Genesis-Mining Review

[MacDuro]

Hir ight now Multihashlet has negative payouts

https://hashtalk.org/topic/10734/multihashlet/72

It seems that they are returning some btc to the people so they still remane "profitable" , last time it happened they just removed the hashlet from the market (NIcehashlet) and upgraded the existing units to ZenHashlets .

[kelvrhy]

Day 26 comparison of payments with Genesis Mining and GAW Miners Hashlets.

http://youtu.be/jpyBLDnL29o

Payments were as follows:

Genesis Mining 10 GH/s contract  0.00013402 BTC
Gaw Miners Genesis Hashlet 15 GH/s  0.00014371 BTC

Genesis Mining 1 MH/s contract    0.00022544 BTC
GAW Waffle Hashlet                    0.00023010 BTC
GAW Zen Hashlet                         0.00038133 BTC

Whether you have used the genesis and if it does exist it ??
I so interested for me

[IanFoxley]

Day 27 comparison of payments with Genesis Mining and GAW Miners Hashlets.

http://youtu.be/FtIADC5ZI8o

Payments were as follows:

Genesis Mining 10 GH/s contract  0.00013422 BTC
Gaw Miners Genesis Hashlet 15 GH/s  0.00014231 BTC

Genesis Mining 1 MH/s contract    0.00026559 BTC
GAW Waffle Hashlet                   0.00012285 BTC
GAW Zen Hashlet                         0.00041491 BTC

[IanFoxley]

Day 28 comparison of payments with Genesis Mining and GAW Miners Hashlets.

http://youtu.be/1ADIAHHPU1g

Payments were as follows:

Genesis Mining 10 GH/s contract  0.00013365 BTC
Gaw Miners Genesis Hashlet 15 GH/s  0.00015221 BTC

Genesis Mining 1 MH/s contract    0.00024939 BTC
GAW Waffle Hashlet                   0.00019838 BTC
GAW Zen Hashlet                         0.00041353 BTC

Ian

[ronnyraeder]

this is wath i calculated with 50GH/s with the price of 83usd (the price of 50GH/S with the bank fee) can this be correct? i will newer ever come close to roi if the currecy stay at this level??

During   Bitcoin per day   Revenue per day   Income per day   difficulty   total day   total BTC   total Income   amount to break even
Oct-12-14 - Oct-21-14   0.0009 BTC   $0.34   $0.24   35,002,482,026   10 days   0.01BTC   $2.39   $-80.61
Oct-22-14 - Nov-03-14   0.0009 BTC   $0.33   $0.23   36,500,588,257   23 days   0.02BTC   $5.33   $-77.67
Nov-04-14 - Nov-16-14   0.0009 BTC   $0.31   $0.21   38,062,813,434   36 days   0.03BTC   $8.08   $-74.92
Nov-17-14 - Nov-29-14   0.0008 BTC   $0.3     $0.2           39,691,901,849   49 days   0.04BTC   $10.68   $-72.32
Nov-30-14 - Dec-12-14   0.0008 BTC   $0.29   $0.19   41,390,715,248   62 days   0.05BTC   $13.11   $-69.89
Dec-13-14 - Dec-25-14   0.0008 BTC   $0.28   $0.18   43,162,237,861   75 days   0.06BTC   $15.39   $-67.61
Dec-26-14 - Jan-07-15   0.0007 BTC   $0.26   $0.16   45,009,581,641   88 days   0.07BTC   $17.52   $-65.48
Jan-08-15 - Jan-20-15   0.0007 BTC   $0.25   $0.15   46,935,991,736   101 days   0.08BTC   $19.51   $-63.49
Jan-21-15 - Feb-02-15   0.0007 BTC   $0.24   $0.14   48,944,852,182   114 days   0.09BTC   $21.37   $-61.63
Feb-03-15 - Feb-15-15   0.0006 BTC   $0.23   $0.13   51,039,691,855   127 days   0.1BTC   $23.09   $-59.91
Feb-16-15 - Feb-28-15   0.0006 BTC   $0.22   $0.12   53,224,190,667   140 days   0.11BTC   $24.7   $-58.3
Mar-01-15 - Mar-13-15   0.0006 BTC   $0.21   $0.11   55,502,186,027   153 days   0.11BTC   $26.18   $-56.82
Mar-14-15 - Mar-26-15   0.0006 BTC   $0.21   $0.11   57,877,679,589   166 days   0.12BTC   $27.55   $-55.45
Mar-27-15 - Apr-08-15   0.0005 BTC   $0.2           $0.1           60,354,844,276   179 days   0.13BTC   $28.81   $-54.19
Apr-09-15 - Apr-21-15   0.0005 BTC   $0.19   $0.09   62,938,031,610   192 days   0.14BTC   $29.96   $-53.04
Apr-22-15 - May-04-15   0.0005 BTC   $0.18   $0.08   65,631,779,363   205 days   0.14BTC   $31.01   $-51.99
May-05-15 - May-17-15   0.0005 BTC   $0.17   $0.07   68,440,819,520   218 days   0.15BTC   $31.97   $-51.03
May-18-15 - May-30-15   0.0005 BTC   $0.17   $0.07   71,370,086,596   231 days   0.15BTC   $32.84   $-50.16
May-31-15 - Jun-12-15   0.0004 BTC   $0.16   $0.06   74,424,726,302   244 days   0.16BTC   $33.61   $-49.39
Jun-13-15 - Jun-25-15   0.0004 BTC   $0.15   $0.05   77,610,104,588   257 days   0.17BTC   $34.3   $-48.7
Jun-26-15 - Jul-08-15     0.0004 BTC   $0.15   $0.05   80,931,817,064   270 days   0.17BTC   $34.91   $-48.09
Jul-09-15 - Jul-21-15     0.0004 BTC   $0.14   $0.04   84,395,698,834   283 days   0.18BTC   $35.44   $-47.56
Jul-22-15 - Aug-03-15   0.0004 BTC   $0.14   $0.04   88,007,834,744   296 days   0.18BTC   $35.9   $-47.1
Aug-04-15 - Aug-16-15   0.0004 BTC   $0.13   $0.03   91,774,570,072   309 days   0.18BTC   $36.28   $-46.72
Aug-17-15 - Aug-29-15   0.0003 BTC   $0.12   $0.02   95,702,521,671   322 days   0.19BTC   $36.59   $-46.41
Aug-30-15 - Sep-11-15   0.0003 BTC   $0.12   $0.02   99,798,589,598   335 days   0.19BTC   $36.84   $-46.16
Sep-12-15 - Sep-24-15   0.0003 BTC   $0.11   $0.01     104,069,969,233  348 days   0.2BTC   $37.02   $-45.98
Sep-25-15 - Oct-07-15   0.0003 BTC   $0.11   $0.01     108,524,163,916   361 days   0.2BTC   $37.15   $-45.85
Oct-08-15 - Oct-20-15   0.0003 BTC   $0.1     $0       113,168,998,132   374 days   0.21BTC   $37.21   $-45.79
Oct-21-15 - Oct-22-15   0.0003 BTC   $0.1     $0        118,012,631,252  376 days   0.21BTC   $37.21   $-45.79

[ronnyraeder]

even if i paid in bitcoins(no bank fee) and had 5% discount i would newer get ROI if this is true!!??

[ronnyraeder]

this is with their maintenance fee at 0.01 USD per 5 Gh/s for SHA 256 hashpower, Estimated Next Difficulty +4.28%(bitcoinwisdom.com)
the Rate BTC to USD has to go up to about 600 before i hit ROI in about a year... if i had just bought btc for my 83usd and then the btc to usd went up to 600 i would have earnd 50usd at the same time   can some one please tell me i have done something wrong in my calculations?

[IanFoxley]

It can be pretty hard to calculate ahead like you have done as there is really no way of knowing how things are going to be.

You assume that BTC will hit 600 USD, but there is no certainty that it will or it will not.

I started my videos 28 days ago and so far my Genesis Mining 10 GH/s contract has paid out 21.3 % of my ROI.

Of course I didn't have to pay that huge wire fee charge like you had to.

If you had not paid that, you would have been much better off.

If the daily payouts would get to a point where they were making no money I actually think that a lot of miners would just stop mining as there would be no profit for them, so instead of the difficulty keep going up, it might actually level and could even go down.

Just my thoughts.

[ronnyraeder]

It can be pretty hard to calculate ahead like you have done as there is really no way of knowing how things are going to be.

You assume that BTC will hit 600 USD, but there is no certainty that it will or it will not.

I started my videos 28 days ago and so far my Genesis Mining 10 GH/s contract has paid out 21.3 % of my ROI.

Of course I didn't have to pay that huge wire fee charge like you had to.

If you had not paid that, you would have been much better off.

If the daily payouts would get to a point where they were making no money I actually think that a lot of miners would just stop mining as there would be no profit for them, so instead of the difficulty keep going up, it might actually level and could even go down.

Just my thoughts.

i am not assuming the btc will hit 600usd.. i am just saying it must do for me to hit roi..or the difficulti has to lower(or stay flat), witch would be the first time in history! i just asked them myselfe and they told me that i was correct.. the difficulty vs the value of bitcoin is right now at the tipping point, and they said never say never, mabey the diffuculty is going to get lower or stay flat as, this is for "regular miners" as well, and if they turn of their miners the diff would drop!

[IanFoxley]

Day 29 comparison of payments with Genesis Mining and GAW Miners Hashlets.

http://youtu.be/6SgbLxnTqao

Payments were as follows:

Genesis Mining 10 GH/s contract  0.00013373 BTC
Gaw Miners Genesis Hashlet 15 GH/s  0.00015928 BTC

Genesis Mining 1 MH/s contract    0.00024567 BTC
GAW Waffle Hashlet                   0.00010892 BTC
GAW Zen Hashlet                         0.00048050 BTC

[IanFoxley]

The price of 10 GH/s is now 8.99 USD.

[ronnyraeder]

yeah, but on their front page (logged out) it says 8.99usd pr 10GH/S..if you dont by 100GH/S then its 8.79GH/S.. on the upgrade hashpower (logged in) the pricing is 8.79 for 10GH/S but gets more expensive when you get past 1TH/S  haha, then the price is 889usd (8.89usd pr 10GH/S)

[IanFoxley]

Day 30 comparison of payments with Genesis Mining and GAW Miners Hashlets.  Sorry about the delay, this was due to GM bug last night and then Zenportal being down most of the day, so could not make my video.

http://youtu.be/BG7_IuyZ-jM

Payments were as follows:

Genesis Mining 10 GH/s contract  0.00012849 BTC
Gaw Miners Genesis Hashlet 15 GH/s  0.00012683 BTC

Genesis Mining 1 MH/s contract    0.00024734 BTC
GAW Waffle Hashlet                   0.00014196 BTC
GAW Zen Hashlet                         0.00041240 BTC

Ian

[IanFoxley]

Day 31 comparison of payments with Genesis Mining and GAW Miners Hashlets.
http://youtu.be/gM8RmBHnpgk

Payments were as follows:

Genesis Mining 10 GH/s contract  0.00013098 BTC
Gaw Miners Genesis Hashlet 15 GH/s  0.00013713 BTC

Genesis Mining 1 MH/s contract    0.00021833 BTC
GAW Waffle Hashlet                   0.00021074 BTC
GAW Zen Hashlet                         0.00025001 BTC

Also a video comparing ROI for the first 28 days with all the contracts so far.
http://youtu.be/B7MLGGkdKwk

Ian

[IanFoxley]

Hi.

I am not sure if you are aware of this but on another thread, Genesis Mining has posted that basically the maintenance fees
for Scrypt will be 0.05 USD per Megahash and not 0.08 USD per Megahash as is on the contract.

https://bitcointalk.org/index.php?topic=602022.msg9199356#msg9199356

I went to order today and noticed that the terms and conditions have changed as well, to reflect that.

I also noticed that with the SHA 256 contracts the fee each day is now 0.01 USD per 10 GH/s and not per 5 GH/s as before.

[IanFoxley]

Day 33 comparison of payments with Genesis Mining and GAW Miners Hashlets.

http://youtu.be/1m6gzNUCj-0

Payments were as follows:

Genesis Mining 10 GH/s contract 0.00012055 BTC
Gaw Miners Genesis Hashlet 15 GH/s  0.00016029 BTC

Genesis Mining 1 MH/s contract    0.00021875 BTC
GAW Waffle Hashlet                   0.00011377 BTC
GAW Zen Hashlet                         0.00036384 BTC

[IanFoxley]

Day 34 comparison of payments with Genesis Mining and GAW Miners Hashlets.

http://youtu.be/bObgL7QxHuQ

Payments were as follows:

Genesis Mining 10 GH/s contract 0.00012300 BTC
Gaw Miners Genesis Hashlet 15 GH/s  0.00014009 BTC

Genesis Mining 1 MH/s contract    0.00019639 BTC
GAW Waffle Hashlet                   0.00024903 BTC
GAW Zen Hashlet                         0.00031377 BTC

[IanFoxley]

Day 35 comparison of payments with Genesis Mining and GAW Miners Hashlets.

http://youtu.be/NTZIFIaROPA

Payments were as follows:

Genesis Mining 10 GH/s contract 0.00012044 BTC
Gaw Miners Genesis Hashlet 15 GH/s  0.00013639 BTC

Genesis Mining 1 MH/s contract    0.00019308 BTC
GAW Waffle Hashlet                   0.00015061 BTC
GAW Zen Hashlet                         0.00018660 BTC

[MacDuro]

Day 35 comparison of payments with Genesis Mining and GAW Miners Hashlets.

http://youtu.be/NTZIFIaROPA

Payments were as follows:

Genesis Mining 10 GH/s contract 0.00012044 BTC
Gaw Miners Genesis Hashlet 15 GH/s  0.00013639 BTC

Genesis Mining 1 MH/s contract    0.00019308 BTC
GAW Waffle Hashlet                   0.00015061 BTC
GAW Zen Hashlet                         0.00018660 BTC

I'm waiting for tomorrow's comparision , it's going to be interesting with those low ZEN pool rates .

[IanFoxley]

Day 36 comparison of payments with Genesis Mining and GAW Miners Hashlets.

Payments were as follows:
http://youtu.be/--xm6Xidt_w

Genesis Mining 10 GH/s contract 0.00011758 BTC
Gaw Miners Genesis Hashlet 15 GH/s  0.00012120 BTC

Genesis Mining 1 MH/s contract    0.00023378 BTC
GAW Waffle Hashlet                   0.00012797 BTC
GAW Zen Hashlet                         0.00018018 BTC