IanFoxley
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Activity: 910
Merit: 1000
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May 16, 2014, 09:49:39 AM |
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If you listen to interview 2, which is mentioned on the first post, there is lots of info about where the company wants to go in the future, features they are adding and also a bit about Asics etc.
I found it quite informative.
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Whoever mines the block which ends up containing your transaction will get its fee.
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aasl
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May 16, 2014, 10:12:31 AM |
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Is there any guarantee or protection mechanism to guarantee a constant mining? Anyway, this is a long term contract and user has to pay in advance. Protection or QoS is needed.
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ranlo
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Activity: 1974
Merit: 1007
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May 16, 2014, 03:48:48 PM |
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Is there any guarantee or protection mechanism to guarantee a constant mining? Anyway, this is a long term contract and user has to pay in advance. Protection or QoS is needed.
I'd like to know this as well. Also, it says there are no hidden fees and doesn't ever mention electricity. Does this mean that there are no costs for electric, no management costs, etc.? |
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Genesis-Mining (OP)
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May 16, 2014, 06:06:43 PM |
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Is there any guarantee or protection mechanism to guarantee a constant mining? Anyway, this is a long term contract and user has to pay in advance. Protection or QoS is needed.
I'd like to know this as well. Also, it says there are no hidden fees and doesn't ever mention electricity. Does this mean that there are no costs for electric, no management costs, etc.? Yes, both electricity and maintenance costs are included in the price! Also we paid out 100% uptime and covered hashrate drops with our own farm as a buffer from the beginning of our operation starting at the beginning of this year! |
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ranlo
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Activity: 1974
Merit: 1007
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May 16, 2014, 06:08:26 PM |
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Is there any guarantee or protection mechanism to guarantee a constant mining? Anyway, this is a long term contract and user has to pay in advance. Protection or QoS is needed.
I'd like to know this as well. Also, it says there are no hidden fees and doesn't ever mention electricity. Does this mean that there are no costs for electric, no management costs, etc.? Yes, both electricity and maintenance costs are included in the price! Also we paid out 100% uptime and covered hashrate drops with our own farm as a buffer from the beginning of our operation starting at the beginning of this year! This is an awesome deal then. Thanks for the quick response! |
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aasl
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May 16, 2014, 07:25:17 PM |
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Is there any guarantee or protection mechanism to guarantee a constant mining? Anyway, this is a long term contract and user has to pay in advance. Protection or QoS is needed.
I'd like to know this as well. Also, it says there are no hidden fees and doesn't ever mention electricity. Does this mean that there are no costs for electric, no management costs, etc.? Yes, both electricity and maintenance costs are included in the price! Also we paid out 100% uptime and covered hashrate drops with our own farm as a buffer from the beginning of our operation starting at the beginning of this year! where can I find such guaranteed protections from your terms and conditions? |
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Genesis-Mining (OP)
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May 17, 2014, 12:48:00 AM |
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The team has spent a lot of time to reduce all types of failures and we have invested significant amounts in our infrastructure.
The number of failures we observe is minimal and is quickly detected by our algorithms. In the grand scheme of things costs for compensating failures is negligible.
So in short: there is no guarantee, but just a "best effort". We want to deliver an excellent product to our client and 100% uptime is an important part of it.
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Nathan101
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May 17, 2014, 03:44:51 AM |
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I have found that payment will be made within 24 hours. How can i make my withdraw? What are the procedures?
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Genesis-Mining (OP)
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May 17, 2014, 05:22:49 AM |
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I have found that payment will be made within 24 hours. How can i make my withdraw? What are the procedures?
The procedure is very easy! As soon as we receive your payment you directly start mining! The mined coins will be paid out every day one time to the payout addresses you provide! |
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Nathan101
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May 17, 2014, 02:30:00 PM |
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I have found that payment will be made within 24 hours. How can i make my withdraw? What are the procedures?
The procedure is very easy! As soon as we receive your payment you directly start mining! The mined coins will be paid out every day one time to the payout addresses you provide! Thanks for your information. It seems great offer to me. |
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IanFoxley
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Activity: 910
Merit: 1000
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May 18, 2014, 02:58:27 PM
Last edit: May 18, 2014, 03:20:52 PM by IanFoxley |
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I have had two payments so far, average so far is about 1.4 USD a day in BTC. I think the days will vary but I think 1.4 USD is around 0.13 LTC. Will see what I get with my next payment, later day. You also have to take into account that I am not paying any costs for electricity at home, no heat generated, also I can use my PC for gaming instead of having to use it for mining. |
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marife01
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May 18, 2014, 03:39:27 PM |
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At the moment its best to contact us via email, we are still enhancing the customer service side of our operations.
Prices dropped! Start mining at 0.14usd per Kh/s per year!
Existing customers got compensation hashpower on top - for free!
That will be great if customer service will be excellent. Looking forward for that development.  |
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jdebunt
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Activity: 1596
Merit: 1010
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May 18, 2014, 07:07:18 PM |
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IanFoxley
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Merit: 1000
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May 18, 2014, 07:09:09 PM |
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Thanks for the link and great interview, thanks |
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ranlo
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Activity: 1974
Merit: 1007
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May 18, 2014, 10:27:32 PM |
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Are there any plans to allow custom pools in the future, so that people can mine whatever they want instead of just what you offer?
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aasl
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May 19, 2014, 12:18:43 AM |
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I have had two payments so far, average so far is about 1.4 USD a day in BTC. I think the days will vary but I think 1.4 USD is around 0.13 LTC. Will see what I get with my next payment, later day. You also have to take into account that I am not paying any costs for electricity at home, no heat generated, also I can use my PC for gaming instead of having to use it for mining. Are you using 2MH plan? may I ask how much BTC is paid per day, in total 1.4 or 2.8 USD? If 1.4USD per day per MH, it is equivalent to 100-120GH/s bitcoin miner. Now a 180G bitcoin miner costs around 300-400USD, so if GM is using bitcoin mining and exchange for scrypt coins, then their price is more reasonable. This is just my guess |
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IanFoxley
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Activity: 910
Merit: 1000
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May 19, 2014, 05:46:04 AM |
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I have had two payments so far, average so far is about 1.4 USD a day in BTC. I think the days will vary but I think 1.4 USD is around 0.13 LTC. Will see what I get with my next payment, later day. You also have to take into account that I am not paying any costs for electricity at home, no heat generated, also I can use my PC for gaming instead of having to use it for mining. Are you using 2MH plan? may I ask how much BTC is paid per day, in total 1.4 or 2.8 USD? If 1.4USD per day per MH, it is equivalent to 100-120GH/s bitcoin miner. Now a 180G bitcoin miner costs around 300-400USD, so if GM is using bitcoin mining and exchange for scrypt coins, then their price is more reasonable. This is just my guess I am doing a 1mhash plan which costs 180USD a year. You can set that up by choosing custom when you go to pay. On average over the 3 days I have had 0.003 BTC sent to me. Before I bought this plan I was using an ATI R9 280x graphics card which can now have a rest most of the time. In one of the interviews I heard, they use a multipool, not sure which one for the mining and then convert it to BTC and send it out once a day. That's if you choose the auto option or you can set it up to do dogemining or Ltc mining. I know soon they will be introducing a system where you can choose more types of coins to mine and also thinking about having a pool which is for genesis miners only but will be set up like a multi pool also I think. I am sure someone from Genesis Mining will read this and clarify that. |
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ranlo
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Activity: 1974
Merit: 1007
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May 19, 2014, 05:51:34 AM |
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I have had two payments so far, average so far is about 1.4 USD a day in BTC. I think the days will vary but I think 1.4 USD is around 0.13 LTC. Will see what I get with my next payment, later day. You also have to take into account that I am not paying any costs for electricity at home, no heat generated, also I can use my PC for gaming instead of having to use it for mining. Are you using 2MH plan? may I ask how much BTC is paid per day, in total 1.4 or 2.8 USD? If 1.4USD per day per MH, it is equivalent to 100-120GH/s bitcoin miner. Now a 180G bitcoin miner costs around 300-400USD, so if GM is using bitcoin mining and exchange for scrypt coins, then their price is more reasonable. This is just my guess I am doing a 1mhash plan which costs 180USD a year. You can set that up by choosing custom when you go to pay. On average over the 3 days I have had 0.003 BTC sent to me. Before I bought this plan I was using an ATI R9 280x graphics card which can now have a rest most of the time. That's a pretty awesome deal. That's over 1BTC a year (assuming it remains pretty much constant), or over double what you paid. |
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IanFoxley
Legendary
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Activity: 910
Merit: 1000
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May 19, 2014, 05:57:14 AM |
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I have had two payments so far, average so far is about 1.4 USD a day in BTC. I think the days will vary but I think 1.4 USD is around 0.13 LTC. Will see what I get with my next payment, later day. You also have to take into account that I am not paying any costs for electricity at home, no heat generated, also I can use my PC for gaming instead of having to use it for mining. Are you using 2MH plan? may I ask how much BTC is paid per day, in total 1.4 or 2.8 USD? If 1.4USD per day per MH, it is equivalent to 100-120GH/s bitcoin miner. Now a 180G bitcoin miner costs around 300-400USD, so if GM is using bitcoin mining and exchange for scrypt coins, then their price is more reasonable. This is just my guess I am doing a 1mhash plan which costs 180USD a year. You can set that up by choosing custom when you go to pay. On average over the 3 days I have had 0.003 BTC sent to me. Before I bought this plan I was using an ATI R9 280x graphics card which can now have a rest most of the time. That's a pretty awesome deal. That's over 1BTC a year (assuming it remains pretty much constant), or over double what you paid. Yes and BTC might go up in price again as well or go down a bit more. Also more people will be mining using asics so the difficulty will go up so might mean less money for me each month. In an interview that was posted earlier, a representative of GM did say they were thinking about introducing montly rental soon. That looks quite good to me also. In the interview they did say sometime in the future they would be thinking about people being able to mine other coins other than scrypt. X11 etc. This is because a lot of their infrastructure is GPU based. Would just like to add that if you choose the BTC payment option then instead of paying 180USD a year for 1mhash, at the moment it is 0.4BTC |
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