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Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
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Vitamin King
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November 12, 2015, 11:06:13 PM |
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Let's face it : GM is shady. Probably not the way PB mining was because I believe they are mining. But I'm almost sure their reserve is fractionnal. If they don't give their customers the informations we ask for (total hash, pools used, blocks mined), it's definitively because they hide something. I can also show you some miners with a webcam. It doesn't prove anything about the total hashing power I have and I'm running.
This is the case for almost every cloud mining player. Hashnest, Bit-X, CloudMining.website, HashFlare, eobot... no one is different. None will give you total hash power sold and their mining address. Some showing mining firm, some showing vouch from miner manufacturer and some showing payment proof. All of them are practicing fractional reserve mining. Let's face it. Unfortunately, the more powerful & influential will try to shut your mouth in various way. By negative trust, deleting post etc. |
Not your Keys = Not your Coin | No Risk = No Gain |
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Roquene
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November 12, 2015, 11:31:47 PM |
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A information. It is quite possible to find out from where come the coins. Who traced the withdrawals gets easily out which pools GM used. The Hotwallet address is publicly known. It is possible to draw conclusions about how much Hashrate actually exists. Whether the hardware is at GM in the data center or is rented, I can not say.
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Wintermute
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November 12, 2015, 11:38:37 PM |
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Let's face it : GM is shady. Probably not the way PB mining was because I believe they are mining. But I'm almost sure their reserve is fractionnal. If they don't give their customers the informations we ask for (total hash, pools used, blocks mined), it's definitively because they hide something. I can also show you some miners with a webcam. It doesn't prove anything about the total hashing power I have and I'm running.
This is the case for almost every cloud mining player. Hashnest, Bit-X, CloudMining.website, HashFlare, eobot... no one is different. None will give you total hash power sold and their mining address. Some showing mining firm, some showing vouch from miner manufacturer and some showing payment proof. All of them are practicing fractional reserve mining. Let's face it. Unfortunately, the more powerful & influential will try to shut your mouth in various way. By negative trust, deleting post etc. Proofing the hashrate and the amount sold is difficult. There might be some fractional reserve mining here and there, however, I do not think that the more trustworthy ones are really doing it. I have not followed all posts here, but GM has at least given me enough proof that they are real, endorsements from mining manufacturers (including spondolies IIRC) and videos (btw the GPU farm video is nice). On the other hand some people in the forum behave like idiots. |
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Wintermute
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November 12, 2015, 11:40:39 PM |
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A information. It is quite possible to find out from where come the coins. Who traced the withdrawals gets easily out which pools GM used. The Hotwallet address is publicly known. It is possible to draw conclusions about how much Hashrate actually exists. Whether the hardware is at GM in the data center or is rented, I can not say.
If it is the only hot wallet. Someone I know is also mining with GM and he gets his payments from a different hot wallet. |
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Wintermute
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November 12, 2015, 11:44:03 PM |
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Let's face it : GM is shady. Probably not the way PB mining was because I believe they are mining. But I'm almost sure their reserve is fractionnal. If they don't give their customers the informations we ask for (total hash, pools used, blocks mined), it's definitively because they hide something. I can also show you some miners with a webcam. It doesn't prove anything about the total hashing power I have and I'm running.
This is the case for almost every cloud mining player. Hashnest, Bit-X, CloudMining.website, HashFlare, eobot... no one is different. None will give you total hash power sold and their mining address. Some showing mining firm, some showing vouch from miner manufacturer and some showing payment proof. All of them are practicing fractional reserve mining. Let's face it. Unfortunately, the more powerful & influential will try to shut your mouth in various way. By negative trust, deleting post etc. Proofing the hashrate and the amount sold is difficult. There might be some fractional reserve mining here and there, however, I do not think that the more trustworthy ones are really doing it. I have not followed all posts here, but GM has at least given me enough proof that they are real, endorsements from mining manufacturers (including spondolies IIRC) and videos (btw the GPU farm video is nice). On the other hand some people in the forum behave like idiots. It seems Bitmain is cheating a bit, as well. On the other hand, which company is not? |
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Zeta0S
Legendary
 Offline
Activity: 1890
Merit: 1031
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November 13, 2015, 12:45:08 AM |
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GM is the real deal. Used there service from day 2, no complains.
The X11 is great! love it!
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POM
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November 13, 2015, 05:37:31 AM |
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Invested in some X11 today as i missed out on the first release. Hoping for some better results than their SHA hashes..they stopped paying those out 2 months ago..lol
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IanFoxley
Legendary
Offline
Activity: 910
Merit: 1000
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November 13, 2015, 05:42:47 AM |
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Invested in some X11 today as i missed out on the first release. Hoping for some better results than their SHA hashes..they stopped paying those out 2 months ago..lol
Not completely though, was just the older contracts which unfortunately died just a week or two just before BTC price went up. Those on 0.0015 USD or 0.0012 USD maintenance fee contracts are fine. |
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IanFoxley
Legendary
Offline
Activity: 910
Merit: 1000
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November 13, 2015, 05:48:48 AM
Last edit: November 13, 2015, 06:14:07 AM by IanFoxley |
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I did read that the first few batches of the S7s were not performing too well, then again I think alot of first batches of miners can be like that from reading up in the past. Some users reported issues with the heatsinks coming away from the chips as well....I suppose over time these things will be fixed but if you get one of the first batches and you do not realise at the time of purchasing, then that could be a problem in the future as who knows how long these miners will last. KNC titans were a problem too if i recall.. |
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Wintermute
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November 13, 2015, 05:18:14 PM |
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 I have tracked the payouts of my X11 contracts so far. X11 payout = payout in BTC (auto) times the Bitstamp rate at the end of the date. ROI Ferix / Graviton = these is the amount I would have paid for each contract per day, so as long as I am above these lines I will make a profit. Right now: +16.8% for Ferix
+29.1% for Graviton! |
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Deadstock
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November 13, 2015, 05:49:35 PM |
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Couldn't ROI on scrypt..nor SHA256. i'm skeptical about these x11 as well but to everyone that invested, i wish you the best!
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notaek
Legendary
Offline
Activity: 1268
Merit: 1009
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November 13, 2015, 09:54:32 PM |
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Awesome timelapse video! By the way, may I know the name of the GPUs shown in the video (you can PM me if it's confidential) because I want to buy 2 of them for self-mining  Anyways I think x11 mining is becoming more stable than one-year SHA-256 mining  |
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Icon
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November 14, 2015, 07:50:29 AM |
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Tell me something, how is it we can auto exchange btc to ppc (peercoin) only on x11? Why cant we do it on sha256 too? Also might as well add all the alt coins you offer on x11 to sha256 contracts.
Thanks
Icon
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Genesis-Mining (OP)
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November 14, 2015, 12:53:41 PM |
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Awesome timelapse video! By the way, may I know the name of the GPUs shown in the video (you can PM me if it's confidential) because I want to buy 2 of them for self-mining Anyways I think x11 mining is becoming more stable than one-year SHA-256 mining Hello notaek, Sure, the cards for the build out you see on the video are AMD Radeon R9 270x vapor. Hope this helps! Happy mining! Your Genesis Mining Team |
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Genesis-Mining (OP)
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November 14, 2015, 01:14:02 PM |
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Tell me something, how is it we can auto exchange btc to ppc (peercoin) only on x11? Why cant we do it on sha256 too? Also might as well add all the alt coins you offer on x11 to sha256 contracts.
Thanks
Icon
Hello Icon, We are constantly adding more coins and will also add more coins to the sha mining allocation page. The reason why Peercoin is not on on Auto for sha, but on x11, is because it has direct sha POW components, but is not mineable directly with x11. Hope this helps! Your Genesis Mining Team |
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HerkulesBee
Member
Offline
Activity: 84
Merit: 10
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November 14, 2015, 10:22:56 PM |
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Hello Genesis Mining Team! What is the best discount that I can get for 5000$? What is the promo code with the biggest discount? I know that there are multiple promo codes circulating through the net. I would like to invest more  |
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elrippo
Legendary
Offline
Activity: 1008
Merit: 1001
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November 15, 2015, 11:39:43 AM |
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For Advertisement. PM me to discuss.
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notaek
Legendary
Offline
Activity: 1268
Merit: 1009
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November 15, 2015, 06:01:00 PM |
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Can you please elaborate the fact with reference to the context given in this thread? genesis-mining.com 1+2+7 => 3/7 = Probably legit.
I think you should look upon these points in order to attain full legitimacy! It's true that you dint provide a public mining address, nor gave you clients access to the user selective pool. Apart from x11 mining, I would like to know the ASIC vendor you're keeping in touch in order to mine SHA-256 coins? Also you must launch a policy where your clients can terminate a contract anytime, based on their own interests. Hashnest is probably doing that. These are the points you need to rectify so that your clients don't frown upon you later! |
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IanFoxley
Legendary
Offline
Activity: 910
Merit: 1000
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November 15, 2015, 06:47:46 PM
Last edit: November 15, 2015, 07:34:44 PM by IanFoxley |
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No body reached ROI with anything they offer. How could you love it ?
Actually I made ROI with them, the 10GH/s contract I purchased in September last year and featured in my videos made ROI in May 2015. So if anyone else purchased SHA 256 at the same time last year then they would have done also. Infact those who purchased larger amounts would have paid less per GH/s than I would have done so could have made ROI even before May. Of course if they purchased more contracts later on, in October, November or December then of course things get more of a problem. So it was possible to get ROI and my contract was proof of that. Of course you will not believe me but that really is up to you. |
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