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Author Topic: Genesis-mining.com || World's leading hashpower provider!  (Read 381971 times)
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Borgminer
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August 09, 2015, 11:45:48 PM
 #3001

If you are going to buy cloud mining you are safer using a company that has their own exchange so you can sell hash if your plans change.


so true  Smiley
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Borgminer
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August 09, 2015, 11:46:27 PM
 #3002

what is the current roi for genesis??? and also for short term 1 year ,anyone has a rough idea

roi prolly 13 months .
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August 10, 2015, 10:00:26 AM
 #3003

If you are going to buy cloud mining you are safer using a company that has their own exchange so you can sell hash if your plans change.

Well this is exactly the reason GM does not want to introduce their own exchange. Cause everyone would sell, dump the price down and leave.

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August 10, 2015, 12:52:15 PM
 #3004

If you are going to buy cloud mining you are safer using a company that has their own exchange so you can sell hash if your plans change.

Well this is exactly the reason GM does not want to introduce their own exchange. Cause everyone would sell, dump the price down and leave.

Yeah I think that would happen
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August 10, 2015, 01:01:05 PM
 #3005

If you are going to buy cloud mining you are safer using a company that has their own exchange so you can sell hash if your plans change.

Well this is exactly the reason GM does not want to introduce their own exchange. Cause everyone would sell, dump the price down and leave.

Yeah I think that would happen

Well thats always a question someone can ask them at their next webinar. ...

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August 11, 2015, 09:46:42 AM
 #3006

what is the current roi for genesis??? and also for short term 1 year ,anyone has a rough idea

roi prolly 13 months .
and how many years does the contract lasts ? i guess 3 years Huh
and plus it has no reselling option .

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August 11, 2015, 10:22:51 AM
 #3007

what is the current roi for genesis??? and also for short term 1 year ,anyone has a rough idea

roi prolly 13 months .
and how many years does the contract lasts ? i guess 3 years Huh
and plus it has no reselling option .

Bitcoin itself will define how long contracts last.  Bitcoin decides the fate not only of cloud mining companies but any company that have invested time and money into developing, apps, exchanges......etc etc

Who knows, basically! Thats my own opinion of course.

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August 11, 2015, 11:34:16 AM
 #3008

If you are going to buy cloud mining you are safer using a company that has their own exchange so you can sell hash if your plans change.

Well this is exactly the reason GM does not want to introduce their own exchange. Cause everyone would sell, dump the price down and leave.

This has already been addressed before:

...

3'') The question of why we are not offering hashpower trading is very good and we had long discussions about this already more than a year ago. The reason why we are not doing this is because we would need a licence for securities trading from the SEC. Most of the competitors who offered this service already received subpoenas and are not operating anymore. We have a lot of responsibilities towards our customers and doing anything that threatens our operation to that extent is not acceptable for us.
...

All the best and happy mining!
Marco Streng


According to FinCEN ruling cloud mining companies that simply pay out mined coins to the customer are not labeled money transmitters, see http://www.fincen.gov/news_room/rp/rulings/pdf/FIN-2014-R007.pdf Others that offer markets and exchanges (where the company transfers coins on behalf of customers to other customers) can be labeled as money transmitters.

And this following article is interesting as it tells us that getting proper licenses is (too) costly, and therefor you can assume failing to defend your business in US court as not being a money transmitter is even more costly/deadly: http://www.coindesk.com/bitcoin-law-money-transmission-compliance-avoidance

So... What is safer? Investing using a company that's making sure it's still operational next year and beyond, or investing using a company that may not have the required licensing to service US customers or to operate inside the US?
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August 11, 2015, 11:36:52 AM
 #3009

If you are going to buy cloud mining you are safer using a company that has their own exchange so you can sell hash if your plans change.

Well this is exactly the reason GM does not want to introduce their own exchange. Cause everyone would sell, dump the price down and leave.

This has already been addressed before:

...

3'') The question of why we are not offering hashpower trading is very good and we had long discussions about this already more than a year ago. The reason why we are not doing this is because we would need a licence for securities trading from the SEC. Most of the competitors who offered this service already received subpoenas and are not operating anymore. We have a lot of responsibilities towards our customers and doing anything that threatens our operation to that extent is not acceptable for us.
...

All the best and happy mining!
Marco Streng


According to FinCEN ruling cloud mining companies that simply pay out mined coins to the customer are not labeled money transmitters, see http://www.fincen.gov/news_room/rp/rulings/pdf/FIN-2014-R007.pdf Others that offer markets and exchanges (where the company transfers coins on behalf of customers to other customers) can be labeled as money transmitters.

And this following article is interesting as it tells us that getting proper licenses is (too) costly, and therefor you can assume failing to defend your business in US court as not being a money transmitter is even more costly/deadly: http://www.coindesk.com/bitcoin-law-money-transmission-compliance-avoidance

So... What is safer? Investing using a company that's making sure it's still operational next year and beyond, or investing using a company that may not have the required licensing to service US customers or to operate inside the US?

Good points new guy
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August 11, 2015, 12:32:35 PM
 #3010

If you are going to buy cloud mining you are safer using a company that has their own exchange so you can sell hash if your plans change.

Well this is exactly the reason GM does not want to introduce their own exchange. Cause everyone would sell, dump the price down and leave.

This has already been addressed before:

...

3'') The question of why we are not offering hashpower trading is very good and we had long discussions about this already more than a year ago. The reason why we are not doing this is because we would need a licence for securities trading from the SEC. Most of the competitors who offered this service already received subpoenas and are not operating anymore. We have a lot of responsibilities towards our customers and doing anything that threatens our operation to that extent is not acceptable for us.
...

All the best and happy mining!
Marco Streng


According to FinCEN ruling cloud mining companies that simply pay out mined coins to the customer are not labeled money transmitters, see http://www.fincen.gov/news_room/rp/rulings/pdf/FIN-2014-R007.pdf Others that offer markets and exchanges (where the company transfers coins on behalf of customers to other customers) can be labeled as money transmitters.

And this following article is interesting as it tells us that getting proper licenses is (too) costly, and therefor you can assume failing to defend your business in US court as not being a money transmitter is even more costly/deadly: http://www.coindesk.com/bitcoin-law-money-transmission-compliance-avoidance

So... What is safer? Investing using a company that's making sure it's still operational next year and beyond, or investing using a company that may not have the required licensing to service US customers or to operate inside the US?

Interesting so companies like Hashnest etc are doing something that could get them into trouble down the road. ..I guess.. unless they can block US customers from trading hashpower. Luckily being a Brit it doesn't affect me hehe Smiley

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August 11, 2015, 02:51:48 PM
 #3011

Isn't Genesis Mining affected by BitLicense? (different from FinCEN)

The final version refers to virtual currencies as a whole, and the New York DFS lists "service contract providers" in its "who we supervise" list (http://www.dfs.ny.gov/about/whowesupervise.htm), doesn't a mining contract fall under that?

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August 11, 2015, 03:10:23 PM
 #3012

If you are going to buy cloud mining you are safer using a company that has their own exchange so you can sell hash if your plans change.

Well this is exactly the reason GM does not want to introduce their own exchange. Cause everyone would sell, dump the price down and leave.

This has already been addressed before:

...

3'') The question of why we are not offering hashpower trading is very good and we had long discussions about this already more than a year ago. The reason why we are not doing this is because we would need a licence for securities trading from the SEC. Most of the competitors who offered this service already received subpoenas and are not operating anymore. We have a lot of responsibilities towards our customers and doing anything that threatens our operation to that extent is not acceptable for us.
...

All the best and happy mining!
Marco Streng


According to FinCEN ruling cloud mining companies that simply pay out mined coins to the customer are not labeled money transmitters, see http://www.fincen.gov/news_room/rp/rulings/pdf/FIN-2014-R007.pdf Others that offer markets and exchanges (where the company transfers coins on behalf of customers to other customers) can be labeled as money transmitters.

And this following article is interesting as it tells us that getting proper licenses is (too) costly, and therefor you can assume failing to defend your business in US court as not being a money transmitter is even more costly/deadly: http://www.coindesk.com/bitcoin-law-money-transmission-compliance-avoidance

So... What is safer? Investing using a company that's making sure it's still operational next year and beyond, or investing using a company that may not have the required licensing to service US customers or to operate inside the US?
Good quality post +1

Get a HUGE 3% discount with promo code: MOON @ Genesis Mining
https://www.genesis-mining.com
Genesis-Mining
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August 13, 2015, 12:30:58 PM
 #3013

Dear Genesis Mining community.

Genesis Mining will not be able to comply with the regulations set forth by the proposed BitLicense and as such, we will no longer be able to accept customers from the state of New York. All current customers will be able to continue their services, but going forward, no one with an IP address from the state of New York will be purchase hashpower contracts with us from this point onwards.

We stand by the cryptocurrency community and believe this particular piece of legislation is unnecessary and is an obstacle to free market innovation. We also believe that is exactly what it set it out to do. Companies across the world today posted similar announcements about leaving New York, and while it may seem like a victory to those who passed it, it is important to understand the difference between winning a battle and winning a war. Those who passed this bill have only succeeded in winning a small battle, and as a result have set their state further behind.

More information here
http://blog.genesis-mining.com/bitlicense-red-flag-acts-of-our-era

Coindesk have also written about it here.
http://www.coindesk.com/genesis-mining-leaves-new-york-following-bitlicense-deadline/


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August 13, 2015, 04:01:13 PM
 #3014

Dear Genesis Mining community.

Genesis Mining will not be able to comply with the regulations set forth by the proposed BitLicense and as such, we will no longer be able to accept customers from the state of New York. All current customers will be able to continue their services, but going forward, no one with an IP address from the state of New York will be purchase hashpower contracts with us from this point onwards.

We stand by the cryptocurrency community and believe this particular piece of legislation is unnecessary and is an obstacle to free market innovation. We also believe that is exactly what it set it out to do. Companies across the world today posted similar announcements about leaving New York, and while it may seem like a victory to those who passed it, it is important to understand the difference between winning a battle and winning a war. Those who passed this bill have only succeeded in winning a small battle, and as a result have set their state further behind.

More information here
http://blog.genesis-mining.com/bitlicense-red-flag-acts-of-our-era

Coindesk have also written about it here.
http://www.coindesk.com/genesis-mining-leaves-new-york-following-bitlicense-deadline/



Well that blows. I find it odd that the dude that pushed this crap BitLicense schlock through quit soon after. What a dick.
ashfaq
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August 13, 2015, 05:07:06 PM
 #3015

Dear Genesis Mining community.

Genesis Mining will not be able to comply with the regulations set forth by the proposed BitLicense and as such, we will no longer be able to accept customers from the state of New York. All current customers will be able to continue their services, but going forward, no one with an IP address from the state of New York will be purchase hashpower contracts with us from this point onwards.

We stand by the cryptocurrency community and believe this particular piece of legislation is unnecessary and is an obstacle to free market innovation. We also believe that is exactly what it set it out to do. Companies across the world today posted similar announcements about leaving New York, and while it may seem like a victory to those who passed it, it is important to understand the difference between winning a battle and winning a war. Those who passed this bill have only succeeded in winning a small battle, and as a result have set their state further behind.

More information here
http://blog.genesis-mining.com/bitlicense-red-flag-acts-of-our-era

Coindesk have also written about it here.
http://www.coindesk.com/genesis-mining-leaves-new-york-following-bitlicense-deadline/



Well that blows. I find it odd that the dude that pushed this crap BitLicense schlock through quit soon after. What a dick.
LMAO.. he never wanted to invest but he did made sure that no one else invests loll...

ashfaq
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August 13, 2015, 05:11:00 PM
 #3016

Dear Genesis Mining community.

Genesis Mining will not be able to comply with the regulations set forth by the proposed BitLicense and as such, we will no longer be able to accept customers from the state of New York. All current customers will be able to continue their services, but going forward, no one with an IP address from the state of New York will be purchase hashpower contracts with us from this point onwards.

We stand by the cryptocurrency community and believe this particular piece of legislation is unnecessary and is an obstacle to free market innovation. We also believe that is exactly what it set it out to do. Companies across the world today posted similar announcements about leaving New York, and while it may seem like a victory to those who passed it, it is important to understand the difference between winning a battle and winning a war. Those who passed this bill have only succeeded in winning a small battle, and as a result have set their state further behind.

More information here
http://blog.genesis-mining.com/bitlicense-red-flag-acts-of-our-era

Coindesk have also written about it here.
http://www.coindesk.com/genesis-mining-leaves-new-york-following-bitlicense-deadline/


THE one thing that u should add and which could increase your business very much . "Add the reselling option" that is the only option where a user can profit and plus it dosent effects the company, because there will be always new users to buy .There should be a market for GH.

Genesis-Mining
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August 13, 2015, 05:13:39 PM
 #3017

Dear Genesis Mining community.

Genesis Mining will not be able to comply with the regulations set forth by the proposed BitLicense and as such, we will no longer be able to accept customers from the state of New York. All current customers will be able to continue their services, but going forward, no one with an IP address from the state of New York will be purchase hashpower contracts with us from this point onwards.

We stand by the cryptocurrency community and believe this particular piece of legislation is unnecessary and is an obstacle to free market innovation. We also believe that is exactly what it set it out to do. Companies across the world today posted similar announcements about leaving New York, and while it may seem like a victory to those who passed it, it is important to understand the difference between winning a battle and winning a war. Those who passed this bill have only succeeded in winning a small battle, and as a result have set their state further behind.

More information here
http://blog.genesis-mining.com/bitlicense-red-flag-acts-of-our-era

Coindesk have also written about it here.
http://www.coindesk.com/genesis-mining-leaves-new-york-following-bitlicense-deadline/


THE one thing that u should add and which could increase your business very much . "Add the reselling option" that is the only option where a user can profit and plus it dosent effects the company, because there will be always new users to buy .There should be a market for GH.

Please read a few posts up. It has already been discussed why we will not do a resell option.
https://bitcointalk.org/index.php?topic=602022.msg12111969#msg12111969

Borgminer
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August 15, 2015, 01:04:26 PM
 #3018

If you are going to buy cloud mining you are safer using a company that has their own exchange so you can sell hash if your plans change.
the is complete and utter BS


Well this is exactly the reason GM does not want to introduce their own exchange. Cause everyone would sell, dump the price down and leave.

This has already been addressed before:

...

3'') The question of why we are not offering hashpower trading is very good and we had long discussions about this already more than a year ago. The reason why we are not doing this is because we would need a licence for securities trading from the SEC. Most of the competitors who offered this service already received subpoenas and are not operating anymore. We have a lot of responsibilities towards our customers and doing anything that threatens our operation to that extent is not acceptable for us.
...

All the best and happy mining!
Marco Streng


According to FinCEN ruling cloud mining companies that simply pay out mined coins to the customer are not labeled money transmitters, see http://www.fincen.gov/news_room/rp/rulings/pdf/FIN-2014-R007.pdf Others that offer markets and exchanges (where the company transfers coins on behalf of customers to other customers) can be labeled as money transmitters.

And this following article is interesting as it tells us that getting proper licenses is (too) costly, and therefor you can assume failing to defend your business in US court as not being a money transmitter is even more costly/deadly: http://www.coindesk.com/bitcoin-law-money-transmission-compliance-avoidance

So... What is safer? Investing using a company that's making sure it's still operational next year and beyond, or investing using a company that may not have the required licensing to service US customers or to operate inside the US?

Good points new guy
Borgminer
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August 15, 2015, 01:08:44 PM
 #3019

this makes no sense at all . why just new york ?

Dear Genesis Mining community.

Genesis Mining will not be able to comply with the regulations set forth by the proposed BitLicense and as such, we will no longer be able to accept customers from the state of New York. All current customers will be able to continue their services, but going forward, no one with an IP address from the state of New York will be purchase hashpower contracts with us from this point onwards.

We stand by the cryptocurrency community and believe this particular piece of legislation is unnecessary and is an obstacle to free market innovation. We also believe that is exactly what it set it out to do. Companies across the world today posted similar announcements about leaving New York, and while it may seem like a victory to those who passed it, it is important to understand the difference between winning a battle and winning a war. Those who passed this bill have only succeeded in winning a small battle, and as a result have set their state further behind.

More information here
http://blog.genesis-mining.com/bitlicense-red-flag-acts-of-our-era

Coindesk have also written about it here.
http://www.coindesk.com/genesis-mining-leaves-new-york-following-bitlicense-deadline/


Borgminer
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August 15, 2015, 01:11:22 PM
 #3020

just a stupid move for genesis mining. they believe in a free market but yet they cut off about 8m people .
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