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Author Topic: Genesis-mining.com || World's leading hashpower provider!  (Read 383590 times)
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Genesis-Mining
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September 27, 2016, 06:27:00 AM
 #4381

Just visit our website and click the Login button at the top. That will take you to the correct Login page. Don't use bookmarks please. For security reasons we can alter page locations, but the Login button will be there always and pointing at the right page.

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Zeta0S
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September 28, 2016, 02:53:24 AM
 #4382

Ethereum is doing well  Smiley To bad Ethereum Mining is sold out at this moment.

For now i have a steady Ethereum mining income, however difficulty is near all-time high.

I guess that on 30 of September when Coinbase releases there ETC funds to there customers, a huge Ethereum Classic dump will happen.

This is what i think will happen, after dumping ETC, people will get 1: Bitcoin, 2: Ethereum, 3: Dash!

So the next week we will see if we can Push through 14 dollar mark and stay there.


What Guys Think Will Happen when Coinbase releases there ETC funds?

Get a HUGE 3% discount with promo code: MOON @ Genesis Mining
https://www.genesis-mining.com
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September 28, 2016, 04:48:37 AM
 #4383

Just visit our website and click the Login button at the top. That will take you to the correct Login page. Don't use bookmarks please. For security reasons we can alter page locations, but the Login button will be there always and pointing at the right page.

I can't login  "Incorrect email or password. You have 5 attempts left."

I just to reset it. "Something went wrong. Please, try again."
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September 28, 2016, 04:56:18 AM
 #4384

Just visit our website and click the Login button at the top. That will take you to the correct Login page. Don't use bookmarks please. For security reasons we can alter page locations, but the Login button will be there always and pointing at the right page.

I requested a support ticket.  I got the support ticket email message.  I tried to login to support website.  Same happened..... login.... wrong password?
Genesis-Mining
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October 01, 2016, 11:01:04 PM
 #4385

Hello Miners,

We are happy to announce that we have just updated our prices for new SHA256/Lifetime contracts. The new prices as listed on our pricing page, https://www.genesis-mining.com/pricing, are now:

  • Gold : 0.2 TH/s = $30
  • Platinum : 2.5 TH/s = $350
  • Diamond : 15 TH/s = $1950

Note that for lifetime contracts as long as the contract is profitable, a small maintenance fee is deducted. For new contracts the daily maintenance fee is $0.00035 per GH/s per day. Already existing contracts do not change and keep the fee as per the Terms, please see the contract for details.

Happy mining!

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October 02, 2016, 05:07:04 PM
 #4386

Hello Miners,

We are happy to announce that we have just updated our prices for new SHA256/Lifetime contracts. The new prices as listed on our pricing page, https://www.genesis-mining.com/pricing, are now:

  • Gold : 0.2 TH/s = $30
  • Platinum : 2.5 TH/s = $350
  • Diamond : 15 TH/s = $1950

Note that for lifetime contracts as long as the contract is profitable, a small maintenance fee is deducted. For new contracts the daily maintenance fee is $0.00035 per GH/s per day. Already existing contracts do not change and keep the fee as per the Terms, please see the contract for details.

Happy mining!


Ha Ha,  you said small...

Anyone dumb enough to invest in gh/s with this company deserves what happens to them, you more like to get your cash back sooner by planting it in the ground then ever getting it from Genesis Mining, but hey there is a sucker born every day so good luck with that.

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PS

Might as well send it to me instead of investing it here, that way at least one of us are happy Smiley


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October 02, 2016, 06:09:35 PM
 #4387

Gold : 0.2 TH/s = $30

Fees
200 GH/s * $0.00035 = $0.07 per Day = $2.10 per Month.

Payout:
200 GH/s = 0.00597229 BTC | $3.69 per Month

3.69 - 2.10 = $1.59 Profit per Month

$30 / 1.59 = 18.87 Months ROI

If difficulty keeps increasing this mining contract is worthless in less than 12 Months.

I strongly advise against an investment.

Even if the Difficulty remains the same, 18 months are ridiculously long.
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October 02, 2016, 06:27:48 PM
 #4388

Gold : 0.2 TH/s = $30

If difficulty keeps increasing this mining contract is worthless in less than 12 Months.

I strongly advise against an investment.

Even if the Difficulty remains the same, 18 months are ridiculously long.

It's increasing all the time, I've allready lost money with this type of contract  Sad But paid much higher price  for less hashing power. And here we go again, "round 2"
Do not invest  Sad
Genesis-Mining
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October 03, 2016, 10:05:06 AM
 #4389

The maintenance fee is a fixed USD value and is indeed small, especially when compared to home mining in general. This fee will also not change for as long as your contract remains profitable, whether that's twelve or eighteen months or twelve years.
However, how big or how small the the impact is on your mining returns depends mostly on Bitcoin value. The lower the value of Bitcoin, the more of the mined coins are needed to pay the USD amount of the fee. The higher the Bitcoin value, the more of the mined coins will remain for payout after payment of the fee. The same small fee mentioned in your contract will still apply if Bitcoin value halves, doubles, triples, quadruples, decuples, centuples, and so on. If you think that is not likely, perhaps you are right and perhaps you are wrong as nothing is set in stone. Bitcoin and other cryptocurrencies are still growing. But of course you should follow your own investigation and instinct before investing, as always.

For those that do not know the fee of their existing contracts, for details on that please View Contract for each order under My Account > My orders. The fee is mentioned under section 2.b.

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October 03, 2016, 01:59:59 PM
 #4390

So your whole calculation base on the mere chance that BTC go up 50, 100 or even 200%?
This is pure gambling. You should move this thread to the Investor-Based Games.

But even for this is that risk-reward ratio just too bad.

Would love to see a statistic how many customers realy got their investment back out.
You could get rid of all doubts at once. But somehow I feel that 75% of people have lost their money here.
Prove me wrong.
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October 03, 2016, 02:13:07 PM
 #4391

So your whole calculation base on the mere chance that BTC go up 50, 100 or even 200%?
This is pure gambling. You should move this thread to the Investor-Based Games.

But even for this is that risk-reward ratio just too bad.

Would love to see a statistic how many customers realy got their investment back out.
You could get rid of all doubts at once. But somehow I feel that 75% of people have lost their money here.
Prove me wrong.


Zeta0S will prove you wrong! How dare you challenge G M. Bitcoin prices will rocket to the moon and you will regret indefinitely! 18.5 months to ROI is a small price to pay for the potential of Bitcoins! How dare you spit on G M. Go bring your hissy fit some where else.

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Genesis-Mining
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October 03, 2016, 02:29:56 PM
 #4392

The maintenance fee is based on actual costs, not on chance or BTC value. That's why it is charged in USD, since the costs to us are charged in USD as well.

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October 03, 2016, 03:31:31 PM
 #4393

The maintenance fee is based on actual costs, not on chance or BTC value. That's why it is charged in USD, since the costs to us are charged in USD as well.

Are my maths right, that maintenance fee translates to a cost of about $336 to mine a coin?

Extraordinary Claims require Extraordinary Evidence
sltrei
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October 03, 2016, 08:31:17 PM
 #4394

Hope all the best for genesis customers.


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For donations: 1B2gU7hHnweSKDFktd5AymGGUfhFvH5Gcf
biggbox
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October 04, 2016, 03:50:26 PM
 #4395

The maintenance fee is based on actual costs, not on chance or BTC value. That's why it is charged in USD, since the costs to us are charged in USD as well.

Are my maths right, that maintenance fee translates to a cost of about $336 to mine a coin?

It takes more than 0.5 BTC to mine 1 BTC. No wonder they are so profitable. They are reusing power from customers who had their contracts terminated.


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October 04, 2016, 04:58:52 PM
 #4396

Can we stop Bashing?  If you not like green cars, do not buy green an green car.


I am thrilled to see upcoming support on Zcash  Smiley

Get a HUGE 3% discount with promo code: MOON @ Genesis Mining
https://www.genesis-mining.com
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October 04, 2016, 09:26:48 PM
 #4397

The maintenance fee is based on actual costs, not on chance or BTC value. That's why it is charged in USD, since the costs to us are charged in USD as well.

Are my maths right, that maintenance fee translates to a cost of about $336 to mine a coin?

It takes more than 0.5 BTC to mine 1 BTC. No wonder they are so profitable. They are reusing power from customers who had their contracts terminated.



Just for the fun of it, I went back to this interview to see how the make up of the Genesis maintenance fee has changed in the last year (since that article in August 15).

Making a couple of suppositions, basically that both then and now they are use the best mining gear available...

In August 2015, Mr. Streng said it cost Genesis ~$60 in electricity to mine one coin, and another $128 in general overhead/fixed costs, a total of $188.
Their maintenance fee then was $0.0015 per Gh/s or $160 per coin, or a ~90% contribution to the total operational costs involved in mining one coin (worth $235).

Supposition One:
If they were using S7 equivalents (new out then) then that would have meant an electricity cost of ~ $0.09 k/Wh.
There's no reason to suspect that unit Icelandic electricity costs have increased over the last year
Supposition Two:
If they are using ~ 0.1 J/Ghs gear now, still paying $0.09, then it now costs Genesis $207 in electricity to mine a coin.
(Difficulty has increased by ~500% and rewards have halved, but miner efficiency has increased)

So, in that year, power cost for Genesis to mine one BTC has increased by $147.
There is no reason to expect fixed costs to have increased, so now it's a total operational cost to Genesis of $335 to produce one BTC, or virtually the same as their current maintenance fee.

From this admittedly loose data, you could say that Genesis have been consistent in charging a maintenance fee that covers their costs.
The fact that customers' net income doesn't live up to hopes is one thing, but calling Genesis scammers solely because of their maintenance charges seems to have no basis in fact.



Extraordinary Claims require Extraordinary Evidence
AleScamHole
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October 04, 2016, 10:43:30 PM
 #4398

The maintenance fee is based on actual costs, not on chance or BTC value. That's why it is charged in USD, since the costs to us are charged in USD as well.

Are my maths right, that maintenance fee translates to a cost of about $336 to mine a coin?

It takes more than 0.5 BTC to mine 1 BTC. No wonder they are so profitable. They are reusing power from customers who had their contracts terminated.



Just for the fun of it, I went back to this interview to see how the make up of the Genesis maintenance fee has changed in the last year (since that article in August 15).

Making a couple of suppositions, basically that both then and now they are use the best mining gear available...

In August 2015, Mr. Streng said it cost Genesis ~$60 in electricity to mine one coin, and another $128 in general overhead/fixed costs, a total of $188.
Their maintenance fee then was $0.0015 per Gh/s or $160 per coin, or a ~90% contribution to the total operational costs involved in mining one coin (worth $235).

Supposition One:
If they were using S7 equivalents (new out then) then that would have meant an electricity cost of ~ $0.09 k/Wh.
There's no reason to suspect that unit Icelandic electricity costs have increased over the last year
Supposition Two:
If they are using ~ 0.1 J/Ghs gear now, still paying $0.09, then it now costs Genesis $207 in electricity to mine a coin.
(Difficulty has increased by ~500% and rewards have halved, but miner efficiency has increased)

So, in that year, power cost for Genesis to mine one BTC has increased by $147.
There is no reason to expect fixed costs to have increased, so now it's a total operational cost to Genesis of $335 to produce one BTC, or virtually the same as their current maintenance fee.

From this admittedly loose data, you could say that Genesis have been consistent in charging a maintenance fee that covers their costs.
The fact that customers' net income doesn't live up to hopes is one thing, but calling Genesis scammers solely because of their maintenance charges seems to have no basis in fact.




lol maybe you should work for genesis, you have the same big business "but we didn't do any thing TECHNICALLY ILLEGAL"   legal garble that got everyone ripped off by them in the first place
i see it much simpler. they are rich, we lost money.  no sense suger coating to blame the victims, this isn't your social media site
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October 05, 2016, 07:37:43 AM
 #4399

lol maybe you should work for genesis, you have the same big business "but we didn't do any thing TECHNICALLY ILLEGAL"   legal garble that got everyone ripped off by them in the first place
i see it much simpler. they are rich, we lost money.  no sense suger coating to blame the victims, this isn't your social media site

Listen, I'm no shill for Genesis or big business and personally think that cloud mining is to be avoided at all costs.
Sure, people are pissed that they're getting dust from their Genesis contracts and I don't blame them in the slightest.
What I'm saying with the above guesstimations is that their maintenance charges seem consistent with the actual increase in the cost of mining and don't seem to be a scam in themselves.
There's never been a Free Money Machine ever, and ASIC's operated by someone else definitely ain't.

Extraordinary Claims require Extraordinary Evidence
robertkedves
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October 06, 2016, 11:24:28 AM
 #4400

So far, genesis seems ok. Not great, but ok.

I have a contract with them and they pay me daily exactly like the estimation I'm making.

Their fee for BTC mining is $0.0004 per GH/s. It seems a little bit high because one of their strong arguments is: "cheap electricity". Anyway, if you include all the costs, it may be a reasonable price for the fee from their point of view (they have to make a profit as well....like...millions of dollars)


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