Genesis-Mining Review

[Pastonia]

Genesis Mining and hashflare and all these cloud mining sites are bullshit

I know it by looking those videos of people promoting this shit like craig grant or trevon james or other weird idiots

Oh by the way isnt this fat ugly Adam guerbuez behind hashflare, lol, no more needs to be said

Oh my God, I have just posted a thread after been impressed by one of the guys you named.

I calculated using some mining calculator and it seems very straightforward to breakeven in few months if let say difficulty is raised then it can take 2 or 3 more months to breakeven.

https://bitcointalk.org/index.php?topic=1853892.0

The problem is that the difficulty is rising too fast.

[coolcoinz]

So this is the best one to invest in right now?
With litecoin killing it it has made me rethink what I thought about cloudmining before.

Yes' it's the best one if you want to lose your money. Go back a few pages and see the comments of actual customers, or read one of many threads where people test their service https://bitcointalk.org/index.php?topic=1822293.20
If the rising price of LTC is the only thing that made you rethink cloud mining, just buy LTC.

[dumada]

So this is the best one to invest in right now?
With litecoin killing it it has made me rethink what I thought about cloudmining before.

Yes' it's the best one if you want to lose your money. Go back a few pages and see the comments of actual customers, or read one of many threads where people test their service https://bitcointalk.org/index.php?topic=1822293.20
If the rising price of LTC is the only thing that made you rethink cloud mining, just buy LTC.

I think so. If you know how to build mining rigs, it is better to do it yourself.

[Boinkit]

Well just for "fun" (and greed) I invested some money and bought a 2-years contract for 40 MH/s Ether.

After 4 days it's telling me:

Code:

dagger-hashimoto ETH balance of 0.02642168 added to your account on 2017-06-08T12:00:00+00:00
dagger-hashimoto ETH balance of 0.02754519 added to your account on 2017-06-07T12:00:00+00:00
dagger-hashimoto ETH balance of 0.02756201 added to your account on 2017-06-06T12:00:00+00:00
dagger-hashimoto ETH balance of 0.02933555 added to your account on 2017-06-05T12:00:00+00:00

I hope the difficulty isn't rising up in that speed. If my revenue is losing ~3% every day, my experiment with genesis-mining will become a very expensive one.

Netherless here's my promo-code for a 3% discount, if someone want's to lose some money too:

oCaZ84

An additional question:
I can put my mining power to different Altcoins. Would it be useful to spend some mining power to DASH? And what's better: get the mined Altcoins or change everything to BTC?

[simon149]

It won't be long until I break even to be honest..
Wrote something about it here: http://bitcoin-introduction.blogspot.com.es/2017/05/roi-with-genesis-mining.html

I will try to update this blog in a few weeks to tell you about the payout and the 'loss of that' over time.
In my last calculation the break even point would be around 153 days, which is gonna be a bit more with the faster increasing difficulty.

[Swtrse]

I will try it too with a small plan just to test. I will return with an analysis in a few weeks.

If someone like to experiment too, here is my Promo code for a 3% discount.
HecUJ6

[lumeire]

I will try it too with a small plan just to test. I will return with an analysis in a few weeks.

If someone like to experiment too, here is my Promo code for a 3% discount.
HecUJ6

3% discount is very, very small. I haven't tried Genesis mining, but from my experience investing in cloudmining like Hashnest, it's possible to RoI provided you can sell your Ghs on a secondary market, of course for a higher price.

[onlineportal]

Why already 2 days there was no payment in the statistics. I'm worried..

[Boinkit]

Thougt the same. The statistics started with the 3rd or 4th day.

I wonder, when they will transfer the mined coins to my wallet. Until now it's only shown int the orders section.

[simon149]

have a look at some of the Payouts of genesis mining:


ROI seems to be decent amount of time.

[Zeta0S]

have a look at some of the Payouts of genesis mining:


ROI seems to be decent amount of time.

Thanks for sharing

[mixterz]

OK so for an expensive laugh i decided to put in 316 euro .
1-TH/s in Bitcoin
5 MH/s in Ethereum

around 150 euro in each

Issue i have now, do I allocate the hashrate into different coins like Litecoin and Dash or do i leave it in Bitcoin 100% and Ether for 100% ?
or does someone know of a better spread that will return more profit ?

When i see some return i will report back.

As others have done : 3% discount code: tDsf6z

[satishmoun]

Do not invest in this i lost over $70.

[simon149]

@mixterz; in case you decide to allocate payout in different currencies keep in mind that you need a certain minimum for payout.
Might be better for you to payout everything in BTC and ETH and if you want change it yourself to other coins?

[Boinkit]

Issue i have now, do I allocate the hashrate into different coins like Litecoin and Dash or do i leave it in Bitcoin 100% and Ether for 100% ?

I got 0.0625 TH/s BTC by an Affiliate Code and put this completely to Dash. So far I get in section payments:

17.06.2017      DASH      0.00024800 i    XoXaYEbcLm48qPUSSCkE7iSx1LymQhijk9 
16.06.2017      DASH      0.00026199 i    XoXaYEbcLm48qPUSSCkE7iSx1LymQhijk9 
15.06.2017      DASH      0.00024185 i    XoXaYEbcLm48qPUSSCkE7iSx1LymQhijk9

The Dashboard shows you always the Hashrate on the contracts you have concluded. In the mining assignment section you can put the mining power to a different coin.

Now after about 2 weeks of mining, my earnings started with 0.02933555 ETH on the first day and reached 0.02190501 ETH yesterday. Hence, within 2 weeks the efficiency lowered about 25%. This will be a quite expensive laugh for me.

I thougt in mining some Dash on Hashflare.io too. But I didn't find a working discount code. So I didn't conclude a contract. Was a good decision.

[simon149]

there are multiple variables determining the payout.
but yeah if that 25% diminsh in 2 weeks continues it sucks.

I definetely do not get such a high diminishment in my payouts.
It is important to look over a longer time, not just one day.
Sometimes it is just a bad day and the next one picks up again.

[Isaaq.Almaguer]

yup, I got 80MH/s about 2 weeks ago mining ETH, in the past 10 days, my payouts decreased 20%.  But at the same time, difficulty did increase 20% in mining ether. So it checks out on their part. But this way, I don't think I will get my ROI anytime soon. Unless Ether prices go way up.

[suchmoon]

yup, I got 80MH/s about 2 weeks ago mining ETH, in the past 10 days, my payouts decreased 20%.  But at the same time, difficulty did increase 20% in mining ether. So it checks out on their part. But this way, I don't think I will get my ROI anytime soon. Unless Ether prices go way up.

How does the price going up help you, if in the end you still get fewer ethers than you put in?

[Isaaq.Almaguer]

You're right, it would be more profitable in that case just to buy Ether and just sit on it.

[Pastonia]

You're right, it would be more profitable in that case just to buy Ether and just sit on it.

That is right. If the mining difficulty rises fast, it is better to buy coins directly.