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Genesis-Mining (OP)
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July 28, 2015, 06:02:05 PM
Last edit: August 01, 2015, 09:45:20 AM by Genesis-Mining |
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Hello Genesis Mining Community. Our first live webinar has now finished but it is available to watch anytime using the link below. Updated video link 1st August 2015https://www.youtube.com/watch?v=LM0YUEbOGu4Best Regards Genesis Mining |
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Whoever mines the block which ends up containing your transaction will get its fee.
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DaddyMonsi
Legendary
 Offline
Activity: 1344
Merit: 1006
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July 29, 2015, 01:54:04 AM |
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Hi Genesis Mining Community
You can now order hashpower contracts again with Credit Card.
Regards
Your Genesis Mining Team.
thank you Genesis-Mining this is a great update. is this going to be a regular webminar like a monthly or quarterly webminar? |
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Wintermute
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July 29, 2015, 09:36:34 AM |
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I also enjoyed the webinar. Interesting discussion!
Please do it again!
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Genesis-Mining (OP)
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July 29, 2015, 04:27:15 PM |
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Hi Genesis Mining Community. Thanks to all of you that have watched our first Webinar and left comments and feedback. We will announce when the next webinar will be so you can send in questions to us. Marco Krohn and Marco Streng certainly enjoyed it as you can see. Hope you did too. Genesis Mining Team.  |
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Genesis-Mining (OP)
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July 29, 2015, 07:40:42 PM |
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Dear Genesis Mining Community
We would love to read your thoughts and ideas on what you would like to see in Webinars in the future.
Please post your comments and replies in this thread as we would very interested to hear from you all.
Thanks
Your Genesis Mining Team
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tokingtoking
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July 30, 2015, 03:52:53 AM |
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I would assume a lot of people choose Genesis-mining for the reason that they earn more then they could self mining.
Exactly! I can not as the electricity in my part of the world is too high, plus i dont think my neighbours would appreciate having the noise of the miners either going on 24 hours a day. Also with the amount of hashpower i have, it would be a nightmare to have at home, it isn't easy to set up with regards to making sure they have cooling etc etc. An electrician would have to sort out my home electricity as i do not think could cope with having so much power plugged into a few sockets. Plus the heat..UGH, do i really need to go on?? Sometimes people need to think about that. Like the poster who posted a while back with their 657 TH/s or however much it was. It was a huge amount. If that person had to try and have that amount for themselves, they would have to build their own building, do the cooling, basically would have to make up their own farm, would have to hire security, hire staff to put it all together for him and to maintain it for him every day, would be wages to pay, monster electricity bill to negotiate and pay, but this guy just lets Genesis Mining sort all that out for him. hi Ian with you point of view, which one better contract between lifetime and 1 year? Well 1 year is much cheaper, payouts are the same with 1 year and lifetime, as maintenance fees are the same for both. 0.0015 USD per GH/s As long as Bitcoin does not fall in value (affects the fee because the fee is in USD and is taken from the payout at exchange rate of Bitcoin and Fiat at the time) and Bitcoin difficulty doesn't keep going up and up in steps then you should get ROI within the year. Next Bitcoin difficulty change is less than a day now and looks like it will be a small rise again. https://bitcoinwisdom.com/bitcoin/difficultyIf I get the last payout for 1TH/s which was 0.00442000 BTC, contract price for 1 year is 1.017 BTC at time of writing then if payouts were the same and difficulty (never happens) then ROI would be around 230 days leaving 135 days of profit. but of course it is not as easy as that but anyway. With the next difficulty change the time will increase, but a year is a year and there is no predicting really what happens. Disadvantage of 1 year contract. Well ..it is a year, if you want to invest long term, still think Lifetime is better But you could purchase 1 year and then when year is up, then reinvest some or all of it again into another one year and so on.. This is Crypto though so you can never be sure of what might happen. i dont think so Ian. have doubled from 1th to 2th, payout is 0.007xxxx instead of 0.008xxxx (as your last payout, mine also same when it was 1th)  |
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crazyivan
Legendary
Offline
Activity: 1652
Merit: 1007
DMD Diamond Making Money 4+ years! Join us!
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July 30, 2015, 06:26:13 AM |
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I would assume a lot of people choose Genesis-mining for the reason that they earn more then they could self mining.
Exactly! I can not as the electricity in my part of the world is too high, plus i dont think my neighbours would appreciate having the noise of the miners either going on 24 hours a day. Also with the amount of hashpower i have, it would be a nightmare to have at home, it isn't easy to set up with regards to making sure they have cooling etc etc. An electrician would have to sort out my home electricity as i do not think could cope with having so much power plugged into a few sockets. Plus the heat..UGH, do i really need to go on?? Sometimes people need to think about that. Like the poster who posted a while back with their 657 TH/s or however much it was. It was a huge amount. If that person had to try and have that amount for themselves, they would have to build their own building, do the cooling, basically would have to make up their own farm, would have to hire security, hire staff to put it all together for him and to maintain it for him every day, would be wages to pay, monster electricity bill to negotiate and pay, but this guy just lets Genesis Mining sort all that out for him. hi Ian with you point of view, which one better contract between lifetime and 1 year? Well 1 year is much cheaper, payouts are the same with 1 year and lifetime, as maintenance fees are the same for both. 0.0015 USD per GH/s As long as Bitcoin does not fall in value (affects the fee because the fee is in USD and is taken from the payout at exchange rate of Bitcoin and Fiat at the time) and Bitcoin difficulty doesn't keep going up and up in steps then you should get ROI within the year. Next Bitcoin difficulty change is less than a day now and looks like it will be a small rise again. https://bitcoinwisdom.com/bitcoin/difficultyIf I get the last payout for 1TH/s which was 0.00442000 BTC, contract price for 1 year is 1.017 BTC at time of writing then if payouts were the same and difficulty (never happens) then ROI would be around 230 days leaving 135 days of profit. but of course it is not as easy as that but anyway. With the next difficulty change the time will increase, but a year is a year and there is no predicting really what happens. Disadvantage of 1 year contract. Well ..it is a year, if you want to invest long term, still think Lifetime is better But you could purchase 1 year and then when year is up, then reinvest some or all of it again into another one year and so on.. This is Crypto though so you can never be sure of what might happen. i dont think so Ian. have doubled from 1th to 2th, payout is 0.007xxxx instead of 0.008xxxx (as your last payout, mine also same when it was 1th) I think you are making one crucial mistake here. It s not only about reaching ROI, it s about profit AFTER ROI. You cannot sell hash with GM. So, if you invest, reach ROI after a year and then your payouts are so low due to increased diff, why investing at all? Once more, GM s total junk, these people generate profit only for them. |
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IanFoxley
Legendary
Offline
Activity: 910
Merit: 1000
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July 30, 2015, 07:33:22 AM |
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i dont think so Ian. have doubled from 1th to 2th, payout is 0.007xxxx instead of 0.008xxxx (as your last payout, mine also same when it was 1th) The last payout for 2TH should be somewhere around 0.00892760 after fees. I worked this out by taking my last 50GH/s payout, dividing it by 50 to get a payout for 1GH/s and then multiplying that by 2000. Perhaps you only upgraded a day or so ago and you have not let your new hashpower do a full 24 hour mining day yet. Just like when you purchase hashpower from new you have to give it a couple of payouts before you actually get a full days payout. Ian |
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Zeta0S
Legendary
Offline
Activity: 1890
Merit: 1031
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July 30, 2015, 09:19:20 AM |
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The question is "will Genesis Mining implement the new SF100 BTC & LTC Dual Miner" ?
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tokingtoking
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July 30, 2015, 09:48:06 AM
Last edit: July 30, 2015, 10:58:57 AM by tokingtoking |
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i dont think so Ian. have doubled from 1th to 2th, payout is 0.007xxxx instead of 0.008xxxx (as your last payout, mine also same when it was 1th) The last payout for 2TH should be somewhere around 0.00892760 after fees. I worked this out by taking my last 50GH/s payout, dividing it by 50 to get a payout for 1GH/s and then multiplying that by 2000. Perhaps you only upgraded a day or so ago and you have not let your new hashpower do a full 24 hour mining day yet. Just like when you purchase hashpower from new you have to give it a couple of payouts before you actually get a full days payout. Ian already open ticket to GM. hope they can explain this matter. i already wait for 24 hours to let GM system adjust payout but it comes 0.007xxx. im sure GM can see my history upgrade and payout, lets wait. edit:GM replied, i have to wait next payout because last payout its not fully 24hours. will get back after payout. Ian, its mean 24 hours waiting is not enough. 2x24 for sure. |
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IanFoxley
Legendary
Offline
Activity: 910
Merit: 1000
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July 30, 2015, 11:12:42 AM
Last edit: July 30, 2015, 02:04:33 PM by IanFoxley |
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i dont think so Ian. have doubled from 1th to 2th, payout is 0.007xxxx instead of 0.008xxxx (as your last payout, mine also same when it was 1th) The last payout for 2TH should be somewhere around 0.00892760 after fees. I worked this out by taking my last 50GH/s payout, dividing it by 50 to get a payout for 1GH/s and then multiplying that by 2000. Perhaps you only upgraded a day or so ago and you have not let your new hashpower do a full 24 hour mining day yet. Just like when you purchase hashpower from new you have to give it a couple of payouts before you actually get a full days payout. Ian already open ticket to GM. hope they can explain this matter. i already wait for 24 hours to let GM system adjust payout but it comes 0.007xxx. im sure GM can see my history upgrade and payout, lets wait. edit:GM replied, i have to wait next payout because last payout its not fully 24hours. will get back after payout. Ian, its mean 24 hours waiting is not enough. 2x24 for sure. Well it does say on their FAQ when ordering ...Please allow 24-48 hours for first payout to arrive so I guess that would apply when you purchase any hashpower as well. I have bought hashpower for example in the evening my time so the payout the next day was small, the payout was just for a few hours mining on the first day, then the day after payout was how it should be. Its abit like a job, If you started a new job at 3pm and the working day was 9-5pm and the boss tells you that he will pay you tomorrow, then you wouldnt go to your boss the next day after he paid you and ask him why he only paid you for 2 hours..If you did, he would say..well you only did 2 hours work yesterday, if that makes sense. |
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July 30, 2015, 10:19:32 PM |
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Soo got a question if anyone can answer me or not, when mining alt coins using sha256 (btc>scrypt) do they just sell our mined btc no matter what we choose to mine and buy X coin for the amount of btc we mined during the 24 hour period? Reason i am asking is it just better just to leave mining set to btc and i choose when to buy the ltc or let genesis do it for me? Icon PS Why not add Hunter coin its a POW merged (guys who made nmc is on the dev team) mined coin to the mix it works both scrypt/sha256 for payout options? https://bitcointalk.org/index.php?topic=435170.0 |
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tokingtoking
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July 30, 2015, 10:45:45 PM |
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i dont think so Ian. have doubled from 1th to 2th, payout is 0.007xxxx instead of 0.008xxxx (as your last payout, mine also same when it was 1th) The last payout for 2TH should be somewhere around 0.00892760 after fees. I worked this out by taking my last 50GH/s payout, dividing it by 50 to get a payout for 1GH/s and then multiplying that by 2000. Perhaps you only upgraded a day or so ago and you have not let your new hashpower do a full 24 hour mining day yet. Just like when you purchase hashpower from new you have to give it a couple of payouts before you actually get a full days payout. Ian already open ticket to GM. hope they can explain this matter. i already wait for 24 hours to let GM system adjust payout but it comes 0.007xxx. im sure GM can see my history upgrade and payout, lets wait. edit:GM replied, i have to wait next payout because last payout its not fully 24hours. will get back after payout. Ian, its mean 24 hours waiting is not enough. 2x24 for sure. Well it does say on their FAQ when ordering ...Please allow 24-48 hours for first payout to arrive so I guess that would apply when you purchase any hashpower as well. I have bought hashpower for example in the evening my time so the payout the next day was small, the payout was just for a few hours mining on the first day, then the day after payout was how it should be. Its abit like a job, If you started a new job at 3pm and the working day was 9-5pm and the boss tells you that he will pay you tomorrow, then you wouldnt go to your boss the next day after he paid you and ask him why he only paid you for 2 hours..If you did, he would say..well you only did 2 hours work yesterday, if that makes sense. payout comes out 0.0086xxx. its about same as we calculated. 48hrs is for sure except we can match GM starting point on that day calculation. thanks Ian, works fine now. |
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July 30, 2015, 11:00:52 PM |
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yep that's about right 2/3 going to genies 1/3 going toward you.. enjoy
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IanFoxley
Legendary
Offline
Activity: 910
Merit: 1000
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July 31, 2015, 04:45:50 AM |
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Soo got a question if anyone can answer me or not, when mining alt coins using sha256 (btc>scrypt) do they just sell our mined btc no matter what we choose to mine and buy X coin for the amount of btc we mined during the 24 hour period? Reason i am asking is it just better just to leave mining set to btc and i choose when to buy the ltc or let genesis do it for me? Icon PS Why not add Hunter coin its a POW merged (guys who made nmc is on the dev team) mined coin to the mix it works both scrypt/sha256 for payout options? https://bitcointalk.org/index.php?topic=435170.0Any coin that has (Auto) written beside it with on the page where you allocate SHA 256 hashpower to coins, has the payouts traded to that particular coin at the exchange rate at the time, as an example BTC/LTC, BTC,DASH or BTC/Doge at payout. It's good because it means you don¨t have to do the exchanging yourself, it can be handy sometimes as in the past I have sent coins to some exchanges and they dont show up for hours, but if you like parking your coins at an exchange and waiting for a pump then I guess just sending BTC to the exchange is better. |
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MegaMike
Newbie
Offline
Activity: 23
Merit: 0
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July 31, 2015, 10:42:31 AM |
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yep that's about right 2/3 going to genies 1/3 going toward you.. enjoy
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Wow, that's 1/3 going to me instead of having to pay an additional 1/3 to the power company for running the equipment at my home. Thank you for doing the math for me  |
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August 01, 2015, 01:18:54 AM |
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yep that's about right 2/3 going to genies 1/3 going toward you.. enjoy
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Wow, that's 1/3 going to me instead of having to pay an additional 1/3 to the power company for running the equipment at my home. Thank you for doing the math for me True but instead of someone else keeping the other 2/3 of the payouts, you would get to keep it  In other words you are paying 2/3 to the "power company now" vs you doing the mining at home instead of genesis Icon |
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birdcat90
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August 02, 2015, 12:55:05 AM |
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genesis payment stable for now...i hope it will stay like that until hit ROI..better will make ROI faster..
40% before ROI...hehehe
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tokingtoking
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August 02, 2015, 10:45:30 PM |
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yep that's about right 2/3 going to genies 1/3 going toward you.. enjoy
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Wow, that's 1/3 going to me instead of having to pay an additional 1/3 to the power company for running the equipment at my home. Thank you for doing the math for me True but instead of someone else keeping the other 2/3 of the payouts, you would get to keep it In other words you are paying 2/3 to the "power company now" vs you doing the mining at home instead of genesis Icon if it really 2/3 going to power company then Genesis is wiser choice because you dont have to take care of your hardware or maybe you dont have to pay extra bill of your internet. |
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