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Author Topic: Genesis-mining.com || World's leading hashpower provider!  (Read 381977 times)
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Marco Krohn (GM)
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December 11, 2014, 02:44:35 PM
 #2001

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.
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tylerderden
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December 11, 2014, 04:24:01 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.


Hey Marco, yeah i totally get all of the complications involved. Maybe (at first anyway) have it only available on approved pools or something. I know alot of pool owners would do whatever they need to do in order to make sure their pools comply with your system just because they know they can get some decent fees with the amount of hashpower involved. You could maybe make it so the user has to have 24 mhs (or whatever size the actual miner is) almost like gaws hosted miners, in order to be able to take control of it and point it where you want. You would also have to think about the ramifications of pointing a ton of hash at lower difficulty coins as well. However this is the one feature that pretty much everyone that I know is wanting REALLY bad. I would imagine if you guys could pull it off it would be a huge milestone for cloud mining. Your fees are a tough one to find a workable solution for. You would almost need a wallet that people mine to as kind of a middle man so you can extract your fees before they can withdraw or something. You guys are smart so I will leave that for you to figure out LOL! If you can make it happen it would really be the thing that blows all of the competition away.

If you guys do decide to try and do this and you need to bounce ideas off of someone, Wuher (from ipominer, partners with multipool.us) is a really smart dude that might be able to help you solve some of the technical aspects. Anyhow, good luck. There are alot of us waiting on a cloud service to implement this, it would be really cool if it was you guys that can make it happen.
Mike18feb
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December 11, 2014, 05:29:15 PM
 #2003

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...

<||=||>  Rule #1a: Never invest more then you can afford to lose. <||=||>  Rule #1b: Never invest all you can afford to lose. <||=||> 
............. Whenever someone idly claims a scam, a Bitcoin somewhere dies .............
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Seems I deinvested all my btc :(


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December 11, 2014, 11:54:29 PM
 #2004

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
 #2005

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
 #2006

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

Puppet
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December 12, 2014, 08:27:23 AM
 #2007

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)
IanFoxley
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December 12, 2014, 08:59:28 AM
 #2008

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
 #2009

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.

julian071
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December 12, 2014, 10:20:39 AM
 #2010

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
 #2011

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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Seems I deinvested all my btc :(


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December 13, 2014, 08:40:00 AM
 #2012

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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tylerderden
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December 13, 2014, 10:55:16 AM
 #2013

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.
tylerderden
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December 13, 2014, 10:58:24 AM
 #2014

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
 #2015

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
 #2016

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
 #2017

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!


My Genesis Mining promo Code is unavailable Wink
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December 14, 2014, 01:42:40 AM
 #2018

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

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December 14, 2014, 01:00:24 PM
 #2020

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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