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

[chek2fire]

..... running XT means that our users will always be on the largest chain ....

But not on the longest....

I think a more strategic / wise approach it will be to start voting in the blockchain by signing your mined blocks by a message (coinbase blocksize vote) and not start using the BitcoinXT. By signing the blocks you will send your message to the Devs and promote the consensus solution.

Consensus should comes from the market, not a bunch of devs.

and the market especially mining ecosystem say definitely no. Why genesis choose to go against this is something that i cant understand. Maybe they hope to lure some bitcoinXT fans to their mining contracts?

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[tmltd]

Consensus should comes from the market, not a bunch of devs.

I agree that the market decides, but the market is the end users that use Bitcoin as a financial tool and not Devs or miners.
Miners and exchanges need end users that use Bitcoin and not Bitcoins with no use.
IMHO the consensus solution from all sides (devs, miners, nodes) promotes the feeling of stability to the end users and that the Bitcoin ecosystem is a serious financial tool.

[lucasjkr]

..... running XT means that our users will always be on the largest chain ....

But not on the longest....

I think a more strategic / wise approach it will be to start voting in the blockchain by signing your mined blocks by a message (coinbase blocksize vote) and not start using the BitcoinXT. By signing the blocks you will send your message to the Devs and promote the consensus solution.

Consensus should comes from the market, not a bunch of devs.

and the market especially mining ecosystem say definitely no. Why genesis choose to go against this is something that i cant understand. Maybe they hope to lure some bitcoinXT fans to their mining contracts?

As they said, its risk-less to their users. If XT is adopted by the majority of the miners, their users will be mining on the longest chain, which will be secured by the greatest amount of hashing power. Which you'd think would draw along the rest of the ecosystem. And if that threshold isn't met, then they remain on the regular old bitcoin chain anyways.

[speedt_ouch]

So... what is the BIG news about GM ?

I had the time to watch the webseminar :-)

Webcam installation. No Project x.

lol. What a joke.

Genesis-Mining are you serious ? That's your "big news" ? Your "game changing" news ? Shame on you and your communication team.

Right, this is really revolutionary. !!!!

I agree, it is! Users can now watch a farm 24 hours a day, 7 days a week and let GM know when they are being burgled so the police can come straight away. Was a good idea for GM do this!

I cant see shit! Since the next day of the webinar I have been checking the page, cams are always off or down...

[meono]

if you mine an altcoin you must be in altcoin section. Great choise Genesis to destroy your business....

running XT means that our users will always be on the largest chain, regardless of whether a fork happens or not

After announcement like this we see and a bitcoin price drop.
Is a bad choise and has no logic at all from genesis especially when the most pool in the world choose not to follow bitcoinXT

https://bitcoinmagazine.com/21699/major-mining-pools-make-stand-bitcoin-xt-fork-support-bip-100-grows/

i really cant understand how a mining company think that a fork or divide of bitcoin ecosystem will help them for their business plan. this is nonsense. BitcoinXT is an altcoin that it try to hijack bitcoin and nothing more

“While the question whether and how to increase the block-size limit is a technical one, the Bitcoin Core and ‘Bitcoin’ XT issue is political. By introducing ‘Bitcoin’ XT, Gavin Andresen and Mike Hearn are splitting the community. Totalitarianism and dictators cannot co-exist with the free and open-source software spirit.
“Boycott ‘Bitcoin’ XT. Bitcoin Core forever. Gavin Andresen and Mike Hearn should resign,”

F2Pool

God, you're hopeless.

Stop thinking everyone else is not as smart as you, because you're just too dump to understand others decision.

[crazyivan]

I ve been asking for GM ROI proof for over a year. I ve been unable to locate a single person reaching ROI with them. Let me post something another users posted in another BTT thread abot GM.

It has now basically been a year and I am STILL trying to figure out GM's true business model. Let's see... I give them US$1750 for 100MH in early Sept. 2014... within 60 days, they drop the payout by over 70%, which did not map out to the rest of the industry... within another 40 days, they give us scrypt customers a choice... convert to SHA mining or risk having our [LIFETIME] contracts terminated. The icing on the cake is they insult us scrypt customers by only offering us 1GH per 1MH, which everyone knows should be at the very least 20GH per 1MH (circa Sept/Oct 2014). What does this equate to? Again, after (1) year of them playing with my $$ and systematically reducing their payouts to their early adopters, they have paid me back less than $330 of the $1750 I invested with them. Specifically, their daily payouts to me are less than US$0.07 per day at this stage so it can be concluded I will never reach anything near a ROI within my lifetime.

This industry is already full of enough scammers and GM's actions do nothing to promote them as a viable and HONEST service provider. Sooner or later, their unsustainable practices will be their undoing.

=================
Looks like another major (over 40%) reduction in payouts for August 2015 is on track (see below). Coincidence or intentional? You decide...

Scott-

[IanFoxley]

I ve been asking for GM ROI proof for over a year. I ve been unable to locate a single person reaching ROI with them. Let me post something another users posted in another BTT thread abot GM.

It has now basically been a year and I am STILL trying to figure out GM's true business model. Let's see... I give them US$1750 for 100MH in early Sept. 2014... within 60 days, they drop the payout by over 70%, which did not map out to the rest of the industry... within another 40 days, they give us scrypt customers a choice... convert to SHA mining or risk having our [LIFETIME] contracts terminated. The icing on the cake is they insult us scrypt customers by only offering us 1GH per 1MH, which everyone knows should be at the very least 20GH per 1MH (circa Sept/Oct 2014). What does this equate to? Again, after (1) year of them playing with my $$ and systematically reducing their payouts to their early adopters, they have paid me back less than $330 of the $1750 I invested with them. Specifically, their daily payouts to me are less than US$0.07 per day at this stage so it can be concluded I will never reach anything near a ROI within my lifetime.

This industry is already full of enough scammers and GM's actions do nothing to promote them as a viable and HONEST service provider. Sooner or later, their unsustainable practices will be their undoing.

=================
Looks like another major (over 40%) reduction in payouts for August 2015 is on track (see below). Coincidence or intentional? You decide...

Scott-

I posted on another thread a few weeks ago, those with SHA 256 contracts from September would have made ROI already. My 10 GH/s contract on its own I purchased for my comparison videos in middle of September have already paid back and now get profit. It is only the Scrypt contract that did not.

[canth]

Been moved to the altcoin section. Mods still don't understand how XT works. Pathetic.

Wow...talk about immature mods that don't give a damn about what the community wants.

[IanFoxley]

Been moved to the altcoin section. Mods still don't understand how XT works. Pathetic.

Wow...talk about immature mods that don't give a damn about what the community wants.

I am still trying to work out that post.

I know on Reddit it got moved to altcoin area I think, not really sure,  but this thread with Genesis Mining has always been in Altcoin section beause when Genesis Mining first posted here, they only sold Scrypt contracts and they added SHA 256 later.

Ian

[wicks]

Free market (i.e. anarchist) capitalism didn’t fail, rather the world has been doing collectivism, which leads to socialism as we now see occurring.

[TheRealSteve]

not really sure but this thread with Genesis Mining has always been in Altcoin section beause when Genesis Mining first posted here, they only sold Scrypt contracts and they added SHA 256 later.

Yep.
Snapshot from May 2015: https://web.archive.org/web/20150513065006/https://bitcointalk.org/index.php?topic=602022
Snapshot from June 2014: https://web.archive.org/web/20140610123800/https://bitcointalk.org/index.php?topic=602022.0
But why let facts get in the way of a good conspiracy theory?

[canth]

not really sure but this thread with Genesis Mining has always been in Altcoin section beause when Genesis Mining first posted here, they only sold Scrypt contracts and they added SHA 256 later.

Yep.
Snapshot from May 2015: https://web.archive.org/web/20150513065006/https://bitcointalk.org/index.php?topic=602022
Snapshot from June 2014: https://web.archive.org/web/20140610123800/https://bitcointalk.org/index.php?topic=602022.0
But why let facts get in the way of a good conspiracy theory?

Ha - ok good catch.

[Glucose]

I ve been asking for GM ROI proof for over a year. I ve been unable to locate a single person reaching ROI with them. Let me post something another users posted in another BTT thread abot GM.

I agree. I know BTC price is quite shitty these days with the fork drama but I'm suffering a 20-30% reduction in payout these days..



I can't believe GM wants to support Bitcoin XT... Damn... it's worse and worse here. WE as customers should be able to vote and determine GM position.

YES I'm for increasing block size but NO I'm not for a fork and NO I will never support XT

Which blocks have you mined Genesis?

I also want an answer here GM.

I'm less and less confident about their business model... I'm so affraid it's half a ponzi or something like it.. The 8% promo code lately looks just like it to me (especially because they lied about having something "really big" to announce.. Some damn webcam, let me laugh...) + they never answer to negatives posts

[IanFoxley]

I ve been asking for GM ROI proof for over a year. I ve been unable to locate a single person reaching ROI with them. Let me post something another users posted in another BTT thread abot GM.

It has now basically been a year and I am STILL trying to figure out GM's true business model. Let's see... I give them US$1750 for 100MH in early Sept. 2014... within 60 days, they drop the payout by over 70%, which did not map out to the rest of the industry... within another 40 days, they give us scrypt customers a choice... convert to SHA mining or risk having our [LIFETIME] contracts terminated. The icing on the cake is they insult us scrypt customers by only offering us 1GH per 1MH, which everyone knows should be at the very least 20GH per 1MH (circa Sept/Oct 2014). What does this equate to? Again, after (1) year of them playing with my $$ and systematically reducing their payouts to their early adopters, they have paid me back less than $330 of the $1750 I invested with them. Specifically, their daily payouts to me are less than US$0.07 per day at this stage so it can be concluded I will never reach anything near a ROI within my lifetime.

This industry is already full of enough scammers and GM's actions do nothing to promote them as a viable and HONEST service provider. Sooner or later, their unsustainable practices will be their undoing.

=================
Looks like another major (over 40%) reduction in payouts for August 2015 is on track (see below). Coincidence or intentional? You decide...

Scott-

if you followed my videos then you would see also what happened to Scrypt payouts over time and the fact that all the operators out there who offered Scrypt contracts who are still around today suffered the same thing. Theres nothing unusual in what happened as it happened to everyone who is still around today. The only ones who were somehow still managing to pay out magical Scrypt payouts when GM, Zeushash and others were paying out less ended up disappearing anyway or still are around with pie in the sky payouts. We all know what happened to LTC Gear and ScryptCC, well, no need to write about them either.

And that table of payouts, geez cmon, you all should realise that if Bitcoin goes down in value then maintenance fee eats more of the payout, now if Bitcoin had been climbing in value and payouts from GM had been falling then yeh...something to discuss and talk about but we all know that Bitcoin was 300 USD in middle of July and then was at a low of 200 USD just a few days ago, so of course the payouts would have gone down. Even if you go over to Hashnest, similar system, then you can also notice that payouts have gone down also because of the fee.

Infact why not look at my payout thread and you will that in the last two days alone..Hashnets payouts for some of their contracts are already in minus figures and not just UMISOO or S2 contracts.

[dead_m92]

Just to give you guys a quick heads up.

I got about 70 % of my investment back in 6 Months mining.

With the current payout it will take me another 150 Days to get to 100% return.

greetings dead

Hey Dead, just found this old post again.

So how is your ROI now?

Ian

Sorry for late reply

Current state:

I am invested for 344 Days now. Back then i invested 10,441 BTC only sha.

Until now i have this result: 10,06925484 BTC Back means

ROI % = 96,44 % atm.

Still hoping for 1 year roi but with this btc price not possible but as long as i get my daily payout it is all fine not depending on the money from genesis.

greetings dead

[crazyivan]

Just to give you guys a quick heads up.

I got about 70 % of my investment back in 6 Months mining.

With the current payout it will take me another 150 Days to get to 100% return.

greetings dead

Hey Dead, just found this old post again.

So how is your ROI now?

Ian

Sorry for late reply

Current state:

I am invested for 344 Days now. Back then i invested 10,441 BTC only sha.

Until now i have this result: 10,06925484 BTC Back means

ROI % = 96,44 % atm.

Still hoping for 1 year roi but with this btc price not possible but as long as i get my daily payout it is all fine not depending on the money from genesis.

greetings dead

Ok, can you pls provide is with info what is your current payout. Cause if you do reach ROI in 6 months and after that you get daily profit of 0.0000005 BTC, this only means you ve provided a nice interest free loan to Genesis Mining, right? This adds to my initial question, WHAT IS THE POINT of using GM if you cannot make any acceptable return from that? Simple as that.

[Winalunt]

Just to give you guys a quick heads up.

I got about 70 % of my investment back in 6 Months mining.

With the current payout it will take me another 150 Days to get to 100% return.

greetings dead

Hey Dead, just found this old post again.

So how is your ROI now?

Ian

Sorry for late reply

Current state:

I am invested for 344 Days now. Back then i invested 10,441 BTC only sha.

Until now i have this result: 10,06925484 BTC Back means

ROI % = 96,44 % atm.

Still hoping for 1 year roi but with this btc price not possible but as long as i get my daily payout it is all fine not depending on the money from genesis.

greetings dead

Ok, can you pls provide is with info what is your current payout. Cause if you do reach ROI in 6 months and after that you get daily profit of 0.0000005 BTC, this only means you ve provided a nice interest free loan to Genesis Mining, right? This adds to my initial question, WHAT IS THE POINT of using GM if you cannot make any acceptable return from that? Simple as that.

Very much true ..but the only way to profit from mining is to have a big capital..
if you go in with more than 500 coins at least then you can expect a profit of over 40 coins ..

[Tstar]

I think GM is cloud mining  just for their profit and if the price goes above 500 again then some for you.
but expecting profits on 200 $ is just senseless.

[Borgminer]

So far so good pretty stable profits from just 500 ghs .   still debating on whether or not to make a large deposit. to get to my goal of 6TH

[scryptongoloidhuhuhu]

So far so good pretty stable profits from just 500 ghs .   still debating on whether or not to make a large deposit. to get to my goal of 6TH

May I ask how much is the payout yesterday from your 500 GHs? Thanks