Genesis-mining.com || World's leading hashpower provider!

[Rizla2345]

many tanks for your reply...

but as much I searching and learning online and with your help with answer  I can say now that with mining profit is poor and very risky... I will not bother if is slow earnings .. but after all calculation mining become to much risky... will not even bother if is risky and if we can make good ROI ... but you see my point?   hight risk/low earnings ... what you thing ??
sorry for my english ..I am not the best

It is well known that mining is risky. And so is Bitcoin. Thus, the same rule applies:

"do not invest more than you can afford to lose"

Everyone has his own expectations about the future and will act accordingly. My sha contract for example was profitable. I have invested recently some money in X11 because prices and hashrate are relatively stable and if this continues I will make a profit, as well.

Also with GM you have the option to mine different coins. By the way it would be great if you guys could add Ethereum, as well!

How well does the direct mining work?  I have only left it on auto as I don't want to deal with the exchanges.  What does GM mine on x11 anyways?  Do they move from coin to coin for profitability or?  I have not see anything about the x11 process and what they are mining.

Thanks

Fahlcor

So  a few days back I purchased another 1 Mhash of x11 bso I expected the first day to be lower due to the fee and maybe a full payout on the second day but I seems small.  I don't think the difficulty on SHA should have anything to do with the difficulty going up.

Is the x11 mining more volatile than the SHA? 

GM support is there some light you can shed on how this works?  I won't be purchasing more until there is something.  Even a PM with info would be great.  Or a link to the site that says as I can't find any real details about this.

Thanks

Fahlcor

Like the paragon of transparency (according to himself only) that runs this outfit said; this thread is for official announcements and self-congratulations only. Well, maybe the occasional referral whore as well.

Payout´s heading for the dumps again.  Another 20% drop in 12 days when the next difficulty increase hits.

[lama-hunter]

Wow - Guys had some segnificant Payout Drops today of quit up to 20% of yesterday :/
This is tuff for me and if this stays like this i might think iam out of the Bitcoin Game with genesis mining
The Drop outs are anyways not responsable to the Bitcoin Course. That cant be truth that 5€ downing of the actuall Course of Bitcoin is tha Reason that the Payout drops simply about 25% which means 0.01 BTC (daily)

Do you Guys think the difficulty fucks everything up or why the fuck are the Paysouts from GM droping like shit without any Reason. Would be great to know or hear any suggest.

regards
lama-hunter

Yes me to, but two payouts came close after a other. So i do not worry about that.

Okayokay lets wait up for tommorow - Maybe the Payment of tommorow will be better i dont know so far. Anyways you guys have any concret reviews how much u earned by 20mh/s x11 Mining Power?
Would be great to know or to hear about I will also post how it goes ion with the normal hashrate out there on GM.

regards
lama-hunter

[POM]

X11 took a hit last 2 payouts..damn.

[Fahlcor]

X11 took a hit last 2 payouts..damn.

But why is the question

[Deadstock]

X11 took a hit last 2 payouts..damn.

But why is the question

My X11 BTC(AUTO) payout dropped a whopping 50% from 4 days ago..what a joke 

[IanFoxley]

X11 took a hit last 2 payouts..damn.

But why is the question

Well theses forums are a wealth of information.

I am sure you will find your answer in it somewhere.

For example with BTC (AUTO) and X11 you are getting a payout from profitable X11 coins to BTC.

When those coins are in a pump and their prices are good against BTC, then you get more BTC each day and when their not doing so well or are being dumped then you get less BTC each day.

If you are mining those coins directly then when mining, payouts will always vary every day based on difficulty of those coins and the network hashrate at the time.

So read up about those things so you can understand why payouts are how they are.

[IanFoxley]

X11 took a hit last 2 payouts..damn.

But why is the question

My X11 BTC(AUTO) payout dropped a whopping 50% from 4 days ago..what a joke  

If you think it is a joke, then do not mine.

[Deadstock]

X11 took a hit last 2 payouts..damn.

But why is the question

My X11 BTC(AUTO) payout dropped a whopping 50% from 4 days ago..what a joke  

If you think it is a joke, then do not mine.

You make it sound like there is a out.

[IanFoxley]

X11 took a hit last 2 payouts..damn.

But why is the question

My X11 BTC(AUTO) payout dropped a whopping 50% from 4 days ago..what a joke  

If you think it is a joke, then do not mine.

You make it sound like there is a out.

BTC (AUTO) works by mining X11 coins and then they are traded and to BTC. If those X11 coins are not doing so well against BTC  in regards to their value, then price falls.

If you look in the last week for example, Dash coin prices were in a pump so you got more BTC for your coins and now Dash has fallen again so that is why payouts go down.

Perhaps sometimes it might be better to mine Dash or Start coin on their own and hold them and then wait for their values to go up and then sell...

That choice is upto you though.

[Deadstock]

X11 took a hit last 2 payouts..damn.

But why is the question

My X11 BTC(AUTO) payout dropped a whopping 50% from 4 days ago..what a joke  

If you think it is a joke, then do not mine.

You make it sound like there is a out.

BTC (AUTO) works by mining X11 coins and then they are traded and to BTC. If those X11 coins are not doing so well against BTC  in regards to their value, then price falls.

If you look in the last week for example, Dash coin prices were in a pump so you got more BTC for your coins and now Dash has fallen again so that is why payouts go down.

Perhaps sometimes it might be better to mine Dash or Start coin on their own and hold them and then wait for their values to go up and then sell...

That choice is upto you though.

If you don't mind sharing, what are you currently mining on X11? I figured you might be more knowledgeable on the profitability of these coins since you have quite a few MH/s of X11.

[biggbox]

I have been observing outputs from GM against the outputs that I have from a physical miner (on a PPS model). I am beginning to question the rate of returns of GM.

[Wintermute]

I have been observing outputs from GM against the outputs that I have from a physical miner (on a PPS model). I am beginning to question the rate of returns of GM.

I am tracking their payouts for a long time, and found them to be reasonable (with slight variations, which are to be expected).

It helps if you back up your vague accusations with data: date, coin/algorithm, hashrate, maintenance fee.

[Fahlcor]

I have been observing outputs from GM against the outputs that I have from a physical miner (on a PPS model). I am beginning to question the rate of returns of GM.

I am tracking their payouts for a long time, and found them to be reasonable (with slight variations, which are to be expected).

It helps if you back up your vague accusations with data: date, coin/algorithm, hashrate, maintenance fee.

I guess I got in when they were up and then doubled up because it was good.  Now with double I'm getting less than when I got in which seems wrong.

how do you guys mine the x11?  Auto or pick a coin and do it yourself?

How variable is the x11?  Does anyone know how GM determines what they are mining and when they switch coins?

Thanks

Fahlcor

[IanFoxley]

I have been observing outputs from GM against the outputs that I have from a physical miner (on a PPS model). I am beginning to question the rate of returns of GM.

I am tracking their payouts for a long time, and found them to be reasonable (with slight variations, which are to be expected).

It helps if you back up your vague accusations with data: date, coin/algorithm, hashrate, maintenance fee.

I guess I got in when they were up and then doubled up because it was good.  Now with double I'm getting less than when I got in which seems wrong.

how do you guys mine the x11?  Auto or pick a coin and do it yourself?

How variable is the x11?  Does anyone know how GM determines what they are mining and when they switch coins?

Thanks

Fahlcor

I have a feeling that GM is probably using an X11 multipool as theres not many X11 coins that you can mine all the time because if GM pointed their hashrate at some of the less popular X11 coins, it would destroy them, you only have to look at the network hashrate on Coinwarz for alot of the X11 coins to see that some of them only have small network hashrates so GM is probably doing the largest X11 coins, which are Dash and Start, of course this is only what I can see and what makes sense.

I actually just leave it on BTC (AUTO) although I do have some hashpower mining Start and Dash just to get an idea of what payouts are with those coins.

[notaek]

Nowadays, its better to invest in some peer based cloudmining services like Nicehash, Mining Rig Rentals etc. You pay for GH/s according to your will (especially when Bitcoin price "nearly" skyrockets or mine some profitable altcoins and exchange them for BTC). One more advantage is that, you can control your pool since you can configure your preferred pool in no time!. BTW, I wish GM gets successful with their X11 contracts as it's the most profitable contract right now in my opinion.

[Wintermute]

Nowadays, its better to invest in some peer based cloudmining services like Nicehash, Mining Rig Rentals etc. You pay for GH/s according to your will (especially when Bitcoin price "nearly" skyrockets or mine some profitable altcoins and exchange them for BTC). One more advantage is that, you can control your pool since you can configure your preferred pool in no time!. BTW, I wish GM gets successful with their X11 contracts as it's the most profitable contract right now in my opinion.

I do not agree. Last time I checked it was not possible to rent a rig for a year. And when the price for a coin goes up, so does the short-term price for renting. So ROI wise this is a bad deal.

With GM I have one price for a long period of time, independent of the price of the underlying coins. My X11 investment is going very well, so far - and I do not know any other service that even comes close to the offer of GM.

[clgrissom3]

Up to 11/27/2015...

[Zeta0S]

X11 took a hit last 2 payouts..damn.

But why is the question

My X11 BTC(AUTO) payout dropped a whopping 50% from 4 days ago..what a joke  

If you think it is a joke, then do not mine.

Ian seriously. I don't understand why you are always so supportive to Genesis Mining.

I'm almost sure you work for them lol.

We all work for them Glucose, Hoehahahaha!

[IanFoxley]

Ian seriously. I don't understand why you are always so supportive to Genesis Mining.
I'm almost sure you work for them lol.

Well in that case I must also work for Hashnest and Mining Sweden, Zeushash and all the other companies i invest money into over the time. Oh and ScryptCC ..work for them too, not a nice company to work for mind you. Owner doesnt pay me...not a nice boss.

But seriously think about it, do you think if i worked for GM, i would be posting videos about other companies and what they offer?

It would be like you accusing me of working for Apple when I post videos about Samsung Galaxy phones or Microsoft Surface products and HTC Android phones.

[IanFoxley]

Glucose is posting on his thread that lots of customers are very unhappy about their X11 payouts and they are going down all the time...  

After looking through here, I am still trying to work out who the lots are, can only see a few and it only seems to be his posts and Galdurs posts that are being deleted (2 people) and when you have thousands of customers then yeh, you always get a few unhappy ones.

Anyway I thought i would post this below so that of you who are in the "Why are my X11 payouts going down" category can understand a little bit more.

If you look here https://www.coingecko.com/en/price_charts/startcoin/btc/60_days

and here https://www.coingecko.com/en/price_charts/dash/btc/60_days
 
You will see that both Dashcoin and Startcoin are going down in value all the time so those coins are traded to BTC each day then you get less back all the time. That is how it is unfortunately.

Its very simple to understand once you realise why. It is not GM doing this, it's what happens when you mine and GM is providing you with mining hashpower, nothing more and nothing less. If you were mining at home with X11 with your GPU then the same thing happens.

GM is not turning on a tap and making those payouts get lower on purpose.

It is because those coins that are being mined are losing value. When people invest they should always take the time to do research and if they did they would realise that at the moment their BTC payouts could go down because X11 coins are going down in relation to BTC. It is not different to those mining with X11 on other pools.. their daily payout goes down too..Startcoin had a block halving recently as well and that affects the amount you get mining each day if you are mining Startcoin on its own.

If you are mining X11 coins directly, you get around the same each day as if you had your own GPU set up on a pool mining Dash and Start directly. Then you have to decide what to do, dump them and that makes the price go down or hold onto them and hope the price rises in the future so you can sell them at better price.

There really is nothing complicated about it.

But if people just blindly invest thinking that they always will make money and mining with Crypto is like magic money then unfortunately that is never the case.