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Author Topic: Genesis-mining.com || World's leading hashpower provider!  (Read 381945 times)
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AltFaucets
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September 21, 2015, 12:58:56 PM
 #3281

Hashnest is worse at the moment.
Lost 0.004 since yesterday.
Very bad luck.

Everyday i'm afraid to check their stats.. is worse and worse..
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alienesb
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September 21, 2015, 12:59:02 PM
 #3282

Doesn't really explain why the payments suddenly fell so sharply while price rose (a little) in the same period.
Also difficulty went up from 57 (x1e9) to 59.3, or a mere 4% increase.

On the sept 4, there was a similar increase in difficulty (54.25 to 57, or 5% increase), which did not result in a sharp drop in payouts.

So clearly something does not compute.

GM should practice mathematics.

Still waiting for a serious explanations here.

Check Hashnest - they are diving down too.. Sad It is about BTC price vs. mining difficulty..

Yeah, but you cant dive down from 10k satoshi to nothing bcause of a 4% increase in Diff, that is not possible  Shocked

No, for sure not! But the price of GHS on Hashnest in the past two weeks dropped 60% down !! Hopefully GM will explain this situation soon..

Of course it's dropped with S7 announced and shipments starting soon (already in some cases.) That is a price correction, not a complete disaster in rewards.
clgrissom3
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September 21, 2015, 01:13:47 PM
 #3283

Without the ability to resell your shares/machine/whatever you should never buy into a "cloud" operation.

You've nailed it!  I went against my own better judgment and bought a hash contract while knowing there was no way to get out.  I basically did it as a test to see how long it would run with steady payouts but dang, it started falling apart after only 25 days!  I thought if this was legit it might last a little more than a year.  I knew I would need 2 years to come close to ROI so I was okay with doing this as a test but I didn’t realize I was going to lose my whole investment before the end of the first month.  I thought I was sharper than that!

Try Kano CKPool - Tip Addy: 1EAbq69WSa1mNKkoWraEyUfqZkcjDcCzYm
Glucose
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September 21, 2015, 01:25:35 PM
 #3284

Without the ability to resell your shares/machine/whatever you should never buy into a "cloud" operation.

You've nailed it!  I went against my own better judgment and bought a hash contract while knowing there was no way to get out.  I basically did it as a test to see how long it would run with steady payouts but dang, it started falling apart after only 25 days!  I thought if this was legit it might last a little more than a year.  I knew I would need 2 years to come close to ROI so I was okay with doing this as a test but I didn’t realize I was going to lose my whole investment before the end of the first month.  I thought I was sharper than that!

Let's wait for GM explanation. Maybe it's a technical error. Because I have NO payout at all for 2 days now (the mining days doesn't even appear on the "payout" board)

clgrissom3
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September 21, 2015, 01:40:08 PM
 #3285

Without the ability to resell your shares/machine/whatever you should never buy into a "cloud" operation.

You've nailed it!  I went against my own better judgment and bought a hash contract while knowing there was no way to get out.  I basically did it as a test to see how long it would run with steady payouts but dang, it started falling apart after only 25 days!  I thought if this was legit it might last a little more than a year.  I knew I would need 2 years to come close to ROI so I was okay with doing this as a test but I didn’t realize I was going to lose my whole investment before the end of the first month.  I thought I was sharper than that!

Let's wait for GM explanation. Maybe it's a technical error. Because I have NO payout at all for 2 days now (the mining days doesn't even appear on the "payout" board)

I've gotten payouts for the past 2 days but they are drastically lower than I was getting two weeks ago when BTC prices were lower.  Technical error or not the main failing here is a total lack of transparency with Genesis Mining.  It's even more apparent when a problem like this crops up that we have no meaningful view into the operation at all.

Try Kano CKPool - Tip Addy: 1EAbq69WSa1mNKkoWraEyUfqZkcjDcCzYm
Roquene
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September 21, 2015, 01:42:02 PM
 #3286

Let's wait for GM explanation. Maybe it's a technical error. Because I have NO payout at all for 2 days now (the mining days doesn't even appear on the "payout" board)

With normal Genesis Contract or Spondoolies?
Because somebody said only the spondoolies have the problem.

At least my normal works fine now. Got every payout and with ~265 Sat. per GH/s not even bad.
Glucose
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September 21, 2015, 01:45:51 PM
 #3287

Let's wait for GM explanation. Maybe it's a technical error. Because I have NO payout at all for 2 days now (the mining days doesn't even appear on the "payout" board)

With normal Genesis Contract or Spondoolies?
Because somebody said only the spondoolies have the problem.

At least my normal works fine now. Got every payout and with ~265 Sat. per GH/s not even bad.

I only have genesis contracts.

It doesn't look good. They answered my ticket saying it's because of difficulty rising.

According to my calculation, it's absolutely IMPOSSIBLE that my payout goes from 0.09 to 0.0000000.

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September 21, 2015, 01:48:16 PM
 #3288

Really strange.
GM shows a similar behavior as Scrypt.cc.

And that's, of course, extremely bad.

But still hope for the best. *Fingers crossed*
clgrissom3
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September 21, 2015, 01:50:17 PM
 #3289

Let's wait for GM explanation. Maybe it's a technical error. Because I have NO payout at all for 2 days now (the mining days doesn't even appear on the "payout" board)

With normal Genesis Contract or Spondoolies?
Because somebody said only the spondoolies have the problem.

At least my normal works fine now. Got every payout and with ~265 Sat. per GH/s not even bad.

I have a normal Genesis contract (1.5TH/s) and my average was at ~254 per GH/s up until 3 days ago.  For the past three days it has averaged ~173 and the progression has been getting lower each day.

Try Kano CKPool - Tip Addy: 1EAbq69WSa1mNKkoWraEyUfqZkcjDcCzYm
galdur
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September 21, 2015, 02:14:48 PM
 #3290

Well, if it gives up the ghost it will be the universe´s second most legit cloud mining operation to do so this year.

Most legit as in according to scam experts on these here threads.

clgrissom3
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September 21, 2015, 02:25:27 PM
 #3291


Here is a visual of what my payouts have looked like compared to the price of BTC over the past month.


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julian071
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September 21, 2015, 02:37:11 PM
 #3292


Here is a visual of what my payouts have looked like compared to the price of BTC over the past month.



On the 17th of september the diff went up 4.17%. I'll do the math of this mess later.

=P
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September 21, 2015, 02:43:29 PM
 #3293

I´m too lazy now for a 30 miles drive to check out the gigantic facilities of the world´s largest cloud mining operation. Maybe I´ll get around to it later.

The location is known, right? Google? Must be like a freakin aircraft hangar for the world´s largest?!?

It is supposedly at the former NATO base here so I guess a hangar it well could be.

TheRealSteve
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September 21, 2015, 02:50:08 PM
 #3294

Not sure how much math you need for that.  Say we take the ~230 sat/Gh/s as the basis just before the 17th and before the drop.  If the difficulty rose by 4.17% to a level of 104.17%, then the expected revenue would be inversely proportional to that.  230 multiplied by (1/1.0417) is 220 sat/Gh/s, not 165.

Moreover, the difficulty jumped by 4.98% on September 4th.  While there was a drop around that time from 270 down to 230 (for whatever reason), that later stabilized just below 260.  Doing the same math, that seems more reasonable; 270 * 1/(1.0498) = 257.

Most legit as in according to scam experts on these here threads.
I don't know if anybody's a scam expert, but it's not like they didn't have marks against them in that cloud mining 101 thread.  Their acquisition of SP hardware (back in February) lent them some credibility.

I'd wait for GM to come in and give an official explanation, as right now it's just guesswork. (disclaimer: I don't use GM, if you do and you feel something hinky is going on, act accordingly).

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September 21, 2015, 02:53:59 PM
 #3295

Steve, the calculation would be different, it's not simply inversely proportional, as there is also a subtraction (profit minus fees) in the equation. You have to divide the profit by the %'ual increase in diff, then subtract the fees, taking into account the changing exchange rate of BTC to USD.

=P
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September 21, 2015, 03:01:49 PM
 #3296

Cool down people, let`s wait for a answer from one of the Marco`s first.

Get a HUGE 3% discount with promo code: MOON @ Genesis Mining
https://www.genesis-mining.com
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September 21, 2015, 03:07:23 PM
 #3297


Here is a visual of what my payouts have looked like compared to the price of BTC over the past month.



On the 17th of september the diff went up 4.17%. I'll do the math of this mess later.

And it went up 5% on 3rd of september, right for the first dip in the chart... coincidence?

galdur
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September 21, 2015, 03:12:20 PM
 #3298

I guess a picture really does say more than a thousand words  Grin

TheRealSteve
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September 21, 2015, 03:55:40 PM
 #3299

You have to divide the profit by the %'ual increase in diff, then subtract the fees, taking into account the changing exchange rate of BTC to USD.
Oh I fully acknowledge that it's a simplification - but even that simplification should give an indication of whether the difficulty change and the exchange rates combined would have as large an effect as shown in the sample graph.  When you find the time to throw your math at it, please do Smiley

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September 21, 2015, 04:19:50 PM
 #3300

You have to divide the profit by the %'ual increase in diff, then subtract the fees, taking into account the changing exchange rate of BTC to USD.
Oh I fully acknowledge that it's a simplification - but even that simplification should give an indication of whether the difficulty change and the exchange rates combined would have as large an effect as shown in the sample graph.  When you find the time to throw your math at it, please do Smiley

I will do that tonight.

=P
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