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Author Topic: Genesis-mining.com || World's leading hashpower provider!  (Read 385413 times)
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Mike18feb
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December 11, 2014, 05:29:15 PM
 #2001

Well, you can rent out an entire machine. There are quite some people, or communities!, willing to go for the big hashrate, and they don't scare easily because of difficult interfaces and settings, or even failed pools  or connections. No need to change the regular interface then for regular people, and maybe just add another?

Just a quick thought...

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December 11, 2014, 11:54:29 PM
 #2002

X11 isnt profitable at all right now so thats probly why we havent heard anything from genesis about it. I really wish they would just let us mine at our own pools with our hash. I would buy more and not even bitch about the payouts if they would do that, the first cloud company to make that happen will make alot of money.

Agree. Killer feature.

We like the idea, though there are a few things that need to be considered:

1) we want to keep a simple user interface and not confuse other miners; this can be solved for sure, but needs to be done carefully
2) the hashrate can only be sent on an average basis. For example, if a user wants to point 1 MH/s to a pool and our smallest miner is 24 MH/s then we would have to point 24 MH/s to this pool for one hour. This is not ideal.
3) if the pool is crappy, or there are some technical problems we would see high reject rates and unhappy faces.

Probably we would require that mining on your own pool happens at least for 24 hours. Furthermore, we would probably require that the maintenance fee is paid from the user balance. In turn the hashrate would be fully used for mining coins.

Technically, it can be done for sure in a reasonable time frame. This would be an advanced feature which only experienced users should use.

Please let me know if you have any comments.


Well I got an GAWsome plan..
Mirror what a x amount of hashrate on Y pool would earn and pay us that way and not even move your miners..

Icon

PS

Hey it worked for GAW  Smiley

 
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December 11, 2014, 11:57:07 PM
 #2003

X11 isnt profitable at all right now so thats probly why we havent heard anything from genesis about it. I really wish they would just let us mine at our own pools with our hash. I would buy more and not even bitch about the payouts if they would do that, the first cloud company to make that happen will make alot of money.

Agree. Killer feature.

We like the idea, though there are a few things that need to be considered:

1) we want to keep a simple user interface and not confuse other miners; this can be solved for sure, but needs to be done carefully
2) the hashrate can only be sent on an average basis. For example, if a user wants to point 1 MH/s to a pool and our smallest miner is 24 MH/s then we would have to point 24 MH/s to this pool for one hour. This is not ideal.
3) if the pool is crappy, or there are some technical problems we would see high reject rates and unhappy faces.

Probably we would require that mining on your own pool happens at least for 24 hours. Furthermore, we would probably require that the maintenance fee is paid from the user balance. In turn the hashrate would be fully used for mining coins.

Technically, it can be done for sure in a reasonable time frame. This would be an advanced feature which only experienced users should use.

Please let me know if you have any comments.


Well I got an GAWsome plan..
Mirror what a x amount of hashrate on Y pool would earn and pay us that way and not even move your miners..

Icon

PS

Hey it worked for GAW  Smiley

 

Thanks for trolling by
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December 12, 2014, 08:25:27 AM
 #2004

Has anyone calculated ROI with these new prices and fees? What does it come to, 8 months?

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December 12, 2014, 08:27:23 AM
 #2005

In order to accurately rate genesis-mining for the 101 list in my signature, Id like some answers to a few questions. If anyone could help answer these, mostly for SHA:

- there a public mining address, and/or can customers direct their hashrate to their own pool?
- Has any asic vendor endorsed genesis mining and confirmed they are a substantial customer of theirs?
- Have pictures or video's been published of their datacenter ?
- Is there a way to compare sold hashrate vs (provably deployed) hashrate to ensure there is no fractional reserve mining going on?
- Are there referral programs, and if so, whats their yield?

Thx

(edit duh, just realized I posted this in alt coin section. Oh well)
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December 12, 2014, 08:59:28 AM
 #2006

In order to accurately rate genesis-mining for the 101 list in my signature, Id like some answers to a few questions. If anyone could help answer these, mostly for SHA:

- there a public mining address, and/or can customers direct their hashrate to their own pool?
- Has any asic vendor endorsed genesis mining and confirmed they are a substantial customer of theirs?
- Have pictures or video's been published of their datacenter ?
- Is there a way to compare sold hashrate vs (provably deployed) hashrate to ensure there is no fractional reserve mining going on?
- Are there referral programs, and if so, whats their yield?

Thx

(edit duh, just realized I posted this in alt coin section. Oh well)


Miners can not mine at their own pools.
Theres lots of pictures of their farms, just look in this thread for example or their Facebook pages or Twitter..Lots of pictures. There are images around of their huge GPU farms from earlier in the year on some threads for example

There are referral programmes. Users get a code they can give out, like mine in the signature or there are referral links people can use.

I am sure GM will respond to some of those other questions

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December 12, 2014, 09:01:28 AM
 #2007

Has anyone calculated ROI with these new prices and fees? What does it come to, 8 months?

As you know I am doing comparisons, on Day 88 at the moment but that is based on a contract that cost 17.99 for 1MH/s and has a daily fee of 0.05 USD per MH/s

So the payouts will probably vary a little bit due to the lower fee but I think 8 months might be quite hard to achieve considering I am just over 50 % now and I started 3 months ago when payouts were a lot higher compared to what they are now.

If I had more time or money could probably start a new comparison video from today comparing them all over but I am worried I would never get my money back, I know I would eventually with GM but with Hashlets from GAW mainly paying out 1 satoshi a day at the moment, Zen excluded but still pretty low,  I think the Sun would have burnt out by the time I get ROI haha, infact universe could have as well.

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December 12, 2014, 10:20:39 AM
 #2008

Mining alternate altcoins at other pools would be absolutely fantastic!

Considering the large amounts of hashing power you would have to move, an alternative way of offering this service could be to offer it to communities as a whole. For example, I would love to point my MH to NLG, together with the other Dutch ppl in my community. It might be a little more complex to figure out how to implement and might require GM to have a 'community manager' (like big websites with forums have), but I think there are big advantages:
- First in cloud mining scene
- Good for coins that are starting up
- Good link between 'central' business and decentral community of people
- Very good advertisement for GM, I'm sure those communities would be very grateful (as would the NLG community be).

=P
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December 12, 2014, 01:06:32 PM
 #2009

Marco Streng talking about Mining and its future perspectives at the Bitcoin South conference in Queenstown, New Zealand:

http://bravenewcoin.com/news/marco-streng-at-bitcoin-south-bitcoin-mining-and-the-future/


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December 13, 2014, 08:40:00 AM
 #2010

Well I got a request.. how about adding a total in btc mined? I can see how much i paid for my contracts and you already show how much $$ was paid out; but  seeing the price btc changes daily a nice total btc amount or altcoin to btc price would be REALLY nice Smiley

Thanks

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December 13, 2014, 10:55:16 AM
 #2011

X11 isnt profitable at all right now so thats probly why we havent heard anything from genesis about it. I really wish they would just let us mine at our own pools with our hash. I would buy more and not even bitch about the payouts if they would do that, the first cloud company to make that happen will make alot of money.

Agree. Killer feature.

We like the idea, though there are a few things that need to be considered:

1) we want to keep a simple user interface and not confuse other miners; this can be solved for sure, but needs to be done carefully
2) the hashrate can only be sent on an average basis. For example, if a user wants to point 1 MH/s to a pool and our smallest miner is 24 MH/s then we would have to point 24 MH/s to this pool for one hour. This is not ideal.
3) if the pool is crappy, or there are some technical problems we would see high reject rates and unhappy faces.

Probably we would require that mining on your own pool happens at least for 24 hours. Furthermore, we would probably require that the maintenance fee is paid from the user balance. In turn the hashrate would be fully used for mining coins.

Technically, it can be done for sure in a reasonable time frame. This would be an advanced feature which only experienced users should use.

Please let me know if you have any comments.


Well I got an GAWsome plan..
Mirror what a x amount of hashrate on Y pool would earn and pay us that way and not even move your miners..

Icon

PS

Hey it worked for GAW  Smiley

 

yeah defeats the purpose though man.


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December 13, 2014, 10:58:24 AM
 #2012

Has anyone calculated ROI with these new prices and fees? What does it come to, 8 months?

As you know I am doing comparisons, on Day 88 at the moment but that is based on a contract that cost 17.99 for 1MH/s and has a daily fee of 0.05 USD per MH/s

So the payouts will probably vary a little bit due to the lower fee but I think 8 months might be quite hard to achieve considering I am just over 50 % now and I started 3 months ago when payouts were a lot higher compared to what they are now.

If I had more time or money could probably start a new comparison video from today comparing them all over but I am worried I would never get my money back, I know I would eventually with GM but with Hashlets from GAW mainly paying out 1 satoshi a day at the moment, Zen excluded but still pretty low,  I think the Sun would have burnt out by the time I get ROI haha, infact universe could have as well.

again problem solved IF we can mine at whatever pool we want. ROI is easy if you can make your own decisions (and you know what your doing) if we could mine anywhere people would be begging to buy more hashpower.


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December 13, 2014, 03:12:00 PM
 #2013

It really would be nice to be able to point at our own pool...
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December 13, 2014, 04:37:16 PM
 #2014

X11 isnt profitable at all right now so thats probly why we havent heard anything from genesis about it.

I lol because nothing's profitable at Genesis right now.

With their current offer 10$ per MH : ROI 500 days lol

Keep your money.
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December 13, 2014, 08:53:12 PM
 #2015

Creuz - your perception seems to be very optimstic ^^

I am very disappointed, even if i was a richkid id surely not invest again...

the day will come when fees eat up the whole payout. and then ?

Save ur money!

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December 14, 2014, 01:42:40 AM
 #2016

Finally the trolls got out of their caves and show up here  Grin
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December 14, 2014, 07:04:30 AM
 #2017

Finally the trolls got out of their caves and show up here  Grin

Well, the trolls speak the truth. What s the point of this thread if only Genesis Mining makes money? To help them make more money and we all end never reaching ROI?

Could Marko Streng please comment on any, I really mean any way of how to reach ROI using Genesis Mining services? Any scenario would suffice.

Thx

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December 14, 2014, 01:00:24 PM
 #2018

Why Genesis Mining has such a shity plot on dashboard? Shittiest plot I've ever seen. Do you guys know about fractional numbers?

.
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December 14, 2014, 03:37:04 PM
 #2019

Finally the trolls got out of their caves and show up here  Grin

Well, the trolls speak the truth. What s the point of this thread if only Genesis Mining makes money? To help them make more money and we all end never reaching ROI?

Could Marko Streng please comment on any, I really mean any way of how to reach ROI using Genesis Mining services? Any scenario would suffice.

Thx


I invested like 3 months ago, and have got a lovely part of what I invested back... Several more monthes and I'll have ROI for sure... I don't know why you all are crying.

And, unlike PB mining scam-ponzi, here you have pictures of the farms, which is a good guarantee. I think GM team is doing a great job...

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December 14, 2014, 04:36:35 PM
 #2020

Measure a service by whether they deliver what they have promised. In case of GM they did so far exactly what I have expected from them (actually better because they reduced their maintenance fees quite a bit and used a lower rate as well before).

Do not blame anyone else for your own investment decision. It is like buying gold and complaining two months later that the gold price has dropped. Bad luck, you know it was risky. Same for mining (at home / or cloud mining does not matter). Analyze the risk, take your decision, but do not blame the service provider (or hardware manufacturer if you are a home miner) as long as the service was delivered.

@yvv: I agree the dashboard is crappy.
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