Genesis-Mining Review

[IanFoxley]

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.

I agree with you, just need that clarifying. Before they changed things yesterday, when you purchased a contract, then there was no daily fee as you paid for everything up front.
Then again, contracts were more expensive and were just for a year so can understand why they have added them now.
Ian

[FinalHash]

well i mean when you look at it now it is a pretty competitive platform.

[IanFoxley]

well i mean when you look at it now it is a pretty competitive platform.

Yes, definitely!

[BATeller]

I'm committed to trying Genesis-Mining... but not more than $150 on my first go... and not paying $10 for a wire transfer since I'm only committing less than $150 to try out a new vendor I don't know much about.

I don't mind jumping through hoops to pay (only accepting DOGE, or PayPal, or Coinbase, or CC, etc) but I'm not going to eat a $10 bank fee... From the looks of this thread... others aren't willing to either.

I highly suggest you relay that to Marco. It looks like you already have (and hes already trying to rectify the situation) but the reality is he could even accept BTC in less than 5 min. There really is no excuse.

[FinalHash]

Ah snap BATteller!

Dude i did not even know he was not accepting BTC?! Dafuq?

let me ring him... cuz that is weird.  Clearly i feel like that must be a over sight from a dev standpoint because who in their right mind would not take it. That seems super weird to me and probably everybody else.

let me send him a skype right now.

Will touch base.

[bajlox]

What can you tell me if I wanted to start mining this with maybe 2-5 ref is it doable with let say 50$ investment.

[IanFoxley]

Ah snap BATteller!

Dude i did not even know he was not accepting BTC?! Dafuq?

let me ring him... cuz that is weird.  Clearly i feel like that must be a over sight from a dev standpoint because who in their right mind would not take it. That seems super weird to me and probably everybody else.

let me send him a skype right now.

Will touch base.

They accept BTC and always have done.

[bluecityste]

Finalhash - any plans to convert older members to lifetime memberships?

If not then this is extremely unfair on people, like myself, who paid 0.433 Btc less 3 months ago but now the subscription is a lifetime membership for only 0.076 Btc!!

Please try and talk him into it

Thanks,
Stephen

[IanFoxley]

Finalhash - any plans to convert older members to lifetime memberships?

If not then this is extremely unfair on people, like myself, who paid 0.433 Btc less 3 months ago but now the subscription is a lifetime membership for only 0.076 Btc!!

Please try and talk him into it

Thanks,
Stephen

They are doing that.

Look here

https://bitcointalk.org/index.php?topic=602022.msg8763406#msg8763406

and this specific piece of text

All customers who purchased yearly contracts from us get a free upgrade to lifetime contracts after expiration!

Hope that helps!

[FinalHash]

I'm committed to trying Genesis-Mining... but not more than $150 on my first go... and not paying $10 for a wire transfer since I'm only committing less than $150 to try out a new vendor I don't know much about.

I don't mind jumping through hoops to pay (only accepting DOGE, or PayPal, or Coinbase, or CC, etc) but I'm not going to eat a $10 bank fee... From the looks of this thread... others aren't willing to either.

I highly suggest you relay that to Marco. It looks like you already have (and hes already trying to rectify the situation) but the reality is he could even accept BTC in less than 5 min. There really is no excuse.

So tbh last night you had me tripping dude. I did not even take the time to check and just sent marco a message. He was equally confused. So I checked just now... and yes of course they take BTC. Screenshot here i took literally 5 minutes ago. http://imgur.com/0kdYBrv

So maybe clarify on what you said? I may have not understood what you were upset about.

[FinalHash]

Finalhash - any plans to convert older members to lifetime memberships?

If not then this is extremely unfair on people, like myself, who paid 0.433 Btc less 3 months ago but now the subscription is a lifetime membership for only 0.076 Btc!!

Please try and talk him into it

Thanks,
Stephen

They are doing that.

Look here

https://bitcointalk.org/index.php?topic=602022.msg8763406#msg8763406

and this specific piece of text

All customers who purchased yearly contracts from us get a free upgrade to lifetime contracts after expiration!

Hope that helps!

Yeah what he said

[Minerjoe]

What about doge merged mining? Any word on that?

[IanFoxley]

What about doge merged mining? Any word on that?

No not yet, best thing is to keep an eye on this thread here https://bitcointalk.org/index.php?topic=602022.0 as will be more info and updates there as GM staff post on that forum more often.

[FinalHash]

What about doge merged mining? Any word on that?

Well i know that we just added it to our pool.

Also, Marco is always up to the things that make everyone more money... So i would say... most def.

[BitcoinAddicts]

What about doge merged mining? Any word on that?

Well i know that we just added it to our pool.

Also, Marco is always up to the things that make everyone more money... So i would say... most def.

Nice, we need more merge mining pool to get things going..

[thefix]

Informative review, Thank you!

[Collider]

how much is the electricity / hosting cost per GH atm, i didn´t find it on the website.

It is impossible to do any ROI calculations without that very important factor.

[FinalHash]

I think overall theirs is probably around 7 or 8 cents per MH (scrypt) and something like 8 cents per 10GH.

[IanFoxley]

how much is the electricity / hosting cost per GH atm, i didn´t find it on the website.

It is impossible to do any ROI calculations without that very important factor.

Its written in their terms.

Sha256 contracts.

0.01 USD per 5 GH/s

Hope that helps.

Ian

[bluecityste]

Finalhash - any plans to convert older members to lifetime memberships?

If not then this is extremely unfair on people, like myself, who paid 0.433 Btc less 3 months ago but now the subscription is a lifetime membership for only 0.076 Btc!!

Please try and talk him into it

Thanks,
Stephen

They are doing that.

Look here

https://bitcointalk.org/index.php?topic=602022.msg8763406#msg8763406

and this specific piece of text

All customers who purchased yearly contracts from us get a free upgrade to lifetime contracts after expiration!

Hope that helps!

Yeah what he said

Woo hoo!!!

Might be able to make ROI after all then (eventually).
Makes good business sense for them, as the cost will be negligible long term for Genesis, and means a lot to people like us who helped to fund the growth of the company.....thank, much appreciated!!