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

[bittamak]

My payouts dropping consistently for the last 5 days..!!!

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[Glucose]

My payouts dropping consistently for the last 5 days..!!!

If you had an "old" contract (0.002 fee / ghs) he is worthless now. Your profit is 0 with the fee GM is taking and the actual BTC price / difficulty.

If you have a "new" contract (0.0015 or 0.0012) you still have a payout but you have to hope BTC price will rise & difficulty won't rise too much..

Maybe you have both of it, so you still get paid a little something..

@Genesis Mining
what do you think about getting your early customers from their 0,002$/GH/D fee contract to the new 0,0012$/GH/D fee contracts. In my opinion this would be advisable, feasible and fair towards your early adopters (besides that, good marketing).

Let us know your thoughts.

Kind regards,
elrippo

I agree.

Perhaps asking for 0.0012 is too much. But I think they could do a gest of goodwill. We "old" customers were the first to trust them, to give them capital, etc..

[Runlevel]

I believe that the statement of GM is okay. The payout of old contracts are lower than the new because the difficult to mine of btc is higher than as before and cost more fees. I have buy for few days 100 GH/s more hash power by GM and i earn today my biggest payout and i also buy GH/s on an other Cloud Mining Company.There is the same problem with the fees - since a few days ago the daily payout is low.

Runlevel

[speedt_ouch]

Today's payment was better then yesterdays, but still less than half I was getting a month ago.
Lets see how it goes...

[elrippo]

My payouts dropping consistently for the last 5 days..!!!

If you had an "old" contract (0.002 fee / ghs) he is worthless now. Your profit is 0 with the fee GM is taking and the actual BTC price / difficulty.

If you have a "new" contract (0.0015 or 0.0012) you still have a payout but you have to hope BTC price will rise & difficulty won't rise too much..

Maybe you have both of it, so you still get paid a little something..

@Genesis Mining
what do you think about getting your early customers from their 0,002$/GH/D fee contract to the new 0,0012$/GH/D fee contracts. In my opinion this would be advisable, feasible and fair towards your early adopters (besides that, good marketing).

Let us know your thoughts.

Kind regards,
elrippo

I agree.

Perhaps asking for 0.0012 is too much. But I think they could do a gest of goodwill. We "old" customers were the first to trust them, to give them capital, etc..

Yeah i would agree with 0,0012 fees, because we -the early adopters, as you mentioned- layed the ground for others. Now miners are getting more efficient like the SP50 so i think it would be feasible to swap the the early accounts with 0,002 or 0,0019 fees to the new ones.
This would be a strategic master piece from Genesis-mining and get some new customers with this publicity.
Let´s wait what Genesis Mining considers towards the swap 

[alienesb]

My payouts dropping consistently for the last 5 days..!!!

If you had an "old" contract (0.002 fee / ghs) he is worthless now. Your profit is 0 with the fee GM is taking and the actual BTC price / difficulty.

If you have a "new" contract (0.0015 or 0.0012) you still have a payout but you have to hope BTC price will rise & difficulty won't rise too much..

Maybe you have both of it, so you still get paid a little something..

@Genesis Mining
what do you think about getting your early customers from their 0,002$/GH/D fee contract to the new 0,0012$/GH/D fee contracts. In my opinion this would be advisable, feasible and fair towards your early adopters (besides that, good marketing).

Let us know your thoughts.

Kind regards,
elrippo

I agree.

Perhaps asking for 0.0012 is too much. But I think they could do a gest of goodwill. We "old" customers were the first to trust them, to give them capital, etc..

Yeah i would agree with 0,0012 fees, because we -the early adopters, as you mentioned- layed the ground for others. Now miners are getting more efficient like the SP50 so i think it would be feasible to swap the the early accounts with 0,002 or 0,0019 fees to the new ones.
This would be a strategic master piece from Genesis-mining and get some new customers with this publicity.
Let´s wait what Genesis Mining considers towards the swap 

Judging from the past Scrpyt bait and switch don't hold your breath.

[julian071]

I would not hold my breath either, but what you are saying about how they handled Scrypt becoming worthless is just wrong. They were under no obligation whatsoever to compensate users, but still they did. It wasn't much but still.

The bitching and moaning that followed that nice gesture will surely make them think twice about doing somehting like that again.

[alienesb]

I would not hold my breath either, but what you are saying about how they handled Scrypt becoming worthless is just wrong. They were under no obligation whatsoever to compensate users, but still they did. It wasn't much but still.

The bitching and moaning that followed that nice gesture will surely make them think twice about doing somehting like that again.

Yeah but their crappy payouts and dodging questions will make people think twice about giving them free loans in the future too.

[galdur]

I would not hold my breath either, but what you are saying about how they handled Scrypt becoming worthless is just wrong. They were under no obligation whatsoever to compensate users, but still they did. It wasn't much but still.

The bitching and moaning that followed that nice gesture will surely make them think twice about doing somehting like that again.

Yeah but their crappy payouts and dodging questions will make people think twice about giving them free loans in the future too.

Yes, and they better factor in 50%-100% diff increase per year. If Bitcoin rises to 300 and holds it that increase may very well be more, if it stays weak and declines the diff. may decrease but the payout will still be shitty. And then one day it´ll be zero. It´s a lose-lose situation. So, if you believe that Bitcoin will rise just buy and hold it. If you believe that it´ll be decline from here do nothing, wait for a buying opportunity.

[clgrissom3]

A slight improvement for yesterdays operation.  Difficulty is the same, BTC is $2 lower yet there is an improvement in payout.  This is the kind of thing that makes you want to just scratch your head.

[Zeta0S]

I believe in this and that...

Well, personally I think verification is way more important here than belief. Once they verify that they´re the world´s largest cloud mining operation I´ll start believing. Shouldn´t be much of a problem, transparency is after all their middle name, according to themselves.

What is it you would like to see?  I can ask for a photo for there farm if you like.

I would like to see which freakin blocks they find what do you think. The amount of hash power. I want them to verify that they´re the world´s largest cloud miner.

I dot know if they are the largest.  Can be marketing talk, thats always exaggerated.
If i was GM, i would also say i am the largest, no harm there.

About the blocks, i can remember there is a security issue whit that.

[BitcoinNewsMagazine]

Something to consider is the bitcoin block reward halving is coming up ~ July 2016. If bitcoin price stays at current level, difficulty continues to increase, when reward is cut in half all current Genesis Mining contracts will be underwater (payout will not cover maintenance fee) and will be cancelled. Before that time if GM actually plans to continue selling hashing they will have to upgrade their miners to remain competitive. They may throw current contract owners some sort of bone to upgrade to new more expensive contracts.

[alienesb]

A slight improvement for yesterdays operation.  Difficulty is the same, BTC is $2 lower yet there is an improvement in payout.  This is the kind of thing that makes you want to just scratch your head.

Thank Glob your S7s will be up and running soon 

[clgrissom3]

I know, I can't wait! 

[galdur]

A slight improvement for yesterdays operation.  Difficulty is the same, BTC is $2 lower yet there is an improvement in payout.  This is the kind of thing that makes you want to just scratch your head.

Thank Glob your S7s will be up and running soon 

S7 hash is coming to the market? I thought that was months away. That´s going to be very interesting. Not in hashnest at the moment, cashed out after that latest BTC plunge. It´s a good service. Transparent as in the real thing, not the hot air variety.

[yazx]

I waited more than 10 days, why not to take any action in my ticket and no reply
My concern in this matter I give my friend a Ticket using a different email. But you reply to him in quick time, but for my Ticket still no response.

[galdur]

Hmm. Seems like a ponzi. We shall see. lol. 

Well, there seems to be about 100% correlation between refusing to verify hashrate, blocks found etc., and ceasing operations without warning, leaving customers in the lurch. So far it has been only a question of time. Maybe Genesis is the exception only time will tell.

[elrippo]

After 5 days without a payment on my "old" 0,0019$ fee contract i recieved a payout pretty near half of the last one i got 

[galdur]

After 5 days without a payment on my "old" 0,0019$ fee contract i recieved a payout pretty near half of the last one i got 

Nothing here. Last payout was mining day 17.9. But it´s just dust anyway so no big deal.

[elrippo]

After 5 days without a payment on my "old" 0,0019$ fee contract i recieved a payout pretty near half of the last one i got 

Nothing here. Last payout was mining day 17.9. But it´s just dust anyway so no big deal.

Maybe, but i got a payout