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

[speedt_ouch]

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.

[IanFoxley]

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.

[Glucose]

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.

[IanFoxley]

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.

[Glucose]

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.

[tmfp]

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.

[IanFoxley]

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

[clgrissom3]

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.

[IanFoxley]

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.

[Zeta0S]

Have u guys seen this  


Some weeks back


Right now!

Maybe Project X , not sure but maybe  

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

[IanFoxley]

Have u guys seen this  


Some weeks back


Right now!

Maybe Project X , not sure but maybe  

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.

[Genesis-Mining]

Hey All,

Exciting times ahead.

Be prepared for a major announcement coming up next week!


Marco Streng

[Zeta0S]

Have u guys seen this  


Some weeks back


Right now!

Maybe Project X , not sure but maybe  

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.

[galdur]

So, is this thing giving up the ghost or what? Payout now under 100 satoshi per gh/s. Terrible, just terrible. Can´t wait for the usual apologists.

[julian071]

There's definitely something wrong, my payments went from 0.02something to 0.015 yesterday and 0.012 today. I have logged a call.

[Icon]

Yep says on site 610 gh/s should be getting ~ $1.22 per day. a got a massive .25 cents.. epic fail genesis



Icon

[lama-hunter]

There's definitely something wrong, my payments went from 0.02something to 0.015 yesterday and 0.012 today. I have logged a call.

Okay Guys i have the same Problem as u aswell. I heard about lowering the Fees per gh/s from CryptoMiningblog.

Also my Payouts are horrible at the Moment, but this is because of the cheap BTC Price at the Moment.
I would like to have a better overview over the Mining and the finded Blocks that my Hashrates are trying to solve.

That would be great to get more transparance at genesis Mining from= how much u earned, and how much u pay for electricity

regards
lama-hunter

[IanFoxley]

There's definitely something wrong, my payments went from 0.02something to 0.015 yesterday and 0.012 today. I have logged a call.

Okay Guys i have the same Problem as u aswell. I heard about lowering the Fees per gh/s from CryptoMiningblog.

That is only for new contracts purchased since September 16th 2015. Any contracts before have not had any maintenance fee changes.

[Genesis-Mining]

So, is this thing giving up the ghost or what? Payout now under 100 satoshi per gh/s. Terrible, just terrible. Can´t wait for the usual apologists.

Galdur, I have sent you a PM.

Then we can look into your account for you.

Average payout yesterday for most contracts was around 186 satoshis per GH/s. This is based on payouts with maintenance fees of 0.0015 USD per GH/s

Those with maintenance fees of 0.0012 USD per GH/s had an average of around 316 satoshi per GH/s.

Regards

Genesis Mining.

[Genesis-Mining]

Yep says on site 610 gh/s should be getting ~ $1.22 per day. a got a massive .25 cents.. epic fail genesis
Icon

Hi Icon.

Which site are you referring to, do you have a link. PM me please.

Genesis Mining