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

[cyberpitstop]

I added more hash power, as payment from Genesis have been better then I expected. I don't have to worry about  rejects, pool fees and latency issues and DOWN TIME! This has in turn made GM much more profitable then I expected. Many of my friends and family have started over the last few weeks and are VERY happy too. I would like to see the profitability of the Auto BTC feature like multipools show. That way we would have an idea of what kind of return to expect on the auto BTC feature. Other then that I just really love the EASE and simplicity of Genesis-Mining. Also if you are unsure you can start with a very small amount 1 mh/s account. Use promo code  CYBER_11   to save even more!!!

[1713960082]

1713960082

[1713960082]

1713960082

[1713960082]

1713960082

[Mike18feb]

...
I really don't understand how anyone can look at that guy's alleged photo and say "yep, that's legit".
...

Heh, I really don't understand why anyone would even look at testimonials. I've never seen any that looked legit, so why care about a silly pic

[DoubleU]

What is the average payout for Auto BTC at 4.75 MHs? On the second day I got 0.011 BTC.
Then it has been around 0.006 BTC since. Profitability seems to diminish drastically! 
That would mean around 300 days until break-even (with no less ROI per day)!! 
Actually same thing happens with other coins also. Must keep observing before bumping in more hash power.
Which was something I was considering until profitability dropped. I never allocated Auto BTC less than 90%.

https://www.evernote.com/shard/s283/sh/b5243383-ea7c-49aa-b313-0ce3dc56b62b/a75291e51b13fb95e5fb0bcde93c1368/deep/0/https---www.genesis-mining.com-transactions.png

-W

[Mike18feb]

What I see is that there was a nice increase in income on June 21 to 23 Jun. Before and after those days income was around the same. Just a nice bump which didn't last very long unfortunately. Probably some coin that did very well those days, and that's one of the benefits of mining the most profitable coins. Downside is, hmm, coins are volatile. Nothing new there

So, there's nothing odd about the numbers you see, DoubleU. You entered on the top of a hill

If you invest in more, pick one the nice discount codes available in this thread (and my signature)

[xiaogr]

What is the average payout for Auto BTC at 4.75 MHs? On the second day I got 0.011 BTC.
Then it has been around 0.006 BTC since. Profitability seems to diminish drastically! 
That would mean around 300 days until break-even (with no less ROI per day)!! 
Actually same thing happens with other coins also. Must keep observing before bumping in more hash power.
Which was something I was considering until profitability dropped. I never allocated Auto BTC less than 90%.



-W

The same behavior to me....I think has to do with the coin profitability/difficulty

[xiaogr]

What is the average payout for Auto BTC at 4.75 MHs? On the second day I got 0.011 BTC.
Then it has been around 0.006 BTC since. Profitability seems to diminish drastically! 
That would mean around 300 days until break-even (with no less ROI per day)!! 
Actually same thing happens with other coins also. Must keep observing before bumping in more hash power.
Which was something I was considering until profitability dropped. I never allocated Auto BTC less than 90%.



-W

The same behavior to me....I think has to do with the coin profitability/difficulty

For 28 MH/s

[kyma]

Im reading this is more profitable than PB for example.. but I think I need someone to explain to me how script mining or genesis differs.

Here are the current price quotes:

PB Mining:
0.0036 BTC / GHs

Genesis Mining:
0.3 BTC / MHs

if 1000MHs is 1GHs, isn't that the same as...

PB Mining:
0.0000036 BTC / MHs

Genesis Mining:
0.3 BTC / MHs

not to mention 5yr vs 1yr contracts respectively


There must be something special I'm missing regarding script vs ASIC mining right?


EDIT: if anyone knows of any informational material regarding the respective hashrate terminology for various mining algorithms I would be vvery appreciative. Thanks. Looking into Genesis :-p

[IanFoxley]

Im reading this is more profitable than PB for example.. but I think I need someone to explain to me how script mining or genesis differs.

Here are the current price quotes:

PB Mining:
0.0036 BTC / GHs

Genesis Mining:
0.3 BTC / MHs

if 1000MHs is 1GHs, isn't that the same as...

PB Mining:
0.0000036 BTC / MHs

Genesis Mining:
0.3 BTC / MHs

not to mention 5yr vs 1yr contracts respectively


There must be something special I'm missing regarding script vs ASIC mining right?


EDIT: if anyone knows of any informational material regarding the respective hashrate terminology for various mining algorithms I would be vvery appreciative. Thanks. Looking into Genesis :-p

Well for a start Bitcoin uses SHA-256 algorithm.

If you look at most Bitcoin GPU hardware comparisons, all GPUs would mine Bitcoin  at a faster hashrate than Scrypt.
For example an ATI 7970 would have mined Bitcoin at around 700 Mh/s and scrypt around 700khs so if you see for example an ASIC that mines BTC at 100Ghs, then that would be eqv to a scrypt ASIC mining at 100 Mh/s. The difficulty for BTC is so high now that you can get more Bitcoin a day by mining scrypt or X11 or X13 etc coins each day than if you mined BTC directly, so that is one reason why mining other types of crypto currency is more profitable.

Also the problem with Bitcoin asics is that they can only mine BTC or other coins that use SHA-256. Same generally with Scrypt Asics, although there have been posters here saying that you can also mine other algorithms with these ASICs, but not completely sure or just rumours.

Hope that helps a little bit.
If you do want to purchase some power from Genesis Mining, please feel free to use my promo code CK_DISCOUNT

[bobmarley650]

i think
you need to accept bitcoin
and the contract system is not wellcome for me;;;;
try something like cex.io


sorry for my lang 

[IanFoxley]

i think
you need to accept bitcoin

What do you mean Bob, to pay out BTC, to mine BTC or to Pay in with BTC?

[xiaogr]

i think
you need to accept bitcoin
and the contract system is not wellcome for me;;;;
try something like cex.io


sorry for my lang 

Hi,

If i calculate correct you need around 1.2TH in cex in order to have around 0,35 btc per 24h
1.2 TH right now costs 8.9 btc

With that money you can have ~32 Mh in GM and not fees and not the difficulty increase of btc (which was the reason to left from cex) and an average of ~0,45btc

Maybe i am calculating something wrong...

[Genesis-Mining]

i think
you need to accept bitcoin
and the contract system is not wellcome for me;;;;
try something like cex.io


sorry for my lang 

Well we do accept BTC as payments and we offer payouts in BTC.

The daily payout per Mh/s varying, yes, and there is nothing we can do about it. The market is moving, the prices of the coins change, the difficulties change, and the combination of all that determines the payout at the end of the day.

[Illutian]

...
I really don't understand how anyone can look at that guy's alleged photo and say "yep, that's legit".
...

Heh, I really don't understand why anyone would even look at testimonials. I've never seen any that looked legit, so why care about a silly pic

...a fake(ed) photo on a site that takes your money. And pseudo-promises to return a profit to you.


Ya, I don't know why anyone would be concerned.  

[Genesis-Mining]

Illutian, you are welcome to meet members of our team in Munich, Germany or any Bitcoin conference around the globe that we attend. Just let us know which you prefer and we'll arrange a meeting.

[Mike18feb]

Well, thanks for your insights then, Illutian. Cool that you spotted the pic, but really, I still think you're making more out of this silly pic then it's worth.

Illutian, you are welcome to meet members of our team in Munich, Germany or any Bitcoin conference around the globe that we attend. Just let us know which you prefer and we'll arrange a meeting.

Next time I'm in Munich I'll let you guys know , or is the invitation only for those with healthy criticism?

Hi,

If i calculate correct you need around 1.2TH in cex in order to have around 0,35 btc per 24h
1.2 TH right now costs 8.9 btc

With that money you can have ~32 Mh in GM and not fees and not the difficulty increase of btc (which was the reason to left from cex) and an average of ~0,45btc

Maybe i am calculating something wrong...

Okay, to make 1 BTC per month at this point in time you would need like 14Mhs versus 1.3Ths

14Mhs at Genesis-Mining = $2520 / 4.2BTC (but you can still get a 3% discount on this  )
1.4Ths at PBMining (talking about food for pseudo-promises...) = $3000 / 5BTC

[rikkejohn]

So you mine whatever is easy and profitable, and it is converted to BTC if you want?

The site is not 100% clear, but are you limited to the handful of coins mentioned?

Why don't you offer a 3 month contract?

[Illutian]

Illutian, you are welcome to meet members of our team in Munich, Germany or any Bitcoin conference around the globe that we attend. Just let us know which you prefer and we'll arrange a meeting.

Honestly, you guys could just do a Live TwitchTV stream of the event; as in CEO is sitting there. With a live feed from the mining facility, with an employee holding up a GPS (coordinate-only would do nicely), running at the booth/panel or whatever is the standard setup for a Bitcoin Conference.

...fact this should probably become the de facto standard for all Bitcoin Investment Firms, which include those who derive their payouts from mining, as well as those who use straight up investment methods (ie "playing the stock market"; in this case Bitcoin market).
*NOTE: Obviously the GPS part would be altered to fit each Firm. Mining firms; mining location. Investment firms; main HQ location. But in both cases the GPS should be clearly readable.

There's been way too many scams that have muddied the waters for Bitcoin investment. 



---
//Side note:

And just to nip it. No this isn't a cop-out. I've passed up many vacations, in favour of staying home, because I hate travelling. And I dislike group scenes.

Well, thanks for your insights then, Illutian. Cool that you spotted the pic, but really, I still think you're making more out of this silly pic then it's worth.

Illutian, you are welcome to meet members of our team in Munich, Germany or any Bitcoin conference around the globe that we attend. Just let us know which you prefer and we'll arrange a meeting.

Next time I'm in Munich I'll let you guys know , or is the invitation only for those with healthy criticism?

I always assume everyone is out to screw me over. I don't even trust my family; none of them have given me cause to mistrust them.

#CynicalAmerican

 

[Mike18feb]

I assume every crypto company is out to screw me and I assume a payment is lost as soon as I hit the send button. But that doesn't stop me. It only tells me to stop and look closer before I roll my coins out the door. And after that it takes a long time for me to get to a certain level of trust, but GM is doing rather well.

I fully agree on the muddied water though. Bitcoin was supposed to be secure, but there's virtually no protection from scams, for any coin, other then the fortress you build for yourself

[Genesis-Mining]

I do feel you have a valid point about the testimonial page. I don't think the picture is fake though, just badly cut around, but it is quite small, so they probably thought, well nobody is going to take our pic and zoom in to it and discuss it, Maybe the original had a curtain in the background or a strange pattern, like what you get from a Passport Photo booth, and so they thought it would look better to crop around it.

Their own photos?? Well they were probably done especially for promotional material and their own website. The other guy would have just probably emailed them a picture.

Anyway, going back to that testimonial, It is old and has been there a while, so I have an idea.

Put some more testimonials up. You have more customers now. I have read reviews, listened to your interviews, add some more!
[...]

The image is 664x664, as is all the other's. 'Inspect Elements' is a wonderful tool

And testimonials mean nothing in the digital age....unless they come from well-known and well-respected members of a community.

Hey!

The original photo is in color and our designer cropped the head (probably to get the right color scheme for the background). There is no way for a website to proof that a testimonial is real. To be honest, I do not see why cropping and changing the color to black-white is a big deal. I am willing to send the original picture to two forum members if this is helpful for anything (I have Rene's permission).

To make it very clear: Rene exist, he is a client of Genesis Mining and it is a real picture showing him. And yes, we should and will add more testimonials going forward. Thank you, Ian for the suggestion!

What annoyed me a bit is that having such a large image is actually a waste of bandwidth. I will talk to our webdesigner to reduce the image size to speed up the loading times of our webpage. So maybe a faster webpage is also the outcome of this discussion and this makes me happy

Have a good day everyone and happy mining,
  Marco

[Genesis-Mining]

Well, thanks for your insights then, Illutian. Cool that you spotted the pic, but really, I still think you're making more out of this silly pic then it's worth.

Illutian, you are welcome to meet members of our team in Munich, Germany or any Bitcoin conference around the globe that we attend. Just let us know which you prefer and we'll arrange a meeting.

Please let us know when you are around, we are happy to meet you.

Hint: Oktoberfest 2014 starts September 20th (Saturday) this year!

As a special highlight we will invite Rene as well

Cheers,
  Marco