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Author Topic: Genesis-mining.com || World's leading hashpower provider!  (Read 385432 times)
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IanFoxley
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January 09, 2015, 09:21:29 AM
 #2241

That will be good Smiley

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Zeta0S
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January 09, 2015, 11:13:48 AM
 #2242

Total hashrate has tanked to 299 PH/s which is just a 3% or so

increase from the last diff. adjustment so I guess it looks like

3% next but not 10%.

https://bitcoinwisdom.com/bitcoin/difficulty

It was as high as 325 PH/s earlier this week.

Edit; dropped to 296,576,204 GH/s just now.

If this keeps up it´ll end up negative  Grin



Hope so Smiley

Get a HUGE 3% discount with promo code: MOON @ Genesis Mining
https://www.genesis-mining.com
tylerderden
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January 10, 2015, 05:07:30 AM
 #2243

let us mine on out own pool please. i seem to be able to do about a million times better on my own so lets get it done!


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galdur
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January 10, 2015, 07:03:56 AM
 #2244

It´s just another bitcoin scam I guess.

Now total hashrate of the network is just about flat on 12/30 but it´s still going to be +8% diff increase because the calculation is based on the last 2016 blocks. Total fabrication.

IanFoxley
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January 10, 2015, 09:11:04 AM
 #2245

let us mine on out own pool please. i seem to be able to do about a million times better on my own so lets get it done!

Just to give you an idea, the daily fees per MH/s at the moment due to the low price of BTC are taking around 16000-17000 sat from your payout each day.

Looking at multipool data from poolpicker. eu I can see the following.

Most pools are paying out ..before fees anything from 20948 satoshi (coinking) down to 14900 Satoshi (LTC Rabbit)

Cleverminings payout in the last 24 hours was 15400 satoshi so that would mean, that you wouldn't get a payout at all, if GM let you mine on Cleverpool, as the daily fee was more than their payout.

So if GM let you mine your own pool, you still are not going to get much anyway as once you detract the fee, it is going to be very similar or worse to what GM is paying out right now, so their Auto Trade function seems to function.

You have that advantage of being able to mine and not have it removed for electricity etc, you pay for that later, although I still do wonder what your home rigs electricity bill each month is. Most ASICs I see, have to have 1000W - 1500 W PSUs attached to them and that must cost a lot each day running at home, although that depends where you live I guess. I know where I live, if I was mining, I would end up paying more in electricity than I was mining which is why I decided to do Cloud Mining in the first place.

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January 10, 2015, 09:42:41 AM
 #2246

So, the criminals in charge of these big mining operations have a cartel where they fabricate this so called difficulty, this much this period, this much that all according to how much payouts they want to scam from customers´payout the next period. Then the customers are left constantly scratching their heads over why their earnings are constantly tanking and why bitcoin edges ever closer to 100? 50? zero?

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January 10, 2015, 09:54:01 AM
 #2247

hashrate 12/30 290,919,288 GH/s

now        290,485,097 GH/s

Estimated Next Difficulty:   43,933,722,318 (+8.10%)
Adjust time:   After 364 Blocks, About 2.4 days

See how they play it ?


Genesis-Mining
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January 10, 2015, 09:56:15 AM
 #2248

Hey All,

We have to apologize the delay of the last payout. After updating our payout-software to the newest version yesterday our additional security mechanisms caused us some delays. We are working hard to get things right. You can expect the payout for yesterday during today.
From tomorrow on everything will be back to normal.

Thank you for your patience.

Your Genesis Mining Team

StoWoo
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January 10, 2015, 01:25:14 PM
 #2249

Hey All,

We have to apologize the delay of the last payout. After updating our payout-software to the newest version yesterday our additional security mechanisms caused us some delays. We are working hard to get things right. You can expect the payout for yesterday during today.
From tomorrow on everything will be back to normal.

Thank you for your patience.

Your Genesis Mining Team

Thanks for the information.
Glucose
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January 10, 2015, 05:49:06 PM
 #2250

Hey All,

We have to apologize the delay of the last payout. After updating our payout-software to the newest version yesterday our additional security mechanisms caused us some delays. We are working hard to get things right. You can expect the payout for yesterday during today.
From tomorrow on everything will be back to normal.

Thank you for your patience.

Your Genesis Mining Team

Yeah no payout, but I'm happy to see this message. Thx for the information. Hope everything will be back to normal :-)

Bitcoin_BOy$
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January 10, 2015, 05:57:07 PM
 #2251

Hey All,

We have to apologize the delay of the last payout. After updating our payout-software to the newest version yesterday our additional security mechanisms caused us some delays. We are working hard to get things right. You can expect the payout for yesterday during today.
From tomorrow on everything will be back to normal.

Thank you for your patience.

Your Genesis Mining Team
What's new in the new payout system ? pay every hour ? or every day or can be edited its more useful to take controll of payment
because transaction fee high so if payment set every 7 days that will be cool
Glucose
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January 10, 2015, 06:04:07 PM
 #2252

Hey All,

We have to apologize the delay of the last payout. After updating our payout-software to the newest version yesterday our additional security mechanisms caused us some delays. We are working hard to get things right. You can expect the payout for yesterday during today.
From tomorrow on everything will be back to normal.

Thank you for your patience.

Your Genesis Mining Team
What's new in the new payout system ? pay every hour ? or every day or can be edited its more useful to take controll of payment
because transaction fee high so if payment set every 7 days that will be cool

I agree. If we could choose payment (1 day - 1 week) it would be really great.

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January 10, 2015, 09:30:06 PM
 #2253

Hey All,

We have to apologize the delay of the last payout. After updating our payout-software to the newest version yesterday our additional security mechanisms caused us some delays. We are working hard to get things right. You can expect the payout for yesterday during today.
From tomorrow on everything will be back to normal.

Thank you for your patience.

Your Genesis Mining Team
What's new in the new payout system ? pay every hour ? or every day or can be edited its more useful to take controll of payment
because transaction fee high so if payment set every 7 days that will be cool



That doesn't matter if they pay once a day /hour/ weekly the % will still be the same so waiting a week to pay .0005% on a weeks payout is the same as paying a hourly .0005% payout.

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samsonn25
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January 10, 2015, 09:45:45 PM
 #2254

hashrate 12/30 290,919,288 GH/s

now        290,485,097 GH/s

Estimated Next Difficulty:   43,933,722,318 (+8.10%)
Adjust time:   After 364 Blocks, About 2.4 days

See how they play it ?



More often than not they usually take down the hashrate few days before  diff jump to male it  appear  smaller
galdur
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January 10, 2015, 10:28:33 PM
 #2255

The scam is that the diff. is based on 2016 blocks, the green line and the eventual difficulty, which lags the grey line which is the last 504 blocks. So, now it looks like 8% increase although the hashrate is just about flat on 12/30 the last diff, adjustments. So they get to scam customers out of payouts for the next two weeks or so.

Marco Krohn (GM)
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January 10, 2015, 11:20:15 PM
 #2256

More often than not they usually take down the hashrate few days before  diff jump to male it  appear  smaller

Our equipment runs 24/7 (sha and scrypt), our uptime is >99%. Taking our miners down for several days would not make sense from an economical perspective.

My best guess is that some big ASIC company shuts down a massive mining farm (we are talking of 20 PH/s) of outdated hardware, in order to prepare it for new hardware.

Best regards,
  Marco
galdur
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January 10, 2015, 11:25:25 PM
 #2257

More often than not they usually take down the hashrate few days before  diff jump to male it  appear  smaller

Our equipment runs 24/7 (sha and scrypt), our uptime is >99%. Taking our miners down for several days would not make sense from an economical perspective.

My best guess is that some big ASIC company shuts down a massive mining farm (we are talking of 20 PH/s) of outdated hardware, in order to prepare it for new hardware.

Best regards,
  Marco


Well, I wasn´t implying that Genesis had anything to do with these things. More like a Chinese cartel. Most mining and dumping of BTC takes place there I guess.

Marco Krohn (GM)
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January 10, 2015, 11:32:57 PM
 #2258

Well, I wasn´t implying that Genesis had anything to do with these things. More like a Chinese cartel. Most mining and dumping of BTC takes place there I guess.

Ah ok Smiley

Correct. Most mining happens in China, and they usually convert a huge amount of the mined BTC to Fiat.

Marco Krohn (GM)
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January 11, 2015, 12:05:43 AM
 #2259

Our IT team is telling me that payouts are being processed now. Within the next few hours everything should hopefully be on track again!

Sorry for the inconvenience.

Best regards,
  Marco
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January 11, 2015, 07:52:08 AM
 #2260

Hey All,

We have to apologize the delay of the last payout. After updating our payout-software to the newest version yesterday our additional security mechanisms caused us some delays. We are working hard to get things right. You can expect the payout for yesterday during today.
From tomorrow on everything will be back to normal.

Thank you for your patience.

Your Genesis Mining Team
What's new in the new payout system ? pay every hour ? or every day or can be edited its more useful to take controll of payment
because transaction fee high so if payment set every 7 days that will be cool



That doesn't matter if they pay once a day /hour/ weekly the % will still be the same so waiting a week to pay .0005% on a weeks payout is the same as paying a hourly .0005% payout.

Icon


For people (like me) with small payout amounts, it actually would matter. Genesis Mining only sends payments above a minimum value, 0.0000543 at the time of this writing. Otherwise, they add it to your "coin balance", which is sent alongside the next payout above the minimum amount. This has happened to me for 23 consecutive days now, and is unlikely to ever change given the current trend of ever-decreasing payouts.

Allowing switching to weekly payments would allow the amount to be paid to climb above this 0.0000543 minimum, and result in a successful payment. Right now I'm hoping for this option, lest my contract be eventually terminated (once payouts decrease below the maintenance fee) without this accumulated "coin balance" ever reaching my wallet.

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