IanFoxley
Legendary
Offline
Activity: 910
Merit: 1000
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October 08, 2015, 07:13:35 AM |
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100 MH/s cost $1805 Dashcoin with 100 MH/s = $12.62 daily = $378,6 monthly ROI = 4,8 Month With 500 MH/s a ROI of 4,1 possible Of course at current price and without difficulty change. could be faster or way longer. but i think a acceptable profit is possible in lifetime of the contract. if you are able to watch the X11 coins and switch mined coin @ GM accordingly would love to test it. somebody lend me 10 BTC? No need, i purchased 300 MH/s so I am the guinea pig here. As payouts with BTC (AUTO) are around 0.0003 BTC per MH/s I was expecting around 0.09 BTC a day. Although we shall see ..haha.. I was just going to leave it on BTC (AUTO) cos if Dash and Startcoin go up in value against BTC then surely my BTC payouts would increase as well as BTC (AUTO) is based on X11 coins being traded and paid out to BTC...I guess if you mine Dash and then hang onto it and then sell when price is high and buy back when price is low you could do ok..But I am terrible at that
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Genesis-Mining (OP)
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October 08, 2015, 10:25:56 AM |
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Hi Genesis Mining community!
We have updated the X11 Mining allocation page to include some more choices like we have on our SHA 256 mining allocation page.
X11 miners can allocate hashpower to
Dash Startcoin BTC(AUTO)
We have added the following:
Litecoin (AUTO) Doge (AUTO) BTCD (AUTO)
Do not forget (AUTO) means Autotrade and this means mining profitable X11 coins and then returns are traded to the (AUTO) coin you have allocated hashpower to and paid out in that coin.
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clgrissom3
Legendary
Offline
Activity: 1722
Merit: 1032
Carl, aka Sonny :)
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October 08, 2015, 02:05:23 PM |
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Up to 10/7/2015...another bit of a bump in payout.
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Icon
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October 08, 2015, 07:28:55 PM |
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What happen if contact 1 year x11 expire?
i will get back my btc or no?
NO, you get EVERYONE's BTC back .....
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Soylent_Green
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October 08, 2015, 09:49:26 PM |
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Still no payout. Too bad...
And no gesture of goodwill for the oldest customers. Not sure you will still go a long way GM. Customers who don't ROI won't reinvest.
You've signed a contract with a predetermined fee. It is not the fault of GM when the Bitcoin price too low, or the Difficulty is too high and the contract is no longer profitable. Even the new contracts with lower fees are a losing proposition. But I speculate on rising prices. Of course, this can also totally go wrong and my money is gone. The risk is always there. Seemingly still think people that here would be a magic money printing machine. But it's a high-risk investment. In a still experimental cryptographic currency. And if GM would everyone pay compensation, the company would be bankrupt within days. Why should they give away money? They are also a profit-oriented company.
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BitcoinNewsMagazine
Legendary
Offline
Activity: 1806
Merit: 1164
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October 08, 2015, 10:13:01 PM |
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Still no payout. Too bad...
And no gesture of goodwill for the oldest customers. Not sure you will still go a long way GM. Customers who don't ROI won't reinvest.
You've signed a contract with a predetermined fee. It is not the fault of GM when the Bitcoin price too low, or the Difficulty is too high and the contract is no longer profitable. Even the new contracts with lower fees are a losing proposition. But I speculate on rising prices. Of course, this can also totally go wrong and my money is gone. The risk is always there. Seemingly still think people that here would be a magic money printing machine. But it's a high-risk investment. In a still experimental cryptographic currency. And if GM would everyone pay compensation, the company would be bankrupt within days. Why should they give away money? They are also a profit-oriented company. Right. And all current GM contracts will be underwater when block halving occurs next summer and fees > revenue at current bitcoin price range. Buying any bitcoin mining contract at GM right now is high risk. You are placing a bet that bitcoin price will double by next summer. The trouble with that type of bet is GM is the house and the house always wins. You need to look for hosted bitcoin mining with daily fees that are half of what GM charges if you want to give yourself any type of edge.
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Wintermute
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October 08, 2015, 11:02:10 PM |
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Still no payout. Too bad...
And no gesture of goodwill for the oldest customers. Not sure you will still go a long way GM. Customers who don't ROI won't reinvest.
You've signed a contract with a predetermined fee. It is not the fault of GM when the Bitcoin price too low, or the Difficulty is too high and the contract is no longer profitable. Even the new contracts with lower fees are a losing proposition. But I speculate on rising prices. Of course, this can also totally go wrong and my money is gone. The risk is always there. Seemingly still think people that here would be a magic money printing machine. But it's a high-risk investment. In a still experimental cryptographic currency. And if GM would everyone pay compensation, the company would be bankrupt within days. Why should they give away money? They are also a profit-oriented company. You got it right Soylent Green! Everyone is responsible for his own investment. People should stop whining and blaming someone else. If you do not understand the risks, you should not invest. I am doing lots of investments and some work out and some do not - that is how it is. GM is doing exactly what they promised according to the contract. And I came to the same conclusion: their X11 contracts look like a good investment opportunity!
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creuz
Member
Offline
Activity: 119
Merit: 10
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October 09, 2015, 05:23:14 AM |
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Right. And all current GM contracts will be underwater when block halving occurs next summer and fees > revenue at current bitcoin price range. Buying any bitcoin mining contract at GM right now is high risk. You are placing a bet that bitcoin price will double by next summer. The trouble with that type of bet is GM is the house and the house always wins. You need to look for hosted bitcoin mining with daily fees that are half of what GM charges if you want to give yourself any type of edge.
Don't need to "invest" in cloudmining if Bitcoin price double, you just have to buy Bitcoins now and you will have twice the value next summer. Cloudmining is a monkey business, the winners are GM and its HUGE%DISCOUNT dealers.
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winguard
Member
Offline
Activity: 112
Merit: 10
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October 09, 2015, 05:25:05 PM |
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are payouts delayed? my last one was Oct. 7
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clgrissom3
Legendary
Offline
Activity: 1722
Merit: 1032
Carl, aka Sonny :)
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October 09, 2015, 08:19:58 PM |
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Up to 10/8/2015...a bit of a bump in BTC but not payout.
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Genesis-Mining (OP)
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October 09, 2015, 08:33:52 PM |
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Hi Everyone.
Just wanted to remind everyone that payouts can be anytime each day between Midnight and 23:59 UTC time. So on one day you might get a payout in the morning, another day in the evening and then in the morning again. It will vary every day.
We have had a lot of support tickets this evening with people asking about their payouts.
You can find out the time in UTC by typing "time in utc" in Google.
Currently as I type this it is just 8:32 PM UTC.
Genesis Mining
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Bravo_Zulu
Newbie
Offline
Activity: 6
Merit: 0
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October 10, 2015, 11:15:07 AM |
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This is what i don't understand. how can btc price go up but not the pay out?
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Wintermute
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October 10, 2015, 11:58:52 AM |
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Up to 10/8/2015...a bit of a bump in BTC but not payout. This is what i don't understand. how can btc price go up but not the pay out? I think the price lacks one day; so the pricing on the previous day is relevant because they will probably do the BTC/USD conversion during that day. It could also be because the price is changing during the day, or pool luck could also play a role.
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clgrissom3
Legendary
Offline
Activity: 1722
Merit: 1032
Carl, aka Sonny :)
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October 10, 2015, 07:00:30 PM |
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Up to 10/9/2015...funny how that bump in BTC didn't translate to a bump in payout this time around. Maybe it's two days behind! Realistically, unless we can see pool or mining statistics, we'll never really know what the relationships are.
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elrippo
Legendary
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Activity: 1008
Merit: 1001
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October 11, 2015, 09:13:20 AM |
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For Advertisement. PM me to discuss.
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biggbox
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October 11, 2015, 02:24:54 PM |
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GM's payout seems to be falling. I guess it is more worth while to buy your own miners.
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1Cr9iLWm2dSGH8259VQd2wDzpkR63jGVjW
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Wintermute
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October 11, 2015, 10:37:46 PM |
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GM's payout seems to be falling. I guess it is more worth while to buy your own miners.
Wrong conclusion. With rising difficulty payouts for home miners are dropping, as well. Mining at home only makes sense if (i) you have free (or very cheap electricity) available and (ii) if you do not take into account the time you spend for setting up and maintaining the machine.
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clgrissom3
Legendary
Offline
Activity: 1722
Merit: 1032
Carl, aka Sonny :)
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October 12, 2015, 02:01:08 AM |
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Up to 10/10/2015
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IanFoxley
Legendary
Offline
Activity: 910
Merit: 1000
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October 12, 2015, 08:59:12 AM |
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GM's payout seems to be falling. I guess it is more worth while to buy your own miners.
Wrong conclusion. With rising difficulty payouts for home miners are dropping, as well. Mining at home only makes sense if (i) you have free (or very cheap electricity) available and (ii) if you do not take into account the time you spend for setting up and maintaining the machine. Plus, you might need an electrician to come in and make your home safe and make improvements to your electricity supply if you have lots of miners and also you need to work out cooling as well. If miners get too hot then they dont peform at the best speeds so to cool them down means you would have to underclock them and that means they mine slower. If you think that a Bitcoin miner is just a box you sit in the corner like an Xbox etc and just turn it on and it hums a little bit, then you have no idea of what it really is like. When your wife or a girlfriend or perhaps your Mum or even yourself, has a vacuum cleaner on.....it turns off after a few minutes but a Bitcoin miner is like having a vacuum cleaner or a very loud hairdryer on ...all day long 24 hours a day and 7 days a week and it never goes away ...unless you turn it off or throw it out of the window hahaa.....That is just one miner, now imagine a few.
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clgrissom3
Legendary
Offline
Activity: 1722
Merit: 1032
Carl, aka Sonny :)
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October 13, 2015, 02:05:11 AM |
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Up to 10/11/2015...boring! We will need to see BTC at $300 before this thing will show any real improvement.
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