Oshiman
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Activity: 52
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June 30, 2017, 12:14:51 PM |
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Thanks for the review
I am going to invest with them
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I HATE TABLES I HATE TABLES I HA(╯°□°）╯︵ ┻━┻ TABLES I HATE TABLES I HATE TABLES
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Zeta0S
Legendary
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Activity: 1890
Merit: 1031
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July 01, 2017, 11:01:06 AM |
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 Guys Dash is in stock right now  |
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darthmaul
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July 01, 2017, 08:31:36 PM |
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How do you mean you cannot trust any cloud mining companies? Whilst I do agree there is alot of stuff out there that is nothing short of a scam or ponzi, I do personally think IMHO that there is a place for cloud mining. As CTO of FinalHash (although i just created a bitcointalk account today, <-- straight newb i know) i get the gamut of customers. While we do have plenty of folks who want to be more in control of their units, there are also others who simply don't care. Generally I classify customers into 5 groups.
I don't really trust the cloud mining companies because of the high scam/ponzi rate, the low or no ROI, and the general approach of selling mining as a service. Unless the person has control over the miner and pool, it's not mining (in my opinion), your are investing in their infrastructure for a return. A lot of people who learn about bitcoin and then the fact you get get some as a reward for contributing to the network, is a strong attraction. An uninformed investor and his money are soon parted. With Bitcoin, the learning curve is a bit steep and mining just a little steeper, so newbies to cryptocurrency are ripe for the plucking and some companies take advantage of that through slick marketing and a failure to disclose real returns or lack thereof. How many cloud mining companies put a ROI calculator next to the buy button? Right now, there's nothing to force anyone to present a prospectus to a potential investment in cloud mining, so the ethics and responsibility to do so falls on the owner. You seem to be highly educated in the crypto space cloverme and it is important for educated individuals like your self to be scrupulous on such matters as to better inform the larger less informed community at large. I would love to hear your thoughts on my comments here. The more Highly Educated crypto folks that can dig down into things like this, the less likely folks are to run into another BFL scenario so I truly encourage this well though out counterpoint of yours.
Thanks, I've been mining for a few years in all different cryptos and have been lucky to get involved with a great community here. I've been in IT for 20 years and worked for NASA at one point, so I tend to leverage my background and experience where I can. My investments in crypto have been profitable and I like to pass that along to others here when and where I can. I've only fallen victim to one scam for 2BTC about a year ago and it was because I didn't do enough due diligence, after that I managed to escape all the others so far including Mt. Gox. So, I try to use any experience I have to educate people on either mining or bitcoin in general. Overall, good luck with your business venture. There will always be two kinds of people one agreeing and the other disagreeing. This creates more confusion regarding any question asked by first person. It is better to judge these things by voting. The thread poster must know that people have been on their luck as well as the period when the mining was at initial stages when it use to pay people. So these people will come and say to you that mining is amain and it pays me. Where off there will be group of people (maximum) who might have been victim of mining as they turned to be scam and Ponzi schemes. So they don't get paid for the investments they had make. These people will sing about badness of such earning ways. So its upto you to self vote the community and know better answer to your question. You can grab the support of external sources answering your question and then you can decide whether to go for mining or not. In general don't get confused with mixed answers here. Its all about personal experiences by everyone here. |
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BlackPanda
Legendary
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Activity: 1414
Merit: 1001
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July 02, 2017, 02:59:27 AM |
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I have not used genesis mining to do cloud mining. But I see a lot of reviews about the bad system in genesis.
Many of them do not benefit. I might think when I want to join in genesis. I do not want to spend my money in vain.
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dumada
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July 06, 2017, 02:03:43 PM |
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I have not used genesis mining to do cloud mining. But I see a lot of reviews about the bad system in genesis.
Many of them do not benefit. I might think when I want to join in genesis. I do not want to spend my money in vain.
I agree with you. It is better to build own rigs. |
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wantjokull
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July 06, 2017, 02:57:47 PM |
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Same with me, I bought a small contract on January this year just to try and see if I can make profit out of it. For the moment I still been paid around 10K-11K satoshis a day, but it will take almost 2 years for ROI, which I feel won't happen considering the comments from the senior members here. But I also saw in one of the threads that hashnest is profitable and have better support from admin, so I think I will try it out
Everything is written in plain English and the experience they encountered while their investment did not yield them profit does mean that it is not worth a try mining bitcoin at this moment ,you could mine other alt coins but mining bitcoin with a cloud miner ,it is really hard to get back your ROI ,you can do better things with the money you invest and if you still want to try it out,it is your choice. I'm still new and honestly not familiar with other coins. But i do noticed in many threads people using signature campaign and altcoin but I have no clue how to do that haha. Anyway thanks for your suggestion buddy, I will dig deeper on this. You should actually do that so that you will not lose your money for unsure instance and since you are new here well i think its truly better that you will just read for the threads who you like the most whenever it is for investments,altcoins nor gambling so that you can familiarize all the flows of that areas but for now just erase the thoughs about the cloudmining scheme since i can really say that they are not worth to invest on. Almost 99% people will tell you the same, don't go for genesis or any other cloud mining site. Even I have pose to many friends of mine that it is not worth investing into mining sites. Better to odd jobs and invest into your wallet bitcoin for earning return of investment that you get as the price of bitcoin keeps increasing. Also, work through bitcoin forum where you can find more opportunities to earn money. |
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frowsiter
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July 06, 2017, 04:59:38 PM |
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Hm, pretty convincing review about genesis mining someone made after so long. It looks good that there are still hopes from the mining companies these days but would it be still profitable in one or two years if the blockchain network difficulty keeps growing. Wondering how they will cop up with that problems.
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Zeta0S
Legendary
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Activity: 1890
Merit: 1031
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July 06, 2017, 07:21:12 PM |
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aoihs00
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July 07, 2017, 02:57:35 AM |
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Lets hope that Gavin doesn’t to turn like them into a Ponzi scheme of mining. He seems to be calm guy after reading all this. It is cool of him that he maintained genesis working so smoothly through all this year. Hope to see this site be live atlas for next 10 years and one can earn blooming profits from it really. If Gavin keeps giving public appearance by attending conferences then that would be realistic approach against his virtual machine.
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miakama
Newbie
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Activity: 69
Merit: 0
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July 10, 2017, 06:41:27 AM |
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Genesis Mining is legit and right now profitable. However be aware of the risks before you make any investment. Risks, Reviews and regularly calculations can be found at www.allcloudminers.comThe difficulty is rising too fast. It might be not so profitable soon. |
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Boinkit
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July 11, 2017, 07:41:53 AM |
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Genesis Mining is legit and right now profitable. Really? I'm mining at Genesis now for approximately 1 month. Due to the raising difficulty the revenue is lowering about 40% each month. Based on this data I created a calculation: | Datum | | | ETH/Monat | | | Σ ETH | | | €/ETH 250 | | | Σ € | | 01.07.2017 | | | 0,65513095 | | | 0,65513095 | | | 163,78 € | | | 163,78 € | | 01.08.2017 | | | 0,39307857 | | | 1,04820952 | | | 98,27 € | | | 262,05 € | | 01.09.2017 | | | 0,23584714 | | | 1,28405666 | | | 58,96 € | | | 321,01 € | | 01.10.2017 | | | 0,14150829 | | | 1,42556495 | | | 35,38 € | | | 356,39 € | | 01.11.2017 | | | 0,08490497 | | | 1,51046992 | | | 21,23 € | | | 377,62 € | | 01.12.2017 | | | 0,05094298 | | | 1,56141290 | | | 12,74 € | | | 390,35 € | | 01.01.2018 | | | 0,03056579 | | | 1,59197869 | | | 7,64 € | | | 397,99 € | | 01.02.2018 | | | 0,01833947 | | | 1,61031816 | | | 4,58 € | | | 402,58 € | | 01.03.2018 | | | 0,01100368 | | | 1,62132185 | | | 2,75 € | | | 405,33 € | | 01.04.2018 | | | 0,00660221 | | | 1,62792406 | | | 1,65 € | | | 406,98 € | | 01.05.2018 | | | 0,00396133 | | | 1,63188539 | | | 0,99 € | | | 407,97 € | | 01.06.2018 | | | 0,00237680 | | | 1,63426218 | | | 0,59 € | | | 408,57 € | | 01.07.2018 | | | 0,00142608 | | | 1,63568826 | | | 0,36 € | | | 408,92 € | | 01.08.2018 | | | 0,00085565 | | | 1,63654391 | | | 0,21 € | | | 409,14 € | | 01.09.2018 | | | 0,00051339 | | | 1,63705729 | | | 0,13 € | | | 409,26 € | | 01.10.2018 | | | 0,00030803 | | | 1,63736533 | | | 0,08 € | | | 409,34 € | | 01.11.2018 | | | 0,00018482 | | | 1,63755015 | | | 0,05 € | | | 409,39 € | | 01.12.2018 | | | 0,00011089 | | | 1,63766104 | | | 0,03 € | | | 409,42 € | | 01.01.2019 | | | 0,00006654 | | | 1,63772757 | | | 0,02 € | | | 409,43 € | | 01.02.2019 | | | 0,00003992 | | | 1,63776749 | | | 0,01 € | | | 409,44 € | | 01.03.2019 | | | 0,00002395 | | | 1,63779145 | | | 0,01 € | | | 409,45 € | | 01.04.2019 | | | 0,00001437 | | | 1,63780582 | | | 0,00 € | | | 409,45 € | | 01.05.2019 | | | 0,00000862 | | | 1,63781444 | | | 0,00 € | | | 409,45 € | | 01.06.2019 | | | 0,00000517 | | | 1,63781961 | | | 0,00 € | | | 409,45 € | | 01.07.2019 | | | 0,00000310 | | | 1,63782272 | | | 0,00 € | | | 409,46 € |
This calclucation is based on a eth price of 250€/ETH. At the moment this price dropped down to 155€/ETH. I expect to have some revenue within the first 6 months. After that I don't expect to mine any relevant amount. This means concretely: 60% loss based on an ETH price of 250€/ETH. |
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jamesweb6
Member
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Activity: 92
Merit: 10
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July 17, 2017, 03:57:59 PM |
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poloniex stome all my mining from genesis 1.83 bitcoin, now im into trouble , have 21 months left to my contracts of 4040 mhz x11 , if anyone is interested i would let them go for 10 k usd , we would go through genesis for payment and transfer, send email to websolutiona@gmail.com if interested, write genesis as title please thanks |
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reflector
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July 17, 2017, 05:07:04 PM |
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poloniex stome all my mining from genesis 1.83 bitcoin, now im into trouble , have 21 months left to my contracts of 4040 mhz x11 , if anyone is interested i would let them go for 10 k usd , we would go through genesis for payment and transfer, send email to websolutiona@gmail.com if interested, write genesis as title please thanks I have created account 2 days before in Genesis mining site. I am not aware of how cloud mining works good. It's asks me buy a hashpower to start mining bitcoin as well other altcoins. I can able to invest 0.04 btc on that. Will it be profitable to see the profit everyday? |
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Zeta0S
Legendary
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Activity: 1890
Merit: 1031
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July 17, 2017, 07:52:06 PM |
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poloniex stome all my mining from genesis 1.83 bitcoin, now im into trouble , have 21 months left to my contracts of 4040 mhz x11 , if anyone is interested i would let them go for 10 k usd , we would go through genesis for payment and transfer, send email to websolutiona@gmail.com if interested, write genesis as title please thanks I have created account 2 days before in Genesis mining site. I am not aware of how cloud mining works good. It's asks me buy a hashpower to start mining bitcoin as well other altcoins. I can able to invest 0.04 btc on that. Will it be profitable to see the profit everyday? Ethereum and Dash (x11) Mining is doing very well, I think Ethereum can do 500+ Dollar closer to the end of this Year so a mining contract would do pretty good  Also you can just buy coins and hold them. Ethereum seems to be cheap this week |
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BitHodler
Legendary
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Activity: 1526
Merit: 1179
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July 17, 2017, 08:48:57 PM |
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Also you can just buy coins and hold them. Ethereum seems to be cheap this week Wow! I am surprised. Instead of solely advising people to burn their hard earned cash on shitty cloud mining contracts, you did the right thing by recommending them to directly buy whatever coin. Directly investing in any crypto coin has always turned out to be far more profitable than mining. On top of that, you'll be making decent profits in a relatively short time with crypto being extremely hot and volatile. |
BSV is not the real Bcash. Bcash is the real Bcash.
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nethan1btc
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July 17, 2017, 11:54:20 PM |
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Also you can just buy coins and hold them. Ethereum seems to be cheap this week Wow! I am surprised. Instead of solely advising people to burn their hard earned cash on shitty cloud mining contracts, you did the right thing by recommending them to directly buy whatever coin. Directly investing in any crypto coin has always turned out to be far more profitable than mining. On top of that, you'll be making decent profits in a relatively short time with crypto being extremely hot and volatile. Generally it has a good point and exactly I won't contradict with that statement, because to add up more positive thoughts here I must confirm that crypto had gave me good financial wealth as my previous token was sold with enouvh btc price as well. So never mind that minings or whatsoever investments that may link to ponzi's online; warned you it may cause you disappointments in the future. |
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dumada
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July 21, 2017, 02:15:41 PM |
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Also you can just buy coins and hold them. Ethereum seems to be cheap this week Wow! I am surprised. Instead of solely advising people to burn their hard earned cash on shitty cloud mining contracts, you did the right thing by recommending them to directly buy whatever coin. Directly investing in any crypto coin has always turned out to be far more profitable than mining. On top of that, you'll be making decent profits in a relatively short time with crypto being extremely hot and volatile. I think it is a good idea to buy the coin directly. The difficulty is rising too fast. |
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Pastonia
Newbie
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Activity: 55
Merit: 0
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July 23, 2017, 06:16:08 PM |
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Genesis Mining is legit and right now profitable. Really? I'm mining at Genesis now for approximately 1 month. Due to the raising difficulty the revenue is lowering about 40% each month. Based on this data I created a calculation: | Datum | | | ETH/Monat | | | Σ ETH | | | €/ETH 250 | | | Σ € | | 01.07.2017 | | | 0,65513095 | | | 0,65513095 | | | 163,78 € | | | 163,78 € | | 01.08.2017 | | | 0,39307857 | | | 1,04820952 | | | 98,27 € | | | 262,05 € | | 01.09.2017 | | | 0,23584714 | | | 1,28405666 | | | 58,96 € | | | 321,01 € | | 01.10.2017 | | | 0,14150829 | | | 1,42556495 | | | 35,38 € | | | 356,39 € | | 01.11.2017 | | | 0,08490497 | | | 1,51046992 | | | 21,23 € | | | 377,62 € | | 01.12.2017 | | | 0,05094298 | | | 1,56141290 | | | 12,74 € | | | 390,35 € | | 01.01.2018 | | | 0,03056579 | | | 1,59197869 | | | 7,64 € | | | 397,99 € | | 01.02.2018 | | | 0,01833947 | | | 1,61031816 | | | 4,58 € | | | 402,58 € | | 01.03.2018 | | | 0,01100368 | | | 1,62132185 | | | 2,75 € | | | 405,33 € | | 01.04.2018 | | | 0,00660221 | | | 1,62792406 | | | 1,65 € | | | 406,98 € | | 01.05.2018 | | | 0,00396133 | | | 1,63188539 | | | 0,99 € | | | 407,97 € | | 01.06.2018 | | | 0,00237680 | | | 1,63426218 | | | 0,59 € | | | 408,57 € | | 01.07.2018 | | | 0,00142608 | | | 1,63568826 | | | 0,36 € | | | 408,92 € | | 01.08.2018 | | | 0,00085565 | | | 1,63654391 | | | 0,21 € | | | 409,14 € | | 01.09.2018 | | | 0,00051339 | | | 1,63705729 | | | 0,13 € | | | 409,26 € | | 01.10.2018 | | | 0,00030803 | | | 1,63736533 | | | 0,08 € | | | 409,34 € | | 01.11.2018 | | | 0,00018482 | | | 1,63755015 | | | 0,05 € | | | 409,39 € | | 01.12.2018 | | | 0,00011089 | | | 1,63766104 | | | 0,03 € | | | 409,42 € | | 01.01.2019 | | | 0,00006654 | | | 1,63772757 | | | 0,02 € | | | 409,43 € | | 01.02.2019 | | | 0,00003992 | | | 1,63776749 | | | 0,01 € | | | 409,44 € | | 01.03.2019 | | | 0,00002395 | | | 1,63779145 | | | 0,01 € | | | 409,45 € | | 01.04.2019 | | | 0,00001437 | | | 1,63780582 | | | 0,00 € | | | 409,45 € | | 01.05.2019 | | | 0,00000862 | | | 1,63781444 | | | 0,00 € | | | 409,45 € | | 01.06.2019 | | | 0,00000517 | | | 1,63781961 | | | 0,00 € | | | 409,45 € | | 01.07.2019 | | | 0,00000310 | | | 1,63782272 | | | 0,00 € | | | 409,46 € |
This calclucation is based on a eth price of 250€/ETH. At the moment this price dropped down to 155€/ETH. I expect to have some revenue within the first 6 months. After that I don't expect to mine any relevant amount. This means concretely: 60% loss based on an ETH price of 250€/ETH. I think it is better to buy the coin directly. |
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Boinkit
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July 25, 2017, 10:35:18 AM |
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I think it is better to buy the coin directly.
Oh really?  Btw. Since 5 days there's no payout anymore. Does anybody have the same problem? |
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tucos
Newbie
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Activity: 8
Merit: 0
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July 26, 2017, 10:16:04 AM |
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I think it is time that I write about my investment failure here as well. Everything was in front of my eyes and I couldn't see the negative outcome.
I think it is time for another update. https://blockchain.info/address/1hiJahLpuiD5ooMg9CQPwrYjXdDhJ3NP4Here you can see income I have received from genesis-mining. It is now 5.2 BTC total (5.61-0.41 - I have bought from a friend) I think we will now settle at 6 BTC after maybe another year. Genesis mining web site now converts 5.2*current price of BTC which shows profit on USD. Here is the dilemma: If you think BTC value will not increase you will not be paid so there is no point in mining, if you think BTC value will increase in the future what is the point in mining, just keep the damn thing in a wallet. Either way do not invest in miningMining is profitable in China where there is cheap electricity and they are pretty much exporting coal in a profitable way. But still they are not increasing their assets in terms of BTC, they are getting USD. |
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