Bitcoin Forum
December 12, 2017, 03:01:52 PM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: « 1 ... 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 [145] 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 ... 246 »
  Print  
Author Topic: Genesis-mining.com || World's leading hashpower provider!  (Read 381950 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic.
creuz
Member
**
Offline Offline

Activity: 86


View Profile
July 03, 2015, 08:23:09 PM
 #2881

40000 satoshi each day for 100 Gh/s (it was 50000 100 days ago), 100 Gh/s is 45$ or 20 000 000 satoshi, if you are lucky you will get back your coins in 500 days but in fact you won't because payout will be 30000 for 100 Gh/s in 100 days then 20000 in 200 days, so the ROI in more 1000+ days than 500. In the end you will never get your money back.

Anyway they claim to have more and more customers but global hashrate is just constant, conclusion Genesis Mining with their unreachable ROI are attracting customers from other miners, or this is likely a scam doing fractional-reserve mining... spot the mistake Wink

Finally they don't want to prove their hashrate : it's so easy, they have to show us the block they found yesterday. They act as an obscure service while cryptocurrencies allow them to be clear. Conclusion : Genesis Mining is a scam.

If you want to invest, just buy coins now then wait... Bitcoin and Litecoin are cheap nowadays. Don't give your money to these fake mining services.
1513090912
Hero Member
*
Offline Offline

Posts: 1513090912

View Profile Personal Message (Offline)

Ignore
1513090912
Reply with quote  #2

1513090912
Report to moderator
1513090912
Hero Member
*
Offline Offline

Posts: 1513090912

View Profile Personal Message (Offline)

Ignore
1513090912
Reply with quote  #2

1513090912
Report to moderator
1513090912
Hero Member
*
Offline Offline

Posts: 1513090912

View Profile Personal Message (Offline)

Ignore
1513090912
Reply with quote  #2

1513090912
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
creuz
Member
**
Offline Offline

Activity: 86


View Profile
July 03, 2015, 09:36:33 PM
 #2882

can someone explain to me is it fine for invest ?

https://www.reddit.com/r/BitcoinMining/
https://www.reddit.com/r/BitcoinMining/comments/31ulhm/anyone_use_genesismining_or_cloudminrio_for_cloud/
Genesis-Mining
Sr. Member
****
Offline Offline

Activity: 429


View Profile WWW
July 03, 2015, 11:02:01 PM
 #2883

I can't understand why people claiming to be legit and serious are not showing us their real hash power and mining address, it is so easy and a radical way to stop criticism.

You are not clear and we know why : at best you are doing fractional-reserve mining, at worst you are not mining at all, just scamming.


Hey creuz,
 
Thank you for your comments and your feedback. The question is a good one, unfortunately, there is no short and easy answer. Let me explain below why:
 
Just showing a couple of mining addresses (+ proof ownership) is not sufficient because:
(a) the amount of hashrate sold would be needed too, and
(b) the hashrate could be rented on a short term basis only.

The first point could be partially mitigated by using Merkle-trees etc., but there would still be (b). It makes little sense for us to spend considerable resources on setting up a complex system to "proof" hashrate ownership, which is not even bullet-proof in the end. Resources that we would miss on other ends, eg., for building an excellent tool for managing huge mining farms (Genesis Hive – see below).
 
Another point is that we would like to protect our business secrecies. Some competitors are very interested in getting to know how much hashpower we have and how much we sell every day. We are not publishing this kind of information for a reason.
 
A couple of things that we are doing to give everyone comfort that Genesis Mining is doing real mining:
 
* photos & videos:  we are showing videos and photos from our mining farms (often with people from the team / or GM logos on it)
* endorsements: several hardware manufacturers have endorsed us, because we purchased a lot of miners from them (inter-alia Zeus, Bitmain, Spondoolies)
* tours: we allow large investors to visit our farm and show it to them
* mining management software: we have created Genesis Hive ( http://genesis-hive.com/ ); this is a special software dedicated to manage huge mining farms: if you control 1000s of miners you want to use specialized software. (Sidenote: we are pretty proud of this product: it started as a couple of small scripts and after a year of development became a nice product on its own - and already in use by two competitors!)
* there are more things we are doing: being transparent about the people involved, presenting on conferences etc.

We know this is not a 100% proof, but unfortunately there is no such thing as 100% in this case. Please do not get me wrong: I think you are asking the right question, and I honestly wish more users would carefully analyse the companies they are dealing with. I was shocked when I saw how many users trusted the bitcoin cloud services scam.

Anyway, to come back to your original question: we have decided that we will publish one of our BTC mining addresses within the next week (about 2 PH/s). Hopefully, it will give you some more comfort that we are very real.

Cheers,
  Marco

creuz
Member
**
Offline Offline

Activity: 86


View Profile
July 03, 2015, 11:33:32 PM
 #2884

Anyway, to come back to your original question: we have decided that we will publish one of our BTC mining addresses within the next week (about 2 PH/s). Hopefully, it will give you some more comfort that we are very real.

Hi,

Finally !

Publishing one of your BTC mining addresses is a good start.

In the future, if you provide evidence that you are doing a real work I will be able to buy again from your company (even at loss). A real time list of found blocks on the web site would make Genesis Mining completely unblamable, this is what amateurs mining pools are doing, I'm confident you are technically able to have it. I accept to lose money for a real hashing power (because it is at least securising the network), but not for a fake service.

Kind regards.
creuz
Member
**
Offline Offline

Activity: 86


View Profile
July 03, 2015, 11:45:05 PM
 #2885

Quote
Another point is that we would like to protect our business secrecies. Some competitors are very interested in getting to know how much hashpower we have and how much we sell every day. We are not publishing this kind of information for a reason.

Sorry you have to choose between transparency toward your customers and your so-called business secrecies. This is a false argument and the worst one, used by a lot of scammers before, so scam for scam we won't pay your more expensive service.

Keep in mind we are your business ; if you consider your hardware before your customers, don't ask us to buy your hashrate, mine for yourself.

netpeak
Newbie
*
Offline Offline

Activity: 22


View Profile
July 06, 2015, 08:06:10 AM
 #2886

I believe in GM and upgraded hash power Saturday, and today again because it's such a good deal for me paying with bitcoins I bought 20% cheaper than today's price  Cool

The statements of Genesis here are much appreciated, very clear and polite language. In such a competing business like mining I don't think many companies will be much more transparent than Genesis.
fairglu
Legendary
*
Offline Offline

Activity: 1064


View Profile WWW
July 06, 2015, 03:55:06 PM
 #2887

Publishing one of your BTC mining addresses is a good start.

Recent payments I got can be traced back to Eligius quite directly, I only have a very small amount of hash-power though, so it's not a very representative sample (I get a fraction of mBTC per day).

After a bit of taint analysis, here is what the GM hot wallet I'm paid from got from Eligius in the last days:

July 5: 51.32 BTC
July 4: 59.44 BTC
July 3: 8.22 BTC
July 2: 47.60 BTC
July 1: 61.36 BTC

This is just one pool, and just a taint analysis guesstimation, actual values are higher, and it's also chump change for the GM wallet.

So far taint analysis guesstimation shows at least between 5000 and 6000 BTC transited that hot wallet since its creation, with a current balance of at least 120 BTC.

The bulk of the deposits to that hot wallet (4300 BTC) seems to be from a script-hash wallet (addresses beginning with 3), which has lots of I/O with various crypto exchanges, so I would guess it's their auto-trader selling alts they mined for BTC.

All in all, that's not a huge amount of BTC for a major mining company (given that 7200 BTC are mined everyday, and the above hot wallet is quite old), so this would have to be a hot wallet for small-time small-hash-power customers and alt-crypto trading, with larger customers handled separately.

Finally, take all the above with a shovel of salt, this is guesstimation Smiley

Icon
Hero Member
*****
Online Online

Activity: 755


Seems I deinvested all my btc :(


View Profile
July 06, 2015, 07:30:08 PM
 #2888

well they said 1 of the mining servers was a mere 2 ph/s which isn't jack vs the 405,204.935 th/s total hash rate  that's less then .02 % if that, genesis would have to mine at some other pool to even find a block in 24 hours.

Icon

Wintermute
Full Member
***
Offline Offline

Activity: 179


View Profile
July 07, 2015, 08:56:19 AM
 #2889

well they said 1 of the mining servers was a mere 2 ph/s which isn't jack vs the 405,204.935 th/s total hash rate  that's less then .02 % if that, genesis would have to mine at some other pool to even find a block in 24 hours.

Icon

Total hashrate: approx. 380 PH/s   ( https://bitcoinwisdom.com/bitcoin/difficulty )

2 PH/s => 0.53%


@fairglu: the daily payout is about 3600 BTC  (=25*24*6)
Genesis-Mining
Sr. Member
****
Offline Offline

Activity: 429


View Profile WWW
July 07, 2015, 01:51:16 PM
 #2890

Dear Genesis Mining Community.

We recently did a poll about block sizes which some of our users contributed to and the link below is an article with the thoughts
of the block size debate from our perspective and some other thoughts of Marco Streng, CEO of Genesis Mining.

https://www.cryptocoinsnews.com/please-raise-block-size-bitcoin-mining-community-poll/

Your Genesis Mining Team

Genesis-Mining
Sr. Member
****
Offline Offline

Activity: 429


View Profile WWW
July 07, 2015, 09:32:14 PM
 #2891

Dear Genesis Mining Community.

In one of the last posts that Marco wrote here, he mentioned a new Genesis Mining tool for large-scale miners called Genesis Hive.

Coindesk have written an article about it.

http://www.coindesk.com/genesis-mining-bitcoin-efficiency/

The website is here http://genesis-hive.com/

Your Genesis Mining Team

Zeta0S
Legendary
*
Offline Offline

Activity: 1400


View Profile
July 08, 2015, 01:52:54 PM
 #2892

Dear Genesis Mining Community.

In one of the last posts that Marco wrote here, he mentioned a new Genesis Mining tool for large-scale miners called Genesis Hive.

Coindesk have written an article about it.

http://www.coindesk.com/genesis-mining-bitcoin-efficiency/

The website is here http://genesis-hive.com/

Your Genesis Mining Team
This seems a great tool!
Will look in to this tomorrow

Get a HUGE 3% discount with promo code: MOON @ Genesis Mining
https://www.genesis-mining.com
Roquene
Hero Member
*****
Offline Offline

Activity: 420


View Profile
July 08, 2015, 01:54:24 PM
 #2893

Just out of curiosity. Is known how much Scrypt Hashrate Genesis has total?
Zeta0S
Legendary
*
Offline Offline

Activity: 1400


View Profile
July 08, 2015, 02:04:42 PM
 #2894

Hello All,

This is a screenshot from my Genesis Mining Account.

I have  a total of 4 TerraHash.
You can see I am mining 95% Bitcoin and 5% Zeta coin.
Also some lottocoins (see payouts)

I thought it would be interresting  Smiley



(If you investigates the wallet addresses you can see this are real mined coins).






Get a HUGE 3% discount with promo code: MOON @ Genesis Mining
https://www.genesis-mining.com
IanFoxley
Legendary
*
Offline Offline

Activity: 910


View Profile
July 08, 2015, 05:20:36 PM
 #2895

Just out of curiosity. Is known how much Scrypt Hashrate Genesis has total?

As far as I know it will just be the users on the 1 year Scrypt contracts from last year that will be using Scrypt. Although I believe if I remember, they did offer 1.5 and 2 year contracts just before they changed to lifetime so there might be some users on those too.

I dont think the scrypt hashrate will be too high now though... I for example still have 8MH/s scrypt but that is slowly going down as my 1 year contracts finish so by September I wont have any Scrypt at all.

Ian

IanFoxley
Legendary
*
Offline Offline

Activity: 910


View Profile
July 08, 2015, 05:21:52 PM
 #2896

Dear Genesis Mining Community.

In one of the last posts that Marco wrote here, he mentioned a new Genesis Mining tool for large-scale miners called Genesis Hive.

Coindesk have written an article about it.

http://www.coindesk.com/genesis-mining-bitcoin-efficiency/

The website is here http://genesis-hive.com/

Your Genesis Mining Team
This seems a great tool!
Will look in to this tomorrow

I think the tool is for people interested at hosting lots of miners together in a farm.. Do not think it is really catered for a home miner from what I can see.

Ian

Macno
Legendary
*
Offline Offline

Activity: 980


View Profile
July 08, 2015, 09:02:31 PM
 #2897

For the german speaking audience:

http://cointelegraph.de/news/114778/genesis-mining-lanciert-neuartige-mining-software
fairglu
Legendary
*
Offline Offline

Activity: 1064


View Profile WWW
July 09, 2015, 09:32:56 AM
 #2898

This is a screenshot from my Genesis Mining Account.

I have  a total of 4 TerraHash.

You're paid from the same GM hot wallet as I am, so 4 TH is not yet enough to qualify as a major GM customer... and it did not reveal any more hash power.

IanFoxley
Legendary
*
Offline Offline

Activity: 910


View Profile
July 09, 2015, 09:58:51 AM
 #2899

This is a screenshot from my Genesis Mining Account.

I have  a total of 4 TerraHash.

You're paid from the same GM hot wallet as I am, so 4 TH is not yet enough to qualify as a major GM customer... and it did not reveal any more hash power.

Spondoolies customers probably get paid to a different wallet too as different fee structure.

fairglu
Legendary
*
Offline Offline

Activity: 1064


View Profile WWW
July 09, 2015, 09:59:45 AM
 #2900

...and it did not reveal any more hash power.

This hot wallet sees an influx of at least 40-50 BTC every day, if all of it was newly mined blocks, out of 3600 BTC mined per days, that would be 1-2% of all newly mined BTC, which would require about 4 PH/s of mining power (someone else check the figures!)

However not all of that influx is from mining, a fair share is from exchanges, with two way transfers which muddy things a bit (would need more time to figure out the exact flow).

Is the above a ballpark figure for GM? Or should it be higher?

(by comparison KnCMiner hot wallet was seeing an influx of 200-250 BTC per day in early 2015)




Pages: « 1 ... 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 [145] 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 ... 246 »
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!