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Author Topic: Genesis-mining.com || World's leading hashpower provider!  (Read 381774 times)
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Wintermute
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August 19, 2014, 09:16:17 AM
 #881

Everyone should read this:

https://bitcointalk.org/index.php?topic=741838.msg8424486#msg8424486

Wow. So my trust in Gaw/Zen is pretty low at this point. Thanks Gavin! Thanks Genesis!
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Nathan101
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August 19, 2014, 03:01:31 PM
 #882


I will watch this whole video later in my spare time.  Cheesy
Spare time?! Wish I was rich like you Tongue



I just wish it is true.  Tongue
Cannot just watch an hour length video on one sitting.  Cheesy  
I agree with you. I have also notice it. When we watch movies there is no problem with time but when we watch tutorials or something like this, its become difficult for us to concentrate for more than 30 minutes.

bitcoinminer007
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August 19, 2014, 03:05:10 PM
 #883

Everyone should read this:

https://bitcointalk.org/index.php?topic=741838.msg8424486#msg8424486

Wow. So my trust in Gaw/Zen is pretty low at this point. Thanks Gavin! Thanks Genesis!

I just visit through your link.Its a new mining service. What is your opinion about them? Are you mining with them?
Daniel007
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August 19, 2014, 03:11:32 PM
 #884

Another video of Stefan explaining our mining! (At HK Bitcoin conference)

https://www.youtube.com/watch?v=-_FO3O5CWG8&feature=youtu.be&t=6m14s
Thanks for sharing the video. I think this kind of video is really helpful for miners to understand the current situation of mining. Do you have any video from Tel Aviv conference?

Nathan101
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August 20, 2014, 04:34:21 AM
 #885


Also my personal vote of approval and appreciation goes to the Genesis team.  You'll have seen my recent comments, and whilst I'm sure you had these matters in hand already, it's always great to look like you are responding to comments and criticisms in a timely manner.  Well done.  I may even expand my hash power soon as my real vote of approval.  Is there a current promo code -come on - I said nice things ;-)

Wow! Thank you! We are really happy to hear that our engagement and service is appreciated by you. There is a lot of things in our pipeline at the moment I am sure you will like. We will do our best and work hard to make our customers happy, as always. Stay tuned!

Exciting times ahead!

Marco
I know Genesis-mining always try to provide the best service for their customers. But what about the profitability level? Day by day its decreasing?

xiaogr
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August 20, 2014, 08:32:29 AM
 #886

GM has to act (and very fast)  if still wants to be part of this "mining-cloud" factory.


www.genesis-mining.com - 3% Promo Code: TRUNK_38
www.hashflare.io - 10% Discount Code: 2450E47A
Wintermute
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August 20, 2014, 09:39:56 AM
 #887

I know Genesis-mining always try to provide the best service for their customers. But what about the profitability level? Day by day its decreasing?

Declining LTC prices

http://www.ltc-charts.com/period-charts.php?period=ytd&resolution=day&pair=ltc-usd&market=btc-e


And rising difficulty

https://bitcoinwisdom.com/litecoin/difficulty

No big surprise that the payouts are dropping. From my point of view the maximum difficulty is reached for now (as long as there is no new hardware). That would be a good sign. Now let's hope altcoin prices finally recover.
xiaogr
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August 20, 2014, 01:06:13 PM
 #888

My latest payout with 45 MH/s 0.0129  Tongue

 Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes

GM please do something with the pool

www.genesis-mining.com - 3% Promo Code: TRUNK_38
www.hashflare.io - 10% Discount Code: 2450E47A
Nathan101
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August 20, 2014, 02:48:52 PM
 #889

I know Genesis-mining always try to provide the best service for their customers. But what about the profitability level? Day by day its decreasing?

Declining LTC prices

http://www.ltc-charts.com/period-charts.php?period=ytd&resolution=day&pair=ltc-usd&market=btc-e


And rising difficulty

https://bitcoinwisdom.com/litecoin/difficulty

No big surprise that the payouts are dropping. From my point of view the maximum difficulty is reached for now (as long as there is no new hardware). That would be a good sign. Now let's hope altcoin prices finally recover.
How can you say hat the maximum difficulty is reached ?

bitcoinminer007
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August 20, 2014, 02:51:23 PM
 #890

GM has to act (and very fast)  if still wants to be part of this "mining-cloud" factory.


I hope Genesis-mining will act fast. As far i have come know about them, that they always concern about their customers. So i think they will act fast.
Daniel007
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August 20, 2014, 02:56:18 PM
 #891

Does the Genesis UI actually display the complete range of coins that Genesis has setup for mining behind the scenes ? Or is Genesis actually mining across a larger selection of coins for its auto multipool ?  I would be good if it was because the real power of Genesis IMHO is the set and forget auto mining feature.  As a follow up question, which exchanges does Genesis use for trading mined coins into the required payout coins ?

No, for our multipool we have nearly every coin on the radar. The reason why we are not enabling all coins to mine in our UI is solely because we are following strict rules and criteria when adding a coin to our UI portfolio. One of these criteria for example that a coin has significant market cap and is backed by a significantly large community behind it.
It is very important for us to keep our clients away from scam coins and we want to support coins that have real potential!

We are going to add more promising coins soon, but please understand our selection process and our strict policy behind it for our users.
I agree with you. Genesis-mining already added 11 coins on their list. If you think about others who are providing mining service like Genesis, it is the highest amount. It is also important to us away from scam coins.

Genesis-Mining
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August 20, 2014, 03:20:20 PM
 #892

As promised, here is a branded picture of our farm we've shown you earlier:

Picture

PS sorry for the bad quality, it was quickly taken with a low quality camera. We will provide a higher quality image soon.

Genesis-Mining
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August 20, 2014, 03:44:31 PM
 #893

Thanks for sharing the video. I think this kind of video is really helpful for miners to understand the current situation of mining. Do you have any video from Tel Aviv conference?

The Tel Aviv Conference was canceled on short-notice because of the political situation. I traveled nevertheless to meet some Bitcoiners and was invited to give a short talk. If I remember correctly the Tel Aviv conference is now scheduled for October.

Cheers, Marco

ellen_me
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August 20, 2014, 04:16:59 PM
 #894


I will watch this whole video later in my spare time.  Cheesy
Spare time?! Wish I was rich like you Tongue



I just wish it is true.  Tongue
Cannot just watch an hour length video on one sitting.  Cheesy  
I agree with you. I have also notice it. When we watch movies there is no problem with time but when we watch tutorials or something like this, its become difficult for us to concentrate for more than 30 minutes.

You nailed it. Maybe it will be great if conferences could be more lively not just informative. :p

Wintermute
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August 20, 2014, 09:59:00 PM
 #895

How can you say hat the maximum difficulty is reached ?

Economic considerations (equilibrium):

Let's take the following example:

A Zeus X6 (20 MH/s) costs + 1 year electricity costs about 940$ (if you are lucky, assuming 0.1 USD per kW/h); in fact most people will pay significantly more for it (VAT, transportation, higher electricity costs etc. will probably mean that most people will effectively pay about >1200$),

In 2014 approximately 5.256 million LTC will be mined, assuming 5.4 USD per LTC, that means 28.3 mn USD.

To cover your cost of 940$ your miner should make a share of 0.003312% of the total pie (otherwise you will mine at a loss)
If this is the case the total hashrate should never be higher than 600 GH/s = 20 MH/s / 0.003312%.

Now take into account that large buyers, manufactuers etc. will get a discount and do not pay 940$ for the package, but rather 700$, then you arrive at an equilibrium level of 810 GH/s.

In other words, no one with a sane mind will invest in a X6 for these prices given the difficulty / LTC price. Thus it is rather unlikely that the hashrate will grow much higher than 800-900 GH/s unless new hardware is available or the LTC price increases again.


https://bitcoinwisdom.com/litecoin/difficulty
Nathan101
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August 21, 2014, 01:48:26 PM
 #896

As promised, here is a branded picture of our farm we've shown you earlier:

Picture

PS sorry for the bad quality, it was quickly taken with a low quality camera. We will provide a higher quality image soon.
Thanks for sharing the photos. Waiting for the high quality photos. Hope get is soon.

Nathan101
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August 21, 2014, 01:55:23 PM
 #897

Thanks for sharing the video. I think this kind of video is really helpful for miners to understand the current situation of mining. Do you have any video from Tel Aviv conference?

The Tel Aviv Conference was canceled on short-notice because of the political situation. I traveled nevertheless to meet some Bitcoiners and was invited to give a short talk. If I remember correctly the Tel Aviv conference is now scheduled for October.

Cheers, Marco
Is there any other Conference is going to be held before Tel Aviv?

Genesis-Mining
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August 21, 2014, 03:25:46 PM
 #898

Our Meme and Poem contest is now live!

Contest

The winner gets a free 5Mh/s hosted scrypt mining contract from us!

Participate, share, enjoy Smiley


Only one day left! Get your poems and memes up Smiley

martinnew
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August 21, 2014, 03:50:58 PM
 #899

Our Meme and Poem contest is now live!

Contest

The winner gets a free 5Mh/s hosted scrypt mining contract from us!

Participate, share, enjoy Smiley


Only one day left! Get your poems and memes up Smiley

Good luck to those who have joined and congrats to the luckiest winner.  Roll Eyes
marife01
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August 22, 2014, 08:50:36 AM
 #900

I have read some entries of the memes and poems contest, some are really cool to read.  Grin
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