Genesis Mining vs GAW Mining, Spondoolies, Hashnest and Mining Sweden updates

[IanFoxley]

Payout info for Mining Day 07.10.2015. All payouts listed are for 50GH/s except GM X11 1MH/s payout and are after the maintenance fees have been removed

Genesis Mining 50 GH/s @ 0.0015 USD per GH/s  0.00010494 BTC

Genesis Mining 50 GH/s @ 0.0012 USD per GH/s  0.00016616 BTC

Spondoolies 50 GH/s     @ 0.0019 USD per GH/s  0.00006413 BTC

Genesis Mining 1 MH/s X11 BTC (AUTO)              0.00029842 BTC

Hashnest

Payouts based on 25  blocks found.

Hashnest S3 50 GH/s  @ 0.00192 USD per GH/s        0.00008024 BTC  PLNS   

Hashnest S4 50 GH/s  @ 0.001625  USD per GH/s      0.00012657 BTC  PLNS 

Hashnest S5 50 GH/s  @ $0.001175 USD per GH/s      0.00019732 BTC PLNS


GM X11 1 MH/s Dash and Start

Startcoin                   2.97596386 START

Dash                        0.02578035  DRK

[IanFoxley]

Payout info for Mining Day 08.10.2015. All payouts listed are for 50GH/s except GM X11 1MH/s payout and are after the maintenance fees have been removed

Genesis Mining 50 GH/s @ 0.0015 USD per GH/s  0.00010224 BTC

Genesis Mining 50 GH/s @ 0.0012 USD per GH/s  0.00016380 BTC

Spondoolies 50 GH/s     @ 0.0019 USD per GH/s  0.00006121 BTC

Genesis Mining 1 MH/s X11 BTC (AUTO)              0.00029105 BTC

Hashnest

Payouts based on 23  blocks found.

Hashnest S3 50 GH/s  @ 0.00192 USD per GH/s        0.00005548 BTC  PLNS  

Hashnest S4 50 GH/s  @ 0.001625  USD per GH/s      0.00010514 BTC  PLNS  

Hashnest S5 50 GH/s  @ $0.001175 USD per GH/s      0.00018088 BTC PLNS


GM X11 1 MH/s Dash and Start

Startcoin                   1.53479738 START

Dash                        0.02027675  DRK

[IanFoxley]

S7 Hashpower is now available on Hashnest. It is expensive compared to S5 hashpower and some users speculate that the S7 price will go down over the next few days.

I want to make sure that you guys who read this thread can get the daily payout info for S7 as soon as possible so I have purchased 50 GH/s of S7 hashpower and will start giving out daily payout info from tomorrow. Be aware that the first payout I give out will not be a full 24 hours.

The price I paid for 50GH/s was 0.105 BTC, which actually compares quite well to the 50GH/s and the 1MH/s X11 contracts from Genesis Mining.

At the time of writing Genesis Mining was selling 50 GH/s SHA 256 at 0.092 BTC and 1 MH/s of X11 was 0.093 BTC.

S5 hashpower at Hashnet was trading at  0.03594900 BTC at the time of writing this.

Cheers

Ian

[IanFoxley]

Payout info for Mining Day 09.10.2015. All payouts listed are for 50GH/s except GM X11 1MH/s payout and are after the maintenance fees have been removed

Genesis Mining 50 GH/s @ 0.0015 USD per GH/s  0.00010204 BTC

Genesis Mining 50 GH/s @ 0.0012 USD per GH/s  0.00016365 BTC

Spondoolies 50 GH/s     @ 0.0019 USD per GH/s  0.00006098 BTC

Genesis Mining 1 MH/s X11 BTC (AUTO)              0.00029648 BTC

Hashnest

Payouts based on 34  blocks found.

Hashnest S3 50 GH/s  @ 0.00192 USD per GH/s        0.00013498 BTC  PLNS  

Hashnest S4 50 GH/s  @ 0.001625  USD per GH/s      0.00019445 BTC  PLNS  

Hashnest S5 50 GH/s  @ $0.001175 USD per GH/s      0.00028520 BTC PLNS


GM X11 1 MH/s Dash and Start

Startcoin                   2.54119165 START

Dash                        0.02958337  DRK

[IanFoxley]

Payout info for Mining Day 10.10.2015. All payouts listed are for 50GH/s except GM X11 1MH/s payout and are after the maintenance fees have been removed
Hashnest S7 payouts have now been added to the system. First payout was not for a full 24 hours.

Genesis Mining 50 GH/s @ 0.0015 USD per GH/s  0.00010370 BTC

Genesis Mining 50 GH/s @ 0.0012 USD per GH/s  0.00016495 BTC

Spondoolies 50 GH/s     @ 0.0019 USD per GH/s  0.00006286 BTC

Genesis Mining 1 MH/s X11 BTC (AUTO)              0.00029144 BTC

Hashnest

Payouts based on 21  blocks found.

Hashnest S3 50 GH/s  @ 0.00192 USD per GH/s        0.00002253 BTC  PLNS  

Hashnest S4 50 GH/s  @ 0.001625  USD per GH/s      0.00007171 BTC  PLNS  

Hashnest S5 50 GH/s  @ $0.001175 USD per GH/s      0.00014672 BTC PLNS

Hashnest S7 50 GH/s  @ $0.0005796 USD per GH/s     0.00019449 BTC PLNS


GM X11 1 MH/s Dash and Start

Startcoin                   2.18757074 START

Dash                        0.02140267  DRK

[IanFoxley]

Payout info for Mining Day 11.10.2015. All payouts listed are for 50GH/s except GM X11 1MH/s payout and are after the maintenance fees have been removed
Hashnest S7 payouts have now been added to the system.

Genesis Mining 50 GH/s @ 0.0015 USD per GH/s  0.00010643 BTC

Genesis Mining 50 GH/s @ 0.0012 USD per GH/s  0.00016711 BTC

Spondoolies 50 GH/s     @ 0.0019 USD per GH/s  0.00006598 BTC

Genesis Mining 1 MH/s X11 BTC (AUTO)              0.00030842 BTC

Hashnest

Payouts based on 33  blocks found.

Hashnest S3 50 GH/s  @ 0.00192 USD per GH/s        0.00016201 BTC  PLNS  

Hashnest S4 50 GH/s  @ 0.001625  USD per GH/s      0.00021902 BTC  PLNS  

Hashnest S5 50 GH/s  @ $0.001175 USD per GH/s      0.00030600 BTC PLNS

Hashnest S7 50 GH/s  @ $0.0005796 USD per GH/s     0.0042099 BTC PLNS


GM X11 1 MH/s Dash and Start

Startcoin                   1.76150898 START

Dash                        0.02249265  DRK

[IanFoxley]

Payout info for Mining Day 12.10.2015. All payouts listed are for 50GH/s except GM X11 1MH/s payout and are after the maintenance fees have been removed
Hashnest S7 payouts have now been added to the system.

Genesis Mining 50 GH/s @ 0.0015 USD per GH/s  0.00010735 BTC

Genesis Mining 50 GH/s @ 0.0012 USD per GH/s  0.00016813 BTC

Spondoolies 50 GH/s     @ 0.0019 USD per GH/s  0.00006683 BTC

Genesis Mining 1 MH/s X11 BTC (AUTO)              0.00030547 BTC

Hashnest

Payouts based on 31  blocks found.

Hashnest S3 50 GH/s  @ 0.00192 USD per GH/s        0.00008308 BTC  PLNS  

Hashnest S4 50 GH/s  @ 0.001625  USD per GH/s      0.00014921 BTC  PLNS  

Hashnest S5 50 GH/s  @ $0.001175 USD per GH/s      0.00023416 BTC PLNS

Hashnest S7 50 GH/s  @ $0.0005796 USD per GH/s     0.00035492 BTC PLNS


GM X11 1 MH/s Dash and Start

Startcoin                   2.01327968 START

Dash                        0.01978751  DRK

[IanFoxley]

Payout info for Mining Day 13.10.2015. All payouts listed are for 50GH/s except GM X11 1MH/s payout and are after the maintenance fees have been removed
Hashnest S7 payouts have now been added to the system.

Genesis Mining 50 GH/s @ 0.0015 USD per GH/s  0.00010710 BTC

Genesis Mining 50 GH/s @ 0.0012 USD per GH/s  0.00016799 BTC

Spondoolies 50 GH/s     @ 0.0019 USD per GH/s  0.00006651 BTC

Genesis Mining 1 MH/s X11 BTC (AUTO)              0.00028433 BTC

Hashnest

Payouts based on 30  blocks found.

Hashnest S3 50 GH/s  @ 0.00192 USD per GH/s        0.00005948 BTC  PLNS  

Hashnest S4 50 GH/s  @ 0.001625  USD per GH/s      0.00012050 BTC  PLNS  

Hashnest S5 50 GH/s  @ $0.001175 USD per GH/s      0.00021362 BTC PLNS

Hashnest S7 50 GH/s  @ $0.0005796 USD per GH/s     0.00033685 BTC PLNS


GM X11 1 MH/s Dash and Start

Startcoin                   2.65467231 START

Dash                        0.02659353  DRK

[IanFoxley]

Payout info for Mining Day 14.10.2015. All payouts listed are for 50GH/s except GM X11 1MH/s payout and are after the maintenance fees have been removed
Hashnest S7 payouts have now been added to the system.

Genesis Mining 50 GH/s @ 0.0015 USD per GH/s  0.00011165 BTC

Genesis Mining 50 GH/s @ 0.0012 USD per GH/s  0.00017149 BTC

Spondoolies 50 GH/s     @ 0.0019 USD per GH/s  0.00007175 BTC

Genesis Mining 1 MH/s X11 BTC (AUTO)              0.00025424 BTC

Hashnest

Payouts based on 15  blocks found.

Hashnest S3 50 GH/s  @ 0.00192 USD per GH/s        0.00001181 BTC  PLNS  

Hashnest S4 50 GH/s  @ 0.001625  USD per GH/s      0.00004457 BTC  PLNS  

Hashnest S5 50 GH/s  @ $0.001175 USD per GH/s      0.00009455 BTC PLNS

Hashnest S7 50 GH/s  @ $0.0005796 USD per GH/s     0.00016072 BTC PLNS


GM X11 1 MH/s Dash and Start

Startcoin                   1.18501378 START

Dash                        0.02905335  DRK

[tmltd]

Payout info for Mining Day 14.10.2015. All payouts listed are for 50GH/s except GM X11 1MH/s payout and are after the maintenance fees have been removed
....
Spondoolies 50 GH/s     @ 0.0019 USD per GH/s  0.0007175 BTC
....

Hi Ian, I think you must put one more zero in the last 3 posts in the payouts of Spondoolies.
Thanks for your excellent job.

[IanFoxley]

Payout info for Mining Day 14.10.2015. All payouts listed are for 50GH/s except GM X11 1MH/s payout and are after the maintenance fees have been removed
....
Spondoolies 50 GH/s     @ 0.0019 USD per GH/s  0.0007175 BTC
....

Hi Ian, I think you must put one more zero in the last 3 posts in the payouts of Spondoolies.
Thanks for your excellent job.

Thanks for that...I need glasses..

Went back and fixed them, please let me know if you spot others.

[IanFoxley]

Payout info for Mining Day 15.10.2015. All payouts listed are for 50GH/s except GM X11 1MH/s payout and are after the maintenance fees have been removed
Hashnest S7 payouts have now been added to the system.

Genesis Mining 50 GH/s @ 0.0015 USD per GH/s  0.00012094 BTC

Genesis Mining 50 GH/s @ 0.0012 USD per GH/s  0.00017884 BTC

Spondoolies 50 GH/s     @ 0.0019 USD per GH/s  0.00008234 BTC

Genesis Mining 1 MH/s X11 BTC (AUTO)              0.00026511 BTC

Hashnest

Payouts based on 39 blocks found.

Hashnest S3 50 GH/s  @ 0.00192 USD per GH/s        0.00007465 BTC  PLNS  

Hashnest S4 50 GH/s  @ 0.001625  USD per GH/s      0.00015137 BTC  PLNS  

Hashnest S5 50 GH/s  @ $0.001175 USD per GH/s      0.00026848 BTC PLNS

Hashnest S7 50 GH/s  @ $0.0005796 USD per GH/s     0.00042353 BTC PLNS


GM X11 1 MH/s Dash and Start

Startcoin                   2.89061261 START

Dash                        0.03318471  DRK

[IanFoxley]

Payout info for Mining Day 16.10.2015. All payouts listed are for 50GH/s except GM X11 1MH/s payout and are after the maintenance fees have been removed
Hashnest S7 payouts have now been added to the system.

Genesis Mining 50 GH/s @ 0.0015 USD per GH/s  0.00012280 BTC

Genesis Mining 50 GH/s @ 0.0012 USD per GH/s  0.00018027 BTC

Spondoolies 50 GH/s     @ 0.0019 USD per GH/s  0.00008449 BTC

Genesis Mining 1 MH/s X11 BTC (AUTO)              0.00027109 BTC

Hashnest

Payouts based on 22 blocks found.

Hashnest S3 50 GH/s  @ 0.00192 USD per GH/s        0.00007626 BTC  PLNS   

Hashnest S4 50 GH/s  @ 0.001625  USD per GH/s      0.00010612 BTC  PLNS 

Hashnest S5 50 GH/s  @ $0.001175 USD per GH/s      0.00017987 BTC PLNS

Hashnest S7 50 GH/s  @ $0.0005796 USD per GH/s     0.00024954 BTC PLNS


GM X11 1 MH/s Dash and Start

Startcoin                   2.02133148 START

Dash                        0.02166056  DRK

[IanFoxley]

Mining Sweden is doing a lottery at the moment.

More information here
https://www.youtube.com/watch?v=cec0wh0-j-E

Also they are selling S7 mining shares now, shares are for 1 year and include all maintenance fees upfront.

[BitcoinNewsMagazine]

Like Genesis Mining the Mining Sweden outfit will not let you sell your hash. Once you own it you are stuck. Good enough reason to stay away.

Concerning Hashnest: S5 is the better buy than S7 at the moment. S5 hash is under priced while S7 is over priced and really not good value. Anyone who bought S5 last week when price bottomed out and started to trend up is showing a profit. They can sell their S5 hash at a profit and have earned mining income as a bonus. Be aware S5 is not a long term hold at all. At some point in the next few months price will top out and then decline, and you will want to cash out.

Based on current price and difficulty here are the numbers for S7 compared to S5:

--S5 hash would return 0.50% daily and the ROI would be 205 days
--S7 hash would return 0.31% daily and the ROI would be 330 days

The real winners are the speculators who bought S7 miners to hash and have been gradually selling off their S7 hash at a nice 20% profit. I have told my readers not to consider buying S7 until price comes down to .0016 or better. No hurry to buy S7. If you plan to invest at Hashnest the smart move at present is to buy S5. You will need to watch the price and be ready to sell and move into S7 when the time is right.

[IanFoxley]

Like Genesis Mining the Mining Sweden outfit will not let you sell your hash. Once you own it you are stuck. Good enough reason to stay away.

Concerning Hashnest: S5 is the better buy than S7 at the moment. S5 hash is under priced while S7 is over priced and really not good value. Anyone who bought S5 last week when price bottomed out and started to trend up is showing a profit. They can sell their S5 hash at a profit and have earned mining income as a bonus. Be aware S5 is not a long term hold at all. At some point in the next few months price will top out and then decline, and you will want to cash out.

Based on current price and difficulty here are the numbers for S7 compared to S5:

--S5 hash would return 0.50% daily and the ROI would be 205 days
--S7 hash would return 0.31% daily and the ROI would be 330 days

The real winners are the speculators who bought S7 miners to hash and have been gradually selling off their S7 hash at a nice 20% profit. I have told my readers not to consider buying S7 until price comes down to .0016 or better. No hurry to buy S7. If you plan to invest at Hashnest the smart move at present is to buy S5. You will need to watch the price and be ready to sell and move into S7 when the time is right.

Hello BNM

Well I primarily purchased S7 hashpower so people can see daily payout info for S7 contracts, not the daily price, I leave that for others to do like yourself. as I will not be selling. I purchased 50GH/s for my users and for future generations. These payouts will carry on now until the day that S7 contracts die so that in years to come, if this forum still exists, people can see this as a time capsule so to speak and can see payouts from Day 1 to the day that Hashnest stopped them.

Just like my videos in the past, people can look at them even now and see the price of BTC at the time, and what payouts for 10GH/s SHA 256 was at the time and so that in the future, 10 years or whatever people might watch them videos and be suprised. Who knows what might happen in 10 years, you might need to have many TH/s of hashpower just to get the same payout that you would have got with 10GH/s for example or perhaps BTC / USD price has shot up or maybe a Bitcoin will be worth just a few dollars. Who really knows and so I think that in years to come these videos and this payout thread could be quite historical regarding Bitcoin.

[IanFoxley]

Like Genesis Mining the Mining Sweden outfit will not let you sell your hash. Once you own it you are stuck. Good enough reason to stay away.

So, for those that did purchase S7 hash straight away, like myself although for other reasons explained already, they have already made a loss so if they were thinking about selling their hash, then they are also sort of stuck too right?

I mean, would be silly to purchase 1 BTCs worth of S7 hashpower and then a week later sell it for 0.7 BTC..?? They would be 0.3 BTC down in just a few days.

So what would that user do, they will probably now carry on mining it until they have got most of their investment back and get rid of it later perhaps..

The problem is that not everyone is smart or savvy like you are, but I do respect the advice you give regarding the best time to buy and sell your hashpower but the problem is only a small minority of people will see it and understand that and so even today people on Hashnest can lose money just as much as them losing money with Cloud mining providers who do not allow them to sell.

The amount of posts on the forum from people who were upset about losing Umisoo and S2 hashpower was proof of that. They could not sell because it was too late. Nobody would buy their hashpower from them and they were stuck with it.

For me personally, if i want to buy and sell, I take my daily payout of BTC to an exchange over time and do it there, lots more coins to play around with.

Cheers

Ian

 

[BitcoinNewsMagazine]

Remember the block halving is coming up next July. At that time unless bitcoin price is up to $500 level all contracts at Genesis Mining will no longer be profitable and will be cancelled. This is why it is imperative to only buy hashpower you can sell when you like.

Hashnest is not immune to the halving either. Just like UMISOO became unprofitable and contracts were cancelled, depending on bitcoin price the same thing can happen to S5 and yes even S7. You should never just buy hashpower and plan to hold forever, you will get a rude surprise.

All that is required to stay on top of your investment is to log into your Hashnest account and go to the built in charts under the history tab. Keep track of the trend for any hash you own. If price tops out and starts to trend down better sell your hash.

I keep track of such things for my readers. Right now I am long S5 hash only. Waiting for S7 price to come down before buying. If I see an urgent need to sell S5 I will send out an update. 

[IanFoxley]

Remember the block halving is coming up next July. At that time unless bitcoin price is up to $500 level all contracts at Genesis Mining will no longer be profitable and will be cancelled. T

You make alot of assumptions as if you have a time machine and already know the outcome of what will happen with Bitcoin.

You wrote and I have marked in bold the important words.

At that time unless bitcoin price is up to $500 level all contracts at Genesis Mining will no longer be profitable and will be cancelled.

How do you know for sure when nobody even knows what effect the block halving will have, even people experienced with Bitcoin do not know, they have ideas but it is not certain. Nobody even knows what the Bitcoin price will be by July next year.

For example, some people think that the blockhalving might cause miners to stop mining as it will not profitable anymore, especially those on older equipment which lowers the hashrate and then lowers the difficulty within one or two difficulty changes or a month basically. Genesis Mining give 20 days once payouts are not profitable before contracts are terminated so in that time, there could be two difficulty changes at least or just one, it just depends on the timing of the first difficulty change, so there could be a chance that Genesis Minings contracts will not be cancelled as the difficulty would fall enough to get a payout again.  I would rather write might instead of will to be honest.  How do you know for certain? You do not. Nobody does and it is all a wait and see what happens in July when the time comes.

Those with Hashnest contracts once the blockhalving happens could just have ten days to get rid of their hashpower, they will try to sell if they have not already and nobody will want to buy, 10 days is far less than 20 so if hashnest have to end those older contracts, as GMs contracts could still be within their 20 day rule, then payouts could resume.

Of course some might people might snap up the hashpower at very cheap prices knowing that if they purchase enough they get to claim a mining machine which depending on where they live could be a good risk for them. If they live in China especially as its just a case of having it sent domestically so perhaps someone will want to snap up those miners extra cheap, but for those further afield, once they add in the customs and delivery costs they will probably not even bother having it sent to them as the costs are too high.

Those on 1 year GM contracts will not be affected so much as they have no 20 day rule, their contracts will not pay out until payouts are profitable again. Of course it is no good for their ROI but again, nobody knows what will happen for sure. If Bitcoin is at the level you say it would be then there is a good change that those on the 1 year GM contracts would have made ROI anyway but there are no definites..

With Mining Sweden you have already paid the electricity upfront for a year so you are covered for whatever happens. You will still get a payout no matter what.

[BitcoinNewsMagazine]

Dude trying to teach you how not to lose money on hosted mining is like talking to a brick. You are certainly free to piss your bitcoin away any way you choose, I try to help those who are sincerely interested in hosted mining protect their investment while making the best returns.