Genesis-Mining Review

[malickie]

From what I am seeing it looks like HashNest has a maintenance Fee of $0.0005796 GHS/Day and Genesis is currently at $0.00055 GHS/Day.  So currently the more profitable one is Genesis, but the caveat there is that you cannot sell your Hashrate at a later date like you can on HashNest. 

[Zeta0S]

From what I am seeing it looks like HashNest has a maintenance Fee of $0.0005796 GHS/Day and Genesis is currently at $0.00055 GHS/Day.  So currently the more profitable one is Genesis, but the caveat there is that you cannot sell your Hashrate at a later date like you can on HashNest. 

Seems correct.

[QuestionQuest]

From what I am seeing it looks like HashNest has a maintenance Fee of $0.0005796 GHS/Day and Genesis is currently at $0.00055 GHS/Day.  So currently the more profitable one is Genesis, but the caveat there is that you cannot sell your Hashrate at a later date like you can on HashNest.  

Seems correct.

From what I am seeing it looks like HashNest has a maintenance Fee of $0.0005796 GHS/Day and Genesis is currently at $0.00055 GHS/Day.  So currently the more profitable one is Genesis, but the caveat there is that you cannot sell your Hashrate at a later date like you can on HashNest.  

Ok - I think I got it. Thank you for the information.

P.S.: A pitty - there is no "Thank you" or "Thumbs up" or "Give point" button in here 

[zenitzz]

For everyone who thinks Genesis has stopped paying.  Go to your history, you probably do not have enough hashrate to get the daily payout minimum.  You are still getting paid, you just aren't noticing it because like I said you do not have enough hashrate for a daily payout.  As for everything else, I tend to not like 1 year contracts because they can fluctuate too wildly.  The whole point of a "Lifetime" Contract is more for those who are in it for the long haul.  If you want quick and dirty find someplace else, granted you are not going to find much that will do that unless your willing to take risks in something like HashOcean or some such thing.

So let's say you invest a couple hundred into Genesis and get daily payouts of .0001 or something and all the sudden one BTC is worth $1500, your ROI radically decreased all the sudden.  That's what people who invest in something like this typically are looking at.

Are you sure???
gm is 100% scam because it is clear from the very beginning that you will never get ROI !!!
End of January I receive the following message:
-------------------
I am sorry to tell you that the maintenance fee overpassed the payouts due to the last difficultyincrease on 13th. Jan.
I calculated your mining results on coinwarz.com:
http://www.coinwarz.com/cryptocurrency/?sha256hr=22&sha256p=0.00&sha256pc=0.0000&sha256c=true
result was this:

BTC / USD rate: 380 Hashpower (GHs): 22
Maintenancefee USD: 0,044 0,002 per GHs
Maintenancefee BTC: 0,00011579
Coinwarz.com result BTC: 0,00009218
Maintenancefee BTC: 0,00011579
Result minus fee BTC: -0,00002361

so you had an negative payout since then, because the maintenance fee was higher than the mining result.
As it is stated in the terms of contract, your contract will be terminated in case there are more than consecutive 20 days no payouts.
--------------------
The Big Question is: what includes this "Maintenance fee" and how and who calculate this???!!!
It is definitely not a fair play from gm side!!!
I finish with my investments in "cloud mining" - better to invest into mining hardware myself!!!

Yes, too hard get ROI invest in cloud mining and in all cloud mining case no one get a profit or get back their money. i hope your calculation will make anyone think first before they put a money in cloud mining.

[bapparabi]

For everyone who thinks Genesis has stopped paying.  Go to your history, you probably do not have enough hashrate to get the daily payout minimum.  You are still getting paid, you just aren't noticing it because like I said you do not have enough hashrate for a daily payout.  As for everything else, I tend to not like 1 year contracts because they can fluctuate too wildly.  The whole point of a "Lifetime" Contract is more for those who are in it for the long haul.  If you want quick and dirty find someplace else, granted you are not going to find much that will do that unless your willing to take risks in something like HashOcean or some such thing.

So let's say you invest a couple hundred into Genesis and get daily payouts of .0001 or something and all the sudden one BTC is worth $1500, your ROI radically decreased all the sudden.  That's what people who invest in something like this typically are looking at.

Are you sure???
gm is 100% scam because it is clear from the very beginning that you will never get ROI !!!
End of January I receive the following message:
-------------------
I am sorry to tell you that the maintenance fee overpassed the payouts due to the last difficultyincrease on 13th. Jan.
I calculated your mining results on coinwarz.com:
http://www.coinwarz.com/cryptocurrency/?sha256hr=22&sha256p=0.00&sha256pc=0.0000&sha256c=true
result was this:

BTC / USD rate: 380 Hashpower (GHs): 22
Maintenancefee USD: 0,044 0,002 per GHs
Maintenancefee BTC: 0,00011579
Coinwarz.com result BTC: 0,00009218
Maintenancefee BTC: 0,00011579
Result minus fee BTC: -0,00002361

so you had an negative payout since then, because the maintenance fee was higher than the mining result.
As it is stated in the terms of contract, your contract will be terminated in case there are more than consecutive 20 days no payouts.
--------------------
The Big Question is: what includes this "Maintenance fee" and how and who calculate this???!!!
It is definitely not a fair play from gm side!!!
I finish with my investments in "cloud mining" - better to invest into mining hardware myself!!!

Yes, too hard get ROI invest in cloud mining and in all cloud mining case no one get a profit or get back their money. i hope your calculation will make anyone think first before they put a money in cloud mining.

due to recnet increase in difficultly level ..getting roi take longer then we expected ..so you have to wait for long time to get roi

[QuestionQuest]

For everyone who thinks Genesis has stopped paying.  Go to your history, you probably do not have enough hashrate to get the daily payout minimum.  You are still getting paid, you just aren't noticing it because like I said you do not have enough hashrate for a daily payout.  As for everything else, I tend to not like 1 year contracts because they can fluctuate too wildly.  The whole point of a "Lifetime" Contract is more for those who are in it for the long haul.  If you want quick and dirty find someplace else, granted you are not going to find much that will do that unless your willing to take risks in something like HashOcean or some such thing.

So let's say you invest a couple hundred into Genesis and get daily payouts of .0001 or something and all the sudden one BTC is worth $1500, your ROI radically decreased all the sudden.  That's what people who invest in something like this typically are looking at.

Are you sure???
gm is 100% scam because it is clear from the very beginning that you will never get ROI !!!
End of January I receive the following message:
-------------------
I am sorry to tell you that the maintenance fee overpassed the payouts due to the last difficultyincrease on 13th. Jan.
I calculated your mining results on coinwarz.com:
http://www.coinwarz.com/cryptocurrency/?sha256hr=22&sha256p=0.00&sha256pc=0.0000&sha256c=true
result was this:

BTC / USD rate: 380 Hashpower (GHs): 22
Maintenancefee USD: 0,044 0,002 per GHs
Maintenancefee BTC: 0,00011579
Coinwarz.com result BTC: 0,00009218
Maintenancefee BTC: 0,00011579
Result minus fee BTC: -0,00002361

so you had an negative payout since then, because the maintenance fee was higher than the mining result.
As it is stated in the terms of contract, your contract will be terminated in case there are more than consecutive 20 days no payouts.
--------------------
The Big Question is: what includes this "Maintenance fee" and how and who calculate this???!!!
It is definitely not a fair play from gm side!!!
I finish with my investments in "cloud mining" - better to invest into mining hardware myself!!!

Yes, too hard get ROI invest in cloud mining and in all cloud mining case no one get a profit or get back their money. i hope your calculation will make anyone think first before they put a money in cloud mining.

due to recnet increase in difficultly level ..getting roi take longer then we expected ..so you have to wait for long time to get roi

... and while waiting longer to get your ROI there will be a new chip out and your contract ends, because of the terms.
I understand who will earn the money 100% safe. The casino --- I mean the farm
The point: If there would be a lot of gold coming out of a mine - why share and take money/bitcoins for it?

Finally I got it and for now I wont spend money in it.
I think if a farm is very very new (new machines, new chip etc.) then it can work with a fresh new contract.
And its fair, because you help to build the farm with your money.
At this point (bitcoin split - new asics incoming etc.) - no thank you.

Now I want an asic with 10nm chip tech. + living inside a powerplant

[BitcoinSupremo]

You should not even compare Hashnest with Genesis Mining in the first place. Why? Because if you buy (imaginative figures) 10 THS in Genesis , then your money is stuck with them, and maybe they shut down your miner after 2-3 months saying its not anymore profitable, guess what you lost big. Different with Hashnest where you can trade your mining power.

[QuestionQuest]

You should not even compare Hashnest with Genesis Mining in the first place. Why? Because if you buy (imaginative figures) 10 THS in Genesis , then your money is stuck with them, and maybe they shut down your miner after 2-3 months saying its not anymore profitable, guess what you lost big. Different with Hashnest where you can trade your mining power.

But what I understand from Hashnest that even the Hash you can buy and sell has already a fix maintaince fee.
That is the reason why some Hash-offers are cheaper comparing to other offers per Hash.
No offer on Hashnest sold from a customer would ever give me ROI.

Only if the btc price would rise (but in this case I just can invest in bitcoins, too)
or
if the new asic chips from newcomer to b2c market coming soon will flop and bitmain has not the need of release their 16/14/12/10nm - then the bitcoin split will lift up the bitcoin chart and nothing will happen.

I think it was bitfury annoucing to send the 16nm chips to retailer since march 2016.
And who was the 14nm company? (forgot it - was another mining farm company with ideads of an own asic chip - have to look up my 1000 favorite bookmarks)
Anyways, they just said more information will follow soon on 14nm.
16nm seems to be out to system builders, retailers, engieneer ... , but we will see if a b2c machine will follow.
The retailers can sell to the public, but they dont have to and can use the advantage first to themselves, then to other business partner with high invests and then to all - at the end

If those two will fail for private customer market and no one else I didnt see or forgot at this point will open up with a new chip I didnt see the need of bitmain to release somethink more effective out of the desk
In this case my own S7 will stay positive and a mining offer will stay good, too. Does not matter if Genesis in Iceland or Antpool @China.
If not and hash power will loose effectivity, both ways are no longer nice and you have to invest in new hardware or hashpower, because of a contract end.

6cent of power cost is nice @Genesis
My are 0.00 - limited - but enough free power left

I decided to invest in own GPU-machines for some Scrypt, Scrpt-N, Quark or whatever - or some more ASIC for SHA256(d) - I will see.

First I will await ...
... 1) new asics and tests about them. I am not in a hurry and I am fine with batch #3 or higher
... 2) the bitcoin split

I think its time to relax and wait a little bit. Bitcoin is climbing already, slow, but up, up, up, down, up, up => up
And how the market really will change - no one can say 100%. Its bitcoin :p

[thbglbwsk]

this is my experience with them....i've invested in 5TH/s  lifetime contract after 6 month the bitcoin prize has gone down  for 1 month and they have closed my contract forever even if the bitcoin price has gone up again.

we all known that btc in one year can lose  easily 50% of his value so IMO:

NO chance to get  ROI  DO NOT INVEST

ive lost almost 500$ with my first contract .... so guys be carefull

[BitcoinSupremo]

this is my experience with them....i've invested in 5TH/s  lifetime contract after 6 month the bitcoin prize has gone down  for 1 month and they have closed my contract forever even if the bitcoin price has gone up again.

we all known that btc in one year can lose  easily 50% of his value so IMO:

NO chance to get  ROI  DO NOT INVEST

ive lost almost 500$ with my first contract .... so guys be carefull

I am sorry for you loss, looks like the exact thing they do to every one who buys a lot of hashing power. "Oh we are sorry but difficulty has increased, bitcoin price has gone down, so your miner is not profitable anymore so we are shutting it off".
Thats why you should always do your homework to try to learn as much as possible for the site where intend to invest. Based on your account I see you become interested to know about them after them scamming you.

[thbglbwsk]

yep i've learned the lesson

[bapparabi]

yep i've learned the lesson

not sure how but i have using them for more then 6-7 month and without any problem ..and getting bitcoin ..daily ..you can provide some proof that you have 3THs with them ..invested ..because its to possible to close account suddenly ..

[thbglbwsk]

mmm i've a couple of emails of my tickets but they are not actually a proof... i can post  a screenshot of my account http://www.sleeat.com/genesis.jpg

first part is the proof of my 5th/s
second part is the expected payout
third part is the current payout (4 cent per day lol)

i've no reason to lie (and i wish had no reason for say that they are scammers  )

but actually this is the true.

i'm too lazy for find tickets history but in few words the close my 99% of my contracts because bitcoin was too low (210$)

i hope this help someone.

[bapparabi]

mmm i've a couple of emails of my tickets but they are not actually a proof... i can post  a screenshot of my account http://www.sleeat.com/genesis.jpg

first part is the proof of my 5th/s
second part is the expected payout
third part is the current payout (4 cent per day lol)

i've no reason to lie (and i wish had no reason for say that they are scammers  )

but actually this is the true.

i'm too lazy for find tickets history but in few words the close my 99% of my contracts because bitcoin was too low (210$)

i hope this help someone.

Have you contacted them for this issue there may be some issue in your account because some time back this happened and solved by them

[CjMapope]

mmm i've a couple of emails of my tickets but they are not actually a proof... i can post  a screenshot of my account http://www.sleeat.com/genesis.jpg

first part is the proof of my 5th/s
second part is the expected payout
third part is the current payout (4 cent per day lol)

i've no reason to lie (and i wish had no reason for say that they are scammers  )

but actually this is the true.

i'm too lazy for find tickets history but in few words the close my 99% of my contracts because bitcoin was too low (210$)

i hope this help someone.

Have you contacted them for this issue there may be some issue in your account because some time back this happened and solved by them

i personally would like to see YOUR proof of still making good coin here bapp.
NOONE survived the difficulty rise at genesis, proof you did?
hashbought 6-7 months ago, is not even 30% roi and i doubt your getting much pay

[bapparabi]

mmm i've a couple of emails of my tickets but they are not actually a proof... i can post  a screenshot of my account http://www.sleeat.com/genesis.jpg

first part is the proof of my 5th/s
second part is the expected payout
third part is the current payout (4 cent per day lol)

i've no reason to lie (and i wish had no reason for say that they are scammers  )

but actually this is the true.

i'm too lazy for find tickets history but in few words the close my 99% of my contracts because bitcoin was too low (210$)

i hope this help someone.

Have you contacted them for this issue there may be some issue in your account because some time back this happened and solved by them

i personally would like to see YOUR proof of still making good coin here bapp.
NOONE survived the difficulty rise at genesis, proof you did?
hashbought 6-7 months ago, is not even 30% roi and i doubt your getting much pay

yes i not getting huge but small amount i have around 600GHs

http://prntscr.com/azt091

this payout ..

[thbglbwsk]

nope 4 cent per day... i've now 5th/s  plugged on my home network and i still  earn 2$ x day when i'm unlucky  and i pay 0,14 €/kWh ( very expensive)

for buy 5th/s now you spent 1200$ on genesis mining if they worth you 4 cent per day you will touch ROI after 83 years (scam imo)

do your math and make your opinion

[CjMapope]

mmm i've a couple of emails of my tickets but they are not actually a proof... i can post  a screenshot of my account http://www.sleeat.com/genesis.jpg

first part is the proof of my 5th/s
second part is the expected payout
third part is the current payout (4 cent per day lol)

i've no reason to lie (and i wish had no reason for say that they are scammers  )

but actually this is the true.

i'm too lazy for find tickets history but in few words the close my 99% of my contracts because bitcoin was too low (210$)

i hope this help someone.

Have you contacted them for this issue there may be some issue in your account because some time back this happened and solved by them

i personally would like to see YOUR proof of still making good coin here bapp.
NOONE survived the difficulty rise at genesis, proof you did?
hashbought 6-7 months ago, is not even 30% roi and i doubt your getting much pay

yes i not getting huge but small amount i have around 600GHs

http://prntscr.com/azt091

this payout ..

ya dude, you have way different contracts then the original users there.
your contracts i assume are of the 0.00045 maintence fee?
most of us got older contracts and are all unpaying ;(
i actually have the same as you 600ghs and heres what mine payes ;\
sorry i dint believe you haha but heres my payouts


and that's ya 610gh/s ;(

so thats why noone recommends here man, all the old custys got SCREWED ;(

[bapparabi]

mmm i've a couple of emails of my tickets but they are not actually a proof... i can post  a screenshot of my account http://www.sleeat.com/genesis.jpg

first part is the proof of my 5th/s
second part is the expected payout
third part is the current payout (4 cent per day lol)

i've no reason to lie (and i wish had no reason for say that they are scammers  )

but actually this is the true.

i'm too lazy for find tickets history but in few words the close my 99% of my contracts because bitcoin was too low (210$)

i hope this help someone.

Have you contacted them for this issue there may be some issue in your account because some time back this happened and solved by them

i personally would like to see YOUR proof of still making good coin here bapp.
NOONE survived the difficulty rise at genesis, proof you did?
hashbought 6-7 months ago, is not even 30% roi and i doubt your getting much pay

yes i not getting huge but small amount i have around 600GHs

http://prntscr.com/azt091

this payout ..

ya dude, you have way different contracts then the original users there.
your contracts i assume are of the 0.00045 maintence fee?
most of us got older contracts and are all unpaying ;(
i actually have the same as you 600ghs and heres what mine payes ;\
sorry i dint believe you haha but heres my payouts


and that's ya 610gh/s ;(

so thats why noone recommends here man, all the old custys got SCREWED ;(

yes my account have 3 type of maintenance  fee
0.00095
0.00085
0.00055

as i have old account but not that much old ..so ia m right now getting ..but not sure till how much time it will survive ..

[CjMapope]

mmm i've a couple of emails of my tickets but they are not actually a proof... i can post  a screenshot of my account http://www.sleeat.com/genesis.jpg

first part is the proof of my 5th/s
second part is the expected payout
third part is the current payout (4 cent per day lol)

i've no reason to lie (and i wish had no reason for say that they are scammers  )

but actually this is the true.

i'm too lazy for find tickets history but in few words the close my 99% of my contracts because bitcoin was too low (210$)

i hope this help someone.

Have you contacted them for this issue there may be some issue in your account because some time back this happened and solved by them

i personally would like to see YOUR proof of still making good coin here bapp.
NOONE survived the difficulty rise at genesis, proof you did?
hashbought 6-7 months ago, is not even 30% roi and i doubt your getting much pay

yes i not getting huge but small amount i have around 600GHs

http://prntscr.com/azt091

this payout ..

ya dude, you have way different contracts then the original users there.
your contracts i assume are of the 0.00045 maintence fee?
most of us got older contracts and are all unpaying ;(
i actually have the same as you 600ghs and heres what mine payes ;\
sorry i dint believe you haha but heres my payouts


and that's ya 610gh/s ;(

so thats why noone recommends here man, all the old custys got SCREWED ;(

yes my account have 3 type of maintenance  fee
0.00095
0.00085
0.00055

as i have old account but not that much old ..so ia m right now getting ..but not sure till how much time it will survive ..

ya see my contracts are old maintence is more than double ;\
so dumb, since i never hit 40% roi even ;\
0.0015 per GH/s  is my maintence fee
ouch ;;(
idk, i stopped putting money there, but put it in hashnest, now i have over 20th there and genesis couldnt touch those kinda payouts lmao
plus if i need money i just sell some hash, spend my btc
ill never go back to genesis myself, plain and simple