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Author Topic: Genesis-mining.com || World's leading hashpower provider!  (Read 382424 times)
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ranlo
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May 19, 2014, 06:04:49 AM
 #41

a question for existing users: according to this calculator (https://www.wemineltc.com/usercalc.php), 1MH/s can get ~0.13 LTC per day. How about the genesis-mining plans?

I have had two payments so far, average so far is about 1.4 USD a day in BTC. I think the days will vary but I think 1.4 USD is around 0.13 LTC.

Will see what I get with my next payment, later day.

You also have to take into account that I am not paying any costs for electricity at home, no heat generated, also I can use my PC for gaming instead of having to use it for mining.


Are you using 2MH plan? may I ask how much BTC is paid per day, in total 1.4 or 2.8 USD? If 1.4USD per day per MH, it is equivalent to 100-120GH/s bitcoin miner. Now a 180G bitcoin miner costs around 300-400USD, so if GM is using bitcoin mining and exchange for scrypt coins, then their price is more reasonable. This is just my guess Smiley
I am doing a 1mhash plan which costs 180USD a year. You can set that up by choosing custom when you go to pay.  On average over the 3 days I have had 0.003 BTC sent to me.
Before I bought this plan I was using an ATI R9 280x graphics card which can now have a rest most of the time.  Smiley

That's a pretty awesome deal. That's over 1BTC a year (assuming it remains pretty much constant), or over double what you paid.

Yes and BTC might go up in price again as well or go down a bit more. Also more people will be mining using asics so the difficulty will go up so might mean less money for me each month.
In an interview that was posted earlier, a representative of GM did say they were thinking about introducing montly rental soon. That looks quite good to me also.

In the interview they did say sometime in the future they would be thinking about people being able to mine other coins other than scrypt. X11 etc. This is because a lot of their infrastructure is GPU based.

That sounds cool. It's the only thing holding me back right now: not being able to speculate on coins and mine what I want.

Also, in terms of the mining, it's the Bitcoin itself you care about, because you are spending basically 0.3 BTC to get back 1 BTC (assuming everything is consistent). Don't bring USD into it because that alters everything. ie.

If you spend $450 right now to get a miner. It mines back 0.5 BTC but the price is $10,000 each. You've made $4550 ($5000-$450). But you could have spent that $450 on a Bitcoin and now you'd have made $9550 ($10000-$450).

Always keep with Bitcoin itself. Never introduce fiat because you aren't dealing with fiat.


 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




















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May 19, 2014, 06:22:42 AM
 #42

a question for existing users: according to this calculator (https://www.wemineltc.com/usercalc.php), 1MH/s can get ~0.13 LTC per day. How about the genesis-mining plans?

I have had two payments so far, average so far is about 1.4 USD a day in BTC. I think the days will vary but I think 1.4 USD is around 0.13 LTC.

Will see what I get with my next payment, later day.

You also have to take into account that I am not paying any costs for electricity at home, no heat generated, also I can use my PC for gaming instead of having to use it for mining.


Are you using 2MH plan? may I ask how much BTC is paid per day, in total 1.4 or 2.8 USD? If 1.4USD per day per MH, it is equivalent to 100-120GH/s bitcoin miner. Now a 180G bitcoin miner costs around 300-400USD, so if GM is using bitcoin mining and exchange for scrypt coins, then their price is more reasonable. This is just my guess Smiley
I am doing a 1mhash plan which costs 180USD a year. You can set that up by choosing custom when you go to pay.  On average over the 3 days I have had 0.003 BTC sent to me.
Before I bought this plan I was using an ATI R9 280x graphics card which can now have a rest most of the time.  Smiley

That's a pretty awesome deal. That's over 1BTC a year (assuming it remains pretty much constant), or over double what you paid.

Yes and BTC might go up in price again as well or go down a bit more. Also more people will be mining using asics so the difficulty will go up so might mean less money for me each month.
In an interview that was posted earlier, a representative of GM did say they were thinking about introducing montly rental soon. That looks quite good to me also.

In the interview they did say sometime in the future they would be thinking about people being able to mine other coins other than scrypt. X11 etc. This is because a lot of their infrastructure is GPU based.

That sounds cool. It's the only thing holding me back right now: not being able to speculate on coins and mine what I want.

Also, in terms of the mining, it's the Bitcoin itself you care about, because you are spending basically 0.3 BTC to get back 1 BTC (assuming everything is consistent). Don't bring USD into it because that alters everything. ie.

If you spend $450 right now to get a miner. It mines back 0.5 BTC but the price is $10,000 each. You've made $4550 ($5000-$450). But you could have spent that $450 on a Bitcoin and now you'd have made $9550 ($10000-$450).

Always keep with Bitcoin itself. Never introduce fiat because you aren't dealing with fiat.

Yeh, sorry about that. Smiley

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May 19, 2014, 06:50:02 AM
 #43

a question for existing users: according to this calculator (https://www.wemineltc.com/usercalc.php), 1MH/s can get ~0.13 LTC per day. How about the genesis-mining plans?

I have had two payments so far, average so far is about 1.4 USD a day in BTC. I think the days will vary but I think 1.4 USD is around 0.13 LTC.

Will see what I get with my next payment, later day.

You also have to take into account that I am not paying any costs for electricity at home, no heat generated, also I can use my PC for gaming instead of having to use it for mining.


Are you using 2MH plan? may I ask how much BTC is paid per day, in total 1.4 or 2.8 USD? If 1.4USD per day per MH, it is equivalent to 100-120GH/s bitcoin miner. Now a 180G bitcoin miner costs around 300-400USD, so if GM is using bitcoin mining and exchange for scrypt coins, then their price is more reasonable. This is just my guess Smiley
I am doing a 1mhash plan which costs 180USD a year. You can set that up by choosing custom when you go to pay.  On average over the 3 days I have had 0.003 BTC sent to me.
Before I bought this plan I was using an ATI R9 280x graphics card which can now have a rest most of the time.  Smiley

That's a pretty awesome deal. That's over 1BTC a year (assuming it remains pretty much constant), or over double what you paid.

unfortunately you cannot calculate like that. the difficulty is increasing, especially now the new ASIC for scrypt coins are coming.

BTC: 1DREAMcn1ELY1cSnNwrjRazGqfW1NyvLJu    DigitalOcean Reg: https://www.digitalocean.com/?refcode=bd7f576a880a
Coinbase: http://bit.ly/1jc0dpQ
Cloud Hashing: https://www.hashyun.com/?f=u86
ranlo
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May 19, 2014, 06:58:07 AM
 #44

a question for existing users: according to this calculator (https://www.wemineltc.com/usercalc.php), 1MH/s can get ~0.13 LTC per day. How about the genesis-mining plans?

I have had two payments so far, average so far is about 1.4 USD a day in BTC. I think the days will vary but I think 1.4 USD is around 0.13 LTC.

Will see what I get with my next payment, later day.

You also have to take into account that I am not paying any costs for electricity at home, no heat generated, also I can use my PC for gaming instead of having to use it for mining.


Are you using 2MH plan? may I ask how much BTC is paid per day, in total 1.4 or 2.8 USD? If 1.4USD per day per MH, it is equivalent to 100-120GH/s bitcoin miner. Now a 180G bitcoin miner costs around 300-400USD, so if GM is using bitcoin mining and exchange for scrypt coins, then their price is more reasonable. This is just my guess Smiley
I am doing a 1mhash plan which costs 180USD a year. You can set that up by choosing custom when you go to pay.  On average over the 3 days I have had 0.003 BTC sent to me.
Before I bought this plan I was using an ATI R9 280x graphics card which can now have a rest most of the time.  Smiley

That's a pretty awesome deal. That's over 1BTC a year (assuming it remains pretty much constant), or over double what you paid.

unfortunately you cannot calculate like that. the difficulty is increasing, especially now the new ASIC for scrypt coins are coming.

True but if they implement the ability to mine what you want, you can mine the less profitable/newer coins before the ASICs hit them and make massive profit if they hit an exchange.


 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




















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May 19, 2014, 08:47:35 AM
 #45

Hey all, to catch up on the recent posts:

We do not mine btc! We are only mining scrypt coins and only offering this service at the moment. We are looking into options to add other algo's like X11 aswell, but other things are priorized higher on our list right now.
Also on our list, but also on lower prio right now, is the possibility to add your own pools you want to have the hashpower pointed to.

For both we have no ETA at all right now, but we will publicly state as soon as we have progress.

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May 19, 2014, 09:08:59 AM
 #46

Hey all, to catch up on the recent posts:

We do not mine btc! We are only mining scrypt coins and only offering this service at the moment. We are looking into options to add other algo's like X11 aswell, but other things are priorized higher on our list right now.
Also on our list, but also on lower prio right now, is the possibility to add your own pools you want to have the hashpower pointed to.

For both we have no ETA at all right now, but we will publicly state as soon as we have progress.
Thanks for the update Smiley

aasl
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May 19, 2014, 09:33:11 AM
 #47

a question for existing users: according to this calculator (https://www.wemineltc.com/usercalc.php), 1MH/s can get ~0.13 LTC per day. How about the genesis-mining plans?

I have had two payments so far, average so far is about 1.4 USD a day in BTC. I think the days will vary but I think 1.4 USD is around 0.13 LTC.

Will see what I get with my next payment, later day.

You also have to take into account that I am not paying any costs for electricity at home, no heat generated, also I can use my PC for gaming instead of having to use it for mining.


Are you using 2MH plan? may I ask how much BTC is paid per day, in total 1.4 or 2.8 USD? If 1.4USD per day per MH, it is equivalent to 100-120GH/s bitcoin miner. Now a 180G bitcoin miner costs around 300-400USD, so if GM is using bitcoin mining and exchange for scrypt coins, then their price is more reasonable. This is just my guess Smiley
I am doing a 1mhash plan which costs 180USD a year. You can set that up by choosing custom when you go to pay.  On average over the 3 days I have had 0.003 BTC sent to me.
Before I bought this plan I was using an ATI R9 280x graphics card which can now have a rest most of the time.  Smiley

That's a pretty awesome deal. That's over 1BTC a year (assuming it remains pretty much constant), or over double what you paid.

unfortunately you cannot calculate like that. the difficulty is increasing, especially now the new ASIC for scrypt coins are coming.

True but if they implement the ability to mine what you want, you can mine the less profitable/newer coins before the ASICs hit them and make massive profit if they hit an exchange.

yet now GM only supports ltc and doge...

BTC: 1DREAMcn1ELY1cSnNwrjRazGqfW1NyvLJu    DigitalOcean Reg: https://www.digitalocean.com/?refcode=bd7f576a880a
Coinbase: http://bit.ly/1jc0dpQ
Cloud Hashing: https://www.hashyun.com/?f=u86
IanFoxley
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May 19, 2014, 09:45:23 AM
 #48

a question for existing users: according to this calculator (https://www.wemineltc.com/usercalc.php), 1MH/s can get ~0.13 LTC per day. How about the genesis-mining plans?

I have had two payments so far, average so far is about 1.4 USD a day in BTC. I think the days will vary but I think 1.4 USD is around 0.13 LTC.

Will see what I get with my next payment, later day.

You also have to take into account that I am not paying any costs for electricity at home, no heat generated, also I can use my PC for gaming instead of having to use it for mining.


Are you using 2MH plan? may I ask how much BTC is paid per day, in total 1.4 or 2.8 USD? If 1.4USD per day per MH, it is equivalent to 100-120GH/s bitcoin miner. Now a 180G bitcoin miner costs around 300-400USD, so if GM is using bitcoin mining and exchange for scrypt coins, then their price is more reasonable. This is just my guess Smiley
I am doing a 1mhash plan which costs 180USD a year. You can set that up by choosing custom when you go to pay.  On average over the 3 days I have had 0.003 BTC sent to me.
Before I bought this plan I was using an ATI R9 280x graphics card which can now have a rest most of the time.  Smiley

That's a pretty awesome deal. That's over 1BTC a year (assuming it remains pretty much constant), or over double what you paid.

unfortunately you cannot calculate like that. the difficulty is increasing, especially now the new ASIC for scrypt coins are coming.

True but if they implement the ability to mine what you want, you can mine the less profitable/newer coins before the ASICs hit them and make massive profit if they hit an exchange.

yet now GM only supports ltc and doge...

You can mine LTC or doge directly but you can also set it to mine, a bit like a multipool, where it will mine the most profitable scrypt coins and then pay you each day as BTC.

Today I had an update to the interface so I can also choose to allocate hash power to Lotto Coins, Feather Coins, Auroracoins as well if you just want to mine those.

ellen_me
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May 19, 2014, 01:34:46 PM
 #49

I have been reading several posts about increase of difficulty in mining. I wonder if Genesis-mining has ways to still mine good amount of coins despite of this?

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May 19, 2014, 01:53:43 PM
 #50

probably that is why they are selling such mining plans.

BTC: 1DREAMcn1ELY1cSnNwrjRazGqfW1NyvLJu    DigitalOcean Reg: https://www.digitalocean.com/?refcode=bd7f576a880a
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ranlo
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May 19, 2014, 05:12:57 PM
 #51

You can mine LTC or doge directly but you can also set it to mine, a bit like a multipool, where it will mine the most profitable scrypt coins and then pay you each day as BTC.

Today I had an update to the interface so I can also choose to allocate hash power to Lotto Coins, Feather Coins, Auroracoins as well if you just want to mine those.

Wait, so the automatic mode is a multipool with more coins? I was under the impression it just meant it would mine either LTC or DOGE, depending on which was more profitable at the time.


 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




















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May 19, 2014, 05:43:16 PM
 #52

You can mine LTC or doge directly but you can also set it to mine, a bit like a multipool, where it will mine the most profitable scrypt coins and then pay you each day as BTC.

Today I had an update to the interface so I can also choose to allocate hash power to Lotto Coins, Feather Coins, Auroracoins as well if you just want to mine those.

Wait, so the automatic mode is a multipool with more coins? I was under the impression it just meant it would mine either LTC or DOGE, depending on which was more profitable at the time.

If you choose the BTC mode, then they mine the most profitable scrypt coins on your behalf and then each day they send you that as a BTC payment.
But it works a bit like a multipool, in that they mine those coins and then each day will convert it to BTC and then send you that as a payment.

Then you have options to choose if you just want to mine Doge, LTC, Auroracoin, FTC etc and you can assign your hash to each. So for example I could choose to have 300khash on Doge, 200khash on LTC and then the rest on Auroracoin for example. Whatever suits a person best really.

More info about coins etc that will be added in this interview.
http://www.cryptoarticles.com/crypto-news/2014/5/18/genesis-mining-start-mining-for-as-low-as-14-cents-per-kilohash-bitcoin-2014-interview#


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May 19, 2014, 07:52:37 PM
 #53

You can mine LTC or doge directly but you can also set it to mine, a bit like a multipool, where it will mine the most profitable scrypt coins and then pay you each day as BTC.

Today I had an update to the interface so I can also choose to allocate hash power to Lotto Coins, Feather Coins, Auroracoins as well if you just want to mine those.

Wait, so the automatic mode is a multipool with more coins? I was under the impression it just meant it would mine either LTC or DOGE, depending on which was more profitable at the time.

If you choose the BTC mode, then they mine the most profitable scrypt coins on your behalf and then each day they send you that as a BTC payment.
But it works a bit like a multipool, in that they mine those coins and then each day will convert it to BTC and then send you that as a payment.

Then you have options to choose if you just want to mine Doge, LTC, Auroracoin, FTC etc and you can assign your hash to each. So for example I could choose to have 300khash on Doge, 200khash on LTC and then the rest on Auroracoin for example. Whatever suits a person best really.

More info about coins etc that will be added in this interview.
http://www.cryptoarticles.com/crypto-news/2014/5/18/genesis-mining-start-mining-for-as-low-as-14-cents-per-kilohash-bitcoin-2014-interview#



Awesome. Thanks for the clarification and the link! It looks like you guys have everything locked down, Smiley.


 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




















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May 20, 2014, 06:42:27 AM
 #54

Big update!

- Added the user poll for the next weeks coin additions
- Added a pic of us at the Bitcoin Conference Amsterdam 2014
- Updated the FAQ with recent questions
- Media coverage updated with the Bitcoin Conference Amsterdam 2014 Interview with Jan

Vote the next coins to be added!

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May 20, 2014, 06:45:57 AM
 #55

Big update!

- Added the user poll for the next weeks coin additions
- Added a pic of us at the Bitcoin Conference Amsterdam 2014
- Updated the FAQ with recent questions
- Media coverage updated with the Bitcoin Conference Amsterdam 2014 Interview with Jan

Vote the next coins to be added!

I'm loving your transparency with all of this. It's a huge +1 for me.

I'm curious as to if you guys are looking for any investors as well (or have investors) for expansion...


 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




















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May 20, 2014, 08:22:13 AM
 #56

Big update!

- Added the user poll for the next weeks coin additions
- Added a pic of us at the Bitcoin Conference Amsterdam 2014
- Updated the FAQ with recent questions
- Media coverage updated with the Bitcoin Conference Amsterdam 2014 Interview with Jan

Vote the next coins to be added!

Voted!

Keep up the good work all of you.

Will try and get some more megahash from you soon Smiley

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May 20, 2014, 11:19:50 AM
 #57

good to have a vote!

BTC: 1DREAMcn1ELY1cSnNwrjRazGqfW1NyvLJu    DigitalOcean Reg: https://www.digitalocean.com/?refcode=bd7f576a880a
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Cloud Hashing: https://www.hashyun.com/?f=u86
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May 20, 2014, 11:35:54 AM
 #58

Hey all, to catch up on the recent posts:

We do not mine btc! We are only mining scrypt coins and only offering this service at the moment. We are looking into options to add other algo's like X11 aswell, but other things are priorized higher on our list right now.
Also on our list, but also on lower prio right now, is the possibility to add your own pools you want to have the hashpower pointed to.

For both we have no ETA at all right now, but we will publicly state as soon as we have progress.
It would be better if we can mine other major cryptocurrencies beside LTC and Doge. I hope you will add them soon. Do you mean that i can add my own pools?

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May 20, 2014, 11:47:05 AM
 #59

Hey all, to catch up on the recent posts:

We do not mine btc! We are only mining scrypt coins and only offering this service at the moment. We are looking into options to add other algo's like X11 aswell, but other things are priorized higher on our list right now.
Also on our list, but also on lower prio right now, is the possibility to add your own pools you want to have the hashpower pointed to.

For both we have no ETA at all right now, but we will publicly state as soon as we have progress.
It would be better if we can mine other major cryptocurrencies beside LTC and Doge. I hope you will add them soon. Do you mean that i can add my own pools?
From the revised FAQ at the top of the page.

Q: Are you going to add the option of adding own pools to point the hashpower to?
A: This is something we have on our consideration list, but at the moment its got a lower priority than other things so we have no ETA at all

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May 20, 2014, 11:48:27 AM
 #60

good to have a vote!

If you follow them on Facebook and like their page then you can view their posts and also keep up to date etc.
They have a poll up on Facebook at the moment allowing you to vote on which coins to add next.

Smiley

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