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Author Topic: Genesis-mining.com || World's leading hashpower provider!  (Read 381766 times)
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biggbox
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January 15, 2016, 02:10:13 AM
 #4021

I have my pet issues with GM but lets be objective here:

gm is a business entity. Not a social enterprise or charity. Despite the outspoken support for btc, it is still a business and her goal is to profit.

It needs to pay marketing costs, hire engineers, customer service, operation analysts, legal consultants and more. It has to pay taxes, maintain office space, servers, security systems. The staff deserves corporate benefit and bonuses too, similar to you and me in our day time job.

After dabbling in bitcoins for a few months and had experience in other sites and talked to miners, many of us would notice gm's payouts per 1 th/s do not make economical sense. This is a fact

But what are  the advantages of engaging gm's service: It is the most reputable and open organisation in the business, u don't have to be concerned with setup of miners, endure the noise, and troubleshooting. Time saved is money saved.


edit: grammar

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julian071
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January 15, 2016, 02:40:28 PM
 #4022

I have my pet issues with GM but lets be objective here:

gm is a business entity. Not a social enterprise or charity. Despite the outspoken support for btc, it is still a business and her goal is to profit.

It needs to pay marketing costs, hire engineers, customer service, operation analysts, legal consultants and more. It has to pay taxes, maintain office space, servers, security systems. The staff deserves corporate benefit and bonuses too, similar to you and me in our day time job.

After dabbling in bitcoins for a few months and had experience in other sites and talked to miners, many of us would notice gm's payouts per 1 th/s do not make economical sense. This is a fact

But what is the advantage of engaging gm's service: It is the most reputable and open organisation in the busines, u dont have to be concerned with setup of miners, endure the noise, and troubleshooting. Time saved is money saved.


Excellent points. I still think it should be possible for them to construct a business proposal that is also profitable for the customer, but still, good points.

Another point: what do you guys think will happen to the SHA-256 contracts now BTC is tanking? There will be a diff change in 11 days, but will the diff lower enough to compensate the lower price? Which contracts will not survive and which contracts will?

=P
bapparabi
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January 15, 2016, 02:43:57 PM
 #4023

How can i find what maintenance fee is charging in my account as per my GH/s ..is there any way i can find it what is fee they charging right now
IanFoxley
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January 15, 2016, 02:46:48 PM
 #4024

How can i find what maintenance fee is charging in my account as per my GH/s ..is there any way i can find it what is fee they charging right now

It is in your contract.

Go to your orders page and then you should see view contract, something like that then you bring your contract up and the fee is listed in there.

How long ago did you purchase?

IanFoxley
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January 15, 2016, 02:50:19 PM
 #4025

I have my pet issues with GM but lets be objective here:

gm is a business entity. Not a social enterprise or charity. Despite the outspoken support for btc, it is still a business and her goal is to profit.

It needs to pay marketing costs, hire engineers, customer service, operation analysts, legal consultants and more. It has to pay taxes, maintain office space, servers, security systems. The staff deserves corporate benefit and bonuses too, similar to you and me in our day time job.

After dabbling in bitcoins for a few months and had experience in other sites and talked to miners, many of us would notice gm's payouts per 1 th/s do not make economical sense. This is a fact

But what is the advantage of engaging gm's service: It is the most reputable and open organisation in the busines, u dont have to be concerned with setup of miners, endure the noise, and troubleshooting. Time saved is money saved.


Excellent points. I still think it should be possible for them to construct a business proposal that is also profitable for the customer, but still, good points.

Another point: what do you guys think will happen to the SHA-256 contracts now BTC is tanking? There will be a diff change in 11 days, but will the diff lower enough to compensate the lower price? Which contracts will not survive and which contracts will?
Well 0.0015 USd per GH/s per day contracts are the next ones on the firing line so to speak.
Bitcoin will have to fall to 340 USD for those to be unprofitable or there abouts.

Dont really want to mention Hashnest here but as i have contracts there  too, then the S3s contracts are the next to fall in the way of what I am doing, as their payouts will  be negative now for 10 days unless Bitcoin goes up above 450 USD again.

clgrissom3
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January 15, 2016, 03:56:47 PM
 #4026

Up to 1/13/2016...Another couple of difficulty jumps and this 0.0015 SHA contract will most likely end.  I'm about 40% to the breakeven point at about 5 months.  Do I regret it?  No, I really wanted to find some reliable cloud mining to supplement my hardware running in data centers.  Will I do anymore contracts?  No, I can find plenty of ways to spend my money that actually are profitable.

 

Try Kano CKPool - Tip Addy: 1EAbq69WSa1mNKkoWraEyUfqZkcjDcCzYm
cancerbola
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January 16, 2016, 03:44:40 AM
 #4027

Up to 1/13/2016...Another couple of difficulty jumps and this 0.0015 SHA contract will most likely end.  I'm about 40% to the breakeven point at about 5 months.

Rofl. I joined in late november, and I'm barely at 20% profit, not including the principal right now. Worst part is/was, I joined in near the end of that payout spike in November, so my contract price was high af.
Even worse is that my contract is going to end in a few weeks because of the difficulty increase. Do I regret it? Hell yes, I should had bought the X11 or waited and tried the ETH contract instead.
But the good thing is that I've learnt a lesson: cloud mining is usually not profitable.
biggbox
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January 16, 2016, 07:41:36 AM
 #4028

I have my pet issues with GM but lets be objective here:

gm is a business entity. Not a social enterprise or charity. Despite the outspoken support for btc, it is still a business and her goal is to profit.

It needs to pay marketing costs, hire engineers, customer service, operation analysts, legal consultants and more. It has to pay taxes, maintain office space, servers, security systems. The staff deserves corporate benefit and bonuses too, similar to you and me in our day time job.

After dabbling in bitcoins for a few months and had experience in other sites and talked to miners, many of us would notice gm's payouts per 1 th/s do not make economical sense. This is a fact

But what is the advantage of engaging gm's service: It is the most reputable and open organisation in the busines, u dont have to be concerned with setup of miners, endure the noise, and troubleshooting. Time saved is money saved.


Excellent points. I still think it should be possible for them to construct a business proposal that is also profitable for the customer, but still, good points.

Another point: what do you guys think will happen to the SHA-256 contracts now BTC is tanking? There will be a diff change in 11 days, but will the diff lower enough to compensate the lower price? Which contracts will not survive and which contracts will?

Well. My  last 2 payouts for a 1.9 TH/s SHA256 contract....

14.01.2016     BTC     0.00225101
13.01.2016     BTC     0.00223717


I wonder when will GM execute its contract termination clause.

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Genesis-Mining
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January 16, 2016, 09:06:24 AM
 #4029

Hi Everyone.

Our latest Webinar is up now and can be watched here. This is Episode 6.

https://www.youtube.com/watch?v=flbT9urGenE

Also do not forget as mentioned in the video we are offering free tickets to the Bitcoin Conference in Miami which is held on Jan 21-22 2016

We are going to be there participating and will also have a Booth where you can come and visit us.

To have a chance of winning a ticket please email live@genesis-mining.com and use the Subject line I want free tickets.

More information on the conference can be found here.
http://www.btcmiami.com

Crypto8
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January 16, 2016, 11:11:31 AM
 #4030


Well. My  last 2 payouts for a 1.9 TH/s SHA256 contract....

14.01.2016     BTC     0.00225101
13.01.2016     BTC     0.00223717


I wonder when will GM execute its contract termination clause.


After your payout reaches Btc 0.0000 of course

.
tokingtoking
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January 17, 2016, 04:02:06 AM
 #4031

about 36% drop for today PO. argh...
Makingsure
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January 17, 2016, 04:12:12 AM
 #4032

about 36% drop for today PO. argh...

aye, was thinking the same.   it's evident my contracts will be null soon, thank god they were super small.
strangely i am more at peace as they end, kinda happy to be away from this company i guess Wink
tokingtoking
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January 17, 2016, 06:08:52 AM
 #4033

about 36% drop for today PO. argh...

aye, was thinking the same.   it's evident my contracts will be null soon, thank god they were super small.
strangely i am more at peace as they end, kinda happy to be away from this company i guess Wink

i think so, like movie, torture is more painful than death...
lets hope the movie has happy ending like "missing in action" or "rambo"
biggbox
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January 17, 2016, 10:36:01 AM
 #4034

Same here. The payout is drastic today. I can only look forward for my contract to be nullified. I got into these willingly. Can't blame anyone. Smiley I wonder what will the supporters say since their contracts are creeping towards nullification too.  Grin

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IanFoxley
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January 17, 2016, 10:48:26 AM
 #4035

Same here. The payout is drastic today. I can only look forward for my contract to be nullified. I got into these willingly. Can't blame anyone. Smiley I wonder what will the supporters say since their contracts are creeping towards nullification too.  Grin

Oh well if you mean me as an example...Well I knew the risks of crypto when i signed up so what will be will be.

My S3 contracts on Hashnet aare gonna go bye bye in a week or so possibly but i am not too bothered about that either.

The reason i do my thread is to keep you guys updated on payouts and prices so yeh I could sell my S3 hashpower and get out if i wanted. I would get a very amount of BTC for it though so its not really worth it. I would rather keep the payouts going right to the end so that its kept as a time capsule, as a reference.

That is what i basically do, same with the videos i have done in the past comparing payouts.

So to be honest. if my contracts die..which they have done many times..My Scrypt contract died, some of my contracts in September died, then as i have explained, what will be will be.

I have not invested huge amounts of money though as i would never do that, that is just far too risky and the problem is that people do not understand these risks.

But for me personally i was a home miner, came to these forums, picked up more info so I am always aware that Bitcoin price and difficulty is one day gonna sneak up and bite me on the ass, just never sure of when that will happen.


biggbox
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January 17, 2016, 10:57:07 AM
 #4036

Same here. The payout is drastic today. I can only look forward for my contract to be nullified. I got into these willingly. Can't blame anyone. Smiley I wonder what will the supporters say since their contracts are creeping towards nullification too.  Grin

Oh well if you mean me as an example...Well I knew the risks of crypto when i signed up so what will be will be.

My S3 contracts on Hashnet aare gonna go bye bye in a week or so possibly but i am not too bothered about that either.

The reason i do my thread is to keep you guys updated on payouts and prices so yeh I could sell my S3 hashpower and get out if i wanted. I would get a very amount of BTC for it though so its not really worth it. I would rather keep the payouts going right to the end so that its kept as a time capsule, as a reference.

That is what i basically do, same with the videos i have done in the past comparing payouts.

So to be honest. if my contracts die..which they have done many times..My Scrypt contract died, some of my contracts in September died, then as i have explained, what will be will be.

I have not invested huge amounts of money though as i would never do that, that is just far too risky and the problem is that people do not understand these risks.

But for me personally i was a home miner, came to these forums, picked up more info so I am always aware that Bitcoin price and difficulty is one day gonna sneak up and bite me on the ass, just never sure of when that will happen.



LOL. Chill, friend. We are in the same boat on GM. I'm already at peace with these cloud mining setbacks. Whatever it comes, it comes.

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IanFoxley
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January 17, 2016, 10:58:39 AM
 #4037

Same here. The payout is drastic today. I can only look forward for my contract to be nullified. I got into these willingly. Can't blame anyone. Smiley I wonder what will the supporters say since their contracts are creeping towards nullification too.  Grin

Oh well if you mean me as an example...Well I knew the risks of crypto when i signed up so what will be will be.

My S3 contracts on Hashnet aare gonna go bye bye in a week or so possibly but i am not too bothered about that either.

The reason i do my thread is to keep you guys updated on payouts and prices so yeh I could sell my S3 hashpower and get out if i wanted. I would get a very amount of BTC for it though so its not really worth it. I would rather keep the payouts going right to the end so that its kept as a time capsule, as a reference.

That is what i basically do, same with the videos i have done in the past comparing payouts.

So to be honest. if my contracts die..which they have done many times..My Scrypt contract died, some of my contracts in September died, then as i have explained, what will be will be.

I have not invested huge amounts of money though as i would never do that, that is just far too risky and the problem is that people do not understand these risks.

But for me personally i was a home miner, came to these forums, picked up more info so I am always aware that Bitcoin price and difficulty is one day gonna sneak up and bite me on the ass, just never sure of when that will happen.



LOL. Chill, friend. We are in the same boat on GM. I'm already at peace with these cloud mining setbacks. Whatever it comes, it comes.

 No worries, I am chilling Smiley Now if i had invested 1 million dollars, probably not but you know Smiley

Crypto8
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January 17, 2016, 12:44:00 PM
 #4038

The average ROI you can expect on GM is about 30%, every new contract buyer should know that

.
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January 17, 2016, 01:21:45 PM
 #4039

1TH/s sha256 BTC balance of 0.00178768 successfully added to your account on 2016-01-17T12:00:00+00:00 day really? rest in peace my U$419.00, never ROI  Embarrassed

Birth: 17/12/2015
Death: Coming soon   Cry
IanFoxley
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January 17, 2016, 01:44:31 PM
 #4040

1TH/s sha256 mining 0.00194001 day Really?, rest in peace my U$419.00  Embarrassed Embarrassed Embarrassed Embarrassed Embarrassed Embarrassed Embarrassed Embarrassed Embarrassed Embarrassed Embarrassed Embarrassed

Lets compare 1THs payouts today with GM and hashnest, info taken based on my contracts of 50GH/s divided by 50 to get figure per 1GH/s and then multiplied by 1000
Always good to compare. @src76. Perhaps your fee is at 0.00095 USD per GH/s per day as i do not have a contract with that fee. You can check in your contract. But it seems to be in the middle of my 0.00099 USD and 0.00089 USD contracts

All payouts after maintenance fee removed. As GM has not paid out yet today then i will also base my hashnest payouts on yesterday also for fairness.

GM contracts at 0.0015 USD  1TH/s payout approx 0.00059940

GM contracts at 0.0012 USD  1TH/s payout approx 0.00135820

GM contracts at 0.00099 USD  1TH/s payout approx 0.00188940

GM contracts at 0.00089 USD 1TH/s payout approx  0.00214240

GM contracts at 0.00079 USD 1TH/s payout approx  0.00244320

Hashnest S3  at 0.00192 USD 1TH/s payout approx -0.00013900 BTC     A Minus Payout

Hashnest S4  at 0.001625 USD 1TH/s payout approx 0.00048980

Hashnest S5  at 0.001175 USD 1TH/s payout approx  0.00145180

Hashnest S7 at  0.0005796 USD 1TH/s payout approx 0.00272300

As you can see the lower the maintenance fee are for contracts then generally the better the payout.

For reference here was BTC AUTO payout with 20MH/s X11. 20MHs because it costs 420 USD, 1 USD more than 1TH/s SHA 256 with Genesis Mining

GM X11 BTC AUTO payout for 20 MH/s was 0.00352260 BTC

              

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