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

[fractal02]

@Genesis-Mining : Can we sell our account ?
Do you escrow ?

If yes, I sell mine : 7 MH/s @ 0.4 BTC bought in June

[Genesis-Mining]

We are currently working extensively on a new  structure for our clients which will give our new and also our old devoted customers more flexibility.

Meanwhile, is there any feedback for the new user interface that we may optimize? Please let us know. Feedback is extremely valuable for us!

[BRUCELLA]

Could you explain me this business model of genesis :

if i want to invest for 10Mh for 1 year, i will pay : ฿ 1.037
if i want to invest for 10Mh for 2 year, i will pay : ฿ 2.636 .... 2.54x more than 1 year...

in a normal case, with Mh becoming more and more cheap with the time, we should pay less than 2x, no ?

Reply from FinalHash

BRUCELLA you are absolutely correct. I am the CTO of finalhash and good friends with Marco. I just sent him this and said WTF? He responded and said pretty much, "Oh that is a bug, thanks for the heads up."  He went on to say that he and his team are working to fix the bug and he would comment back here with the result.

Good catch bro.  It is important for educated crypto folks like yourself to keep finding discrepancies in this to see how the company responds going forward.  In this way we hold them accountable and thereby avoid future BFL things. However, it is important that we do the double checks but also allow time for the companies to respond you know?

Hey BRUCELLA,

Thank you for detecting this bug in our systems! We have immediately fixed it and upgraded all clients who purchased longer contracts than 1 year with free hashpower according to the new prices.

We hope you like our new discounted rates for longer contracts!

Hi, you havn't fixed the bug ?

1Mh/s for 1 year = 49 dollars
1Mh/s for 2 year = 124.49 dollars

?? it's not hard to solved i think ?

[offmenut]

Maybe you guys should read this: https://hashtalk.org/topic/3898/hashlet-genesis-is-here

If you don't start looking after your customers right away your business is over - but maybe you don't care now you've mugged everyone off for 1 year contracts as in a years time your going to be left with a pile of money and a few data centers full of miners. I expect you wouldn't of even managed to get a single customer to ROI.

GAW are doing it right and making you guys look like thieves and scam artists.

No-one in their right mind would buy contracts off you atm.

[marife01]

Just thought I would let you all know that Genesis Mining has once again lowered their prices.

Had a peek at their website just now. These are all for 1 year contracts.
Examples:

1 Megahash for USD 49.00, was USD 98,00  With a 3 % discount promocode USD 47.53

2 Megahash for USD 98.00, was USD 159,00  With a 3 % discount promocode  USD 95.06

20 Megahash for USD 880.00, was USD 1,380.00   With a 3 % discount promocode  USD 853,60

100 Megahash for USD 3,3900.00, was USD 5,900.00  With a 3 % discount promocode  USD 3783,00

Promocodes can be found all over, feel free to choose whichever one you like. Mine is in my signature.

Thank you Ian for announcing the new prices faster than we could react!

These are the new official prices! Since the litecoin difficulty is not growing anymore, we think this could be a highly attractive deal! https://bitcoinwisdom.com/litecoin/difficulty

Also we want to note that there is currently a 10% discount code for all scrypt contracts out there! It is "POT10" as a gift for the users after adding Potcoin to our system.

Also to celebrate accepting DRK as payment you can get a 5% discount on all contracts that are payed with Darkcoin. The promo code for this is "10Dark".

We think this is great news for everybody!

These are good new prices and updates. Could get better deals as time goes on.

[IanFoxley]

Just thought I would let you all know that Genesis Mining has once again lowered their prices.

Had a peek at their website just now. These are all for 1 year contracts.
Examples:

1 Megahash for USD 49.00, was USD 98,00  With a 3 % discount promocode USD 47.53

2 Megahash for USD 98.00, was USD 159,00  With a 3 % discount promocode  USD 95.06

20 Megahash for USD 880.00, was USD 1,380.00   With a 3 % discount promocode  USD 853,60

100 Megahash for USD 3,3900.00, was USD 5,900.00  With a 3 % discount promocode  USD 3783,00

Promocodes can be found all over, feel free to choose whichever one you like. Mine is in my signature.

Thank you Ian for announcing the new prices faster than we could react!

These are the new official prices! Since the litecoin difficulty is not growing anymore, we think this could be a highly attractive deal! https://bitcoinwisdom.com/litecoin/difficulty

Also we want to note that there is currently a 10% discount code for all scrypt contracts out there! It is "POT10" as a gift for the users after adding Potcoin to our system.

Also to celebrate accepting DRK as payment you can get a 5% discount on all contracts that are payed with Darkcoin. The promo code for this is "10Dark".

We think this is great news for everybody!

These are good new prices and updates. Could get better deals as time goes on.

You need to edit your signature Marifre01!

[monim1]

We are currently working extensively on a new  structure for our clients which will give our new and also our old devoted customers more flexibility.

Meanwhile, is there any feedback for the new user interface that we may optimize? Please let us know. Feedback is extremely valuable for us!

I hope Genesis-mining is going to find out something helpful for us. It is important to ensure ROI.

[IanFoxley]

We are currently working extensively on a new  structure for our clients which will give our new and also our old devoted customers more flexibility.

Meanwhile, is there any feedback for the new user interface that we may optimize? Please let us know. Feedback is extremely valuable for us!

Do you want your feedback using your support portal or private messaging you here?

[Daniel007]

Is it possible to sell contract? How will be transferred to other account without the intervention of GM?  

If its possible i am selling mine for 0,06BTC/MHs (Total 45.83MHs)  

I am also thinking that. Is it possible to sell contract? If, i would like to know the procedure.

How much are you wanting to sell, perhaps Mike would be interested

Although as they are yearly contracts, it might be hard for you to sell something that has only 8 or 9 months on it.

Thanks for your information. I will contact with mike via PM.

[IanFoxley]

Maybe you guys should read this: https://hashtalk.org/topic/3898/hashlet-genesis-is-here

If you don't start looking after your customers right away your business is over - but maybe you don't care now you've mugged everyone off for 1 year contracts as in a years time your going to be left with a pile of money and a few data centers full of miners. I expect you wouldn't of even managed to get a single customer to ROI.

GAW are doing it right and making you guys look like thieves and scam artists.

No-one in their right mind would buy contracts off you atm.

Nobody forced you to take up a contract at the time.

When I got my first contract, back in May, it cost me 0.51 bitcoin for 1 Megahash which was upgraded a few days later to 1.8 Megahash, due to a change in price about the time I purchased it. They went above and beyond to give me that increased, I was expecting far less, considering the change in price was 0.1 BTC.  BTC was about 520 USD at the time, so I got 1.8 Megahash for around 260 USD.

Back in May, GAW were not even selling hashlets, just Asics, but I went and looked at their website in May to see what you could buy and I saw that back then, you could buy a 5.2 Mhash Gridseed Blade Asic for 1399,00 USD.

That works out at about 270 USD a Megahash, then there was delivery costs, waiting for it to be delivered, setting it up and then crossing your fingers and hoping that it wouldn't die after a few months or else there are all those problems of having to send it back, or with some companies, being told that it is only guaranteed for 30 days and now you are shafted.
Can you see where I going with this??

I knew when I signed up with GM, that the prices would probably fall, that Asics would get cheaper and if the daily payments went downhill then it would be tough to make ROI.

That's why it is a risk.

Yes, right now, there are some good deals with the competitors, but I know that GM also know this and have already said they have something in the pipeline to keep up with the others.

Ian.

[fractal02]

Maybe you guys should read this: https://hashtalk.org/topic/3898/hashlet-genesis-is-here

If you don't start looking after your customers right away your business is over - but maybe you don't care now you've mugged everyone off for 1 year contracts as in a years time your going to be left with a pile of money and a few data centers full of miners. I expect you wouldn't of even managed to get a single customer to ROI.

GAW are doing it right and making you guys look like thieves and scam artists.

No-one in their right mind would buy contracts off you atm.

Nobody forced you to take up a contract at the time.

When I got my first contract, back in May, it cost me 0.51 bitcoin for 1 Megahash which was upgraded a few days later to 1.8 Megahash, due to a change in price about the time I purchased it. They went above and beyond to give me that increased, I was expecting far less, considering the change in price was 0.1 BTC.  BTC was about 520 USD at the time, so I got 1.8 Megahash for around 260 USD.

Back in May, GAW were not even selling hashlets, just Asics, but I went and looked at their website in May to see what you could buy and I saw that back then, you could buy a 5.2 Mhash Gridseed Blade Asic for 1399,00 USD.

That works out at about 270 USD a Megahash, then there was delivery costs, waiting for it to be delivered, setting it up and then crossing your fingers and hoping that it wouldn't die after a few months or else there are all those problems of having to send it back, or with some companies, being told that it is only guaranteed for 30 days and now you are shafted.
Can you see where I going with this??

I knew when I signed up with GM, that the prices would probably fall, that Asics would get cheaper and if the daily payments went downhill then it would be tough to make ROI.

That's why it is a risk.

Yes, right now, there are some good deals with the competitors, but I know that GM also know this and have already said they have something in the pipeline to keep up with the others.

Ian.

GM must reward early buyers !

GAW reward early buyers.

I bought 7 MH/s in June...no rewards...no bonus hashrate...no time bonus...nothing !

Why would you think i'm goin to put more BTC for a company that don't care about my ROI ?

From Gaw : "offering temporary mining contracts to their customers. It's funny. It's not just that the contracts are rip off expensive, but there's a deeper issue at heart"

[marife01]

Just thought I would let you all know that Genesis Mining has once again lowered their prices.

Had a peek at their website just now. These are all for 1 year contracts.
Examples:

1 Megahash for USD 49.00, was USD 98,00  With a 3 % discount promocode USD 47.53

2 Megahash for USD 98.00, was USD 159,00  With a 3 % discount promocode  USD 95.06

20 Megahash for USD 880.00, was USD 1,380.00   With a 3 % discount promocode  USD 853,60

100 Megahash for USD 3,3900.00, was USD 5,900.00  With a 3 % discount promocode  USD 3783,00

Promocodes can be found all over, feel free to choose whichever one you like. Mine is in my signature.

Thank you Ian for announcing the new prices faster than we could react!

These are the new official prices! Since the litecoin difficulty is not growing anymore, we think this could be a highly attractive deal! https://bitcoinwisdom.com/litecoin/difficulty

Also we want to note that there is currently a 10% discount code for all scrypt contracts out there! It is "POT10" as a gift for the users after adding Potcoin to our system.

Also to celebrate accepting DRK as payment you can get a 5% discount on all contracts that are payed with Darkcoin. The promo code for this is "10Dark".

We think this is great news for everybody!

These are good new prices and updates. Could get better deals as time goes on.

You need to edit your signature Marifre01!

I have not noticed that, okay hehe. I hope genesis mining will accept Paypal for payment of contracts.

[IanFoxley]

Just thought I would let you all know that Genesis Mining has once again lowered their prices.

Had a peek at their website just now. These are all for 1 year contracts.
Examples:

1 Megahash for USD 49.00, was USD 98,00  With a 3 % discount promocode USD 47.53

2 Megahash for USD 98.00, was USD 159,00  With a 3 % discount promocode  USD 95.06

20 Megahash for USD 880.00, was USD 1,380.00   With a 3 % discount promocode  USD 853,60

100 Megahash for USD 3,3900.00, was USD 5,900.00  With a 3 % discount promocode  USD 3783,00

Promocodes can be found all over, feel free to choose whichever one you like. Mine is in my signature.

Thank you Ian for announcing the new prices faster than we could react!

These are the new official prices! Since the litecoin difficulty is not growing anymore, we think this could be a highly attractive deal! https://bitcoinwisdom.com/litecoin/difficulty

Also we want to note that there is currently a 10% discount code for all scrypt contracts out there! It is "POT10" as a gift for the users after adding Potcoin to our system.

Also to celebrate accepting DRK as payment you can get a 5% discount on all contracts that are payed with Darkcoin. The promo code for this is "10Dark".

We think this is great news for everybody!

These are good new prices and updates. Could get better deals as time goes on.

You need to edit your signature Marifre01!

I have not noticed that, okay hehe. I hope genesis mining will accept Paypal for payment of contracts.

I don't think Paypal will happen soon, too many people would scam GM, by purchasing and then a week later, getting Paypal to refund them and Paypal does tend to like to side with the buyer most of the time.

[offmenut]

Just to quote more of the GAW post which applies perfectly:

"To every supplier in this industry:

From this moment forward, the only way to succeed in this industry is to fight tooth and nail for your customer's ROI.

End of story.

If you cut corners and prioritize anything above meeting your promise to deliver on time and actually give miners a chance to ROI on their equipment (before you do!), then you're going to see your market share vanish before your eyes. Your customers will flee and take their hard-earned money to a company that deserves it.

Miners have options - you now live in a world where you have to fight to be one of them.

So please, all of you, send that message far and wide and make this clear: The era of false promises and profit mongering by ASIC companies is over.

Hashlet is here. Your move"

[fractal02]

Just to quote more of the GAW post which applies perfectly:

"To every supplier in this industry:

From this moment forward, the only way to succeed in this industry is to fight tooth and nail for your customer's ROI.

End of story.

If you cut corners and prioritize anything above meeting your promise to deliver on time and actually give miners a chance to ROI on their equipment (before you do!), then you're going to see your market share vanish before your eyes. Your customers will flee and take their hard-earned money to a company that deserves it.

Miners have options - you now live in a world where you have to fight to be one of them.

So please, all of you, send that message far and wide and make this clear: The era of false promises and profit mongering by ASIC companies is over.

Hashlet is here. Your move"

THIS !!!

[Genesis-Mining]

Could you explain me this business model of genesis :

if i want to invest for 10Mh for 1 year, i will pay : ฿ 1.037
if i want to invest for 10Mh for 2 year, i will pay : ฿ 2.636 .... 2.54x more than 1 year...

in a normal case, with Mh becoming more and more cheap with the time, we should pay less than 2x, no ?

Reply from FinalHash

BRUCELLA you are absolutely correct. I am the CTO of finalhash and good friends with Marco. I just sent him this and said WTF? He responded and said pretty much, "Oh that is a bug, thanks for the heads up."  He went on to say that he and his team are working to fix the bug and he would comment back here with the result.

Good catch bro.  It is important for educated crypto folks like yourself to keep finding discrepancies in this to see how the company responds going forward.  In this way we hold them accountable and thereby avoid future BFL things. However, it is important that we do the double checks but also allow time for the companies to respond you know?

Hey BRUCELLA,

Thank you for detecting this bug in our systems! We have immediately fixed it and upgraded all clients who purchased longer contracts than 1 year with free hashpower according to the new prices.

We hope you like our new discounted rates for longer contracts!

Hi, you havn't fixed the bug ?

1Mh/s for 1 year = 49 dollars
1Mh/s for 2 year = 124.49 dollars

?? it's not hard to solved i think ?

It's now fixed. Thank you for reminding us again! We upgraded everybody for free who's prices got influenced by the bug.

BRUCELLA, please contact us by pm with the email of your GM account and we will upgrade your account with a 1 MH/s bug bounty.

It's really great to see that the community is taking care of our service and helps us to improve our interface and products. We take every feedback serious and are working hard to implement features desired by the community!

Stay tuned for future releases!

[crazyivan]

I ll repeat the question which I asked 2 weeks ago: IS THERE ANY SINGLE GENESIS MINING USER WHO HAS REACHED ROI?
At least 1? Anyone? Anywhere?

I guess not. If this is the case, this whole thread about what they introduce or what you guys mine is pointless cause none of use is here to send them money unless you enjoy losing money. Go find something else more profitable cause using Genesis Mining benefits ONLY Genesis Mining.

Prove me wrong.

[IanFoxley]

I ll repeat the question which I asked 2 weeks ago: IS THERE ANY SINGLE GENESIS MINING USER WHO HAS REACHED ROI?
At least 1? Anyone? Anywhere?

I guess not. If this is the case, this whole thread about what they introduce or what you guys mine is pointless cause none of use is here to send them money unless you enjoy losing money. Go find something else more profitable cause using Genesis Mining benefits ONLY Genesis Mining.

Prove me wrong.

Ask again in Feb-March time which is when GM started selling contracts I believe.

You can ask me in the middle of May.

[crazyivan]

I ll repeat the question which I asked 2 weeks ago: IS THERE ANY SINGLE GENESIS MINING USER WHO HAS REACHED ROI?
At least 1? Anyone? Anywhere?

I guess not. If this is the case, this whole thread about what they introduce or what you guys mine is pointless cause none of use is here to send them money unless you enjoy losing money. Go find something else more profitable cause using Genesis Mining benefits ONLY Genesis Mining.

Prove me wrong.

Ask again in Feb-March time which is when GM started selling contracts I believe.

You can ask me in the middle of May.

Dude, there is NO WAY you can reach ROI from purchased hash. I understand you give your best to promote that discount code they gave you but this is not what I was talking about, I was talking about hash purchased directly from Genesis Mining. If things are going so well for you, show me your calculation, what ROI have you received so far, when did you buy your hash and at what price? If I am wrong, I will apologize but there is simply NO WAY anyone can make money of Genesis Mining cloud hashing service ATM.

[IanFoxley]

I ll repeat the question which I asked 2 weeks ago: IS THERE ANY SINGLE GENESIS MINING USER WHO HAS REACHED ROI?
At least 1? Anyone? Anywhere?

I guess not. If this is the case, this whole thread about what they introduce or what you guys mine is pointless cause none of use is here to send them money unless you enjoy losing money. Go find something else more profitable cause using Genesis Mining benefits ONLY Genesis Mining.

Prove me wrong.

Ask again in Feb-March time which is when GM started selling contracts I believe.

You can ask me in the middle of May.

Dude, there is NO WAY you can reach ROI from purchased hash. I understand you give your best to promote that discount code they gave you but this is not what I was talking about, I was talking about hash purchased directly from Genesis Mining. If things are going so well for you, show me your calculation, what ROI have you received so far, when did you buy your hash and at what price? If I am wrong, I will apologize but there is simply NO WAY anyone can make money of Genesis Mining cloud hashing service ATM.

I never said anything about if things are going well for me or not, just saying that my contract is for a year, I am not even a third through it yet, but as I have another 9 or so months before my contract finishes then if you ask me then, I can tell you whether I reached it or not. I do have contracts with other providers too, My contracts with GM are small, I bought 0.8btc worth between May and June, daily payments when I started were around 0.003 BTC a day, that was with 1.8 Megahash, so not too bad, by June though it started falling fast, I had 3.8 Megahash by then. So if it makes ROI, so be it, still a load of months left yet.