts for 7 cents by then (because of competition). They simply cannot compensate from their profit to upgrade old users to the new prices (at least to the same extent). However, old users were already mining for 6 months under lower difficulty, so they are partially compensated.

Mining is a risky game. Basically it is a bet on difficulty and price. If I have another 1000 Euro to invest I would again invest them in mining. Is it a safe bet? No, for sure not. It is a risky game that you have to enjoy. But so is buying BTC (if you bought at 1000$ you know what I mean Wink. In any case it is fun to mine different coins and to support the altcoin universe.

bitcoin and altcoins are not stable yet. it is still a high-risk business.

BTC: 1DREAMcn1ELY1cSnNwrjRazGqfW1NyvLJu    DigitalOcean Reg: https://www.digitalocean.com/?refcode=bd7f576a880a
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June 02, 2014, 02:15:14 AM
 #143

I would also be much more inclined to increase my investment if GM would make a firm commitment to proportionally increase the hashpower of existing customers if and when you drop the prices for new contracts.  You did exactly that on May 15th, which seems to me a very good way to keep your customers loyal, and if I could be sure that this was company policy, not just a one-off, I would be buying new contracts now.

I imagine that is hard to do for economic reasons. For example, let us say they can sell the hardware at 14 cents, and buy at 10 cents. If you buy a contract they need to buy the hardware, i.e., they make a margin of 4 cents (but need to pay for electricity, maintenance, IT, support etc). So let's say this leaves a profit of 1 cent.

Now six months later, hardware prices drop to 5 cents (just to give an example). They will have to sell contracts for 7 cents by then (because of competition). They simply cannot compensate from their profit to upgrade old users to the new prices (at least to the same extent). However, old users were already mining for 6 months under lower difficulty, so they are partially compensated.

Mining is a risky game. Basically it is a bet on difficulty and price. If I have another 1000 Euro to invest I would again invest them in mining. Is it a safe bet? No, for sure not. It is a risky game that you have to enjoy. But so is buying BTC (if you bought at 1000$ you know what I mean Wink. In any case it is fun to mine different coins and to support the altcoin universe.

bitcoin and altcoins are not stable yet. it is still a high-risk business.

As long as they continue offering more coins to choose from (and their multipool) I think it's a more safe bet than BTC mining though. It's still risky, but not nearly as much.


 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




















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June 02, 2014, 05:26:28 AM
 #144

Don't forget that the Mega Promotion is still running.

Just enter MEGA in the "Promo Code?" text box when ordering some hashpower from Genesis-Mining and you will get a discount.

Now is a good time to buy.

Promotion ends soon, so get some Hashpower now Smiley .....

Also don't forget you can customise how much hashpower you want.

Select Custom from the drop down box and enter in how much you want in multiples of 1 MH/S
So if you want 5 MH/S, select Custom and type in 5.

Minimum you can have is 1 MH/S

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June 02, 2014, 10:15:48 AM
 #145

I would also be much more inclined to increase my investment if GM would make a firm commitment to proportionally increase the hashpower of existing customers if and when you drop the prices for new contracts.  You did exactly that on May 15th, which seems to me a very good way to keep your customers loyal, and if I could be sure that this was company policy, not just a one-off, I would be buying new contracts now.

I imagine that is hard to do for economic reasons. For example, let us say they can sell the hardware at 14 cents, and buy at 10 cents. If you buy a contract they need to buy the hardware, i.e., they make a margin of 4 cents (but need to pay for electricity, maintenance, IT, support etc). So let's say this leaves a profit of 1 cent.

Now six months later, hardware prices drop to 5 cents (just to give an example). They will have to sell contracts for 7 cents by then (because of competition). They simply cannot compensate from their profit to upgrade old users to the new prices (at least to the same extent). However, old users were already mining for 6 months under lower difficulty, so they are partially compensated.

Mining is a risky game. Basically it is a bet on difficulty and price. If I have another 1000 Euro to invest I would again invest them in mining. Is it a safe bet? No, for sure not. It is a risky game that you have to enjoy. But so is buying BTC (if you bought at 1000$ you know what I mean Wink. In any case it is fun to mine different coins and to support the altcoin universe.

bitcoin and altcoins are not stable yet. it is still a high-risk business.

As long as they continue offering more coins to choose from (and their multipool) I think it's a more safe bet than BTC mining though. It's still risky, but not nearly as much.


I totally agree with this! I have tested several cloud mining providers and also ordered lots of mining hardware and I have to say that if you take the bet on mining you are at the right address with GM. They are currently outperforming every other pure bitcoin cloud mining service with their AUTO(BTC) functionality and additionally let you mine various coins and open up the opportunity to take different bets on altcoins as well!
I think everbody will go crazy when they are adding DRK to their systems! There is a lot of buzz going on about this in the forums at the moment! Smiley
Hope they are not raising the prices afterwards!
Any comments on this?

Genesis-Mining
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June 02, 2014, 10:45:30 AM
 #146

@Bonobo: Thank you for the effort of those huge tables and graphs. We think the scrypt-btc conversion rate will not fall forever, though we have no fancy graph for it. If we could predict the prices accurately - we already would be at our own islands in the carribean Wink But honestly, we do believe in strong scrypt coin prices in the future and good chances within the mining models, we would not be running this company if we didn't believe its giving back value and profit to also our customers!
I hope you are right.  My point is that, with the current rate of returns at an annual rate which would more than double the initial investment, it is tempting to let greed get the better of caution.  It is now clear to me that making a profit from mining, even with a good, honest service like Genesis Mining, is by no means a certainty.  I was about to double my investment until I crunched the numbers, but now I will hold back and see what happens for at least a month or two.  If the current down-trend in returns is short lived I will be back for more.  I would also be much more inclined to increase my investment if GM would make a firm commitment to proportionally increase the hashpower of existing customers if and when you drop the prices for new contracts.  You did exactly that on May 15th, which seems to me a very good way to keep your customers loyal, and if I could be sure that this was company policy, not just a one-off, I would be buying new contracts now.


Well, most important is the part "It is now clear to me that making a profit from mining, even with a good, honest service like Genesis Mining, is by no means a certainty"
We cannot guarantee the rate of return per M/hs per day at any point. As stated, it is simply impossible to say today what the coin prices will be like in a week or even tomorrow.‏

We DO guarantee stable hashpower and daily payouts along all our features we already implemented and will implement in the future.‏

In clear words:
Mining is gambling as all Investments and especially Investments related to bitcoin! You make a high risk bet with high expected returns, but no one can guarantee them. If you are looking for riskless profit, we cannot deliver. (And nobody can!)

If you want the most profitable mining contract right now, and expect reasonable coin prices, welcome, we are happy to have you as our customer!




Asides we take the chance to announce our upcoming affiliate program:

We will pick some of our satisfied and happy customers and also some of the people who are actively posting here and are engaged in Genesis Mining for longer time to create personalized promo codes for them!
If you win somebody to buy a contract with us using this personalized code, this will grant you 3% additional hashpower as well as 3% rebate on contracts for the customer you won!

This will be implemented within the next days! Stay tuned for that!

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June 02, 2014, 03:52:16 PM
 #147

No, it's not AnonCoin Smiley
For now, it's secret, but it will be great Wink

Awesome news out there:
We are BEST RATED at https://cloudmining.guru/wp/

I go through your link. Congratulation, you are at top with 7.2 rating. I have found that your price and profitability is 7 out of 10. It seems quite good.

Yes, good to see the rating for them is that high. Cheesy

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June 02, 2014, 04:10:20 PM
 #148

No, it's not AnonCoin Smiley
For now, it's secret, but it will be great Wink

Awesome news out there:
We are BEST RATED at https://cloudmining.guru/wp/

I go through your link. Congratulation, you are at top with 7.2 rating. I have found that your price and profitability is 7 out of 10. It seems quite good.

Yes, good to see the rating for them is that high. Cheesy

I would have rated them higher to be honest.

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June 02, 2014, 05:16:32 PM
 #149

..."upcoming affiliate program" ... this sounds interesting. I sure gonna make use of it so maybe I can get some more hashpower for free Cheesy

Get a 3% discount on all new contracts @ Genesis Mining with promo code : 05PaSf
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June 03, 2014, 09:08:07 AM
 #150

..."upcoming affiliate program" ... this sounds interesting. I sure gonna make use of it so maybe I can get some more hashpower for free Cheesy
Where have you found it?  If they really going to start such kind of program that would be interesting?

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June 03, 2014, 12:19:19 PM
 #151

..."upcoming affiliate program" ... this sounds interesting. I sure gonna make use of it so maybe I can get some more hashpower for free Cheesy
Where have you found it?  If they really going to start such kind of program that would be interesting?

It is just a few posts up. It will be only for a select amount of people as well.

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June 03, 2014, 01:30:24 PM
 #152

Just a FYI.

Those that have an account with GM, if you log in today, you will notice that you can now allocate some hashpower, if you want, to Megacoin.



You are fast Smiley

Yes, we have added MEGACOIN (MEC) today after the successful first user poll!

To celebrate the happening we opened a promotion!

You can now use the promotion code "MEGA" in your orders to get Diamond price (14c / kh/s) on all packages!
Simply use it in the order form to get the discount!

Just in time for the bday of Megacoin. Cheesy

Mining Megacoin as profitable as mining BTC? Thanks.

If you go to, for example, Coinwarz.com and check out the mining calculator for Megacoin, you can enter in your hashrates, don't forget to put zero in, for power cost, as with GM, you have already paid upfront for that in your contract and then you can easily work out, with current difficulty etc, what your profits might be, although of course, these can change over time as difficulty can go up and down.

I will include the link for you, to make it a little easier.

http://www.coinwarz.com/calculators/megacoin-mining-calculator

Thanks for sharing the link. Although Megacoin is not icluded on the list of most profitable coins to mine, it is still nice to know possible returns with this coin.
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June 03, 2014, 02:51:43 PM
 #153

Well I just came across Genesis-Mining while looking something up. It sounds very reasonable so after setting up my account and using code MEGA to score the best rate. Within minutes I was up and running it took a few minutes extra because of the BTC transaction confirmation. So here we go hashing with Genesis-Mining I'll post back my experience if anyone else is on the fence about doing it.

      ░▓██████████████░
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 ██    ██▒░░░▒▒ ░░▒▒▓█▒  ██     ▒█▓    ██  ██   ▒█▒ ▓█░   █▓  ██   ██  ██▓    ██▓  ███   ███  ███  ▓██   ██▓  ███   ███
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  ██ ░██▓▒▒░░░▒▒▒▒░░░█░ ██      ██    ██░ ▒█▓░▒░░  ░█▓░▒░░░  ▓█░  ▒█▒  ██▓    ██▓  ███  ░███  ███  ▓██   ███  ███  ░███
   ██  █▓██▓▒▒▒▒░▒▒▓█▒ ██      ▒█▓   ░██  ██       ▓█░       ██   ██   ███   ▒██▒  ███  ░███  ███  ▓██   ██▓  ███  ░███
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     ██░       ░    ░██        ██████▓    ▒█████   ░█████░  ▓█████▓     ▒█████▓    ███  ░███  ███   ▒█████▒   ███  ░███
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IanFoxley
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June 03, 2014, 03:07:36 PM
 #154

Well I just came across Genesis-Mining while looking something up. It sounds very reasonable so after setting up my account and using code MEGA to score the best rate. Within minutes I was up and running it took a few minutes extra because of the BTC transaction confirmation. So here we go hashing with Genesis-Mining I'll post back my experience if anyone else is on the fence about doing it.

Welcome and look forward to reading your experiences Smiley

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June 04, 2014, 10:06:13 AM
 #155

Well I just came across Genesis-Mining while looking something up. It sounds very reasonable so after setting up my account and using code MEGA to score the best rate. Within minutes I was up and running it took a few minutes extra because of the BTC transaction confirmation. So here we go hashing with Genesis-Mining I'll post back my experience if anyone else is on the fence about doing it.
It seems great news. I hope you will make profit with them. I a lot of people are making profit with them. I am also making profit with them. I hope soon you will also be able to share your success story.
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June 04, 2014, 10:11:12 AM
 #156

Well I just came across Genesis-Mining while looking something up. It sounds very reasonable so after setting up my account and using code MEGA to score the best rate. Within minutes I was up and running it took a few minutes extra because of the BTC transaction confirmation. So here we go hashing with Genesis-Mining I'll post back my experience if anyone else is on the fence about doing it.
It seems great news. I hope you will make profit with them. I a lot of people are making profit with them. I am also making profit with them. I hope soon you will also be able to share your success story.

This is becoming, quite the little social group now.

So any idea what the next coin will be on the list?

I am hoping that it might be Darkcoin, but that is X11 algo and not Scrypt. Hmm

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June 04, 2014, 11:17:51 AM
 #157

100 % the next coin is darkcoin  Kiss
Im a genesis member the service is good the profit too, en trusted peopel (hope fore a long time  Grin ).
But i have a probléme with the year contract, after a year you loose your investment,ok you have you ROI back en plus the profit but you loose you investment  Undecided.
The difference in script.cc you loose nothing you hold you investment + you profite en the ROI  Kiss no mather if the price of you khs is dumping to sell you have always you khs...

I have make mi choose, but genesis mining is niew en im a trusted member.

sorry fore mi badly english  Kiss

Genesis Mining --> ST_DISCOUNT --< 3 % promo code.
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June 04, 2014, 02:15:00 PM
 #158


But i have a probléme with the year contract, after a year you loose your investment,ok you have you ROI back en plus the profit but you loose you investment  Undecided.
The difference in script.cc you loose nothing you hold you investment + you profite en the ROI  Kiss no mather if the price of you khs is dumping to sell you have always you khs...

I wrote about it:

https://bitcointalk.org/index.php?topic=444495.msg7015493#msg7015493

The short story is that the scrypt.cc contract is way more expensive and the residual value of the contract is likely not worth it.


Example: GM is like renting a car for 100 USD for 10 years. Scrypt.cc allows you to have the rental contract forever and the contract is 200 USD. This basically comes down to the question whether you believe that your car is worth 100$ after one year (probably it won't).

Result: if the difficulty of scrypt hash rate will double (or more) over the next 12 months  it is far better to go with GM. This is a mathematical truth.

Decision tree:
1) do I believe that the hashrate will be twice as high (or higher) in one year from now ==> Genesis Mining
2) Scrypt.cc

I analyzed the change of hashrate over time and the market. It will not grow as fast as Bitcoin difficulty, but it is very likely that it will grow by way more than factor of two. That's why I bought a package at GM (and btw: I love their interface!).

Hope this helps!
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June 04, 2014, 02:50:08 PM
 #159

Example: GM is like renting a car for 100 USD for 10 years. Scrypt.cc allows you to have the rental contract forever and the contract is 200 USD. This basically comes down to the question whether you believe that your car is worth 100$ after one year (probably it won't).

Ok but witch scrypt, i have my 200 en de cars after  Grin plus the profit i hade genarated i can pimp mi cars when i will  Kiss

Genesis Mining --> ST_DISCOUNT --< 3 % promo code.
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June 04, 2014, 04:11:46 PM
 #160

..."upcoming affiliate program" ... this sounds interesting. I sure gonna make use of it so maybe I can get some more hashpower for free Cheesy

Definitely looking forward for this!  Cool
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