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Author Topic: Genesis-mining.com || World's leading hashpower provider!  (Read 381980 times)
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galdur
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March 07, 2015, 10:29:25 PM
 #2641

Well, I didn´t add any hash yet. Sure, the price is getting more attractive with the rising BTC price but the payouts aren´t really anything to write home about.

Now; outlay just over .00170000/GH, current daily payout .00000497.

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Zeta0S
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March 08, 2015, 06:35:56 AM
 #2642

Good payout today Smiley

Get a HUGE 3% discount with promo code: MOON @ Genesis Mining
https://www.genesis-mining.com
galdur
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March 08, 2015, 06:51:31 AM
 #2643

Good payout today Smiley

So, why is the payout falling you think ? With the BTC stable to rising it´s difficult to understand the 10%+ drop since mining day 4th March.

IanFoxley
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March 08, 2015, 07:12:06 AM
 #2644

Good payout today Smiley

So, why is the payout falling you think ? With the BTC stable to rising it´s difficult to understand the 10%+ drop since mining day 4th March.

Well do not forget they are mining it, so perhaps where they are mining it is not doing so well with finding blocks at the moment...Not sure really.

Theres another difficulty rise coming so payouts will go down a little more too, well unless you put more hashpower in...

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March 08, 2015, 07:27:56 AM
 #2645

Good payout today Smiley

So, why is the payout falling you think ? With the BTC stable to rising it´s difficult to understand the 10%+ drop since mining day 4th March.

Well do not forget they are mining it, so perhaps where they are mining it is not doing so well with finding blocks at the moment...Not sure really.

Theres another difficulty rise coming so payouts will go down a little more too, well unless you put more hashpower in...


Some tough luck. BTC is up by 15% since 2/19, payout down 16%. That´s down 100 satoshi per GH, 600 to 500. Where´s the guy that´s investing hundreds of thousands of dollars ? Would love to see his take on this.

flyingplows
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March 08, 2015, 08:47:09 AM
 #2646

 Smiley when will genesis-mining start to sell x11 ? any news on that? they promise it since... dont even remember since when it says ''soon'' on acc dashboard.
i remember them mentioning they have a farm of video cards or smth, so guess they ARE mining x11, it would be a waist to just keep it unoperational, and they showed an intent to sell that hashpower, so why they dont  Huh Roll Eyes

p.s. oh they changed it to show 0 instead of soon, quite a progress, but still...

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March 08, 2015, 02:09:03 PM
 #2647

There are dns problem with the website.

Only the blog is reachable.

***Edit***
i succeed to reach the website passing 10 minutes
Zeta0S
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March 08, 2015, 05:56:03 PM
 #2648

Bitcoin Difficulty:    46,684,376,317
Estimated Next Difficulty:    47,407,755,950 (+1.55%)
Adjust time:    After 5 Blocks, About 48.8 minutes
Hashrate(?):    340,540,135 GH/s



Get a HUGE 3% discount with promo code: MOON @ Genesis Mining
https://www.genesis-mining.com
netmonk
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March 09, 2015, 11:02:36 AM
 #2649

I would like to ask a question to customer: How can it be profitable ?

I was looking for a 15th/s which cost $6400 and $0.0015/gh/s a day.
So basically we have 6400$+ 12x657$ for one year : $14500 a year.

So if i use coinwars calculator http://www.coinwarz.com/calculators/bitcoin-mining-calculator/?h=15000&p=0&pc=0&pf=0.00&d=47427554950.64830000&r=25.00000000&er=288.01000000&hc=6400
With constant diff and constant current price of btc/usd it would generate 16720$ a year which mean only 2220$ of profit a year.

So it would take 3 years to just return on the setup fee (6400$).

But this calculator is wrong because difficulty is raising with time, and generated btc is lowering with time for constant hashrate.

if i use https://bitcoinwisdom.com/bitcoin/calculator with a 20% raise of difficulty, it's never profitable.

So what am i missing here ? and what can make it profitable ?

 
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March 09, 2015, 12:18:27 PM
 #2650

I would like to ask a question to customer: How can it be profitable ?

I was looking for a 15th/s which cost $6400 and $0.0015/gh/s a day.
So basically we have 6400$+ 12x657$ for one year : $14500 a year.

So if i use coinwars calculator http://www.coinwarz.com/calculators/bitcoin-mining-calculator/?h=15000&p=0&pc=0&pf=0.00&d=47427554950.64830000&r=25.00000000&er=288.01000000&hc=6400
With constant diff and constant current price of btc/usd it would generate 16720$ a year which mean only 2220$ of profit a year.

So it would take 3 years to just return on the setup fee (6400$).

But this calculator is wrong because difficulty is raising with time, and generated btc is lowering with time for constant hashrate.

if i use https://bitcoinwisdom.com/bitcoin/calculator with a 20% raise of difficulty, it's never profitable.

So what am i missing here ? and what can make it profitable ?

 

there are several factors, luck is one of them as stated before, i bolded the part of the external factor could be one that will either increase or decrease your earning

wow, my payout now increased from 6k to 14 k

this look like GM on recovery...cmon Gm i know you can do it...lol
Awwww, why GM on recovery? The quality of our service has never changed. The amount of payout depends a lot on external factors such as Bitcoin value, difficulty, luck, etcetera. Obviously we do not have control over those. But we do have control over the mining part, and we do a very good job at that, which is the service we offer. You know we can do it because we have been doing it. Always.

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fairglu
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March 09, 2015, 12:57:16 PM
 #2651

So what am i missing here ? and what can make it profitable ?

Both a rise in BTC/USD exchange rate and a gradual lowering of the daily fee (ie. improved hardware efficiency passed on to customers) could make it profitable.

But a rise in BTC/USD rate would likely make buying BTC directly more profitable in a shorter term, with less risks (if BTC value halves, you will be able to sell it for half if you bought directly, but mining contracts will be worth nothing).

So yes, mining is a tough proposition. It's more a support of the industry and its infrastructure at this point.

netmonk
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March 09, 2015, 01:24:42 PM
 #2652

I also see a point for b2b.

What i mean is that for a owner of company living in a high tax country, buying mining service with his company and getting btc back to his own wallet is a way to evade some money from his company without having to pay tax he would in normal salary process.

But investing 14000$ for a benefit of 2400$ at the end is a very low return.

flyingplows
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March 09, 2015, 09:13:52 PM
 #2653

I also see a point for b2b.

What i mean is that for a owner of company living in a high tax country, buying mining service with his company and getting btc back to his own wallet is a way to evade some money from his company without having to pay tax he would in normal salary process.

But investing 14000$ for a benefit of 2400$ at the end is a very low return.



i agree the profit is low, thats why i dont invest anymore here, but maybe when they open x11 mining things will change, but no news on that for a very long time (well for a long time in crypto at least..). another way how you can increase (or decrease Grin) your roi is to keep assigning mining power to different coins and mine the most profitable coin at that moment, but then again they themselves do this as i understant and you could hardly beat them by decision making on what is profitable Smiley either way if they want my money that need to do x11 asap or lower the price significantly.. if they expect us to base our investments on a hope that btc price will increase, we can just better buy the coins and hold.. Smiley

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March 10, 2015, 08:25:36 AM
 #2654

just bought new contract small but at least i can save some btc from gambling..lol

slow but not gone in instant was my goal,,hope payout can improve

<a href="http://www.freebiebitcoin.com">Earn free bitcoin</a>
Minimaxa
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March 10, 2015, 10:54:22 AM
 #2655

So when is scrypt mining going to be reactivated? never...

And what is happening with all that scrypt hardware everyone payed for? collecting dust or has it been sold off...

Bitter still? maybe...
IanFoxley
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March 10, 2015, 01:25:40 PM
 #2656

So when is scrypt mining going to be reactivated? never...

And what is happening with all that scrypt hardware everyone payed for? collecting dust or has it been sold off...

Bitter still? maybe...

There is still Scrypt mining, I am mining Scrypt for example, but this is for the older contracts which were 1 year contracts which were available until around September last year, fees were included in the price.

My contract was purchased 10 months ago and it will run out in another two months and will turn into a lifetime contract and I will then get a daily fee.

Ian

dead_m92
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March 10, 2015, 03:54:58 PM
 #2657

So when is scrypt mining going to be reactivated? never...

And what is happening with all that scrypt hardware everyone payed for? collecting dust or has it been sold off...

Bitter still? maybe...

There is still Scrypt mining, I am mining Scrypt for example, but this is for the older contracts which were 1 year contracts which were available until around September last year, fees were included in the price.

My contract was purchased 10 months ago and it will run out in another two months and will turn into a lifetime contract and I will then get a daily fee.

Ian

Lucky Ian contract converts to lifetime just when its profitable again^^.

Rizla2345
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March 10, 2015, 11:36:34 PM
 #2658

Seems a bit pricey but it´s still around and always pays out.
Zeta0S
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March 11, 2015, 07:29:28 AM
 #2659

Seems a bit pricey but it´s still around and always pays out.
And a really good payout today!!! Smiley

Get a HUGE 3% discount with promo code: MOON @ Genesis Mining
https://www.genesis-mining.com
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March 12, 2015, 12:48:04 PM
 #2660

They seem to be preparing something new. Any hints what this might be? Should we save our BTC for that?

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