Genesis-mining.com || World's leading hashpower provider!

[galdur]

I thought that it was all cast in stone by bullet-proof mathematical formulas out of some idiot-savant´s ass. And now it´s being interpreted all over the map. No wonder that what´s being mined constantly keeps tanking.

That's why the re-target happens every couple of thousand blocks: over few blocks, randomness dominates, over many blocks, statistics do.

Yeah I guess. Nothing random about this chart tho. Consistent free-fall.

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[fairglu]

Yeah I guess. Nothing random about this chart tho. Consistent free-fall.

You're in 6m scale, statistics do dominate ;-)

[galdur]

Yeah I guess. Nothing random about this chart tho. Consistent free-fall.

You're in 6m scale, statistics do dominate ;-)

Yeah, but this chart is as bearish as bearish can be so chances are very good that we´ll be looking at basically the same chart in another six months.

[fairglu]

Yeah, but this chart is as bearish as bearish can be so chances are very good that we´ll be looking at basically the same chart in another six months.

Quite possibly until the next halving in 2016 actually, the USD is on a bull run, and will likely be for some time.
Might come right on time for the next global crisis though. The million bitcoin question is who or what in the crypto world will have survived and still be around.

[Wintermute]

In related news :

https://www.reddit.com/r/Bitcoin/comments/2rnzlj/message_from_havelock_investments_related_to_peta/


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Dear Unit Holders,

Under current market conditions with low BTC rate and rising network difficulty, we have come to a point where mining revenue will no longer cover hosting costs. We would like to present 2 possible scenarios for which PETA unit holders can place their vote (see link below):

1) Liquidation of all assets of PetaMine, this means we will sell all hardware including underlying liabilities with suppliers to a third party. Current liabilities include energy contract until the end of May 2015, which can not be terminated prematurely. We estimate that this option would yield a one time dividend of 0.00025 BTC per unit (dependent on BTC rate and negotiations). After one time dividend payout, PETA will be delisted from the Havelock platform.

2) We continue with the current situation and dividends will be paid if mining revenue covers the hosting costs. This situation will only occur if BTC-rate increases sufficiently. Under current conditions, mining revenue does not cover hosting costs, incurred losses will be compensated from future hardware sale. If losses exceed the market value of the hardware, we remain the right to prematurely liquidate all assets to cover for these losses.

Option 1 is a more conservative scenario while option 2 is more speculative and will only yield value if BTC rate rises significantly and network hashrate remains stable.

Unit holders can place their vote until Wednesday, January 14th 2015, 12:00 GMT. Votes will be weighted based on the amount of units of each individual unit holder.

Click the link below to place your vote: --LINK REMOVED--

Team CryptX

Thank you for investing with Havelock Investments! --LINK REMOVED--

------------

[Glucose]

In related news :

https://www.reddit.com/r/Bitcoin/comments/2rnzlj/message_from_havelock_investments_related_to_peta/


------------
Dear Unit Holders,

Under current market conditions with low BTC rate and rising network difficulty, we have come to a point where mining revenue will no longer cover hosting costs. We would like to present 2 possible scenarios for which PETA unit holders can place their vote (see link below):

1) Liquidation of all assets of PetaMine, this means we will sell all hardware including underlying liabilities with suppliers to a third party. Current liabilities include energy contract until the end of May 2015, which can not be terminated prematurely. We estimate that this option would yield a one time dividend of 0.00025 BTC per unit (dependent on BTC rate and negotiations). After one time dividend payout, PETA will be delisted from the Havelock platform.

2) We continue with the current situation and dividends will be paid if mining revenue covers the hosting costs. This situation will only occur if BTC-rate increases sufficiently. Under current conditions, mining revenue does not cover hosting costs, incurred losses will be compensated from future hardware sale. If losses exceed the market value of the hardware, we remain the right to prematurely liquidate all assets to cover for these losses.

Option 1 is a more conservative scenario while option 2 is more speculative and will only yield value if BTC rate rises significantly and network hashrate remains stable.

Unit holders can place their vote until Wednesday, January 14th 2015, 12:00 GMT. Votes will be weighted based on the amount of units of each individual unit holder.

Click the link below to place your vote: --LINK REMOVED--

Team CryptX

Thank you for investing with Havelock Investments! --LINK REMOVED--

------------

With BTC price crashing I hope GM will hold on... :-/

Marco or someone in the GM team : could you assure us everything is "ok" on your side ? I can imagine it's not the best price/ROI situation but if you could just confirm us that you won't close anysoon, people would be investing more

[Zeta0S]

Bitcoin Difficulty:    43,971,662,056
Estimated Next Difficulty:    43,711,600,885 (-0.59%)  This (negative) number will go up Hugh time the next 6 weeks.

Lower Diff means easer mining for us. So GM must hold on bit more 

[samsonn25]

Bitcoin Difficulty:    43,971,662,056
Estimated Next Difficulty:    43,711,600,885 (-0.59%)  This (negative) number will go up Hugh time the next 6 weeks.

Lower Diff means easer mining for us. So GM must hold on bit more 

Bitcoin Difficulty has gone up for 17 straight months at least, the chances of February difficulty being lower than January are less than 7%

[samsonn25]

Yeah I guess. Nothing random about this chart tho. Consistent free-fall.

You're in 6m scale, statistics do dominate ;-)

Yeah, but this chart is as bearish as bearish can be so chances are very good that we´ll be looking at basically the same chart in another six months.

[Zeta0S]

Bitcoin Difficulty:    43,971,662,056
Estimated Next Difficulty:    43,711,600,885 (-0.59%)  This (negative) number will go up Hugh time the next 6 weeks.

Lower Diff means easer mining for us. So GM must hold on bit more  

Bitcoin Difficulty has gone up for 17 straight months at least, the chances of February difficulty being lower than January are less than 7%

Maybe we are lucky and the diff will go down 30% in the next 2 months
cex.io stopt mining to.

[Marco Krohn (GM)]

With BTC price crashing I hope GM will hold on... :-/

Marco or someone in the GM team : could you assure us everything is "ok" on your side ? I can imagine it's not the best price/ROI situation but if you could just confirm us that you won't close anysoon, people would be investing more

Genesis Mining is conservative when it comes to the financial side. The "never invest more (in crypto) than you can afford to lose" was followed by us all the time. The Bitcoin price is certainly not at a level which we hoped for, but we are very optimistic that the bottom is reached now, and that price will look better going forward.

Transactions in the Bitcoin economy are on an all-time high, and this is a very good sign!

https://blockchain.info/charts/n-transactions-excluding-popular?showDataPoints=false&timespan=2year&show_header=true&daysAverageString=7&scale=0&address=

To clearly answer your question: we will continue our business as usual and will honor all our contractual obligations!

[freavida]

Hi GM,

I would like to ask when will you fix the issue with delayed payout?

Thanks!

[Marco Krohn (GM)]

Hi GM,

I would like to ask when will you fix the issue with delayed payout?

Thanks!

I am not aware there are problems with delayed payouts. If there is an issue please file a support ticket.

Delayed payouts can happen for three of reasons: (i) credit card payments (payouts will accumulate for a number of days in your account),  (ii) small payouts (below the dust limit, will accumulate in your account, until they are above the dust limit), (iii) no payout address registered (coins will accumulate in your account).

By the way: all transaction fees are paid by Genesis Mining, so this does not affect anyone's payouts.

Hope this helps,
  Marco

[freavida]

Hi GM,

I would like to ask when will you fix the issue with delayed payout?

Thanks!

I am not aware there are problems with delayed payouts. If there is an issue please file a support ticket.

Delayed payouts can happen for three of reasons: (i) credit card payments (payouts will accumulate for a number of days in your account),  (ii) small payouts (below the dust limit, will accumulate in your account, until they are above the dust limit), (iii) no payout address registered (coins will accumulate in your account).

By the way: all transaction fees are paid by Genesis Mining, so this does not affect anyone's payouts.

Hope this helps,
  Marco

Hi Marco,

Thank you for your reply. I already file a support ticket and has some email exchanges with Craig Kiltie. He said that they are discovering issues after the upgrade last week, they thought it was already resolved but they found out that payouts have not been going out properly for those with contracts that were purchased or upgraded over the last few days.

I purchased a contract last January 12, 2015. I just want to know when will be the target date of restoration. As a newbie I am a bit anxious though your customer service answer every e-mail/questions that I have. I plan to purchase additional hash power on my current plan if the result is good.

[Morenod]

holy cow with the payout

its very low right now

[alienesb]

holy cow with the payout

its very low right now

I haven't seen a scrypt payout since the 12th.

[Marco Krohn (GM)]

Thank you for your reply. I already file a support ticket and has some email exchanges with Craig Kiltie. He said that they are discovering issues after the upgrade last week, they thought it was already resolved but they found out that payouts have not been going out properly for those with contracts that were purchased or upgraded over the last few days.

I purchased a contract last January 12, 2015. I just want to know when will be the target date of restoration. As a newbie I am a bit anxious though your customer service answer every e-mail/questions that I have. I plan to purchase additional hash power on my current plan if the result is good.

I just talked with our backend IT guys. It seem I was not 100% right: there are a few cases where there was a problem with the payout (about 10 accounts). Please send me your ticket number as PM and I will double-check with our IT team.

Sorry for the inconvenience.

Best regards,
  Marco

[IanFoxley]

holy cow with the payout

its very low right now

I haven't seen a scrypt payout since the 12th.

Not even 0.00000 payouts which when you move the mouse over the i next to those payouts, are actually minimal ones they could not send?

[alienesb]

holy cow with the payout

its very low right now

I haven't seen a scrypt payout since the 12th.

Not even 0.00000 payouts which when you move the mouse over the i next to those payouts, are actually minimal ones they could not send?

Nada

[crawler]

In the beginning of 2015 ive had some single days without payout, but now there are two consecutive days @ 20mh scrypt... looks bad
another small contract didnt payout for over 10 days now...

the oldest contract without fees is paying out around 0,00025, dropping down very slowly, but im sure itll keep on going for a while.

the end seems to be near