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Author Topic: Genesis-mining.com || World's leading hashpower provider!  (Read 385551 times)
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Glucose
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October 07, 2015, 04:10:23 PM
 #3541

Payout for GM gone out already...it went out in the early hours this morning.

Let's check tomorrow then. Because today even with the fees, we are supposed to be in profit.

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October 08, 2015, 03:36:23 AM
 #3542

What happen if contact 1 year x11 expire?

i will get back my  btc or no?
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October 08, 2015, 06:33:02 AM
 #3543

What happen if contact 1 year x11 expire?

i will get back my  btc or no?

Who knows, it will expire in one year as unlike the SHA 256 lifetime contracts which have a daily fee,  electricity costs for X11 contracts are already included in the price you paid.
So even if payouts went to zero and not sure if they could unless Startcoin, Dash and all the other X11 coins die then your contract would carry on anyway, until the year was up.



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October 08, 2015, 06:34:02 AM
 #3544

What happen if contact 1 year x11 expire?

i will get back my  btc or no?

Haha, I assume you mean your initial investment. NO, you will not get back your initial BTC.

BTW, can anyone comment on X11 GM profitability or potential ROI? Since there are no fees, it should depend ONLY on diff and price. I highly doubt this new product is worth of any attention since GM has proven to be nothing but loss for its investors but I still want to ask.  

For security, your account has been locked. Email acctcomp15@theymos.e4ward.com
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October 08, 2015, 06:46:01 AM
 #3545

What happen if contact 1 year x11 expire?

i will get back my  btc or no?

Haha, I assume you mean your initial investment. NO, you will not get back your BTC.

Personally 1MH/s is not very profitable although the higher amounts seem to be, naturally because the costs per MH/s decrease, but who knows what will happen with Dash and Startcoin in the future, perhaps they will rise in value and if they do that increases the BTC payout as the BTC payout is based on mining X11 coins and trading them to BTC. Of course payouts can go the other way too and payouts can decrease  and unless some huge ass X11 Asics come along in the future and drive up the difficulty then I am hoping payouts will be stable...But this is crypto so who knows.

I noticed that on the X11 mining interface they have added LTC (AUTO) Doge (AUTO) and BTCD (AUTO) as well.

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October 08, 2015, 06:46:33 AM
 #3546

What happen if contact 1 year x11 expire?

i will get back my  btc or no?

Haha, I assume you mean your initial investment. NO, you will not get back your initial BTC.

BTW, can anyone comment on X11 GM profitability or potential ROI? Since there are no fees, it should depend ONLY on diff and price. I highly doubt this new product is worth of any attention since GM has proven to be nothing but loss for its investors but I still want to ask.  

Ive been posting payouts based on 1MH/s X11 on my thread, is worth a look to give you an idea. Will be adding Hashnest S7 payouts when they are available.
As you will see, at the moment BTC payouts using BTC (AUTO) with X11, are almost double the payouts for SHA 256 50GH/s lifetime contracts.

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October 08, 2015, 06:55:18 AM
 #3547

100 MH/s cost $1805

Dashcoin with 100 MH/s = $12.62 daily = $378,6 monthly

ROI = 4,8 Month


With 500 MH/s a ROI of 4,1 possible


Of course at current price and without difficulty change.
could be faster or way longer. but i think a acceptable profit is possible in lifetime of the contract.
if you are able to watch the X11 coins and switch mined coin @ GM accordingly

would love to test it. somebody lend me 10 BTC? Cheesy
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October 08, 2015, 07:13:35 AM
 #3548

100 MH/s cost $1805

Dashcoin with 100 MH/s = $12.62 daily = $378,6 monthly

ROI = 4,8 Month


With 500 MH/s a ROI of 4,1 possible


Of course at current price and without difficulty change.
could be faster or way longer. but i think a acceptable profit is possible in lifetime of the contract.
if you are able to watch the X11 coins and switch mined coin @ GM accordingly

would love to test it. somebody lend me 10 BTC? Cheesy

No need, i purchased 300 MH/s so I am the guinea pig here.

As payouts with BTC (AUTO) are around 0.0003 BTC per MH/s I was expecting around 0.09 BTC a day. Although we shall see ..haha..

I was just going to leave it on BTC (AUTO) cos if Dash and Startcoin go up in value against BTC then surely my BTC payouts would increase as well as BTC (AUTO) is based on X11 coins being traded and paid out to BTC...I guess if you mine Dash and then hang onto it and then sell when price is high and buy back when price is low you could do ok..But I am terrible at that

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October 08, 2015, 10:25:56 AM
 #3549

Hi Genesis Mining community!

We have updated the X11 Mining allocation page to include some more choices like we have on our SHA 256 mining allocation page.

X11 miners can allocate hashpower to

Dash
Startcoin 
BTC(AUTO)

We have added the following:

Litecoin (AUTO)
Doge (AUTO)
BTCD (AUTO)

Do not forget (AUTO) means Autotrade and this means mining profitable X11 coins and then returns are traded to the (AUTO) coin you have allocated hashpower to and paid out in that coin.



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October 08, 2015, 02:05:23 PM
 #3550

Up to 10/7/2015...another bit of a bump in payout.


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October 08, 2015, 07:28:55 PM
 #3551

What happen if contact 1 year x11 expire?

i will get back my  btc or no?

NO, you get EVERYONE's BTC back .....
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October 08, 2015, 09:49:26 PM
 #3552

Still no payout. Too bad...

And no gesture of goodwill for the oldest customers. Not sure you will still go a long way GM. Customers who don't ROI won't reinvest.

You've signed a contract with a predetermined fee.

It is not the fault of GM when the Bitcoin price too low, or the Difficulty is too high and the contract is no longer profitable.

Even the new contracts with lower fees are a losing proposition. But I speculate on rising prices. Of course, this can also totally go wrong and my money is gone. The risk is always there.

Seemingly still think people that here would be a magic money printing machine. But it's a high-risk investment. In a still experimental cryptographic currency.

And if GM would everyone pay compensation, the company would be bankrupt within days. Why should they give away money? They are also a profit-oriented company.

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October 08, 2015, 10:13:01 PM
 #3553

Still no payout. Too bad...

And no gesture of goodwill for the oldest customers. Not sure you will still go a long way GM. Customers who don't ROI won't reinvest.

You've signed a contract with a predetermined fee.

It is not the fault of GM when the Bitcoin price too low, or the Difficulty is too high and the contract is no longer profitable.

Even the new contracts with lower fees are a losing proposition. But I speculate on rising prices. Of course, this can also totally go wrong and my money is gone. The risk is always there.

Seemingly still think people that here would be a magic money printing machine. But it's a high-risk investment. In a still experimental cryptographic currency.

And if GM would everyone pay compensation, the company would be bankrupt within days. Why should they give away money? They are also a profit-oriented company.


Right. And all current GM contracts will be underwater when block halving occurs next summer and fees > revenue at current bitcoin price range. Buying any bitcoin mining contract at GM right now is high risk. You are placing a bet that bitcoin price will double by next summer. The trouble with that type of bet is GM is the house and the house always wins. You need to look for hosted bitcoin mining with daily fees that are half of what GM charges if you want to give yourself any type of edge.

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October 08, 2015, 11:02:10 PM
 #3554

Still no payout. Too bad...

And no gesture of goodwill for the oldest customers. Not sure you will still go a long way GM. Customers who don't ROI won't reinvest.

You've signed a contract with a predetermined fee.

It is not the fault of GM when the Bitcoin price too low, or the Difficulty is too high and the contract is no longer profitable.

Even the new contracts with lower fees are a losing proposition. But I speculate on rising prices. Of course, this can also totally go wrong and my money is gone. The risk is always there.

Seemingly still think people that here would be a magic money printing machine. But it's a high-risk investment. In a still experimental cryptographic currency.

And if GM would everyone pay compensation, the company would be bankrupt within days. Why should they give away money? They are also a profit-oriented company.


You got it right Soylent Green!

Everyone is responsible for his own investment. People should stop whining and blaming someone else. If you do not understand the risks, you should not invest. I am doing lots of investments and some work out and some do not - that is how it is. GM is doing exactly what they promised according to the contract.

And I came to the same conclusion: their X11 contracts look like a good investment opportunity!

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October 09, 2015, 05:23:14 AM
 #3555

Right. And all current GM contracts will be underwater when block halving occurs next summer and fees > revenue at current bitcoin price range. Buying any bitcoin mining contract at GM right now is high risk. You are placing a bet that bitcoin price will double by next summer. The trouble with that type of bet is GM is the house and the house always wins. You need to look for hosted bitcoin mining with daily fees that are half of what GM charges if you want to give yourself any type of edge.

Don't need to "invest" in cloudmining if Bitcoin price double, you just have to buy Bitcoins now and you will have twice the value next summer.
Cloudmining is a monkey business, the winners are GM and its HUGE%DISCOUNT dealers.
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October 09, 2015, 05:25:05 PM
 #3556

are payouts delayed? my last one was Oct. 7
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October 09, 2015, 08:19:58 PM
 #3557

Up to 10/8/2015...a bit of a bump in BTC but not payout.


I proudly mine at the KanoPool, the Best Bitcoin Pool in the World!
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October 09, 2015, 08:33:52 PM
 #3558

Hi Everyone.

Just wanted to remind everyone that payouts can be anytime each day between Midnight and 23:59 UTC time.
So on one day you might get a payout in the morning, another day in the evening and then in the morning again. It will vary every day.

We have had a lot of support tickets this evening with people asking about their payouts.

You can find out the time in UTC by typing "time in utc" in Google.

Currently as I type this it is just 8:32 PM UTC.

Genesis Mining

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October 10, 2015, 11:15:07 AM
 #3559

Up to 10/8/2015...a bit of a bump in BTC but not payout.

http://i.imgur.com/KHPnuW5.jpg

This is what i don't understand. how can btc price go up but not the pay out?
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October 10, 2015, 11:58:52 AM
 #3560

Up to 10/8/2015...a bit of a bump in BTC but not payout.



This is what i don't understand. how can btc price go up but not the pay out?

I think the price lacks one day; so the pricing on the previous day is relevant because they will probably do the BTC/USD conversion during that day. It could also be because the price is changing during the day, or pool luck could also play a role.
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