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Author Topic: Genesis-mining.com || World's leading hashpower provider!  (Read 381335 times)
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Zeta0S
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September 23, 2015, 12:10:25 AM
 #3341

I believe in this and that...

Well, personally I think verification is way more important here than belief. Once they verify that they´re the world´s largest cloud mining operation I´ll start believing. Shouldn´t be much of a problem, transparency is after all their middle name, according to themselves.
What is it you would like to see?  I can ask for a photo for there farm if you like.

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clgrissom3
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Carl, aka Sonny :)


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September 23, 2015, 12:13:18 AM
 #3342

With such a small chart the scaling for difficulty is a bit tricky (diff/200000000) but it does show the correlation of the drops with difficulty jumps.


Try Kano CKPool - Tip Addy: 1EAbq69WSa1mNKkoWraEyUfqZkcjDcCzYm
galdur
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September 23, 2015, 12:14:31 AM
 #3343

I believe in this and that...

Well, personally I think verification is way more important here than belief. Once they verify that they´re the world´s largest cloud mining operation I´ll start believing. Shouldn´t be much of a problem, transparency is after all their middle name, according to themselves.
What is it you would like to see?  I can ask for a photo for there farm if you like.

I would like to see which freakin blocks they find what do you think. The amount of hash power. I want them to verify that they´re the world´s largest cloud miner.

galdur
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September 23, 2015, 12:22:17 AM
 #3344

I mean, if you´ve been paying attention in recent time you´ve probably noticed that inability or unwillingness to provide the info I´m talking about has been a great forward looking indicator of one very important thing, namely the untimely demise of the operators.

So, no more hot air please. Bring on the numbers.


BitcoinNewsMagazine
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September 23, 2015, 12:54:26 AM
 #3345

If you read their FAQ they are under no obligation to reveal any details, good luck with that.

galdur
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September 23, 2015, 01:09:58 AM
 #3346

If you read their FAQ they are under no obligation to reveal any details, good luck with that.

But they´re dedicated to transparency, according to themselves. Since that transparency stops at the first most important thing that statement of theirs is total bullcrap. How about we´re the world´s largest operator? Think that´s in touch with reality?

clgrissom3
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September 23, 2015, 01:30:50 AM
 #3347

If you read their FAQ they are under no obligation to reveal any details, good luck with that.

You are absolutely correct and they have every right to stick to their guns.  But personally, I will never buy nor recommend to anyone to buy another contract unless they open internal links to their Block History and Hash Rate tables to contract owners that are logged in.  That would be real transparency and a great service to contract owners.  It would also show that they respect and honor the contract owners who laid down hard earned money to support Genesis Mining.

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BitcoinNewsMagazine
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September 23, 2015, 02:02:32 AM
 #3348

If you read their FAQ they are under no obligation to reveal any details, good luck with that.

But they´re dedicated to transparency, according to themselves. Since that transparency stops at the first most important thing that statement of theirs is total bullcrap. How about we´re the world´s largest operator? Think that´s in touch with reality?

Marketing hype. The total hash rate of Genesis Mining is unknown while Hashnest is over 27 PH/s. GM has never been transparent and are in business to make a profit like everyone else. Hashnest is not totally transparent either, but a hell of a lot more information is made available. 

galdur
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September 23, 2015, 03:07:37 AM
 #3349

If you read their FAQ they are under no obligation to reveal any details, good luck with that.

But they´re dedicated to transparency, according to themselves. Since that transparency stops at the first most important thing that statement of theirs is total bullcrap. How about we´re the world´s largest operator? Think that´s in touch with reality?

Marketing hype. The total hash rate of Genesis Mining is unknown while Hashnest is over 27 PH/s. GM has never been transparent and are in business to make a profit like everyone else. Hashnest is not totally transparent either, but a hell of a lot more information is made available.  

Yeah, that´s how people behave when there´s no regulation. Maybe bitcoin is constantly in the dumps because it´s in the process of trying to shed some annoying fleas or other parasites. In the real world markets do that actually. Bitcoin isn´t THAT far away from funeral arrangements for all these mining wonderdogs.

How´s that for a thought virus. Maybe I should start spreading it around.

yazx
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September 23, 2015, 04:21:42 AM
 #3350

Hello Genesis Mining
#13877 tickets
4 days ago no reply back. I am still waiting for these delays.
Why not do or say anything? Over 9 days without any progress.
I check this ticket in everyday, almost every hour But still unanswered
I do not know how many millions Ticket cause these delays?
Runlevel
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September 23, 2015, 07:18:55 AM
 #3351

Here the same one - a ticket for few days and no reply.

so long,
Runlevel
 
julian071
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September 23, 2015, 07:22:24 AM
 #3352


In future, if there is any question or concern, please contact directly our support and you will get help immediately. This channel is mainly for public announcements and comments from users to the public which are often fair and valid but unfortunately also not so rarely unjustifiably rude and aggressive. Since we value non censorship and think it is important what everybody says we will continue to tolerate the latter ones although we are forced to take action in specially critical situations where people are insulted or uneducated users are led to known to be illegal providers by promising unrealistically high returns and deceiving readers.

Yours
Marco Streng

Dear Marco,

While it is most certainly true that reactions here are sometimes quite rude and aggressive, I must say you're not helping by delaying your explanation for so long. In fact, in your place I would pro-actively inform all users with contracts that turn unprofitable at the moment that happens, out of politeness and also to not have to explain to everybody post hoc. As you can see by the discussion here it took everybody quite a while to figure out that it's the 4,17% rise of difficulty in combination with the already low BTC-price that made the contracts turn unprofitable. What are people supposed to think when their contract turn unprofitable, and no explanation is offered? A little more sensitivity to the fact that people have invested real money hoping (in vein, perhaps, but still) to make a real profit and that they (we) are quite disappointed would certainly be appropriate.

=P
Glucose
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September 23, 2015, 08:38:47 AM
 #3353

Dear Marco

Instead of deleting my posts, why don't you show to the world how much I paid your company and how much I "mined" ?
Why can't you prove I'm wrong when I'm saying no body will ROI with you ? Face my posts instead of deleting it.


My post has been deleted 3 times. I'm saying you have to find a solution for your old customers and, yes, I have opened a scam accusation thread against GM because I think the risk is way too high and no body should invest in it.

Your own exemple shows it Marco : what if BTC doesn't go to 300 but goes to 170 instead ? You don't even say that difficulty will keep rising (which means your new customers will be f**** in a few months anyway). You're are the one taking the money right now, buying asics, taking fees, you are even able to resell the asics after that.

You don't provide any valuable informations (total hash, pools, blocks found).

No one is gonna make a nice profit here. Only you will. People have to know it before investing.

GM has to be more transparent (blocks found with our hash for exemple), they also have to give a solution to the majority of customers having 0.002 BTC fee/ ghs in their contracts (= 0 profit and no ROI).

(and you can't blame us for posting here : your support doesn't answer very quickly..)

Genesis-Mining
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September 23, 2015, 09:01:39 AM
 #3354

Instead of deleting my posts, why don't you show to the world how much I paid your company and how much I "mined" ?

Why can't you prove I'm wrong when I'm saying no body will ROI with you ? Face my posts instead of deleting it.

We have already explained to you why your payouts are what they are, because your contracts have reached a point where the daily fee is more than the payouts. A 2 USD per TH/s fee per day when mining Bitcoin at the moment brings under 2 USD a day.

We have mainly 3 different contracts out there with 3 different maintenance fees.

SHA 256 contracts started around September a year ago, these contracts were either 0.02 USD per 10GH/s and then later on 0.01 USD per 5GH/s but both these are equivalent to 0.002 USD per GH/s per day or 2 USD per TH/s. This maintenance fee lasted until late January 2015 when we introduced lower maintenance fees going forward of 0.0015 USD per GH/s or 1.50 USD per TH/s. Then last week we lowered the fees again and going forward fees are now 0.0012 USD per GH/s per day or 1.20 USD per TH/s.

As you know or should know, we deduct a daily maintenance fee from the generated coins that covers all ongoing costs like electricity costs, cooling, maintenance work and hosting services. If the ongoing costs exceed the mined coins, there is no point in mining anymore - since you as a customer would have to pay more for the mining than you actually get out of it. We don't charge you for this difference. Then as it is written in the terms which have to be agreed to before any hashpower is purchased, if this carries on for 20 preceeding days then the contracts are terminated.

We have many users who have many types of contracts in their accounts covering all the fees mentioned above so because of this they are still getting positive payouts.

Genesis Mining

Bravo_Zulu
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September 23, 2015, 09:13:18 AM
 #3355

Instead of deleting my posts, why don't you show to the world how much I paid your company and how much I "mined" ?

Why can't you prove I'm wrong when I'm saying no body will ROI with you ? Face my posts instead of deleting it.

We have already explained to you why your payouts are what they are, because your contracts have reached a point where the daily fee is more than the payouts. A 2 USD per TH/s fee per day when mining Bitcoin at the moment brings under 2 USD a day.

We have mainly 3 different contracts out there with 3 different maintenance fees.

SHA 256 contracts started around September a year ago, these contracts were either 0.02 USD per 10GH/s and then later on 0.01 USD per 5GH/s but both these are equivalent to 0.002 USD per GH/s per day or 2 USD per TH/s. This maintenance fee lasted until late January 2015 when we introduced lower maintenance fees going forward of 0.0015 USD per GH/s or 1.50 USD per TH/s. Then last week we lowered the fees again and going forward fees are now 0.0012 USD per GH/s per day or 1.20 USD per TH/s.

As you know or should know, we deduct a daily maintenance fee from the generated coins that covers all ongoing costs like electricity costs, cooling, maintenance work and hosting services. If the ongoing costs exceed the mined coins, there is no point in mining anymore - since you as a customer would have to pay more for the mining than you actually get out of it. We don't charge you for this difference. Then as it is written in the terms which have to be agreed to before any hashpower is purchased, if this carries on for 20 preceeding days then the contracts are terminated.

We have many users who have many types of contracts in their accounts covering all the fees mentioned above so because of this they are still getting positive payouts.

Genesis Mining

This still doesn't answer the real question regarding greater transparency. Why won't GM publish blocks found? 
galdur
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September 23, 2015, 09:21:04 AM
 #3356

January 2015:

Striking a positive note on the future of an industry which has been in turmoil over recent months, Streng claims that his company is currently in a “favourable position”. They could keep operating even if the price of btc were to fall as low as $100 USD.

https://www.cryptocoinsnews.com/cloud-mining-will-profit-bitcoin-price-rise-says-genesis-ceo/

galdur
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September 23, 2015, 09:24:43 AM
 #3357

Looking forward in January they could keep operating at $100 but now at $229 contracts are becoming worthless?

Maybe his highness could get off his high horse and elaborate on this.

galdur
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September 23, 2015, 09:32:49 AM
 #3358

Bear in mind that bitcoin had just cratered 250 dollars in two months when this incredible hype and hot air appeared at that site. And this guy has the gall to talk big about people being rude and aggressive.

Glucose
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September 23, 2015, 09:37:11 AM
 #3359

Looking forward in January they could keep operating at $100 but now at $229 contracts are becoming worthless?

Maybe his highness could get off his high horse and elaborate on this.

Thank you. This archive is quite an epic one Cheesy

galdur
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September 23, 2015, 09:39:40 AM
 #3360

Looking forward in January they could keep operating at $100 but now at $229 contracts are becoming worthless?

Maybe his highness could get off his high horse and elaborate on this.

Thank you. This archive is quite an epic one Cheesy

Enjoy.

Is it freakin rude and aggressive to lie and hype and have hot air coming out of all your ####### orifices??

Not you Glucose of course.

How many people do you think read this crap in january 2015 with bitcoin in freefall and thought what a relief I can go with this guy. 100 bucks now thats safe. And then they sunk money into this hole. Remember the guy with tens of thousands of dollars? That was in January or early Feb.

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