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

[flyingplows]

when is project X? is it abandoned? i like GM but their price and fees are insanely huge at the moment, maybe project X will be worth to invest a few $... cause, u know, after the collapse of hashprofit, there should be a significant drop in x11 difficulty shouldn't it, lol  NOT 

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[Endersgamer]

Ghs still got a tiny payout

but Mhs payout is DEAD

[tylerderden]

yeah this is fubar

[IanFoxley]

Just thought I would post this here as even though it not directly GM, it does show you that GM is trying as the payouts with SHA 256 compared to other cloud mining companies is not so bad..

For example My SHA 256 payout with GM yesterday for 10GH/s    
0.00006408 BTC

GAW miners SHA 256 Hashlet Genesis  payout yesterday for 15 GH/s
0.00003024 BTC

GAW miners SHA 256 Hashlet Genesis payout for today for 15 GH/s  
0.00002352

Genesis Mining SHA 256 10GH/s payout for today.
0.00006194

and then I get this when I log into Zeushash.´So not only have they froze Scrypt, they are about to freeze SHA 256 as well...

Dear ZeusHash customers,

As Bitcoin price witnessed significant and continuous dropping lately, the daily payouts of GHS will not be able to cover maintenance fees (now at $0.0023 per GHS per day) very soon. As you can see the payouts today have already been eaten up by 98%+ of maintenance fees.

According to our Terms, “in case the daily mining return is lower than the maintenance fee for at least 10 days in a row”, we’ll have to cease the operation of our mining farms and freeze all GHS contracts, which is a forced measure when there’s no mining profitability.

We’d like to warn you not to purchase more GHS as it’s not the best time for investment. And we are working on different plans for your profits when the conditions for freezing GHS contracts are met. The final solution will be released then.

As a dedicated cloud mining platform, ZeusHash will continue its efforts to seek for better solutions to deliver more cost-efficient cloud mining contracts. Negotiations with our partners are going on smoothly and it won’t be long before the new contracts are available.

[siampumpkin]

I haven't got anything in days from my 8 MH. It is only a matter of time before Genesis pulls the plug on this scam. It is obvious they are not mining anything as I can earn more with a gridseed orb than my 8 MH earns. 

[Rizla2345]

Meanwhile at a scamsters convention down in Florida. Sleazy or what ?

[IanFoxley]

So, are you saying that all those people in the above picture are scamsters?? Hope they don't find out, you would have a lot of people sueing you for libel...

Perhaps GM might start accepting Paycoin for hashpower purchases.

Would cause a stir. Can you imagine??

GM accepting Paycoins for hashpower and yet GAW miners doesn't accept any purchases with their own coin..

Food for thought!

Is it cold in Miami btw..Marco, why are you wearing a jumper?? lol

[IanFoxley]

I haven't got anything in days from my 8 MH. It is only a matter of time before Genesis pulls the plug on this scam. It is obvious they are not mining anything as I can earn more with a gridseed orb than my 8 MH earns.  

I explained to you already..go and see what 35 US Cents is in BTC right now. 35 Cents being close to what your daily fee is to pay for electricity and maintenance.... BTC being about 200 USD at the moment, was 280 USD a week ago.

173680 is what the daily fee takes out of your payout now due to the lower value of BTC.. Think of what coins you could buy for that.

My 1 year Scrypt contracts pay me 0.5 LTC a day with 22 or so MH/s  as there were no fees..

The rest of my Scrypt hashpower gives me a small amount of LTC, so small that is displays as 0.00000000...180 + MH/s!! ...why...because that has daily fees. Do you see me moaning about it.. No, because I understand it. If BTC was 400 USD ór 500 USD then nobody would be blaming or moaning or whatever..

If GM had kept the daily fee at 0.08 USD per MH/s like other companies do, then you would be in the ..20 days in a row of zero payouts before your contract is terminated situation right now. Be thankful for that.

Zeushash stopped paying out with their Scrypt contracts in December, GAW miners have been paying 1 satoshi to miners for weeks and weeks, if they did not decide to convert to stakers.
My LTCgear shares...hmm well maybe I might get paid for those one day.who knows...

[Genesis-Mining]

Hey All,

I want to distantiate myself from any wrong implications based on the above foto. Genesis Mining is not involved in any sense with Gawminers and their business.

MS

[Rizla2345]

Hey All,

I want to distantiate myself from any wrong implications based on the above foto. Genesis Mining is not involved in any sense with Gawminers and their business.

MS

That happy scamsters image will be around. The internet never forgets.

[Zeta0S]

Hey All,

I want to distantiate myself from any wrong implications based on the above foto. Genesis Mining is not involved in any sense with Gawminers and their business.

MS

That happy scamsters image will be around. The internet never forgets.

It`s not nice to say. GM always honored the contract. This is not Hashie.

[takkaros]

I have to say that GM is gaining more of my trust each day. I had no payments coming for 4-5 days since the day I bought the contract and it was resolved quickly after I filed a ticket. One thing that I don't enjoy about the site for now is the fact that it doesn't provide good information about how much BTC I have accumulated since the last payout. This would give me confidence that my hashpower is up and running!

[IanFoxley]

Day 125 Comparison

https://bitcointalk.org/index.php?topic=768931.msg10189871#msg10189871

[samsonn25]

I haven't got anything in days from my 8 MH. It is only a matter of time before Genesis pulls the plug on this scam. It is obvious they are not mining anything as I can earn more with a gridseed orb than my 8 MH earns. 

I guess their maintenence which includes electricity and labor costs, which the home miner would not expect a salary so they dont want to work for free, and have to pay location costs too.

[DisaBit]

I have 130.7 MH/s Scrypt "Life" contract pointed at BTC(Auto) and I am currently getting nothing for it.
My 0.02TH/s SHA contract is pulling in +-0.000011800 BTC per day.
I paid over $2000 for all of this hashing power TWO months ago.
I earned $0.26 in the last 7 days mining interval.
Going to try redirecting Scrypt to Reddcoin, or will Dogecoin be more 'rewarding', i.e. will I actually get to see a payout?

[Wintermute]

I have 130.7 MH/s Scrypt "Life" contract pointed at BTC(Auto) and I am currently getting nothing for it.
My 0.02TH/s SHA contract is pulling in +-0.000011800 BTC per day.
I paid over $2000 for all of this hashing power TWO months ago.
I earned $0.26 in the last 7 days mining interval.
Going to try redirecting Scrypt to Reddcoin, or will Dogecoin be more 'rewarding', i.e. will I actually get to see a payout?

Unfortunately it will not change anything. The other scrypt providers stopped payouts long time ago (Gawminers, Zeushash). Both of them had much higher maintenance fees (8 cents). Genesis Mining was only charging about 4.5 Cent per MH/s, but due the collapse of altcoin prices and the low BTC prices this is not covering the cost anymore.

This might end the contract within the next 2-3 weeks. Unfortunately they cannot use scrypt hardware to mine sha coins. So the only hope is that the altcoin price recovers, but tbh it does not look like it.

[Wintermute]

I haven't got anything in days from my 8 MH. It is only a matter of time before Genesis pulls the plug on this scam. It is obvious they are not mining anything as I can earn more with a gridseed orb than my 8 MH earns.  

I guess their maintenence which includes electricity and labor costs, which the home miner would not expect a salary so they dont want to work for free, and have to pay location costs too.

10-12 Watt per Mh/s for the miner + cooling is realistic. With 10 Cents per kW/h this means about 3 Cents per day. That leaves 1.5 Cent for rent, to cover machine failures, labor cost and so on.

If you deduct the electricity cost from your mining output then most miners will operate on a loss.

[siampumpkin]

I have pretty much given up on getting anything out of my 8 MH. I just switched my allocation to Lotto coin just for the psychological benefit that I might actually get a full coin of something each day. LOL  

[siampumpkin]

Just checked my account and I haven't received any payout in the last 2 days. Anyone else having a similar problem? 

[Zeta0S]

Just checked my account and I haven't received any payout in the last 2 days. Anyone else having a similar problem? 

No, got them each day