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Author Topic: Genesis-mining.com || World's leading hashpower provider!  (Read 385543 times)
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IanFoxley
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September 16, 2015, 03:16:23 PM
 #3181

I'm new in bitcoin mining. I have a question. Is there anyway to calculate the mining daily profit at genesis-mining?
I know it depends on difficulty but I want a rough result. for example if I buy 1TH/s for 419$, how much I will profit every day?
And please if you have answer, give the calculations. Thanks.

If you go to my thread here you can get my daily payouts and multiply them by 20 to get a typical 1TH/s payout at the moment.

I have just purchased 50GH/s at the new fee and will add that to my thread soon so will have 50GH/s payouts at the old maintenance fee and the new one as well.
Will be interesting to compare

My thread is here.
https://bitcointalk.org/index.php?topic=768931.msg12429254#msg12429254


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September 16, 2015, 03:22:21 PM
 #3182

BIG News!

Hello miners!

I know that we end every email to you saying how much we appreciate having you as a customer, but we realize that actions often speak louder than words.

So we’ve got some BIG news that I think you will be happy to hear.

Due to recent improvements in new hardware and infrastructure, we are pleased to announce we are able to decrease maintenance from 0.0015 to 0.0012 USD per Gh/s per day for purchases starting from September 16th.

This represents an increase in payouts by over 60% at the current Bitcoin price and difficulty.

We look at our customers as our partners and when we are able to increase our efficiency, it’s only fair and responsible to pass those savings on to you.

As always, thank you for being a customer of Genesis Mining and growing with us over the last 2 years. We look forward to many years of service ahead as we all grow together.

Sincerely,

Marco Streng

Nice, love to see the older contracts get a small reduction to.

Get a HUGE 3% discount with promo code: MOON @ Genesis Mining
https://www.genesis-mining.com
IanFoxley
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September 16, 2015, 04:58:30 PM
 #3183

Um, wouldn't a decrease in maintenance be applicable to ALL customers not just new ones? You're not passing anything along to your partners with this.

So when you purchased an Antminer S5 and then the S7 came along. Did you write to Bitmain to say that you want them to send you the parts to turn your S5 into a S7 as the S7 was more power efficient and you felt cheated as you were an old customer and not a new one.

Just wondering!

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September 16, 2015, 05:31:43 PM
 #3184

Um, wouldn't a decrease in maintenance be applicable to ALL customers not just new ones? You're not passing anything along to your partners with this.

So when you purchased an Antminer S5 and then the S7 came along. Did you write to Bitmain to say that you want them to send you the parts to turn your S5 into a S7 as the S7 was more power efficient and you felt cheated as you were an old customer and not a new one.

Just wondering!

That's not the same thing but nice try. With Bitmain I have the option of selling my hardware or even my hash at Hashnest; that's not the case here.

So, you are the official shill of this thread right?
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September 17, 2015, 01:45:19 AM
 #3185

BIG News!

Hello miners!

I know that we end every email to you saying how much we appreciate having you as a customer, but we realize that actions often speak louder than words.

So we’ve got some BIG news that I think you will be happy to hear.

Due to recent improvements in new hardware and infrastructure, we are pleased to announce we are able to decrease maintenance from 0.0015 to 0.0012 USD per Gh/s per day for purchases starting from September 16th.

This represents an increase in payouts by over 60% at the current Bitcoin price and difficulty.

We look at our customers as our partners and when we are able to increase our efficiency, it’s only fair and responsible to pass those savings on to you.

As always, thank you for being a customer of Genesis Mining and growing with us over the last 2 years. We look forward to many years of service ahead as we all grow together.

Sincerely,

Marco Streng

LOL big news indeed, now all we need to do to "save" $$ is you guessed it, spend more money.

Hey Marco, here is an idea how about actually saving us money by lowering your already paying customers maintenance fees instead of just new customers?


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PS

Oh just saw the "gift" email. now seems to me a gift is given hence the name... But paying for the gift?


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September 17, 2015, 07:55:00 AM
 #3186

BIG News!

Hello miners!

I know that we end every email to you saying how much we appreciate having you as a customer, but we realize that actions often speak louder than words.

So we’ve got some BIG news that I think you will be happy to hear.

Due to recent improvements in new hardware and infrastructure, we are pleased to announce we are able to decrease maintenance from 0.0015 to 0.0012 USD per Gh/s per day for purchases starting from September 16th.

This represents an increase in payouts by over 60% at the current Bitcoin price and difficulty.

We look at our customers as our partners and when we are able to increase our efficiency, it’s only fair and responsible to pass those savings on to you.

As always, thank you for being a customer of Genesis Mining and growing with us over the last 2 years. We look forward to many years of service ahead as we all grow together.

Sincerely,

Marco Streng

Looks just more and more like a ponzi to me... How to attract new customers ?? Lower your prices...

IanFoxley
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September 17, 2015, 07:57:47 AM
 #3187

BIG News!

Hello miners!

I know that we end every email to you saying how much we appreciate having you as a customer, but we realize that actions often speak louder than words.

So we’ve got some BIG news that I think you will be happy to hear.

Due to recent improvements in new hardware and infrastructure, we are pleased to announce we are able to decrease maintenance from 0.0015 to 0.0012 USD per Gh/s per day for purchases starting from September 16th.

This represents an increase in payouts by over 60% at the current Bitcoin price and difficulty.

We look at our customers as our partners and when we are able to increase our efficiency, it’s only fair and responsible to pass those savings on to you.

As always, thank you for being a customer of Genesis Mining and growing with us over the last 2 years. We look forward to many years of service ahead as we all grow together.

Sincerely,

Marco Streng

Looks just more and more like a ponzi to me... How to attract new customers ?? Lower your prices...

Haha you guys crack me up, you whine about wanting GM to lower prices and to do this and to do that and when they do, you then scream Ponzi...haha You guys should write comedy!

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September 17, 2015, 08:39:42 AM
 #3188

I would have liked the "Gift" if:

- 0.0012 USD per Gh/s per day for purchases starting from September 16th

Was

- 0.0012 USD per Gh/s per day for all existing contracts

That would be nice.

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September 17, 2015, 08:59:19 AM
 #3189

I would have liked the "Gift" if:

- 0.0012 USD per Gh/s per day for purchases starting from September 16th

Was

- 0.0012 USD per Gh/s per day for all existing contracts

That would be nice.

´

Yeh, would be nice, I agree but would be very costly to do that.

The type of mining hardware and its power efficiency in each farm and the electricity costs in each farm will no doubt vary so if they have a new farm with much lower costs and better hardware efficiency then they can really only pass those costs along to hashpower that will be mining in that new farm, hence the new lower maintenance fees, and not to all their other farms as they all have their own individual costs.

Anyway am looking forward to seeing what the payouts are gonna be, I know people do reinvest so those that do, the new fee will really help them out as I have worked out that for a GM contract to start paying out negative payouts is around 170 USD with the old fee, but if they add new hashpower at the new rate then this means that Bitcoin has to fall even lower before payouts become negative so anything that can help users from losing their investments because of the price of BTC falling to a certain level is better than not doing anything at all.

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September 17, 2015, 09:56:57 AM
 #3190

BIG News!

Hello miners!

I know that we end every email to you saying how much we appreciate having you as a customer, but we realize that actions often speak louder than words.

So we’ve got some BIG news that I think you will be happy to hear.

Due to recent improvements in new hardware and infrastructure, we are pleased to announce we are able to decrease maintenance from 0.0015 to 0.0012 USD per Gh/s per day for purchases starting from September 16th.

This represents an increase in payouts by over 60% at the current Bitcoin price and difficulty.

We look at our customers as our partners and when we are able to increase our efficiency, it’s only fair and responsible to pass those savings on to you.

As always, thank you for being a customer of Genesis Mining and growing with us over the last 2 years. We look forward to many years of service ahead as we all grow together.

Sincerely,

Marco Streng

Looks just more and more like a ponzi to me... How to attract new customers ?? Lower your prices...

Haha you guys crack me up, you whine about wanting GM to lower prices and to do this and to do that and when they do, you then scream Ponzi...haha You guys should write comedy!

They only lower the price on new contracts! It's a joke. A real gift would be to lower fees in general. To me, this gift looks like these "great discount" ponzi promoters are giving away to attract new customers to feed the ponzi scheme when they really need new money coming in before they collapse.

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September 17, 2015, 10:03:16 AM
 #3191

BIG News!

Hello miners!

I know that we end every email to you saying how much we appreciate having you as a customer, but we realize that actions often speak louder than words.

So we’ve got some BIG news that I think you will be happy to hear.

Due to recent improvements in new hardware and infrastructure, we are pleased to announce we are able to decrease maintenance from 0.0015 to 0.0012 USD per Gh/s per day for purchases starting from September 16th.

This represents an increase in payouts by over 60% at the current Bitcoin price and difficulty.

We look at our customers as our partners and when we are able to increase our efficiency, it’s only fair and responsible to pass those savings on to you.

As always, thank you for being a customer of Genesis Mining and growing with us over the last 2 years. We look forward to many years of service ahead as we all grow together.

Sincerely,

Marco Streng

Looks just more and more like a ponzi to me... How to attract new customers ?? Lower your prices...

Haha you guys crack me up, you whine about wanting GM to lower prices and to do this and to do that and when they do, you then scream Ponzi...haha You guys should write comedy!

They only lower the price on new contracts! It's a joke. A real gift would be to lower fees in general. To me, it looks like these "great discount" ponzi promoters are giving to attract new customers to feed the scheme.

So Hashnest selling S7 hashpower from next month with lower maintenance fees just for people that purchase S7 hashpower is also a ponzi too then? As I can see no difference.
Or are you saying that Hashnest should offer the same maintenance fees for the S7 contracts as the people that have bought S5, S4 and S3 hashpower in the past?

I do look forward to reading your post on the Hashnest thread where you will tell everyone that Hashnest is a ponzi scheme for attracting new customers to feed their scheme by having new miners with lower maintenance fees.

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September 17, 2015, 10:07:43 AM
 #3192


So Hashnest selling S7 hashpower from next month with lower maintenace fees just for people that purchase S7 hashpower is also a ponzi too then? As I can see no difference.
Or are you saying that Hashnest should offer the same maintenance fees for the S7 contracts as the people that have bought S5, S4 and S3 hashpower in the past?


You're right. But Hashnest doesn't say it's "a gift" and all this communication bullshit. Let's be clear and honest then : You pay less because you have an efficient S7 and that's allright. There's part of it in GM announcement but it's not so clear...

And, I'm curious, can you show me which blocks have been mined by GM these days ? Antpool is crystal clear, GM isn't at all.

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September 17, 2015, 10:13:43 AM
 #3193

I would have liked the "Gift" if:

- 0.0012 USD per Gh/s per day for purchases starting from September 16th

Was

- 0.0012 USD per Gh/s per day for all existing contracts

That would be nice.

´

Yeh, would be nice, I agree but would be very costly to do that.

The type of mining hardware and its power efficiency in each farm and the electricity costs in each farm will no doubt vary so if they have a new farm with much lower costs and better hardware efficiency then they can really only pass those costs along to hashpower that will be mining in that new farm, hence the new lower maintenance fees, and not to all their other farms as they all have their own individual costs.


I don't agree with that logic.
Miners can be looked at like manufacturing companies, and investors as just that, investors in a manufacturing company.
To say that new capital provided to the total investment pool should be rewarded differently to earlier capital is absurd: simply because it went on purchasing more efficient machinery than previously?
Imo, all hash power investment should be averaged out and rewarded appropriately. If the operating cost of the company decreases and profitability increases, all investors should benefit similarly. Just like in the Real World.
You behave like a ponzi, you get treated like a ponzi: look at Cloudmining.Website, they pay their new 'investors' multiples of that which they pay their longer term ones and quite rightly people are suspicious of them.

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September 17, 2015, 10:21:19 AM
 #3194


So Hashnest selling S7 hashpower from next month with lower maintenace fees just for people that purchase S7 hashpower is also a ponzi too then? As I can see no difference.
Or are you saying that Hashnest should offer the same maintenance fees for the S7 contracts as the people that have bought S5, S4 and S3 hashpower in the past?


You're right. But Hashnest doesn't say it's "a gift" and all this communication bullshit. Let's be clear and honest then : You pay less because you have an efficient S7 and that's allright. There's part of it in GM announcement but it's not so clear...

And, I'm curious, can you show me which blocks have been mined by GM these days ? Antpool is crystal clear, GM isn't at all.

Antpool is also a very unreliable pool or have you not read all the complaints about it on their forums. Payouts are all over the place there and people think that something is not right about it. Some users want to move their hashpower from it.

Regarding the pool info, GM have already posted here many times about why they do not have that kind of info. They did at one point give out an address for one of the pools they mine at which will be somewhere in the backhistory

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September 17, 2015, 02:10:09 PM
 #3195


So Hashnest selling S7 hashpower from next month with lower maintenace fees just for people that purchase S7 hashpower is also a ponzi too then? As I can see no difference.
Or are you saying that Hashnest should offer the same maintenance fees for the S7 contracts as the people that have bought S5, S4 and S3 hashpower in the past?


You're right. But Hashnest doesn't say it's "a gift" and all this communication bullshit. Let's be clear and honest then : You pay less because you have an efficient S7 and that's allright. There's part of it in GM announcement but it's not so clear...

And, I'm curious, can you show me which blocks have been mined by GM these days ? Antpool is crystal clear, GM isn't at all.

Antpool is also a very unreliable pool or have you not read all the complaints about it on their forums. Payouts are all over the place there and people think that something is not right about it. Some users want to move their hashpower from it.

Regarding the pool info, GM have already posted here many times about why they do not have that kind of info. They did at one point give out an address for one of the pools they mine at which will be somewhere in the backhistory


Okay, your assessment of the AntPool is a little over the top.  It's everyone's prerogative to decide what pool to use but making a broad statement like saying a pool is very unreliable without any supporting facts is simply grandstanding.  I have had 24TH/s pointing at the AntPool since January of this year and I can say there is nothing unreliable about it other than what those who don’t understand pool variance write in forums.

I can say from experience that the AntPool has outperformed every pool I've tested by a wide margin and payouts come in once a day without fail.  Just like GM's payouts, sometimes they are within two hours of the norm and sometimes they are as much as 5 or 6 hours later than normal.  I still have not gotten the GM payout today and it's already 7 hours later than when it came in two days ago which is nothing out of the ordinary.  It's just one of those things that the uninformed like to complain about in the forums.

Even with GM's claims about their multipool advantage (which is why I decided to try a contract), if you back out the daily fees and look at the average raw BTC/TH/day GM falls about 4% lower than the average BTC/TH/day that I've earned over the past 9 months mining with the AntPool.  That's the bottom line with the numbers.

We were all enticed to get ourselves some of the GM Kool-Aid for one reason or another and from what I've experienced, it is a bit bland.  None of us would readily admit that we made a mistake but the money I spent here would have had better results elsewhere.

I proudly mine at the KanoPool, the Best Bitcoin Pool in the World!
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September 17, 2015, 02:47:51 PM
 #3196


So Hashnest selling S7 hashpower from next month with lower maintenace fees just for people that purchase S7 hashpower is also a ponzi too then? As I can see no difference.
Or are you saying that Hashnest should offer the same maintenance fees for the S7 contracts as the people that have bought S5, S4 and S3 hashpower in the past?


You're right. But Hashnest doesn't say it's "a gift" and all this communication bullshit. Let's be clear and honest then : You pay less because you have an efficient S7 and that's allright. There's part of it in GM announcement but it's not so clear...

And, I'm curious, can you show me which blocks have been mined by GM these days ? Antpool is crystal clear, GM isn't at all.

Antpool is also a very unreliable pool or have you not read all the complaints about it on their forums. Payouts are all over the place there and people think that something is not right about it. Some users want to move their hashpower from it.

Regarding the pool info, GM have already posted here many times about why they do not have that kind of info. They did at one point give out an address for one of the pools they mine at which will be somewhere in the backhistory


Okay, your assessment of the AntPool is a little over the top.  It's everyone's prerogative to decide what pool to use but making a broad statement like saying a pool is very unreliable without any supporting facts is simply grandstanding.  I have had 24TH/s pointing at the AntPool since January of this year and I can say there is nothing unreliable about it other than what those who don’t understand pool variance write in forums.

I can say from experience that the AntPool has outperformed every pool I've tested by a wide margin and payouts come in once a day without fail.  Just like GM's payouts, sometimes they are within two hours of the norm and sometimes they are as much as 5 or 6 hours later than normal.  I still have not gotten the GM payout today and it's already 7 hours later than when it came in two days ago which is nothing out of the ordinary.  It's just one of those things that the uninformed like to complain about in the forums.

Even with GM's claims about their multipool advantage (which is why I decided to try a contract), if you back out the daily fees and look at the average raw BTC/TH/day GM falls about 4% lower than the average BTC/TH/day that I've earned over the past 9 months mining with the AntPool.  That's the bottom line with the numbers.

We were all enticed to get ourselves some of the GM Kool-Aid for one reason or another and from what I've experienced, it is a bit bland.  None of us would readily admit that we made a mistake but the money I spent here would have had better results elsewhere.


Perhaps me saying it was unreliable was slightly wrong, I will admit that but overall, if you do go and read on the forums and read users getting frustrated on Hashnet Talk, some users want Hashnest to use another pool as an example as they are not happy with pool luck as they put it and also with my own experiences with it in the last month or so it does seem to have days when you just scratch your head and wonder what is going on.  

After all everyone is allowed to have an opinion right and I respect yours as well.




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September 17, 2015, 02:52:05 PM
 #3197

Have u guys seen this  Roll Eyes


Some weeks back


Right now!

Maybe Project X , not sure but maybe  Smiley

Source Website:  http://www.bitcoinupdate.nl/home/genesis-mining-verlaagd-mining-maintenance-fee-en-hoe-zit-het-met-x11-mining-contracten



Get a HUGE 3% discount with promo code: MOON @ Genesis Mining
https://www.genesis-mining.com
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September 17, 2015, 08:23:35 PM
 #3198

Have u guys seen this  Roll Eyes


Some weeks back


Right now!

Maybe Project X , not sure but maybe  Smiley

Source Website:  http://www.bitcoinupdate.nl/home/genesis-mining-verlaagd-mining-maintenance-fee-en-hoe-zit-het-met-x11-mining-contracten




It will not be Project X, they have only mentioned X11 in the webinars so perhaps this means that X11 is just around the corner now.
Only reason Scrypt is still there is because of some users still probably having Scrypt. Do not forget that in September last year they were selling 1 year, 1.5 Year and 2 year Scrypt contracts so there could be still a few scrypt users using the interface. Thats my guess anyway.


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September 18, 2015, 05:51:24 AM
 #3199

Hey All,

Exciting times ahead.

Be prepared for a major announcement coming up next week!


Marco Streng

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September 18, 2015, 08:07:08 AM
 #3200

Have u guys seen this  Roll Eyes


Some weeks back


Right now!

Maybe Project X , not sure but maybe  Smiley

Source Website:  http://www.bitcoinupdate.nl/home/genesis-mining-verlaagd-mining-maintenance-fee-en-hoe-zit-het-met-x11-mining-contracten




It will not be Project X, they have only mentioned X11 in the webinars so perhaps this means that X11 is just around the corner now.

Yes, X11 mining is in my eyes project X. Really exciting if that will be possible.

Get a HUGE 3% discount with promo code: MOON @ Genesis Mining
https://www.genesis-mining.com
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