Genesis-Mining Review

[ahmed_bodi]

hmm in that case genesis's supposed lifetime contracts might be similar right?

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[zdaz14]

hmm in that case genesis's supposed lifetime contracts might be similar right?

Good point, I'd have to see the price and details for those before I could make any comment really.

[thedonkdonk7]

I'd reckon that genesis mining would ROI better than other alternatives such as CEX.io but im not sure. Anyone have any comparisons?

I have found that few members are saying on chance of ROI. I am bit confuse.

[crazyivan]

No chance of me making a ROI with these guys as things stand unfortunately.

I took my 1 year contract out on the 10th of June for 0.433 Btc for 2 Mhz (approximately $277.12).

So far, earnings in just under 3 months have come to $66. The rate of earnings is decreasing steadily however, with approximately only $11 earnt over the past 27 days!

I think if BTC price gets back above $720 dollars this should make a ROI, but if the price continues to stay low there is zero chance of making a ROI.

If however you do feel like experimenting with the service then please click my affiliate link, as if your confident on an increase in Btc price this should make you some profit.

I was thinking about starting with them. Now I think it would be better to wait and let's see what is going to happen with BTC. Thanks a lot for your helpful information.

I also use Genesis Mining, not very happy with the result, it is highly unlikely I will be reaching ROI.
There are far better cloud mining services out there, I use a couple of these and I can compare results easily.

[FinalHash]

No chance of me making a ROI with these guys as things stand unfortunately.

I took my 1 year contract out on the 10th of June for 0.433 Btc for 2 Mhz (approximately $277.12).

So far, earnings in just under 3 months have come to $66. The rate of earnings is decreasing steadily however, with approximately only $11 earnt over the past 27 days!

I think if BTC price gets back above $720 dollars this should make a ROI, but if the price continues to stay low there is zero chance of making a ROI.

If however you do feel like experimenting with the service then please click my affiliate link, as if your confident on an increase in Btc price this should make you some profit.

I was thinking about starting with them. Now I think it would be better to wait and let's see what is going to happen with BTC. Thanks a lot for your helpful information.

I also use Genesis Mining, not very happy with the result, it is highly unlikely I will be reaching ROI.
There are far better cloud mining services out there, I use a couple of these and I can compare results easily.

So I just spoke with Marco about things last night. (Marco is the CEO of genesis). He is launching LifeTime Contracts today and upgrading all other previous folks to the same. Now, from what he told me, a lifetime contract is one that you get for as long as there is profit on the machine. So meaning a good long while seeing as how they have dirt cheap power. So this kind of changes things for you I would presume, no?

[crazyivan]

No chance of me making a ROI with these guys as things stand unfortunately.

I took my 1 year contract out on the 10th of June for 0.433 Btc for 2 Mhz (approximately $277.12).

So far, earnings in just under 3 months have come to $66. The rate of earnings is decreasing steadily however, with approximately only $11 earnt over the past 27 days!

I think if BTC price gets back above $720 dollars this should make a ROI, but if the price continues to stay low there is zero chance of making a ROI.

If however you do feel like experimenting with the service then please click my affiliate link, as if your confident on an increase in Btc price this should make you some profit.

I was thinking about starting with them. Now I think it would be better to wait and let's see what is going to happen with BTC. Thanks a lot for your helpful information.

I also use Genesis Mining, not very happy with the result, it is highly unlikely I will be reaching ROI.
There are far better cloud mining services out there, I use a couple of these and I can compare results easily.

So I just spoke with Marco about things last night. (Marco is the CEO of genesis). He is launching LifeTime Contracts today and upgrading all other previous folks to the same. Now, from what he told me, a lifetime contract is one that you get for as long as there is profit on the machine. So meaning a good long while seeing as how they have dirt cheap power. So this kind of changes things for you I would presume, no?

This might improve situation a bit, considering they offer a variety of coins to mine, let see how it goes.
Definitely step in the right direction.

[martinnew]

Hey Blue,

Talked to Marco again.

Got Great News for you.

Here is a promo code for genesis contracts

BTCTALK

It is a 5% off code. I just checked that it works and it does.

Not sure if that helps but In all honesty i think changing your account specifically would definitely cause problems. Although, i do know that there are some really nice things coming out soon.

Recently there is a 10% discount code POT10, not sure if this is still valid till now.

[ahmed_bodi]

No chance of me making a ROI with these guys as things stand unfortunately.

I took my 1 year contract out on the 10th of June for 0.433 Btc for 2 Mhz (approximately $277.12).

So far, earnings in just under 3 months have come to $66. The rate of earnings is decreasing steadily however, with approximately only $11 earnt over the past 27 days!

I think if BTC price gets back above $720 dollars this should make a ROI, but if the price continues to stay low there is zero chance of making a ROI.

If however you do feel like experimenting with the service then please click my affiliate link, as if your confident on an increase in Btc price this should make you some profit.

I was thinking about starting with them. Now I think it would be better to wait and let's see what is going to happen with BTC. Thanks a lot for your helpful information.

I also use Genesis Mining, not very happy with the result, it is highly unlikely I will be reaching ROI.
There are far better cloud mining services out there, I use a couple of these and I can compare results easily.

So I just spoke with Marco about things last night. (Marco is the CEO of genesis). He is launching LifeTime Contracts today and upgrading all other previous folks to the same. Now, from what he told me, a lifetime contract is one that you get for as long as there is profit on the machine. So meaning a good long while seeing as how they have dirt cheap power. So this kind of changes things for you I would presume, no?

If thats the case then ROI should increase a fair bit imo. since an income would likely be coming in from mining longer

[IanFoxley]

GM have lowered their SHA256 and Scrypt prices and their contracts are now lifetime.

10 GH/s is now 9.99 USD, same price as competition but all fees are included.

[ahmed_bodi]

so then that means its the cheapest of all the cloud hosting providers?

[zdaz14]

so then that means its the cheapest of all the cloud hosting providers?

It's an interesting idea but having to pay $10 extra for any order under $150 made me decide to pass on trying it.

[IanFoxley]

GM have lowered their SHA256 and Scrypt prices and their contracts are now lifetime.

10 GH/s is now 9.99 USD, same price as competition but all fees are included.

Here is their new price list.

SHA:

Gold       :    10 Gh/s      -    9.99 USD (9.99 cents per Gh/s)
Platinum  :  1000 Gh/s    -    989  USD (9.89 cents per Gh/s)
Diamond  :10,000 Gh/s  -    9790 USD (9.79 cents per Gh/s)


I have asked them about fees because I noticed something in their new contracts.

So I want to clarify that.

If there are going to be fees then according to what I saw, it would be 8 cents per MH/s, but will update this post when I find out more.

Cheers

Ian

[IanFoxley]

so then that means its the cheapest of all the cloud hosting providers?

It's an interesting idea but having to pay $10 extra for any order under $150 made me decide to pass on trying it.

Can you explain a little bit more about that.

[zdaz14]

so then that means its the cheapest of all the cloud hosting providers?

It's an interesting idea but having to pay $10 extra for any order under $150 made me decide to pass on trying it.

Can you explain a little bit more about that.

Went to check out with 30 Ghs (to give it a shot) and it said I had to pay another $10 on top of that since it was under $150 for the bank wire. So, as a recent graduate working my first post-college job, I decided that $10 could better be spent else where. Like another 10 Ghs from GAW.

[IanFoxley]

so then that means its the cheapest of all the cloud hosting providers?

It's an interesting idea but having to pay $10 extra for any order under $150 made me decide to pass on trying it.

Can you explain a little bit more about that.

Went to check out with 30 Ghs (to give it a shot) and it said I had to pay another $10 on top of that since it was under $150 for the bank wire. So, as a recent graduate working my first post-college job, I decided that $10 could better be spent else where. Like another 10 Ghs from GAW.

Oh I see, when you went to pay with USD, yes it is a shame that GM do not do credit cards yet.

[zdaz14]

so then that means its the cheapest of all the cloud hosting providers?

It's an interesting idea but having to pay $10 extra for any order under $150 made me decide to pass on trying it.

Can you explain a little bit more about that.

Went to check out with 30 Ghs (to give it a shot) and it said I had to pay another $10 on top of that since it was under $150 for the bank wire. So, as a recent graduate working my first post-college job, I decided that $10 could better be spent else where. Like another 10 Ghs from GAW.

Oh I see, when you went to pay with USD, yes it is a shame that GM do not do credit cards yet.

Yeah, it is. Probably wanting to avoid back charges for a variety of reasons.

[FinalHash]

Just had another call with Marco,

He said he is in the process of getting credit cards up.  He is on a call with the bank actually now.  Since it is international and all that he has to jump through some hoops it sounds like. Should be getting those online by end of next week.

Also, As i mentioned before you can use the code BTCTALK for 5% off

[IanFoxley]

Just had another call with Marco,

He said he is in the process of getting credit cards up.  He is on a call with the bank actually now.  Since it is international and all that he has to jump through some hoops it sounds like. Should be getting those online by end of next week.

Also, As i mentioned before you can use the code BTCTALK for 5% off

That's good news.

Want to try and save us much BTC as possible, so paying with Card now and then is a must!

I just purchased 10GH/s to try and compare what the daily payment is compared to other companies.

Will post my results as soon as they start coming in.

Thanks for the code btw!

[FinalHash]

to clarify... there are no pool fees or anything like that. There is always a hosting fee just like everybody has. Including GAW. I mean they do have electrical costs. They are low which means the fee is usually low from a maintenance fee. So not sure how much GM charges but i think it is very nominal it is something like 8 cents or something really low because they have to pay for electricity. I mean you cannot expect folks to give you cheap megahash AND free power... that is nuts.

[zdaz14]

Just had another call with Marco,

He said he is in the process of getting credit cards up.  He is on a call with the bank actually now.  Since it is international and all that he has to jump through some hoops it sounds like. Should be getting those online by end of next week.

Also, As i mentioned before you can use the code BTCTALK for 5% off

Definitely will give it a shot then when CC's are up