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

[Zeta0S]

genesis payment stable for now...i hope it will stay like that until hit ROI..better will make ROI faster..

40% before ROI...hehehe

Nice, when did you start my friend, and do you mine only btc or also one of the other coins, like zeta or uno?

[birdcat90]

genesis payment stable for now...i hope it will stay like that until hit ROI..better will make ROI faster..

40% before ROI...hehehe

Nice, when did you start my friend, and do you mine only btc or also one of the other coins, like zeta or uno?

if im not mistaken it was 6 month ago, i only mine btc and never do alt coin..

if bitcoin price up,, that ROI sure will more fast..but who knows what happen in the future

[clarkz99]

Hi, I dont know much about crypto currencies but I am learning and I have contracts with Genesis Mining . Today I recieve about a 70 cent deduction in my payouts for having 100% hashrate on bitcoin.. Now i have baby account and thats alot to me. Is it because the price of bitcoin is falling and is anyone else profit falling much also?

 Should I switch my Hashrate to darkcoin or litecoin instead of 100% on bitcoin? I see that bitcoin was somthing like $230 three months ago because I check it on Coingecko. If it drops that much again I dont want to lose much more than 70 cents in payouts... I see Dash gain and fall in coin price a dollar or few cents on coingeckos 90 day chart but nothing like many dollars like with bitcoin.

 When bitcoin price fall like it has recently is it best to mine altcoin like Genesis Mining gives us Investors ability to change hashrate to the altcoins? Any advice and website links to checkout like coingecko with news would be great.

 Thanks 

[tonycamp]

yes it stills seems reliable to invest this its a good investment site still

[IanFoxley]

Hi, I dont know much about crypto currencies but I am learning and I have contracts with Genesis Mining . Today I recieve about a 70 cent deduction in my payouts for having 100% hashrate on bitcoin.. Now i have baby account and thats alot to me. Is it because the price of bitcoin is falling and is anyone else profit falling much also?

 Should I switch my Hashrate to darkcoin or litecoin instead of 100% on bitcoin? I see that bitcoin was somthing like $230 three months ago because I check it on Coingecko. If it drops that much again I dont want to lose much more than 70 cents in payouts... I see Dash gain and fall in coin price a dollar or few cents on coingeckos 90 day chart but nothing like many dollars like with bitcoin.

 When bitcoin price fall like it has recently is it best to mine altcoin like Genesis Mining gives us Investors ability to change hashrate to the altcoins? Any advice and website links to checkout like coingecko with news would be great.

 Thanks  

Yep, payouts were lower today, Bitcoin value went down so that affects the maintenance fee unfortunately and Bitcoin difficulty went up a little tiny bit yesterday so that also didnt help.

If you change to mine Dash, formerly known as Darkcoin and Litecoin, just be aware you are still getting a Bitcoin payout but it is traded at payout time to whatever the exchange rate is.
BTC/LTC, BTC/Dash etc. Any coin with AUTO next to it works in a similar way.

Dash is an X11 coin, Litecoin is Scrypt so you are not mining those directly.

GM stopped selling Scrypt contracts a while ago now although in the latest webinar it seems as if X11 mining will be soon. Will see.

Looking through my payout history for 50 GH/s I can see that even though payouts are lower than they have been recently, they are still higher than my payouts from late April, May and most of June. That was when Bitcoin value was lower than it is now, so not all doom and gloom I suppose.

[BitcoinNewsMagazine]

If you are going to buy cloud mining you are safer using a company that has their own exchange so you can sell hash if your plans change.

[clarkz99]

Ok thank you guys!! I learned allot I had no idea how that worked Ian with the (Auto) when mining Dash or Litecoin with my hashrate and it converting so thanks allot 

 It will be great if the X11 gets enabled and we can mine Dash with it in Genesis Mining. I want to see there new Live broadcast when it happens if they mention X11. I know they said Genesis Hive is launched but I think thats just for miners and is seperate from buying contracts so I checked the Hive website and exited because I dont know about mining and that world.

[IanFoxley]

Ok thank you guys!! I learned allot I had no idea how that worked Ian with the (Auto) when mining Dash or Litecoin with my hashrate and it converting so thanks allot  

 It will be great if the X11 gets enabled and we can mine Dash with it in Genesis Mining. I want to see there new Live broadcast when it happens if they mention X11. I know they said Genesis Hive is launched but I think thats just for miners and is seperate from buying contracts so I checked the Hive website and exited because I dont know about mining and that world.

I had a look at the webinar again and they mention X11 at around the 43.50 second timepoint.
https://youtu.be/LM0YUEbOGu4?t=43m51s

Ian

[clarkz99]

Ok thank you guys!! I learned allot I had no idea how that worked Ian with the (Auto) when mining Dash or Litecoin with my hashrate and it converting so thanks allot  

 It will be great if the X11 gets enabled and we can mine Dash with it in Genesis Mining. I want to see there new Live broadcast when it happens if they mention X11. I know they said Genesis Hive is launched but I think thats just for miners and is seperate from buying contracts so I checked the Hive website and exited because I dont know about mining and that world.

I had a look at the webinar again and they mention X11 at around the 43.50 second timepoint.
https://youtu.be/LM0YUEbOGu4?t=43m51s

Ian

Thanks for that! I watched it just now and cant wait for the next update. 

[ashfaq]

what is the current roi for genesis??? and also for short term 1 year ,anyone has a rough idea

[Borgminer]

If you are going to buy cloud mining you are safer using a company that has their own exchange so you can sell hash if your plans change.

so true 

[Borgminer]

what is the current roi for genesis??? and also for short term 1 year ,anyone has a rough idea

roi prolly 13 months .

[crazyivan]

If you are going to buy cloud mining you are safer using a company that has their own exchange so you can sell hash if your plans change.

Well this is exactly the reason GM does not want to introduce their own exchange. Cause everyone would sell, dump the price down and leave.

[alienesb]

If you are going to buy cloud mining you are safer using a company that has their own exchange so you can sell hash if your plans change.

Well this is exactly the reason GM does not want to introduce their own exchange. Cause everyone would sell, dump the price down and leave.

Yeah I think that would happen

[IanFoxley]

If you are going to buy cloud mining you are safer using a company that has their own exchange so you can sell hash if your plans change.

Well this is exactly the reason GM does not want to introduce their own exchange. Cause everyone would sell, dump the price down and leave.

Yeah I think that would happen

Well thats always a question someone can ask them at their next webinar. ...

[ashfaq]

what is the current roi for genesis??? and also for short term 1 year ,anyone has a rough idea

roi prolly 13 months .

and how many years does the contract lasts ? i guess 3 years
and plus it has no reselling option .

[IanFoxley]

what is the current roi for genesis??? and also for short term 1 year ,anyone has a rough idea

roi prolly 13 months .

and how many years does the contract lasts ? i guess 3 years
and plus it has no reselling option .

Bitcoin itself will define how long contracts last.  Bitcoin decides the fate not only of cloud mining companies but any company that have invested time and money into developing, apps, exchanges......etc etc

Who knows, basically! Thats my own opinion of course.

[MegaMike]

If you are going to buy cloud mining you are safer using a company that has their own exchange so you can sell hash if your plans change.

Well this is exactly the reason GM does not want to introduce their own exchange. Cause everyone would sell, dump the price down and leave.

This has already been addressed before:

...

3'') The question of why we are not offering hashpower trading is very good and we had long discussions about this already more than a year ago. The reason why we are not doing this is because we would need a licence for securities trading from the SEC. Most of the competitors who offered this service already received subpoenas and are not operating anymore. We have a lot of responsibilities towards our customers and doing anything that threatens our operation to that extent is not acceptable for us.
...

All the best and happy mining!
Marco Streng

According to FinCEN ruling cloud mining companies that simply pay out mined coins to the customer are not labeled money transmitters, see http://www.fincen.gov/news_room/rp/rulings/pdf/FIN-2014-R007.pdf Others that offer markets and exchanges (where the company transfers coins on behalf of customers to other customers) can be labeled as money transmitters.

And this following article is interesting as it tells us that getting proper licenses is (too) costly, and therefor you can assume failing to defend your business in US court as not being a money transmitter is even more costly/deadly: http://www.coindesk.com/bitcoin-law-money-transmission-compliance-avoidance

So... What is safer? Investing using a company that's making sure it's still operational next year and beyond, or investing using a company that may not have the required licensing to service US customers or to operate inside the US?

[alienesb]

If you are going to buy cloud mining you are safer using a company that has their own exchange so you can sell hash if your plans change.

Well this is exactly the reason GM does not want to introduce their own exchange. Cause everyone would sell, dump the price down and leave.

This has already been addressed before:

...

3'') The question of why we are not offering hashpower trading is very good and we had long discussions about this already more than a year ago. The reason why we are not doing this is because we would need a licence for securities trading from the SEC. Most of the competitors who offered this service already received subpoenas and are not operating anymore. We have a lot of responsibilities towards our customers and doing anything that threatens our operation to that extent is not acceptable for us.
...

All the best and happy mining!
Marco Streng

According to FinCEN ruling cloud mining companies that simply pay out mined coins to the customer are not labeled money transmitters, see http://www.fincen.gov/news_room/rp/rulings/pdf/FIN-2014-R007.pdf Others that offer markets and exchanges (where the company transfers coins on behalf of customers to other customers) can be labeled as money transmitters.

And this following article is interesting as it tells us that getting proper licenses is (too) costly, and therefor you can assume failing to defend your business in US court as not being a money transmitter is even more costly/deadly: http://www.coindesk.com/bitcoin-law-money-transmission-compliance-avoidance

So... What is safer? Investing using a company that's making sure it's still operational next year and beyond, or investing using a company that may not have the required licensing to service US customers or to operate inside the US?

Good points new guy

[IanFoxley]

If you are going to buy cloud mining you are safer using a company that has their own exchange so you can sell hash if your plans change.

Well this is exactly the reason GM does not want to introduce their own exchange. Cause everyone would sell, dump the price down and leave.

This has already been addressed before:

...

3'') The question of why we are not offering hashpower trading is very good and we had long discussions about this already more than a year ago. The reason why we are not doing this is because we would need a licence for securities trading from the SEC. Most of the competitors who offered this service already received subpoenas and are not operating anymore. We have a lot of responsibilities towards our customers and doing anything that threatens our operation to that extent is not acceptable for us.
...

All the best and happy mining!
Marco Streng

According to FinCEN ruling cloud mining companies that simply pay out mined coins to the customer are not labeled money transmitters, see http://www.fincen.gov/news_room/rp/rulings/pdf/FIN-2014-R007.pdf Others that offer markets and exchanges (where the company transfers coins on behalf of customers to other customers) can be labeled as money transmitters.

And this following article is interesting as it tells us that getting proper licenses is (too) costly, and therefor you can assume failing to defend your business in US court as not being a money transmitter is even more costly/deadly: http://www.coindesk.com/bitcoin-law-money-transmission-compliance-avoidance

So... What is safer? Investing using a company that's making sure it's still operational next year and beyond, or investing using a company that may not have the required licensing to service US customers or to operate inside the US?

Interesting so companies like Hashnest etc are doing something that could get them into trouble down the road. ..I guess.. unless they can block US customers from trading hashpower. Luckily being a Brit it doesn't affect me hehe