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

[Genesis-Mining]

We would like to tell you some good news here at Genesis Mining.

Three weeks ago we were running out of Scrypt miners and had to stop selling Scrypt hashpower. We are now happy that Scrypt is back in town!

The amount will be limited for now, but more miners are on their way to our facilities. We use the latest available technology and are therefore able to offer lower prices than ever before:

They now start at 19.98 USD for 2 MH/s

Pricing are as follows

Gold 2 MH/s  USD 19.98
$9.99 per MH/s

Platinum 20 MH/s USD 195
$9.75 per MH/s

Diamond 100 MH/s USD 949
$9.49 per MH/s

Our daily maintenance fee for these new Scrypt contracts are 0.04 USD per MH/s.

As some of you have noticed, we have recently introduced WorldCoin as a choice for our Scrypt miners as well.

Happy Mining everyone!

[1713481206]

1713481206

[1713481206]

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[Zeta0S]

We would like to tell you some good news here at Genesis Mining.

Today, Scrypt contracts are back, but only for a limited time.

We have also changed our pricing for our Scrypt contracts.

They now start at 19.98 USD for 2 MH/s, from 17.99 USD per MH/s.

Fees are unchanged at 0.05 USD per MH/s.

As some of you have noticed, we have recently introduced WorldCoin as a choice for our Scrypt miners as well.

Happy Mining everyone!

Wow, nice price discount on Scrypt. Do not forget Voucher code: MOON  
WorldCoin is doing good today  

[crawler]

Its the 3rd time on genesis i can see dropping payouts and prices for scrypt hashrate

the 1st mh i bought for about 128€!
payouts dropped fast, followed by dropping hashrate prices. cause for my first try there was no break even in sight, i reinvested the collected btc and some og my money to buy more then 20mh (the newer lifetime fee contracts)

and now ?

wonder wonder, payouts dropping again (and dont stop!)... hashrate becomes a little cheaper and  - speculations - the same sh** starts agein  

[Wintermute]

The difficulty increase in scrypt surprised me as well. In the beginning I lost some money with GPU mining. The good thing is that the technology evolution is not that fast anymore, but it is still very risky. At least LTC/USD prices are more stable now.

Sha difficulty has not changed a lot since beginning of November - this is quite remarkable.

Only time will tell!

[galdur]

Their SHA payout dropped now, but still reasonable.

But the contract price needs to go down by 50%

to be attractive.

Scrypt, also still way overpriced in spite of the cut.

[Icon]

Our daily maintenance fee for these new Scrypt contracts are 0.04 USD per MH/s.

Question does this new lower maintenance fee also apply to your older contracts as well or just new contracts?

Icon

[IanFoxley]

Our daily maintenance fee for these new Scrypt contracts are 0.04 USD per MH/s.

Question does this new lower maintenance fee also apply to your older contracts as well or just new contracts?

Icon

From the way it was written, I think it is for the new contracts only, perhaps because they are newer Asics which are more power efficient and got better capacity so those lower fees and lower prices can be passed along to those people that will be purchasing hashpower from them.

[TXTCLA55]

Our daily maintenance fee for these new Scrypt contracts are 0.04 USD per MH/s.

Question does this new lower maintenance fee also apply to your older contracts as well or just new contracts?

Icon

From the way it was written, I think it is for the new contracts only, perhaps because they are newer Asics which are more power efficient and got better capacity so those lower fees and lower prices can be passed along to those people that will be purchasing hashpower from them.

Hrm. Thats unfortunate. I really wish we had the option to sell old contracts and buy up new ones. That'd give me some hope of breaking even faster.

[Serlite]

Our daily maintenance fee for these new Scrypt contracts are 0.04 USD per MH/s.

Question does this new lower maintenance fee also apply to your older contracts as well or just new contracts?

Icon

From the way it was written, I think it is for the new contracts only, perhaps because they are newer Asics which are more power efficient and got better capacity so those lower fees and lower prices can be passed along to those people that will be purchasing hashpower from them.

Hrm. Thats unfortunate. I really wish we had the option to sell old contracts and buy up new ones. That'd give me some hope of breaking even faster.

Haha, that'd give me hope of breaking even at all. XP

[tylerderden]

X11 isnt profitable at all right now so thats probly why we havent heard anything from genesis about it. I really wish they would just let us mine at our own pools with our hash. I would buy more and not even bitch about the payouts if they would do that, the first cloud company to make that happen will make alot of money.

[nanard]

X11 isnt profitable at all right now so thats probly why we havent heard anything from genesis about it. I really wish they would just let us mine at our own pools with our hash. I would buy more and not even bitch about the payouts if they would do that, the first cloud company to make that happen will make alot of money.

Agree. Killer feature.

[alienesb]

X11 isnt profitable at all right now so thats probly why we havent heard anything from genesis about it.

I lol because nothing's profitable at Genesis right now.

[Marco Krohn (GM)]

X11 isnt profitable at all right now so thats probly why we havent heard anything from genesis about it. I really wish they would just let us mine at our own pools with our hash. I would buy more and not even bitch about the payouts if they would do that, the first cloud company to make that happen will make alot of money.

Agree. Killer feature.

We like the idea, though there are a few things that need to be considered:

1) we want to keep a simple user interface and not confuse other miners; this can be solved for sure, but needs to be done carefully
2) the hashrate can only be sent on an average basis. For example, if a user wants to point 1 MH/s to a pool and our smallest miner is 24 MH/s then we would have to point 24 MH/s to this pool for one hour. This is not ideal.
3) if the pool is crappy, or there are some technical problems we would see high reject rates and unhappy faces.

Probably we would require that mining on your own pool happens at least for 24 hours. Furthermore, we would probably require that the maintenance fee is paid from the user balance. In turn the hashrate would be fully used for mining coins.

Technically, it can be done for sure in a reasonable time frame. This would be an advanced feature which only experienced users should use.

Please let me know if you have any comments.

[tylerderden]

X11 isnt profitable at all right now so thats probly why we havent heard anything from genesis about it. I really wish they would just let us mine at our own pools with our hash. I would buy more and not even bitch about the payouts if they would do that, the first cloud company to make that happen will make alot of money.

Agree. Killer feature.

We like the idea, though there are a few things that need to be considered:

1) we want to keep a simple user interface and not confuse other miners; this can be solved for sure, but needs to be done carefully
2) the hashrate can only be sent on an average basis. For example, if a user wants to point 1 MH/s to a pool and our smallest miner is 24 MH/s then we would have to point 24 MH/s to this pool for one hour. This is not ideal.
3) if the pool is crappy, or there are some technical problems we would see high reject rates and unhappy faces.

Probably we would require that mining on your own pool happens at least for 24 hours. Furthermore, we would probably require that the maintenance fee is paid from the user balance. In turn the hashrate would be fully used for mining coins.

Technically, it can be done for sure in a reasonable time frame. This would be an advanced feature which only experienced users should use.

Please let me know if you have any comments.

Hey Marco, yeah i totally get all of the complications involved. Maybe (at first anyway) have it only available on approved pools or something. I know alot of pool owners would do whatever they need to do in order to make sure their pools comply with your system just because they know they can get some decent fees with the amount of hashpower involved. You could maybe make it so the user has to have 24 mhs (or whatever size the actual miner is) almost like gaws hosted miners, in order to be able to take control of it and point it where you want. You would also have to think about the ramifications of pointing a ton of hash at lower difficulty coins as well. However this is the one feature that pretty much everyone that I know is wanting REALLY bad. I would imagine if you guys could pull it off it would be a huge milestone for cloud mining. Your fees are a tough one to find a workable solution for. You would almost need a wallet that people mine to as kind of a middle man so you can extract your fees before they can withdraw or something. You guys are smart so I will leave that for you to figure out LOL! If you can make it happen it would really be the thing that blows all of the competition away.

If you guys do decide to try and do this and you need to bounce ideas off of someone, Wuher (from ipominer, partners with multipool.us) is a really smart dude that might be able to help you solve some of the technical aspects. Anyhow, good luck. There are alot of us waiting on a cloud service to implement this, it would be really cool if it was you guys that can make it happen.

[Mike18feb]

Well, you can rent out an entire machine. There are quite some people, or communities!, willing to go for the big hashrate, and they don't scare easily because of difficult interfaces and settings, or even failed pools  or connections. No need to change the regular interface then for regular people, and maybe just add another?

Just a quick thought...

[Icon]

X11 isnt profitable at all right now so thats probly why we havent heard anything from genesis about it. I really wish they would just let us mine at our own pools with our hash. I would buy more and not even bitch about the payouts if they would do that, the first cloud company to make that happen will make alot of money.

Agree. Killer feature.

We like the idea, though there are a few things that need to be considered:

1) we want to keep a simple user interface and not confuse other miners; this can be solved for sure, but needs to be done carefully
2) the hashrate can only be sent on an average basis. For example, if a user wants to point 1 MH/s to a pool and our smallest miner is 24 MH/s then we would have to point 24 MH/s to this pool for one hour. This is not ideal.
3) if the pool is crappy, or there are some technical problems we would see high reject rates and unhappy faces.

Probably we would require that mining on your own pool happens at least for 24 hours. Furthermore, we would probably require that the maintenance fee is paid from the user balance. In turn the hashrate would be fully used for mining coins.

Technically, it can be done for sure in a reasonable time frame. This would be an advanced feature which only experienced users should use.

Please let me know if you have any comments.

Well I got an GAWsome plan..
Mirror what a x amount of hashrate on Y pool would earn and pay us that way and not even move your miners..

Icon

PS

Hey it worked for GAW 

 

[alienesb]

X11 isnt profitable at all right now so thats probly why we havent heard anything from genesis about it. I really wish they would just let us mine at our own pools with our hash. I would buy more and not even bitch about the payouts if they would do that, the first cloud company to make that happen will make alot of money.

Agree. Killer feature.

We like the idea, though there are a few things that need to be considered:

1) we want to keep a simple user interface and not confuse other miners; this can be solved for sure, but needs to be done carefully
2) the hashrate can only be sent on an average basis. For example, if a user wants to point 1 MH/s to a pool and our smallest miner is 24 MH/s then we would have to point 24 MH/s to this pool for one hour. This is not ideal.
3) if the pool is crappy, or there are some technical problems we would see high reject rates and unhappy faces.

Probably we would require that mining on your own pool happens at least for 24 hours. Furthermore, we would probably require that the maintenance fee is paid from the user balance. In turn the hashrate would be fully used for mining coins.

Technically, it can be done for sure in a reasonable time frame. This would be an advanced feature which only experienced users should use.

Please let me know if you have any comments.

Well I got an GAWsome plan..
Mirror what a x amount of hashrate on Y pool would earn and pay us that way and not even move your miners..

Icon

PS

Hey it worked for GAW 

 

Thanks for trolling by

[crazyivan]

Has anyone calculated ROI with these new prices and fees? What does it come to, 8 months?

[Puppet]

In order to accurately rate genesis-mining for the 101 list in my signature, Id like some answers to a few questions. If anyone could help answer these, mostly for SHA:

- there a public mining address, and/or can customers direct their hashrate to their own pool?
- Has any asic vendor endorsed genesis mining and confirmed they are a substantial customer of theirs?
- Have pictures or video's been published of their datacenter ?
- Is there a way to compare sold hashrate vs (provably deployed) hashrate to ensure there is no fractional reserve mining going on?
- Are there referral programs, and if so, whats their yield?

Thx

(edit duh, just realized I posted this in alt coin section. Oh well)

[IanFoxley]

In order to accurately rate genesis-mining for the 101 list in my signature, Id like some answers to a few questions. If anyone could help answer these, mostly for SHA:

- there a public mining address, and/or can customers direct their hashrate to their own pool?
- Has any asic vendor endorsed genesis mining and confirmed they are a substantial customer of theirs?
- Have pictures or video's been published of their datacenter ?
- Is there a way to compare sold hashrate vs (provably deployed) hashrate to ensure there is no fractional reserve mining going on?
- Are there referral programs, and if so, whats their yield?

Thx

(edit duh, just realized I posted this in alt coin section. Oh well)

Miners can not mine at their own pools.
Theres lots of pictures of their farms, just look in this thread for example or their Facebook pages or Twitter..Lots of pictures. There are images around of their huge GPU farms from earlier in the year on some threads for example

There are referral programmes. Users get a code they can give out, like mine in the signature or there are referral links people can use.

I am sure GM will respond to some of those other questions