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Author Topic: Genesis-mining.com || World's leading hashpower provider!  (Read 381780 times)
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Reiva
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September 24, 2016, 08:34:31 AM
 #4381

4 days, no ETH payouts to my wallet Huh Minimum payout ammount is 0.05 ETH, whats wrong with 0.01 ETH?
And where are  the coins? Some internal wallet or what?  Huh
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Genesis-Mining
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September 24, 2016, 11:12:40 AM
 #4382

We pay out every day, but we also need to keep other factors in mind. Small payments cost relatively much in the form of transaction fees. Not an effect anybody will be happy with. Furthermore, more and more wallet providers do not accept or show smaller transactions. To avoid issues for our customers, we're adjusting to evolving conditions. Any mined amount not paid out will be balanced until at a later mining day there is enough for payout. As always you can track payouts to your wallet if you log in to your account and go to the PAYOUTS page (click the left menu item). There is a transaction there for every mining day, even the ones not paid out due to not having reached the payout minimum. You can see more details about mined amounts by hovering your mouse over the (i)nfo icon. Sadly the total balanced amount up to date is not visible yet, but we are looking for a solution for this.

When choosing a wallet, especially on-line wallets, always check if they will accept the amounts we send. Also check if they do not change receiving address! Some providers change the address after each transaction. If the old, used ones remain linked to your account and can be used indefinitely then there is no issue, but in some cases used addresses are discarded completely. We cannot check whether a wallet is valid or not for our payouts, we simply send mined coins to it, so providing a proper address is up to you. Please choose wisely as Bitcoin, and just about all(?) following coins, were designed to have irreversible transactions so once a payment is out, nothing can be done to stop or undo it.
Especially in the case of on-line providers, make sure you use every option available to keep that account safe (enable 2FA, secondary passwords, use complicated passwords, encryption, check domain and ssl certificate validity before entering login credentials, and so on, and so on), and if you have many coins, don't keep them all in one wallet so you don't lose all of them in case of disaster.


Your Genesis Mining Team

oayno
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September 27, 2016, 01:14:41 AM
 #4383

Where is the login page?

https://www.genesis-mining.com/dashboard
Genesis-Mining
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September 27, 2016, 06:27:00 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.

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September 28, 2016, 02:53:24 AM
 #4385

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
 #4386

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
 #4387

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?
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October 01, 2016, 11:01:04 PM
 #4388

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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Seems I deinvested all my btc :(


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October 02, 2016, 05:07:04 PM
 #4389

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.

Icon

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
 #4390

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.
Reiva
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October 02, 2016, 06:27:48 PM
 #4391

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
 #4392

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
 #4393

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.
sbtctalk
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October 03, 2016, 02:13:07 PM
 #4394

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.

13Sk3gsQ1ogrzmyt3xMVvByxcUvZr98kKN
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October 03, 2016, 02:29:56 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.

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October 03, 2016, 03:31:31 PM
 #4396

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
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October 03, 2016, 08:31:17 PM
 #4397

Hope all the best for genesis customers.


 Shocked

For donations: 1B2gU7hHnweSKDFktd5AymGGUfhFvH5Gcf
biggbox
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October 04, 2016, 03:50:26 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.


1Cr9iLWm2dSGH8259VQd2wDzpkR63jGVjW
Zeta0S
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October 04, 2016, 04:58:52 PM
 #4399

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
 #4400

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
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